Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 5.67 ACUITE B- | Reaffirmed | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 5.67 - -
Total Withdrawn Quantum (Rs. Cr) 0.00 - -
 
Rating Rationale
­Acuité has reaffirmed the long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) on the Rs. 5.67 crore bank facilities of V K Sharma Cold Storage (VKSCS). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.

About the Company
­V K Sharma Cold Storage (VSCS) is a partnership firm established in 2016 by Mr. Sandeep Sharma, Mrs. Preeti Sharma, and Mrs. Usha Devi in Agra (Uttar Pradesh). The firm is engaged in providing Cold Storage services to farmers producing potatoes. The firm started its commercial operations only in June 2017. It has total storage capacity of 100 metric tonnes.
 
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.

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.
 
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."
 
Material 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
­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
• Service Sector: https://www.acuite.in/view-rating-criteria-50.htm
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm

Note on Complexity Levels of the Rated Instrument
https://www.acuite.in/view-rating-criteria-55.htm

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
14 Jun 2021 Term Loan Long Term 1.97 ACUITE B- ( Issuer not co-operating*)
Proposed Bank Facility Long Term 0.98 ACUITE B- ( Issuer not co-operating*)
Cash Credit Long Term 1.80 ACUITE B- ( Issuer not co-operating*)
Term Loan Long Term 0.92 ACUITE B- ( Issuer not co-operating*)
16 Mar 2020 Term Loan Long Term 1.97 ACUITE B- (Issuer not co-operating*)
Cash Credit Long Term 1.80 ACUITE B- (Issuer not co-operating*)
Term Loan Long Term 0.92 ACUITE B- (Issuer not co-operating*)
Proposed Bank Facility Long Term 0.98 ACUITE B- (Issuer not co-operating*)
07 Jan 2019 Cash Credit Long Term 1.80 ACUITE B- | Stable (Assigned)
Term Loan Long Term 1.97 ACUITE B- | Stable (Assigned)
Proposed Bank Facility Long Term 0.98 ACUITE B- | Stable (Assigned)
Term Loan Long Term 0.92 ACUITE B- | Stable (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating
Bank of Maharashtra Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 1.80 ACUITE B- | Reaffirmed | Issuer not co-operating*
Not Applicable Not Applicable Proposed Long Term Bank Facility Not Applicable Not Applicable Not Applicable 0.98 ACUITE B- | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not Applicable Term Loan Not available Not available Not available 1.97 ACUITE B- | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not Applicable Term Loan Not available Not available Not available 0.92 ACUITE B- | Reaffirmed | Issuer not co-operating*

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