Acuite has withdrawn its rating on Rs.35.00 crore bank facilities of Kalbavi Cashews. The rating withdrawal is in accordance with the Acuité’s policy on withdrawal of rating. The rating is being withdrawn on account of request received from the company and NDC received from the banker.
About the Company
Mangalore based, Kalbavi Cashews is a partnership firm established in the year 1987. The partners of the firm are Mr. Kalbavi Prakash Rao, Mrs. Gowri P. Rao and Mr. Adeeth Rao. The firm is engaged in the processing and trading of varieties of cashew nuts in the domestic market. The cashews are marketed under the brand name of Kalbavi Cashews with the brand mascot being Kajooman.
Analytical Approach
Not Applicable
Key Rating Drivers
Strengths
Not Applicable
Weaknesses
Not Applicable
Rating Sensitivities
Not Applicable
Material covenants
None
Liquidity Position
Not Applicable
Outlook
Not Applicable
About the Rated Entity - Key Financials
The rated entity has not shared the latest financial statement for Acuite to comment
Status of non-cooperation with previous CRA (if applicable)
In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.
Date
Name of Instruments/Facilities
Term
Amount (Rs. Cr)
Rating/Outlook
14 Jan 2022
Cash Credit
Long Term
35.00
ACUITE BBB | Stable
(Reaffirmed)
20 Oct 2020
Cash Credit
Long Term
35.00
ACUITE BBB | Stable
(Upgraded from ACUITE BBB- | Stable)
