Fitch affirms Crompton Greaves

Fitch Ratings said it affirmed Crompton Greaves Ltd.’s national long-term issuer rating at AA-(ind) and the F1+(ind) rating on its Rs.1,000 million commercial paper program.

The outlook has been revised to positive from stable, which reflects the company’s continued comfortable debt protection measures, despite its recent acquisitions, Fitch said.

The ratings also factor in the company’s demonstrated ability to integrate acquisitions and realize strong value from them, as witnessed in the turnaround of Pauwel’s Group, the agency said.

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