Fitch rates Vikas Telecom C(ind)

Fitch Ratings said it assigned Vikas Telecom Ltd. a national long-term rating of C(ind), along with C(ind) ratings to its Rs. 3.41 billion term loans and Rs. 850 million cash credit facilities.

The ratings are underpinned by the track record of the company's promoters, the Narsi Group, in India's real estate industry and the successful track record of Assetz Property Services Pvt. Ltd., which is in charge of operations and maintenance, the agency said.

The ratings are constrained by the company having to repay bank loans of Rs. 1.1 billion and Rs. 500 million due for bullet maturities in June and December, respectively, Fitch said.

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