Fitch rates Value Industries BBB+(ind)

Fitch Ratings said it assigned a national issuer rating of BBB+(ind) to Value Industries Ltd., along with an F2+(ind) rating on its non-fund based limit of Rs. 647.6 million, BBB+(ind) ratings on its cash credit limits of Rs. 897.6 million and BBB+(ind) on long-term bank loans of Rs. 2,345.3 million.

The outlook is stable.

The ratings reflect the company's strong operating and strategic linkages with Videocon Industries Ltd., Fitch said, and manufacturing and selling of a range of white goods under the 'Videocon' brand name.

Any major deterioration in the credit profile of the group's flagship - Videocon - could act as a negative trigger for Value's rating, the agency 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.