The FINANCIAL — New Delhi/Singapore-10 October 2011: Fitch Ratings has migrated India-based Overseas Infrastructure Alliance (India) Private Limited's (OIAPL) 'Fitch BBB-(ind)' National Long-Term rating to the "Non-Monitored" category.
This rating will now appear as 'Fitch BBB-(ind)nm' on the agency's website. OIAPL's INR3800m non-fund-based working capital limit has also been migrated to 'Fitch BBB-(ind)nm'/'Fitch A3(ind)nm' from 'Fitch BBB-(ind)'/'Fitch A3(ind)'.
The ratings have been migrated to the "Non-Monitored" category due to lack of adequate information and Fitch will no longer provide ratings or analytical coverage of OIAPL. The ratings will remain in the "Non-Monitored" category for a period of six months and be withdrawn at the end of that period. However, in the event the issuer starts furnishing information during this six-month period, the ratings could be re-activated and will be communicated through a "Rating Action Commentary".
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