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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 1.50 | - | ACUITE A4 | Downgraded & Withdrawn | Issuer not co-operating* |
| Bank Loan Ratings | 8.00 | ACUITE B+ | Downgraded & Withdrawn | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 0.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 9.50 | - | - |
| Rating Rationale |
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Acuité has downgraded & withdrawn the long-term rating from ‘ACUITE BB-’ (read as ACUITE double B minus) to 'ACUITE B+' (read as ACUITE B plus) and the short term rating from A4 + (read as Acuite A four plus) to Acuite A4 (read as Acuite A Four) on the Rs. 9.50 crore bank facilities of Shivalik India Alco Private Limited (SIPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. The rating withdrawal is in accordance with Acuité’s policy on withdrawal of rating. The rating is flagged as “Issuer Not Cooperating”. The rating is being withdrawn on account of request received from the company and NOC received from the banker. The rating has been downgraded on accout of information risk. |
| About the Company |
| The Maharashtra based, SIPL was incorporated in 2001 by Mr. Dutta and family to undertake Wholesale trading of liquor in Mumbai. The day-to-day operations are managed by Mr. Ashok Nityanand Dutta (Director). |
| Non-cooperation by the issuer/borrower: |
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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 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: |
| The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based. |
| About the Rated Entity - Key Financials |
| The entity has not shared the latest financial statements for Acuite to comment upon |
| Rating Sensitivity |
| No information provided by the issuer / available for Acuite to comment upon. |
| Material Covenants |
| None |
| Liquidity Position |
| No information provided by the issuer / available for Acuite to comment upon. |
| Outlook |
| Not Applicable. |
| Other Factors affecting Rating |
| Not Applicable. |
| Status of non-cooperation with previous CRA |
| None |
| Any other information |
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Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups |
| Applicable Criteria |
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• Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm |
| Note on Complexity Levels of the Rated Instrument |
| https://www.acuite.in/view-rating-criteria-55.htm |
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