Fitch Ratings has migrated Binani Cement's rating to non-monitored category from earlier national long-term 'Fitch A(ind)' rating with a negative outlook.

The ratings agency said that the non-monitored category due to lack of adequate information, and Fitch will no longer provide ratings or analytical coverage of BCL.

The ratings will remain in the non-monitored category for a period of six months and be withdrawn at the end of that period.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

Fitch has also classified Binani Cement's three bank loans totaling INR 1,506 crore into non-monitored category.

Source - Economic Times

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