June 12, 2017 / 9:49 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jun 12

22 Min Read

 (Repeating to add more ratings as of June 9, 2017)
    Jun 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 9, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharat Silks                            ST non fund based fac ICRA A4      31      Issuer not
                                                                                   cooperating
Chadha Sugars & Industries Ltd          ST Non-fund Based     ICRA A4      60      Reaffirmed
Geetha Timbers                          ST NFBL               ICRA A4      95      Issuer not
                                                                                   cooperating
New Vardhman Vitrified Pvt Ltd          BG                    ICRA A4      67.5    Review
                                                                                   Process is
                                                                                   Underway
New Vardhman Vitrified Pvt Ltd          Foreign LOC*          ICRA A4              Review
                                                                                   Process is
                                                                                   Underway
*Sub-limit of term loan
New Vardhman Vitrified Pvt Ltd          LOC^                  ICRA A4              Review
                                                                                   Process is
                                                                                   Underway
^ Sub-limit of cash credit
Pearl Engineering Company               ST Non fund based     ICRA A4      175     Issuer not
                                                                                   cooperating
Platinium Tie-Up Pvt Ltd                ST NFBL               ICRA A4      62      Reaffirmed
Platinium Tie-Up Pvt Ltd                ST Unallocated Limit  ICRA A4      45      Reaffirmed
R J Buildcon Pvt Ltd                    ST NFBL               ICRA A4      60      Issuer
                                                                                   delayed in
                                                                                   giving
information
Silvertoan Papers Ltd                   ST Non fund based     ICRA A3      10      Reaffirmed
Swift Ceramic Pvt Ltd                   BG Fac                ICRA A4      7.5     Assigned
Telawne Power Equipments Pvt            NFBL                  ICRA A4      60      Reaffirmed
Ltd
The Malt Company (India) Pvt            ST –Non-FBL           ICRA A4      26      Reaffirmed
Ltd
The Malt Company (India) Pvt            Unallocated limits    ICRA A4      26.5    Reaffirmed
Ltd
Green Polytubes Pvt Ltd                 Non fund based -Bk    ICRA A4      4       Reaffirmed
                                        Gaurantee


LONG TERM RATINGS:
-------------------
24/7 Customer Pvt Ltd                   LT Non Fund           ICRA A-      20      Assigned
                                        Based–LC/BG
24/7 Customer Pvt Ltd                   LT Non Fund Based –BG ICRA A-      300     Assigned
24/7 Customer Pvt Ltd                   LT Non Fund Based–LER ICRA A-      580     Assigned
Abir Infrastructure Pvt Ltd             BLR                   ICRA D       3363.6  Issuer not
                                                                                   cooperating
Annapoorani Yarns                       LT CC                 ICRA B+      79      Reaffirmed
Annapoorani Yarns                       TL                    ICRA B+      33.9    Reaffirmed
Annapoorani Yarns                       Unallocated           ICRA B+ /A4  7.1     Reaffirmed
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA A+ (SO)         Upgraded
- Augustus Ifmr Capital 2016                                                       from ICRA
                                                                                   BBB+(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A2         ICRA BBB             Upgraded
- Augustus Ifmr Capital 2016                                  (SO)                 from ICRA
                                                                                   BBB-(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A2         ICRA A- (SO)         Upgraded
- Claudius Ifmr Capital 2016                                                       from ICRA
                                                                                   BBB+(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA AA-             Upgraded
- Claudius Ifmr Capital 2016                                  (SO)                 from ICRA
                                                                                   A(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A2         ICRA A- (SO)         Upgraded
- Hysminai Ifmr Capital 2015                                                       from ICRA
                                                                                   BBB+(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA AA (SO)         Upgraded
- Hysminai Ifmr Capital 2015                                                       from ICRA
                                                                                   A+(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A2         ICRA A- (SO)         Upgraded
- Mori Ifmr Capital 2016                                                           from ICRA
                                                                                   BBB(SO)
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA AA (SO)         Upgraded
- Mori Ifmr Capital 2016                                                           from ICRA
                                                                                   A(SO)
Artefact Projects Ltd                   FBL                   ICRA D       180     Withdrawn
Artefact Projects Ltd                   NFBL                  ICRA D       50      Withdrawn
Bharat Containers (Nagpur) Pvt          CC                    ICRA BBB+    80      Issuer
Ltd                                                                                delayed in
                                                                                   giving
information
Bharat Containers (Nagpur) Pvt          TL                    ICRA BBB+    60      Issuer
Ltd                                                                                delayed in
                                                                                   giving
information
Bharat Silks                            LT FBL                ICRA BB-     100     Issuer not
                                                                                   cooperating
Boi Axa Investment Managers             BOI AXA Liquid Fund   ICRA AAAmfs          Reaffirmed
Pvt Ltd
Boi Axa Investment Managers             BOI AXA Capital       ICRA AAAmfs          Reaffirmed
Pvt Ltd                                 Protection Oriented   (SO)
                                        Fund -Series 2
Boi Axa Investment Managers             BOI AXA Capital       ICRA AAAmfs          Reaffirmed
Pvt Ltd                                 Protection Oriented   (SO)
                                        Fund -Series 3
Boi Axa Investment Managers             BOI AXA Capital       ICRA AAAmfs          Reaffirmed
Pvt Ltd                                 Protection Oriented   (SO)
                                        Fund -Series 4
Boi Axa Investment Managers             BOI AXA Capital       ICRA AAAmfs          Reaffirmed
Pvt Ltd                                 Protection Oriented   (SO)
                                        Fund -Series 5
Chadha Sugars & Industries Ltd          TL                    ICRA B       1683.3  Reaffirmed
Chadha Sugars & Industries Ltd          FBL                   ICRA B       1098    Reaffirmed
Chadha Sugars & Industries Ltd          LT Unallocated        ICRA B       404.6   Reaffirmed
Geetha Timbers                          LT Fund based CC      ICRA B+      5       Issuer not
                                                                                   cooperating
Jainam Cables (India) Pvt Ltd           CC                    ICRA B+      100     Review
                                                                                   Process is
                                                                                   Underway
Jainam Cables (India) Pvt Ltd           TL                    ICRA B+      4.5     Review
                                                                                   Process is
                                                                                   Underway
M.K. Aggarwal Hosiery (P) Ltd           Fund Based Fac        ICRA B+      152.7   Issuer not
                                                                                   cooperating
M.K. Aggarwal Hosiery (P) Ltd           Non Fund based fac    ICRA B+      5       Issuer not
                                                                                   cooperating
M.K. Aggarwal Hosiery (P) Ltd           Unallocated (Proposed)ICRA B+      42.3    Issuer not
                                                                                   cooperating
Metro Dairy Ltd                         Issuer Rating         IrA-/ IrA2+
Put on 12 months notice of withdrawal
Neev Technocast Pvt Ltd                 CC                    ICRA D       6       Withdrawn
Neev Technocast Pvt Ltd                 Project LOC           ICRA D       52.5    Withdrawn
Neev Technocast Pvt Ltd                 TL                    ICRA D               Withdrawn
New Vardhman Vitrified Pvt Ltd          CC                    ICRA B       150     Review
                                                                                   Process is
                                                                                   Underway
New Vardhman Vitrified Pvt Ltd          TL                    ICRA B       414.8   Review
                                                                                   Process is
                                                                                   Underway
New Vardhman Vitrified Pvt Ltd          Unallocated Limits    ICRA B /A4   215.2   Review
                                                                                   Process is
                                                                                   Underway
Nimra Educational Society               BLR                   ICRA D       390     Issuer not
                                                                                   cooperating
Pearl Engineering Company               LT Fund based CC      ICRA BB      80      Issuer not
                                                                                   cooperating
Pearl Engineering Company               LT Fund based TL      ICRA BB      36.1    Issuer not
                                                                                   cooperating
Pearl Engineering Company               LT Fund Unallocated   ICRA BB      108.9   Issuer not
                                                                                   cooperating
Pibco Enterprises Pvt Ltd               Bk Fac                ICRA BB-     60      Issuer not
                                                                                   cooperating
Platinium Tie-Up Pvt Ltd                CC                    ICRA BB      85      Reaffirmed
Platinium Tie-Up Pvt Ltd                TL                    ICRA BB      188     Reaffirmed
Prince Properties                       LT Fund based         ICRA B+      200     Issuer not
                                                                                   cooperating
R J Buildcon Pvt Ltd                    Bk Overdraft          ICRA B       40      Issuer
                                                                                   delayed in
                                                                                   giving
information
R J Buildcon Pvt Ltd                    TL                    ICRA B       40      Issuer
                                                                                   delayed in
                                                                                   giving
information
Rohini Industrial Electricals           BLR                   ICRA AA      2150    Review
Ltd                                                           (SO) / A1+           Process is
                                                              (SO)                 Underway
Sagar Nutriments Pvt Ltd                Fund Based Fac        ICRA B+      538.7   Issuer not
                                                                                   cooperating
Sagar Nutriments Pvt Ltd                Non Fund based fac    ICRA B+              Issuer not
                                                                                   cooperating
Sagar Nutriments Pvt Ltd                Unallocated (Proposed)ICRA B+      1.3     Issuer not
                                                                                   cooperating
Saisudhir Infrastructures Ltd           BLR                   ICRA D       1611    Issuer not
                                                                                   cooperating
Sarvodaya Polymers Pvt Ltd              Fund based CC         ICRA B       80      Issuer not
                                                                                   cooperating
Sarvodaya Polymers Pvt Ltd              FBL TL                ICRA B       50      Issuer not
                                                                                   cooperating
Sathyanarayana Agro Industries          LT Fund based Fac     ICRA B+      60      Reaffirmed
Shree Radhekrushna Ginning And          BLR                   ICRA B       135.2   Issuer not
Pressing Pvt Ltd                                                                   cooperating
Shri Ganesh Veg Oil Products            CC                    ICRA BB-     60      Revised from
Pvt Ltd                                                                            ICRABB
Shri Ganesh Veg Oil Products            Unallocated           ICRA BB-     40      Revised from
Pvt Ltd                                                                            ICRABB
Silvertoan Papers Ltd                   LT fund based         ICRA BBB-    471.2   Reaffirmed
Sri Durga Enterprises                   LT FBL                ICRA B+      250     Issuer
                                                                                   delayed in
                                                                                   giving
information
Sri Koduri Enterprises Pvt Ltd          LT FBL                ICRA B       170     Issuer
                                                                                   delayed in
                                                                                   giving
information
Sri Koduri Enterprises Pvt Ltd          LT NFBL               ICRA B       5       Issuer
                                                                                   delayed in
                                                                                   giving
information
Sri Koduri Enterprises Pvt Ltd          Unallocated Limits    ICRA B       25      Issuer
                                                                                   delayed in
                                                                                   giving
information
Sri Rama Educational Trust              BLR                   ICRA B-      270     Issuer not
                                                                                   cooperating
Sultanpure Textile Mills Pvt            FB –CC                ICRA BB-     95      Withdrawn
Ltd
Swift Ceramic Pvt Ltd                   CC Limit              ICRA B+      35      Assigned
Swift Ceramic Pvt Ltd                   TL Fac                ICRA B+      19.5    Assigned
Telawne Power Equipments Pvt            FBL                   ICRA B+      67      Reaffirmed
Ltd
Telawne Power Equipments Pvt            Unallocated Limits    ICRA B+ /A4  23      Reaffirmed
Ltd
The Malt Company (India) Pvt            LT –FB limits         ICRA B+      197.5   Reaffirmed
Ltd
Vardhman Vitrified Pvt Ltd              CC                    ICRA D       60      Issuer not
                                                                                   cooperating
Vardhman Vitrified Pvt Ltd              BG                    ICRA D       30      Issuer not
                                                                                   cooperating
Vardhman Vitrified Pvt Ltd              Unallocated Limits    ICRA D       64.5    Issuer not
                                                                                   cooperating
Ned Energy Ltd                          ST - Non fund based   ICRA A1+     380     Assigned
                                                              (SO)
Divya Construction Company              FBL                   ICRA B-      60      Reaffirmed
Divya Construction Company              NFBL                  ICRA B-      140     Reaffirmed
Green Polytubes Pvt Ltd                 FBL                   ICRA B       40      Reaffirmed
Green Polytubes Pvt Ltd                 Fund based - SLC      ICRA B       6       Reaffirmed
Green Polytubes Pvt Ltd                 Fund based - TL       ICRA B       18      Reaffirmed
Jain Steel Industries                   FBL                   ICRA B       60      Reaffirmed
Jain Steel Industries                   Unallocated limits    ICRA B       40      Reaffirmed
Msr Infraa                              LT -Fund based        ICRA B       200     Withdrawn
Natraj Industries                       CC                    ICRA B+      130     Upgraded
                                                                                   from ICRA B
enhanced from 12.00 CR
Ned Energy Ltd                          LT Fund based - CC    ICRA A+ (SO) 520     Assigned
Ned Energy Ltd                          LT Fund based - TL    ICRA A+ (SO) 25.2    Assigned
Thriveni Car Company Pvt Ltd            LT: TL                ICRA BB      60      Upgraded
                                                                                   from ICRA BB-
Thriveni Car Company Pvt Ltd            LT: CC                ICRA BB      190.7   Upgraded
                                                                                   from ICRA BB-
Thriveni Car Company Pvt Ltd            LT: Fund based Fac    ICRA BB      35      Upgraded
                                                                                   from ICRA BB-
Thriveni Car Company Pvt Ltd            LT: Unallocated Fac   ICRA BB      5       Upgraded
                                                                                   from ICRA BB-


--------------------------------------------------------------------------------------------
$: 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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