Fitch lowers Rolta India

Fitch Ratings said it downgraded Rolta India Ltd.'s long-term foreign- and local-currency issuer default ratings and senior unsecured class rating to CC from B.

The agency also said it has downgraded the ratings on the Rolta, LLC's $127 million 10¾% senior unsecured notes due 2018 and Rolta Americas LLC's $367 million 8 7/8% senior unsecured notes due 2019 to CC with recovery rating of RR4 from B with recovery rating of RR4.

The notes are guaranteed by Rolta.

The downgrades reflect a deterioration of the company’s short-term liquidity, which increased credit risk, Fitch said.

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