(The following statement was released by the rating agency)
July 18 - Fitch Ratings has withdrawn India-based Mokalbari Kanoi Tea Estate Pvt. Ltd.’s (MKTL) National Long-Term rating of ‘Fitch B+(ind)nm’. 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The ratings have been withdrawn due to lack of adequate information, and Fitch will no longer provide ratings or analytical coverage of MKTL.
Fitch migrated MKTL to the non-monitored category on 30 November 2011 (please refer to the rating action commentary available at www.fitchratings.com).
Fitch has also withdrawn MKTL’s bank loan ratings as follows:
- INR105m long-term loans: National Long-Term ‘Fitch B+(ind)nm’; rating withdrawn
- INR90m fund-based limits: National Long-Term ‘Fitch B+(ind)nm’; rating withdrawn
- INR0.6m non-fund based limits: National Short-Term ‘Fitch A4(ind)nm’; rating withdrawn