June 19, 2017 / 10:12 AM / a month ago

ICRA ratings for Indian debt instruments-Jun 19

17 Min Read

    Jun 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 16, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Avadh Cotex Pvt Ltd                     ST FB Limits          ICRA A4      15      Reaffirmed
Cholamandalam Investment And            CP                    ICRA A1+     50000   Outstanding
Finance Co. Ltd
Hira Electro Smelters Ltd               Non-FB Bk Fac (LOC    ICRA A4      105     Reassigned
                                        and Forward contract)                      from ICRA
                                                                                   A4(SO)
(increased from 10.47 earlier)
Infotel Business Solutions Ltd          NFBL                  ICRA A4      75      Reaffirmed
New Vardhman Vitrified Pvt Ltd          NFB BG                ICRA A4      67.5    Reaffirmed
Pcs Technology Ltd                      NFBL                  ICRA A4+     40      Withdrawn
Shakumbhri Pulp & Paper Mills           ST NFB                ICRA A4      20      Reaffirmed
Ltd
Sln Cnc Tech Pvt. Ltd.                  FB Packing Credit     ICRA A4      10      Reaffirmed
Sln Cnc Tech Pvt. Ltd.                  NFB                   ICRA A4      7.5     Reaffirmed
South India Paper Mills Ltd             ST non-FBL            ICRA A2+     250     @

LONG TERM RATINGS:
-------------------
Anand Cranks                            CC                    ICRA B+      70      Issuer not
                                                                                   cooperating
Anand Cranks                            TL                    ICRA B+      10      Issuer not
                                                                                   cooperating
Anand Cranks                            Unallocated           ICRA B+ /    20      Issuer not
                                                              ICRA A4              cooperating
Avadh Cotex Pvt Ltd                     LT FB Limits          ICRA B+      150     Reaffirmed
Avadh Cotex Pvt Ltd                     Unallocated Limit     ICRA B+ /    4.5     Reaffirmed
                                                              ICRA A4
Bangalore International                 TL                    ICRA A+      14757.3 Withdrawn
Airport Ltd
Bangalore International                 CCL                   ICRA A+      500     Withdrawn
Airport Ltd
Bangalore International                 Unallocated Limits    ICRA A+      13992.7 Withdrawn
Airport Ltd
Bangalore International                 TL                    ICRA AA-     18137.4 Assigned
Airport Ltd
Bangalore International                 CCL                   ICRA AA-     500     Assigned
Airport Ltd
Bhagabati Build &                       Bk Fac                ICRA B /     103.5   Issuer not
Constructions Pvt Ltd                                         ICRA A4              cooperating
Buds Tea Industries Ltd                 Bk Fac                ICRA D       272.5   Issuer not
                                                                                   cooperating
Centwin Textile Mills Pvt Ltd           FB CC                 ICRA BB-     150     Assigned
Cholamandalam Investment And            Subordinated Debt     ICRA AA      5000    Assigned
Finance Co. Ltd
Cholamandalam Investment And            LT Loans from Bks     ICRA AA      66183.3 Outstanding
Finance Co. Ltd
Cholamandalam Investment And            NCDs@                 ICRA AA      142264  Outstanding
Finance Co. Ltd
Outstanding as on February 16, 2017
Cholamandalam Investment And            Subordinated Debt@    ICRA AA      17950   Outstanding
Finance Co. Ltd
Outstanding as on February 16, 2017
Cholamandalam Investment And            Sublimit -Non-FBL     ICRA AA      1000    Outstanding
Finance Co. Ltd                         from Bks
Cholamandalam Investment And            Perpetual Debt        ICRA AA-     13300   Outstanding
Finance Co. Ltd                         Instruments
Cholamandalam Investment And            FB Fac from Bks#      ICRA AA /    40000   Outstanding
Finance Co. Ltd                                               ICRA A1+
#Rs. 4,000.00 crore fund based limits are interchangeable between cash credit and short term
working capital facilities, subject to total utilisation not exceeding Rs. 4,000.00 crore.
Dali & Samir Engineering Pvt            optionally            ICRA BB+     200     Review under
Ltd                                     convertible debenture                      process
Dali & Samir Engineering Pvt            TL                    ICRA BB+     15      Review under
Ltd                                                                                process
Dali & Samir Engineering Pvt            Unassigned            ICRA BB+     45      Review under
Ltd                                                                                process
Fortune’S Sparsh Healthcare             LT FBL - TL           ICRA B       75      Issuer not
Pvt Ltd                                                                            cooperating
Highco Engineers Pvt Ltd                BK FAC                ICRA BBB-    170     Issuer not
                                                                                   cooperating
Hira Electro Smelters Ltd               Unallocated Bk Fac    -            -       -
(reduced from 5.71 earlier)
Hira Electro Smelters Ltd               FB Bk Fac –TL         ICRA BB      56.8    Reassigned
                                                                                   from ICRA
                                                                                   BB(SO)
Hira Electro Smelters Ltd               FB Bk Fac –CC         ICRA BB      80      Reassigned
                                                                                   from ICRA
                                                                                   BB(SO)
Kolar City Municipal Council            Issuer Rating         IrBB         -       Assigned
Krishnaveni Seeds And                   FBF                   ICRA BB- /A4 50      Issuer
Fertilizers                                                                        delayed in
                                                                                   Giving
                                                                                   information
Krishnaveni Seeds And                   NFBF                  ICRA BB- /A4 1.1     Issuer
Fertilizers                                                                        delayed in
                                                                                   Giving
                                                                                   information
Lb Cotton Industries Llp                Bk Loans              ICRA D       100     Issuer not
                                                                                   cooperating
Maithri Developers                      Long Term-Fund        ICRA B-      300     Issuer not
                                        Based-Proposed TL                          cooperating
Mandar Roller Flour Mills Pvt           LT FBL - CC           ICRA B /     15      Issuer not
Ltd                                                           ICRA A4              cooperating
Mandar Roller Flour Mills Pvt           ST non fund based     ICRA B /     115     Issuer not
Ltd                                                           ICRA A4              cooperating
Merlin Buildcon (Gujarat) Llp           Bk Fac                ICRA BBB+    100     Issuer not
                                                              (SO)                 cooperating
Merlin Projects Ltd                     Bk Fac                ICRA BBB+    500     Issuer not
                                                                                   cooperating
Miraya Realty Pvt Ltd                   NCD                   ICRA BB      375     Review
                                                                                   process is
                                                                                   underway
Nalari Ferro Alloys Pvt Ltd             Bk Fac                ICRA B+ /    170     Issuer not
                                                              ICRA A4              cooperating
New Vardhman Vitrified Pvt Ltd          FB CC                 ICRA B       150     Reaffirmed
New Vardhman Vitrified Pvt Ltd          FB TL                 ICRA B       198.2   Reaffirmed
New Vardhman Vitrified Pvt Ltd          Unallocated           ICRA B /     431.8   Reaffirmed
                                                              ICRA A4
Nitesh Estates Ltd                      Long Term-Fund        ICRA D       75      Issuer
                                        Based-TL                                   delayed in
                                                                                   Giving
                                                                                   information
Nitesh Estates Ltd                      LT-Fund Based-OverdrafICRA D       250     Issuer
                                                                                   delayed in
                                                                                   giving
                                                                                   information
Paedia Health Pvt. Ltd.                 Bk Fac                ICRA B-      175     Issuer not
                                                                                   cooperating
Pcs Technology Ltd                      FBL-CC                ICRA BB+     100     Withdrawn
Power Mech Projects Ltd                 LT FB limits          ICRA A-      2100    Reaffirmed
Power Mech Projects Ltd                 LT/ST Non-FBL         ICRA A- /    7380    Reaffirmed
                                                              ICRA A2+
Power Mech Projects Ltd                 Proposed LT/ST        ICRA A- /    1620    Reaffirmed
                                        Non-FBL               ICRA A2+
Rajda Sales (Calcutta) Pvt Ltd          Bk Fac                ICRA B+ /    185     Issuer
                                                              ICRA A4              delayed in
                                                                                   Giving
                                                                                   information
Ram Foods Products Pvt Ltd              Bk Loan Rating        ICRA BB-     90      Issuer
                                                                                   delayed in
                                                                                   giving
                                                                                   information
Samhita Builders Pvt Ltd                Long Term-Fund        ICRA B       200     Issuer not
                                        Based-Proposed TL                          cooperating
Shakumbhri Pulp & Paper Mills           LTFB                  ICRA B+      61      Reaffirmed
Ltd
Shiv Sai Metal Products Pvt             Bk Fac                ICRA B+      120     Issuer not
Ltd                                                                                cooperating
Shree Gurudutta Shikshan                FB CC                 ICRA BB      10      Reaffirmed
Sanstha
Shree Gurudutta Shikshan                FB TL                 ICRA BB      50      Reaffirmed
Sanstha
Shri Hare Krishna Sponge Iron           Bk Fac                ICRA B /     135     Issuer not
Ltd                                                           ICRA A4              cooperating
Silvertones Speciality Textile          LTFB                  ICRA B+      200     Reaffirmed
Pvt Ltd
Silvertones Speciality Textile          LT/ST NFB             ICRA B+ /    120     Reaffirmed
Pvt Ltd                                                       ICRA A4
Sln Cnc Tech Pvt. Ltd.                  FB CC                 ICRA B+      45      Reaffirmed
Sln Cnc Tech Pvt. Ltd.                  FB TL                 ICRA B+      11.6    Reaffirmed
Sln Cnc Tech Pvt. Ltd.                  Unallocated FB/NFB    ICRA B+ /    25.9    Reaffirmed
                                                              ICRA A4
Sociedade De Fomento                    Issuer Rating         IrA-         -       Issuer
Industrial Pvt Ltd                                                                 delayed in
                                                                                   giving
information
South India Paper Mills Ltd             TL                    ICRA A-      480     @
South India Paper Mills Ltd             FBL                   ICRA A-      300     @
South India Paper Mills Ltd             Unallocated Limit     ICRA A-      70      @
Woodhill Infrastructure Ltd             LT: FBL               ICRA BB+     630     Reaffirmed
(revised from 65.0 CR)
Woodhill Infrastructure Ltd             LT/ ST NFBL           ICRA BB+ /   1220    Reaffirmed
                                                              ICRA A4+
Woodhill Infrastructure Ltd             LT/ST Fac             ICRA BB+ /   20      Reaffirmed
                                        (unallocated)         ICRA A4+
Yashashree Tubes Pvt Ltd                Bk Loan Rating        ICRA D       97      Issuer
                                                                                   delayed in
                                                                                   giving
information
York Print Pvt Ltd                      Bk Fac                ICRA BBB- /  370     Issuer not
                                                              ICRA A3              cooperating
--------------------------------------------------------------------------------------------
$: 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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