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ICRA ratings for Indian debt instruments-Jun 27
June 27, 2017 / 8:38 AM / 2 months ago

ICRA ratings for Indian debt instruments-Jun 27

    Jun 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 23, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bloom Dekor Ltd                         Non Fund Based - LC/BGICRA A4      145     Reaffirmed
Cenosphere India Pvt Ltd                Non-fund Based        ICRA A4      5       Upgraded
                                        (ILC/FLC)/ BG                              from ICRA D
Cenosphere India Pvt Ltd                Non-fund Based Loan   ICRA A4      10      Upgraded
                                        Equivalent Risk                            from ICRA D
J Pan Tubular Components Pvt            Non FB LT             ICRA A4+     160     Revised from
Ltd                                                                                ICRA A3
Kunal Structure (India) Pvt             BG                    ICRA A3+     3650    Revised from
Ltd                                                                                ICRA A2+
Issuer not cooperating
L&T Finance Ltd                         CP (IPO financing)    ICRA A1+     90000   Assigned
L&T Housing Finance Ltd                 CP (IPO financing)    ICRA A1+     10000   Assigned
L&T Housing Finance Ltd                 CP                    ICRA A1+     5000    Outstanding
L&T Infrastructure Finance Co.          CP (IPO financing)    ICRA A1+     50000   Assigned
Ltd
L&T Infrastructure Finance Co.          CP                    ICRA A1+     5000    Outstanding
Ltd
Muthoot Vehicle And Asset               ST Bk Limits          ICRA A3+     750
Finance Ltd
Review process is underway
Phoenix Overseas Ltd                    Non Fund Based fac    ICRA A3      45      Reaffirmed
Royal Exports                           ST -Fund Based        ICRA A4+     180
Issuer not cooperating
Sarju Vitrified Pvt. Ltd                Non FBL               ICRA A4      40.3    Assigned
Shaf Broadcast Pvt Ltd                  Non FBL               ICRA A4+     245     Reaffirmed
Issuer not cooperating
Sri Maharaja Oil Imports &              Non Fund Based Fac    ICRA D       550     Downgraded
Exports India Pvt Ltd                                                              from ICRA A4
Issuer not cooperating
Sri Maharaja Industries                 Non Fund Based Fac    ICRA D       337.5   Downgraded
                                                                                   from ICRA A4
Issuer not cooperating
Sri Maharaja Refineries                 Non Fund Based Fac    ICRA D       393.8   Downgraded
                                                                                   from ICRA A4


MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd                 Medium Term FD        MAA+         1000    Outstanding
Muthoot Vehicle And Asset               FD                    MA
Finance Ltd
Review process is underway


LONG TERM RATINGS:
-------------------
Adarsh Rice Mill                        Bk Fac                ICRA BB- /A4 90
Issuer not cooperating
Apar Charitable Trust For               LT FB TL (TL)         ICRA B+      150     Reaffirmed
Education And Research
Bank Of India                           Innovative Perpetual  ICRA AA-     6550    Reaffirmed
                                        Debt Instruments
Bank Of India                           Term Deposit ProgrammeMAA+                 Reaffirmed
Bloom Dekor Ltd                         Fund Based - CC       ICRA B       180     Revised from
                                                                                   ICRA B+
Cenosphere India Pvt Ltd                FB Running Packing    ICRA B-      50      Upgraded
                                        Credit                                     from ICRA D
                                        (RPC/EPC/PCFC/EBD/FBD)
Cenosphere India Pvt Ltd                FB CC (sub-limit of   ICRA B-              Upgraded
                                        RPCFC)                                     from ICRA D
Cenosphere India Pvt Ltd                FB Rupee TL           ICRA B-      7       Upgraded
                                                                                   from ICRA D
Cochin Bridge Infrastructure            TL                    ICRA D       91.1    Reaffirmed
Co. Ltd
Issuer not cooperating
Dsg Corp Pvt Ltd                        Non FBL               ICRA B-      101     Reaffirmed
Issuer not cooperating
Ivax Paper Chemicals Ltd                Bk Loan Ratings       ICRA BBB     465
Issuer not cooperating
J Pan Tubular Components Pvt            FB LT                 ICRA BB+     218     Revised from
Ltd                                                                                ICRA BBB-
Krishna Natural Fibre Pvt Ltd           FBL                   ICRA B       99.5    Downgraded
Issuer not cooperating
Kshitija Infrastructure Pvt             Bk Loans              ICRA B       250
Ltd
Issuer not cooperating
Kunal Structure (India) Pvt             CC                    ICRA BBB     1480    Revised from
Ltd                                                                                ICRA A-
Issuer not cooperating
L&T Finance Holdings Ltd                NCD                   ICRA AA+     2500    Assigned
L&T Finance Holdings Ltd                NCD                   ICRA AA+     7500    Outstanding
L&T Finance Ltd                         Perpetual Debt        ICRA AA      6000    Outstanding
L&T Finance Ltd                         NCD                   ICRA AA+     65190   Outstanding
L&T Finance Ltd                         NCD (Public Issance)  ICRA AA+     6817    Outstanding
L&T Finance Ltd                         Subordinated Debt     ICRA AA+     13250   Outstanding
L&T Housing Finance Ltd                 Perpetual Debt        ICRA AA      1000    Outstanding
L&T Housing Finance Ltd                 NCD                   ICRA AA+     32500   Outstanding
L&T Housing Finance Ltd                 Subordinated Debt     ICRA AA+     3000    Outstanding
L&T Housing Finance Ltd                 Bk Lines              ICRA AA+/    29000   Outstanding
                                                              A1+
L&T Infrastructure Finance Co.          Perpetual Debt        ICRA AA      4000    Outstanding
Ltd
L&T Infrastructure Finance Co.          NCD (Infra Bonds)     ICRA AA+     16650.3 Outstanding
Ltd
L&T Infrastructure Finance Co.          NCD                   ICRA AA+     60340   Outstanding
Ltd
L&T Infrastructure Finance Co.          Subordinated Bonds    ICRA AA+     15000   Outstanding
Ltd
L&T Infrastructure Finance Co.          Bk Lines              ICRA AA+     70000   Outstanding
Ltd                                                           /A1+
Muthoot Vehicle And Asset               LT Bk Limits          ICRA BBB     250
Finance Ltd
Review process is underway
N. B. Cotex Pvt Ltd                     FBL                   ICRA B       80      Assigned
Issuer not cooperating
N.D. Plastics                           Bk Loans              ICRA B- /A4  100
Issuer not cooperating
Paramasivam Palanisamy                  Fund Based Fac        ICRA D       238     Downgraded
Charitable Trust                                                                   from ICRA B+
Phoenix Overseas Ltd                    Fund Based Fac        ICRA BBB-    4850    Reaffirmed
Phoenix Overseas Ltd                    Unallocated limits    ICRA BBB-    130     Reaffirmed
Prani Auto Plaza Pvt Ltd                Fund Based - CC       ICRA D       130     Revised from
                                                                                   ICRA B+
Prani Auto Plaza Pvt Ltd                Fund Based - TL       ICRA D       44      Revised from
                                                                                   ICRA B+
Prani Auto Plaza Pvt Ltd                Unallocated           ICRA D       3.5     Revised from
                                                                                   ICRA B+
Quesscorp Holdings Pte. Ltd             Fund Based - TL       ICRA AA-     1110    Assigned
                                                              (SO)
Radhagobinda Rice Mills Pvt Ltd         Bk Fac                ICRA D       66
Issuer not cooperating
Ritco Logistics Pvt Ltd                 LT Fund based         ICRA BBB-    350
Review process is underway
Ritco Logistics Pvt Ltd                 LT Non Fund based     ICRA BBB-    50
Review process is underway
Rucha Engineers Pvt Ltd                 Bk Loan Ratings       ICRA A- /A2+ 720
Issuer not cooperating
S & T Mining Company Pvt Ltd            FBL –TL               ICRA BBB+    1905    Reaffirmed
Issuer delayed in giving information
S & T Mining Company Pvt Ltd            FBL –CC               ICRA BBB+    45      Reaffirmed
Issuer delayed in giving information
S & T Mining Company Pvt Ltd            NFBL –BG              ICRA BBB+    50      Reaffirmed
Issuer delayed in giving information
Sarju Vitrified Pvt. Ltd                Fund Based - CC       ICRA B       75      Assigned
Sarju Vitrified Pvt. Ltd                Fund Based - TL       ICRA B       285     Assigned
Shaf Broadcast Pvt Ltd                  FBL                   ICRA BB      100     Reaffirmed
Issuer not cooperating
Sri Maharaja Industries                 Fund Based Fac        ICRA D       50      Downgraded
                                                                                   from ICRA B+
Issuer not cooperating
Sri Maharaja Oil Imports &              Fund Based Fac        ICRA D       140     Downgraded
Exports India Pvt Ltd                                                              from ICRA BB-
Issuer not cooperating
Sri Maharaja Oil Imports &              Unallocated           ICRA D       10      Downgraded
Exports India Pvt Ltd                                                              from ICRA
                                                                                   BB-/ A4
Issuer not cooperating
Sri Maharaja Refineries                 Fund Based Fac        ICRA D       100     Downgraded
                                                                                   from ICRA B+
Techno India                            Bk Fac                ICRA D       250
Issuer not cooperating
Three C Greens Developers Pvt           NCD                   ICRA B (SO)  2250    Revised from
Ltd                                                                                ICRA BB+ (SO)
Turbovent Industries Pvt Ltd            Fund based/ Non-fund  ICRA BB/ A4+ 200
                                        based Bk lines
Review process is underway
Umiya Industries                        BLR                   ICRA B /A4   60
Issuer not cooperating
Varsha Industries Pvt Ltd               FB –TL                ICRA B       16      Outstanding
Enhanced from Rs. 0.11
Varsha Industries Pvt Ltd               FB/Non fund based –CC ICRA B /A4   470     Outstanding
Varsha Industries Pvt Ltd               Unallocated           ICRA B /A4   0.1     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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