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Fitch affirms Polycab Wires Industries
Fitch Ratings said it affirmed Polycab Wires Industries Pvt Ltd.'s national long-term rating at BBB(ind) and removed it from Rating Watch negative. The agency also said it affirmed Rs. 300 million cash credit at BBB(ind), Rs. 300 million other fund-based working capital limits at F2(ind) and Rs. 410 million non fund-based working capital limits at F2(ind).
The outlook is stable.
These actions follow the resolution of the Rating Watch negative on the company's parent, Polycab Wires Pvt Ltd., Fitch said.
During the first half of fiscal year 2010, the company reported revenues of Rs. 94 million with net margins of 6%, the agency said.
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