The rating outlook before withdrawal was stable.
“Given the current market conditions, the company has reversed its plans to gain access to the international debt capital markets. Moody’s has decided to withdraw the rating for its own business reasons,” Moody’s said.
The Rs 9,056 crore revenue
Highdell Investments Ltd, a subsidiary of private equity firm Warburg Pincus & Company US LLC, has a direct stake of 26.36 percent, Moody’s said.
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