ACUITE BB- | Downgraded | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
9.10
-
ACUITE A4 | Downgraded | Issuer not co-operating*
RBI
Total Outstanding
0.00
21.50
-
-
-
Total Withdrawn
0.00
0.00
-
-
-
* 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 downgraded the long-term rating to 'ACUITE BB-’ (read as ACUITE double B minus) from ‘ACUITE BB’ (read as ACUITE double B) and the short term rating to ‘ACUITE A4’ (read as ACUITE A four) from ‘ACUITE A4+’ (read as ACUITE A four plus) on the Rs. 21.50 crore bank facilities of Shri Maa Sales on account of information risk. The rating continues to be flagged as "Issuer Not-Cooperating" and is based on the best available information.
About the Company
Shri Maa Sales (SMS) is part of the Bhopal based Shri Maa Group which also includes Shri Maa Group Marketing Private Limited, Shri Maa Retail Private Limited, Aradhana Telecom. Shri Maa Sales was initially established as proprietorship concern by Mr. Ramswarupji Gupta in the year 1995. The concern was initially engaged in trading and distribution of FMCG products, consumer electronics, pharmacy, telecom, lighting and many more products in Datia district and Bhopal. It was associated with brands including Hindustan Lever Limited, Britannia Industry and Philips till the year 2009.
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 A4+
(Reaffirmed & Issuer not co-operating*)
Bank Guarantee (BLR)
Short Term
8.50
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
5.75
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
Proposed Long Term Bank Facility
Long Term
6.65
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
14 Dec 2023
Stand By Line of Credit
Short Term
0.60
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Bank Guarantee (BLR)
Short Term
8.50
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
5.75
ACUITE BB+
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Bank Facility
Long Term
6.65
ACUITE BB+
(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
State Bank of India
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
8.50
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
State Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.75
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
Not Applicable
Not avl. / Not appl.
Proposed Long Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.65
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
State Bank of India
Not avl. / Not appl.
Stand By Line of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.60
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
* 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.
