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Fitch Ratings has withdrawn India-based micro-irrigation company Jain Irrigation Systems Limited's (JISL) Long-Term Issuer Default Ratings (IDR) of 'RD' and the 'C'/'RR4' rating on its $200 million 7.125 per cent senior unsecured notes due 2022. The notes are issued by JISL's wholly owned subsidiary, Jain International Trading B.V., and guaranteed by JISL, Fitch Ratings said. Fitch has withdrawn the ratings as the issuer has chosen to stop participating in the rating process, it said and added Fitch will no longer have sufficient information to maintain the ratings". Shares of Jain Irrigation closed 2.13 per cent lower at ₹13.31 on the BSE.
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