Fitch gives Rolta notes BB-

Fitch Ratings said it assigned Rolta Americas LLC's proposed dollar-denominated senior unsecured notes an expected rating of BB-(EXP).

The notes will be unconditionally and irrevocably guaranteed by India's Rolta India Ltd. (BB-/stable) and are therefore rated at the same level as Rolta's foreign-currency senior unsecured rating of BB-.

Rolta will use about 75% of the proceeds to refinance its existing secured debt and the balance for general corporate purposes.

The notes will rank pari passu with the issuer's existing and future senior unsecured debt, Fitch said.

Rolta Americas is a wholly owned subsidiary of Rolta, a diversified company with interests in information technology and geospatial services. The company changed its financial year-end to March 31 from June 30. The ratings factor in Rolta's financial results for the nine months ended March 2014.

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