|
|
| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 10.00 | ACUITE D | Reaffirmed | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 10.00 | - | - |
| Rating Rationale |
|
Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 10.00 crore bank facilities of Vasani Wood Works (VWW). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
|
| About the Company |
| Vasani Wood Works (VWW) is a Tamil Nadu based partnership firm established in the year 2011 forming part of Prabhat Group of Companies. The partners of the firm are Mr. Jithendra D. Patel and Mr. Dalsuk D. Patel. The firm is engaged in trading and processing of imported timbers. It also provides wood planning and sizing services to local firms situated in Trichy. |
| 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: |
|
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.
|
| About the Rated Entity - Key Financials |
|
The rated entity has not shared the latest financial statement for Acuite to comment.
|
| Rating Sensitivity |
|
No information provided by the issuer / available for Acuite to comment upon.
|
| All Covenants |
|
Not Applicable
|
| 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 |
|
Not Applicable
|
| 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 |
|
• Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm |
| Note on Complexity Levels of the Rated Instrument |
|
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.
|
|
| |
|
|
|||||||||||||||||||||||||||
|
|
Contacts |
|
|
|
About Acuité Ratings & Research |
