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Fitch assigns D(ind) rating to Indus Fila’s bank facilities

13 Jun 2011 Evaluate

Credit rating agency, Fitch has assigned ‘D(ind)’ rating to long-term bank facilities of Indus Fila (IFL).

The ratings reflect delays in debt servicing by the company and the overdrawing of cash credit limits. Despite restructuring in 2009 with a moratorium till FY10, the company has been unable to repay its debt obligations to date.

Indus Fila's principal activity is to manufacture textile products, which includes dyed yarn, grey fabrics and readymade garments.

Peers
Company Name CMP
Vardhman Textiles 535.60
Welspun Living 227.60
Arvind 536.90
Raymond Lifestyle 642.05
K.P.R. Mill 1105.00
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