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.