Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 8.50 ACUITE B- | Reaffirmed | Issuer not co-operating* -
Total Outstanding 8.50 - -
Total Withdrawn 0.00 - -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 B-’ (read as ACUITE B minus) on the Rs. 8.50 crore bank facilities of B B International. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.


About the Company

­Karnal based, B B International is a partnership firm that was incorporated in 1997 and is currently being managed by Mr. Devender Mittal and Mr. Praveen Mittal. The partners have an experience of around two decades in rice milling industry. The firm is engaged in milling of rice (basmati). The firm is also engaged in job work for other companies. The firm has installed capacity of 8- 10 tonnes per hour.

 
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

­"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

 

Particulars Unit FY 16 (Actual) FY 15 (Actual)
Operating Income Rs. Cr. 8.10 5.45
PAT Rs. Cr. 0.12 0.10
PAT Margin (%) 1.45 1.91
Total Debt/Tangible Net Worth Times 1.85 2.48
PBDIT/Interest Times 2.34 2.85
Status of non-cooperation with previous CRA

­Not Applicable

 
Any other information

­None

 
Applicable Criteria
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm

Note on complexity levels of the rated instrument

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
15 Jul 2024 Secured Overdraft Long Term 2.00 ACUITE B- (Downgraded & Issuer not co-operating* from ACUITE B)
Warehouse Receipt Financing Long Term 5.00 ACUITE B- (Downgraded & Issuer not co-operating* from ACUITE B)
Proposed Long Term Loan Long Term 1.50 ACUITE B- (Downgraded & Issuer not co-operating* from ACUITE B)
18 Apr 2023 Secured Overdraft Long Term 2.00 ACUITE B (Reaffirmed & Issuer not co-operating*)
Warehouse Receipt Financing Long Term 5.00 ACUITE B (Reaffirmed & Issuer not co-operating*)
Proposed Long Term Loan Long Term 1.50 ACUITE B (Reaffirmed & Issuer not co-operating*)
19 Jan 2022 Proposed Long Term Loan Long Term 1.50 ACUITE B (Reaffirmed & Issuer not co-operating*)
Warehouse Receipt Financing Long Term 5.00 ACUITE B (Reaffirmed & Issuer not co-operating*)
Secured Overdraft Long Term 2.00 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
Not Applicable Not avl. / Not appl. Proposed Long Term Loan Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.50 Simple ACUITE B- | Reaffirmed | Issuer not co-operating*
Punjab National Bank Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.00 Simple ACUITE B- | Reaffirmed | Issuer not co-operating*
Punjab National Bank Not avl. / Not appl. Warehouse Receipt Financing Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 5.00 Simple ACUITE B- | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.

Disclosure of list of non-cooperative issuers
• Listed :- https://www.acuite.in/Non-Cooperative_Issuer_Listed.php
• Unlisted :- https://www.acuite.in/Non-Cooperative_Issuer_Unlisted.php


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