July 7, 2017 / 10:24 AM / 14 days ago

ICRA ratings for Indian debt instruments-Jul 7

17 Min Read

    Jul 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 6, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Arya Alloys Pvt Ltd                     ST Non fund based     ICRA A4      20      -
Issuer not cooperating
CEC Itd Cem Tpl Jv                      FBL                   ICRA A1      3500    Assigned
FX Multitech Pvt Ltd                    Non-FBL               ICRA A4      37      Reaffirmed
Himalaya Communications Ltd             Non-FB Limits         ICRA A4      215     -
Issuer not cooperating
HSBC Asset Management (India)           HSBC Cash Fund        ICRA A1+mfs  -       Reaffirmed
Pvt Ltd
HSBC Asset Management (India)           HSBC Ultra ST Bond    ICRA A1+mfs  -       Reaffirmed
Pvt Ltd                                 Fund
HSBC Asset Management (India)           HSBC Flexi Debt Fund  ICRA A1+mfs  -       Reaffirmed
Pvt Ltd
HSBC Asset Management (India)           HSBC Income Fund-ST   ICRA A1+mfs  -       Reaffirmed
Pvt Ltd                                 Plan
Idbi Asset Management Company           IDBI Liquid Fund      ICRA A1+mfs  -       Reaffirmed
Pvt Ltd
Jinaehat Exports Pvt Ltd                FB –PC/FDB/FBE        ICRA A4      75      Reaffirmed
Jinaehat Exports Pvt Ltd                Non-FB –BG            ICRA A4      150     Reaffirmed
Jm Financial Asset                      CP programme          ICRA A1+     7500    Outstanding
Reconstruction Co. Ltd
Jm Financial Products Ltd               CP programme          ICRA A1+     45000   Assigned
P Dasaratharama Reddy                   Non Fund Based        ICRA A4      80      -
Issuer not cooperating
Prasuna Vamsikrishna Spinning           ST –FB (sublimit)     ICRA A3+     -       Upgraded
Mills Pvt Ltd                                                                      from ICRA A3
Prasuna Vamsikrishna Spinning           ST –Non FB            ICRA A3+     2       Upgraded
Mills Pvt Ltd                                                                      from ICRA A3
Rmp Bearings Ltd                        Inland LOC            ICRA A4      1.2     -
Issuer not cooperating
Sanghvi Movers Ltd                      CP                    ICRA A1+     250     Reaffirmed
Sanghvi Movers Ltd                      ST FBL                ICRA A1+     75      Reaffirmed
Sanghvi Movers Ltd                      ST Non-FBL            ICRA A1+     75      Reaffirmed
Sanghvi Movers Ltd                      ST Non-FBL#           ICRA A1+     -       Reaffirmed
# -Sublimit to the term loan facilityRating
Scj Plastics Ltd                        Non-FB Fac            ICRA A3      160     -
Issuer not cooperating
Spray Engineering Devices Ltd.          Non-FB Limits         ICRA D       160     Revised from
                                                                                   ICRA A4
Spray Engineering Devices Ltd.          Non-FB Limits         ICRA D       160     Revised from
                                                                                   ICRA A4
Tirumala Seven Hills Pvt Ltd            Non-FB –LOC and BG    ICRA A4      150     Reaffirmed
Tyche Industries Ltd                    Non-Fund based        ICRA A4+     23.8    Reaffirmed
West Coast Foods                        EPC cum FBP/FBD       ICRA A4      40*     -
Issuer not cooperating / *includes Rs. 1.00 crore cash credit facility as sub-limit
West Coast Foods                        BG                    ICRA A4      10      -
Issuer not cooperating


LONG TERM RATINGS:
-------------------
Adig Jemtexpvt Ltd                      BLR                   ICRA B+      100     -
Issuer not cooperating
Akal Pipe Industries                    LT: CC                ICRA D       25      Reaffirmed
Akal Pipe Industries                    LT: TL                ICRA D       69      Reaffirmed
Arya Alloys Pvt Ltd                     LT Fund based         ICRA BB      220     -
Issuer not cooperating
Aggarwal Constructions Pvt Ltd          LT FB                 ICRA B+      20      Reaffirmed
Aggarwal Constructions Pvt Ltd          LT non-FB             ICRA B+      80      Reaffirmed
Akal Pipe Industries                    LT: CC                ICRA D       25      Reaffirmed
Akal Pipe Industries                    LT: TL                ICRA D       69      Reaffirmed
Aye Finance Pvt Ltd                     PTC Series A1         Provisional  101.9   Assigned
                                                              ICRA A-
Aye Finance Pvt Ltd                     PTC Series A2         Provisional  6       Assigned
                                                              ICRA BB+
Balmer Lawrie Van Leer Ltd              Bk Loans              ICRA A-      724     -
Issuer not cooperating
Bazaar Konnections                      CC                    ICRA B+      100     -
Issuer not cooperating
Cec Itd Cem Tpl Jv                      Non-FBL               ICRA A-/A1   5000    Assigned
Corus Ifmr Capital 2016                 PTC Series A1         ICRA A       72.4    Reaffirmed
Corus Ifmr Capital 2016                 PTC Series A3         ICRA BBB     9.9     Reaffirmed
Corus Ifmr Capital 2016                 PTC Series A2         ICRA BBB+    24.8    Reaffirmed
Door Sanchar Hyrod Power                Fund Based            ICRA D       241.5   -
Private Ltd                             Facilities
Issuer not cooperating
Door Sanchar Hyrod Power                Unallocated           ICRA D       1.8     -
Private Ltd                             Facilities
Issuer not cooperating
Ds (Assam)Hospitalityltd                TL                    ICRA AA-     783.4   Reaffirmed
Ds (Assam)Hospitalityltd                FB limits             ICRA AA-     30      Reaffirmed
Forbes Technosys Ltd                    NCD                   Provisional  250     Assigned
                                                              ICRA AA-
Franco Leome Shoes Pvt Ltd              LT FB                 ICRA BB+     400     Reaffirmed
Fx Multitech Pvt Ltd                    FB limits             ICRA BB-     68      Reaffirmed
Fx Multitech Pvt Ltd                    Unallocated limits    ICRA BB-/A4  16.5    Reaffirmed
Himalaya Communications Ltd             Fund based-Fac        ICRA BB      69.2    -
Issuer not cooperating
Idbi Asset Management Company           IDBI Ultra ST Fund    ICRA AAAmfs  -       Reaffirmed
Pvt Ltd
India Infoline Finance Ltd              PTC Series A          ICRA AAA     1006.6  Assigned
India Infoline Housing Finance          PTC Series A          Provisional  1223.4  Assigned
Ltd (Iihfl)                                                   ICRA AAA
Jm Financial Asset                      NCD programme         ICRA AA-     6500    Outstanding
Reconstruction Co. Ltd
Jm Financial Asset                      LT Bk lines           ICRA AA-     6500    Outstanding
Reconstruction Co. Ltd
Jm Financial Asset                      LT market linked      PP-MLDICRA   2000    Assigned
Reconstruction Co. Ltd                  debenture programme   AA
Jm Financial Products Ltd               NCD                   ICRA AA      17000   Outstanding
Jm Financial Products Ltd               LT Bk lines           ICRA AA      5000    Outstanding
Jm Financial Products Ltd               LT equity linked      PP-MLDICRA   4250    Outstanding
                                        debentures (Principal AA
                                        Protected)
K.S. Overseas Pvt. Ltd.                 FBL                   ICRA BB-     1000    Reaffirmed
Kpr Industries (India) Ltd              BLR                   ICRA D       4950    -
Issuer not cooperating
Mangala Cashew Industries               Fund Based –CC        ICRA B+      100     -
Issuer not cooperating
Mumsmega Food Park Pvt Ltd              LT Bk Fac             ICRA B       950     -
Issuer not cooperating
P Dasaratharama Reddy                   Fund Based –CC        ICRA B+      20      -
Issuer not cooperating
Peregrine Guarding Pvt Ltd              LT FBL                ICRA BBB+    950     Assigned
Peregrine Guarding Pvt Ltd              LT/ST non-FBL         ICRA BBB+    250     Assigned
Phobos Ifmr Capital 2016                PTC Series A1         ICRA A-      128.2   Reaffirmed
Phobos Ifmr Capital 2016                PTC Series A2         ICRA BBB     26.3    Reaffirmed
Prasuna Vamsikrishna Spinning           FB –CC                ICRA BBB     147.5   Upgraded
Mills Pvt Ltd                                                                      from ICRA
                                                                                   BBB-
Prasuna Vamsikrishna Spinning           FB –TL                ICRA BBB     4.7     Upgraded
Mills Pvt Ltd                                                                      from ICRA
                                                                                   BBB-
Prasuna Vamsikrishna Spinning           LT –Non FB            ICRA BBB     4.3     Upgraded
Mills Pvt Ltd                                                                      from ICRA
                                                                                   BBB-
Prasuna Vamsikrishna Spinning           LT Unallocated        ICRA BBB     339.6   Upgraded
Mills Pvt Ltd                                                                      from ICRA
                                                                                   BBB-
Puntus Trust July 2016                  PTC Series A1         ICRA BBB     422.3   Reaffirmed
R.B. Rice Industries                    FB limits             ICRA B       165     Assigned /
                                                                                   Outstanding
Rinzler Ifmr Capital 2016               PTC Series A1         ICRA A-      217.1   Reaffirmed
Rinzler Ifmr Capital 2016               PTC Series A2         ICRA BBB-    59.2    Reaffirmed
Ritco Logistics Pvt Ltd                 FB LT                 ICRA BBB-    350     Reaffirmed
Ritco Logistics Pvt Ltd                 FB/Non-fund Based LT  ICRA BBB-    50      Reaffirmed
Rmp Bearings Ltd                        CC                    ICRA BB      130     -
Issuer not cooperating
Rmp Bearings Ltd                        TL                    ICRA BB      11.2    -
Issuer not cooperating
Sanghvi Movers Ltd                      TL/ Buyers Credit/    ICRA A+      7438.8  Reaffirmed
                                        Capex LC
Sanghvi Movers Ltd                      LT FBL, CC            ICRA A+      1000    Reaffirmed
Satin Creditcare Network Ltd            PTC Series A1         ICRA A-      89.5    Reaffirmed
Satya Microcapital Ltd                  PTC Series A2         Provisional  4.4     Assigned
                                                              ICRA BB+
Satya Microcapital Ltd                  PTC Series A1         Provisional  70      Assigned
                                                              ICRA BBB
Scj Plastics Ltd                        Fund based-Fac        ICRA BBB     55      -
Issuer not cooperating
Scj Plastics Ltd                        Unallocated Fac       ICRA         5       -
                                                              BBB/A3
Issuer not cooperating
Shrivardhman Milk Dairy Pvt Ltd         Fund Based-CC         ICRA B+      33      Reaffirmed
Shrivardhman Milk Dairy Pvt Ltd         Fund Based-TL         ICRA B+      24.5    Reaffirmed
Spray Engineering Devices Ltd.          FB Limits             ICRA D       259.6   Revised from
                                                                                   ICRA BB-
Spray Engineering Devices Ltd.          Unallocated           ICRA D       18.1    Revised from
                                                                                   ICRA BB-
Tirumala Seven Hills Pvt Ltd            FB –CC                ICRA BB-     80      Reaffirmed
Tirumala Seven Hills Pvt Ltd            Unallocated           ICRA BB-/A4  90      Reaffirmed
Triveni Kripa Buildhome Pvt Ltd         Fund based-Fac        ICRA BB      90      -
Issuer not cooperating
Tyche Industries Ltd                    FB –CC                ICRA BB+     100     Reaffirmed
Tyche Industries Ltd                    Unallocated           ICRA BB+     1.2     Reaffirmed
Zane Ifmr Capital 2016                  PTC Series A1         ICRA A-      388.6   Reaffirmed
Zane Ifmr Capital 2016                  PTC Series A2         ICRA BBB-    80.7    Reaffirmed
Manidhara Realty                        Demand Loan           ICRA BB-     145     -
Issuer not cooperating
Mumsmega Food Park Pvt Ltd              LT Bk Fac             ICRA B       950     Reaffirmed
Peregrine Guarding Pvt Ltd              LT FBL                ICRA BBB+    950     Assigned
Peregrine Guarding Pvt Ltd              LT/STnon-FBL          ICRA BBB+/A2 250     Assigned
Pragya Rice Mill                        LT Fund Base          ICRA B+      30      -
Issuer not cooperating
Shanti Gopal Concastltd                 BLR                   ICRA B/A4    420     -
Issuer not cooperating
Shree Jagdamba Agricoexports            BLR                   ICRA B+/A4   550     -
Pvt Ltd
Issuer not cooperating
Shriman Enterprises                     BLR                   ICRA B       360     -
Issuer not cooperating
Siddarth Intercrafts Pvt Ltd            FB                    ICRA B+      25      -
Issuer not cooperating
Siddarth Intercrafts Pvt Ltd            Unallocated           ICRA B+/A4   75      -
Issuer not cooperating
Siddarth Organisation                   FB                    ICRA B+      21.6    -
Issuer not cooperating
Siddarth Organisation                   TL                    ICRA B+/A4   78.7    -
Issuer not cooperating
Siddarth Organisation Ltd               FB                    ICRA B+      42      -
Issuer not cooperating
Siddarth Organisation Ltd               Unallocated           ICRA B+/A4   58      -
Issuer not cooperating
United Nanotechnologies Ltd             Bk Fac                ICRA B-/A4   60      -
Issuer not cooperating
West Coast Foods                        TL                    ICRA B+      12.9    -
Issuer not cooperating
--------------------------------------------------------------------------------------------
$: 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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