TEXT-Fitch migrates Best Milk Products to non-monitored category
(The following statement was released by the rating agency)
May 25 - Fitch Ratings has migrated India-based Best Milk Products Private Limited's (BMP) 'Fitch B(ind)' National Long-Term rating with Stable Outlook to the non-monitored category. This rating will now appear as 'Fitch B(ind)nm' on the agency's website. A list of additional rating actions is provided at the end of this commentary.
The ratings have been migrated to the non-monitored category due to lack of adequate information, and Fitch will no Longer provide ratings or analytical coverage of BMP. The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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.
Fitch has also classified BMP's following bank loan ratings to non-monitored category:
- INR76.8m long-term loans: migrated to 'Fitch B(ind)nm' from 'Fitch B(ind)'
- INR80m fund-based working capital limits: migrated to 'Fitch B(ind)nm'/'Fitch A4(ind)nm' from 'Fitch B(ind)'/'Fitch A4(ind)'
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