India, July 8 -- India Ratings and Research (Ind-Ra) has downgraded Synergies Castings Limited's (SCL) proposed bank loans to 'IND B+'/Stable/IND A4 from 'IND BB+'/Stable/IND A4+ 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. The rating will now appear as 'IND B+'/Stable(ISSUER NOT COOPERATING)/IND A4(ISSUER NOT COOPERATING) on the agency's website.
Published by HT Digital Content Services with permission fr...