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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 15.00 | Not Applicable | Withdrawn | - |
Total Outstanding | 0.00 | - | - |
Total Withdrawn | 15.00 | - | - |
Rating Rationale |
Acuité has withdrawn the long-term rating on the Rs. 15.00 Cr. proposed bank loan facility of Peerless Financial Services Limited without assigning any rating. The withdrawal is on account of request received from client and in accordance with Acuite's policy on withdrawal of ratings as applicable to the respective facility / instrument.
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About the company |
Kolkata based Peerless Financial Services Limited was established in April, 1988 as a wholly owned subsidiary of The Peerless General Finance & Investment Company Limited. PFSL was initially involved in dealing and trading in financial instruments, bill discounting activities, leasing and hire-purchase business and merchant banking businesses. Later in 2017, the company commenced with offering Term Loans and other lines of Credit, both secured and unsecured, to individuals and other business entities under its various product categories, such as, Loan against Salary, Loan to Professionals, Business Loan, Equipment Finance, Loan against Marketable Securities, etc. PFSL is led by Mr. Abhishek Tantia (MD & CEO). As on December 31, 2022, PFSL operates in the state of West Bengal having presence in 11 districts with its 5 branches having a portfolio of Rs. 69.24 Cr. |
Unsupported Rating |
Not Applicable |
Analytical Approach |
Not Applicable |
Key Rating Drivers |
Strength |
Not Applicable |
Weakness |
Not Applicable |
Rating Sensitivity |
Not Applicable |
Liquidity Position |
Not Applicable |
Outlook: |
Not Applicable |
Other Factors affecting Rating |
None |
Key Financials - Standalone / Originator | ||||||||||||||||||||||||||||||||||||||||
* Total income equals to Net interest income plus other income ** Team doesnt have data on these parameters |
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Status of non-cooperation with previous CRA (if applicable): |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm |
Note on complexity levels of the rated instrument |
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. |
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Contacts |
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About Acuité Ratings & Research |
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