CARE withdraws ratings Asian Tea & Exports bank facilities

The credit rating agency has withdrawn the outstanding rating of ‘CARE BB; Stable/CARE A4; Issuer Not Cooperating’ on the company’s request.

Feb 26, 2021 11:02 IST India Infoline News Service

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Asian Tea & Exports Limited informed the exchanges Thursday that at the company's request, Credit Analysis & Research Ltd, (CARE) has withdrawn the ratings assigned to the bank facilities of the company.

“At the request of the company vide email dated February 18, 2021, along with ‘No Objection Certificate’ dated February 18, 2021, from Kotak Mahindra Bank & Aditya Birla Finance Limited, we hereby withdraw the outstanding rating of ‘CARE BB; Stable/CARE A4; Issuer Not Cooperating’ assigned to the bank facilities of your company with immediate effect,” company said in a regulatory filing on Thursday.

Ata round 11.42 am, the company stock was trading at Rs17.50 per piece down Rs0.50 or 2.78% on the BSE.

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