­Blaze Trust is a Non-Government Organisation-Micro Finance based in Tamil Nadu, India. The trust had started its operations in the year 2007. The trust focuses on Joint Liability Group (JLG), Self- Help Group (SHG), and Micro Credit Group (MCG) lending model for providing collateral free, small ticket-size loans amounting to Rs.10,000 to Rs.40,000 to group of economically active poor women for a period of 12 to 36 months. Blaze is presently working as a business correspondent with Kiara Microcredit Private Limited. The total portfolio of Blaze Trust stood at Rs 8.54 Crore of which managed portfolio stood at Rs 1.27 Crore as on March 31,2021.

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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 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.

­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 ratingis based.

­The rated entity has not shared the latest financial statements despite repeated requests.

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

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

­Not Applicable

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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.