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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 19.50 | ACUITE B- | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 19.50 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to 'ACUITE B- (read as ACUITE B minus) from ‘ACUITE B’ (read as ACUITE B) on the Rs. 19.50 crore bank facilities of Advaita Homes (AH) on account of information risk. The rating continues to be flagged as "Issuer Not-Cooperating" and is based on the best available information. |
About the Company |
The Bangalore-based Advaita Homes is a non-profitable trust established in 2008. The trust, headed by Dr.K. R. Sudhakar carries out social welfare activities including woman empowerment, rural development and imparts education to the financially weaker students. The trust also runs a school and a college under the name, Shantha Vidyaniketan. |
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 |
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 |
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Real Estate Entities: https://www.acuite.in/view-rating-criteria-63.htm |
Note on complexity levels of the rated instrument |
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* The issuer did not co-operate; based on best available information. |
Contacts |
About Acuité Ratings & Research |
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