Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 0.50 - ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Bank Loan Ratings 4.50 ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 0.00 - -
Total Withdrawn Quantum (Rs. Cr) 5.00 - -
 
Rating Rationale
­Acuité has reaffirmed & withdrawn the long-term rating of ‘ACUITE B+’ (read as ACUITE B plus) and the short term rating to ‘ACUITE A4’(read as ACUITE A four) on the Rs.5.00 Cr bank facilities of H. D. Trailers Private Limited (HDTPL). The rating withdrawal is in accordance with Acuité’s policy on withdrawal of rating. The rating is flagged as “Issuer NotCooperating”. The rating is being withdrawn on account of request received from the company and NOC received from the banker.

About the Company
­HDTPL was established as a private limited firm in the year 2011, Mumbai based company under the directorship of Mr.Partha Ghosh. Firm is currently a distributor and supplier of Trailer parts and Trailer spare parts in India.
 
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 an 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:
­The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavoured to gather information about the entity/ industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit ratingis based.
 
About the Rated Entity - Key Financials
­The rated entity has not shared the latest financial statements despite repeated requests.
 
Rating Sensitivity
­No information provided by the issuer / available for Acuite to comment upon.
 
Material Covenants
­None
 
Liquidity Position
­No information provided by the issuer / available for Acuite to comment upon.
 
Outlook
­Not Applicable.
 
Status of non-cooperation with previous CRA
­Not available
 
Any other information
­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.
 
Applicable Criteria
• Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm
Note on Complexity Levels of the Rated Instrument
https://www.acuite.in/view-rating-criteria-55.htm

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
28 Jul 2021 Cash Credit Long Term 0.80 ACUITE B+ (Downgraded and Issuer not co-operating*)
Bills Discounting Short Term 0.50 ACUITE A4 (Downgraded and Issuer not co-operating*)
Proposed Long Term Loan Long Term 1.00 ACUITE B+ (Downgraded and Issuer not co-operating*)
Proposed Bank Guarantee Long Term 0.70 ACUITE B+ (Downgraded and Issuer not co-operating*)
Proposed Cash Credit Long Term 2.00 ACUITE B+ (Downgraded and Issuer not co-operating*)
05 May 2020 Proposed Bank Guarantee Long Term 0.70 ACUITE BB- (Issuer not co-operating*)
Proposed Long Term Loan Long Term 1.00 ACUITE BB- (Issuer not co-operating*)
Proposed Cash Credit Short Term 2.00 ACUITE BB- (Issuer not co-operating*)
Bills Discounting Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
Cash Credit Long Term 0.80 ACUITE BB- (Issuer not co-operating*)
11 Mar 2019 Proposed Cash Credit Long Term 2.00 ACUITE BB- (Issuer not co-operating*)
Proposed Bank Guarantee Long Term 0.70 ACUITE BB- (Issuer not co-operating*)
Cash Credit Long Term 0.80 ACUITE BB- (Issuer not co-operating*)
Bills Discounting Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
Proposed Long Term Loan Long Term 1.00 ACUITE BB- (Issuer not co-operating*)
30 Jan 2018 Cash Credit Long Term 0.80 ACUITE BB- (Issuer not co-operating*)
Bills Discounting Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
Proposed Cash Credit Long Term 2.00 ACUITE BB- (Issuer not co-operating*)
Proposed Long Term Loan Long Term 1.00 ACUITE BB- (Issuer not co-operating*)
Proposed Bank Guarantee Long Term 0.70 ACUITE BB- (Issuer not co-operating*)
04 Oct 2016 Cash Credit Long Term 0.80 ACUITE BB- | Stable (Assigned)
Bills Discounting Short Term 0.50 ACUITE A4+ (Assigned)
Proposed Cash Credit Long Term 2.00 ACUITE BB- | Stable (Assigned)
Proposed Long Term Loan Long Term 1.00 ACUITE BB- | Stable (Assigned)
Proposed Bank Guarantee Long Term 0.70 ACUITE BB- | Stable (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating
HDFC Bank Ltd Not Applicable Bills Discounting Not Applicable Not Applicable Not Applicable 0.50 ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
HDFC Bank Ltd Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 0.80 ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*
Not Applicable Not Applicable Proposed Bank Guarantee Not Applicable Not Applicable Not Applicable 0.70 ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*
Not Applicable Not Applicable Proposed Cash Credit Not Applicable Not Applicable Not Applicable 2.00 ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*
Not Applicable Not Applicable Proposed Long Term Loan Not Applicable Not Applicable Not Applicable 1.00 ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*

Contacts
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About Acuité Ratings & Research
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