Fitch rates Metecno India loans BB-(ind)

Fitch Ratings said it assigned Metecno India Pvt Ltd. a national long-term rating of BB-(ind), along with a BB-(ind) rating on its term loans of Rs. 148 million, BB- rating on its fund-based working capital limits of Rs. 130 million and F4(ind) rating on its non-fund based working capital limits of Rs. 200 million.

The outlook is stable.

The ratings incorporate its small size of operations, present low capacity utilization levels and proposed debt-funded capital expenditure, Fitch said.

Increasing the awareness in the market on its product - sandwich metal panels - and expanding its market share would be a key challenge in increasing its capacity utilization, the agency said.

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