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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 249.00 | - | ACUITE A4+ | Downgraded | Issuer not co-operating* |
| Bank Loan Ratings | 51.00 | ACUITE BB+ | Downgraded | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 300.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 0.00 | - | - |
| Rating Rationale |
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Acuité has downgraded the long-term rating to 'ACUITE BB+' (read as ACUITE double B plus) from 'ACUITE BBB+' (read as ACUITE triple B plus) and short term rating to 'ACUITE A4+' (read as ACUITE A four plus) from 'ACUITE A2+' (read as ACUITE A two plus) on the Rs.300 crore bank facilities of United Telelinks Bangalore Limited . This rating is now an indicative rating and is based on the best available information. The rating has been downgraded on account of information risk. |
| About the Company |
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United Telelinks Bangalore Limited (UTBL) is promoted by Mr. Sudhir Hasija who has an experience of over two decades in electronic industry and is engaged in manufacturing and trading of mobile phones. The company was established in1994 and based out of Bangalore.The company manufactures mobiles under its brand name ’Karbonn’ from itsmanufacturing facility located at Tirupati, Andhra Pradesh and has an installed capacity of 350,000 mobiles per month. The company is also engaged in distribution of mobile brands such as Vivo, Huawei, Realme, HP among others. |
| 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 |
| 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. |
| Rating Sensitivities |
| "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 |
| None |
| Key Financials |
| The issuer has not provided with the latest financial statement to comment upon |
| Status of non-cooperation with previous CRA |
| None |
| Any other information |
| 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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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm |
| Note on Complexity Levels of the Rated Instrument |
| https://www.acuite.in/view-rating-criteria-55.htm |
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