CRISIL Ratings withdraws Spicejet rating on ‘non-cooperation’
CRISIL Ratings has withdrawn the rating of Spicejet and put it under “non-cooperative” category as the carrier did not provide the requisite information sought by it, the rating agency has said.
SpiceJet on Tuesday said it had informed CRISIL on July 13 about its intention to work with an alternative rating agency to grade its investments, debt instruments and financing facility and therefore, the carrier was not obliged to provide any information to CRISIL.
In a press release dated October 29, 2021, CRISIL Ratings said it has been consistently following up with SpiceJet for obtaining information through letters and emails dated August 18, 2021, September 01, 2021, October 09, 2021 and October 14, 2021 among others, apart from telephonic communication.
