April 28, 2017 / 10:30 AM / 4 months ago

ICRA ratings for Indian debt instruments-Apr 28

    Apr 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 27, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Kv Aromatics Pvt Ltd                    Fund Based, ST        ICRA A3+     1890    Revised from
                                                                                   ICRA A2
(reduced from 206.00 CR)
Kv Aromatics Pvt Ltd                    Non-fund Based, ST    ICRA A3+     80      Revised from
                                                                                   ICRA A2
(reduced from 9.00 CR)
Opg Business Centre Pvt Ltd             Non fund based Bk Fac ICRA A3      75      upgraded
                                                                                   from ICRA A4+

LONG TERM RATINGS:
-------------------
Bharat Gluco Industries (P)             LTFB                  ICRA BB+     75      -
Ltd.
Bhopal Dhule Transmission Co.           NCD                   -            2800    Withdrawn
Ltd
Bhopal Dhule Transmission Co.           NCDs (Proposed)       ICRA AAA     7200    Reaffirmed
Ltd
Bhopal Dhule Transmission Co.           Issuer Rating         IrAAA        -       Reaffirmed
Ltd
Canary Hotels                           TL                    ICRA A-(SO)  235.6   upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
(reduced from 25.0)
Canary Hotels                           LT/ ST borrowing      ICRA A-(SO)  14.4    upgraded
                                        (Unallocated)                              from ICRA
                                                                                   BBB+(SO)
Celsia Hotels                           TL                    ICRA A-(SO)  576.6   upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
(reduced from 59.72 cr)
Celsia Hotels                           LT/ ST borrowing      ICRA A-(SO)  20.6    upgraded
                                        (Unallocated)         / ICRA               from ICRA
                                                              A2+(SO)              BBB+(SO)/
                                                                                   Assigned
Fleur Hotels                            TL                    ICRA A-(SO)  1200    upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
Fleur Hotels                            Non fund based Bk Fac ICRA A-(SO)  100     upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
Hyacinth Hotels                         TL                    ICRA A-(SO)  749     upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
(reduced from 85.98)
Hyacinth Hotels                         TL                    ICRA A-(SO)  749     upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
(reduced from 85.98 CR)
Hyacinth Hotels                         LT/ ST borrowing      ICRA A-(SO)  281     upgraded
                                        (Unallocated)         / ICRA               from ICRA
                                                              A2+(SO)              BBB+(SO)/
                                                                                   ICRA A2(SO)
(increased from 17.02)
Hyacinth Hotels                         LT/ ST borrowing      ICRA A-(SO)  281     upgraded
                                        (Unallocated)         / ICRA               from ICRA
                                                              A2+(SO)              BBB+(SO)/
                                                                                   ICRA A2(SO)
(Increased from 17.02 CR)
Inovoa Hotels And Resorts               TL                    ICRA A-(SO)  350     upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
Keshri Export                           LT/ST – FBL           ICRA BBB- /  420     Withdrawn
                                                              ICRA A3
Keshri Export                           LT / ST – NFBL        ICRA BBB- /  46.8    Withdrawn
                                                              ICRA A3
Kv Aromatics Pvt Ltd                    FB, LT                ICRA BBB     80      Revised from
                                                                                   ICRA BBB+
Lemon Tree Hotels                       TL                    ICRA A-      950.4   upgraded
                                                                                   from ICRA
                                                                                   BBB+
(reduced from 99.60 CR)
Lemon Tree Hotels                       LT/ST: Fund based     ICRA A-      300     upgraded
                                        Working Capital       /ICRA A2+            from ICRA
                                                                                   BBB+(SO)/
                                                                                   ICRA A2
Lemon Tree Hotels                       LT/ST: Unallocated    ICRA A-      84.4    upgraded
                                                              /ICRA A2+            from ICRA
                                                                                   BBB+(SO) /
                                                                                   ICRA A2
(enhanced from 3.88 CR)
Opg Business Centre Pvt Ltd             FB – CC               ICRA BBB-    50      upgraded
                                                                                   from ICRA BB+
Opg Business Centre Pvt Ltd             FB – TL               ICRA BBB-    128.1   upgraded
                                                                                   from ICRA BB+
(revised from 15.77 CR)
Opg Business Centre Pvt Ltd             Unallocated           ICRA BBB- /  53.2    upgraded
                                                              ICRA A3              from ICRA
                                                                                   BB+ /ICRA A4+
(revised from 2.36 CR)
Sukhsagar Complexes Pvt Ltd             TL                    ICRA A-(SO)  424.2   upgraded
                                                                                   from ICRA
                                                                                   BBB+(SO)
(reduced from 45.00)
Sukhsagar Complexes Pvt Ltd             LT/ ST borrowing      ICRA A-(SO)  25.8    upgraded
                                        (Unallocated)         / ICRA               from ICRA
                                                              A2+(SO)              BBB+(SO)/
                                                                                   Assigned
--------------------------------------------------------------------------------------------
$: 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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