May 22, 2017 / 10:30 AM / 3 months ago

ICRA ratings for Indian debt instruments-May 22

   May 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 19, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------

SHORT TERM RATINGS:
-------------------
Amn Jewellers Pvt Ltd                   ST: FB sub-limits     ICRA A3              Withdrawn
Indira Damper Industries                ST: Non-fund based    ICRA A4+;    130     Outstanding
Lv Enterprises Pvt Ltd                  Non Fund Based – BG   ICRA A4      30      Reaffirmed
Meltroll Engineering Pvt Ltd            Fund Based – Bill     ICRA A4      32.5    Reaffirmed
                                        Discounting Limits
Meltroll Engineering Pvt Ltd            Fund Based – Packing  ICRA A4      32.5    Reaffirmed
                                        Credit Limits
Standard Consultants Ltd                ST – Non Fund Based   ICRA A4      150     Reaffirmed
Sundaram Finance Ltd                    CP                    ICRA A1+     27500   Outstanding
Syscon Engineers                        Non Fund Based        ICRA A4      17.5    Reaffirmed
Limtex Agri Udyog Ltd                   Non FB Limit- LOC     ICRA D       80      downgraded
                                                                                   from ICRA A4+
Tata Asset Management Ltd               Tata Liquid Fund      ICRA A1+mfs          Reaffirmed
Tata Asset Management Ltd               Tata Money Market FundICRA A1+mfs          Reaffirmed
Tata Asset Management Ltd               Tata Liquidity        ICRA A1+mfs          Reaffirmed
                                        Management Fund

MEDIUM TERM RATINGS:
-------------------
Bharat Insulation Company               Medium Term Fixed     MA-          54.8    Reaffirmed
(India) Ltd                             Deposits Programme
Sundaram Finance Ltd                    Fixed Deposits        MAAA                 Outstanding

LONG TERM RATINGS:
-------------------
Amn Jewellers Pvt Ltd                   LT: FB Fac            ICRA BBB-    100     Withdrawn
Clean Solar Power (Dhar) Pvt.           TL                    ICRA A-      1410    upgraded
Ltd.                                                                               from ICRA
                                                                                   BBB+
Clean Solar Power (Dhar) Pvt.           Fund based            ICRA A-      50      Upgraded
Ltd.
Dewan Housing Finance                   Purchaser Payouts     ICRA AAA(SO)         Reaffirmed
Corporation Ltd.- Dhfl
Mortgage Loan Pool D.A.
Feb-12 II
Dewan Housing Finance                   Purchaser Payouts     ICRA AAA(SO)         Reaffirmed
Corporation Ltd. Dhfl
Mortgage Loan Pool D.A.
Feb-12

Dewan Housing Finance                   Purchaser Payouts     ICRA AAA(SO)         Reaffirmed
Corporation Ltd. -Dhfl
Mortgage Loan Pool D.A.
Jan-12
Dewan Housing Finance                   PTC Series A2         ICRA A(SO)           Reaffirmed
Corporation Ltd. -Nirmaan
RMBS Trust-Series-I-2013

Dewan Housing Finance                   PTC Series A1         ICRA AAA(SO)         Reaffirmed
Corporation Ltd. -Nirmaan
RMBS Trust-Series-I-2013

Fortune Foam Pvt. Ltd                   TL                    ICRA B+      240     Reaffirmed
Fortune Foam Pvt. Ltd                   CC                    ICRA B+      75      Reaffirmed
Fortune Foam Pvt. Ltd                   Unallocated           ICRA B+      5       Reaffirmed
                                                              /ICRA A4
Indira Damper Industries                LT: FB - Cash-credit  ICRA BB+     60      Outstanding
Limtex Agri Udyog Ltd                   FB Limit- CC          ICRA D       250     Downgraded
                                                                                   from ICRA B+
Limtex Agri Udyog Ltd                   Non -FB Limit- BG     ICRA D       5       Downgraded
                                                                                   from ICRA B+
LV Enterprises Pvt Ltd                  CC                    ICRA BB-     63      Reaffirmed
LV Enterprises Pvt Ltd                  TL                    ICRA BB-     64.6    Reaffirmed
LV Enterprises Pvt Ltd                  Unallocated Limits    ICRA BB-     42.4    Reaffirmed
                                                              /ICRA A4
Meltroll Engineering Pvt Ltd            Fund Based – CC LimitsICRA BB-     20      Revised from
                                                                                   ICRA BB
Meltroll Engineering Pvt Ltd            Non-FBL               ICRA BB-     40.2    Revised from
                                                                                   ICRA BB
National Bank For Agricultural          LT bonds programme    ICRA AAA     44800   Reaffirmed
And Rural Development
National Bank For Agricultural          LT bonds programme    ICRA AAA     35200   Withdrawn
And Rural Development
Phillips Carbon Black Ltd               TL                    ICRA A+      4000    Assigned
Shanti Developers                       FB – TL               ICRA C       74      Reaffirmed
Standard Consultants Ltd                LT – CC               ICRA B+      70      Reaffirmed
Sundaram Finance Ltd                    Subordinated Debt     ICRA AA+     3000    Assigned
Sundaram Finance Ltd                    LT Loans from Bks     ICRA AA+     10000   Outstanding
Sundaram Finance Ltd                    FBL from Bks          ICRA AA+     22500   Outstanding
Sundaram Finance Ltd                    Non-FBL from Bks      ICRA AA+     80.8    Outstanding
Sundaram Finance Ltd                    NCDs                  ICRA AA+     50563.* Outstanding
*outstanding as on February 13, 2017
Sundaram Finance Ltd                    Subordinated Debt     ICRA AA+     9571*   Outstanding
*outstanding as on February 13, 2017
Syscon Engineers                        Fund Based - CC       ICRA BB      55      Reaffirmed
Tata Asset Management Ltd               Tata Ultra ST Fund    ICRA AAAmfs          Reaffirmed
                                        (erstwhile Tata
                                        Floater Fund
Tata Asset Management Ltd               Tata LT Debt Fund     ICRA AAAmfs          Reaffirmed
                                        (erstwhile Tata
                                        Income Fund)
Tata Asset Management Ltd               Tata Dynamic Bond FundICRA AAAmfs          Reaffirmed
Tata Asset Management Ltd               Tata ST Bond Fund     ICRA AAAmfs          Reaffirmed
Tata Asset Management Ltd               Tata Corporate Bond   ICRA AAAmfs          Withdrawn
                                        Fund (erstwhile Tata
                                        Treasury Manager Fund)
Tower Vision India Pvt Ltd              Long-TL               ICRA A-      11700   Assigned
Varam Capital Pvt Ltd                   TL                    ICRA BB      1000    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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