July 6, 2017 / 12:43 PM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jul 6

 (Repeating to add additional Ratings)
    Jul 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 5, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aghara Knitwear Pvt Ltd                 NFBL                  ICRA A4      1.5     Reaffirmed
Caspro Metal Industries Pvt Ltd         ST: NFBL              ICRA A3+     2.5     Reaffirmed
Endress+Hauser (India)                  ST-Unallocated        ICRA]A1      20      Reaffirmed
Automation Instrumentation Pvt
Ltd
Gmr Hyderabad International             Non FBL               ICRA A1+     750     Reaffirmed
Airport Ltd
Housing And Urban Development           ST Borrowing ProgrammeICRA A1+     65000   Reaffirmed
Corporation Ltd
Kanishk Steel Industries Ltd            ST: Non FB Fac        ICRA A4+     480     Reaffirmed
Kanishk Steel Industries Ltd            ST: Unallocated       ICRA A4+     210     Reaffirmed
Panacea Medical Technologies            NFBL                  ICRA A4      30      Reaffirmed
Pvt Ltd
Paradip International Cargo             NFBL                  ICRA A3(SO)  400     Assigned
Terminal Pvt Ltd
Saurabh Agrotech Pvt Ltd                ST-Fund Based         ICRA A4      200     Reaffirmed
Saurabh Agrotech Pvt Ltd                ST-Non Fund Based     ICRA A4      1       Reaffirmed
Shallow Ceramic Pvt Ltd                 Non FB –BG            ICRA A4      17      Reaffirmed
Sundaram Bnp Paribas Home               CP                    ICRA A1+     5000    Reaffirmed
Finance Ltd
Timblo Drydocks Pvt Ltd                 Non-fund based        ICRA A4      150     Withdrawn
                                        –LC/Buyer’s Credit
Timblo Drydocks Pvt Ltd                 Non-fund based – BG   ICRA A4      750     Withdrawn
Vaighai Agro Products Ltd               ST FB Facility        ICRA A3      25      upgraded
                                                                                   from
                                                                                         A4+
Vaighai Agro Products Ltd               ST FB Facility        ICRA A3              upgraded
                                        Sublimit                                   from
                                                                                         A4+
Vaighai Agro Products Ltd               ST Non-fund based     ICRA A3      160     upgraded
                                        Facility                                   from
                                                                                         A4+
Varun Motors                            Non FBL               ICRA A2      15      Reaffirmed
Varun Motors Pvt Ltd                    Non FBL               ICRA A2      270     Reaffirmed
Yashveer Ceramics                       Non FBL               ICRA A4      20      Reaffirmed
Shallow Ceramic Pvt Ltd                 Non FB –BG            ICRA A4              Reaffirmed
Varun Motors                            NFBL                  ICRA A2      15      Reaffirmed


MEDIUM TERM RATINGS:
-------------------
Housing And Urban Development           Fixed Deposits        MAAA                 Reaffirmed
Corporation Ltd                         Programme
Sundaram Bnp Paribas Home               Fixed Deposit         MAA+                 Reaffirmed
Finance Ltd                             Programme


LONG TERM RATINGS:
-------------------
Acr Machining Pvt Ltd                   LT: FBL               ICRA BBB-    15      Reaffirmed
Acr Machining Pvt Ltd                   LT: Unallocated limitsICRA BBB-    30      Reaffirmed
Aghara Knitwear Pvt Ltd                 FBL                   ICRA B+      65.1    Assigned,
                                                                                   Upgraded
                                                                                   from       B
Aghara Knitwear Pvt Ltd                 Unallocated Limits    ICRA B+      0.4     Reaffirmed ,
                                                                                   Upgraded
                                                                                   from       B
Apr Constructions Ltd                   BLR                   ICRA BB+     2500
Issuer not cooperating
Bvsr Constructions Pvt Ltd              FBL                   ICRA A-      100     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Bvsr Constructions Pvt Ltd              LT Non Fund Based     ICRA A-      2200    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Bvsr Constructions Pvt Ltd              LT Non FBL            ICRA A-      840     Upgraded
                                        (unallocated)                              from ICRA
                                                                                   BBB+
Caravan Oil Suppliers                   CC                    ICRA BB      65      Reaffirmed
Caspro Metal Industries Pvt Ltd         LT: FBL               ICRA BBB     25      Reaffirmed
Caspro Metal Industries Pvt Ltd         LT: Unallocated limitsICRA BBB     37.5    Reaffirmed
Embassy Inn Pvt Ltd                     NCD                   ICRA BBB-    750     Outstanding
Endress+Hauser (India)                  FB –CC                ICRA]A-      80      Reaffirmed
Automation Instrumentation Pvt
Ltd
G Corp Homes Pvt Ltd                    LT - Bk linies        ICRA]BBB+    400     Reaffirmed
Gmr Aerospace Engineering Ltd           TL                    ICRA]AA(SO)  2816    Upgraded
                                                                                   from
                                                                                         AA-(SO)
Gmr Aerospace Engineering Ltd           Unallocated           ICRA]AA(SO)  29      Upgraded
                                                                                   from
                                                                                         AA-(SO)
Gmr Hotels And Resorts Ltd              TL                    ICRA]AA      1247.9  Upgraded
                                                              (SO)                 from
                                                                                         AA-(SO)
Gmr Hyderabad International             TL                    ICRA AA      16123.3 Upgraded
Airport Ltd                                                                        from ICRA AA-
Gmr Hyderabad International             CC Limit              ICRA AA      550     Upgraded
Airport Ltd                                                                        from ICRA AA-
Gmr Hyderabad International             Unallocated Limit     ICRA AA      112.4   Upgraded
Airport Ltd                                                                        from ICRA AA-
Housing And Urban Development           LT Borrowing          ICRA AAA     120000  Assigned
Corporation Ltd                         Programme –FY2018
Housing And Urban Development           Subordinated Debt     ICRA AAA             Assigned
Corporation Ltd                         (Sub--limit of LT
                                        Borrowing Programme FY2018)
Housing And Urban Development           HB Series XVII,       ICRA AAA             Withdrawn
Corporation Ltd                         XVIII, XIX, XXXVII,
                                        XXXIX, SDI-II and Series 01-02
Housing And Urban Development           LT Borrowing          ICRA AAA     38650   Reaffirmed
Corporation Ltd                         Programme –FY2017
                                        -Outstanding
Housing And Urban Development           Bk Lines Programme    ICRA AAA     100000  Assigned
Corporation Ltd                                               /A1+
Indiabulls Housing Finance Ltd          PTC Series A          Provisional  3299.6  Assigned
                                                              ICRA AAA(SO)
Kanishk Steel Industries Ltd            LT: FB Fac            ICRA BB+     225     Reaffirmed
New India Cables Trading Pvt            LT: FBL               ICRA BB+     440     Reaffirmed
Ltd
Panacea Medical Technologies            FB – CC               ICRA BB+     50      Reaffirmed
Pvt Ltd
Panacea Medical Technologies            FB –TL                ICRA BB+     35      Reaffirmed
Pvt Ltd
Paradip International Cargo             FBL                   ICRA         4000    Assigned
Terminal Pvt Ltd                                              BBB-(SO)
Platino Classic Motors (India)          LT _ Fund Based       ICRA B+      100     Reaffirmed
Pvt Ltd
Prothom Industries India Pvt            LT: (NCD)             ICRA D       150     Downgraded
Ltd                                                                                from       BB
Raichur Laboratories Pvt Ltd            FBL                   ICRA B+      150     Reaffirmed
Raichur Laboratories Pvt Ltd            Unallocated           ICRA B+      50      Reaffirmed
Rns Earthmovers Pvt Ltd                 Fund based            ICRA BBB-            Revised from
                                                                                   ICRA BB+
Sar Senapati Santaji Ghorpade           FB –TL                ICRA B       1521.4  Assigned
Sugar Factory Ltd
Sar Senapati Santaji Ghorpade           FB – CC               ICRA B       200     Assigned
Sugar Factory Ltd
Sar Senapati Santaji Ghorpade           Unallocated           ICRA B       110.3   Assigned
Sugar Factory Ltd                                             /ICRA A4
Saurabh Agrotech Pvt Ltd                Fund Based-CC         ICRA BB      330     Reaffirmed
Saurabh Agrotech Pvt Ltd                Fund Based-TL         ICRA BB      8.2     Reaffirmed
Shallow Ceramic Pvt Ltd                 FB –CC                ICRA B+      40      upgraded
                                                                                   from       B
Shallow Ceramic Pvt Ltd                 FB –TL                ICRA B+      28.7    upgraded
                                                                                   from       B
Shallow Ceramic Pvt Ltd                 Unallocated           ICRA B+              upgraded
                                                                                   from       B
Shreeyam Power & Steel                  TL                    ICRA D       7217.4  Reaffirmed
Industries Ltd
Shreeyam Power & Steel                  FBL                   ICRA D       800     Reaffirmed
Industries Ltd
Shreeyam Power & Steel                  Non FBL               ICRA D       1214.3  Reaffirmed
Industries Ltd
Skd Realty Llp                          Bk Loan               ICRA B+      250
Issuer not cooperating
Sree Siva Sankar Automobiles            FBL                   ICRA BB-     75      Reaffirmed
Sundaram Bnp Paribas Home               NCDs                  ICRA AA+     5000    Assigned
Finance Ltd
Sundaram Bnp Paribas Home               NCDs                  ICRA AA+     15888   Reaffirmed
Finance Ltd
Sundaram Bnp Paribas Home               Subordinated Debt     ICRA AA+     1700    Reaffirmed
Finance Ltd
Sundaram Bnp Paribas Home               LT - Bk linies        ICRA AA+     5000    Reaffirmed
Finance Ltd
Sundaram Bnp Paribas Home               NCDs                  ICRA AA+     688     Withdrawn
Finance Ltd
Sundaram Bnp Paribas Home               Subordinated Debt     ICRA AA+     2000    Withdrawn
Finance Ltd
Timblo Drydocks Pvt Ltd                 Fund based - CC       ICRA B+      500     Withdrawn
Tirupati Cotton                         CC                    ICRA B       45      Reaffirmed
Tirupati Cotton                         TL                    ICRA B       15      Reaffirmed
Vaighai Agro Products Ltd               LT TL                 ICRA BBB-    83.2    upgraded
                                                                                   from
                                                                                         BB+
Vaighai Agro Products Ltd               LT FB Facility        ICRA BBB-    210     upgraded
                                                                                   from
                                                                                         BB+
Vaighai Agro Products Ltd               Unallocated facility  ICRA BBB-    2.7     upgraded
                                                                                   from
                                                                                         BB+
Varun Motors                            FBL                   ICRA BBB     740     Reaffirmed
Varun Motors Pvt Ltd                    FBL                   ICRA BBB     1680    Reaffirmed
Yashveer Ceramics                       FB Limit              ICRA B       82.5    Reaffirmed
Bengaluru Metropolitan                  FB TL                 ICRA B       1600    Assigned
Transport Corporation
Bengaluru Metropolitan                  Proposed TL           ICRA B       11400   Assigned
Transport Corporation
Dev Bhoomi Frozen Food Products         LT fund based         ICRA B       85
Issuer not cooperating
Mda Mineral Dhatu (Ap) Pvt Ltd          BLR                         C+ /   135
                                                                    A4
Issuer not cooperating
R.H. Sortex Rice Mills Pvt Ltd          LT fund based         ICRA D       56.2
Issuer not cooperating
Ravindra Rice & General Mills           LT fund based         ICRA B+      165
Issuer not cooperating
Sahaj Solar Pvt Ltd                     BLR                   ICRA B+/A4   70
Issuer not cooperating
Shallow Ceramic Pvt Ltd                 FB –CC                ICRA B+              upgraded
                                                                                   from       B
Shallow Ceramic Pvt Ltd                 FB –TL                ICRA B+              upgraded
                                                                                   from       B
Shallow Ceramic Pvt Ltd                 Unallocated           ICRA B+              upgraded
                                                                                   from       B
Varun Motors                            FBL                   ICRA BBB     740     Reaffirmed
Vasu Coco Resorts Pvt Ltd               LT: TL Fac            ICRA D       430     Assigned
Zaveri Exports Pvt. Ltd                 FBL                   ICRA B-      130     Upgraded
--------------------------------------------------------------------------------------------
$: 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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