Fitch Ratings has withdrawn the ratings on Macrotech Developers (formerly Lodha Developers) but has retained its existing rating CCC, which is junk or below investment grade.
Fitch has affirmed the long-term foreign currency issuer default rating on Macrotech at CCC and has also simultaneously withdrawn the ratings for commercial reasons, the agency said on Thursday.
The rating affirmation reflects the assessment that there are no material changes to its credit profile since the last rating action on March 13.
Normally ratings are withdrawn if the issuer is not cooperating or ask for withdrawal.
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