April 26, 2017 / 10:27 AM / 4 months ago

ICRA ratings for Indian debt instruments-Apr 26

    Apr 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 25, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adyar Gate Hotels Ltd                   ST – Non fund based   ICRA A3+    200     Revised from
                                                                                   ICRA A3+
Airports Authority Of India             CP (CP) Programme     ICRA A1+    7500    Reaffirmed
Janatha Fish Meal & Oil                 ST – non-fund based   ICRA A3+    30      Upgraded
Products                                                                           from ICRA A3
Power Grid Corporation Of               ST borrowing programmeICRA A1+    51000   Assigned /
India Ltd                                                                          Reaffirmed
(enhanced from Rs 4,600.00 crore)
Valencia Ceramic Pvt Ltd                NFBL                  ICRA A4     20.2    Reaffirmed
Vidya Polymer Pvt Ltd                   Non FB Limits         ICRA A4     15      Reaffirmed

LONG TERM RATINGS:
-------------------
Adyar Gate Hotels Ltd                   LT – TL               ICRA BBB-   3525    Revised from
                                                                                   ICRA BBB
(enhanced from Rs.305.53 crore)
Adyar Gate Hotels Ltd                   LT – Fund based       ICRA BBB-   300     Revised from
                                                                                   ICRA BBB
Adyar Gate Hotels Ltd                   LT – Proposed         ICRA BBB-   35      Revised from
                                                                                   ICRA BBB
(enhanced from Rs. 0.47 crore)
Airports Authority Of India             LT Debt/Bonds         ICRA AAA    26500   Reaffirmed
Airports Authority Of India             LT/ST Bk Limits       ICRA AAA /  5000    Reaffirmed
                                                              ICRA  A1+
Commercial Automobile Pvt Ltd           LT: FB limits         ICRA BB-    412     Reaffirmed
Commercial Automobile Pvt Ltd           LT: TL                ICRA BB-    70      Reaffirmed
Commercial Automobile Pvt Ltd           LT/ST: Unallocated    ICRA BB- /  242     Reaffirmed
                                        limits                ICRA A4
Gayatri Developwell                     FB – TL               ICRA D      135     Reaffirmed
Gayatri Developwell Pvt Ltd             FB – TL               ICRA D      135     Reaffirmed
Janatha Fish Meal & Oil                 LT – FB (CC)          ICRA BBB    332.5   Upgraded
Products                                                                           from
                                                                                   ICRA BBB-
Janatha Fish Meal & Oil                 LT – FB (TL)          ICRA BBB    40      Upgraded
Products                                                                           from
                                                                                   ICRA BBB-
Ksk Mineral Resources Pvt Ltd           TL                    ICRA D      361.1   Withdrawn
Ksk Mineral Resources Pvt Ltd           Unallocated           ICRA D      288.9   Reassigned
                                                                                   from
                                                                                   ICRA BB(SO) 
                                                                                   and withdrawn
Ksk Mineral Resources Pvt Ltd           TL                    ICRA D      4510    Reassigned
                                                                                   from
                                                                                   ICRA BB(SO) 
                                                                                   and withdrawn
Padmashree Inc                          FBL                   ICRA BB     250     Upgraded
                                                                                   from
                                                                                   ICRA BB-
Power Grid Corporation Of               LT bonds programme    ICRA  AAA   140000  Assigned
India Ltd                                                     (SO)
Power Grid Corporation Of               LT bonds              ICRA  AAA   724229.5Reaffirmed
India Ltd                                                     (SO)
(reduced from 85,962.70)
Power Grid Corporation Of               LT/ STFund based/ non ICRA  AAA   22000   Reaffirmed
India Ltd                               fund based            / ICRA  A1+
Power Grid Corporation Of               Working capital loan  ICRA AAA    3000    Reaffirmed
India Ltd
Power Grid Corporation Of               LT loans              ICRA AAA    253562.2Assigned /
India Ltd                                                                          Reaffirmed
(enhanced from Rs 13,356.22 crore)
Reliance Home Finance Ltd               PTC Series A          ICRA  AAA   855     confirmed as
                                                              (SO)                 final
Reliance Home Finance Ltd               PTC Series A          ICRA  AAA   987.4   confirmed as
                                                              (SO)                 final
Valencia Ceramic Pvt Ltd                FBL                   ICRA B+     72.3    Reaffirmed
Valencia Ceramic Pvt Ltd                Unallocated Limits    ICRA B+ /   47.1    Reaffirmed
                                                              ICRA A4
Vidya Polymer Pvt Ltd                   FB Limits             ICRA BB- /  80      Upgraded
                                                              ICRA B+             from ICRA B+
--------------------------------------------------------------------------------------------
$: 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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