Fitch rates PVN Fabrics loans B+(ind)

Fitch Ratings said it assigned PVN Fabrics a national long-term rating of B+(ind), along with a B+(ind) rating on its Rs. 43.2 million term loans, B+(ind) rating on its Rs. 71.5 million cash credit limits and F4(ind) rating on its Rs. 40 million non-fund based limits.

The outlook is stable.

Fitch said it has taken a consolidated view of both PVN Tex and PVN Fabrics, reflecting strong strategic linkages between the entities since they manufacture similar line of products and both firms are managed and controlled by the same sponsors.

The ratings benefit from the longstanding experience of its promoters in the more stable domestic woven sacks manufacturing market, 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.