Fitch assigns Hexaware Technologies BB- IDR

Fitch Ratings said it assigned Hexaware Technologies Ltd. long-term foreign- and local-currency issuer default ratings of BB-.

The outlook is positive.

Fitch said it rates Hexaware based on the consolidated group profile of CA Magnum Holdings (BB-/positive), Hexaware's 96% parent, as Fitch assesses access and control and legal ringfencing as 'Open' under the stronger subsidiary path of Fitch's criteria. This approach constrains Hexaware's rating at the same level as that of CA Magnum.

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