Fitch rates Andrew Yule C(ind)

Fitch Ratings said it assigned a national Long-term rating of D to Andrew Yule & Co. Ltd. and a national long-term rating of C(ind) to its cash credit limits totaling Rs. 212.2 million.

The national long-term rating reflects the company's continuous operating losses over the years, with a net loss from fiscal year 2000 to fiscal year 2007, the agency said. The company's net worth was completely eroded in fiscal 2002.

The rating also reflects irregularities in depositing undisputed statutory dues, according to the agency.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.