(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 The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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.