The rating will now appear as 'IND D(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 Master India.
The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period.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 re-instated and will be communicated through a rating action commentary.
The rating actions on Master India's bank loan ratings are as below:
- INR270m term loan: migrated to 'IND D(suspended)' from 'IND D'
- INR45m fund-based facilities: migrated to 'IND D(suspended)' from 'IND D'
--IBNS (Posted on 16-08-2013)