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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 50.00 | Not Applicable | Withdrawn | - |
| Total Outstanding Quantum (Rs. Cr) | 0.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 50.00 | - | - |
| Rating Rationale |
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Acuité has withdrawn the long-term rating on the Rs. 50.00 Cr. proposed Bank Loan facility of Vector Finance Private Limited. The withdrawal is on account of request received from client and in accordance with Acuite's policy on withdrawal of ratings.
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| About the company |
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Odisha based Vector Finance Private Limited (VFPL) was incorporated in November 2018. It is an RBI registered Non-Banking Finance Company – Micro-Financial Institution (NBFC-MFI). VFPL is promoted by Mr Rahul Johri and Mr Prasanta Kumar Sahu to extend micro credit to women borrowers in semi urban and rural areas for income generating activities through joint liability group (JLG) model. The operations of VFPL are spread across 74 districts of six states, namely Odisha, Assam, West Bengal, Madhya Pradesh, Chhattisgarh and Tripura through a network of 147 branches as on September 30,2022.
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| Standalone (Unsupported) Rating |
| Not Applicable |
| Analytical Approach |
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Not Applicable
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Key Rating Drivers
| Strength |
| Not Applicable |
| Weakness |
| Not Applicable |
| ESG Factors Relevant for Rating |
| Not Applicable |
| Rating Sensitivity |
| Not Applicable |
| All Covenants |
| None |
| Liquidity Position |
| Not Applicable |
| Outlook: |
| Not Applicable |
| Other Factors affecting Rating |
| None |
| Key Financials - Standalone / Originator | ||||||||||||||||||||||||||||||||||||||||
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| Status of non-cooperation with previous CRA (if applicable): |
| None |
| Any other information |
| Acuite is yet to receive the latest No Default Statement from the rated entity, despite repeated requests and followups. |
| 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 • Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.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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About Acuité Ratings & Research |
