Brickwork Ratings reaffirms the rating for the Bank Loan Facilities of Rs. 750.00 Crs of Brij Gopal Construction Co. Pvt. Ltd. based on best available information, as the issuer did not cooperate.
ParticularsFacilities** | Amount (Rs.Crs.) | Tenure | Rating# | ||
---|---|---|---|---|---|
Previous | Present | Previous (30 May 2020) |
Present | ||
Fund Based | 150.00 | 150.00 | Long Term |
BWR BBB+/Stable
Assignment |
BWR BBB +
/Stable Reaffirmation/ISSUER NOT COOPERATING* |
Non Fund Based | 600.00 | 600.00 | Long Term |
BWR BBB+/Stable
Assignment |
BWR BBB +
/Stable Reaffirmation/ISSUER NOT COOPERATING* |
Grand Total | 750.00 | 750.00 | (Rupees Seven Hundred Fifty Crores Only) |
Brickwork Ratings (BWR) has migrated the rating assigned to the bank loan facilities of Brij Gopal Construction Company Pvt Ltd to Issuer not Cooperating category.
The review of the rating became due on 30 May 2021. BWR has been following up with the issuer in order to get the required information to complete the rating review process through emails and phone calls, however, the information has not been forthcoming. As such, it is difficult for BWR to undertake a proper review of the rating, assess the company's current financial risk profile and its ability to maintain a valid rating.
LIMITATIONS OF THE RATING
Information availability risk is a key risk factor in the assessment of credit risk as generally, non-cooperation by the rated entities to provide required information for a review of the assigned rating may also be accompanied by financial stress
ABOUT THE ENTITYBrij Gopal Construction Company Pvt Ltd (BGCCPL) was originally started as a partnership firm by Mr. Ram Gopal Goyal and his sons Mr. Vikram Goyal, Mr. Rajan Goyal and Mr. Raman Goyal in 1999. The partnership firm was then converted into a private limited company in 2009, and all the business of the firm was then transferred to BGCCPL. BGCCPL is essentially an EPC contractor with operations in roads/highways, sewerage, storm water, drain water supply and works management, including ancillary works and housing projects. The company has, however, now ventured into HAM road projects as well.
Please refer to the following link for the previous detailed rationale that captures the Key Financials Drivers and their Description, Liquidity Position. Rating Sensitivities, Key Financial Indicators.
Facilities | Current Rating (2021) | 2021 (History) | 2020 | 2019 | 2018 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Type | Tenure | Amount (Rs.Crs.) |
Rating | Date | Rating | Date | Rating | Date | Rating | Date | Rating |
Fund Based | LT | 150.00 |
BWR BBB+/Stable
(Reaffirmation/ISSUER NOT COOPERATING*) |
NA |
NA
|
30May2020 |
BWR BBB+Stable
(Assignment) |
NA |
NA
|
NA |
NA
|
Non Fund Based | LT | 600.00 |
BWR BBB+/Stable
(Reaffirmation/ISSUER NOT COOPERATING*) |
NA |
NA
|
30May2020 |
BWR BBB+Stable
(Assignment) |
NA |
NA
|
NA |
NA
|
Grand Total | 750.00 | (Rupees Seven Hundred Fifty Crores Only) |
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 CriteriaAnalytical Contacts | |
---|---|
Aakriti Sharma Manager - Ratings Board : +91 11 2341 2232 aakriti.s@brickworkratings.com |
Vipula Sharma Director - Ratings Board : +91 80 4040 9940 vipula.s@brickworkratings.com |
1-860-425-2742 | media@brickworkratings.com |
SL.No. | Name of the Bank/Lender | Type Of Facilities | Long Term(Rs.Crs.) | Short Term(Rs.Crs.) | Total(Rs.Crs.) |
---|---|---|---|---|---|
1 | Others | Cash CreditProposed | 90.00 | _ | 90.00 |
2 | Others | Bank GuaranteeProposed | 280.00 | _ | 280.00 |
3 | Punjab National Bank | Cash CreditSanctioned | 20.00 | _ | 20.00 |
4 | Punjab National Bank | Bank GuaranteeSanctioned | 60.00 | _ | 60.00 |
5 | Union Bank of India | Cash CreditSanctioned | 40.00 | _ | 40.00 |
6 | Union Bank of India | Bank GuaranteeSanctioned | 260.00 | _ | 260.00 |
Total | 750.00 | 0.00 | 750.00 | ||
TOTAL (Rupees Seven Hundred Fifty Crores Only) |
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About Brickwork RatingsBrickwork Ratings (BWR), a Securities and Exchange Board of India [SEBI] registered Credit Rating Agency and accredited by Reserve Bank of India [RBI], offers credit ratings of Bank Loan, Non- convertible / convertible / partially convertible debentures and other capital market instruments and bonds, Commercial Paper, perpetual bonds, asset-backed and mortgage-backed securities, partial guarantees and other structured / credit enhanced debt instruments, Security Receipts, Securitization Products, Municipal Bonds, etc. BWR has rated over 11,400 medium and large corporates and financial institutions’ instruments. BWR has also rated NGOs, Educational Institutions, Hospitals, Real Estate Developers, Urban Local Bodies and Municipal Corporations. BWR has Canara Bank, a leading public sector bank, as one of the promoters and strategic partner. BWR has its corporate office in Bengaluru and a country-wide presence with its offices in Ahmedabad, Chandigarh, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi along with representatives in 150+ locations.
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