Fitch affirms Videocon

Fitch Ratings said it affirmed Videocon Industries Ltd.'s national long-term rating at A-(ind).

The outlook is negative.

Ratings reflect the company's strong position in the consumer electronic industry and its large scale of operations, the agency said.

Ratings are also constrained by the decline in revenue contributions from the oil and gas business, the agency noted.

The company's net debt-to-EBITDA ratio for fiscal year 2008 was 4.5x.

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