March 28, 2017 / 11:07 AM / 4 months ago

ICRA ratings for Indian debt instruments-Mar 28

13 Min Read

   Mar 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 27, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bahuleyan Charitable Foundation         Non FBL               ICRA A4      1       Reaffirmed
Kuber Texlen Pvt Ltd                    Non-FBL               ICRA A4      2.5     Reaffirmed
Nilon'S Enterprises Pvt Ltd             ST – Non Fund Based   ICRA A3      35      Assigned
Pankaj C. Patel                         BG                    ICRA A4      10      Assigned
Regent Beers And Wines Ltd              Non-FB Fac            ICRA A4      2.3     Reaffirmed
Sowbhagya Polymers Ltd                  ST- Non-FBL           ICRA A4      110     Reaffirmed
Supergems Jewellery                     ST: PSC               ICRA A4      120     Reaffirmed
Manufacturing Pvt Ltd
Supergems Jewellery                     Unallocated           ICRA A4      30      Reaffirmed
Manufacturing Pvt Ltd
Tvs Credit Services Ltd                 CP                    ICRA A1+     3000    Reaffirmed
Union Bank Of India                     CD Programme          ICRA A1+     100000  Assigned
Yes Bank Ltd                            CD Programme          ICRA A1+     100000  Outstanding
Yes Bank Ltd                            ST Fixed Deposit      ICRA A1+             Outstanding
                                        Programme
LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA]A+(SO)  1500    Assigned
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA]A+(SO)  6000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA]A+(SO)  3000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA]A+(SO)  2500    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA]A+(SO)  2500    Outstanding
Ltd
Bahuleyan Charitable Foundation         FBL                   ICRA BB-     87.5    Upgraded
                                                                                   from ICRA B+
Besto Mining India Pvt Ltd              Fund Based - TL       ICRA B+      135.3   Upgraded
                                                                                   from ICRA B
Besto Mining India Pvt Ltd              Fund Based – CC       ICRA B+      25      Upgraded
                                                                                   from ICRA B
Besto Mining India Pvt Ltd              LT – Unallocated      ICRA B+      30.7    Upgraded
                                                                                   from ICRA B
Delhi Aviation Fuel Facility            TL                    ICRA AA-     2200    Upgraded
Pvt Ltd                                                                            from ICRA A+
Disha Microfin Pvt Ltd                  Bk loan Fac           ICRA A-      750     Rating
                                                                                   Upgraded
                                                                                   from 
                                                                                  ICRA BBB-
E I Technologies Pvt Ltd                LT – Fund based       ICRA]BBB+    30      upgraded
                                                                                   from ICRA BBB
E I Technologies Pvt Ltd                LT – Non Fund Based   ICRA]BBB+    90      upgraded
                                                                                   from ICRA BBB
E I Technologies Pvt Ltd                LT – Unallocated      ICRA]BBB+    82      upgraded
                                                                                   from ICRA BBB
Ganapati Motors                         LT: FB : CC           ICRA BB-     75      Reaffirmed :
                                                                                   suspension
                                                                                   revoked
Ganapati Motors                         LT: FB : Dealer       ICRA BB-     210     Reaffirmed :
                                        Financing Scheme                           suspension
                                                                                   revoked
Icici Lombard General                   CPA                   iAAA                 Reaffirmed
Insurance Co. Ltd
Icici Lombard General                   Subordinated Debt     ICRA AAA     4850    Reaffirmed
Insurance Co. Ltd                       Programme
K.K. Proteins Pvt Ltd                   CC                    ICRA B+      180     Reaffirmed
Kuber Texlen Pvt Ltd                    FBL                   ICRA B+      77.5    Reaffirmed
Kuber Texlen Pvt Ltd                    Unallocated Limits    ICRA B+ /    27.5    Reaffirmed
                                                              ICRA A4;
Nilon'S Enterprises Pvt Ltd             LT – TL               ICRA BBB-    305     Assigned
Nilon'S Enterprises Pvt Ltd             LT – CC               ICRA BBB-    660     Assigned
Nirmal Seeds Pvt Ltd                    LT: TL                ICRA BBB-    119.3   Reaffirmed
Nirmal Seeds Pvt Ltd                    LT: CC                ICRA BBB-    850     Reaffirmed
Pankaj C. Patel                         CC                    ICRA B-      40      Assigned
Pankaj C. Patel                         TL                    ICRA B-      2.8     Assigned
Piramal Realty Pvt Ltd                  NCDs (NCDs)           ICRA A+(SO)  6000    Assigned
Piramal Realty Pvt Ltd                  NCDs (NCDs)           ICRA A+(SO)  3000    Outstanding
Raghunath Agro Tech Pvt Ltd             CC                    ICRA BB-     300     Reaffirmed
Regent Beers And Wines Ltd              TL Fac                ICRA B+      81.2    Reaffirmed
Regent Beers And Wines Ltd              CC Fac                ICRA B+      85      Reaffirmed
Regent Beers And Wines Ltd              Unallocated limits    ICRA B+      1.5     Reaffirmed
S. Venugopal Reddy                      Fund Based - TL       ICRA BB+     52.8    Upgraded
                                                                                   from ICRA BB
S. Venugopal Reddy                      Fund Based - Over     ICRA BB+     10      Upgraded
                                        Draft                                      from ICRA BB
S. Venugopal Reddy                      LT - Unallocated      ICRA BB+     12.2    Upgraded
                                                                                   from ICRA BB
Savera India Riding Systems             FB Limits (CC)        ICRA BB      100     Reaffirmed
Company Pvt Ltd
Savera India Riding Systems             FB Limits (TL)        ICRA BB      30      Reaffirmed
Company Pvt Ltd
Sharma Cars Pvt Ltd                     FB Limits             ICRA B+      343.7   Reaffirmed
Sharma Cars Pvt Ltd                     Unallocated Limits    ICRA B+      13.2    Reaffirmed
                                                              /ICRA A4
Sowbhagya Polymers Ltd                  LT-CC                 ICRA BB      65      Reaffirmed
Sowbhagya Polymers Ltd                  Unallocated Limits    ICRA BB /    45      Affirmed
                                                              ICRA A4
Sri Kaleeswara Ginning Mills            LT – FB Fac           ICRA D       50      Downgraded
                                                                                   from ICRA B-
Sri Kaleeswara Ginning Mills            Unallocated – ST / LT ICRA D/D     10      Downgraded
                                                                                   from ICRA B-
                                                                                   /ICRA A4
Suhani Knitfab Pvt Ltd                  FBL                   ICRA B+      70.5    Reaffirmed
Suhani Knitfab Pvt Ltd                  Unallocated Limit     ICRA B+      23.7    Reaffirmed
Tvs Credit Services Ltd                 Long-TL Fac-Proposed  ICRA A+      21460   Reaffirmed
Union Bank Of India                     Lower Tier II Bonds – ICRA AA+     8000    Outstanding
                                        Basel II
Union Bank Of India                     Basel II Compliant    ICRA AA+     4000    Outstanding
                                        Innovative Perpetual
                                        Debt instruments
Yes Bank Ltd                            Basel II Compliant    ICRA AA      19367   Outstanding
                                        Upper Tier II Bond
                                        Programme
Yes Bank Ltd                            Basel II compliant    ICRA AA      4610    Outstanding
                                        Upper Tier I Bond
                                        Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA      30000   Assigned
                                        Additional Tier I     (hyb)
                                        Bond programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA      3000*   Upgraded
                                        Additional Tier I     (hyb)                from
                                        Bond programme                             ICRA A+
                                                                                   (hyb)
*Amount Outstanding – Rs. 280 crore
Yes Bank Ltd                            Basel II compliant    ICRA AA+     27655   Outstanding
                                        Lower Tier II Bond
                                        Programme
Yes Bank Ltd                            Infrastructure Bond   ICRA AA+     50000   Outstanding
                                        Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA+     49000   Outstanding
                                        Tier II Bond Programme
--------------------------------------------------------------------------------------------
$: 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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