Fitch rates Richa Industries loans BBB(ind)

Fitch Ratings said it assigned Richa Industries Ltd. a national long-term rating of BBB(ind), along with a BBB(ind) on its outstanding term loans of Rs.400 million and ratings of BBB(ind)/F3(ind) to its fund-based working capital bank lines of Rs.550 million.

The outlook is stable.

The ratings factor in the company's experience spanning two decades and its sound operational track record in the textile business, Fitch said.

The ratings are constrained by its historically high leverage as the company has been expanding over the past five years, the agency said.

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