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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 7.50 | ACUITE B- | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 7.50 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to ‘ACUITE B-’ (read as ACUITE B minus) from 'ACUITE B' (read as ACUITE B) on the Rs. 7.50 crore bank facilities of Sri Sakthi Veeramathe Weaving (SSVW) 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 |
Sri Sakthi Veeramathe Weaving (SSVM) a partnership based firm established in 2017 located in Tamil Nadu. The firm is managed by Mrs. K Saratha and Mr. D. Krishna Moorthy. The firm primarily engaged in manufacturing of grey fabrics. The firm started its commercial operation from July 2018. The manufacturing facility is located at Dindigul, Tamil Nadu with an installed capacity of 24, 46,617 meters per annum. |
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. |
Limitation regarding information availability |
About the Rated Entity - Key Financials |
The rated entity has not shared the latest financial statements despite repeated requests. |
Rating Sensitivity |
"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." |
Outlook |
Not Applicable |
Other Factors affecting Rating |
None |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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 |
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* The issuer did not co-operate; based on best available information. |
Contacts |
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