Moody's takes action on Quintis
Rating Action: Moody's takes action on Quintis. Global Credit Research- 07 Jun 2017. Sydney, June 07, 2017-- Moody's Investors Service has downgraded Quintis Limited's corporate family rating and senior secured debt rating to Caa1 from B3, and has maintained the ratings on review for further downgrade.Quintis is an owner and manager of Indian sandalwood plantations in northern Australia. Co.'s principal activities include: the promotion of Sandalwood plantation investment to institutional investors; promotion of Sandalwood investment to investors and managed investment schemes; manufacture and distribution of Indian and Australian Sandalwood oil and related products; manufacture of pharmaceutical grade Indian Sandalwood oil for end customers; sale of harvested Indian Sandalwood to markets in China; research and development of botanical pharmaceuticals and bio- pharmaceutical products for commercialisation; and management and maintenance of Indian Sandalwood plantations.
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