Ind-Ra Migrates Kiri Industries to Suspended Category
June 2015: India Ratings and Research (Ind-Ra) has migrated Kiri
Industries Limited’s (KIL) ‘IND D’ Long-Term Issuer
Rating to the suspended category. The rating will now appear as ‘IND
D(suspended)’ on the agency’s website. A full list of
rating actions is at the end of this commentary.
The ratings have been migrated to the suspended category due to lack of adequate information. Ind-Ra will no longer provide ratings or analytical coverage for KIL.
The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period. However, in the event the issuer starts furnishing information during this six-month period, the ratings could be reinstated and will be communicated through a rating action commentary.
KIL’s ratings are as follows:
- Long-Term Issuer Rating: migrated to ‘IND D(suspended)’ from ‘IND D’
- Proposed INR1,000m non-convertible debentures programme: migrated to Long-Term ‘IND D(suspended)’ from ‘IND D’
- INR666.4m long-term loans: migrated to Long-Term ‘IND D(suspended)’ from ‘IND D’
- INR1,700m fund-based bank limits: migrated to Long-Term ‘IND D(suspended)’ from ‘IND D’
- INR365m non-fund-based bank limits: migrated to Short-Term ‘IND D(suspended)’ from ‘IND D’
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