on May 11, 2021)Chennai: has announced a rating of — ‘B+/Stable Issuer not cooperating’ — on the long-term bank facilities of Kamal Haasan (KH), a proprietary firm of the eponymous actor-turned-politician.
The rating agency, which rated him for a loan taken earlier at ‘B+ or stable’ in January 2020, said Monday’s move was due to inadequate information and lack of management cooperation from the company. This non-cooperation has restricted Crisil’s ability to take a forward-looking view on the entity’s credit quality.
KH is a proprietorship firm with interests in directing, acting, and producing mainly involved in the Tamil film industry. The total worth of bank loan facilities rated of KH stands at Rs 25 crore, according to the report.
Haasan had declared assets worth Rs 177 crore in his name (in his poll affidavit), which includes movable assets worth Rs 45 crore and immovable assets worth Rs 132 crore. “Such non-cooperation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with ‘issuer not cooperating’ suffix lack a forward-looking component,” it added.
Executives at KH declined to comment on the matter.
