Rating downgrade may affect Rolta India

Shares of Rolta India may come under pressure, following Fitch Ratings-Singapore downgrading its debt issues. It downgraded the company’s long-term foreign- and local-currency issuer default ratings and senior unsecured class rating to ‘CC’ from ‘B’. The rating action reflects Fitch’s assessment that short-term liquidity has deteriorated to a position where credit risk is very high. CC rating denotes very high level of credit risk and default of some kind is probable.