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ICRA ratings for Indian debt instruments-May 31
May 31, 2017 / 11:13 AM / 4 months ago

ICRA ratings for Indian debt instruments-May 31

    May 31 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 30, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Khatushyam Processors Pvt Ltd           NFBL                  ICRA A4      10      Reaffirmed
Reliance Infratel Ltd                   ST Debt (STD)         ICRA D       10000   Downgraded
                                        Programme                                  from ICRAA4
Reliance Telecom Ltd                    ST Non-FBL            ICRA D       7840    Downgraded
                                                                                   from ICRAA4
Reliance Infratel Ltd                   ST Fund based/Non-FBL ICRA D       2450    Downgraded
                                                                                   from ICRAA4
Reliance Communications Ltd             CP (CP) Programme     ICRA D       20000   Downgraded
                                                                                   from ICRAA4
Reliance Communications Ltd             ST FB/Non-FBL         ICRA D       73140   Downgraded
                                        (including                                 from ICRAA4
                                        unallocated)
Qualiance International Pvt Ltd         Fund based –Packing   ICRA A4      120     Reaffirmed
                                        Credit
Qualiance International Pvt Ltd         Non Fund based –LOC   ICRA A4      30      Reaffirmed
Src Chemicals Pvt Ltd                   ST: FBL               ICRA A3      50      Revised from
                                                                                   ICRAA3+
Src Chemicals Pvt Ltd                   ST: NFBL              ICRA A3      223.5   Revised from
                                                                                   ICRAA3+
Sundaram Asset Management Co.           ST -Proposed          ICRA A1+     300     Assigned
Ltd
Tgs Investment & Trade Pvt Ltd          ST Debt Programme     ICRA A1+     8000    Reaffirmed
Trapti Trading & Investments            ST Debt Programme     ICRA A1+     10000   Reaffirmed
Pvt Ltd
(enhanced from 800.00)

LONG TERM RATINGS:
-------------------
Chaitanya India Fin Credit              PTC Series A1         ICRA         101.5   Withdrawn
Pvtltd                                                        BBB+(SO)
Karnataka State Road Transport          FB TL                 ICRA BBB+    1577    Assigned
Corporation
Karnataka State Road Transport          Proposed TL           ICRA BBB+    2423    Assigned
Corporation
Khatushyam Processors Pvt Ltd           FBL                   ICRA B+      85.9    Reaffirmed
Khatushyam Processors Pvt Ltd           Unallocated Limits    ICRA B+ /    23.1    Reaffirmed
                                                              ICRA A4
Krishna Cottex Industries               FBL                   ICRA B       53.7    Reaffirmed
Krishna Cottex Industries               Unallocated Limits    ICRA B       6.8     Reaffirmed
Om Cotton & Oil Industries              FB –CC                ICRA B+      50      Reaffirmed
Om Cotton & Oil Industries              FB –TL                ICRA B+      0.1     Reaffirmed
Om Cotton & Oil Industries              Unallocated Limits    ICRA B+      12.4    Reaffirmed
Reliance Communications Ltd             NCD (NCD) Programme   ICRA D       50000   Downgraded
                                                                                   from ICRABB
Reliance Communications Ltd             LT FB/Non-FBL         ICRA D       281160  Downgraded
                                        (including                                 from ICRABB
                                        unallocated)
Reliance Infrastructure Invit           Issuer Rating         IrAAA        -       Assigned
Fund
Reliance Infratel Ltd                   LT FB Limits          ICRA D       2271    Downgraded
                                        (including                                 from ICRABB
                                        unallocated)
Reliance Telecom Ltd                    LT FB (including      ICRA D       8120    Downgraded
                                        unallocated)                               from ICRABB
Reliance Telecom Ltd                    CP (CP) Programme     ICRA D       5000    Downgraded
                                                                                   from ICRAA4
Src Chemicals Pvt Ltd                   LT: FBL               ICRA BBB-    80      Revised from
                                                                                   ICRABBB
Src Chemicals Pvt Ltd                   LT / ST: Unallocated  ICRA BBB-    30      Revised from
                                        limits                /A3                  ICRABBB/A3
Sundaram Asset Management Co.           LT -TL                ICRA AA      650     Reaffirmed
Ltd
(enhanced from 50.00 CR)
Tgs Investment & Trade Pvt Ltd          NCD                   ICRA AA      250     Reaffirmed
Varsha Industries Pvt Ltd               FB –TL                ICRA B       1.1     Reaffirmed
Varsha Industries Pvt Ltd               FB –CC                ICRA B /     470     Reaffirmed
                                                              ICRA A4
(enhanced from Rs. 40.00 CR)
Vichitra Constructions Pvt Ltd          FBL                   ICRA C       50      Reaffirmed
Vichitra Constructions Pvt Ltd          Proposed FB Limits    ICRA C       10      Reaffirmed
Vichitra Constructions Pvt Ltd          Non-FBL               ICRA C       20      Reaffirmed
Vichitra Constructions Pvt Ltd          Proposed Non-FBL      ICRA C       40      Reaffirmed
Vivekanand Enterprise                   LT FBL –TL            ICRA BB-     31.2    Reaffirmed
Vivekanand Enterprise                   LT FBL –CC            ICRA BB-     2.3     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)

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