Fitch rates Umrao loans B(ind)

Fitch Ratings said it assigned the Umrao Institute of Medical Science & Research (Umrao) a national long-term rating of B(ind), along with a B(ind) rating on its Rs. 887.5 million term loans, B(ind)/F4(ind) rating on its Rs. 60.6 million fund-based limits and F4(ind) rating on its Rs. 60.9 million non-fund based limits.

The outlook is stable.

The ratings are constrained by refinancing risks and a lack of a track record given its brief operational history, Fitch said.

The ratings benefit from the timely completion of the hospital project, large gamut of services, modern infrastructure and location advantage, which would provide it a large catchment of patients, the agency said.

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