TEXT-Fitch affirms Jubilant Motors at 'BBB-(ind)'; outlook stbl

Newswire

(The following statement was released by the ratings agency) May 30 - Fitch Ratings has affirmed India-based Jubilant Motors Private Limited's (JMPL) National Long-term rating at 'BBB-(ind)' with Stable Outlook. Simultaneously, the agency has affirmed JMPL's various bank facilities as follows: - INR115.6m term loan outstanding as on 31 March 2011 at 'BBB-(ind)' - INR270m fund-based working capital limits (increased from INR100m) at 'BBB-(ind)'/'F3(ind)'; and - INR350m non-fund based ...

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