June 29, 2017 / 10:31 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Jun 29

 (Repeating to additional Ratings as of June 28,2017)
    Jun 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 28, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aachi Masala Foods Pvt Ltd              ST: Non-FB Fac        ICRA A2      60      Reaffirmed
(revised from Rs.6.80 CR)
Aklavya Industries Pvt Ltd              NFB-BG                ICRA A4      0.045   Reaffirmed
Issuer not cooperating
Bhuruka Gases Ltd                       ST Non-FBL            ICRA A3      25      Upgraded
                                                                                   from
                                                                                   ICRA A4+
Classic Microtech Pvt Ltd               LOC                   ICRA A4     50       Reaffirmed
Danish Leather Exports                  ST: FB Fac            ICRA A4      35      Reaffirmed
Issuer not cooperating
Danish Leather Exports                  ST: Non-FB Fac        ICRA A4      15      Reaffirmed
Issuer not cooperating
Danish Leather Exports                  ST: Unallocated limitsICRA A4      50      Reaffirmed
Issuer not cooperating
Dharampal Satyapal Ltd                  ST fund based Bk Fac^ ICRA A1+    4000     Reaffirmed
^Short-term fund-based facility is interchangeable to the extent of Rs. 50 crore with non-fund
based facility and to the extent of Rs. 9 crore with cash credit facility with a long-term
rating of       AA-(Stable)
Dharampal Satyapal Ltd                  CP (CP)               ICRA A1+    500      Outstanding
Gtn Engineering (India) Ltd             STFB Limits           ICRA A2+    346.5    Upgradedfrom
                                                                                   ICRA A2
Gtn Engineering (India) Ltd             ST Non-FBL            ICRA A2+    201.5    Upgradedfrom
                                                                                   ICRA A2
Hdfc Asset Management Co. Ltd           HDFC Floating Rate    ICRA A1+    -        Reaffirmed
                                        Income Fund - ST Plan mfs
Hdfc Asset Management Co. Ltd           HDFC Liquid Fund      ICRA A1+    -        Reaffirmed
                                                              mfs
Hdfc Asset Management Co. Ltd           HDFC Cash Management  ICRA A1+    -        Reaffirmed
                                        Fund – Savings Plan   mfs
Ifl Wealth Finance Ltd                  CP programme (IPO     ICRA A1+     25000   Withdrawn
                                        financing)
Ifl Wealth Finance Ltd                  CP programme          ICRA A1+     40000   outstanding
Ifl Wealth Finance Ltd                  CP programme (IPO     ICRA A1+     40000   outstanding
                                        financing)
Iron Triangle Ltd                       ST Non Fund Base      ICRA A2+    4950     Reaffirmed
J.M. Financial & Investment             CP programme (IPO     ICRA A1+    8000     Assigned
Consultancy Services Pvt Ltd            Financing)
J.M. Financial & Investment             CP programme          ICRA A1+    2000     Outstanding
Consultancy Services Pvt Ltd
J.M. Financial & Investment             CP programme (IPO     ICRA A1+    8000     Withdrawn
Consultancy Services Pvt Ltd            Financing)
Micron Electricals                      Non-FBL               ICRA A1+     2500    Reaffirmed
Montana Tiles Pvt Ltd                   Non FB Limits         ICRA A4      12.5    Reaffirmed
Remsons Industries Ltd                  ST NFBL               ICRA A4+     7       Revised from
                                                                                   ICRA A3
River Engineering Pvt Ltd               ST NFBL               ICRA A4      75      -
Issuer not cooperating
Scorpios Apparels Pvt Ltd               ST –FB                ICRA A4+    140      Reaffirmed
Scorpios Apparels Pvt Ltd               ST –Non FB            ICRA A4+    10       Reaffirmed
Shakti Cables Pvt Ltd                   Non FB –LOC           ICRA A4      15      Reaffirmed
Shivam Agroprocess Pvt Ltd              Packing Credit        ICRA A4      350     Reaffirmed
Sudarshan Sulz Pvt Ltd                  ST Non FB             ICRA A4     3        Withdrawn
Uttara Foods And Feeds Pvt Ltd          ST –Non Fund based    ICRA D      1200     Reaffirmed
Venkar Chemicals Pvt Ltd                ST non-FBL            ICRA A4+     12.5    Reaffirmed
World Steeltech (India) Pvt Ltd         NFBL                  ICRA A4+     15      Reaffirmed
Issuer not cooperating

LONG TERM RATINGS:
-------------------
Aachi Masala Foods Pvt Ltd              LT: TL                ICRA BBB+    603     Reaffirmed
(revised from 39.50 CR)
Aachi Masala Foods Pvt Ltd              LT: FB Fac            ICRA BBB+    1500    Reaffirmed
(revised from Rs. 170.00 CR)
Aarti Suitings Pvt Ltd                  LT FB –CC             ICRA BB-     95      -
Issuer not cooperating
Aarti Suitings Pvt Ltd                  LT FB –TL             ICRA BB-     15      -
Issuer not cooperating
Aklavya Industries Pvt Ltd              FB CC                 ICRA B+      70      Reaffirmed
Aklavya Industries Pvt Ltd              FB TL                 ICRA B+      44.9    Reaffirmed
Assetz Premium Holdings Pvt Ltd         NCD                   ICRA BB-(SO) 1500    Reaffirmed
Badami Town Municipal Council           Issuer Rating         IrBB                 Assigned
Bank Of Maharashtra                     Basel III Compliant   ICRA A-(hyd) 10000   Downgraded
                                        Tier I Bonds                               from ICRA
                                                                                   A(hyd)
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      4000    Downgraded
                                        Upper Tier II Bonds                        from ICRA AA-
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      700     Downgraded
                                        Innovative Perpetual                       from ICRA AA-
                                        Debt Instrument
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      500     Downgraded
                                        Lower Tier II Bonds                        from ICRA AA-
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      300     Downgraded
                                        Innovative Perpetual                       from ICRA AA-
                                        Debt Instrument
Bank Of Maharashtra                     Basel II Compliant    ICRA AA-     11300   Downgraded
                                        Lower Tier II Bonds                        from ICRA AA
Bank Of Maharashtra                     Basel II Compliant    ICRA AA-     200     Downgraded
                                        Lower Tier II Bonds                        from ICRA AA
Bank Of Maharashtra                     Basel III Compliant   ICRA         10000   Downgraded
                                        Tier II Bonds         AA-(hyd)             from ICRA
                                        Programme                                  AA(hyd)
Bhuruka Gases Ltd                       LT FB limits          ICRA BBB-    35      Upgraded
                                                                                   from
                                                                                   ICRA BB+
Bhuruka Gases Ltd                       Unallocated Limits    ICRA BBB-    140     Upgraded
                                                                                   from
                                                                                   ICRA BB+
/ICRA A4+
Brigade Properties Pvt Ltd              LT –Bk lines          ICRA A       1000    Reaffirmed
Brigade Properties Pvt Ltd              LT –NCD               ICRA A       1000    Reaffirmed
Classic Microtech Pvt Ltd               CC                    ICRA B      100      Reaffirmed
Dharampal Satyapal Ltd                  LT fund based Bk Fac  ICRA AA-    3763.6   Reaffirmed
Dharampal Satyapal Ltd                  LT non-fund based Bk  ICRA AA-    50       Reaffirmed
                                        Fac
Dharampal Satyapal Ltd                  LT unallocated        ICRA AA-    1186.4   Reaffirmed
Dharampal Satyapal Ltd                  NCD                   ICRA AA-    166.7    Outstanding
Frank Lifecare Pvt Ltd                  TL                    ICRA B+      144     -
Issuer not cooperating
Frank Lifecare Pvt Ltd                  optionally            ICRA B+      6       -
                                        convertible debentureF
Issuer not cooperating
Ganga Papers India Ltd                  FB CC                 ICRA BB-     60      -
Issuer not cooperating
Ganga Papers India Ltd                  LT / ST FB            ICRA BB- /A4 80      -
Issuer not cooperating
Gtn Engineering (India) Ltd             LT FB Limits          ICRA BBB+   2045.1   Upgradedfrom
                                                                                   ICRA BBB
Gtn Engineering (India) Ltd             LT Non-FBL            ICRA BBB+   125.5    Upgradedfrom
                                                                                   ICRA BBB
Gtn Engineering (India) Ltd             LT FB Limits          ICRA BBB+   10.3     Upgradedfrom
                                                                                   ICRA BBB
Hdfc Asset Management Co. Ltd           HDFC Bking and PSU    ICRA AA -   -        revised from
                                        Debt Fund             mfs                  ICRA AA+mfs
Hdfc Asset Management Co. Ltd           HDFC High Interest    ICRA AA-    -        revised from
                                        Fund -ST Plan         mfs                  ICRA AA+mfs
Hdfc Asset Management Co. Ltd           HDFC High Interest    ICRA AA+    -        Revised from
                                        Fund – Dynamic Plan   mfs                  ICRA AAAmfs
Hdfc Asset Management Co. Ltd           HDFC Cash Management  ICRA AAA    -        Reaffirmed
                                        Fund- Treasury        mfs
                                        Advantage Plan
Hdfc Asset Management Co. Ltd           HDFC Medium Term      ICRA AAA    -        Reaffirmed
                                        Opportunities Fund    mfs
Hdfc Asset Management Co. Ltd           HDFC ShortTerm        ICRA AAA    -        Reaffirmed
                                        Opportunities Fund    mfs
Hdfc Asset Management Co. Ltd           HDFC Income Fund      ICRA AAA    -        Reaffirmed
                                                              mfs
High Street Fashions Pvt Ltd            LT FB –CC             ICRA B-     40       Withdrawn
High Street Fashions Pvt Ltd            LT FB –TL             ICRA B-     64.4     Withdrawn
High Street Fashions Pvt Ltd            LT Non-fund Based     ICRA B-     5.5      Withdrawn
High Street Fashions Pvt Ltd            LT –Unallocated       ICRA B-     5.1      Withdrawn
Ifl Wealth Finance Ltd                  NCD programme         ICRA AA      3000    outstanding
Ifl Wealth Finance Ltd                  Unsecured NCD         ICRA AA      5000    outstanding
                                        programme
Ifl Wealth Finance Ltd                  PP-MLD programme      PP-MLD       25500   outstanding
                                                              ICRA  AA
Iron Triangle Ltd                       LT Fund Based-CC      ICRA A-     1050     Reaffirmed
Iron Triangle Ltd                       LT Fund Based-TL      ICRA A-     950      Reaffirmed
Kohinoor Elite Hotels Pvt Ltd           LT FBL                ICRA D       24.5    Reaffirmed
Kohinoor Hospitals Pvt Ltd              LT FBL                ICRA B-     451.3    Reaffirmed
Kohinoor Hospitals Pvt Ltd              Unallocated Limits    ICRA B-     122.8    Reaffirmed
M.M. Ispatpvt Ltd                       Bk Fac                ICRA B       100     -
Issuer not cooperating
Mahua Bharatpur Expressways Ltd         FB Fac (TL)           ICRA AA      2080    Upgraded
                                                                                   from
                                                                                   ICRA AA-
Mccoy Architectural Systems             BLR                   ICRA BBB-    250     -
Pvt Ltd
Review process is underway
Metawood Display Systems                Bk Loans              ICRA BB-     200     -
Issuer not cooperating
Montana Tiles Pvt Ltd                   FB Limits             ICRA B       87.5    Reaffirmed
Nazareth Foods Pvt Ltd                  LT: TL                -            -       -
(revised from 3.41 CR)
Nazareth Foods Pvt Ltd                  LT: FB Fac            ICRA BBB+    750     Reaffirmed
Prp Professional Edge                   LT Bk Lines           ICRA BB     150      Upgraded
                                                                                   from
                                                                                   ICRA BB-
Quality Woven Sacks Pvt Ltd             FB CC                 ICRA BB-     140     -
Issuer not cooperating
Quality Woven Sacks Pvt Ltd             FB Unallocated        ICRA BB- /A4 108.5   -
Issuer not cooperating
Ras Polytex Pvt Ltd                     FB CC                 ICRA BB-     65      -
Issuer not cooperating
Ras Polytex Pvt Ltd                     FB Unallocated        ICRA BB- /A4 59.7    -
Issuer not cooperating
Remsons Industries Ltd                  LT FBL –CC            ICRA BB+     200     Revised from
                                                                                   ICRA BBB-
Remsons Industries Ltd                  LT FBL –TL            ICRA BB+     15      Revised from
                                                                                   ICRA BBB-
River Engineering Pvt Ltd               LT FBL                ICRA BB      200     -
Issuer not cooperating
Sambandh Finserve Pvt Ltd               TL                    ICRA BB-    449.2    Assigned
Removed from watch with negative implications
Sambandh Finserve Pvt Ltd               Un-allocated          ICRA BB-    0.8      Assigned
Removed from watch with negative implications
Scorpios Apparels Pvt Ltd               LT/ ST -Unallocated   ICRA BB     167.3    Reaffirmed
Shakti Cables Pvt Ltd                   FB –CC                ICRA B-      17.5    Reaffirmed
Shakti Cables Pvt Ltd                   Non FB –BG            ICRA B-      30      Reaffirmed
Shakti Cables Pvt Ltd                   Unallocated           ICRA B-      37.5    Reaffirmed
Shivam Agroprocess Pvt Ltd              FB TL                 ICRA BB-     3.1     Reaffirmed
Shivam Agroprocess Pvt Ltd              Unallocated Limits    ICRA BB-     20.8    Reaffirmed
Shree Renuka Sugars Ltd                 BLR                   ICRA D       65134.7 -
Review process is underway
Skn Haryana City Gas                    FB Limits             ICRA BB-    70.8     Upgraded
Distribution Pvt. Ltd.                                                             from ICRA BB
Skn Haryana City Gas                    Non-FBL               ICRA BB-    100      Upgraded
Distribution Pvt. Ltd.                                                             from ICRA BB
Sudarshan Sulz Pvt Ltd                  LT FB –CC             ICRA B+     35       Withdrawn
Sudarshan Sulz Pvt Ltd                  LT FB –TL             ICRA B+     28.7     Withdrawn
Sudarshan Sulz Pvt Ltd                  LT -Unallocated       ICRA B+     5        Withdrawn
System Control & Automation             Bk Fac                ICRA B+ /    60      -
Pvt Ltd                                                       ICRA A4
Issuer not cooperating
Uttara Foods And Feeds Pvt Ltd          LT –Fund based        ICRA D      1458.3   Reaffirmed
Vasundhara Developers                   FB –TL                ICRA B       100     Reaffirmed
Issuer not cooperating
Venkar Chemicals Pvt Ltd                LT non-FBL            -            0       Reaffirmed
Venkar Chemicals Pvt Ltd                LT FB limits          ICRA BB      140     Reaffirmed
Venkar Chemicals Pvt Ltd                Long / ST unallocated ICRA BB /    29.5    Reaffirmed
                                        limits                ICRA A4+
World Steeltech (India) Pvt Ltd         FBL                   ICRA B-      98      Reaffirmed
Issuer not cooperating
Yfc Projects Pvt.Ltd.                   FB –CC                ICRA BB+     300     Withdrawn
Yfc Projects Pvt.Ltd.                   Non-fund Based Bk     ICRA BB+     1200    Withdrawn
                                        Limits^
^Long Term Non Fund based  limits  are  interchangeable  with Short Term Non Fund Based  limits 
to the extent of Rs. 20.00 crore andin case the limits are availed as short term facilities, the
short term rating will be  applicable.  The  overall  utilisation  by   way    of  long  term 
and  short  term  non-fund  based  limits  cannot  exceed  Rs.  120.00 crore
--------------------------------------------------------------------------------------------
$: 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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