India Ratings Maintains UP Mehrauni II Urja’s Term Loan in Non-Cooperating Category

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India Ratings and Research (Ind-Ra) has maintained UP Mehrauni II Urja Private Limited’s term loan in the non-cooperating category. The Outlook is Negative. The issuer did not participate in the surveillance exercise despite continuous requests and follow-ups by the agency. Therefore, investors and other users are advised to take appropriate caution while using the rating. The rating will continue to appear as ‘IND B-(ISSUER NOT COOPERATING)’ on the agency’s website. The detailed rating action is as follows:

Instrument TypeDate of IssuanceCoupon Rate (%)Maturity DateSize of Issue (million)Rating/OutlookRating Action
Term loan31 December 2035INR 1,790IND B-(ISSUER NOT COOPERATING)/NegativeMaintained in non-cooperating category

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on 27 August 2019. Ind-Ra is unable to provide an update, as the agency does not have adequate information to review the ratings.

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