|
Instrument Type |
Date of Issuance |
Coupon Rate (%) |
Maturity Date |
Size of Issue (million) |
Rating/Outlook |
Rating Action |
|
Term loans |
- |
- |
- |
INR1,346.2 |
WD |
Withdrawn |
|
Fund-based working capital limits |
- |
- |
- |
INR550 |
WD |
Withdrawn |
|
Non-fund-based working capital limits |
- |
- |
- |
INR103.8 |
WD |
Withdrawn (paid in full) |
Ind-Ra is no
longer required to maintain ratings on the term loans and fund-based working
capital limits, based on the no-objection certificate received from the lending
bank. This is consistent with Securities and Exchange Board of India’s circular
dated 31 March 2017 for credit rating agencies. The ratings on the
non-fund-based working capital limits have been withdrawn as the limits have
been repaid in full. Consequently, the Long-Term Issuer Rating has been
withdrawn.
COMPANY PROFILE
RATING HISTORY
COMPLEXITY LEVEL OF INSTRUMENTS
For details on complexity
level of the instruments please visit https://www.indiaratings.co.in/complexity-indicators.
SOLICITATION DISCLOSURES
Additional 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.
ABOUT INDIA RATINGS AND RESEARCH
India Ratings and Research (Ind-Ra) is India's most respected credit rating agency committed to providing India's credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India's fixed income market.
Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies, structured finance and project finance companies.
Headquartered in Mumbai, Ind-Ra has six branch offices located in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad and Kolkata. Ind-Ra is recognised by the Securities and Exchange Board of India, the Reserve Bank of India and National Housing Bank.
India Ratings is a 100% owned subsidiary of the Fitch Group.
For more information, visit www.indiaratings.co.in.
DISCLAIMER
ALL CREDIT RATINGS ASSIGNED BY INDIA RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.INDIARATINGS.CO.IN/RATING-DEFINITIONS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.INDIARATINGS.CO.IN. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. INDIA RATINGS’ CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE.