Kolkata, Aug 22 (IBNS) India Ratings & Research (Ind-Ra) has migrated two Himatsingka Group's entities 'IND BB-' Long-Term Issuer Rating to the suspended category. The Outlook was 'Stable'.
Ind-Ra had taken a consolidated view of the Himatsingka group while assigning the ratings to the two entities, namely Maurya Motors Limited (MML) and Shankar Motors Limited (SML).
The rating will now appear as ´IND BB-(suspended)´ on the agency´s website. A full list of rating actions is at the end of this commentary.
The ratings have been migrated to the suspended category due to the lack of adequate information. Ind-Ra will no longer provide ratings or analytical coverage for Himatsingka group.
The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period.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 will be communicated through a rating action commentary.