Please find enclosed the Credit Rating withdrawn letter by India Ratings and Research Private Limited.
JETFREIGHT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings and Research has withdrawn the credit rating for Jet Freight Logistics Limited's bank loan facilities of INR 450 million. The rating was maintained in the 'non-cooperating' category before withdrawal because the company did not participate in the surveillance exercise despite repeated follow-ups by the agency. The company has not submitted monthly no default statements since February 2026. India Ratings received a no-objection certificate from lenders and a withdrawal request from the issuer. The previous ratings were IND BB+/Negative (Long-term) and IND A4+ (Short-term), both marked as 'ISSUER NOT COOPERATING'. The company has already obtained credit ratings from Infomerics Valuation and Rating Limited as an alternative.
The withdrawal due to non-cooperation signals weak governance and transparency concerns. Investors should be cautious as the company declined to share financial information with the rating agency, which may indicate underlying credit stress despite having alternative ratings from another agency.