May 2, 2017 / 10:12 AM / 4 months ago

ICRA ratings for Indian debt instruments-May 2

    May 2 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 28 and May 1, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anuh Pharma Ltd                         ST, non-fund based Bk ICRA A3+     700     Withdrawn
                                        Fac
Anuh Pharma Ltd                         ST, interchangeable   ICRA A3+             Withdrawn
                                        Fac^
^Sub-limit of long-term, fund-based facilities
Bulktainer Shipping Ltd                 Non FBL               ICRA A4      7.5     Reaffirmed
Cr Retail Malls (India) Ltd             CP programme (for IPO ICRA A1+     5000    Withdrawn
                                        Financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     35000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         ST Principal          PP-MLD       9000    Outstanding
                                        Protected Market      ICRA A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     30000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+;    1000    Outstanding
Ltd
Edelweiss Commodities Services          ST Principal          PP-MLD       5000    Outstanding
Ltd                                     Protected Market      ICRA A1+
                                        Linked Debenture Programme
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     35000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme          ICRA A1+;    50000   Outstanding
Ltd
Edelweiss Financial Services            ST NCD Programme      ICRA A1+;    1000    Outstanding
Ltd
Energy Efficiency Services Ltd          Fund based – ST       ICRA A1+     4000    Reaffirmed
Flow Link Systems Pvt Ltd               ST: Fund based        ICRA A2+             Reaffirmed
Flow Link Systems Pvt Ltd               ST: Non-fund based    ICRA A2+     30.5    Reaffirmed
Ginza Industries Ltd                    ST nonFBL             ICRA A2      110     Revised from
                                                                                   ICRA A2+
Infrastructure Leasing And              CP/ST Debt Programme  ICRA A1+     10000   Reaffirmed
Financial Services Ltd
Karikali Amman Spinning Mills           ST: Non-FBL           ICRA A4      50      Reaffirmed
Pvt Ltd
Kpr Agrochem Ltd                        LOC                   ICRA A3      1500    Revised from
                                                                                   ICRA A3+
Kpr Agrochem Ltd                        BG                    ICRA A3      15      Revised from
                                                                                   ICRA A3+
L&T Housing Finance Ltd                 CP Programme          ICRA A1+     5000    Outstanding
Parisons Infrastructure Pvt Ltd         ST- Non-FBL           ICRA A4      150     Reaffirmed
Prateek Apparels Pvt Ltd                ST- Non-FBL           ICRA A4      60      Reaffirmed
Prateek Apparels Pvt Ltd                ST- Bills of Purchase ICRA A4      50      Reaffirmed
Prateek Apparels Pvt Ltd                ST- Unallocated Limit ICRA A4      105.7   Reaffirmed
Sharekhan Financial Services            CP/ST debt programme  ICRA A1+     10000   Assigned
Pvt Ltd
Sharekhan Ltd                           ST debt programme     ICRA A1+     5000    Reaffirmed
Sify Technologies Ltd                   ST: Non-FB Fac (LC)   ICRA A1+     630     upgraded
Sify Technologies Ltd                   ST: CP programme      ICRA A1+     500     Assigned
                                        (proposed)

MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd                 Medium-Term Fixed     MAA+         1000    Outstanding
                                        Deposits
LONG TERM RATINGS:
-------------------
Anuh Pharma Ltd                         LT, FB Bk Fac         ICRA BBB     50      Withdrawn
Bulktainer Shipping Ltd                 FBL                   ICRA BB      50.8    Reaffirmed
Bulktainer Shipping Ltd                 Unallocated limit     ICRA BB /    41.7    Reaffirmed
                                                              ICRA A4 
Cr Retail Malls (India) Ltd             TL                    ICRA A       790     Outstanding
Cr Retail Malls (India) Ltd             Unallocated Limits    ICRA A       10      Outstanding
ECL Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
ECL Finance Ltd                         Subordinated Debt     ICRA AA      6500    Outstanding
                                        Programme
ECL Finance Ltd                         Bk Lines              ICRA AA      110000  Outstanding
                                                              /ICRA A1+
ECL Finance Ltd                         LT Principal          PP-MLD ICRA  13500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      47000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Edelweiss Financial Services            NCD Programme         ICRA AA      5000    Outstanding
Ltd
Energy Efficiency Services Ltd          Proposed NCD program  ICRA AA      5000    Reaffirmed
Energy Efficiency Services Ltd          NCD program           ICRA AA      5000    Reaffirmed
Energy Efficiency Services Ltd          TL                    ICRA AA      1000    Reaffirmed
Energy Efficiency Services Ltd          Unallocated limits    ICRA AA /A1+ 5000    Reaffirmed
Flow Link Systems Pvt Ltd               LT: TL                ICRA A-      185     Reaffirmed
Flow Link Systems Pvt Ltd               LT: PCFC              ICRA A-      310     Reaffirmed
Flow Link Systems Pvt Ltd               LT: CC                ICRA A-              Reaffirmed
Flow Link Systems Pvt Ltd               Unallocated facility  ICRA A-      20      Reaffirmed
Ginza Industries Ltd                    Long-TL               ICRA BBB+    810     Revised from
                                                                                   ICRA A-
Ginza Industries Ltd                    LT fund based         ICRA BBB+    900     Revised from
                                                                                   ICRA A-
Infrastructure Leasing And              LT – TL               ICRA AAA     3500    Assigned
Financial Services Ltd
Infrastructure Leasing And              NCD Programme         ICRA AAA     44750   Reaffirmed
Financial Services Ltd
Jabalpur Entertainment                  FB Limits             ICRA BB-     68.5    Reaffirmed
Complexes Pvt Ltd
Jabalpur Entertainment                  Unallocated           ICRA BB-     71.5    Reaffirmed
Complexes Pvt Ltd
Karikali Amman Spinning Mills           LT: FBL               ICRA BB-     95      Upgraded
Pvt Ltd                                                                            from ICRA B+
Karikali Amman Spinning Mills           LT/ST: Unallocated    ICRA BB-     79.9    Reaffirmed
Pvt Ltd                                 limits                /ICRA A4
KPR Agrochem Ltd                        CC                    ICRA BBB-    1990    Revised from
                                                                                   ICRA BBB
KPR Agrochem Ltd                        TL                    ICRA BBB-    1000    Revised from
                                                                                   ICRA BBB
KPR Agrochem Ltd                        Unallocated Limits    ICRA BBB-    495     Revised from
                                                                                   ICRA BBB
L&T Housing Finance Ltd                 Bk Lines              ICRA AA+     29000   Assigned
                                                              /ICRA A1+
L&T Housing Finance Ltd                 Perpetual Debt        ICRA]AA      1000    Outstanding
                                        Programme
L&T Housing Finance Ltd                 NCD Programme         ICRA]AA+     7500    Withdrawn
L&T Housing Finance Ltd                 NCD Programme         ICRA]AA+     42500   Outstanding
L&T Housing Finance Ltd                 Subordinated Debt     ICRA]AA+     3000    Outstanding
                                        Programme
MAA Mahamaya Industries Ltd             FB – CC               ICRA D       1492.3  Reaffirmed
MAA Mahamaya Industries Ltd             FB – TL               ICRA D       2822.3  Reaffirmed
MAA Mahamaya Industries Ltd             NFBL                  ICRA D /     230.2   Reaffirmed
                                                              ICRA D
MAA Mahamaya Industries Ltd             Unallocated           ICRA D /     5.2     Reaffirmed
                                                              ICRA D
Nuevo Polymers Pvt Ltd                  FB Limits             ICRA BB-/    300     Revised from
                                                              ICRA A4              ICRA B /
Pagro Foods Ltd                         Working capital Fac   ICRA B+      62.5    Withdrawn
Pagro Foods Ltd                         FB Fac                ICRA B+ /    127.5   Withdrawn
                                                              ICRA A4
Prateek Apparels Pvt Ltd                LT-CC                 ICRA BB-     624.3   Reaffirmed
Prateek Apparels Pvt Ltd                LT- Working Capital   ICRA BB-     200     Reaffirmed
                                        Demand Loan
Samhi Hotels Pvt Ltd                    FB – TL               ICRA BBB     640     Withdrawn
Sify Technologies Ltd                   LT: TL                ICRA A+      2051.8  Reaffirmed
Sify Technologies Ltd                   LT: FB Fac (CC)       ICRA A+      2250    Reaffirmed
Sify Technologies Ltd                   LT: Non-FB Fac (BG)   ICRA A+      2750    Reaffirmed
Sify Technologies Ltd                   LT: NCD programme     ICRA A+      500     Assigned
                                        (proposed)
Sify Technologies Ltd                   Long / ST: Non-FBL    ICRA A+ /    1120    Reaffirmed
                                        (LC)                  ICRA A1+
Silverglades Infrastructure             LT Non-fund based –BG ICRA BB      66.1    Reaffirmed
Pvt. Ltd.
Silverglades Infrastructure             LT – Unallocated      ICRA BB      1.4     Reaffirmed
Pvt. Ltd.
Skoda Auto India Pvt Ltd                Fund Based/ NFBL      ICRA AA+ /   3350    Assigned /
                                                              ICRA A1+             Outstanding
Sravan Ftwz Pvt Ltd                     Unallocated Limits    ICRA BB-     500     Assigned
Srei Infrastructure Finance Ltd         Subordinated NCD      ICRA A+      500     Withdrawn
                                        programme
Sumeet Industries Ltd                   NCD                   ICRA BB+     200     Assigned
Volkswagen Group Sales India            Fund Based/NFBL       ICRA AA+ /   7390    Assigned /
Pvt Ltd                                                       ICRA A1+             Outstanding
Volkswagen India Pvt Ltd                Fund Based/ NFBL      ICRA]AA+ /   15330   Assigned /
                                                              ICRA A1+             Outstanding
Woolways (India) Ltd                    Long/ST Fund based    ICRA D /     100     Revised from
                                                              ICRA D               ICRA BB-
                                                                                   /ICRA A4
--------------------------------------------------------------------------------------------
$: 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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