(The following statement was released by the rating agency) Dec 28 - Fitch Ratings has affirmed India-based BalKrishna Synthetics Ltd's (BKS) National Long-Term rating at 'Fitch BBB-(ind)' while revising its Outlook to Negative from Stable. A list of additional rating actions is provided at the end of this commentary. The Outlook change reflects Fitch's expectation that BKS's financial leverage (net debt/EBITDA) could exceed 3.5x in the near term on account of its INR168.5m capex for ...
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