ACUITE BB+ | Downgraded | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
14.45
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
-
RBI
Total Outstanding
0.00
11.05
-
-
-
Total Withdrawn
0.00
14.45
-
-
-
* 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
Acuite has downgraded its long-term rating to 'ACUITE BB+' (read as ACUITE double B Plus) from 'ACUITE BBB-' (read as ACUITE triple B minus) on Rs.11.05 Cr. bank facilities of Sarvottam Healthcare Private Limited (SHPL). The downgraded is on account of information risk.
Further, Acuité has withdrawn the long-tem rating of the Rs. 14.45 Cr. proposed Facilities of Sarvottam Healthcare Private Limited (SHPL). The same is withdrawn without assigning any rating as it is proposed facilities. The rating withdrawal is in accordance with the Acuité's policy on withdrawal of rating as applicable to the respective facility / instrument. The rating is being withdrawn on account of request received from the company.
The rating is now flagged as “Issuer Not-Cooperating” on account of information risk and is based on the best available information.
About the Company
Kakinada-based Sarvottam Healthcare Private Limited (SHPL) was established in 2010 with ten doctors, including super-specialists. The company runs a 183-bed multi-specialty hospital located in Kakinada under the name ‘Trust Hospital,’ offering a range of healthcare services in the fields of orthocare, nephrology, gastroenterology, cardiology, and cardiothoracic segments, to name a few. SHPL is promoted by Dr. H. D. Shenoy and Dr. Kalyana Chakravarthy Yeluri, who have around three decades of experience in the healthcare 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 noncooperation by the issuer along with an 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 Not Applicable | Withdrawn | Issuer not co-operating*
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Mar 2028
2.02
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Nov 2027
0.35
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Jun 2027
1.61
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Nov 2027
0.09
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Nov 2027
4.43
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
10 Nov 2027
2.55
Simple
ACUITE BB+ | Downgraded | Issuer not co-operating* ( from ACUITE BBB- )
* 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.
