­Kasi City Park (KCP), a Chennai based proprietorship firm established in 2014 by Mr. Mathivathanan. The firm operates a mall cum multiplex which was commenced in July 2018. The mall is located in Jafferkhanpet, Ashok Nagar in Chennai with 15 shopping stores and four movie screens. Movie halls has a capacity of 917 seats which runs 16 shows in week days and 22 shows on weekends. Kasi City Park is occupied with a built-up are of 60 thousand sq. ft out of which around 50 per cent is already rented out of commercial and leisure spaces. All the movie screens are operated by the management on revenue sharing basis with a distributor.

­­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.

­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 endeavored 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 rating is based.

­No information provided by the issuer / available for Acuite to comment upon.

­Not Applicable

­­No information provided by the issuer / available for Acuite to comment upon.

­Not Applicable

­Not Applicable

­None

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.

­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.