December 19, 2014
Mumbai
Ravikumar Distilleries Limited
 
Rating Suspended
 
Total Bank Loan Facilities Rated Rs.1500 Million
Long Term Rating Suspended
(Refer to Annexure 1 for Facility-wise details)

CRISIL has suspended its ratings on the bank facilities of Ravikumar Distilleries Ltd (RKDL). The suspension of ratings is on account of non-cooperation by RKDL with CRISIL's efforts to undertake a review of the ratings outstanding. Despite repeated requests by CRISIL, RKDL is yet to provide adequate information to enable CRISIL to assess RKDL's ability to service its debt. The suspension reflects CRISIL's inability to maintain a valid rating in the absence of adequate information. CRISIL considers information availability risk as a key credit factor in its rating process and non-sharing of information as a first signal of possible credit distress, as outlined in its criteria 'Information Availability Risk in Credit Ratings'

About the Company

Incorporated in 1993 and promoted by Mr. R V Ravikumar, RKDL manufactures IMFL at its facility at Puducherry.

Annexure 1 - Details of various bank facilities
Current facilities Previous facilities
Facility Amount (Rs.Million) Rating Facility Amount (Rs.Million) Rating
Cash Credit 225 Suspended Cash Credit 225 CRISIL D
Proposed Long Term Bank Loan Facility 1275 Suspended Proposed Long Term Bank Loan Facility 1275 CRISIL D
Total 1500 -- Total 1500 --
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Last updated: August, 2014

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December 19, 2014

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