India Ratings and Research (Ind-Ra) has maintained UP Sarila Urja Private Limited’s project term loan rating in the non-cooperating category. 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)’/ Negative on the agency’s website. The detailed rating action is as follows:
| Instrument Type | Date of Issuance | Coupon Rate (%) | Maturity Date | Size of Issue (million) | Rating/Outlook | Rating Action |
| Project term loan | – | – | 31 December 2035 | INR2,000 | IND B-(ISSUER NOT COOPERATING)/Negative | Maintained 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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