Fitch affirms Fullerton India

Fitch Ratings said it affirmed Fullerton India Credit Co.'s national long-term rating at AA+(ind), national short-term rating at F1+(ind) and national short-term rating on its Rs. 2.5 billion debt at F1+(ind).

The outlook is stable.

The ratings reflect an expectation of strong support from its parent, Fullerton Financial Holdings, a unit of Temasek Holdings. Fullerton Financial has provided liquidity and capital support to Fullerton India when required, Fitch said.

Fullterton India's continued underperformance and lack of explicit creditor support constrain the ratings, the agency said.

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