- INR3,861m* fund-based working capital limits: assigned Long-term ‘IND A-(SO)’/Stable/Short-term ‘IND A2+(SO)’
- INR1,169m non-fund-based working capital limits: assigned Short-term ‘IND A2+(SO)’
- INR3,220m proposed working capital limits: assigned ‘Provisional IND A-(SO)’/Stable/‘Provisional IND A2+(SO)’
*includes INR90m convertible to non-fund-based
KEY RATING DRIVERS
The ratings are
based solely on the unconditional, absolute and irrevocable guarantee provided
by FDIPL’s parent company, Firestar International Private Limited (FIPL; ‘IND
A-’/Stable/‘IND A2+’) for FDIPL’s working capital facilities. FIPL’s ratings
are based on a consolidated view of its businesses and financials.
For the guarantor’s rating rationale, please click here.
information is available at www.indiaratings.co.in. The ratings above were
solicited by, or on behalf of, the issuer, and therefore, India Ratings has
been compensated for the provision of the ratings.
Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.