Withdrawal of Credit Rating
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research (Ind-Ra) has withdrawn its credit rating on Suryaamba Spinning Mills' bank loan facilities of INR 445.74 million at the company's request. The agency confirmed it received a no-dues certificate from lenders, indicating all bank loan obligations have been settled. The company's previous long-term rating was BBB-/Stable with a short-term rating of IND A3+ (as of April 2025), which was itself revised down from BBB/Negative earlier. The withdrawal is procedural and not a rating action reflecting credit quality. SSML, incorporated in 2007, manufactures speciality synthetic spun yarn at its Nagpur facility with 52,180 spindles of installed capacity.
This is a positive signal for shareholders — the no-dues certificate confirms the company has fully cleared its bank borrowings, reducing interest costs and financial risk. However, the stock will no longer have publicly tracked credit ratings, which may limit visibility for some institutional investors.