May 23, 2017 / 10:36 AM / 2 months ago

ICRA ratings for Indian debt instruments-May 23

13 Min Read

    May 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 22, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharat Aluminium Co. Ltd                Non-FB Fac            ICRA A1+     26500   Revised from
                                                                                   ICRA A+
Bharat Aluminium Co. Ltd                CP                    ICRA A1+     7500    Revised from
                                                                                   ICRA A+
Central Bank Of India                   Corporate Governance  CGR3+        -       Reaffirmed
                                        Practices
Ghaziabad Mechfab Pvt Ltd               Non-FBL               ICRA A4      60      Reaffirmed
Mahindra & Mahindra Ltd                 ST, non-FB Fac        ICRA A1+     1320    Reaffirmed
Neelkamal Steels Pvt Ltd                NFBL- LOC             ICRA A3      50      Reaffirmed
Saheli Exports Pvt Ltd                  Non-FBL               ICRA A4      27      revised from
                                                                                   ICRA A3+
Sangam Fashions Pvt Ltd                 ST Non Fund Based: BG ICRA A4      4.3     Reaffirmed
Sarveshwari Exports Pvt Ltd             Forward Contract      ICRA A4      3.8     Assigned
Sarveshwari Exports Pvt Ltd             Untied Limit          ICRA A4      1.7     Assigned
Tata Advanced Materials Ltd             CP Programme          ICRA A1+     500     Reaffirmed


LONG TERM RATINGS:
-------------------
Ashok Bricks Industries Pvt Ltd         TL                    ICRA BB-     4.7     Reaffirmed
Ashok Bricks Industries Pvt Ltd         CC                    ICRA BB-     100     Reaffirmed
Ashok Bricks Industries Pvt Ltd         Standby Line of       ICRA BB-     15      Reaffirmed
                                        Credit
Ashok Bricks Industries Pvt Ltd         BG                    ICRA BB- /   200     Reaffirmed
                                                              A4
Ashok Bricks Industries Pvt Ltd         Unallocated Limit     ICRA BB- /   0.3     Reaffirmed
                                                              A4
Bharat Aluminium Co. Ltd                External Commercial   ICRA AA-     -       Revised from
                                        Borrowings                                 ICRA A+
Bharat Aluminium Co. Ltd                TL                    ICRA AA-     25000   Revised from
                                                                                   ICRA A+
Bharat Aluminium Co. Ltd                FB Fac                ICRA AA-     5000    Revised from
                                                                                   ICRA A+
Central Bank Of India                   Upper Tier II bonds   ICRA A       2850    Outstanding
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A       5000    Outstanding
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A       5000    Outstanding
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A       1000    Outstanding
                                        programme
Central Bank Of India                   Lower Tier II bonds   ICRA A+      5700    Outstanding
                                        programme
Central Bank Of India                   Lower Tier II bonds   ICRA A+      2700    Outstanding
                                        programme
Central Bank Of India                   Lower Tier II bonds   ICRA A+      10000   Outstanding
                                        programme
Chalapathi Educational Society          FBL                   ICRA B+      128.1   Reaffirmed
Chalapathi Educational Society          Unallocated Limits    ICRA B+      31.9    Reaffirmed
Edelweiss Asset Management Ltd          Edelweiss Liquid Fund ICRA AA+mfs  -       Assigned
Edelweiss Asset Management Ltd          Edelweiss Bking and   ICRA AAAmfs  -       Assigned
                                        PSU Debt Fund
Eicher Motors Ltd                       Fund based/Non FB Fac -            -       -
Eicher Motors Ltd                       FB Fac                ICRA AAA     450     Upgraded
                                                                                   from ICRA AA+
Eicher Motors Ltd                       Non-FB Fac            ICRA AAA     1150    Upgraded
                                                                                   from ICRA A1+
Eicher Motors Ltd                       Unallocated           ICRA AAA     200     Upgraded
                                                                                   from ICRA AA+
Ghaziabad Mechfab Pvt Ltd               FB Limits             ICRA B+      45      Assigned
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      150     Withdrawn
Annapurna
Microfinance
Pvt. Ltd
Ifmr Capital Finance Pvt Ltd -          NCDs                  ICRA A       100     Withdrawn
Arohan Financial
Services Pvt
Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      150     Withdrawn
Arohan Financial
Services
Pvt.
Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      140     Withdrawn
Asirvad
Microfinance
Pvt Ltd
Ifmr Capital Finance Pvt Ltd -          NCDs                  ICRA A       200     Withdrawn
Disha Microfin
Pvt Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      140     Withdrawn
Fusion
Microfinance
Pvt Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A       160     Withdrawn
Future Financial
Servicess
Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      140     Withdrawn
Grama Vidiyal
Micro Finance
Ltd
Ifmr Capital Finance Pvt Ltd -          NCDs                  ICRA A       150     Withdrawn
Intrepid Finance
And Leasing
Pvt
Ltd
Ifmr Capital Finance Pvt Ltd -          NCDs                  ICRA A       150     Withdrawn
Pahal Financial
Services Pvt
Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      150     Withdrawn
Pudhuaaru
Financial
Services
Pvt. Ltd
Ifmr Capital Finance Pvt Ltd -          NCDs                  ICRA A       150     Withdrawn
Sonata Finance
Pvt Ltd
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      160     Withdrawn
Suryoday Micro
Finance Ltd.
Ifmr Capital Finance Pvt Ltd -          NCD                   ICRA A+      140     Withdrawn
Sv Credit Line
Pvt Ltd
Ifmr Capital Finance Pvt Ltd-           NCD                   ICRA A+      140     Withdrawn
Satin Creditcare
Network Ltd
Mahindra & Mahindra Ltd                 NCD programme         ICRA AAA     5000    Reaffirmed
Mahindra & Mahindra Ltd                 LT, FB Fac            ICRA AAA     880     Reaffirmed
Mahindra & Mahindra Ltd                 LT, non-FB Fac        ICRA AAA     810     Reaffirmed
Mahindra & Mahindra Ltd                 LT / ST, FB / non-FB  ICRA AAA     990     Reaffirmed
                                        Fac                   /A1+
Neelkamal Steels Pvt Ltd                FBL- TL               ICRA BBB-    100     Reaffirmed
Neelkamal Steels Pvt Ltd                FBL- CC               ICRA BBB-    110     Reaffirmed
Padmashree Inc                          FB limits             ICRA BB      300     Assigned /
                                                                                   Outstanding
R.S.H. Agro Products Pvt Ltd            FB – TL               ICRA B       50      Reaffirmed
R.S.H. Agro Products Pvt Ltd            FB – CC               ICRA B       100     Reaffirmed
Rama Marketing Enterprises              FBL                   ICRA BB-     350     Reaffirmed
Rishika Fashions Pvt Ltd                LT Fund Based : CC    ICRA BB      50      Reaffirmed
Rishika Fashions Pvt Ltd                LT Fund Based : TL    ICRA BB      7.2     Reaffirmed
Saheli Exports Pvt Ltd                  FB – CC               ICRA BB      20      Revised from
                                                                                   ICRA BBB-
Saheli Exports Pvt Ltd                  FB – TL               ICRA BB      103     Revised from
                                                                                   ICRA BBB-
Saheli Exports Pvt Ltd                  Unallocated Limits    ICRA BB      50      Revised from
                                                                                   ICRA BBB-
Sangam Fashions Pvt Ltd                 LT Fund Based : CC    ICRA BB      50      Reaffirmed
Sangam Fashions Pvt Ltd                 LT Fund Based : TL    ICRA BB      68      Reaffirmed
Sarveshwari Exports Pvt Ltd             Export Packing Credit ICRA B+      55      Assigned
Sarveshwari Exports Pvt Ltd             Foreign Bill          ICRA B+      10      Assigned
                                        Discounting
Sarveshwari Exports Pvt Ltd             Standby line of CreditICRA B+      9.5     Assigned
Shankara Vehicles Pvt Ltd               CC Facility           ICRA B+      90      Upgraded
                                                                                   from ICRA B
Shankara Vehicles Pvt Ltd               TL                    ICRA B+      5       Upgraded
                                                                                   from ICRA B
Shankara Vehicles Pvt Ltd               Unallocated Limits    ICRA B+      5       Upgraded
                                                                                   from ICRA B
Tata Advanced Materials Ltd             Bk Limits             ICRA A+/A1   4100    Outstanding

--------------------------------------------------------------------------------------------
$: 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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