ICRA Suspends Rating for Win Pet & Polymers Due to Lack of Information

Strategic Insights -

Win Pet & Polymers, a cash credit limits and term loan issuer, has had its ICRA B+ rating suspended following ICRA's inability to conduct a rating surveillance due to a lack of requisite information from the company. ICRA, a rating agency, typically conducts surveillance to monitor the issuer's ability to service debts and obligations.

Key Takeaways:

  • ICRA has suspended its B+ rating for Win Pet & Polymers' Rs. 2.50 crore cash credit limits and Rs. 4.01 crore term loan.
  • The suspension is due to ICRA's inability to carry out a rating surveillance in the absence of necessary information from the company.
  • ICRA issues ratings as a symbolic indicator of the issuer's relative capability to timely service debts and obligations.
  • The rating agency has not conducted an audit of the rated issuer or the information provided by it.
  • ICRA may have provided services other than rating to the issuer rated, but this information is not relevant to the current situation.
  • The suspension of the rating may affect the issuer's ability to service debts and obligations, but further information is required to determine the extent of the impact.

Statistics:

  • Rs. 2.50 crore: The amount of cash credit limits for Win Pet & Polymers.
  • Rs. 4.01 crore: The amount of term loan for Win Pet & Polymers.
  • April 2015: The month and year in which the rating suspension was announced.

Sources:

  • http://www.icra.in/ (ICRA Rating Agency Website)
  • ICRA Limited. (2015). Press Release: Suspension of Rating for Win Pet & Polymers.