Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 7.00 ACUITE D | Reaffirmed | Issuer not co-operating* -
Total Outstanding 7.00 - -
Total Withdrawn 0.00 - -
* The issuer did not co-operate; based on best available information.
 
Rating Rationale

­Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs 7.00 crore bank facilities of Aarti Traders. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.


About the Company

­­Aarti Traders is a Proprietary firm started in 1992 by Mr. Suresh Kesvani. The firm has its shop at Mumbai. The firm is managed by Mr. Suresh Kesvani who has over 20 years of experience in the current line of business. It is involved in the manufacturing of finished fabric, which involves conversion of plain cloth to grey fabric, stitching on the embroidery, dying & packaging. It also trades in the fabric they procure material & sell it to retail customer.

 
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:

­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.

 
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 Acuite to comment upon."

 
Liquidity Position

­"No information provided by the issuer / available for Acuite to comment upon."

 
Outlook

­Not Applicable

 
Other Factors affecting Rating

­None

 
Status of non-cooperation with previous CRA

­Not Applicable

 
Any other information

­None

 
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

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
14 Jul 2023 Cash Credit Long Term 6.50 ACUITE D (Downgraded & Issuer not co-operating* from ACUITE C)
Cash Credit Long Term 0.50 ACUITE D (Downgraded & Issuer not co-operating* from ACUITE C)
23 Jun 2022 Cash Credit Long Term 6.50 ACUITE C (Downgraded & Issuer not co-operating* from ACUITE B+)
Cash Credit Long Term 0.50 ACUITE C (Downgraded & Issuer not co-operating* from ACUITE B+)
08 Mar 2022 Cash Credit Long Term 6.50 ACUITE B+ (Reaffirmed & Issuer not co-operating*)
Cash Credit Long Term 0.50 ACUITE B+ (Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Bank of Baroda Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 6.50 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Bank of Baroda Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.50 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.

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