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Prospect News home > News index > List of issuers M > Headlines for MIL Industries Ltd. > News item
Published on 1/6/2011 in the Prospect News Emerging Markets Daily.

Fitch affirms MIL Industries

Fitch Ratings said it affirmed MIL Industries Ltd.'s national long-term rating at BB-(ind), Rs. 22 million fund-based working capital limits at BB-(ind) and Rs. 65 million non-fund based working capital limits at F4(ind).

The outlook is stable.

The agency said MIL's operating performance in 2010 was in line with Fitch's expectations, with net turnover improving to Rs. 174 million from Rs. 165.2 million the prior year, operating EBITDA to Rs. 23.4 million from Rs. 11.5 million and the debt-to-EBITDA ratio to 2.6 times from 5.4 times.


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