April 10, 2017 / 10:15 AM / 4 months ago

ICRA ratings for Indian debt instruments-Apr 10

    Apr 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 7 and April 9, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Atul Motors Pvt Ltd                     ST – NFBL             ICRA A2      80      Reaffirmed
Jaydeep Cotton Fibres Pvt Ltd           Non-FBL               ICRA A2      80      Reaffirmed
Kh Exports India Pvt Ltd                ST, Non-FBL           ICRA A2+     650     Reaffirmed
enhanced from 54.50 CR
Kh Exports India Pvt Ltd                ST, Unallocated       ICRA A2+     1039    Reaffirmed
                                        limits
enhanced from 23.90 CR
Kotak Mahindra Asset                    Kotak Floater ST Fund ICRA A1+mfs          Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Bking and PSU   ICRA A1+mfs          Outstanding
Management Co. Ltd                      Debt Fund
Kotak Mahindra Asset                    Kotak Liquid Fund     ICRA A1+mfs          Outstanding
Management Co. Ltd
Lucky Steel Industries                  Non-FBL               ICRA A4      741.5   Reaffirmed
Mahadev Industries                      FB limits             ICRA A4      50      Reaffirmed
Mahadev Industries                      FB limits             ICRA A4      50      Reaffirmed
Nanda Infra Construction Pvt            Non FB Limits         ICRA A4+     80      Reaffirmed
Ltd
Nanda Infra Construction Pvt            Unallocated Limits    ICRA A4+     20      Reaffirmed
Ltd
Pan Agri Export                         NFBL                  ICRA A3      40      Reaffirmed
Power Grid Corporation Of               ST borrowing          ICRA A1+     46000   Outstanding
India Ltd                               programme
reduced from Rs 22000.00 crore
Raaja Magnetics Ltd                     ST- Non-FBL           ICRA A3      168.3   Reaffirmed
Reliance Communications Ltd             ST Fund based/Non-FBL ICRA A3+     73140   Downgraded
removed from watch
Reliance Communications Ltd             CP (CP) Programme     ICRA A3+     20000   Downgraded
removed from watch
Reliance Communications Ltd             ST Fund based/Non-FBL ICRA A3+     73140   Downgraded
removed from watch
Reliance Communications Ltd             CP (CP) Programme     ICRA A3+     20000   Downgraded
removed from watch
Reliance Infratel Ltd                   ST Fund based/Non-FBL ICRA A3+     2450    Downgraded
removed from watch
Reliance Infratel Ltd                   ST Debt (STD)         ICRA A3+     10000   Downgraded
                                        Programme
removed from watch
Reliance Infratel Ltd                   ST Fund based/Non-FBL ICRA A3+     2450    Downgraded
removed from watch
Reliance Infratel Ltd                   ST Debt (STD)         ICRA A3+     10000   Downgraded
                                        Programme
removed from watch
Reliance Telecom Ltd                    ST Fund based/Non-FBL ICRA A3+     7840    Downgraded
removed from watch
Reliance Telecom Ltd                    CP (CP) Programme     ICRA A3+     5000    Downgraded
removed from watch
Reliance Telecom Ltd                    ST Fund based/Non-FBL ICRA A3+     7840    Downgraded
removed from watch
Reliance Telecom Ltd                    CP (CP) Programme     ICRA A3+     5000    Downgraded
removed from watch
Rlj Concast Pvt Ltd                     Non-FBL               ICRA A4+     147.9   Reaffirmed
Sachdev Food Products                   Non FB Limits         ICRA A4      60      Reaffirmed
Sachdev Food Products Pvt Ltd           Non FB Limits         ICRA A4      60      Reaffirmed
Sri Shyam Agro Traders                  ST FBL                ICRA A4      20      Reaffirmed
Y.S. Investments                        Non FBL               ICRA A4      869     Reaffirmed

LONG TERM RATINGS:
-------------------
Amrut Builders                          FBL                   ICRA D       200     Withdrawn
Asa International India                 Bk Lines – TL         ICRA BBB-    1600
Microfinance Ltd.
Watch with negative implications removed and rating outlook assigned at stable
Asa International India                 NCD Programme         ICRA BBB-    200     Assigned
Microfinance Ltd.
Atul Motors Pvt Ltd                     LT - FBL              ICRA BBB     150     Reaffirmed
enhanced from Rs. 5.0 crore
Atul Motors Pvt Ltd                     LT – TL               ICRA BBB     167     Reaffirmed
enhanced from Rs. 9.77 crore
Atul Motors Pvt Ltd                     LT / ST - FBL         ICRA BBB /A2 1044    Reaffirmed
enhanced from Rs. 99.4 crore
Chiripal Textile Mills Pvt Ltd          LT Fund Based-TL      ICRA BB+     1060    Outstanding
Chiripal Textile Mills Pvt Ltd          LT Fund               ICRA BB+     400     Assigned
                                        Based-Proposed
                                        Working Capital
Dinjoye Tea Estate Pvt Ltd              FBL                   ICRA BB      37.7    Downgraded
                                                                                   from ICRA BB+
Dinjoye Tea Estate Pvt Ltd              Unallocated Limits    ICRA BB      62.3    Assigned
Jaydeep Cotton Fibres Pvt Ltd           FB Limits             ICRA BBB-    1040    Reaffirmed
Jaydeep Cotton Fibres Pvt Ltd           Unallocated Limits    ICRA BBB-    430     Reaffirmed
                                                              /A3
Kh Exports India Pvt Ltd                LT, Unallocated       ICRA A-      125     Reaffirmed
                                        limits
Kotak Mahindra Asset                    Kotak Corporate Bond  ICRA AAAmfs          Assigned
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Bond ST Fund    ICRA AAAmfs          Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Flexi Debt      ICRA AAAmfs          Outstanding
Management Co. Ltd                      Scheme
Kotak Mahindra Asset                    Kotak Treasury        ICRA AAAmfs          Outstanding
Management Co. Ltd                      Advantage Fund
Kotak Mahindra Asset                    Kotak Bond Fund       ICRA AAAmfs          Outstanding
Management Co. Ltd
Lucky Steel Industries                  FB Limit              ICRA B+      100     Reaffirmed
Maa Shitala Agro Pvt Ltd                FBL                   ICRA BB-     115     Reaffirmed
revised from Rs. 12.38 crore earlier
Maa Shitala Agro Pvt Ltd                Non-FBL               ICRA BB-     2.4     Reaffirmed
Maa Shitala Agro Pvt Ltd                Unallocated Limits    ICRA BB-     62.6    Reaffirmed
revised from Rs. 5.38 crore earlier
Madura Microfinance Ltd -               PTC Series A2         ICRA A- (SO) 6.3     Rating
Markosifmr Capital 2016                                                            upgraded
                                                                                   from ICRA
                                                                                   BBB-(SO)
Madura Microfinance Ltd -               PTC Series A1         ICRA A+ (SO) 16.4    Rating
Markosifmr Capital 2016                                                            upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
Mahadev Industries                      FB limits             ICRA B       208     Reaffirmed
Mahadev Industries                      FB limits             ICRA B       208     Reaffirmed
Maharashtra Transmission                TL                    ICRA BBB-    550     Reaffirmed
Communication Infrastructure
Ltd
Nanda Infra Construction Pvt            FB Limits             ICRA BB      120     Reaffirmed
Ltd
Natvar Cotex Pvt. Ltd.                  FBL                   ICRA B       65.1    Reaffirmed
Natvar Cotex Pvt. Ltd.                  Unallocated Limits    ICRA B       10.3    Reaffirmed
Oriental Insurance Co. Ltd              CPA                   iAAA                 Reaffirmed
Pan Agri Export                         FBL                   ICRA BBB-    360     Reaffirmed
Pan Agri Export                         Unallocated Limits    ICRA BBB-    104     Reaffirmed
                                                              /A3
Power Grid Corporation Of               LT bonds programme    ICRA AAA     134810  Outstanding
India Ltd
reduced from Rs 14000.00 crore
Power Grid Corporation Of               LT bonds              ICRA AAA     724817  Outstanding
India Ltd
reduced from Rs 90,228.10 crore
Power Grid Corporation Of               Working capital loan  ICRA AAA     42500   Outstanding
India Ltd
reduced from Rs 4250.00 crore
Power Grid Corporation Of               LT loans              ICRA AAA     133562.2Outstanding
India Ltd
enhanced from Rs 683.13 crore
Power Grid Corporation Of               LT/ ST- Fund based/   ICRA AAA     22000   Outstanding
India Ltd                               non fund based        /A1+
reduced from Rs 3700.00 crore
Raaja Magnetics Ltd                     LT-CC                 ICRA BBB-    150     Reaffirmed
Reliance Communications Ltd             NCD (NCD) Programme   ICRA BBB     50000   Downgraded
removed from watch and negative outlook assigned
Reliance Communications Ltd             LT FB/Non-FBL         ICRA BBB     281160  Downgraded
removed from watch and negative outlook assigned
Reliance Communications Ltd             NCD (NCD) Programme   ICRA BBB     50000   Downgraded
removed from watch and negative outlook assigned
Reliance Communications Ltd             LT FB/Non-FBL         ICRA BBB     281160  Downgraded
removed from watch and negative outlook assigned
Reliance Infratel Ltd                   LT FB/Non-FBL         ICRA BBB     22710   Downgraded
removed from watch and negative outlook assigned
Reliance Infratel Ltd                   LT FB/Non-FBL         ICRA BBB     22710   Downgraded
removed from watch and negative outlook assigned
Reliance Telecom Ltd                    LT FB/Non-FBL         ICRA BBB     8120    Downgraded
removed from watch and negative outlook assigned
Reliance Telecom Ltd                    LT FB/Non-FBL         ICRA BBB     8120    Downgraded
removed from watch and negative outlook assigned
Rlj Concast Pvt Ltd                     FB limits             ICRA BB      466.1   Reaffirmed
Sachdev Food Products                   FB Limits             ICRA BB-     79.1    Reaffirmed
Sachdev Food Products                   Unallocated Limits    ICRA BB- /A4 5.9     Reaffirmed
Sachdev Food Products Pvt Ltd           FB Limits             ICRA BB-     75      Reaffirmed
Sai Sannidhi Agro Tech                  LT - Fund based – TL  ICRA B       10      Reaffirmed
Sai Sannidhi Agro Tech                  LT - Fund based – CC  ICRA B       70      Reaffirmed
Sri Shyam Agro Traders                  LT FBL                ICRA B+      150     Reaffirmed
revised from Rs. 10.00 crore
Sri Srinivasa Spintex (India)           Fund Based – CC       ICRA B+      550     Reaffirmed
Ltd
Sri Srinivasa Spintex (India)           TL                    ICRA B+      639.5   Reaffirmed
Ltd
Sri Srinivasa Spintex (India)           Non-FBL               ICRA B+      24.7    Reaffirmed
Ltd
Sri Srinivasa Spintex (India)           Unallocated Limits    ICRA B+      28.3    Reaffirmed
Ltd
Sri Subramanyeswara Polymers            LT FBL                ICRA B+      102.4   Upgraded
Sri Subramanyeswara Polymers            LT Unallocated Limits ICRA B+      79.6    Upgraded
Sss Rice Mill Pvt Ltd                   FBL                   ICRA BB-     161.7   Reaffirmed
revised from Rs. 16.59 crore earlier
Sss Rice Mill Pvt Ltd                   Non-FBL               ICRA BB-     1.5     Reaffirmed
Sss Rice Mill Pvt Ltd                   Unallocated Limits    ICRA BB-     16.8    Reaffirmed
revised from Rs. 1.26 crore earlier
Tulsyan Rice Mill Pvt Ltd               FBL                   ICRA BB-     80      Reaffirmed
Umesh & Bros Construction               FB Limits - CC        ICRA B+      30      Assigned
Umesh & Bros Construction               Non-FBL – BG          ICRA B+      120     Assigned
Y.S. Investments                        FBL                   ICRA B+      100     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below