Fitch affirms national short-term rating

NEW DELHI: Global credit rating agency Fitch has affirmed its national short-term rating to Jubilant Organosys Ltd's Rs 150 crore commercial paper programme and Rs 50 crore short term debt programme.

The 'F1+' rating reflects the company's healthy business profile, supported by its growing volumes and strong cash accruals, Fitch said in a release.

It said rating concerns emanate from the company's inorganic growth strategy, its rising financial leverage, the price cyclicity of bulk chemicals and the volatility in prices of raw materials.