India, Sept. 16 -- India Ratings and Research (Ind-Ra) has revised the Outlook on LULU India Shopping Mall Private Limited's (LISMPL) bank loan facilities to Negative from Stable and has simultaneously migrated the ratings to the non-cooperating category. Ind-Ra has also downgraded the short-term rating to A3+ from A2 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 the rating.
Published by HT Digital Content Services with permission from Pivotal Sources....