ACUITE A4+ | Reaffirmed | Issuer not co-operating*
RBI
Total Outstanding
0.00
37.00
-
-
-
Total Withdrawn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 its long-term rating to ‘ACUITE BB’ (read as ACUITE double B) from ‘ACUITE BB+’ (read as ACUITE double B plus) on the Rs.13.00 Cr. bank facilities and reaffirmed its short-term rating of ‘ACUITE A4+’ (read as ACUITE A four plus) on the Rs.24.00 crore bank facilities of Lyophilization Systems India Private Limited (LSIPL). The rating is now flagged as “Issuer Not-Cooperating” and is based on the best information available. The rating is downgraded on account of information risk.
About the Company
Hyderabad-based, Lyophilization Systems India Private Limited (LSIPL) was incorporated in 2003 by Mr. Satya Prasad and Mr. Narendar. LSIPL is engaged in the manufacturing of lyophilizers and its spares, it also provides post installation services. The company mainly caters to pharma industry.
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 Sensitivities
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer / available for Acuite to comment upon
Potential triggers (individual or collective) for a downward rating action:
No information provided by the issuer / available for Acuite to comment upon
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
3.50
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
Proposed Long Term Bank Facility
Long Term
1.00
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
19 Jun 2023
Bank Guarantee/Letter of Guarantee
Short Term
4.50
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
3.50
ACUITE BB+
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Bank Facility
Long Term
1.00
ACUITE BB+
(Reaffirmed & Issuer not co-operating*)
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Union Bank of India
Not avl. / Not appl.
Bank Guarantee/Letter of Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
12.00
Simple
ACUITE A4+ | Reaffirmed | Issuer not co-operating*
Union Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.50
Simple
ACUITE BB | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Union Bank of India
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
12.00
Simple
ACUITE A4+ | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Long Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
7.50
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.
