S&P gives Rolta notes BB-

Standard & Poor's said it assigned its BB- long-term corporate credit rating to Rolta India Ltd.

The outlook is stable.

At the same time, S&P assigned its BB- issue rating to the proposed senior unsecured notes of up to $225 million that Rolta LLC, an indirect wholly owned subsidiary of Rolta, will issue. Rolta and its subsidiaries will guarantee the notes.

The rating on Rolta reflects the agency's view of the company's small size and narrow focus in the highly competitive global IT industry.

The rating also reflects Rolta's asset-heavy business model, which requires significant capital expenditure and investments to acquire intellectual property rights.

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