* 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 its long-term rating of 'ACUITE D' (read as ACUITE D) on Rs.40 Cr. bank facilities of Harshitha Hospitals Private Limited (HHPL). The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
Harshitha Hospitals Private Limited (HHPL) is based out of Madurai, Tamil Nadu. Established in the year 2009 and commenced operations in 2011, HHPL offers clinical excellence through experienced doctors, high-end infrastructure and transparent patient care. Hospital’s facility is a NABH-accredited advanced tertiary care facility with 100-beds and state-of-the-art infrastructure. The hospital is owned by the Harshitha Hospitals Private Limited which worked both as a COVID Centre and Hospital. The directors of the company are Ilankumaran Chidambaram Nataraja Perumal, Chidambaram Natarajaperumal, and Raja Chidambaram Chidambaram Nataraja Perumal.
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."
* 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.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
8.33
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
Canara Bank
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
31.67
Simple
ACUITE D | 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.
