* 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 downgraded the long-term rating to ‘ACUITE B-’ (read as ACUITE B minus) from 'ACUITE B' (read as ACUITE B) and reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs.29.50 Crore bank facilities of D K Bharat Simha Reddy (DKBSR) on account of information risk. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
D K Bharat Simha Reddy was established in 2001 by Mr. D K Bharat Simha Reddy. The firm is engaged in providing road construction service to Telengana Government. D K Bharat Simha Reddy majorly caters to various departments of Telangana Government and during FY19, the firm has started sub-contracting work for National Highways. The registered office is located at Mehboobnagar, Telangana.
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+)
Proposed Secured Overdraft
Long Term
0.20
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
29 Jan 2024
Bank Guarantee/Letter of Guarantee
Short Term
10.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Proposed Bank Guarantee
Short Term
17.30
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Proposed Secured Overdraft
Long Term
0.20
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
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Union Bank of India
Not avl. / Not appl.
Bank Guarantee/Letter of Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Bank Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
17.30
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.20
Simple
ACUITE B- | Downgraded | Issuer not co-operating* ( from ACUITE B )
Union Bank of India
Not avl. / Not appl.
Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.00
Simple
ACUITE B- | Downgraded | Issuer not co-operating* ( from ACUITE B )
* 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.
