India Ratings Downgrades Hetro Spinners's Bank Facilities to 'IND D(ISSUER NOT COOPERATING)'

India, May 9 -- India Ratings and Research (Ind-Ra) has downgraded Hetro Spinners Private Limited's (HSPL; erstwhile Sai Manasa Spintex (India) Limited) bank facilities to 'IND D(ISSUER NOT COOPERATING)' from 'IND B/Negative(ISSUER NOT COOPERATING) while maintaining the ratings in the non-cooperating category. The issuer did not participate in the rating review despite continuous requests and follow-ups by the agency. The rating is based on the best available information.

Published by HT Digital Content Services with permission from Pivotal Sources....