(The following statement was released by the rating agency)
July 25 - Fitch Ratings has migrated the ‘Fitch AA(ind)’ National Long-Term rating on India-based National Seed Corporation Limited’s (NSC) INR500m fund-based working capital limits to the non-monitored category. The rating will now appear as ‘Fitch AA(ind)nm’ on the agency’s website.
The rating has been migrated to the non-monitored category due to lack of adequate information available, and Fitch will no longer provide ratings or analytical coverage of NSC’s loans. The rating will remain in the non-monitored category for six months and be withdrawn at the end of that period.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 rating may be reinstated and will be communicated through a rating action commentary.