India Ratings Downgrades Shrinath Rotopack's Bank Loan Facilities to 'IND BB+/Negative(ISSUER NOT COOPERATING)'/'IND A4+(ISSUER NOT COOPERATING)'

India, Oct. 16 -- India Ratings and Research (Ind-Ra) has downgraded Shrinath Rotopack Private Limited's (SRPL) bank facilities to 'IND BB+/Negative(ISSUER NOT COOPERATING)'/'IND A4+(ISSUER NOT COOPERATING)' from 'IND BBB+/Negative(ISSUER NOT COOPERATING)'/'IND A2+(ISSUER NOT COOPERATING)'. The issuer did not participate in the rating exercise despite continuous requests and follow-ups by the agency through emails and phone calls. Thus, the ratings are 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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