RATING RATIONALE
26Apr2022

Assembly of God Church School

Brickwork Ratings withdraws the ratings for the Bank Loan Facilities of Assembly of God Church School

Particulars
Facilities** Amount (Rs.Crs.) Tenure Rating#
Previous Present Previous
(28 Feb 2022)
Present
Fund Based 7.83 7.83 Long Term BWR B /Stable
Downgrade/ISSUER NOT COOPERATING*
Withdrawal
Grand Total 7.83 7.83 (Rupees Seven Crores and Eighty Three lakhs Only)
#Please refer to BWR website www.brickworkratings.com for definition of the ratings
**Details of Bank Loan facilities,consolidation or instruments are provided in Annexure

RATING ACTION / OUTLOOK

At the request of the client "Assembly of God Church School". vide their letter dated 23 November 2021, and based on the No Due Certificate dated 05 March 2018 from Bank of Baroda and the confirmation mail by the lender dated 13 April 2022 confirming that currently the client has no bank facilities with the lender Bank of Baroda, Asansol Branch, West Bengal, Brickwork Ratings has withdrawn the rating of their Bank Loan Facilities of Rs. 7.83 crores. The relevant documents are held on record.

The withdrawal is in accordance with the Rating Withdrawal Policy of BWR.

ABOUT THE ENTITY

The Assembly of God Church School, Asansol was established in 1963 by Rev. Willis. G. Long. The School is under Assemblies of God of North India – a society who also established two other schools in the name of Assembly of God Church, Sodepur and Ukhra. At present, the school has a strength of around 2000 students comprising only girls and classes upto 10th standard under ICSE Board. Due to demand for admission in higher classes, the management has decided to construct a new school building on a plot of land at Kalyanpur Housing, covering an area of 2.18 acres. This plot of land has been purchased from Asansol Durgapur Development Authority on 99 years lease. As per the discussion with the management, the project has not been completed yet. As against the COD of April 2017, it is expected to be completed by the month of December. AGCS also have received +2 affiliations from ISC Council, Delhi.

RATING HISTORY FOR THE PREVIOUS THREE YEARS (including withdrawal and suspended)
Facilities Current Rating  (2022) 2022 (History) 2021 2020 2019
Type Tenure Amount
(Rs.Crs.)
Rating Date Rating Date Rating Date Rating Date Rating
Fund Based LT 7.83
Withdrawal
28Feb2022
BWR B Stable
(Downgrade/ISSUER NOT COOPERATING*)
NA
NA
28Oct2020
BWR B+Stable
(Downgraded Issuer Not Cooperating )
09Aug2019
BWR BB-Stable
(Reaffirmed Issuer Not Cooperating )
Grand Total 7.83 (Rupees Seven Crores and Eighty Three lakhs Only)
COMPLEXITY LEVELS OF THE INSTRUMENTS - NA

BWR complexity levels are meant for educating investors. The BWR complexity levels are available at www.brickworkratings.com / download / ComplexityLevels.pdf. Investors queries can be sent to info@brickworkratings.com.

Hyperlink/Reference to applicable Criteria
Analytical Contacts

Debarati Bhanja

Ratings Analyst debarati.b@brickworkratings.com

Anuradha Gupta

Director - Ratings anuradha.g@brickworkratings.com
1-860-425-2742 | media@brickworkratings.com
Assembly of God Church School
ANNEXURE-I
Details of Bank Facilities rated by BWR
SL.No. Name of the Bank/Lender Type Of Facilities Long Term(Rs.Crs.) Short Term(Rs.Crs.) Total(Rs.Crs.)
1 Bank of Baroda Term LoanOut-standing 7.83 _ 7.83
Total 7.83 0.00 7.83
TOTAL (Rupees Seven Crores and Eighty Three lakhs Only)
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