TEXT-Fitch upgrades Sona Okegawa to 'BB(ind)'; outlook stable

Newswire

(The following statement was released by the ratings agency) Feb 24 - Fitch Ratings has today upgraded India's Sona Okegawa Precision Forgings Limited's (SOPFL) National Long-Term Rating to 'BB(ind)' from 'BB-(ind)'. The Outlook is Stable. The agency has also taken the following rating actions on SOPFL's bank loans: - INR1977.8m long-term loans (enhanced from INR1,130.4m): upgraded to 'BB(ind)' from 'BB-(ind)'; - INR280m fund-based limits (enhanced from INR200m): upgraded to 'BB(ind)' ...

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