Asian Energy Services Limited has informed the Exchange about Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Asian Energy Services Limited has announced the voluntary withdrawal of its credit rating assigned by India Ratings & Research (Ind-Ra) for bank loan facilities worth INR 1,250 million. The withdrawal was requested by the company with no-objection from its lenders, in line with Ind-Ra's policy on withdrawal of ratings. Prior to withdrawal, the rating was maintained at 'IND BBB/Rating Watch with Developing Implications' and 'IND A3+/Rating Watch with Developing Implications'. The company clarified that ratings from CRISIL Ratings Limited remain in force and continue to apply to its facilities.
The voluntary withdrawal of the Ind-Ra rating is a routine administrative action and does not indicate credit distress, as the company obtained lender consent and retains active ratings from CRISIL Ratings Limited.