July 4, 2017 / 12:29 PM / in 22 days

RPT-ICRA ratings for Indian debt instruments-Jul 4

24 Min Read

 (Repeating to add more ratings)
    Jul 4 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 3, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Amit Engineers                          Non-fund based ST     ICRA A4      17      - 
Issuer delayed in giving information
Blg Construction Service Pvt            Non-FBL               ICRA A4      90      Reaffirmed
Ltd
Caspian Impact Investments Pvt          Bk Lines              ICRA A2      200     Reaffirmed
Ltd
Cochin Minerals And Rutile Ltd          ST – Non-FB Fac       ICRA D       414     Reaffirmed
Derewala Industries Ltd                 ST FBL                ICRA A3+     330      -
Issuer delayed in giving information
Derewala Industries Ltd                 ST Non-FBL            ICRA A3+     1635     - 
Issuer delayed in giving information
East West Seeds India Pvt Ltd           ST Non-fund based     ICRA A2      20       -
Issuer Not Cooperating
Evergreen Seamless Pipes &              ST-Non Fund Based     ICRA A3+     265      -
Tubes Pvt Ltd
Review process is underway
Green Valleys Shelters Pvt Ltd          Grading               Chennai      -       Assigned
                                                              Four-Star1
Jbj Technologies Ltd                    ST FBL                ICRA A4      5.5     -
Issuer Not Cooperating
Jbj Technologies Ltd                    ST Non-FBL            ICRA A4      7.5     -
Issuer Not Cooperating
Kss Abhishek Safety Systems             LOC                   ICRA A3      40      Reaffirmed
Pvt Ltd
Metropolitan Eximchem Ltd               ST FB Limit –         ICRA A2      40      Withdrawn
                                        FDB/FBE/BRD
Metropolitan Eximchem Ltd               ST FB Limit – Packing ICRA A2              Withdrawn
                                        Credit
Metropolitan Eximchem Ltd               ST Non-FBL            ICRA A2      135     Withdrawn
Mirha Exports Pvt Ltd                   FB limits             ICRA A3      1400    Revised from
                                                                                   ICRA A2
Mirha Exports Pvt Ltd                   Non FB limits         ICRA A3      330     Revised from
                                                                                   ICRA A2
Opg Power Generation Pvt Ltd            Non-FBL (LC)          ICRA A1      4431.5  Reaffirmed
Ramco Industries Ltd                    FB / Non-FB Fac       ICRA A1+     2600    Upgraded
                                                                                   from ICRA A1
revised from Rs. 285.00 crore
Ramco Industries Ltd                    ST Proposed Fac       ICRA A1+     900     Upgraded
                                                                                   from ICRA A1
revised from Rs. 25.00 crore
Sonhira Sahakari Sakhar                 ST Loan               ICRA A4      2000    Reaffirmed
Karkhana Ltd
Sri Ram Industries                      LT/ ST - Unallocated  ICRA A4              Withdrawn
Tanmay Polyfilms Pvt Ltd                LOC                   ICRA A4      40      -
Issuer Not Cooperating
Trt Builders And Constructions          Non-fund Based        ICRA A4      40      Reaffirmed
(India) Pvt Ltd
Issuer Not Cooperating
Umbel Properties Pvt Ltd                Non Fund Based – LOC  ICRA A3 (SO) 300     Assigned

LONG TERM RATINGS:
-------------------
Advaith Bio Remedies                    Fund based - CC       ICRA B-      30       -
Issuer Not Cooperating
Advaith Bio Remedies                    Fund based - TL       ICRA B-      30       -
Issuer Not Cooperating
Aircel Cellular Ltd                     FB/Non-FBL            ICRA BB+     174790^ Revised ICRA
                                                                                   BBB
^These  limits  are  consolidated  for  Aircel  Group;  interchangeable  among  Aircel  Limited,
 Aircel  Cellular  Limited,  Dishnet WirelessLimited and Aircel Smart Money Limited
Aircel Ltd                              FB/Non-FBL            ICRA BB+     174790^ Revised ICRA
                                                                                   BBB
^These  limits  are  consolidated  for  Aircel  Group;  interchangeable  among  Aircel  Limited,
 Aircel  Cellular  Limited,  Dishnet WirelessLimited and Aircel Smart Money Limited
Aircel Smart Money Ltd                  FB/Non-FBL            ICRA BB+     174790^ Revised ICRA
                                                                                   BBB
^These  limits  are  consolidated  for  Aircel  Group;  interchangeable  among  Aircel  Limited,
 Aircel  Cellular  Limited,  Dishnet WirelessLimited and Aircel Smart Money Limited
Amit Engineers                          Fund based-LT         ICRA B+      41       -
Issuer delayed in giving information
Amit Engineers                          Non-fund based LT     ICRA B+      5        -
Issuer delayed in giving information
Ashed Properties And                    LT – FB               ICRA BBB     100     Withdrawn
Investments Pvt Ltd
Ashoka Developers                       BLR                   ICRA BB-     100      -
Issuer Not Cooperating
Aveena Milk Products                    Fund based LT         ICRA B+      50       -
Issuer delayed in giving information
Aveena Milk Products                    LT Unallocated        ICRA B+      50       -
Issuer delayed in giving information
B.S. Agriculture Industries             FBL                   ICRA B / A4  55       -
(India) Ltd
Issuer Not Cooperating
B.S. Agriculture Industries             Non FBL               ICRA B / A4  15       -
(India) Ltd
Issuer Not Cooperating
Bale Babu Estates Pvt Ltd               Non FBL -BG           ICRA B       66.4     -
Issuer Not Cooperating
Bhagatpur Tea Co. Ltd                   FB – TL               ICRA B       0.6     Reaffirmed
Bhagatpur Tea Co. Ltd                   FB – CC               ICRA B       64.4    Reaffirmed
Blg Construction Service Pvt            FBL                   ICRA B+      58      Reaffirmed
Ltd
Blg Construction Service Pvt            Un-allocated Limits   ICRA B+      2       Reaffirmed
Ltd
Caspian Impact Investments Pvt          NCD                   ICRA BBB     800     Reaffirmed
Ltd
Caspian Impact Investments Pvt          Bk Lines              ICRA BBB             Withdrawn
Ltd
Cochin Minerals And Rutile Ltd          TL                    ICRA D       289.7   Reaffirmed
Cochin Minerals And Rutile Ltd          LT - FBL              ICRA D       365     Reaffirmed
Cochin Minerals And Rutile Ltd          Issuer Ratings        IrD/ IrD             Withdrawn
Darshan Sagar Developers                FBL                   ICRA B+      150     Reaffirmed
Derewala Industries Ltd                 LT FBL                ICRA BBB     145     -
Issuer delayed in giving information
Derewala Industries Ltd                 Interchangeable       ICRA BBB             -
                                        (Sub-Limits of FBL)   /A3+
Issuer delayed in giving information
Disha Microfin Pvt Ltd -Aphros          PTC Series A1         ICRA A- (SO)         Upgraded
Sbl Ifmr Capital 2015                                                              from ICRA
                                                                                   BBB-(SO)
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA A- (SO)         Reaffirmed
-Cartman Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB+             Reaffirmed
-Cartman Ifmr Capital 2016                                    (SO)
Disha Microfin Pvt Ltd -Cosmo           PTC Series A1         ICRA A- (SO)         Reaffirmed
Ifmr Capital 2016
Disha Microfin Pvt Ltd -Cosmo           PTC Series A2         ICRA BBB-            Reaffirmed
Ifmr Capital 2016                                             (SO)
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA A- (SO)         Reaffirmed
-Griffin Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB+             Reaffirmed
-Griffin Ifmr Capital 2016                                    (SO)
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB (SO)         Reaffirmed
-Kenshin Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA BBB+            Reaffirmed
-Kenshin Ifmr Capital 2016                                    (SO)
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA A- (SO)         Reaffirmed
-Kestrel Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB+             Reaffirmed
-Melisandre Ifmr Capital 2016                                 (SO)
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA BBB+            Reaffirmed
-Melisandre Ifmr Capital 2016                                 (SO)
Disha Microfin Pvt Ltd -Rufous          PTC Series A1         ICRA A- (SO)         Reaffirmed
Sbl Ifmr Capital 2016
Disha Microfin Pvt Ltd -Salus           PTC Series A1         ICRA A- (SO)         Reaffirmed
Sbl Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA A- (SO)         Reaffirmed
-Theoden Ifmr Capital 2016
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB+             Reaffirmed
-Theoden Ifmr Capital 2016                                    (SO)
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA A (SO)          Reaffirmed
-Triopas Ifmr Capital 2016
Dishnet Wireless Ltd                    FB/Non-FBL            ICRA BB+     174790^ Revised ICRA
                                                                                   BBB
^These  limits  are  consolidated  for  Aircel  Group;  interchangeable  among  Aircel  Limited,
 Aircel  Cellular  Limited,  Dishnet WirelessLimited and Aircel Smart Money Limited
East West Seeds India Pvt Ltd           LT Fund based - CC    ICRA BBB+    222.5    -
Issuer Not Cooperating
Evergreen Seamless Pipes &              LT-Fund Based         ICRA BBB     50       -
Tubes Pvt Ltd 
Review process is underway
Evergreen Seamless Pipes &              Proposed Fac          ICRA BBB     139.3    -
Tubes Pvt Ltd                                                 /A3+
Review process is underway
Future Financial Servicess Pvt          PTC Series A1         ICRA AA-             Upgraded
Ltd -Bythos Sbl Ifmr Capital                                  (SO)                 from ICRA
2015                                                                               A-(SO)
Future Financial Servicess Pvt          PTC Series A2         ICRA BB+             Reaffirmed
Ltd -Bythos Sbl Ifmr Capital                                  (SO)
2015
Future Financial Servicess Pvt          PTC Series A1         ICRA A- (SO)         Reaffirmed
Ltd -Golani Sbl Ifmr Capital
2015
Future Financial Servicess Pvt          PTC Series A2         ICRA BBB-            Reaffirmed
Ltd -Golani Sbl Ifmr Capital                                  (SO)
2015
Future Financial Servicess Pvt          PTC Series A1         ICRA A+ (SO)         Reaffirmed
Ltd -Hattori Ifmr Capital 2016
Future Financial Servicess Pvt          PTC Series A1         ICRA A- (SO)         Reaffirmed
Ltd -Nereid Ifmr Capital 2016
Future Financial Servicess Pvt          PTC Series A2         ICRA BB+             Reaffirmed
Ltd -Nereid Ifmr Capital 2016                                 (SO)
Future Financial Servicess Pvt          PTC Series A1         ICRA AA+             Upgraded
Ltd -Oda Ifmr Capital 2015                                    (SO)                 from ICRA
                                                                                   A+(SO)
Future Financial Servicess Pvt          PTC Series A2         ICRA BBB-            Reaffirmed
Ltd -Oda Ifmr Capital 2015                                    (SO)
Future Financial Servicess Pvt          PTC Series A1         ICRA A- (SO)         Reaffirmed
Ltd -Tigris Sbl Ifmr Capital
2016
Future Financial Servicess Pvt          PTC Series A1         ICRA A (SO)          Reaffirmed
Ltd -Verismo Ifmr Capital 2015
Future Financial Servicess Pvt          PTC Series A2         ICRA BBB-            Reaffirmed
Ltd -Verismo Ifmr Capital 2015                                (SO)
Girijashankar Cotton Pvt Ltd            Fund based LT         ICRA B+      70      -
Issuer delayed in giving information  
Girijashankar Cotton Pvt Ltd            LT Unallocated        ICRA B+      10      -
Issuer delayed in giving information
Global Institute Of Medical             Fund based LT         ICRA B+      200     -
Science & Health Care
Issuer delayed in giving information
Gokak Sugars Ltd                        BLR                   ICRA B       360     -
Review process is underway
Gupta Solvent Pvt Ltd                   Fund based - CC       ICRA B+      60      Assigned
Gupta Solvent Pvt Ltd                   Fund based - TL       ICRA B+      35      Assigned
Hira Cotton Fibers                      BLR                   ICRA B+      90
Issuer Not Cooperating
Indus Integrated Information            Bk Fac                ICRA BB- /A4 130     -
Management Ltd
Issuer Not Cooperating
Jbj Technologies Ltd                    LTFBL                 ICRA B       72.5    -
Issuer Not Cooperating
Jia Auto Sales Pvt Ltd                  Bk Fac                ICRA C /A4   320     -
Review process is underway
Kalwakurthy Municipality                Issuer Rating         IrBB-                Assigned
Kss Abhishek Safety Systems             LT/ST Unallocated     ICRA BBB-    60      Reaffirmed
Pvt Ltd                                                       /A3
Maberest Hotels Pvt Ltd                 BLR                   ICRA BB- /A4 100     -
Issuer Not Cooperating
Maharashtra Seamless Ltd                LT FB Bk Fac          ICRA AA-     1400    Reaffirmed
enhanced from 25.00 CR
Maharashtra Seamless Ltd                LT/ST non-fund based  ICRA AA-     5750    Reaffirmed
                                        Bk Fac ^              /A1+
reduced from 693.50 CR; ^Non-fund based limits are interchangeable between Letter of Credit,
Bank Guarantee and Buyer’s Credit
Maharashtra Seamless Ltd                LT/ST unallocated     ICRA AA-     35      Reaffirmed
                                                              /A1+
Maharashtra Seamless Ltd                Issuer rating         IrAA-                Reaffirmed
Manipal Global Education                FB –CC                ICRA A-      1290    Upgraded
Services Pvt Ltd                                                                   from ICRA
                                                                                   BBB+
Manipal Global Education                FB –TL                ICRA A-      1200    Upgraded
Services Pvt Ltd                                                                   from ICRA
                                                                                   BBB+
Manipal Global Education                Non FB -SBLC          ICRA A-      4500    Assigned
Services Pvt Ltd
Motilal Oswal Financial                 NCD                   ICRA AA      1500    Reaffirmed
Services Ltd
Nivvasa Properties                      BLR                   ICRA B+      100     -
Issuer Not Cooperating
Opg Power Generation Pvt Ltd            TL                    ICRA A+      15676.5 Reaffirmed
Opg Power Generation Pvt Ltd            FB limits             ICRA A+      1950    Reaffirmed
Opg Power Generation Pvt Ltd            Non-FBL (BG)          ICRA A+      1748.5  Reaffirmed
Orb Energy Pvt Ltd                      NCD                   ICRA B       22.5
Review process is underway
Paari Chem Resources                    BLR                   ICRA BB- /A4 250     -
Issuer Not Cooperating
Pal Fashions Pvt Ltd                    FB –CC                ICRA BBB+    150     Reaffirmed
Pal Fashions Pvt Ltd                    FB –TL                ICRA BBB+    151.4   Reaffirmed
Ramco Industries Ltd                    TL / ECBs             ICRA A+      1213    Upgraded
                                                                                   from ICRA A
revised from Rs. 133.10 crore
Ramco Industries Ltd                    Long- term Proposed   ICRA A+      287     Upgraded
                                        Fac                                        from ICRA A
Revised from Rs. 56.90 crore
Ranjan Fabrics Pvt Ltd                  Fund based LT         ICRA B+      82.5    -
Issuer delayed in giving information
Regency Property And                    LT – FB               ICRA BBB-    100     Withdrawn
Management Services
Rr Gold Palace Pvt Ltd                  Fund based - CC       ICRA BB-     620     -
Issuer Not Cooperating
S. Nanda Industries Pvt Ltd             BLR                   ICRA B+      160     -
Issuer Not Cooperating
S.K. Heights Pvt Ltd                    BLR                   ICRA B+      150     -
Issuer Not Cooperating
S.K. Solvex Pvt Ltd                     Fund based LT         ICRA B       85      -
Issuer delayed in giving information
Sama Jewellery Pvt Ltd                  BLR                   ICRA BB- /A4 85      -
Issuer Not Cooperating
Sanmati Edible Oils Pvt Ltd             Fund based LT         ICRA B       80      -
Issuer delayed in giving information
Scr Nirman Pvt Ltd                      Fund based - CC       ICRA BB-     30      Upgraded
Scr Nirman Pvt Ltd                      Non Fund based - BG   ICRA BB- /A4 70      Upgraded
Shadnagar Municipality                  Issuer Rating         IrBB-                Assigned
Shriya Rice Mills                       LT –TL                ICRA B       12.1    Upgraded
                                                                                   from ICRA B-
Revised from 2.95 CR
Shriya Rice Mills                       LT – FB CC            ICRA B       35      Upgraded
                                                                                   from ICRA B-
Shriya Rice Mills                       LT – Proposed Fac     ICRA B       37.9    Upgraded
                                                                                   from ICRA B-
Revised from 2.05 CR
Sonhira Sahakari Sakhar                 LT Loan               ICRA B       750     Revised from
Karkhana Ltd                                                                       ICRA B+
Sri Ram Industries                      TL                    ICRA B+      25      Reaffirmed
Sri Ram Industries                      LT - FBL              ICRA B+      50      Reaffirmed
Sri Ramcharan Energy And Infra          TL                    ICRA BB+     450     Assigned
Pvt Ltd
Sri Sai Shivanagere Solar               FBL-Unallocated       ICRA B       56      -
Power Pvt Ltd
Issuer Not Cooperating
Srinivasa Hair Industries               BLR                   ICRA BB      485     -
Issuer Not Cooperating
Srushti Corporation                     BLR                   ICRA BB      100     -
Issuer Not Cooperating
Steckbeck Jewelry Pvt Ltd               Unallocated Limits    ICRA BB+     120     Withdrawn
                                                              /A4+
Sunworld Residency Pvt Ltd              LT FB TL (TL)         ICRA D       900     Revised from
                                                                                   ICRA BB
Svatantra Microfin Pvt Ltd              LT Bk Fac             ICRA A-      2500    Reaffirmed
Tanmay Polyfilms Pvt Ltd                TL                    ICRA B-      35      -
Issuer Not Cooperating
Tanmay Polyfilms Pvt Ltd                CC                    ICRA B-      30      -
Issuer Not Cooperating
Trt Builders And Constructions          FB CC                 ICRA C+      65      Reaffirmed
(India) Pvt Ltd
Issuer Not Cooperating
Umbel Properties Pvt Ltd                Fund Based – TL       ICRA BBB-    2000    Assigned
                                                              (SO)
V.K.Gopal                               LT Fac                ICRA B       95      Reaffirmed
Velammal Educational Trust              LT: FB Fac – CC       ICRA BBB-    1055    Assigned
Velammal Educational Trust              LT: FB Fac –          ICRA BBB-    3773.9  Assigned
                                        Term-loans
Velammal Educational Trust              LT: Unallocated       ICRA BBB-    1223.9  Assigned
                                        limits 
Vikas Cot Fiber Pvt Ltd                 Fund based LT         ICRA B+      186.8   -
Issuer Not Cooperating
Vikas Cot Fiber Pvt Ltd                 LT Unallocated        ICRA B+      13.2    -
Issuer Not Cooperating
Wanaparthy Municipality                 Issuer Rating         IrBB-                Assigned
West Bengal State Electricity           9.75% Market Bonds    ICRA BBB+    1830    Reaffirmed
Transmission Co. Ltd
West Bengal State Electricity           10.29% Market Bonds   ICRA BBB+    2500    Reaffirmed
Transmission Co. Ltd
West Bengal State Electricity           TL                    ICRA BBB+    3000    Reaffirmed
Transmission Co. Ltd
West Bengal State Electricity           Issuer Rating         IrBBB+               Reaffirmed
Transmission Co. Ltd
Wonder Construction                     BLR                   ICRA B- /A4  100     -
Issuer Not Cooperating
--------------------------------------------------------------------------------------------
$: 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below