Fitch rates Wartsila India loans F1+(ind)

Fitch Ratings said it assigned a national long-term issuer rating of AA(ind) to Wartsila India Ltd., along with an AA(ind) rating to its cash credit limits of Rs. 50.9 million, F1+(ind) to its working capital demand loans of Rs. 111.6 million, commercial paper limits of Rs. 50 million, letters of credit facilities of Rs. 97 million and

guarantee limits of Rs. 842.5 million.

Fitch also affirmed the F1+(ind) rating of its Rs. 100 million commercial paper program carved out of its fund-based limits.

The outlook is stable.

The ratings primarily derive support from the company's strong linkages with its parent, Finland's Wartsila OY, and its strong position as one of the leading global manufacturers of diesel generator engines, Fitch said.

The agency noted that any weakening of the operating and strategic linkages with Wartsila will act as a negative trigger for the rating.

© 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.