TEXT-Fitch upgrades Hi-Tech gears to 'A(ind)'; outlook stable

Newswire

(The following statement was released by the ratings agency) March 28 - Fitch Ratings has upgraded India's Hi-Tech Gears Limited's (HGL) National Long-Term rating to 'A(ind)' from 'A-(ind)' with a Stable Outlook. The agency has also upgraded the ratings on HGL's various instruments, as follows: - INR501.9m long-term debt: upgraded to 'A(ind)' from 'A-(ind)'; - INR360m fund-based working capital limits: upgraded to 'A(ind)'/'F1(ind)' from 'A-(ind)'/'F1(ind)'; and - INR25m non-fund ...

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