June 22, 2017 / 10:28 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Jun 22

 (Repeating to add more Ratings)
    Jun 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 21, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Abhitex International                   FB Bk Fac –Standby    ICRA A2+     159.7   Upgraded
                                        Line of Credit                             from ICRA A2
Abhitex International                   Non FB Bk Fac –(BG    ICRA A2+     41.4    Upgraded
                                        and Credit Exposure                        from ICRA A2
                                        Limit)
Bikaji Foods International Ltd          Non FB Limits         ICRA A1      140     Assigned
Naari Pharma Pvt Ltd                    Non Fund              ICRA A2      100     Assigned
                                        based-Letter of       (SO)&
                                        Credit / BG
Secure Industries Pvt Ltd               ST Interchangeable    ICRA A4              Upgraded
                                        Limits                                     from ICRA D
Spartan Engineering Industries          Non FB Limits         ICRA A4      140     Assigned
Pvt Ltd
Spartan Engineering Industries          Unallocated Limits    ICRA A4      0.2     Assigned
Pvt Ltd
Abhitex International                   FB Bk Fac –Standby    ICRA A2+     159.7   Upgraded
                                        Line of Credit                             from ICRA A2
Abhitex International                   Non FB Bk Fac –(BG    ICRA A2+     41.1    Upgraded
                                        and Credit Exposure                        from ICRA A2
                                        Limit)
Axis bank ltd                           Certificatesof        ICRA A1+     -       Outstanding
                                        Deposit Programme
Axis bank ltd                           Certificatesof        ICRA A1+     -       Outstanding
                                        Deposit Programme
Bhatia & Company                        ST-Non Fund Based     ICRA A4+     120     -
Chw Forge Pvt Ltd                       CP/ST Debt            ICRA A2+     400     Revised from
                                                                                   ICRA A1
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     80000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Ecl Finance Ltd                         ST Principal          PP-MLDICRA   9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     55000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Commodities Services          CommercialPaper       ICRA A1+     30000   withdrawn
Ltd                                     Programme (IPO
                                        financing)
Edelweiss Commodities Services          ST Principal          PP-MLDICRA   5000    Outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Custodial Services            ST Non-Fund Based Bk  ICRA A1+     20000   Outstanding
Ltd                                     Lines
(enhanced from 1,500crs)
Edelweiss Finance And                   CP Programme(IPO      ICRA A1+     25000   Assigned
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
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     90000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme          ICRA A1+     50000   Outstanding
Ltd
Edelweiss Financial Services            ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Financial Services            CP Programme(IPO      ICRA A1+     20000   withdrawn
Ltd                                     financing)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     40000   Outstanding
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     25000   Outstanding
                                        financing)
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
Iifl Wealth Management Ltd              ST Debt programme     ICRA A1+     5000    Outstanding
Jagajampi Auto Pvt Ltd                  ST –Non-fund based    ICRA A4+     10      withdrawn
Jayaraj Fortune Packaging Pvt           Non FB –LOC           ICRA A4      50      Reaffirmed
Ltd
Madhucon Projects Ltd                   ST-Non Fund based     ICRA D       802     Reaffirmed
(reduced from 71.17crs)
Naari Pharma Pvt Ltd                    Non Fund based        ICRA A2+ &   100     Assigned#
                                        Letter of Credit /    (SO)                 
                                        BG                                         
LONG TERM RATINGS:
-------------------
Abhitex International                   FB Bk Fac –TL         ICRA A-      125.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Abhitex International                   FB Bk Fac - CC        ICRA A-      798.6   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Abhitex International                   Unallocated Bk Fac    ICRA A-      65.1    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Ashiana Housing Ltd                     FB Limits             ICRA A       500     Upgraded
                                                                                   from ICRA A-
Bikaji Foods International Ltd          CC                    ICRA A       590     Reaffirmed
Bikaji Foods International Ltd          TL                    ICRA A       765.1   Reaffirmed
Bikaji Foods International Ltd          Unallocated Limits    ICRA A       4.9     Reaffirmed
Grand View Estates Pvt Ltd              NCDs                  ICRA AA(SO)  1500    Assigned
Grand View Estates Pvt Ltd              NCDs                  ICRA AA(SO)  1050    Outstanding
Grand View Estates Pvt Ltd              NCDs                  ICRA AA(SO)  1600    Outstanding
Grand View Estates Pvt Ltd              NCDs                  ICRA AA(SO)  1500    Outstanding
L&T Metro Rail (Hyderabad) Ltd          NCD                   ICRA AAA(SO) 7500    Final Rating
Naari Pharma Pvt Ltd                    Fund Based - TL       ICRA BBB+    878     Assigned
                                                              (SO)&
Naari Pharma Pvt Ltd                    Fund Based - CC       ICRA BBB+    200     Assigned
                                                              (SO)&
Rmz Infratech Pvt Ltd                   Bond Programme        ICRA A+(SO)  5500    Final Rating
Secure Industries Pvt Ltd               LT FB Limit           ICRA B       180     Upgraded
                                                                                   from ICRA D
Secure Industries Pvt Ltd               LT Loans              ICRA B       129.5   Upgraded
                                                                                   from ICRA D
Secure Industries Pvt Ltd               LT Interchangeable    ICRA B               Upgraded
                                        Limits                                     from ICRA D
Secure Industries Pvt Ltd               Unallocated Limits    ICRA B       10.5    Upgraded
                                                                                   from ICRA D
Spartan Engineering Industries          FBL                   ICRA B+      294.8   Assigned
Pvt Ltd
Abhitex International                   FB Bk Fac –TL         ICRA A-      125.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Abhitex International                   FB Bk Fac –CC         ICRA A-      798.6   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Abhitex International                   Unallocated Bk Fac    ICRA A-      65.1    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Atc Telecom Infrastructure Pvt          Bk Limits             ICRA A       89368.9 -
Ltd                                                           /ICRA A1
Axis bank ltd                           Basel III Complaint   ICRA         -       Assigned
                                        Tier I Bonds ProgrammeAA+(hyb)
Axis bank ltd                           Basel III Complaint   ICRA         -       Outstanding
                                        Tier I Bonds ProgrammeAA+(hyb)
Axis bank ltd                           Basel III Complaint   ICRA         -       Assigned
                                        Tier I Bonds ProgrammeAA+(hyb)
Axis bank ltd                           Basel III Complaint   ICRA         -       Outstanding
                                        Tier I Bonds ProgrammeAA+(hyb)
Axis bank ltd                           Infrastructure Bonds  ICRA AAA     -       Outstanding
                                        Programme
Axis bank ltd                           Lower Tier II Bonds   ICRA AAA     -       Outstanding
                                        Programme
Axis bank ltd                           Infrastructure Bonds  ICRA AAA     -       Outstanding
                                        Programme
Axis bank ltd                           Lower Tier II Bonds   ICRA AAA     -       Outstanding
                                        Programme
Axis bank ltd                           Basel III Complaint   ICRA         -       Outstanding
                                        Tier II Bonds         AAA(hyb)
                                        Programme
Axis bank ltd                           Basel III Complaint   ICRA         -       Outstanding
                                        Tier II Bonds         AAA(hyb)
                                        Programme
Bansidhar Agarwalla & Company           Working Capital TL    ICRA B-      15      Reaffirmed
Pvt Ltd Unit: Chinsurah Cold
Storage
Bansidhar Agarwalla & Company           Seasonal CC Credit    ICRA B-      32.5    Reaffirmed
Pvt Ltd Unit: Chinsurah Cold
Storage
Bansidhar Agarwalla & Company           Working Capital Loan  ICRA B-      8.6     Reaffirmed
Pvt Ltd Unit: Chinsurah Cold
Storage
Bansidhar Agarwalla & Company           BG                    ICRA B-      1.7     Reaffirmed
Pvt Ltd Unit: Chinsurah Cold
Storage
Bhatia & Company                        LT -TL                ICRA BB+     103.7   -
Bhatia & Company                        LT –Fund based CC     ICRA BB+     585     -
Bhatia & Company                        LT/ST Unallocated     ICRA BB+     73.7    -
                                                              /A4+
Buddha Sortexrice Industries            FB Fac                ICRA]B+      67.5    Assigned
Pvt. Ltd.
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      8500    Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA      110000  Outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   13500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      47000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
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
Edelweiss Financial Services            NCD Programme         ICRA AA      5000    Outstanding
Ltd
Ekta Trust                              FB –TL                ICRA BB-     50.8    Reaffirmed
Ekta Trust                              Unallocated           ICRA BB-     29.2    Reaffirmed
                                                              /ICRA A4
Gvs Projects Pvt Ltd                    FB limits             ICRA B+      45      Reaffirmed
Gvs Projects Pvt Ltd                    NFBL                  ICRA B+      70      Reaffirmed
Gvs Projects Pvt Ltd                    Unallocated limits    ICRA B+      35      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
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
Jagajampi Auto Pvt Ltd                  LT –FB                ICRA BB      59.3    withdrawn
Jagajampi Auto Pvt Ltd                  LT –Unallocated       ICRA BB      5.7     withdrawn
Jayaraj Fortune Packaging Pvt           FB –CC                ICRA BB-     50      Reaffirmed
Ltd
Madhucon Projects Ltd                   FB limits-CC          ICRA D       4250    Reaffirmed
Madhucon Projects Ltd                   FB limits-TL          ICRA D       520.5   Reaffirmed
(reduced from Rs.69.19crs)
Madhucon Projects Ltd                   LT-Non Fund based     ICRA D       6480    Reaffirmed
(reduced from 682.85crs)
Madhucon Projects Ltd                   LT: Unallocated LimitsICRA D       1947.5  Reaffirmed
(increased from 151.79crs)
Mohan Energy                            LT FB CC              ICRA BB+     20      Assigned
Mohan Energy                            LT Non-fund Based BG  ICRA BB+     810     Assigned
Naari Pharma Pvt Ltd                    Fund based-TL         ICRA BBB+ &  878     Assigned#
                                                              (SO)                 
Naari Pharma Pvt Ltd                    Fund based-CC         ICRA BBB+ &  200     Assigned#
                                                              (SO)                 
Ng Fertilizers & Chemicalspvt           BLR                   ICRA BB+     660     -
Ltd
Paliwal Overseas Pvt Ltd                FB Bk Fac –TL         ICRA A-      264.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
(reduced from 50.00 earlier)
Paliwal Overseas Pvt Ltd                Non FB Bk Fac –BG     ICRA A-      131.7   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Paliwal Overseas Pvt Ltd                Unallocated Bk Fac    ICRA A-      235.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Rahul Texo Print                        FB limits             ICRA BB-     95      Upgradedfrom
                                                                                   ICRA B+
(enhanced from 5.80crs)
Rocky Dhar                              Bk Fac                ICRA B /     250     -
                                                              ICRA A4
Shri Laxminarayan Chemical &            FB Fac/ CC            ICRA B-/A4   50      -
Fertilizerspvt Ltd
Shri Laxminarayan Chemical &            FB Fac/ Unallocated   ICRA B-/A4   20      -
Fertilizerspvt Ltd
Sort India Enviro Solutions Ltd         NCDs                  ICRA B+      80      Downgraded
                                                                                   from ICRA BB-
Suave Corporation(India) Pvt            Unallocated limits    ICRA B       100     Reaffirmed
Ltd
Transmission Corporation Of             Bond Programme        ICRA D       9750    -
Andhra Pradesh Ltd
--------------------------------------------------------------------------------------------
$: 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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