* 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 reaffirmed the long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) on the Rs. 10.00 crore bank facilities of North East Paramedical Nursing Institute (NEPNI). The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
North East Paramedical Nursing Institute (NEPNI) School of Nursing is an Assam based non-profit making Institution run by North East Paramedical Nursing Institute (NEPNI) TRUST, which is a public charitable Trust established in 2005 and registered under the Sub-Registry Office, Kamrup (M). Under the educational services, the NEPNI Trust initiated the School of Nursing with 3 years GNM and 2 years ANM Nursing courses which is recognized by the Indian Nursing Council, New Delhi, Assam Nursing Council and approved by the Health Department, Govt. of Assam. NEPNI School of Nursing also enjoys the status of Minority Educational Institution under Sec 2 (g) of the Minority Educational Institutions Act 2004. NEPNI School of Nursing was awarded with Educational Excellence Award 2012. Initially the institute started with 3 year GNM course and in 2015 it also started with 2 year ANM course and in 2016 started with 1 year Ward assistant course. Mr. Babul Ali is the executive president of the organization.
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 B-
(Downgraded & Issuer not co-operating* from ACUITE B)
23 Oct 2023
Proposed Term Loan
Long Term
10.00
ACUITE B
(Reaffirmed & Issuer not co-operating*)
* 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
Not Applicable
Not avl. / Not appl.
Proposed Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
* 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.
