(The following statement was released by the rating agency) March 29 - Fitch Ratings has affirmed India-based TVS Srichakra Limited's (TVSSC) National Long-Term rating at 'Fitch A-(ind)'. The Outlook remains Stable. A full rating breakdown is provided at the end of this commentary. The affirmation of the ratings, despite a substantial increase in debt obligations, is largely driven by a significant increase in TVSSC's scale of operations with reasonably stable operating margins and moderate ...
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