(The following statement was released by the rating agency)
Aug 21 - Fitch Ratings has migrated India-based MEP Infrastructure Private Limited’s (MEP Infra) senior project bank loan ratings to the non-monitored category as follows:
- INR21.21bn senior project bank loan tranche 1: migrated to National Long-Term ‘Fitch BBB-(ind)nm’ from ‘Fitch BBB-(ind)’
- INR4bn senior project bank loan tranche 2: migrated to National Long-Term ‘Fitch BBB-(ind)nm’ from ‘Fitch BBB-(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 MEP Infra’s 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 The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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 re-activated and will be communicated through a rating action commentary.