Withdrawal of rating on Indian Bank will take place on or about, August 8, which is approximately 30 days from the date of this non-rating action commentary for commercial reasons, Fitch Ratings said in a statement.
Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient, it said.
It further said investors benefit from increased rating coverage by Fitch and is providing approximately 30 days notice to the market of the rating withdrawal of Indian Bank, it said.
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