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Fitch migrates Karur Vysya to non-monitored category
Fitch Ratings has migrated India-based Karur Vysya Bank Limited's (KVB) 'Fitch A+(ind)' National long-term rating, which had a Stable Outlook, to the non-monitored category.
Fitch Ratings-Mumbai/Singapore-17 February 2012: Fitch Ratings has migrated India-based Karur Vysya Bank Limited's (KVB) 'Fitch A+(ind)' National long-term rating, which had a Stable Outlook, to the non-monitored category. The rating will now appear as 'Fitch A+(ind)nm' on the agency's website. The rating on KVB's INR3bn lower tier 2 subordinated debt programme has also been migrated to 'Fitch A+(ind)nm' from 'Fitch A+(ind)'.
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 KVB. The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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 will be re-activated and communicated through a Rating Action Commentary.
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