The Hindu Business Line : Hindustan Organic NCD downgraded

MUMBAI: Crisil has downgraded the ratings assigned to Hindustan Organic Chemical Ltd's Rs 100 crore and Rs 50 crore non-convertible debenture issues to `C' from `D' previously.

The rating assigned to the company's fixed deposit programme has also been downgraded to `FD' from the previous rating of `FC', said a press release.

The ratings reflect that the company is in default and in arrears of interest and principal payments, the release said.

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