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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 20.00 | ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating* | - |
| Bank Loan Ratings | 4.00 | - | ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* |
| Total Outstanding Quantum (Rs. Cr) | 0.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 24.00 | - | - |
| Rating Rationale |
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Acuité has reaffirmed and withdrawn the long-term rating of ‘ACUITE B+’ (read as ACUITE B Plus) and the short-term rating of ‘ACUITE A4’ (read as ACUITE A Four) on the Rs. 24.00 Crore bank facilities of Amba Agro Foods (AAF). The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information. The rating has been withdrawn on account of the request received from the company and NOC received from the banker on Acuite's policy of withdrawal of ratings. |
| About the Company |
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Established in 2008, Amba Agro Foods (AAF) is a Haryana Based partnership firm promoted by Mr. Narinder Kumar and Mr. Ashok Kumar. The firm is engaged in exporting of non-basmati and basmati rice to countries such as Dubai, Qatar and Africa. The firm procures rice from Haryana, Punjab and Uttar Pradesh. |
| Non-cooperation by the issuer/borrower: |
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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 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 co-operating”, in line with prevailing SEBI regulations and Acuité’s policies.
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| 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 nformation 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 |
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The entity has not shared the latest financial statement for Acuite to comment.
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| Rating Sensitivity |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Material Covenants |
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Not Applicable |
| Liquidity Position |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Outlook |
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Not Applicable |
| Other Factors affecting Rating |
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Not Applicable |
| Status of non-cooperation with previous CRA |
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None |
| Any other information |
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Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups. |
| Applicable Criteria |
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• 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 |
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In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in
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