TEXT-Fitch Migrates Vikrant Forge to Non-Monitored Category

(The following was released by the rating agency)

July 23 (Fitch) Fitch Ratings has migrated India-based Vikrant Forge Limited's (VFL) '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. A list of additional rating actions is provided at the end of this commentary. 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 VFL.

The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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

Fitch has also migrated VFL's bank loans to the non-monitored category as follows:

- INR33m long-term loans: migrated to National Long-Term 'Fitch BB-(ind)nm' from 'Fitch BB-(ind)'

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