October 14, 2016 / 10:21 AM / 10 months ago

ICRA ratings for Indian debt instruments-Oct 14

Oct 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 13, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Allevard Iai Suspensions Pvt            ST, non- fund based   A4     1.9     Reaffirmed
Ltd
Archies Ltd                             CP                    A2     150     Revised from
                                                                                   A1
Avi Oil India Pvt Ltd                   ST FBL                A1     20      Reaffirmed
Avi Oil India Pvt Ltd                   ST Non-FBL            A1     200     Reaffirmed
Bharat Seats Ltd                        ST-Non Fund Based     A2     216     Reaffirmed
Iifl Wealth Finance Ltd                 IPO Financing         A1+    35000   Assigned
                                        Programme
Iifl Wealth Finance Ltd                 IPO Financing         A1+    35000   Withdrawn
                                        Programme
Jayshree Builders                       ST - Standby LOC      A4     38      Upgraded
                                                                                   from D
Kulkarni & Sahu Buildcon Pvt            Non FBL - BG          A4     90      outstanding
Ltd
Lubi Industries Llp                     EPC/PCFC/FBP/FBD/EBR* A1             Reaffirmed
*Sublimit of cash credit facility
Lubi Industries Llp                     BG*                   A1             Reaffirmed
*Sublimit of cash credit facility
Lubi Industries Llp                     LOC/Buyers Credit*    A1             Reaffirmed
*Sublimit of cash credit facility
Lubi Industries Llp                     LER*                  A1             Reaffirmed
*Sublimit of cash credit facility
Lubi Industries Llp                     EPC/PCFC/FBP/FBD/EBR* A1             Reaffirmed
* Sublimit of cash credit facility
Lubi Industries Llp                     BG*                   A1             Reaffirmed
* Sublimit of cash credit facility
Lubi Industries Llp                     LOC/Buyers Credit*    A1             Reaffirmed
* Sublimit of cash credit facility
Lubi Industries Llp                     LER*                  A1             Reaffirmed
* Sublimit of cash credit facility
Master Capital Services Ltd             ST non-fund based Bk  A2     1000    Reaffirmed
                                        lines



LONG TERM RATINGS:
-------------------
Allevard Iai Suspensions Pvt            LT, FBL -TL           B+     72.5    Reaffirmed
Ltd
Allevard Iai Suspensions Pvt            LT, FBL -CC           B+     25      Reaffirmed
Ltd
Allevard Iai Suspensions Pvt            LT/ST Unallocated     B+/A4  65.6    Reaffirmed
Ltd
Archies Ltd                             FBL                   BBB+   300     Revised from
                                                                                   A
Archies Ltd                             NFBL                  BBB+   30      Revised from
                                                                                   A
Avi Oil India Pvt Ltd                   LT FBL                A      70      Reaffirmed
Avi Oil India Pvt Ltd                   LT/ST                 A      60      Assigned
                                        Limits-Unallocated    / A1
Bharat Seats Ltd                        LT-fund based CC      BBB    352     Reaffirmed
Bharat Seats Ltd                        LT-fund based TL      BBB    422     Reaffirmed
Bharat Seats Ltd                        LT/ST- Unallocated    BBB /  126.2   Reaffirmed
                                                              A2
Econ Metallic (India) Pvt. Ltd.         Bk lines              BB /  65      Suspended
                                                              A4+
Eulogia Inn Llp                         LT-Unallocated limits B      150     Suspended
Healthcare Global Enterprises           TL Fac                BBB+   3230    Revised from
Ltd                                                                                BBB+
Healthcare Global Enterprises           LT FB Fac             BBB+   550     Revised from
Ltd                                                                                BBB+
Healthcare Global Enterprises           LT non-FB Fac         BBB+   120     Revised from
Ltd                                                                                BBB+
Healthcare Global Enterprises           LT Interchangeable    BBB+           Revised from
Ltd                                                                                BBB+
Healthcare Global Enterprises           Proposed limits       BBB+   1334.1  Revised from
Ltd                                                                                BBB+
Jayshree Builders                       LT - TL               B-     300     Upgraded
                                                                                   from D
Jayshree Builders                       LT & ST - Unallocated B- /   412     Upgraded
                                        limits                A4;            from D
                                                                                   / D
Kulkarni & Sahu Buildcon Pvt            FBL - CC              BB-    40      outstanding
Ltd                                                                                /assigned
La Gajjar Machineries Pvt Ltd           Bk Fac                BBB   579.4   Suspended
                                                              / A3+
Lubi Industries Llp                     CC                    A      650     Reaffirmed
Lubi Industries Llp                     Working Capital       A              Reaffirmed
                                        Demand Loan*
*Sublimit of cash credit facility
Lubi Industries Llp                     CC                    A      650     Reaffirmed
Lubi Industries Llp                     Working Capital       A              Reaffirmed
                                        Demand Loan*
* Sublimit of cash credit facility
Manglam Vardhman Developers Llp         Bk Fac                BB    250     Withdrawn
Milton Cycle Industries Ltd             FB Fac                BB+    100     Upgraded
                                                                                   from BB
Patel Inn & Travels Pvt Ltd             LT fund based-TL      BB     174.8   Reaffirmed
Patel Inn & Travels Pvt Ltd             LT fund based-CC      BB     100     Reaffirmed
R E Infra Pvt Ltd                       Bk limits             BBB-   1000    Suspended
                                                              / A3
Realwax Industries                      TL                    BB+    144.1   Withdrawn
Sushma Buildtech Ltd                    Bk lines              BB+   1500    Suspended
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

ICRA may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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