(The following statement was released by the rating agency)
July 25 - Fitch Ratings has withdrawn India-based Sharad Constructions Private Ltd’s (Sharad) National Long-Term ‘Fitch BB(ind)nm’ rating. A list of additional rating actions is provided at the end of this commentary.
The ratings have been withdrawn due to lack of adequate information. Fitch will no longer provide ratings or analytical coverage of Sharad.
Fitch migrated Sharad to the non-monitored category on 23 January 2012 (please see the rating action commentary available at www.fitchratings.com).
Fitch has also withdrawn Sharad’s bank loan ratings as follows:
INR0.68m long-term loans: National Long-Term ‘Fitch BB(ind)nm’; rating withdrawn
INR5m fund-based limits: National Long-Term ‘Fitch BB(ind)nm’; rating withdrawn
INR50m non-fund-based limits: National Short-Term ‘Fitch A4+(ind)nm’; rating withdrawn