Fitch rates Priya credit F4(ind)

Fitch Ratings said it assigned Priya Ltd. an F4(ind) rating to its fund-based post-shipment export finance credit of Rs.182 million and its non-fund based limits totaling Rs.187 million.

The rating reflects the company's small scale of operations in the information technology distribution space and high risk of competition from its Southeast Asian counterparts, Fitch said.

The ratings also factor in the risk of obsolescence faced by the company due to the dynamic nature of technology and a product concentration risk, the agency said.

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