May 16, 2017 / 10:36 AM / in 2 months

ICRA ratings for Indian debt instruments-May 16

13 Min Read

    May 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 15, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Agra Products Pvt Ltd                   Short- term -Fund     ICRA A4      310     Reaffirmed
                                        based - PCFC
Bygging India Ltd                       ST Non-FBL            ICRA A4+     760     Revised from
                                                                                   ICRA BBB-
Global Polybags Industries Pvt          ST FB Fac             ICRA A4      650     Reaffirmed
Ltd
Global Polybags Industries Pvt          ST non FB Fac         ICRA A4      610     Reaffirmed
Ltd
J.P. Engineers Pvt Ltd                  Non-FBL               ICRA A4+     1300    Downgraded
                                                                                   from ICRA A3
(earlier 110.0 CR)
Jai Shiv Food Products Pvt Ltd          ST non-fund based     ICRA A4      0.1     Reaffirmed
Jai Shiv Food Products Pvt Ltd          ST FB                 ICRA A4      5       Reaffirmed
Krishna Transnational Marbles           ST- Non-FB Fac        ICRA A4+     30      Assigned
Pvt Ltd
L&T Krishnagiri Walajahpet              EL Rating on TL       INFRA EL 1   9855.8  Assigned
Tollway Ltd
Mfar Constructions Pvt Ltd              Non FB limits         ICRA A4+     1260    Reaffirmed
Perth Ceramic Pvt Ltd                   Non FB – Letter of    ICRA A4      60      Reaffirmed
                                        Guarantee
Polestar Traders Pvt Ltd                Non FBL               ICRA D       15      Revised from
                                                                                   ICRA A4
Ronch Polymers Pvt Ltd                  NFBL                  ICRA A2+     124     Withdrawn
Smw Metal Pvt Ltd                       Non-FBL               ICRA A4+     350     Downgraded
                                                                                   from ICRA A3
(earlier 55.0 CR)
Unimed Health Care Pvt Ltd              ST – Fund Based       ICRA A3+     140     Reaffirmed
Unimed Health Care Pvt Ltd              ST – Fund Based       ICRA A3+     140     Reaffirmed
Unique Multifilms Virudhunagar          ST non FB Fac         ICRA A4      150     Reaffirmed
Pvt Ltd
Welcome Distilleries Pvt Ltd            Non FB Limit- BG      ICRA A4+     20      Downgraded
                                                                                   from ICRA A3
Zuberi Engineering Company              ST non-fund based     ICRA A4      650     Reaffirmed

LONG TERM RATINGS:
-------------------
Agra Products Pvt Ltd                   LT - Fund based - CC  ICRA BB      30      Reaffirmed
Agra Products Pvt Ltd                   LT – Unallocated      ICRA BB      10      Reaffirmed
Bygging India Ltd                       LT FBL                ICRA BB+     245     Revised from
                                                                                   ICRA BBB-
Bygging India Ltd                       LT and ST -           ICRA BB+ /   205     Revised from
                                        Un-allocated limits   ICRA A4+             ICRA
                                                                                   BBB-(Stable)
/ ICRA A3
E.S.S.M Educational &                   FB – TL               ICRA BB      76      Downgraded
Charitable Trust                                                                   from ICRA BB+
E.S.S.M Educational &                   FB – Overdraft Limits ICRA BB      4       Downgraded
Charitable Trust                                                                   from ICRA BB+
E.S.S.M Educational &                   Unallocated           ICRA BB      20      Downgraded
Charitable Trust                                                                   from ICRA BB+
Global Polybags Industries Pvt          TL                    ICRA BB-     120     Reaffirmed
Ltd
Hazaribagh Ranchi Expressway            TL                    ICRA AA-     4361.4  Withdrawn
Ltd
Indiabulls Housing Finance Ltd.         Innovation Trust XX   ICRA AAA(SO) 3151.7  Upgraded
                                        42808                                      from ICRA
                                                                                   AA+(SO)
J.P. Engineers Pvt Ltd                  FBL                   ICRA BB+     150     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Jai Shiv Food Products Pvt Ltd          LT FB                 ICRA B       155     Reaffirmed
Krishna Transnational Marbles           LT- CC                ICRA BB+     50      Assigned
Pvt Ltd
Krishna Transnational Marbles           LT- Unallocated LimitsICRA BB+     50      Assigned
Pvt Ltd
Limtex India Ltd                        FB – TL               ICRA D       9.2     Reaffirmed
Limtex India Ltd                        FB – CC               ICRA D       130     Reaffirmed
Limtex India Ltd                        FB – Standby Line of  ICRA D       120     Reaffirmed
                                        Credit
Limtex India Ltd                        Fund based – Packing  ICRA D       430     Reaffirmed
                                        Credit
Limtex India Ltd                        Non fund based – Bill ICRA D       198.4   Reaffirmed
                                        Discounting
Madhucon Agra Jaipur                    FB Fac (TL)           ICRA AA-     2080    Outstanding
Expressways Ltd
Madhucon Agra Jaipur                    TL (from SBI-led      ICRA D       2300    Withdrawn
Expressways Ltd                         consortium)
Mfar Constructions Pvt Ltd              FB – CC               ICRA BB+     770     Reaffirmed
Mp Agro Brk Energy Foods Ltd            LT FB                 ICRA BB      90      Reaffirmed
Ocean Pearl Hotels Pvt Ltd              LT FB                 ICRA BB-     620     Assigned
Ocean Pearl Hotels Pvt Ltd              LT/ST-Unallocated     ICRA BB- /   30      Assigned
                                                              ICRA A4
Perth Ceramic Pvt Ltd                   FB – CC               ICRA BB-     125     Upgraded
                                                                                   from ICRA B+
Perth Ceramic Pvt Ltd                   FB – TL               ICRA BB-     189.4   Upgraded
                                                                                   from ICRA B+
Perth Ceramic Pvt Ltd                   Unallocated Limits    ICRA BB-     140.6   Upgraded
                                                                                   from ICRA B+
Polestar Traders Pvt Ltd                FBL                   ICRA D       80      Revised from
                                                                                   ICRA B-
Ronch Polymers Pvt Ltd                  FB - TL               ICRA BBB+    566     Withdrawn
Ronch Polymers Pvt Ltd                  FB – CC               ICRA BBB+    450     Withdrawn
Ronch Polymers Pvt Ltd                  Unallocated           ICRA BBB+    10      Withdrawn
Sai Krishna Developers                  LT –TL                ICRA D       150     Revised from
                                                                                   ICRA BB-
Sanghi Jewellers Pvt Ltd                FBL                   ICRA BBB-    620     Reaffirmed
Sanghi Jewellers Pvt Ltd                Unallocated Limits    ICRA BBB-    10      Reaffirmed
Shalibhadra Finance Ltd                 FB – CC               ICRA BBB-    125     Reaffirmed
Smw Metal Pvt Ltd                       FBL                   ICRA BB+     50      Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Speedage Trade Ltd                      Proposed NCDs         ICRA B       600     Withdrawn
Subhamasthu Shopping Mall               FB – CC               ICRA B+      65      Reaffirmed
Unimed Health Care Pvt Ltd              Inter-changeable Bk   -            -       -
                                        Fac
(revised from 7.00
Unimed Health Care Pvt Ltd              LT – TL               ICRA BBB     525.1   Reaffirmed
(revised from 62.00)
Unimed Health Care Pvt Ltd              LT – Unallocated      ICRA BBB     24.9    Reaffirmed
Unimed Health Care Pvt Ltd              LT – TL               ICRA BBB     525.1   Reaffirmed
(revised from 62.00)
Unimed Health Care Pvt Ltd              LT – Unallocated      ICRA BBB     24.9    Reaffirmed
Unique Multifilms Virudhunagar          LT FB Fac             ICRA BB-     25      Reaffirmed
Pvt Ltd
Welcome Distilleries Pvt Ltd            FB Limit- CC          ICRA BB+     150     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Welcome Distilleries Pvt Ltd            FB Limit- Standby     ICRA BB+     18      Downgraded
                                        line of credit                             from ICRA
                                                                                   BBB-
Welcome Distilleries Pvt Ltd            Untied limits         ICRA BB+ /   132     Downgraded
                                                              ICRA A4+             from ICRA
                                                                                   BBB- /ICRA A3
Zuberi Engineering Company              LT FB                 ICRA BB-     80      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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