* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
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 D Rice Exports Subhash Chand (HUF). The rating continues to be flagged as “Issuer Not Co-operating” and is based on the best available information.
About the Company
The Punjab based, B D Rice Exports Subhash Chand (HUF) was established in 2015 as a HUF concern by Mr. Subhash Chand. The firm is engaged in the business of milling and trading of basmati rice with an installed capacity of 3 ton per hour. The manufacturing facility is located in Sangrur (Punjab). The firm procures the raw material i.e. paddy from the local market and sells the final output i.e. rice in the domestic market. The firm sells rice under the 'Shauna' brand name
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
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Term Loan
Long Term
0.95
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Cash Credit
Long Term
1.00
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Proposed Long Term Loan
Long Term
2.55
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
08 Nov 2023
Term Loan
Long Term
0.95
ACUITE B
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
1.00
ACUITE B
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Loan
Long Term
2.55
ACUITE B
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
4.00
ACUITE B
(Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
4.00
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.00
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.55
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
Punjab National Bank
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.95
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
