Ind-Ra withdraws Agarwala's ratings
India Ratings and Research (Ind-Ra) has withdrawn M/s Agarwala's 'IND BB+' Long-Term Issuer Rating with a Stable Outlook.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The ratings have been withdrawn due to M/s Agarwala's acquisition by Agarwala's Polytrade Private Limited ('IND BBB-'/Stable), its group entity.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- INR161m fund-based limits: Long-Term 'IND BB+'; rating withdrawn
- INR21.7m non-fund-based limits: Short-Term 'IND A4+'; rating withdrawn
(Posted on 14-08-2013)