India Ratings Downgrades Shyam Spectra's Bank Facilities to 'IND BB /Negative(ISSUER NOT COOPERATING)/IND A4+(ISSUER NOT COOPERATING)

India, Nov. 28 -- India Ratings and Research (Ind-Ra) has downgraded Shyam Spectra Private Limited's (SSPL) bank facilities' ratings to 'IND BB/Negative(ISSUER NOT COOPERATING)/ IND A4+ (ISSUER NOT COOPERATING)' from 'IND BBB/Negative(ISSUER NOT COOPRATING)/IND A3+(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 rating is based on the best available information.

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