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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 50.00 | ACUITE C | Reaffirmed | Issuer not co-operating* | - |
| Fixed Deposits (FD) | 100.00 | ACUITE C | Reaffirmed | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 150.00 | - | - |
| Rating Rationale |
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Acuité has reaffirmed its long-term rating on the Rs. 50.00 crore proposed bank facilities of Universal Multi State Credit Co-operative Society Limited (UMSCCL) of ‘ACUITE C (read as ACUITE C)’. The long-term fixed deposit rating on the Rs. 100.00 crore fixed deposit program has been reaffirmed of ‘ACUITE C (read as ACUITE C)’. This rating remains an indicative rating and is based on best available information. |
| About the Company |
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Universal Multi State Credit Cooperative Society (UMSCCSL), incorporated in 2013. It is managed by MR. Hota, is a Kolkata-based credit cooperative society engaged in the business of extending loans and advances to its members in Uttar Pradesh, West Bengal and Andaman & Nicobar Island. |
| 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. |
| Limitation regarding information availability: |
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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 |
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The rated entity has not shared the latest financial statements despite repeated requests. |
| Rating Sensitivity |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Material Covenants |
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Not Applicable |
| Liquidity Position |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Outlook |
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Not Applicable |
| Other Factors affecting Rating |
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Not Applicable |
| Status of non-cooperation with previous CRA |
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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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• Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm |
| Note on Complexity Levels of the Rated Instrument |
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In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in. |
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