India, May 6 -- India Ratings and Research (Ind-Ra) has downgraded Celon Laboratories Private Limited's (Celon) bank facilities to 'IND BB+'/Negative from 'IND BBB'/Stable and has simultaneously migrated the ratings to the non-cooperating category. The issuer did not participate in the rating exercise despite continuous requests and follow-ups by the agency through phone calls and emails. Thus, the rating is based on the best available information. Therefore, investors and other users are advised to take appropriate caution while using these ratings.
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