ACUITE BB- | Reaffirmed & Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
25.00
-
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
28.00
-
-
-
* 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
Acuite has reaffirmed and withdrawn its long-term rating of ‘ACUITE BB-’ (read as ACUITE double B minus) on the Rs. 3.00 crore bank facilities and short term rating of ‘ACUITE A4’ (read as ACUITE A Four) on the Rs.25.00 Cr, bank facilities of Ciscons Constructions Private Limited. The rating has been withdrawn on account of the request received from the issuer and the NOC (No Objection Certificate) received from the lender.
The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility.
The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
Ciscons Constructions Private Limited is a Hyderabad based company incorporated in the year 2013. The company is promoted by Mr. Vemuri Venugopal and Ms. Nimmagadda Harshitha. It is engaged in execution of civil works. The company does works such as construction of buildings, foundation works, plumbing works, and back fillings works among others. The company is primarily engaged in executing works at thermal power plants.
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 A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Cash Credit
Long Term
3.00
ACUITE BB-
(Downgraded & Issuer not co-operating* from ACUITE BB | Stable)
31 Jul 2024
Bank Guarantee (BLR)
Short Term
25.00
ACUITE A4+
(Reaffirmed)
Cash Credit
Long Term
3.00
ACUITE BB | Stable
(Reaffirmed)
05 May 2023
Bank Guarantee (BLR)
Short Term
22.00
ACUITE A4+
(Reaffirmed)
Bank Guarantee/Letter of Guarantee
Short Term
3.00
ACUITE A4+
(Assigned)
Cash Credit
Long Term
3.00
ACUITE BB | Stable
(Reaffirmed)
* 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
Canara Bank
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
25.00
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Canara Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE BB- | Reaffirmed & Withdrawn | 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.
