June 1, 2017 / 11:10 AM / 4 months ago

ICRA ratings for Indian debt instruments-Jun 1

   Jun 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 31, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Armaan Industries Pvt Ltd               ST NFBL               ICRA A4      1.8     Reaffirmed
Barclays Bank Plc                       PTC's                 ICRA A1+     6088.3  Downgraded
                                                                                   from ICRA A1
Beekay Universal Impex Pvt Ltd          ST non-fund based     ICRA A4+     160     Withdrawn
Brigade Enterprises Ltd                 ST –Non fund based Bk ICRA A1      600     Reaffirmed
                                        lines
Centaur Pharmaceuticals Pvt Ltd         ST, FB Fac            ICRA A2+     30      Reaffirmed
Centaur Pharmaceuticals Pvt Ltd         ST, non-FB Fac        ICRA A2+     120     Reaffirmed
Edelweiss Finance And                   CP Programme (IPO     ICRA A1+     10000   Withdrawn
Investments Ltd                         financing)
Edelweiss Finance And                   CP Programme          ICRA A1+     10000   Outstanding
Investments Ltd
Edelweiss Finance And                   ST Principal          PP-MLDICRA   4000    Outstanding
Investments Ltd                         Protected Market      A1+
                                        Linked Debenture Programme
Happy Forgings Ltd                      Non FB limits         ICRA A2      314.4   Revised from
                                                                                   ICRA A3+
Hindustan Hydraulics Pvt Ltd            ST: Non fund based    ICRA A4      100     Reaffirmed
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     25000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     40000   Outstanding
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Outstanding
                                        financing
L&T Investment Management Ltd           L&T Cash Fund         ICRA AA1+mfs -       Reaffirmed
L&T Investment Management Ltd           L&T Ultra ST Fund     ICRA AA1+mfs -       Reaffirmed
L&T Investment Management Ltd           L&T LiquidFund        ICRA AA1+mfs -       Reaffirmed
M/S. Siddhartha Construction            Non FB –BG            ICRA A4      50      Reaffirmed
Reliance Industries Ltd                 CP / ST NCD Programme ICRA A1+     50000   Assigned
Sarala Development &                    MFI Grading           M3           -       Assigned
Microfinance Pvt Ltd
Surya Roshni Ltd                        CP (CP) Programme     ICRA A1      200     Downgraded
                                                                                   from ICRA A1+
Surya Roshni Ltd                        CP (CP) Programme     ICRA A1+     2850    Outstanding

LONG TERM RATINGS:
-------------------
Aastha Fashions Pvt Ltd                 LT Fund Based : CC    ICRA B+      60      Reaffirmed
Aastha Fashions Pvt Ltd                 LT Fund Based : TL    ICRA B+      29.2    Reaffirmed
Advinus Therapeutics Ltd                NCD                   ICRA AA+(SO) 2700    Reaffirmed
Armaan Industries Pvt Ltd               LT Fund Based : CC    ICRA BB-     50      Reaffirmed
Armaan Industries Pvt Ltd               LT Fund Based : TL    ICRA BB-     34.9    Reaffirmed
Brigade Enterprises Ltd                 LT –Fund based Bk     ICRA A       21400   Reaffirmed
                                        lines
Centaur Pharmaceuticals Pvt Ltd         LT, FB Fac            ICRA BBB+    1000    Reaffirmed
Darter Cvifmr Capital 2017              PTC Series A1         ICRA A-      375.9   Assigned
Darter Cvifmr Capital 2017              PTC Series A2         ICRA BBB-    22.6    Assigned
Dindigul City Municipal                 Issuer Rating         IrBB-        -       assigned
Corporation
Edelweiss Finance And                   NCD Programme         ICRA AA      12500   Outstanding
Investments Ltd
Edelweiss Finance And                   Subordinated Debt     ICRA AA      500     Outstanding
Investments Ltd                         Programme
Edelweiss Finance And                   Bk Lines              ICRA AA      5000    Outstanding
Investments Ltd
Edelweiss Finance And                   LT Principal          PP-MLDICRA   8000    Outstanding
Investments Ltd                         Protected Market      AA
                                        Linked Debenture Programme
Happy Forgings Ltd                      Unallocated Limits    ICRA BBB-/A2 199.9   Revised from
                                                                                   ICRA BBB /
                                                                                   A3+
Happy Forgings Ltd                      FB –CC                ICRA BBB+    750     Revised from
                                                                                   ICRA BBB
Happy Forgings Ltd                      FB – TL               ICRA BBB+    1435.7  Revised from
                                                                                   ICRA BBB
Hindustan Hydraulics Pvt Ltd            LT: CC                ICRA BB-     51      Reaffirmed
Hindustan Hydraulics Pvt Ltd            LT: TL                ICRA BB-     11      Reaffirmed
Hindustan Hydraulics Pvt Ltd            LT: Unallocated       ICRA BB-     38      Reaffirmed
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   25500   Outstanding
                                                              AA
L&T Investment Management Ltd           L&T Triple Ace Bond   ICRA AAAmfs  -       Reaffirmed
                                        Fund
L&T Investment Management Ltd           L&T ST Opportunities  ICRA AAAmfs  -       Reaffirmed
                                        Fund
L&T Investment Management Ltd           L&T Flexi Bond Fund   ICRA AAAmfs  -       Reaffirmed
L&T Investment Management Ltd           L&T Bking and PSU     ICRA AAAmfs  -       Reaffirmed
                                        Debt Fund
M/S. Siddhartha Construction            FB –CC                ICRA B+      20      Reaffirmed
M/S. Siddhartha Construction            Unallocated           ICRA B+/A4   70      Reaffirmed
Orangejaisalmer Wind Energy             Rupee TL              ICRA A-      1308.9  Reaffirmed
Pvt. Ltd.
Orangejaisalmer Wind Energy             CC                    ICRA A-      72      Reaffirmed
Pvt. Ltd.
Orangejaisalmer Wind Energy             Unallocated           ICRA A-      69.1    Reaffirmed
Pvt. Ltd.
Oriental Bank Of Commerce               Basel III compliant   ICRA A       20000   Downgraded
                                        Tier I Bonds          (hyb)                from ICRA A+
                                                                                   (hyb)
Oriental Bank Of Commerce               Basel II compliant    ICRA A+      5000    Downgraded
                                        Upper Tier II Bonds                        from ICRA AA-
Oriental Bank Of Commerce               Basel II compliant    ICRA AA-     12000   Downgraded
                                        Upper Tier II Bonds                        from ICRA AA
Oriental Bank Of Commerce               Basel II compliant    ICRA AA      5000    Withdrawn
                                        Upper Tier II Bonds
Oriental Bank Of Commerce               Basel III compliant   ICRA AA      30000   Downgraded
                                        Tier II Bonds         (hyb)                from ICRA AA
                                                                                   (hyb)
Orissa Concrete & Allied                Bk Fac                ICRA D       185     -
Industries Ltd
Pandit Automotive Pvt Ltd               CC                    ICRA C-      750     Revised from
                                                                                   ICRA BB-
Pandit Automotive Pvt Ltd               TL                    ICRA C-      226     Revised from
                                                                                   ICRA BB-
Rajapalayam Municipality                Issuer Rating         IrBB+        -       Assigned
Shree Hanuman Trust                     Fund Based - TL       ICRA B+      595     Reaffirmed
Ti Steels Pvt                           FB –CC                ICRA D       395     Reaffirmed
Ti Steels Pvt                           FB – TL               ICRA D       11      Reaffirmed
Tiruchirapalli City Municipal           Issuer Rating         IrBBB+       -       Assigned
Corporation
VRL Logistics Ltd                       FB –CC                ICRA A-      989.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
VRL Logistics Ltd                       FB – TL               ICRA A-      1065.1  Upgraded
                                                                                   from ICRA
                                                                                   BBB+
--------------------------------------------------------------------------------------------
$: 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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