By Trishita Das

India Ratings and Research (Ind-Ra) has migrated B D Motors Ltd’s (BDML) Long-Term Issuer Rating to the non-cooperating category. The issuer did not participate in the rating exercise despite continuous requests and follow-ups by the agency. Therefore, investors and other users are advised to take appropriate caution while using these ratings. The rating will now appear as ‘IND D(ISSUER NOT COOPERATING)’ on the agency’s website. The instrument-wise rating actions are as follows:

Instrument Type

Date of Issuance

Coupon Rate

Maturity Date

Size of Issue (million)

Rating

Rating Action

Long-term loan (Long-term)

-

-

March 2018

INR12.0

IND D(ISSUER NOT COOPERATING)

Migrated to non-cooperating category

Fund-based facilities  (Long-term)

-

-

-

INR340.0

IND D(ISSUER NOT COOPERATING)

Migrated to non-cooperating category

Non-fund-based facilities (Short-term)

-

-

-

INR1

IND D(ISSUER NOT COOPERATING)

Migrated to non-cooperating category

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on 4 September 2018. Ind-Ra is unable to provide an update, as the agency does not have adequate information to review the ratings.

COMPANY PROFILE

BDML has an automobile dealership business. It sells Tata Motors Ltd’s passenger vehicles and owns showrooms and workshops across Burdwan, Durgapur and Asansol. 


RATING HISTORY

Instrument Type

Current Rating

 

Historical Rating/Outlook

Rating Type

Rated Limits (million)

Rating

4 September 2018

4 December 2017

26 October 2017

25 October 2016

Issuer rating

Long-term

-

IND D(ISSUER NOT COOPERATING)

IND D

IND BB-/Stable

IND BB-(ISSUER NOT COOPERATING)

IND BB-/Stable

Long-term loan

Long-term

INR12

IND D(ISSUER NOT COOPERATING)

IND D

IND BB-/Stable

IND BB-(ISSUER NOT COOPERATING)

IND BB-/Stable

Fund-based limits

Long-term

INR340

IND D(ISSUER NOT COOPERATING)

IND D

IND BB-/Stable

IND BB-(ISSUER NOT COOPERATING)

IND BB-/Stable

Non-fund-based limits

Short-term

INR1

IND D(ISSUER NOT COOPERATING)

IND D

IND A4+

IND A4+(ISSUER NOT COOPERATING)

IND A4+


COMPLEXITY LEVEL OF INSTRUMENTS

For details on the complexity level of the instruments, please visit https://www.indiaratings.co.in/complexity-indicators.

ABOUT INDIA RATINGS AND RESEARCH

About India Ratings and Research: India Ratings and Research (Ind-Ra) is India's most respected credit rating agency committed to providing India's credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India's fixed income market. 

Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies and project finance companies. 

Headquartered in Mumbai, Ind-Ra has seven branch offices located in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Pune. Ind-Ra is recognised by the Securities and Exchange Board of India, the Reserve Bank of India and National Housing Bank. 

India Ratings is a 100% owned subsidiary of the Fitch Group.

For more information, visit www.indiaratings.co.in.

DISCLAIMER

ALL CREDIT RATINGS ASSIGNED BY INDIA RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.INDIARATINGS.CO.IN/RATING-DEFINITIONS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.INDIARATINGS.CO.IN. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. INDIA RATINGS’ CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE.

Applicable Criteria

Analyst Names

  • Primary Analyst

    Trishita Das

    Senior Research Associate
    India Ratings and Research Pvt Ltd Room no - 1201, 12th Floor, OM Towers, 32 Chowringhee Road, Kolkata-700071, India

    Media Relation

    Namita Sharma

    Manager – Corporate Communication
    +91 22 40356121