BUZZ-Castrol India falls; co warns of volatility in first half of 2017
** Shares of Castrol India fall as much as 2.7 pct to 421.5 rupees
Dec 14 Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of December 13, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Bharat Supply Company LOC facility ICRA A4 40 Assigned Chennai Radha Engineering ST non fund based ICRA A2+ 900 Assigned Works Pvt Ltd Chennai Radha Engineering ST non fund based ICRA A2+ Assigned Works Pvt Ltd (sub limits) Iifl Facilities Services Ltd IPO Financing ICRA A1+ 12000 Assigned Programme Iifl Wealth Finance Ltd IPO Financing ICRA A1+ 35000 Withdrawn Programme India Infoline Finance Ltd IPO Financing ICRA A1+ 70000 Assigned Programme India Infoline Ltd IPO Financing ICRA A1+ 5000 Assigned Programme Kish Exports Ltd Non- FBL ICRA A4 10 Reaffirmed Mosaic India Pvt Ltd ST, FB and Non-FB Fac ICRA A1+ 6900 Reaffirmed (Incl. Unallocated Limits of Rs. 115 crore) Mahindra Heavy Engines Ltd ST, non-FBL ICRA AA 10 Reaffirmed Mosaic India Pvt Ltd CP ICRA A1+ 1000 Reaffirmed Orson Holdings Co. Ltd Non Fund Based - LOC ICRA A3 90 Upgraded from ICRA A4+ Orson Holdings Co. Ltd Non Fund Based - ICRA A3 4.9 Upgraded Forward contract from ICRA A4+ Power Finance Corporation Ltd ST borrowing ICRA A1+ 300000* Assigned programme FY2017 *Short- term borrowings are interchangeable with long-term borrowings, subject to the total borrowings in FY2017 not exceeding Rs. 70,000 crore Reliance Financial Ltd CP Programme ICRA A1+ 1000 Assigned Shree Hari Yarns Pvt Ltd ST, Non-Fund Based ICRA A4+ Reaffirmed Shree Hari Yarns Pvt Ltd ST, Fund Based ICRA BB 70 Reaffirmed Sudiva Spinners Pvt Ltd ST non-fund based ICRA A3+ 66 Upgraded working capital from A3 LONG TERM RATINGS: ------------------- Al-Saqib Exports Pvt. Ltd Bk lines ICRA BB- 100 Suspended Axis Overseas Ltd fund based and non-FBLICRA B+ / 250 Suspended ICRA A4 Banke Bihari Associates Bk lines ICRA B+ 92.3 Suspended Basix Sub-K Itransactions Ltd Cash Credi ICRA BB-@ 60 Rating placed on watch with negative implications @ signifies under rating watch with negative implications Basix Sub-K Itransactions Ltd TL ICRA BB-@ 20 Rating placed on watch with negative implications @ signifies under rating watch with negative implications Bharat Supply Company CC facility ICRA B+ 43 Suspended Bharat Supply Company unallocated limits ICRA B+ / 17 Suspended ICRA A4 Chennai Radha Engineering LT fund based ICRA A- 400 Assigned Works Pvt Ltd Chennai Radha Engineering LT/ST non fund based ICRA A- / 200 Assigned Works Pvt Ltd ICRA A2+ Chennai Radha Engineering LT/ST fund based/non ICRA A- / Assigned Works Pvt Ltd fund based (sub ICRA A2+ limits) Chirag Infraprojects Pvt Ltd Bk Fac ICRA B / 300 Suspended ICRA A4 Citicorp Finance (India) Ltd LT PP-MLD Programme PP-MLD 5000 Assigned ICRA AAA Dc Wovensack Pvt Ltd FB Limits : TL ICRA B 66 Reaffirmed Dc Wovensack Pvt Ltd FB Limits : CC ICRA B 32.5 Reaffirmed Gayathri Sustainable Energies LT FB limits (TL) ICRA C 123.5 Reaffirmed India Pvt Ltd Gayathri Sustainable Energies LT Unallocated ICRA C 105.2 Reaffirmed India Pvt Ltd Jbm Ma Automotive Pvt Ltd TL ICRA BBB 241.7 Upgraded from ICRA BBB- Jbm Ma Automotive Pvt Ltd CC Fac ICRA BBB 675 Upgraded /ICRA A3+ from ICRA BBB- /ICRA A3 Jbm Ma Automotive Pvt Ltd Unallocated Limits ICRA BBB 8.3 Upgraded /ICRA A3+ from z ICRA BBB- /ICRA A3 Jbm Ma Automotive Pvt Ltd Non FB Fac ICRA BBB 215 Upgraded /ICRA A3+ from ICRA BBB- /ICRA A3 Kish Exports Ltd FBL ICRA B 100 Reaffirmed M S Ahuja Agro Foods (P) Ltd Bk Fac ICRA B 85 Suspended Madhusudan Garai CC ICRA B 30 Suspended Madhusudan Garai BG Fac ICRA B 35 Suspended Mahindra Heavy Engines Ltd Long-TL ICRA AA 3350 Reaffirmed Mahindra Heavy Engines Ltd LT, FB limits ICRA AA 500 Reaffirmed Mahindra Heavy Engines Ltd LT, FB/non-FBL ICRA AA 750 Reaffirmed Mahindra Heavy Engines Ltd LT/ ST, non-FBL ICRA AA 1000 Reaffirmed Mahindra Heavy Engines Ltd LT/ ST, proposed ICRA AA / 1060 Reaffirmed ICRA A1+ Mehta Art Press Pvt. Ltd. Bk Fac ICRA B+ 90 Suspended Mewar Hi-Tech Pvt Pvt. Ltd. Bk Fac ICRA B 80 Suspended New Opportunity Consultancy NCD ICRA BB-@ 80 Rating Pvt Ltd placed on watch with negative implications Nomax Electrical Steel Pvt Ltd FBL - CC ICRA C 173.3 Reaffirmed Nomax Electrical Steel Pvt Ltd FBL - Untied limits ICRA C 4.6 Assigned Orson Holdings Co. Ltd Fund Based - CC ICRA BBB- 130 Upgraded from ICRA BB+ Orson Holdings Co. Ltd Fund Based - TL ICRA BBB- 22.9 Upgraded from ICRA BB+ Orson Holdings Co. Ltd Unallocated Limits ICRA BBB- 22.2 Upgraded / ICRA A3 Paramount Wheels Pvt Ltd LT Fund Based FacilityICRA B+ 182.5 Upgraded from ICRA B Paramount Wheels Pvt Ltd Unallocated Amount ICRA B+ 72.5 Assigned Power Finance Corporation Ltd LT borrowing ICRA AAA 400000* Outstanding programme FY2017** ** Includes Rs. 5000 crore GoI fully serviced bonds *Short- term borrowings are interchangeable with long-term borrowings, subject to the total borrowings in FY2017 not exceeding Rs. 70,000 crore Radical Plastpack Pvt Ltd Bk lines ICRA B 59 Suspended Sah Polymers Ltd FBL-TL ICRA B+ 40.7 Revised from ICRA BB- Sah Polymers Ltd FBL- CC ICRA B+ 65 Revised from ICRA BB- Sah Polymers Ltd FBL- Unallocated ICRA B+ / 4.3 Revised from ICRA A4 ICRA BB- / Reaffirmed Shankar Rice & Gen. Mills FB Limits ICRA B 440 Reaffirmed Shree Hari Yarns Pvt Ltd LT, Fund Based - CC ICRA BB 80 Reaffirmed Shree Krishna Impex Bk Fac ICRA B / 115 Suspended ICRA A4 Singhal Metalloys Pvt. Ltd. Bk Fac ICRA B / 75 Suspended ICRA A4 Sudiva Spinners Pvt Ltd LT FB Bk Fac ICRA BBB 1449.5 Upgraded from BBB- Surmount Laboratories Pvt Ltd Bk Fac ICRA B+ / 95 Suspended ICRA A4 T.M. Patel Processing Pvt. Ltd. LT Bk Fac ICRA BB- 178.8 Suspended Tezpur Institute Of Medical TL ICRA B- 134.6 Suspended Sciences Pvt Ltd Tezpur Institute Of Medical CC Fac ICRA B- 5 Suspended Sciences Pvt Ltd Utsav Organic And Cold Chain crore CC ICRA B- 50 Suspended Utsav Organic And Cold Chain TL Fac ICRA B- 36.9 Suspended Utsav Organic And Cold Chain unallocated limits ICRA B- 13.1 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 email@example.com)
** Shares of Castrol India fall as much as 2.7 pct to 421.5 rupees
* Clarifies on news item "Bank Of Maharashtra may merge 450-500 loss-making branches in fy18 "
* Says whistle blower complaints placed before audit committee