June 15, 2017 / 12:01 PM / 2 months ago

ICRA ratings for Indian debt instruments-Jun 15

    Jun 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 14, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Axis Bank Ltd                           Certificatesof        ICRA A1+     500000  Outstanding
                                        Deposit Programme
Bharat Aluminium Co. Ltd                CP                    ICRA A1+     12500   Assigned
Bharat Aluminium Co. Ltd                NFBF                  ICRA A1+     26500   Outstanding
Bharat Aluminium Co. Ltd                CP                    ICRA A1+     7500    Outstanding
Dynamatic Technologies Ltd              NFBL                  ICRA A2      230     Reaffirmed
Ksb Mil Controls Ltd                    ST: Non fundbased     ICRA A1+     50      Reaffirmed
                                        limits
North Eastern Electric Power            FBL –ST/LT Loan       ICRA A1+     -       Reaffirmed
Corporation Ltd
Pricol Ltd                              ST non FB Fac         ICRA A2+     730     Outstanding
Avadh Cotton                            FB –CC cum optionally ICRA B       45      Reaffirmed
Industries-Jamnagar                     convertible
                                        debentureBD#
# ODBD: Overdraft against Book Debt
Avadh Cotton                            FB TL                 ICRA B       14.3    Reaffirmed
Industries-Jamnagar

LONG TERM RATINGS:
-------------------
Axis Bank Ltd                           Basel III Complaint   ICRA         35000   Outstanding
                                        Tier I Bonds ProgrammeAA+(hyd)
Axis Bank Ltd                           Infrastructure Bonds  ICRA AAA     142050  Outstanding
                                        Programme
Axis Bank Ltd                           Lower Tier II Bonds   ICRA AAA     59250   Outstanding
                                        Programme
Axis Bank Ltd                           Basel III Complaint   ICRA         50000   Assigned
                                        Tier II Bonds         AAA(hyd)
                                        Programme
Axis Bank Ltd                           Basel III Complaint   ICRA         73500   Outstanding
                                        Tier II Bonds         AAA(hyd)
                                        Programme
Bharat Aluminium Co. Ltd                NCD                   ICRA AA-     10000   Assigned
Bharat Aluminium Co. Ltd                TL                    ICRA AA-     23500   Outstanding
reduced from Rs 2,500 crore)
Bharat Aluminium Co. Ltd                FBF                   ICRA AA-     5000    Outstanding
Cornerview Constructions And            LT –NCDs              ICRA D       1100    Revised from
Developers Pvtltd                                                                        BB-
Dhfl Pramerica Asset Managers           DHFL Pramerica Short  ICRA AA+mfs  -       Assigned
Pvt Ltd                                 Maturity Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Bking  ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 and PSU Debt Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Insta  ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 Cash Plus Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Medium ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 Term Income Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 Premier Bond Fund
Dhfl Pramerica Asset Managers           DHFLPramerica Dynamic ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 Bond Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica ST     ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 Floating Rate Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Ultra  ICRA AAAmfs  -       Outstanding
Pvt Ltd                                 ST Fund
Dynamatic Technologies Ltd              TL                    ICRA BBB+    3690    Reaffirmed
Dynamatic Technologies Ltd              Proposed Limits       ICRA BBB+    0.1     Reaffirmed
Dynamatic Technologies Ltd              FB Limits             ICRA BBB+    1450    Reaffirmed
Ksb Mil Controls Ltd                    LT: FBL               ICRA AA      100     Reaffirmed
Ksb Mil Controls Ltd                    LT: NFBL              ICRA AA      350     Reaffirmed
Mnr Cottons Ltd                         MNR Cottons Limited   ICRA BB-(SO) 258     -
North Eastern Electric Power            NCD –XIthissue        ICRA AA      400     Reaffirmed
Corporation Ltd
North Eastern Electric Power            NCD –XIIthissue       ICRA AA      1200    Reaffirmed
Corporation Ltd
North Eastern Electric Power            NCD –XIIIthissue      ICRA AA      725     Reaffirmed
Corporation Ltd
North Eastern Electric Power            NCD –XIVthissue       ICRA AA      25000   Reaffirmed
Corporation Ltd
North Eastern Electric Power            NCD –XVIthissue       ICRA AA      9000    Reaffirmed
Corporation Ltd
North Eastern Electric Power            NCD –XVIIthissue      ICRA AA      3000    Reaffirmed
Corporation Ltd
North Eastern Electric Power            ssuer Rating          ICRA AA      5000**  Assigned
Corporation Ltd
**The Rs 500 crore limits were earlier rated on short term scale, and is now rated on both long
term and short term scales attracting tenure as per usage.
Parth Cotton & Oil Industries           FBL                   ICRA C+      65      -
Pricol Ltd                              TL Fac                ICRA A-      39.17   Outstanding
Pricol Ltd                              LT FB Fac             ICRA A-      1400    Outstanding
Pricol Ltd                              LT proposed Fac       ICRA A-      228.3   Outstanding
Skm Industries                          BLR                   ICRA B+ /    160     -
                                                              ICRA A4
Sonata Finance Pvt Ltd                  Mithras IFMR Capital  ICRA A-(SO)  28.9    Reaffirmed
                                        2015 PTC Series A2
PTC  Series  A1  of  Mithras  IFMR  Capital 2015  has  been  withdrawn  in  May  2017  as  the 
payouts  to  the investors have been made and no further payment is due to the investors.
Sonata Finance Pvt Ltd                  Cimber IFMR Capital   ICRA A-(SO)  58.1    Reaffirmed
                                        2016 PTC Series A1
Sonata Finance Pvt Ltd                  Mithras IFMR Capital  ICRA B+(SO)  31.9    Downgraded
                                        2015 PTC Series A3                         from ICRA
                                                                                   BB+(SO)
Sonata Finance Pvt Ltd                  Cimber IFMR Capital   ICRA         15.5    Downgraded
                                        2016 PTC Series A2    BBB-(SO)             from ICRA
                                                                                   BBB(SO)
--------------------------------------------------------------------------------------------
$: 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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