June 21, 2017 / 10:46 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jun 21

15 Min Read

 (Repeating to add more Ratings.)
    Jun 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 20, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Angre Port Pvt Ltd                      NFBL**                ICRA A2+(SO) 1000    Reaffirmed
*sub-limit of term loan facility, to be rated on short-term scale
Iifl Real Estate Ltd                    PO financing programmeICRA A1+     20000   Assigned
Iifl Real Estate Ltd                    hort Term debt        ICRA A1+     7000    Outstanding
                                        programme
India Infoline Finance Ltd              IPO financing         ICRA A1+     120000  Assigned
                                        programme
India Infoline Finance Ltd              ST debt programme     ICRA A1+     70000   Outstanding
Karnataka Power Corporation Ltd         STL                   ICRA A3      110000  Reaffirmed
(enhanced from10000 CR)
Marya Frozen Agro Foods Pvt Ltd         NFBL                  ICRA A3      9       Assigned
Relaxo Footwears Ltd                    NFB                   ICRA A1+     1200    Reaffirmed
Relaxo Footwears Ltd                    CP                    ICRA A1+     500     Reaffirmed
Rinac India Ltd                         ST NFBF               ICRA A3+     300     Upgraded
                                                                                   from ICRA A3
Rushil Industries Ltd                   LOC                   ICRA A4+     380     Upgraded
                                                                                   from ICRA A4
Triune Energy Services Pvt Ltd          NFBL                  ICRA A4      100     Reaffirmed
Vijay Sabre Safety Pvt Ltd              ST Non-Fund Based     ICRA C       89.8    Reaffirmed
Angre Port Pvt Ltd                      Non FB limits         ICRA]A2+(SO)         Reaffirmed
M&G Impex (I) Pvt Ltd                   ST –FB                ICRA A4+     38.5    Reaffirmed
Marya Frozen Agro Foods Pvt Ltd         Non FB limits         ICRA A3      9       Assigned
Premier Seafoods Exim Pvt. Ltd          ST FB Fac             ICRA A4+     105     Reaffirmed
Sanoor Cashews                          ST –FB                ICRA A4      50      Reaffirmed


LONG TERM RATINGS:
-------------------
Aditya Birla Nuvo Ltd                   NCD                   ICRA AA+     7000    Reaffirmed
Aditya Birla Nuvo Ltd                   NCD                   ICRA AA+     8000    Reaffirmed
Aditya Birla Nuvo Ltd                   TL                    ICRA AA+     1000    Reaffirmed
(revised from 500.00 CR)
Aditya Birla Nuvo Ltd                   LT, FBL               ICRA AA+     12500   Reaffirmed
Aditya Birla Nuvo Ltd                   LT / ST, non-FBL      ICRA AA+     15000   Reaffirmed
Aditya Birla Nuvo Ltd                   CP                    ICRA AA+     17500   Reaffirmed
Andhra Sinter Ltd                       FB-CC                 ICRA B+      9       Reaffirmed
Andhra Sinter Ltd                       Unallocated           ICRA B+ /    191     Reaffirmed
                                                              ICRA A4
Angre Port Pvt Ltd                      TL                    ICRA A-(SO)  1750    Reaffirmed
Bal Pharma Ltd                          Bal Pharma Limited    ICRA BBB /   950.2   Reason for
                                                              ICRA A3+             delay in
                                                                                   carrying out
                                                                                   periodic
                                                                                   review
Ballari City Corporation                Issuer Rating         IrBBB        -       Assigned
Govardhan Ispat (India) Pvt Ltd         FB –TL                ICRA B+      117.9   Reaffirmed
Govardhan Ispat (India) Pvt Ltd         FB –Cash Credi        ICRA B+      84.6    Reaffirmed
Iifl Real Estate Ltd                    Unsecured debt        ICRA AA      500     Outstanding
                                        programme
Iifl Real Estate Ltd                    LT debt programme     ICRA AA      7000    Outstanding
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      10000   Outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Karnataka Power Corporation Ltd         Long-TL               ICRA BBB-    54000   Reaffirmed
Karnataka Power Corporation Ltd         FBL                   ICRA BBB-    1500    Reaffirmed
Karnataka Power Corporation Ltd         NFBL                  ICRA BBB-    1000    Reaffirmed
Mahalaxmi Associates Pvtltd             Bk facilitie          ICRA B+ /    160     Reason for
                                                              ICRA A4              delay in
                                                                                   carrying out
                                                                                   periodic
                                                                                   review
Issuer not cooperating
Mahalaxmi India Pvtltd                  Bk facilitie          ICRA B+ /    160     Reason for
                                                              ICRA A4              delay in
                                                                                   carrying out
                                                                                   periodic
                                                                                   review
Issuer not cooperating
Marya Frozen Agro Foods Pvt Ltd         FBL                   ICRA BBB-    471     Assigned
Nirmal Traders                          Nirmal Traders        ICRA B+ /    100     Reason for
                                                                                   carrying out
                                                                                   periodic
                                                                                   review
Radius Water Ltd                        Bk facilitie          ICRA BB+ /   260     Reason for
                                                              ICRA A4+             delay in
                                                                                   carrying out
                                                                                   periodic
                                                                                   review
Issuer not cooperating
Relaxo Footwears Ltd                    FB TL                 ICRA A+      1016.7  Reaffirmed
(earlier136.00 CR)
Relaxo Footwears Ltd                    FB CC                 ICRA A+      1000    Reaffirmed
Rinac India Ltd                         LT FB CC              ICRA BBB     100     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Rushil Industries Ltd                   CC                    ICRA BB      10      Upgraded
                                                                                   from ICRA BB-
S.S. Cotton Industries Pvt Ltd          FB CC                 ICRA B+      185     Reaffirmed
S.S. Cotton Industries Pvt Ltd          Unallocated           ICRA B+      15      Reaffirmed
Shree Ram Cottex Industries             FB –CC#               ICRA B       300     Reaffirmed
Pvt Ltd (Erstwhile Shree Ram
Cotton Industries)
Issuer did not co-operate; based on best available information
Shrem Resort Pvt Ltd                    TL                    ICRA BBB     1000    @
Sri Lakshmi Janardhan Rice              FBL                   ICRA BB-     95      Reaffirmed
Industries
(enhanced from 7.25 CR)
Sri Lakshmi Janardhan Rice              Unallocated Limits    ICRA BB-     5       Reaffirmed
Industries
(reduced from 2.75 CR)
Srinagar Banihal Expressway Ltd         LT fund basedFac      ICRA D       14400   Reaffirmed
Ssv Technocrates                        FB –CC                ICRA B+      104.5   Reaffirmed
Ssv Technocrates                        Unallocated Limits    ICRA B+ /    20.8    Reaffirmed
                                                              ICRA A4
Triune Energy Services Pvt Ltd          FBL                   ICRA BB-     10      Reaffirmed
Uco Bank                                Upper Tier II         ICRA A-      5000    Downgraded
                                        Bonds–Basel I                              from       A
Uco Bank                                Lower Tier II         ICRA A+      8000    Downgraded
                                        Bonds–Basel II                             from
                                                                                         AA-
Vijay Sabre Safety Pvt Ltd              LT FBL                ICRA C       109     Reaffirmed
Angre Port Pvt Ltd                      TL                    ICRA]A-(SO)  1750    Reaffirmed
Hero Mindmine Institute Pvt Ltd         LT: FB Limits         ICRA BBB     50      Reaffirmed
Hero Mindmine Institute Pvt Ltd         LT/ST : InterchangableICRA BBB /           Reaffirmed
                                                              ICRA A3+
M&G Impex (I) Pvt Ltd                   TL                    ICRA BB+     14      Reaffirmed
M&G Impex (I) Pvt Ltd                   LT –FB                ICRA BB+     337.5   Reaffirmed
Marya Frozen Agro Foods Pvt Ltd         FB limits             ICRA BBB-    471     Assigned
Nspr Constructions (India) Pvt          Unallocated Limits    -            -       -
Ltd
Nspr Constructions (India) Pvt          FB –CC                ICRA BBB     85      Assigned
Ltd
Nspr Constructions (India) Pvt          NFBL                  ICRA BBB /   565     Assigned
Ltd                                                           ICRA A3+
Rainbow Children Medicare Pvt           Proposed Bk limits    ICRA A/A2+   500     Withdrawn
Ltd
Rana Sugars Ltd                         FBL                   ICRA D       6070.7  Reaffirmed
Rana Sugars Ltd                         Unallocated Limits    ICRA D       811.3   Reaffirmed
Rana Sugars Ltd                         NFBL                  ICRA D       318     Reaffirmed
Saisrushti Builders Pvt Ltd             NCD                   ICRA BB+     899     Reaffirmed
Sanoor Cashews                          LT –FB                ICRA B+      20      Reaffirmed
Sri Janardhan Raw And Boiled            FB limits             ICRA BB-     90      Reaffirmed
Rice Mill
Sri Janardhan Raw And Boiled            FBL                   ICRA BB-     90      Reaffirmed
Rice Mill
Sri Janardhan Raw And Boiled            Unallocated Limits    ICRA BB-     30      Reaffirmed
Rice Mill                                                     /ICRA A4
Sri Janardhan Raw And Boiled            Unallocated Limits    ICRA         30      Reaffirmed
Rice Mill                                                     BB-/ICRA A4
Thiru Margadarshi                       LT-Over Draft         ICRA BB-     40      Reaffirmed
Constructions Pvt. Ltd
Thiru Margadarshi                       LT-Unallocated Limits ICRA BB-     60      Reaffirmed
Constructions Pvt. Ltd
Vizianagaram Municipality               Issuer Rating         IrBBB                Assigned
Vizianagaram Municipality               Issuer Rating         IrBBB        -       Assigned
--------------------------------------------------------------------------------------------
$: 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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