ICRA Suspends Rating for Acme Solar Technologies (Gujarat) Private Limited

Acme Solar Technologies (Gujarat) Private Limited, a prominent player in the solar energy sector, has faced a significant rating downgrade. ICRA, a leading credit rating agency, has suspended the BB- rating assigned to the company's Rs. 149.0 crores term loans. This decision follows ICRA's inability to conduct a rating surveillance due to a lack of information from the company. The suspension is in line with ICRA's policy of suspending ratings when there is insufficient information to assess the rating during a surveillance exercise.

Key Takeaways:

• ICRA has suspended the BB- rating assigned to Acme Solar Technologies (Gujarat) Private Limited's Rs. 149.0 crores term loans.
• The suspension is due to ICRA's inability to carry out a rating surveillance in the absence of requisite information from the company.
• Acme Solar Technologies (Gujarat) Private Limited is a prominent player in the solar energy sector in Gujarat.
• The suspension follows ICRA's policy of suspending ratings when there is insufficient information to assess the rating during a surveillance exercise.
• The affected rating is for the company's term loans, which are integral to the company's financing structure.
• The suspension may impact investors and stakeholders who rely on ICRA's ratings for investment decisions.
• ICRA's suspension policy aims to maintain the integrity and objectivity of credit ratings.

Statistics:

• Rs. 149.0 crores: The amount of term loans affected by the rating suspension.
• ICRA: The credit rating agency that suspended the rating.
• 2013: The year in which the suspension took place (as mentioned in the source).
• 124 4545304 and 124 4545310: The contact numbers for Analyst Contacts Mr. Sabyasachi Majumdar and Relationship Contacts Mr. Vivek Mathur respectively.

Sources:

• ICRA Limited, "ICRA Suspends Rating for Acme Solar Technologies (Gujarat) Private Limited", December 2013.
• ICRA Limited, "Terms and Conditions of Data Processing".