The ratings will now appear as 'IND BB-(suspended)' on the agency's website. A list of additional rating actions is at the end of this commentary.
The ratings have been migrated to the suspended category due to the lack of adequate information. Ind-Ra will no longer provide ratings or analytical coverage for Excellent.
The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period.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.
Ind-Ra has also suspended Excellent's bank loan ratings as follows:
- INR60m fund-based loans: migrated to 'IND BB-(suspended)' from 'IND BB-'
- INR95m non-fund based limits: migrated to 'IND A4+(suspended)' from 'IND A4+'
--IBNS (Posted on 13-08-2013)