June 30, 2017 / 11:52 AM / 22 days ago

ICRA ratings for Indian debt instruments-Jun 30

15 Min Read

    Jun 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 29, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Asian Handicrafts Pvt Ltd               ST –Fund based        ICRA A4      50      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Asian Handicrafts Pvt Ltd               ST-Non Fund Based     ICRA A4      10      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Barclays Investments And Loans          CP programme          ICRA A1+     25000   Assigned
(India) Ltd
CR Retail Malls (India) Ltd             CP programme(IPO      ICRA A1+     5000    Assigned
                                        Financing)
CR Retail Malls (India) Ltd             CP programme (IPO     ICRA A1+     5000    Withdrawn
                                        Financing)
Ecap Equities Ltd                       CP Programme          ICRA A1+;    5000    Outstanding
ECL Finance Ltd                         Commercial Paper      ICRA A1+     80000   Outstanding
                                        Programme (IPO
                                        financing)
ECL Finance Ltd                         CP programme          ICRA A1+     36000   Outstanding
ECL Finance Ltd                         Short term            ICRA A1+     1000    Outstanding
                                        Non-Convertible
                                        Debenture Programme
ECL Finance Ltd                         Short Term            PP-MLDICRA   9000    Outstanding
                                        Principal Protected   A1+
                                        Market Linked Debenture Programme
Essel Mining & Industries Ltd           CP / ST Debt          ICRA A1+     15000   Reaffirmed
Essel Mining & Industries Ltd           Fund Based Bk Limits  ICRA A1+     1500    Reaffirmed
Essel Mining & Industries Ltd           Non Fund Based Bk     ICRA A1+     700     Reaffirmed
                                        Limits
Kalyan Silks Trichur Pvt Ltd            ST - Non-FB Fac       ICRA A2      30      Reaffirmed
Modern Chemicals                        ST non-FBL            ICRA A4      125     Reaffirmed
Rissala Products Pvt Ltd                ST -Fund Based        ICRA A4      20      -
Reason for delay in carrying out periodic review--Issuer not cooperating
S. P. Apparels Ltd                      ST: FB Fac            ICRA A1      1150    Upgraded
                                                                                   from ICRA A2
S. P. Apparels Ltd                      ST: FB Fac (Sub-limit)ICRA A1      -       Upgraded
                                                                                   from ICRA A2
SRS Ltd                                 ST non-fund based Bk  ICRA D       2380    Reaffirmed
                                        Fac
Sigma Chemtrade Pvt Ltd                 Non-FB Fac            ICRA A4+     125     Reaffirmed
Sigma Chemtrade Pvt Ltd                 Non-FB Fac            ICRA A4+     125     Reaffirmed
Sportking India Ltd                     ST Non-fund based Bk  ICRA A2      756.1   Upgraded
                                        Fac                                        from ICRA A3+
Virchow Petrochemicals Pvt Ltd          Non-FBL: LOC          ICRA A1      150     Withdrawn
Virchow Petrochemicals Pvt Ltd          Non-FBL: LOC          ICRA A1      150     Withdrawn

MEDIUM TERM RATINGS:
-------------------
SRS Ltd                                 Medium-term fixed     -            2250    Reaffirmed
                                        deposit programme



LONG TERM RATINGS:
-------------------
Aluminium India                         BLR                   ICRA BB/A4   420     -
Reason for delay in carrying out periodic review--Issuer not cooperating
Alva’S Education Foundation             LT -Fund Based        ICRA B+      2000    -
Arihant Dream Infra Projects            TL                    ICRA D       149     -
Ltd
Reason for delay in carrying out periodic review?Info and fee not provided
Asian Handicrafts Pvt Ltd               LT –CC                ICRA B+      10      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Asian Handicrafts Pvt Ltd               LT/ST Unallocated     ICRA B+/A4   10      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Barclays Investments And Loans          NCD programme         ICRA AAA     7450    Outstanding
(India) Ltd
Barclays Investments And Loans          Bk lines programme    ICRA AAA /   1500    Outstanding
(India) Ltd                                                   A1+
Barclays Investments And Loans          LT equity linked      PP-MLDICRA   15896   Outstanding
(India) Ltd                             debentures programme  AAA
Bhalara Cottonpvt Ltd                   Proposed Limits       ICRA B       50      Reaffirmed
Cr Retail Malls (India) Ltd             TL                    ICRA A       790     Outstanding
Cr Retail Malls (India) Ltd             Unallocated Limits    ICRA A       10      Outstanding
Debonair Realtors Pvt Ltd               LT –TL                ICRA A       580     Outstanding
Debonair Realtors Pvt Ltd               LT –TL                Provisional  270     Assigned
                                                              ICRA A
Ecap Equities Ltd                       NCD programme         ICRA AA      4000    Assigned
Ecap Equities Ltd                       NCD programme         ICRA AA      1000    Outstanding
Ecap Equities Ltd                       LT Market Linked      PP-MLDICRA   3500    Outstanding
                                        Debenture programme   AA
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      3000    Assigned
                                        Programme
Ecl Finance Ltd                         NCD                   ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      8500    Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA/A1+  110000  Outstanding
Ecl Finance Ltd                         Long term Principal   PP-MLDICRA   13500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Global Metal & Energy Pvt Ltd           FB limits             ICRA BB+     558     Reaffirmed
Icici Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Plan
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Dynamic Bond Fund
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Corporate Bond Fund
Jyoti General Industries                LT -Fund Based        ICRA B+      72      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Kalyan Silks Trichur Pvt Ltd            LT: TL                ICRA BBB+    110     Reaffirmed
Kalyan Silks Trichur Pvt Ltd            LT: CC                ICRA BBB+    600     Reaffirmed
Kalyan Silks Trichur Pvt Ltd            Long / ST: UnallocatedICRA BBB+    240     Reaffirmed
                                                              /A2
Modern Chemicals                        LT FBL                ICRA BB-     50      Reaffirmed
Narmada Sugars Pvt Ltd                  FB Fac                ICRA BBB-    444.3   -
Reason for delay in carrying out periodic review--Issuer not cooperating
New Opportunity Consultancy             NCDs                  ICRA BB-     80      Watch With
Pvt Ltd                                                                            Negative
                                                                                   implications
Nifty Labs Pvt Ltd                      BLR                   ICRA B+      533.7   -
Reason for delay in carrying out periodic review--Issuer not cooperating
Paswara Chemicals Ltd                   LT FBL                ICRA BB-     110     Reaffirmed
Paswara Chemicals Ltd                   Unallocated limits    ICRA BB-     40      Reaffirmed
Rissala Products Pvt Ltd                LT -Fund Based        ICRA B       80      -
Reason for delay in carrying out periodic review--Issuer not cooperating
S. P. Apparels Ltd                      LT: TL Fac            ICRA A       147.6   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
S. P. Apparels Ltd                      LT: FB Fac            ICRA A       200     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
S. P. Apparels Ltd                      LT /ST: Unallocated   ICRA A/A1    335.4   Upgraded
                                                                                   from ICRA
                                                                                   BBB+/A2
Sigma Chemtrade Pvt Ltd                 FB Fac                ICRA BB      10      Reaffirmed
Sigma Chemtrade Pvt Ltd                 FB Fac                ICRA BB      10      Reaffirmed
Sivaani Agribusiness Pvt Ltd            Bk Fac                ICRA BB-/A4  80      -
Reason for delay in carrying out periodic review.
Sportking India Ltd                     LT FB Bk Fac          ICRA BBB+    4608    Upgraded
                                                                                   from ICRA BBB
Sportking India Ltd                     Proposed/ Unallocated ICRA BBB+    1885.9  Upgraded
                                        Bk Fac                                     from ICRA BBB
SRS Healthcare And Research             LT / ST –unallocated  ICRA D       1150    Reaffirmed
Centre Ltd
SRS Ltd                                 LT FB Bk Fac          ICRA D       3600    Reaffirmed
SRS Ltd                                 LT / ST –FB/non-fund  ICRA D       2370    Reaffirmed
                                        based Bk Fac
Sundaram Finance Ltd                    PTCs                  ICRA AAA     6000    Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     6000    Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     4000    Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     2029.9  Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     7500.5  Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     6000.1  Reaffirmed
Sundaram Finance Ltd                    PTCs                  ICRA AAA     5000    Reaffirmed
Virchow Petrochemicals Pvt Ltd          Unallocated Limits    ICRA A       700     Withdrawn
Virchow Petrochemicals Pvt Ltd          FB Limits             ICRA A+      150     Upgraded
                                                                                   from ICRA A
Virchow Petrochemicals Pvt Ltd          Non-FBL: BG           ICRA A+      20      Upgraded
                                                                                   from ICRA A
Virchow Petrochemicals Pvt Ltd          Unallocated Limits    ICRA A+      700     Withdrawn
Virchow Petrochemicals Pvt Ltd          FB Limits             ICRA A+      150     Upgradedfrom
                                                                                   ICRA A
Virchow Petrochemicals Pvt Ltd          Non-FBL: BG           ICRA A+      20      Upgradedfrom
                                                                                   ICRA A
Vivek Enterprise                        CC                    ICRA B-      100     Assigned
Vivek Enterprise                        TL                    ICRA B-      11.5    Assigned
Vivek Enterprise                        Unallocated limit     ICRA B-      3.5     Assigned
Yaaganti Seeds Pvt Ltd                  FB limits             ICRA BBB-    180     Withdrawn
Yaaganti Seeds Pvt Ltd                  Unallocated limits    ICRA BBB-    20      Withdrawn


--------------------------------------------------------------------------------------------
$: 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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