Rationale

 ICRA has kept the BLR and Non-Convertible Debenture ratings of IL&FS Solar Power Limited in the ‘Issuer Not Cooperating’ category. The ratings are denoted as “[ICRA]D; ISSUER NOT COOPERATING”. As part of its process and in accordance with its rating agreement with IL&FS Solar Power Limited, ICRA has been trying to seek information from the entity so as to monitor its performance Further, ICRA has been sending repeated reminders to the entity for payment of surveillance fee that became due. Despite multiple requests by ICRA, the entity’s management has remained non-cooperative. In the absence of requisite information and in line with the aforesaid policy of ICRA, the rating has been continued to the “Issuer Not Cooperating” category. The rating is based on the best available information.