Ind-Ra withdraws Agarwala's ratings

Kolkata, Aug 14 : India Ratings and Research (Ind-Ra) has withdrawn M/s Agarwala's 'IND BB+' Long-Term Issuer Rating with a Stable Outlook.

A list of additional rating actions is at the end of this commentary.

The ratings have been withdrawn due to M/s Agarwala's acquisition by Agarwala's Polytrade Private Limited ('IND BBB-'/Stable), its group entity. Both the entities belong to Sri Balmukund Group.

Ind-Ra has also taken the following actions on M/s Agarwala's bank facilities:

- INR161m fund-based limits: Long-Term 'IND BB+'; rating withdrawn

- INR21.7m non-fund-based limits: Short-Term 'IND A4+'; rating withdrawn

--IBNS (Posted on 14-08-2013)

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