ACUITE C | Reaffirmed & Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
45.45
-
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
64.45
-
-
-
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has reaffirmed and withdrawn its long-term rating of ‘ACUITE C’ (read as ACUITE C) and the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on Rs. 64.45 Cr. bank facilities of Alok Buildtech Private Limited (ABPL). The rating continuous to be flagged as “Issuer Not-Cooperating” and is based on the best available information. The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. The rating has been withdrawn on account of the request received from the issuer and NOCs (No Objection Certificate) received from the lenders.
About the Company
Incorporated in 2016, Alok Buildtech Private Limited (ABPL) is a Chhattisgarh based company, promoted, and currently headed by Mr. Alok Shivhare, and his son, Mr. Apoorv Shivhare. The company is engaged in civil construction of roads and bridges. The company is registered as ‘A5’ class contractor and as a Special Class Contractor with the Public Work Departments (PWD) of Chhattisgarh. ABPL procures the work contracts through tenders and executes orders for various departments of Public Work Department, Chhattisgarh Rural Road Development Agency (CGRRDA), Pradhan Mantri Gram Sadak Yojana (PMGSY) etc.
Unsupported Rating
Not Applicable
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 non cooperation 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
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon.
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A3)
Bank Guarantee (BLR)
Short Term
18.95
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A3)
Cash Credit
Long Term
8.00
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE BBB- | Stable)
Cash Credit
Long Term
11.00
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE BBB- | Stable)
15 Oct 2024
Bank Guarantee (BLR)
Short Term
18.95
ACUITE A3
(Upgraded from ACUITE A4+)
Bank Guarantee (BLR)
Short Term
26.50
ACUITE A3
(Upgraded from ACUITE A4+)
Cash Credit
Long Term
8.00
ACUITE BBB- | Stable
(Assigned)
Cash Credit
Long Term
11.00
ACUITE BBB- | Stable
(Upgraded from ACUITE BB+)
06 Aug 2024
Bank Guarantee (BLR)
Short Term
18.95
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3)
Bank Guarantee (BLR)
Short Term
26.50
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3)
Cash Credit
Long Term
11.00
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB- | Stable)
18 May 2023
Bank Guarantee (BLR)
Short Term
26.50
ACUITE A3
(Upgraded from ACUITE A4+)
Bank Guarantee (BLR)
Short Term
18.95
ACUITE A3
(Assigned)
Cash Credit
Long Term
11.00
ACUITE BBB- | Stable
(Upgraded from ACUITE BB+)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
H D F C Bank Limited
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
26.50
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
H D F C Bank Limited
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
18.95
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
YES BANK LIMITED
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
8.00
Simple
ACUITE C | Reaffirmed & Withdrawn | Issuer not co-operating*
H D F C Bank Limited
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
11.00
Simple
ACUITE C | Reaffirmed & Withdrawn | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
