Fitch Ratings withdraws 'F1+(ind)' rating on Hyundai India

Global credit rating agency, Fitch Ratings today withdrew its 'F1+(ind)' rating assigned to Hyundai Motor India's (HMIL) Rs 50 crore  commercial paper program.

HMIL is a subsidiary of Korea's Hyundai Motor Company and is India's second largest car manufacturer after Maruti Suzuki with a share of close to 18 per cent.

"There is no outstanding instrument under the ratings. Fitch will no longer provide analytical coverage on the issuer", stated the agency in a media release.