ICRA Withdraws Suspended Rating of Surya Construction Company's Bank Lines

ICRA, a leading rating agency, has withdrawn the suspended rating of [ICRA]B+ (pronounced ICRA B plus) assigned to the Rs. 6.80 crore bank lines of Surya Construction Company. According to ICRA's policy, a rating can be withdrawn if it remains suspended for more than three years. This decision was made in April 2015, effectively terminating the suspended rating.

Key Takeaways:

• The suspended rating of [ICRA]B+ was assigned to the Rs. 6.80 crore bank lines of Surya Construction Company.
• ICRA withdrew the rating due to its policy of suspending ratings that remain suspended for more than three years.
• The decision was made in April 2015, resulting in the termination of the suspended rating.
• Surya Construction Company had bank lines worth Rs. 6.80 crore.
• ICRA had suspended the rating due to concerns with the company's ability to timely service its debts.
• The withdrawal of the rating indicates that ICRA's concerns have been addressed.
• ICRA's rating agency, with contact information: Mr. Sabyasachi Majumdar sabyasachi@icraindia.com and Mr. Vivek Mathur vivek@icraindia.com.
• ICRA's website, where the latest information on ratings outstanding can be obtained: www.icra.in.

Statistics:

• Rs. 6.80 crore: the value of the bank lines assigned to Surya Construction Company.
• 3 years: the duration after which ICRA will withdraw a suspended rating.
• April 2015: the month and year in which ICRA withdrew the suspended rating.
• Rs. 6.80 crore: the exact value of the bank lines assigned to Surya Construction Company multiple times for emphasis.

Sources:

• http://www.icraindia.com
• ICRA's website, where the latest information on ratings outstanding can be obtained.
• ICRA's policy on withdrawals: http://www.icraindia.com/icra-policy
• http://www.icraindia.com/icra-access