ACUITE B- | Reaffirmed & Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
12.00
-
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
18.00
-
-
-
* 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Acuité has reaffirmed and withdrawn its long-term rating of ‘ACUITE B-’ (read as ACUITE B Minus) and short-term rating of 'ACUITE A4' (read as ACUITE A Four) on the Rs.18.00 Cr. bank facilities of Hyderabad Power Installations Private Limited (HPIPL). The rating has been withdrawn on account of the request received from the issuer and the NOC (No Objection Certificate) received from the banker.
The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility.
The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
Hyderabad Power Installations Private Limited (HPIPL), incorporated in 1976 is an EPC (engineering, procurement, and construction) contractor in the electricity and power sector. The company undertakes turnkey projects in electrical generation, substation, transmission and distribution among others. It has executed several projects in Andhra Pradesh and Telangana. Mr. Hymavathi Yerraguntla, Mr. Keshav Reddy Yaraguntla and Mr. Sambasiva Rao Eswarbotla are the directors of the company.
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 B-
(Downgraded & Issuer not co-operating* from ACUITE B)
15 Jan 2025
Bank Guarantee/Letter of Guarantee
Short Term
12.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
6.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
19 Oct 2023
Bank Guarantee/Letter of Guarantee
Short Term
12.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
6.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
* 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
Union Bank of India
Not avl. / Not appl.
Bank Guarantee/Letter of Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
12.00
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Union Bank of India
Not avl. / Not appl.
Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.00
Simple
ACUITE B- | 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.
