February 15, 2017 / 10:41 AM / 6 months ago

ICRA ratings for Indian debt instruments-Feb 15

    Feb 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 14, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ambey Metallic Ltd                      Non-FBL               ICRA A4      243.5   Reaffirmed
Celestial Knits & Fabs Pvt Ltd          ST FB                 ICRA A4      45      Reaffirmed
Celestial Knits & Fabs Pvt Ltd          ST Non-fund based     ICRA A4      21      Reaffirmed
Chowgule Industries Pvt Ltd             ST, FBL               ICRA A1      320     Reaffirmed
Chowgule Industries Pvt Ltd             ST, NFBL              ICRA A1      5       Reaffirmed
Delta Infralogistics                    ST - Fund Based - SLC ICRA A3      30      Reaffirmed
(Worldwide) Ltd
Delta Infralogistics                    ST - Non Fund Based - ICRA A3      70      Reaffirmed
(Worldwide) Ltd                         BG
Dsm Soft Pvt Ltd                        ST: FBL               ICRA A4      -       Withdrawn
(Revised from 4.0crs)
Ferro Alloys Corporation Ltd            Non-fund based Bk Fac ICRA A4      604.9   Upgraded
                                        (Working Capital)                          from ICRA D
increased from Rs. 54.00 crore
Jambuwala Commodities Pvt Ltd           ST Bk lines           ICRA A4      400     Reaffirmed
Kuna Impex Pvt Ltd                      Non-FBL               ICRA A4      45      Reaffirmed
Manoj Trading Company                   FB - Cheques/ DD      ICRA A4      10      Reaffirmed
                                        purchases (Sublimit)
Panache Exports Pvt Ltd                 ST: FBL               ICRA A4      210     Reaffirmed
                                                                                   /Assigned
(enhanced from Rs. 18.00crs)
Panache Exports Pvt Ltd                 ST: Non -FBL          ICRA A4      55      Reaffirmed
                                                                                   /Assigned
(enhanced from Rs. 5.00crs)
R. D. Exports                           ST – FB / Non-FBL     ICRA A4      60*     Reaffirmed
*consists of packing credit limits interchangeable with Foreign Bills Negotiation (FBN)/Foreign
Bills Discounting(FBD)/Foreign Bills Purchase (FBP)/Advance against Foreign Bills Sent for
Collection (AAFBSC)
 Rural Electrification                   ST borrowing          ICRA A1+     70000*  assigned
Corporation Ltd                         programme FY2017
*Short- term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2017 not exceeding Rs. 42,000 crore
Sundaram Finance Ltd                    CP                    ICRA A1+     27500   Outstanding
Umsl Ltd                                ST Non-FBL            ICRA A2+     350     Reaffirmed
(enhanced from Rs. 25.00 crore)
Wohr Parking Systems Pvt Ltd            ST, non -fund based   ICRA A4+     90      Reaffirmed
                                                                                   /Assigned
(enhanced from Rs. 7.50 crore)
Yamuna Power And                        ST, Non-FBL           ICRA A3      365     Reaffirmed
Infrastructure Ltd

MEDIUM TERM RATINGS:
-------------------
Sundaram Finance Ltd                    Fixed Deposits        MAAA                 Outstanding
    
LONG TERM RATINGS:
-------------------
Ambey Metallic Ltd                      FB limits             ICRA B+      56.5    Reaffirmed
Barbrik Project Ltd.                    FBL – TL              ICRA BBB+    135     Assigned
Barbrik Project Ltd.                    FBL – CC              ICRA BBB+    160     Assigned
Barbrik Project Ltd.                    NFBL –BG              ICRA BBB+    115     Assigned
Celestial Knits & Fabs Pvt Ltd          LT FB – CC            ICRA BB-     34      Reaffirmed
Chowgule Industries Pvt Ltd             LT, FBL – CC          ICRA A       130     Reaffirmed
Chowgule Industries Pvt Ltd             LT, FBL – TL          ICRA A       75.6    Reaffirmed
Delta Infralogistics                    LT - Fund Based - CC  ICRA BBB-    200     Reaffirmed
(Worldwide) Ltd
Dsm Soft Pvt Ltd                        LT: FBL               ICRA B+      140     Reaffirmed
(Revised from 10.0crs)
Facor Alloys Ltd                        FB Fac (Working       ICRA D       281.6   Reaffirmed
                                        Capital)
(decreased from Rs. 28.90 crore)
Facor Alloys Ltd                        Non-fund based Bk Fac ICRA D       335.3   Reaffirmed
                                        (Working Capital)
(decreased from Rs. 34.00 crore)
Facor Alloys Ltd                        Unallocated           ICRA D       12.1    Assigned
Ferro Alloys Corporation Ltd            Fund Based Bk Fac     ICRA C       55      Upgraded
                                        (TL)                                       from ICRA D
reduced from Rs. 65.00 crore
Ferro Alloys Corporation Ltd            FB Fac (Working       ICRA C       439     Upgraded
                                        Capital)                                   from ICRA D
Finestar Jewellery & Diamonds           LT and ST: FB Limit   ICRA BB+ /   300     Reaffirmed
Pvt Ltd                                                       ICRA A4+
Geetanjali Agro Industries              LT-CC                 ICRA B+      92.5    Reaffirmed
reduced from 9.30 cr
Geetanjali Agro Industries              LT- TL                ICRA B+      6.6     Reaffirmed
reduced from 1.13 cr
Geetanjali Agro Industries              LT- Unallocated Limit ICRA B+      30.9    Reaffirmed
enahnced from 2.57 cr
Goldstar Metal Solutions Pvt            CC **                 ICRA D       100     Reaffirmed
Ltd
**Sublimit of Packing Credit
Goldstar Metal Solutions Pvt            Packing Credit        ICRA D       100     Reaffirmed
Ltd
Gulbarga Electricity Supply             TL                    ICRA BBB-    653     Reaffirmed
Co. Ltd
Gulbarga Electricity Supply             FBL                   ICRA BBB-    1000    Reaffirmed
Co. Ltd
Kuna Impex Pvt Ltd                      FB Limits             ICRA B+      54.8    Reaffirmed
Mahima Real Estate Pvt Ltd              FBL/ TL               ICRA BBB+    700     Reaffirmed
(enhanced from 60.0crs)
Manoj Trading Company                   FB - CC limits        ICRA B+      300     Reaffirmed
Nirmal Ujjwal Credit                    LT Bk Lines           ICRA BB      300     Assigned
Co-Operative Society Ltd
Panache Exports Pvt Ltd                 LT: FBL               ICRA B+      70      Revised from
                                                                                   ICRA BB-
Prashanth Educational Society           TL                    ICRA BB-     46      Upgraded
                                                                                   from ICRA B+
Prashanth Educational Society           Unallocated           ICRA BB-     24      Upgraded
                                                                                   from ICRA B+
Rural Electrification                   Overall borrowing     -            420000* -
Corporation Ltd                         programme FY2017
*Short- term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2017 not exceeding Rs. 42,000 crore
Rural Electrification                   LT borrowing          ICRA AAA     350000* assigned
Corporation Ltd                         programme FY2017
*Short- term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2017 not exceeding Rs. 42,000 crore
Rural Electrification                   Rated long- term/ST   ICRA AAA /   2059310 Reaffirmed
Corporation Ltd                         borrowing programme   ICRA A1+
                                        of previous FYs
Sant Foods Pvt Ltd                      FB Limits             ICRA B       150     Reaffirmed
Star Automobiles                        LT: FB limits         ICRA BBB-    250     Reaffirmed
Star Automobiles (Mp) Ltd               LT: FB limits         ICRA BB+     100     Reaffirmed
Sundaram Finance Ltd                    FBL from Bks          ICRA AA+     22500   Assigned
                                                                                   /outstanding
Enhanced from 1,800 cr
Sundaram Finance Ltd                    Non-FBL from Bks      ICRA AA+     80.8    Reaffirmed
                                                                                   /Outstanding
Sundaram Finance Ltd                    NCDs                  ICRA AA+     50563   Outstanding
Sundaram Finance Ltd                    NCDs                  ICRA AA+     21051   Withdrawn
Sundaram Finance Ltd                    Subordinated Debt     ICRA AA+     9571    Outstanding
Sundaram Finance Ltd                    Subordinated Debt     ICRA AA+     1500    Withdrawn
Suntana Textile Mills Pvt Ltd           FBL                   ICRA B-      129.5   Reaffirmed
                                                              /ICRA A4
Svm Cera Ltd                            CC                    ICRA D       55      Reaffirmed
Svm Cera Ltd                            LOC                   ICRA D       28      Reaffirmed
Svm Cera Ltd                            BG#                   ICRA D       5       Reaffirmed
* Issuer did not co-operate; Based on best available information.
Ujjivan Financial Services              PTC Series A2         ICRA AA-(SO) 16.8    Withdrawn
Ltd(Saika Ifmr
Capital 2016)
Ujjivan Financial Services              PTC Series A1         ICRA AA+(SO) 500     Withdrawn
Ltd(Saika Ifmr
Capital 2016)
Umsl Ltd                                FBL                   ICRA A-      800     Reaffirmed
(enhanced from Rs. 65.00 crore)
Umsl Ltd                                LT Non-FBL            ICRA A-      700**   Reaffirmed
**Rs 20 crore is fully interchangeable with fund based limits/ (enhanced from Rs. 40.00 crore)
Wohr Parking Systems Pvt Ltd            LT /ST Unallocated    -            -       -
Wohr Parking Systems Pvt Ltd            LT, FBL – CC          ICRA BB+     40      Reaffirmed
Wohr Parking Systems Pvt Ltd            LT, FBL – TL          ICRA BB+     10      Reaffirmed
(reduced from Rs. 1.30 crore)
Wohr Parking Systems Pvt Ltd            LT /ST InterchangeableICRA BB+     15#     Reaffirmed
                                        (PC/FC)               /A4+                 /Assigned
(enhanced from Rs. 1.00 crore) /# Long term-short term interchangeable limit of Rs 1.50 crore is
sublimit of Long term fund based-Cash Credit of Rs 4.00 crore.
Yamuna Power And                        LT, FBL               ICRA BBB-    320.3   Reaffirmed
Infrastructure 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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