ICRA Withdraws Ratings for Supreme Polymers Private Limited

ICRA has withdrawn the long-term and short-term ratings for Supreme Polymers Private Limited, citing the expiration of the three-year notice period since the ratings were suspended in July 2015. The long-term rating of BB and short-term rating of A4 have been withdrawn for the Rs. 17.00 crore bank facilities of the company. ICRA notes that the ratings were suspended to enable the company to clear its dues and restructure its debt obligations.

Key Takeaways:

• ICRA has withdrawn the long-term rating of BB and short-term rating of A4 for Supreme Polymers Private Limited's Rs. 17.00 crore bank facilities.
• The ratings were suspended in July 2015 to allow the company to clear its dues and restructure its debt obligations.
• The notice period of three years has expired, and ICRA has withdrawn the ratings.
• ICRA Ratings are subject to a process of surveillance, which may lead to revision in ratings.
• ICRA has not conducted any audit of the rated issuer or of the information provided by it.

Statistics:

• Rs. 17.00 crore: the bank facilities of Supreme Polymers Private Limited for which the ICRA ratings were withdrawn.
• 3 years: the notice period since the ratings were suspended in July 2015.
• 2015: the year in which the ratings were suspended.

Sources:

• ICRA Limited, "ICRA Withdraws Ratings for Supreme Polymers Private Limited"
• ICRA Limited, "ICRA Terms and Conditions"