Hong Kong stocks tread water on Trump policy worry; China flat
* HK property developers fall on news of UnionPay's tighter rules
Dec 20 Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of December 19, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Aradhya Wire And Ropes Pvt Ltd Non-FBL ICRA A4 50 Reaffirmed enhanced from 4.35 CR Avantor Performance Materials Non-FB Fac ICRA A3 200 Reaffirmed India Ltd Canpac Trends Pvt Ltd Non-FBL ICRA A3 76 Assigned / outstanding enhanced from 1.28 CR Deva Drill Tech (India) Ltd Non-FBL ICRA A2 110 Reaffirmed Diach Chemicals And Pigments Non- FBL ICRA A4 20 Reaffirmed Pvt Ltd Ecl Finance Ltd CP Programme (IPO ICRA A1+ 30000 Withdrawn Financing) Edelweiss Commodities Services CP Programme (IPO ICRA A1+ 35000 Withdrawn Ltd financing) Edelweiss Finance & CP Programme (IPO ICRA A1+ 10000 Withdrawn Investments Ltd financing) Edelweiss Financial Services CP Programme (IPO ICRA A1+ 30000 Withdrawn Ltd financing) Emdet Engineers Pvt Ltd ST, NFBL ICRA A4 5 Outstanding Essen Speciality Films Pvt Ltd Export Packaging ICRA A2 100 Reaffirmed Credit Essen Speciality Films Pvt Ltd LC Limit ICRA A2 40 Reaffirmed Ewdpl Chandigarh Hospitality Non FB Bk Fac ICRA A4 52.5 Suspended Pvt Ltd Globe Capacitors Ltd NFBL ICRA A4+ 80 Suspended Jbm Ogihara Automotive India ST-Non Fund Based ICRA A3 40 Reaffirmed Ltd K.K. Automotive Pvt Ltd Non fund based Bk ICRA A4 2.1 Suspended facility Karvy Financial Services Ltd CP ICRA 4000 Reaffirmed A1+(SO)* * Rating backed by Guarantee by parent viz. Karvy Stock Broking Limited (KSBL) Lovelock & Lewes ST NFBL ICRA A1+ 10 Reaffirmed Mahanadi Education Society unallocated limits ICRA A4 0.2 Suspended Micromatic Grinding Short- Term NFBL ICRA A4+ 120 Reaffirmed Technologies Ltd Milano Papers Pvt Ltd BG ICRA A4 12 Assigned Noor Impex Pvt Ltd Non Fund Based- LOC ICRA A4 150 Suspended Palm Fibre (India) Pvt Ltd ST FBL ICRA A3 190 Reaffirmed Palm Fibre (India) Pvt Ltd ST unallocated ICRA A3 20 Reaffirmed Paracoat Products Ltd Non fund based Bk ICRA A4+ 115 Suspended facility Pave Infrastructure Pvt Ltd Non fund based Bk ICRA A4 100 Suspended facility Price Waterhouse (Kolkata) ST NFBL ICRA A1+ 37 Reaffirmed Pricewaterhousecoopers Pvt Ltd ST NFBL ICRA A1+ 1050 Reaffirmed enhanced from 87 CR Relaxo Footwears Ltd CP ICRA A1+ 500 Assigned (enhanced from 30) Relaxo Footwears Ltd NFB ICRA A1+ 1200 Outstanding Reliance Industries Ltd CP / ST NCD Programme ICRA A1+ 50000 Reaffirmed Sargam Metals Pvt Ltd ST, Non-FB Fac ICRA A4+ 85 Reaffirmed revised from 12.50 CR Scg Contracts India Pvt Ltd LC/BG Limits ICRA A3 250 Assigned/ outstanding enhanced from 15 CR Sterling Automobiles Pvt Ltd Inventory Funding Fac ICRA A3 215 Assigned Sterling Automobiles Pvt Ltd Non FB Fac ICRA A3 3 Assigned Super Electro Films Ltd NFBL ICRA A4+ 130 Suspended LONG TERM RATINGS: ------------------- Agrimas Chemicals Ltd Bk Fac ICRA BBB- 430 Suspended /A3 Anupam Synthetics Pvt Ltd FB Bk Fac ICRA B+ 68 Suspended Aradhya Wire And Ropes Pvt Ltd FBL ICRA BB 200 Reaffirmed enhanced from 12 CR Arihant Packwell Fund based - CC ICRA B+ 40 Assigned Arihant Packwell Fund based - TL ICRA B+ 60 Assigned Avantor Performance Materials FB Fac ICRA BBB- 150 Reaffirmed India Ltd B.K.Exports CC ICRA B- 250 Revised from B Bengal Ambuja Housing FB Fac ICRA BBB+ 500 Downgraded Development Ltd from A- Bengal Ambuja Housing Non-FB Fac ICRA BBB+ 100* Downgraded Development Ltd from A- *Limits of Rs. 10 crore are fully fungible with fund-based facilities Bengal Ambuja Housing Unallocated Limits ICRA BBB+ 2420 Downgraded Development Ltd from A- Canpac Trends Pvt Ltd CC Limits ICRA BBB- 330 Assigned / outstanding enhanced from 21 CR Canpac Trends Pvt Ltd TL ICRA BBB- 844 Assigned / outstanding enhanced from 11.72 CR Deva Drill Tech (India) Ltd TL ICRA BBB+ 176 Reaffirmed Deva Drill Tech (India) Ltd FBL ICRA BBB+ 130 Reaffirmed /A2 Dhana Laxmi Cotton Industries FBL ICRA B 100 Suspended Diach Chemicals And Pigments FBL ICRA BB- 120 Reaffirmed Pvt Ltd Ds Spiceco Pvt Ltd LT FB CC ICRA A(S) 100 Reaffirmed Ds Spiceco Pvt Ltd LT FB TL ICRA A(S) 300 Assigned Ds Spiceco Pvt Ltd LT FB CC ICRA A+(SO) 500 Upgraded enhanced from Rs. 35.0 crore Emdet Engineers Pvt Ltd LT, FBL - TL ICRA BB 55.8 Assigned /Outstanding (enhanced from Rs. 2.00 crore) Emdet Engineers Pvt Ltd LT, FBL - CC ICRA BB 75 Outstanding Essen Speciality Films Pvt Ltd TL ICRA BBB+ 23.1 Reaffirmed Essen Speciality Films Pvt Ltd CC* ICRA BBB+ Reaffirmed * Sub limit of Export Packaging Credit Ewdpl Chandigarh Hospitality FB Bk Fac ICRA B+ 20 Suspended Pvt Ltd Globe Capacitors Ltd FBL ICRA BB+ 210 Suspended Globe Capacitors Ltd Unallocated limits ICRA BB+ 4.4 Suspended Gna Gears Ltd TL ICRA BBB- 452.4 Assigned Gna Gears Ltd CC Fac ICRA BBB- 700 Assigned Gna Gears Ltd Unallocated Limits ICRA BBB- 47.6 Assigned Goyal Sons Jewels Pvt Ltd FBL ICRA B+ 170 Suspended Goyal Sons Zaveri Pvt Ltd FBL ICRA B+ 200 Suspended Hindusthan Urban TL ICRA BBB- 759.9 Suspended Infrastructure Ltd Hindusthan Urban Fund based and NFBL ICRA BBB- 4672.5 Notice for Infrastructure Ltd /A3 withdrawal Icici Bank Ltd Infrastructure Bonds ICRA AAA 150000 Assigned Indo-Mim Pvt Ltd CC ICRA AA 879.5 Upgraded from AA- Indo-Mim Pvt Ltd TL ICRA AA 3733.9 Upgraded from AA- (enhanced from 265.79 CR) Indo-Mim Pvt Ltd NCD# ICRA AA 600 Upgraded from AA- Inodaya Foods Pvt Ltd FB Bk Fac ICRA B+ 80 Suspended Jbm Ogihara Automotive India LT-fund based CC ICRA BBB- 170 Reaffirmed Ltd Jbm Ogihara Automotive India LT-fund based TL ICRA BBB- 96.3 Reaffirmed Ltd Jbm Ogihara Automotive India LT/ST- Unallocated ICRA BBB- 193.7 Reaffirmed Ltd /ICRA A3 Jmc Constructions Pvt Ltd Issuer rating Ir D Withdrawn K.K. Automotive Pvt Ltd Working capital ICRA B+ 60 Suspended facility Karvy Financial Services Ltd Subordinated Debt ICRA A 300 Developing Programme implications Karvy Financial Services Ltd NCD Programme ICRA A 500 Developing implications Karvy Financial Services Ltd LT Bk lines (BASEL ICRA A+(SO)* 15000 Reaffirmed II) * Rating backed by Guarantee by parent viz. Karvy Stock Broking Limited (KSBL) Karvy Financial Services Ltd Principle Protected PP-MLD ICRA 750 Developing NCD Programme A implications Khandesh Roller Flour Mills FBF ICRA BB+ 170 Suspended Pvt Ltd Lovelock & Lewes LT FBL ICRA AA 150 Upgraded from AA- Lovelock & Lewes unallocated ICRA AA 60 Upgraded from AA- M/S Guru Nanak Rice Mills FBL ICRA B 120 Suspended M/S Rajendra Rice & General unallocated limits ICRA B+ / 0.5 Suspended Mills ICRA A4 M/S Rajendra Rice & General FBL ICRA B+ 69.5 Suspended Mills Machino Polymers Ltd LT-fund based CC ICRA - - - (Reduced from 67.50) Machino Polymers Ltd LT-fund based TL ICRA - - - (Reduced from 9.00) Machino Polymers Ltd LT-non fund based ICRA - - - (Reduced from 1.50) Machino Polymers Ltd ST-Non Fund Based ICRA - - - (Reduced from 56.00) Machino Polymers Ltd LT/ST-fund based/Non ICRA BBB+ 1655 Reaffirmed fund based /ICRA A2+ (Increased from 92.0) Mahanadi Education Society TL ICRA BB- 89.8 Suspended Mahanadi Education Society optionally ICRA BB- 50 Suspended convertible debenture LIMITS Micromatic Grinding Long- Term Fund- ICRA BB+ 70 Reaffirmed Technologies Ltd Based Limits Milano Papers Pvt Ltd CC ICRA B+ 88 Assigned Mirae Asset Global Investment Mirae Asset Savings ICRA AAAmfs Assigned (India) Pvt Ltd Fund Modern Living Solutions Pvt Ltd LT Bk limits ICRA B+ 93.4 Suspended Navkar Lifesciences Fund based - CC ICRA BB- 60 Assigned Navkar Lifesciences Fund based - TL ICRA BB- 70 Assigned Paracoat Products Ltd TL ICRA BB+ 90.3 Suspended Paracoat Products Ltd Working capital ICRA BB+ 130 Suspended facility Pave Infrastructure Pvt Ltd Working capital ICRA BB- 10 Suspended facility Price Waterhouse (Kolkata) LT FBL ICRA AA 150 Upgraded from AA- Price Waterhouse (Kolkata) Unallocated ICRA AA 53 Upgraded from AA- Pricewaterhousecoopers Pvt Ltd LT FBL ICRA AA 4600 Upgraded from AA- enhanced from 395 CR Raj Kumar Goel Educational Over Draft ICRA BB+ 200 Reaffirmed Foundations Raj Ratan Smelter Ltd LT/ST FB/non-FB ICRA C+ /A4 185 Revised from B/ A4 Relaxo Footwears Ltd TL ICRA A+ 1360 Outstanding Relaxo Footwears Ltd FBL ICRA A+ 1000 Outstanding Sai Traders Bk limits ICRA BB- 120 Notice for withdrawal Sargam Metals Pvt Ltd LT, TL ICRA B- 25 Revised from B revised from 5 CR Sargam Metals Pvt Ltd LT, FB Fac ICRA B- 300 Revised from B enhanced from 18.50 CR Savfab Developers Pvt. Ltd. TL Facility ICRA D 350 Revised from B+ Scg Contracts India Pvt Ltd Working Capital ICRA BBB- 30 Outstanding Limits Shyam Coal Corporation Fund Based- CC ICRA B+ 70 Suspended Span Pumps Pvt Ltd Fund based Bk Fac ICRA BB+ 130 Suspended /A4+ Sterling Automobiles Pvt Ltd TL ICRA BBB- 31 Assigned Sterling Automobiles Pvt Ltd Unallocated Limits ICRA BBB- 1 Assigned /A3 Sudhamsu Exim Pvt Ltd unallocated limits ICRA B+ / 150 Assigned ICRA A4 Super Electro Films Ltd FBL ICRA BB+ 174.1 Suspended Super Electro Films Ltd unallocated limits ICRA BB+ 62.7 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 firstname.lastname@example.org)
* HK property developers fall on news of UnionPay's tighter rules
* Cipla Ltd clarifies on news item "USFDA issued import alert on Cipla's Tadalafil drug made at Bhagwanpur unit"
** Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd and Indian Oil Corp Ltd fall as much as 1.5 pct each