Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) has announced the withdrawal of its credit rating for bank facilities. This action was taken at the company's request and with the no-objection of its bankers. Brickwork Ratings India Private Limited has withdrawn the ratings assigned to both fund-based and non-fund-based facilities for the company, which was acquired under the Corporate Insolvency Resolution Process (CIRP). The press release from Brickwork Ratings is available on their website.
