ACUITE BB- | Downgraded | Issuer not co-operating*
-
RBI
Total Outstanding
0.00
12.50
-
-
-
Total Withdrawn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 the long-term rating to ‘ACUITE BB-’ (read as ACUITE double B minus) from 'ACUITE BB' (read as ACUITE double B) on the Rs. 12.50 crore bank facilities of Him Urja Private Limited 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
Him Urja Private Limited, a Private Limited incorporated on 01-02-1995 registered under The Companies Act 1956 was undertaken in July 1998 by Mr. Arun Gupta, who is the Chairman cum Managing Director of the company. The Company is engaged in the generation of electricity and presently running two ROR Small Hydro Projects namely 4.4 MW Rajwakti Small Hydro-electric Power Station and 15 MW Vanala Small Hydro-electric Power Station both situated on Nandakini river in Chamoli district of Uttarakhand.
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 BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
06 Dec 2023
Term Loan
Long Term
12.50
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB+ | Stable)
* 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
Indian Renewable Energy Development Agency Ltd. (IREDA)
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
12.50
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
* 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.
