July 16, 2012 / 7:48 AM / 5 years ago

TEXT-Fitch migrates A.J. Toll's bank loan ratings to non-monitored

(The following statement was released by the rating agency)

July 16 - Fitch Ratings has migrated A.J. Toll Road Private Limited's (AJTRPL) bank loan ratings to the non-monitored category as follows:

- INR93.3m term loan: migrated to National Long-Term 'Fitch BBB+(ind)nm' from 'Fitch BBB+(ind)'

- INR250m bank guarantee: migrated to National Long-Term 'Fitch BBB(ind)nm' from 'Fitch BBB(ind)'

- INR231.6m bank loan: migrated to National Long-Term '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 the bank loans. The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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 reinstated and will be communicated through a Rating Action Commentary.

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