ICRA suspends LBB+ rating on long-term fund based facilities of Union Chains & Jewellers.

(ADPnews) - Feb 23, 2011 - ICRA suspended yesterday the LBB+ rating on the long-term fund based facilities of Union Chains & Jewellers Private Ltd.

The agency issued the following press release:

ICRA has suspended the LBB+ (pronounced L double B plus) rating assigned to the Rs. 18 crore1 long term fund based facilities of Union Chains & Jewellery Private Limited (UCJPL) a and A4+ (pronounced A four plus) rating assigned to Rs. 0.5 crore short term fund based sub-limit of UCJPL. The suspension follows ICRA's inability to carry out a rating surveillance in the absence of the requisite information from the Company.

According to its suspension policy, …