ACUITE A4+ | Downgraded | Issuer not co-operating*
RBI
Total Outstanding
0.00
100.00
-
-
-
Total Withdrawn
0.00
0.00
-
-
-
* 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
Acuité has downgraded its long-term rating to 'ACUITE BB' (read as ACUITE Double B) from 'ACUITE BBB-' (read as ACUITE Triple B Minus) and short-term rating to 'ACUITE A4+' (read as ACUITE A Four Plus) from 'ACUITE A3' (read as ACUITE A Three) on the Rs. 100.00 crore bank facilities of Girjai Infrastructures Private Limited.
The rating is now flagged as “Issuer Not-Cooperating” and is based on the best information available. The rating is downgraded on account of information risk.
About the Company
Maharashtra based, Girjai Infrastructures Private Limited Company was incorporated in 2018 as a Private Limited Company. It is engaged in the construction of Dams, bridges, barrages, tunnels, Canals, Highways and major building works. Current the directors of the company are Mrs. Parvati Mahadev Morge, Mr. Mahadeo Baliram Morge, Mr. Akash Shankarrao Morge, Mr. Shankar Baliram Morge and Mr. Mangal Shankar Morge.
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 noncooperation 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 Sensitivities
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer / available for Acuite to comment upon
Potential triggers (individual or collective) for a downward rating action:
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
ACUITE A4+ | Downgraded | Issuer not co-operating* ( from ACUITE A3 )
H D F C Bank Limited
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
37.50
Simple
ACUITE BB | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
Not Applicable
Not avl. / Not appl.
Proposed Short Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
7.00
Simple
ACUITE A4+ | Downgraded | Issuer not co-operating* ( from ACUITE A3 )
Not Applicable
Not avl. / Not appl.
Proposed Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
48.00
Simple
ACUITE BB | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
* 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.
