Fitch: Crompton Greaves off watch

Fitch Ratings removed the ratings of Crompton Greaves Ltd. from Rating Watch evolving, where they were initially placed in March, on the announcement of Crompton's acquisition of the Pauwels Group.

At the same time, Fitch affirmed Crompton's ratings at A+ and the rating on its Rs. 1 billion short-term debt/commercial paper program at F1+.

The outlook is stable for the long-term rating.

Fitch said, following the completion of the review, it is of the opinion that the business and financial risk profile of Crompton continues to remain consistent with the rating assigned.

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