I was going through all the credit ratings accorded to Alphageo.
Came across this ICRA report dated 06-04-2017
One important para states this :
"****The rating action is based on the best available information. As part of its process and in accordance with its rating agreement with Alphageo, ICRA has been trying to seek information from the company so as to undertake a surveillance of the ratings, and had sent reminders to the company for the same and for the payment of surveillance fee that became overdue; however despite multiple requests; the company’s management has remained non-cooperative. ICRA’s Rating Committee has taken a rating view based on best available information. In line with SEBI’s Circular No. SEBI/HO/MIRSD4/CIR/2016/119, dated November 01, 2016, the company’s rating is now denoted as: “[ICRA] BB+ (Stable)/ [ICRA]A4+ISSUER NOT COOPERATING**”. **
The lenders, investors and other market participants may exercise appropriate caution while using this rating, given that it is based on limited or no updated information on the company’s performance since the time it was last rated."
Not a good read this.
Disc : Tracking.