|
Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 34.00 | ACUITE B | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding Quantum (Rs. Cr) | 34.00 | - | - |
Total Withdrawn Quantum (Rs. Cr) | 0.00 | - | - |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE B’ (read as ACUITE B) on the Rs. 34.00 crore bank facilities of Sainath Autolinks Private Limited. The rating continues to be flagged as “Issuer Not Co-operating” and is based on the best available information.
|
About the Company |
Sainath Autolinks Private Limited (SAPL) was incorporated on 16 April, 2010 by Mr. Mohan Chawla and Mr. Amarjeet Chawla. The company is engaged in the passenger vehicle business and is an authorised dealer of Maruti Suzuki. The company has three showrooms with workshop facility at Durgapur, Santiniketan and Purulia, West Bengal.
|
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 an unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. |
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 has endeavoured 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.
|
About the Rated Entity- Key Financials |
The rated entity has not shared the latest financial statements despite repeated requests.
|
Rating Sensitivity |
No information provided by the issuer / available for Acuité to comment upon.
|
Material Covenants |
Not Applicable |
Liquidity Position |
No information provided by the issuer / available for Acuité to comment upon.
|
Outlook |
Not Applicable |
Status of non-cooperation with previous CRA |
None |
Any other information |
Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.
|
Applicable Criteria |
• Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm |
Note on Complexity Levels of the Rated Instrument |
https://www.acuite.in/view-rating-criteria-55.htm |
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
About Acuité Ratings & Research |
Acuité Ratings & Research Limited | www.acuite.in |