Fitch rates Overseas Infrastructure BBB-(ind)

Fitch Ratings said it assigned Overseas Infrastructure Alliance (India) Pvt. Ltd. a national long-term rating of BBB-(ind) and BBB-(ind)/F3(ind) ratings to the company's non-fund based working capital facilities of Rs. 3.8 billion.

The ratings factor in its net cash levels, low counter-party risk on account of executing projects only under a line of credit by the Indian Government and growing revenues and EBITDA, Fitch said.

The ratings are constrained by its small size and limited track record, the agency added. The company faces high concentration risk as well as country risk as its order book is comprised of only two projects in just one country - Ethiopia, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.