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Jun 21, 2012, 11.59 AM IST
Fitch Ratings has migrated India-based Tribhovandas Bhimji Zaveri (Delhi) Pvt Ltd's (TBZPL) 'Fitch BB+(ind)' National Long-Term rating with Stable Outlook to the non-monitored category.
Fitch Ratings has migrated India-based Tribhovandas Bhimji Zaveri (Delhi) Pvt Ltd's (TBZPL) 'Fitch BB+(ind)' National Long-Term rating with Stable Outlook to the non-monitored category. This rating will now appear as 'Fitch BB+(ind)nm' on the agency's website. Fitch has also migrated TBZPL's INR240m fund-based working capital limit (including INR20m adhoc limit) to 'Fitch BB+(ind)nm'/'Fitch A4+(ind)nm' from 'Fitch BB+(ind)'/'Fitch A4+(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 TBZPL. The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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 re-instated and any rating action will be communicated through a Rating Action Commentary.
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