February 27, 2017 / 11:02 AM / 6 months ago

ICRA ratings for Indian debt instruments-Feb 27

   Feb 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 24, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Idbi Bank Ltd                           Certificates of       ICRA A1+            Reaffirmed
                                        Deposit Programme
Innovador Traders Pvt Ltd               NCDs (NCDs)           ICRA A1+    1270    Withdrawn
                                                              (SO)
Innovador Traders Pvt Ltd               NCDs (NCDs)           ICRA A1+    1014    Withdrawn
                                                              (SO)
Magma Fincorp Ltd -Mfl                  PTC Series A2         ICRA A1+            Reaffirmed
Securitisation Trust Xxxviii                                  (SO)
Magma Fincorp Ltd -Mfl                  PTC Series A3         ICRA A1+            Reaffirmed
Securitisation Trust Xxxviii                                  (SO)
Malati Founders Pvt Ltd                 ST: Non-FBL           ICRA A4+    5       Reaffirmed
Mathiyan Constructions Pvt Ltd          Non-FBL               ICRA A4     240     Reaffirmed
Premier Explosives Ltd                  ST – Fund based – sub ICRA A              Revised from
                                        limit                                     ICRA A-
Premier Explosives Ltd                  ST – Non Fund based   ICRA A1     1200    Revised from
                                                                                  ICRA A2+
Premier Explosives Ltd                  ST – Non Fund based – ICRA A1             Revised from
                                        sub limit                                 ICRA A2+
Skm Animal Feeds And Foods              ST fund based facilityICRA A2+    1800    Upgraded
India Pvt Ltd                                                                     from ICRA A2
Skm Animal Feeds And Foods              ST non-FB Fac         ICRA A2+    605     Upgraded
India Pvt Ltd                                                                     from ICRA A2
Sri Jayarama Motors Pvt Ltd             BG                    ICRA A4     10      Assigned
Sushila Parmar International            NFBL                  ICRA A2+    2385    Reaffirmed
Pvt Ltd

MEDIUM TERM RATINGS:
-------------------
Idbi Bank Ltd                           Fixed Deposits        MAA-                Downgraded
                                        Programme                                 from MAA+
LONG TERM RATINGS:
-------------------
Greenstar Fertilizers Ltd               LT, FB Fac            ICRA BBB-   4000    Reaffirmed
Haamid Real Estates Pvt Ltd             NCD                   ICRA BB-    1400    Withdrawn
                                                              (SO)
Idbi Bank Ltd                           Additional Tier I     ICRA A              Downgraded
                                        Bonds                                     from ICRA A+
Idbi Bank Ltd                           Upper Tier II Bonds   ICRA A+             Downgraded
                                        Programme                                 from
                                                                                  ICRA AA-
Idbi Bank Ltd                           Basel II Compliant    ICRA A+             Downgraded
                                        Perpetual Bonds                           from
                                                                                  ICRA AA-
Idbi Bank Ltd                           Infrastructure Bonds  ICRA AA-            Downgraded
                                                                                  from ICRA AA
Idbi Bank Ltd                           Flexi Bond Series     ICRA AA-            Downgraded
                                                                                  from ICRA AA
Idbi Bank Ltd                           Senior & Lower Tier   ICRA AA-            Downgraded
                                        II (Subordinated                          from ICRA AA
                                        Bonds)
Idbi Bank Ltd                           Subordinated Debt     ICRA AA-            Downgraded
                                        Programme                                 from ICRA AA
Idbi Bank Ltd                           Basel III Compliant   ICRA AA-            Downgraded
                                        Tier II Bonds                             from ICRA AA
Innovador Traders Pvt Ltd               NCDs (NCDs)           ICRA AA-    5150    Assigned
                                                              (SO)
Innovador Traders Pvt Ltd               NCDs (NCDs)           ICRA AA-    4150    Withdrawn
                                                              (SO)
Magma Fincorp Ltd - Mfl Securi          PTC Series A2         ICRA AAA            Reaffirmed
Tisation Trust Xl                                             (SO)
Magma Fincorp Ltd - Mfl Securi          Liquidity Facility    ICRA AAA            Reaffirmed
Tisation Trust Xl                                             (SO)
Magma Fincorp Ltd - Mfl Securi          Second Loss Facility  ICRA BBB -          Reaffirmed
Tisation Trust Xl                                             (SO)
Magma Fincorp Ltd -                     PTC Series A1         ICRA AAA            Reaffirmed
Mfl Securi Tisation  Trust Xli                                (SO)
Magma Fincorp Ltd -                     PTC Series A2         ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xli                                 (SO)
Magma Fincorp Ltd -                     PTC Series A3         ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xli                                 (SO)
Magma Fincorp Ltd -                     Liquidity Facility    ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xli                                 (SO)
Magma Fincorp Ltd -                     Second Loss Facility  ICRA BB             Reaffirmed
Mfl Securi Tisation Trust Xli                                 -(SO)
Magma Fincorp Ltd -                     PTC Series A1         ICRA AAA            Reaffirmed
MflSecuriTisation Trust Xlii                                  (SO)
Magma Fincorp Ltd -                     PTC Series A2         ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xlii                                (SO)
Magma Fincorp Ltd -                     Liquidity Facility    ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xlii                                (SO)
Magma Fincorp Ltd -                     Second Loss Facility  ICRA BBB -          Reaffirmed
Mfl Securi Tisation Trust Xlii                                (SO)
Magma Fincorp Ltd -                     PTC Series A1         ICRA AA             Reaffirmed
Mfl Securi Tisation Trust Xlv                                 (SO)
Magma Fincorp Ltd -                     PTC Series A2         ICRA AA             Reaffirmed
Mfl Securi Tisation Trust Xlv                                 (SO)
Magma Fincorp Ltd -                     Liquidity Facility    ICRA AAA            Reaffirmed
Mfl Securi Tisation Trust Xlv                                 (SO)
Magma Fincorp Ltd -                     Second Loss Facility  ICRA BBB            Reaffirmed
Mfl Securi Tisation Trust Xlv                                 -(SO)
Magma Fincorp Ltd -                     PTC Series A1         ICRA AAA            Reaffirmed
Mfl Securitisation Trust Xl                                   (SO)
Magma Fincorp Ltd -                     PTC Series A1         ICRA AA             Reaffirmed
Mfl Securitisation Trust Xxxix                                (SO)
Magma Fincorp Ltd -                     PTC Series A2         ICRA AA             Reaffirmed
Mfl Securitisation Trust Xxxix                               (SO)
Magma Fincorp Ltd                       PTC Series A4         ICRA AAA            Reaffirmed
-Mfl Securitisation Trust                                     (SO)
Xxxviii
Magma Fincorp Ltd                       PTC Series A5         ICRA AAA            Reaffirmed
-Mfl Securitisation Trust                                     (SO)
Xxxviii
Magma Fincorp Ltd                       Liquidity Facility    ICRA AAA            Reaffirmed
-Mfl Securitisation Trust                                     (SO)
Xxxviii
Magma Fincorp Ltd                       Second Loss Facility  ICRA BBB-           Reaffirmed
-Mfl Securitisation                                          (SO)
Trust Xxxviii
Magma Fincorp Ltd                       PTC Series A1         ICRA AA             Reaffirmed
-Mfl Securitisation Trust Xxx                                 (SO)
Magma Fincorp Ltd                       PTC Series A2         ICRA AA             Reaffirmed
-Mfl Securitisation Trust Xxx                                 (SO)
Magma Fincorp Ltd                       Liquidity Facility    ICRA AAA            Reaffirmed
-Mfl SecuritisationTrust Xxx                                 (SO)
Magma Fincorp Ltd                       Second Loss Facility  ICRA BBB-           Reaffirmed
-Mfl Securitisation Trust Xxx                                 (SO)
Magma Fincorp Ltd                       PTC Series A1         ICRA AA             Reaffirmed
-Mfl Securitisation Trust Xxxii                               (SO)
Magma Fincorp Ltd                       PTC Series A2         ICRA AA             Reaffirmed
-Mfl Securitisation Trust Xxxii                               (SO)
Magma Fincorp Ltd                       Liquidity Facility    ICRA AAA            Reaffirmed
-Mfl Securitisation Trust Xxxii                               (SO)
Magma Fincorp Ltd                       Second Loss Facility  ICRA BBB-           Reaffirmed
-Mfl Securitisation Trust Xxxii                               (SO)
Malati Founders Pvt Ltd                 LT/ST: Unallocated    ICRA  BB+   26.6    Assigned
                                        limit
Malati Founders Pvt Ltd                 LT: FBL               ICRA BB+    47.8    Reaffirmed
Mathiyan Constructions Pvt Ltd          FB Limits             ICRA C+     100     Revised from
                                                                                  ICRA B
Pkm Projects Pvt Ltd                    LT Fund Based – TL    ICRA D      400     Reaffirmed;
                                                                                  Suspension
                                                                                  revoked
Premier Explosives Ltd                  LT – TL               ICRA A      252.5   Revised from
                                                                                  ICRA A-
Premier Explosives Ltd                  LT – TL – sub limit   ICRA A              Revised from
                                                                                  ICRA A-
Premier Explosives Ltd                  LT – Fund based       ICRA A      350     Revised from
                                                                                  ICRA A-
Premier Explosives Ltd                  LT – Fund based – sub ICRA A              Revised from
                                        limit                                     ICRA A-
Premier Explosives Ltd                  LT – Proposed         ICRA A      38.6    Revised from
                                                                                  ICRA A-
Skm Animal Feeds And Foods              LT Fac – TL           ICRA BBB+   105     Upgraded
India Pvt Ltd                                                                     from
                                                                                  ICRA BBB
Sri Jayarama Motors Pvt Ltd             CC                    ICRA BB     97.5    Assigned
Sri Jayarama Motors Pvt Ltd             TL                    ICRA BB     10.9    Assigned
Sri Jayarama Motors Pvt Ltd             Unallocated           ICRA BB /   1.6     Assigned
                                                              ICRA A4
Sushila Parmar International            FBL                   ICRA BBB+   50      Reaffirmed
Pvt Ltd
Tril It4 Pvt Ltd                        NCD                   ICRA A+     3500    Reaffirmed
Tril It4 Pvt Ltd                        NCD (subordinate)     ICRA A+     2000    Reaffirmed
Tril It4 Pvt Ltd                        NCD                   ICRA A+(SO) 4000    Assigned
--------------------------------------------------------------------------------------------
$: 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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