Ind-Ra Migrates PTC India Limited to Suspended Category
Delhi-22 December 2014: India Ratings & Research (Ind-Ra) has
migrated the ‘IND A1+’ rating on PTC India Limited’s
INR1bn short-term debt/commercial paper programme to the suspended
category. The rating will now appear as ‘IND A1+(suspended)’
on the agency’s website. The agency has also migrated the ‘IND
A1+’ rating on the company’s INR5bn short-term non-fund
based limits to ‘IND A1+(suspended).
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 PTC India Limited.
The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period.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 the six-month period, the ratings could be reinstated and will be communicated through a rating action commentary.
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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. The issuer did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure.
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.
Applicable criteria, ‘Corporate Rating Methodology’, dated 12 September 2012, are available at www.indiaratings.co.in.
India Ratings & Research (India Ratings) has six rating offices located at Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad. India Ratings is recognised by Reserve Bank of India, Securities Exchange Board of India (SEBI) and National Housing Bank.