May 17, 2017 / 10:23 AM / 3 months ago

ICRA ratings for Indian debt instruments-May 17

    May 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 16, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Barclays Bank Plc                       PTC Series A1         ICRA A1+     2356.6  Withdrawn
Blue Dart Express Ltd                   CP                    ICRA A1+     250     Reaffirmed
H. D. Enterprises                       BG                    ICRA A4      250     Reaffirmed
Iifl Facilities Services Ltd            IPO financing         ICRA A1+     8000    Assigned
                                        programme
Iifl Facilities Services Ltd            ST debt programme     ICRA A1+     7000    Outstanding
Iifl Facilities Services Ltd            IPO financing         ICRA A1+     12000   Outstanding
                                        programme
Kmct Group Of Institutions              Non FBL               ICRA A4      10      Revised from
                                                                                   ICRA D
Prathista Industries Ltd                NFBL                  ICRA A4      80      Reaffirmed
Shiny Shipping & Logistics Pvt          Non FB Limits         ICRA A3      168     Reaffirmed
Ltd
Signature Ceramic Pvt Ltd               BG                    ICRA A4      14      Reaffirmed


LONG TERM RATINGS:
-------------------
Blue Dart Aviation Ltd                  LT, FBL               ICRA AA      100     Reaffirmed
Blue Dart Aviation Ltd                  LT / ST, non-FBL      ICRA AA /    600     Reaffirmed
                                                              A1+
Blue Dart Express Ltd                   NCD (NCD)             ICRA AA      3322    Reaffirmed
Blue Dart Express Ltd                   LT / ST, FBL          ICRA AA /    300     Reaffirmed
                                                              A1+
Blue Dart Express Ltd                   LT / ST, non-FBL      ICRA AA /    61.5    Reaffirmed
                                                              A1+
Disha Microfin Pvt Ltd                  PTC Series A2         ICRA BB      6.7     Withdrawn
Disha Microfin Pvt Ltd                  PTC Series A1         ICRA BBB+    70.8    Withdrawn
Gokul Cotton Industries                 Fund Based – CC       ICRA B       90      Reaffirmed
Gokul Cotton Industries                 Fund Based – TL       ICRA B       10      Reaffirmed
Gokul Cotton Industries                 Unallocated Limits    ICRA B       100     Reaffirmed
H. D. Enterprises                       CC                    ICRA B+      75      Downgraded
                                                                                   from  ICRA BB
H. D. Enterprises                       TL                    ICRA B+      125     Downgraded
                                                                                   from  ICRA BB
Hinduja Foundries Ltd                   TL Fac                ICRA BBB     3300    Withdrawn
Hinduja Foundries Ltd                   External commercial   ICRA BBB     -       Withdrawn
                                        borrowing
Iifl Facilities Services Ltd            Unsecured debt        ICRA AA      500     Outstanding
                                        programme
Iifl Facilities Services Ltd            LT debt programme     ICRA AA      7000    Outstanding
Kmct Group Of Institutions              FBL                   ICRA B+      320     Revised from
                                                                                   ICRA D
Kmct Group Of Institutions              Unallocated           ICRA B+      170     Revised from
                                                                                   ICRA D
Magma Fincorp Ltd                       Liquidity Facility    Provisional  6       Assigned
                                                              ICRA AAA
Magma Fincorp Ltd                       Second Loss Facility  Provisional  24.9    Assigned
                                                              ICRA BBB-
Magma Fincorp Ltd                       PTC Series A1         Provisional  333.6   Assigned
                                                              ICRA AA
Magma Fincorp Ltd                       PTC Series A2         Provisional  10.3    Assigned
                                                              ICRA AA
Marvel Dyers And Processors             LT – TL               ICRA BB-     35      Reaffirmed
Pvt Ltd
Marvel Dyers And Processors             Long -term – CC       ICRA BB-     65      Reaffirmed
Pvt Ltd
Prathista Industries Ltd                FB – TL               ICRA BB      146.9   Reaffirmed
Prathista Industries Ltd                FB – CC               ICRA BB      150     Reaffirmed
Prathista Industries Ltd                Unallocated           ICRA BB /A4  143.1   Reaffirmed
Shiny Shipping & Logistics Pvt          FB Limits             ICRA BBB-    175     Reaffirmed
Ltd
Shivam Concrete Technology &            FB – CC               ICRA BB-     42      Reaffirmed
Consultancy Pvt Ltd
Shivam Concrete Technology &            FB – TL               ICRA BB-     12.5    Reaffirmed
Consultancy Pvt Ltd
Shivam Concrete Technology &            Non- fund based – BG  ICRA BB-     60      Reaffirmed
Consultancy Pvt Ltd
Shivam Concrete Technology &            Unallocated Limits    ICRA BB-     5       Reaffirmed
Consultancy Pvt Ltd
Shubham Housing Development             PTC Series A1         ICRA A+      140.5   Upgraded
Finance Company Pvt Ltd                                                            from ICRA A
Shubham Housing Development             PTC Series A2         ICRA BB+     2.2     Reaffirmed
Finance Company Pvt Ltd
Shubham Housing Development             PTC Series A2         ICRA BBB     8.3     Upgraded
Finance Company Pvt Ltd                                                            from
                                                                                   ICRA BBB-
Shubham Housing Development             PTC Series A1         ICRA BBB+    99.4    Reaffirmed
Finance Company Pvt Ltd
Signature Ceramic Pvt Ltd               CC                    ICRA B+      30      Reaffirmed
Signature Ceramic Pvt Ltd               TL                    ICRA B+      17.9    Reaffirmed
Sunshine Builders                       LT - Fund based – TL  ICRA B+      100     Reaffirmed
Utkarsh Micro Finance Ltd               PTC Series A1         ICRA A       520.3   Reaffirmed
Utkarsh Micro Finance Ltd               PTC Series A          ICRA A       528     Reaffirmed
Vaishnavi Biotech Ltd                   FB – TL               ICRA BB-     80      Reaffirmed
Vaishnavi Biotech Ltd                   FB – CC               ICRA BB-     70      Reaffirmed
Vaishnavi Biotech Ltd                   Unallocated           ICRA BB- /   130     Reaffirmed
                                                              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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