TEXT-Fitch rates Hema Engineering at 'Fitch BB(ind)'/stable

Newswire

(The following statement was released by the rating agency) Dec 21 - Fitch Ratings has assigned India's Hema Engineering Industries Limited (HEIL) a National Long-Term rating of 'Fitch BB(ind)' with Stable Outlook. A list of additional rating actions is provided at the end of the commentary. The ratings reflect HEIL's high working capital intensity which coupled with its low profitability results in moderate-to-high financial leverage. The ratings further reflect the company's ...

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