Fitch affirms Pratibha Shipping

Fitch Ratings said it affirmed Pratibha Shipping Co. Ltd.'s national long-term rating at BBB(ind), along with its Rs. 2.74 billion long-term loans at BBB(ind).

The outlook is stable.

The affirmations reflect the company's ability to manage high ship utilization in the challenging industry environment, as well as its stable leverage in 2010 despite high capital expenditure for acquisition of a new ship, Fitch said.

The factors that constrain the ratings include the relatively high average age of the fleet and the concentration level as all the ships cater to the same segment, the agency said.

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