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March 30, 2012 |
Mumbai |
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C C A P Limited |
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Ratings Suspended |
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Total Bank Loan Facilities Rated
| Rs.169.2 Million
| Long-Term Rating
| Suspended
| Short-Term Rating
| Suspended
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(Refer to Annexure 1 for details on facilities) |
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CRISIL has suspended its ratings on the bank facilities of C C A P Limited (CCAP). The suspension of rating is on account of non-cooperation by CCAP with CRISIL’s efforts to undertake a review of the rating outstanding. Despite repeated requests by CRISIL, CCAP is yet to provide information substantiating its ability to service debt. The suspension reflects CRISIL’s inability to maintain a valid rating in the absence of this information. |
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About the Company |
CCAP is a construction company, involved in civil, mechanical, and electrical engineering. It was set up in 1972 by Mr. Chitratan Mukherji. The company has carried out projects for constructing roads, bridges, production facilities and other civil works, for government and private entities. It was sold to Ramayana Promoters Pvt Ltd (Ramayana) in 2009. Ramayana is an investment company and is a sister concern of Shelter Projects Ltd (part of the Shelter group). The Shelter group is a real estate developer. It is also involved in the development of housing projects in partnership with the West Bengal Housing Board. |
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Annexure 1 - Details of various bank facilities |
Current facilities
| Previous facilities
| Facility
| Amount (Rs. Million)
| Rating
| Facility
| Amount (Rs. Million)
| Rating
| Rupee Term Loan
| 67.9
| Suspended
| Rupee Term Loan
| 67.9
| CRISIL D
| Bank Guarantee
| 70
| Suspended
| Bank Guarantee
| 70
| CRISIL D
| Cash Credit
| 31.3
| Suspended
| Cash Credit
| 31.3
| CRISIL D
| Total
| 169.2
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| Total
| 169.2
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Media Contacts
| Analytical Contacts
| CRISIL Rating Desk
| Mitu Samar Head, Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1838 E-mail: msamar@crisil.com
Tanuja Abhinandan Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1818 Email: tabhinandan@crisil.com
| Nagarajan Narasimhan Director - CRISIL Ratings Tel: +91-22-3342 3536 Email: nnarasimhan@crisil.com
Ashutosh Satsangi Head - CRISIL Ratings Tel: +91-22-3342 3096 Email: asatsangi@crisil.com
| Tel: +91-22-3342 3047/3342 3064 Email:CRISILratingdesk@crisil.com
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