* 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. 9.00 crore bank facilities of R N Trading Co (RNTC). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
R N Trading Company was established in 2002 by Mr. Raj Kumar Agarwal to trade in plastic granules. From 2013, the firm began manufacturing plastic household goods and furniture (buckets, mugs, stools) at Kolkata, West Bengal with capacity of 160 tons per month. With plans to expand capacity further to 320 tons per month, the firm has set up a project at South 24 Parganas in West Bengal. The operations of which are expected to commence from January 2018. The firm procures raw materials (granules) from Haldia Petrochemicals Limited.
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)
Cash Credit
Long Term
5.50
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Term Loan
Long Term
1.50
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
12 Dec 2023
Cash Credit
Long Term
2.00
ACUITE B
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
5.50
ACUITE B
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
1.50
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
Union Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.00
Simple
ACUITE B- | 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 B- | Reaffirmed | Issuer not co-operating*
Union Bank of India
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.50
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.
