RATING RATIONALE 23 June 2020
3B INFRASTRUCTURE PVT. LTD
Brickwork Ratings revises the ratings for the Bank Loan Facilities of ₹17.07 Crores of 3B
Infrastructure Pvt. Ltd. based on best available information, as the issuer did not
cooperate.
Particulars :
Amount (₹ Cr) Rating#
Facility Tenure Previous
Previous Present Present
(June, 2017)
BWR B+
Stable
Fund based Long Term BWR BB (Downgrade)
17.07 17.07
Stable ISSUER NOT
COOPERATING*
Total 17.07 17.07 INR Seventeen Crores and Seven Lakhs Only
# Please refer to BWR website www.brickworkratings.com/ for definition of the ratings
* Issuer did not cooperate, based on best available information.
Details of Bank facilities is provided in Annexure-I
RATING ACTION / OUTLOOK / NATURE OF NON-COOPERATION
Downgraded the rating to BWR B+/Stable (Issuer not Cooperating) based on best available
information as the Issuer did not cooperate.
The initial rating was done on 28th June 2017 with the rating assigned as BWR BB/Stable. Then
the rating became due for review in June, 2018. BWR took up with the issuer to provide required
information over emails. Despite the best efforts of BWR to get the minimum required
information for a review, the entity has not provided the same. The banker was also
unresponsive. In the absence of adequate information from the firm, BWR is unable to assess the
firm’s financial performance and its ability to service its debt and maintain a valid rating.
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LIMITATIONS OF THE RATING
Information availability risk is a key 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.
KEY FINANCIAL INDICATORS (in (₹ Cr) [AS AVAILABLE WITH BWR]
Key Parameters Units FY16 FY17
Result Type Audited Audited
Total Operating Income Crores 23.77 23.95
PAT Crores 0.07 0.10
Tangible Networth Crores 2.56 2.97
Total Debt/TNW Times 3.69 3.06
Current Ratio Times 1.29 1.20
COMPANY PROFILE (as available with BWR)
3B Infrastructure Private Limited is a private limited company incorporated on February 01,
2000 and is registered at Registrar of Companies. It owns the hotel Four Points by Sheraton. I t is
a four-star property situated at 152/4 Jakhan, Rajpur Road Dehradun, Uttrakhand which is
independently owned by M/s 3b Infrastructure Private Limited and operated by M/s Nidra
Hospitality Private Limited under license issued by M/s Starwood Asia Pacific Hotels & Resorts
Pvt.
NON-COOPERATION WITH PREVIOUS RATING AGENCY IF ANY: IND BB-/A4+ as
on 16th May 2018
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RATING HISTORY FOR THE LAST THREE YEARS (INCLUDING WITHDRAWAL
AND SUSPENDED)
Instrumen
t/ Current Rating Rating History
Facilities
Tenure
(Long Amount
Rating 2019 2018 2017
Term/ (₹ Cr)
Short Term)
BWR B+
Stable BWR BB
Fund
Long Term 17.07 (Downgrade) -- -- Stable
Based
Issuer Not (Assigned)
Cooperating
Total 17.07 INR Seventeen Crores and Seven Lakhs Only
COMPLEXITY LEVELS OF THE INSTRUMENTS
For more information, visit www.brickworkratings.com/download/ComplexityLevels.pdf
Hyperlink/Reference to applicable Criteria
General Criteria
Approach to Financial Ratios
What constitutes Non-Cooperation
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Analytical Contacts Investor and Media Relations
Arushi Jain
Rating Analyst Liena Thakur
Board: +91 11 2341 2232 Ext: 111 Assistant Vice President - Corporate
[email protected]
Communications
V. K. Kukreja +91 84339 94686
Associate Director – Ratings
[email protected]
Board:+91 11 2341 2232
[email protected]
ANNEXURE I
3B Infrastructure Pvt. Ltd.
Details of Bank Facilities rated by BWR
Sl.No. Name of the Bank Type of Long Term Short Total
Facilities [₹ Cr] Term [₹ Cr]
[₹ Cr]
1. Punjab National Fund Based 17.07 - 17.07
Bank
TOTAL 17.07
Total Rupees Seventeen Crores & Seven Lakhs only.
For print and digital media :The Rating Rationale is sent to you for the sole purpose of dissemination through your print,
digital or electronic media. While it may be used by you acknowledging credit to BWR, please do not change the wordings
in the rationale to avoid conveying a meaning different from what was intended by BWR. BWR alone has the sole right of
sharing (both direct and indirect) its rationales for consideration or otherwise through any print or electronic or digital
media.
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About Brickwork Ratings :Brickwork Ratings (BWR), a SEBI registered Credit Rating Agency, accredited by RBI and
empaneled by NSIC, offers Bank Loan, NCD, Commercial Paper, MSME ratings and grading services. NABARD has
empaneled Brickwork for MFI and NGO grading. BWR is accredited by IREDA & the Ministry of New and Renewable
Energy (MNRE), Government of India. Brickwork Ratings has Canara Bank, a leading public sector bank, as its
promoter 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.
DISCLAIMER Brickwork Ratings (BWR) has assigned the rating based on the information obtained from the issuer and
other reliable sources, which are deemed to be accurate. BWR has taken considerable steps to avoid any data distortion;
however, it does not examine the precision or completeness of the information obtained. And hence, the information in
this report is presented “as is” without any express or implied warranty of any kind. BWR does not make any
representation in respect to the truth or accuracy of any such information. The rating assigned by BWR should be treated
as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any
losses incurred by users from any use of this report or its contents. BWR has the right to change, suspend or withdraw the
ratings at any time for any reasons.
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