OREANDA-NEWS. Moody's Investors Service has withdrawn Sintex Industries Ltd's Ba2 corporate family rating with a stable outlook.

Moody's has withdrawn the rating for its own business reasons.

Incorporated as Bharat Vijay Mills Ltd (BVML) in 1931, Sintex Industries Ltd is an Indian-based manufacturer of textile yarn and fabric and a producer of plastic mouldings and structures, with operations in nine countries. Sintex reported net sales of INR48.3 billion in the fiscal year ending March 2016. Listed in 2000 on the National Stock Exchange (NSE), it is 32.5%-owned by the Patel-family promoter group as of 30 June.