Chandrababu's grandiose plans

Chandrababu's grandiose plans

Chandrababu Naidu government has drawn up ambitious plans to transform Andhra Pradesh
In Mulayam’s Mainpuri, contest is for BSP’s votes

In Mulayam’s Mainpuri, contest is for BSP’s votes

BJP is on a high and, with BSP out, is optimistic of a first in Mainpuri.

Indian rupee fall: Tata Steel, Vedanta Resources sit pretty, says Fitch Ratings

Aug 30 2013, 15:12 IST
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At the operating level most of Fitch rated portfolio of Indian industrial corporates are either naturally hedged via import parity-linked selling prices, or have hedging arrangements in place for more than 50% of their FX exposure. IE photo Prashun Talukdar At the operating level most of Fitch rated portfolio of Indian industrial corporates are either naturally hedged via import parity-linked selling prices, or have hedging arrangements in place for more than 50% of their FX exposure. IE photo Prashun Talukdar
SummaryNevertheless, credit profiles of corporates are likely to weaken over next 12 months: Fitch

stands at USD444m (48% of total debt) for BILT and USD8bn (70% of total debt) for TSL. Fitch will analyse the performance of these companies for any significant weakening of operations which, coupled with higher debt levels, may result in a downgrade.

In the case of Tata Motors (TML, BB/Stable), UK-based Jaguar Land Rover plc accounts for over 75% of its revenue and 90% of its EBITDA. As the proportion of TML's consolidated debt in FC currency is lower at 76%, the final impact from Indian rupee depreciation is likely to be positive.

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