Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 10.00 ACUITE D | Downgraded | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 10.00 - -
Rating Rationale
­Acuité has downgraded its long term rating to ‘ACUITE D' (read as ACUITE D)’ from ‘ACUITE B+' (read as ACUITE B plus) on the Rs.10.00 crore bank facilities of B R R Aqua Traders Private Limited. The rating continues to be flagged as “Issue Not Cooperating”. The downgrade is on the account of default as confirmed by the banker

About the Company
­Vijayawada-based BRR Aqua Traders Private Limited (BATPL), directed by Harshavardhan Bhupathiraju, Rama Raju Venkata Prudvi Bhupathiraju and Kaacham Vidyarani, was incorporated on December 16, 2016. It is engaged in the trading of fish and prawns. The company sells prawns to local dealers in Bhimavaram and fish to customers in West Bengal, Bihar, Delhi and Assam among others.
Non-cooperation by the issuer/borrower:
­Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date. Acuité believes that information risk is a critical component in such ratings, and noncooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability:
­The rating is based on information available from sources other than the issuer / borrower (in the absence of information provided by the issuer / borrower). Acuité endeavored to gather information about the entity / industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.
Rating Sensitivity
­No information provided by the issuer / available for Acuite to comment upon
Material Covenants
Liquidity Position
­No information provided by the issuer / available for Acuite to comment upon
Outlook: ­Not Applicable
Key Financials
­The rated entity has not shared the latest financial statements despite repeated requests
Status of non-cooperation with previous CRA
Applicable Criteria
• Manufacturing Entities:
• Default Recognition:
• Application Of Financial Ratios And Adjustments:

Note on Complexity Levels of the Rated Instrument
­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
24 Nov 2022 Secured Overdraft Long Term 10.00 ACUITE B+ ( Issuer not co-operating*)
26 Aug 2021 Secured Overdraft Long Term 10.00 ACUITE B+ ( Issuer not co-operating*)
23 Jun 2020 Secured Overdraft Long Term 10.00 ACUITE B+ (Issuer not co-operating*)

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating
Karur Vysya Bank Not Applicable Secured Overdraft Not Applicable Not Applicable Not Applicable 10.00 Simple ACUITE D | Downgraded | Issuer not co-operating*

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