May 3, 2017 / 10:08 AM / 6 months ago

ICRA ratings for Indian debt instruments-May 3

   May 3 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 2, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Classic Auto Tubes Ltd                  ST: FB limits         ICRA A2+     7.5     Reaffirmed
Classic Auto Tubes Ltd                  ST: Non FB limits     ICRA A2+     100     Reaffirmed
Fortis Healthcare Holdings Pvt          CP/ST Debt Programme  ICRA A1;     5000    Reaffirmed
Ltd
Hcl Comnet Ltd                          ST non-FB Fac         ICRA A1+     2480    Reaffirmed
India Wealth Finance Ltd                CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
India Wealth Finance Ltd                CP programme          ICRA A1+     4000    Outstanding
India Wealth Management Ltd             CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
India Wealth Management Ltd             ST Debt programme     ICRA A1+     5000    Outstanding
Lemstone Ceramic Llp                    NFBL                  ICRA A4      34      Reaffirmed
Zenith Forge Pvt Ltd                    Non Fund- based – LOC ICRA A4      20      Reaffirmed
Zenith Forge Pvt Ltd                    Non Fund- based – BG  ICRA A4              Reaffirmed
Zenith Forge Pvt Ltd                    Non Fund- based –     ICRA A4      1       Reaffirmed
                                        Forward Contract Limit

LONG TERM RATINGS:
-------------------
Classic Auto Tubes Ltd                  LT: FB limits         ICRA A-      62.5    Reaffirmed
Classic Auto Tubes Ltd                  LT: TL                ICRA A-      510     Reaffirmed
Classic Auto Tubes Ltd                  LT: Unallocated limitsICRA A-      278.2   Reaffirmed
Fortis Healthcare Holdings Pvt          NCDs                  ICRA A       4900    Reaffirmed
Ltd
Fusion Microfinance Pvt Ltd             NCD Programme         ICRA BBB     325     Assigned
Hcl Comnet Ltd                          LT FB Fac             ICRA AA      975.8   Reaffirmed
Hcl Comnet Ltd                          LT/ST fund based &    ICRA AA      750     Reaffirmed
                                        non FB Fac
India Wealth Finance Ltd                NCD programme         ICRA AA      3000    Outstanding
India Wealth Finance Ltd                Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Wealth Finance Ltd                PP-MLD programme      PP-MLD       25500   Outstanding
                                                              ICRA AA
India Wealth Management Ltd             Secured NCD programme ICRA AA      1000    Outstanding
Jai Suspension Systems Llp              Fund based/ Non-fund  ICRA AA-     500     Reaffirmed
                                        based                 (SO) / ICRA
                                                              A1+(SO)
Lemstone Ceramic Llp                    CC Limits             ICRA BB-     72.5    Upgraded
                                                                                   from ICRA B+
Lemstone Ceramic Llp                    TL                    ICRA BB-     175     Upgraded
                                                                                   from ICRA B+
Rayat & Bahra Group Of                  Fund Based: TL        ICRA C       366.1   Upgraded;
Institutes: An Educational &                                                       Suspension
Charitable Society                                                                 revoked
Rayat & Bahra Group Of                  Fund Based: Overdraft ICRA C       360     Upgraded;
Institutes: An Educational &                                                       Suspension
Charitable Society                                                                 revoked
Rayat & Bahra Group Of                  Non - Fund Based: BG  ICRA C       32      Upgraded;
Institutes: An Educational &                                                       Suspension
Charitable Society                                                                 revoked
Rayat & Bahra Group Of                  Unallocated           ICRA C       21.9    Upgraded;
Institutes: An Educational &                                                       Suspension
Charitable Society                                                                 revoked
Rizon Laminates Pvt Ltd                 CC                    ICRA D       30      Reaffirmed
Rizon Laminates Pvt Ltd                 TL                    ICRA D       35.8    Reaffirmed
Rizon Laminates Pvt Ltd                 LOC-sublimit to CC    ICRA D               Assigned
Rizon Laminates Pvt Ltd                 Unallocated limits    ICRA D       68.7    Reaffirmed
Zenith Forge Pvt Ltd                    FB – TL               ICRA BB      39      Reaffirmed
Zenith Forge Pvt Ltd                    FB – CC               ICRA BB      72.5    Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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