July 13, 2017 / 10:08 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 13

 (Repeating to add more Ratings.)
   Jul 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 12, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP programme (IPO     ICRA A1+     30000   Assigned
                                        Financing)
Aditya Birla Finance Ltd                CP programme          ICRA A1+     100000  Reaffirmed
Aditya Birla Finance Ltd                CP programme (IPO     ICRA A1+     20000   Withdrawn
                                        Financing)
Bharat Fritz Werner Ltd                 ST – Non fund based   ICRA A3      150     Reaffirmed
Indiana Hospital And Heart              ST – Non fund based   ICRA A4      5       Reaffirmed
Institute Ltd
Pal Fashions Pvt Ltd                    Non fund- based – BG  ICRA A2      10      Assigned
Bagga Luxury Motorcars Llp              Non-fund Based        ICRA A4      70      Reaffirmed
                                        Proposed BG
Gargo Traders, B.M. Garg &              Bk Fac                ICRA A4      80      -
Others (J.V.)
Gupta Power Infrastructure Ltd          Non FB limits         ICRA A2+     14600   Reaffirmed
Meru Industries Llp (Erstwhile          ST, non-FB Fac        ICRA A3      420     revised from
Meru Industries)                                                                   ICRA A3+
Planet Automotive Pvt Ltd               FB – Drop Line        ICRA A4      10      Reaffirmed
                                        Overdraft Facility
Pragati Transmission Pvt Ltd            ST- Non-FB Fac        ICRA A4      5       -
Rameswar Udyog Pvt Ltd                  Export Packing Credit ICRA A4      147.5   Reaffirmed
Rameswar Udyog Pvt Ltd                  FDBP@ /FUDBP@@        ICRA A4              Reaffirmed
@Foreign Discount Bill Purchase, @@ Foreign Usance Discount Bill Purchase
Rameswar Udyog Pvt Ltd                  BG                    ICRA A4      10      Reaffirmed
Religare Enterprises Ltd                CP/ST Debt programme  ICRA A1+     7000    Withdrawn
Ruchi Global Ltd                        Fund and NFBL         ICRA A4      4275    Reaffirmed
Samasta Microfinance Ltd                ST debt programme     ICRA A1      2000    Assigned
Strides Shasun Ltd                      ST FB Fac             ICRA A1+ &   8900    Reaffirmed
& indicates ratings on watch with developing implications
Pratibha Electrical Contractor          ST: Non Fund Based    ICRA D       160     Assigned
Llp
Strides Shasun Ltd                      ST non-FB Fac         ICRA A1+ &   5200    Reaffirmed
& indicates ratings on watch with developing implications
Strides Shasun Ltd                      Unallocated Fac       ICRA A1+ &   6244.1  Reaffirmed
& indicates ratings on watch with developing implications
Sungloss Ceramic Industries             BG                    ICRA A4      17.5    Reaffirmed
Vanya Steels And Engineering            ST - Non-fund based   ICRA A4      105     Withdrawn
Pvt Ltd
Vatsal Construction Co.                 BG                    ICRA A4      135     Assigned


LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA      7000    Assigned
                                        programme             (hyb)
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     10000   Assigned
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA AA+     162350  Reaffirmed
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     14000   Reaffirmed
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     15000   Reaffirmed
                                        programme
All Time Plastics Pvt Ltd               BLR                   ICRA BBB /   637.5   -
                                                              ICRA A3+
Annadata Rice Mill                      Bk Fac                ICRA BB /    100     -
                                                              ICRA A4
Bardhaman Agro Products (I)             Bk Fac                ICRA BB- /   62      -
Pvt Ltd                                                       ICRA A4
Bharat Fritz Werner Ltd                 LT – TL               ICRA BBB-    500     Reaffirmed
Bharat Fritz Werner Ltd                 LT – Fund based / CC  ICRA BBB-    565     Reaffirmed
Bharat Fritz Werner Ltd                 LT – Non fund based   ICRA BBB-    275     Reaffirmed
Bharat Fritz Werner Ltd                 LT / ST - Non fund    ICRA BBB-    310     Reaffirmed
                                        based                 / ICRA A3
Bagga Luxury Motorcars Llp              FB Proposed Inventory ICRA B+      70      Reaffirmed
                                        Funding Limits
Balaji Infraventures Pvt Ltd            FB Fac                ICRA B+      50      Downgraded
                                                                                   from ICRA D
Balaji Infraventures Pvt Ltd            TL                    ICRA B+      70      Downgraded
                                                                                   from ICRA D
C. G. Ispat Pvt Ltd                     Bk Fac                ICRA B+/     650     -
                                                              ICRA A4
C. G. Ispat Pvt Ltd                     Bk Fac                ICRA B+/     650     -
                                                              ICRA A4
Chhatrapati Sambhaji Raje               Bk Loan Rating        ICRA B+      500     -
Sakhar Udyog Ltd
Euro Panel Products Pvt Ltd             FB – CC               ICRA B       100     Reaffirmed
Euro Panel Products Pvt Ltd             FB – TL               ICRA B       86.5    Reaffirmed
Indiana Hospital And Heart              TL                    ICRA B       235     Reaffirmed
Institute Ltd
Indiana Hospital And Heart              LT – FB (optionally   ICRA B       10      Reaffirmed
Institute Ltd                           convertible debenture)
Indiana Hospital And Heart              LT – Interchangeable  ICRA B               Reaffirmed
Institute Ltd
Khaitan Electronics                     Bk Fac                ICRA BB-     142.5   -
                                                              /ICRA A4
Krishna Timber Company                  LT- Fund based –CC    ICRA B       10      -
Krishna Timber Company                  LT- Non-Fund based –  ICRA B       65      -
                                        LOC
Mid West Builders Pvt Ltd               LT- FBL               ICRA B       80      -
Pal Fashions Pvt Ltd                    Fund- based – CC      ICRA BBB+    150     Outstanding
Pal Fashions Pvt Ltd                    FB – TL               ICRA BBB+    163.7   Assigned /
                                                                                   Outstanding
Pal Fashions Pvt Ltd                    Unallocated limits    ICRA BBB+    6.3     Assigned
                                                              / ICRA A2
Pashupati Traders                       Bk Fac                ICRA B+      110     -
                                                              /ICRA A4
Pragati Transmission Pvt Ltd            LT- FB Fac            ICRA B+      45      -
R J Rishikaran Projects Pvt Ltd         LT- Fund based        ICRA B       350     -
Su Toll Road Pvt Ltd                    TL                    ICRA BBB+    5880    Reaffirmed
Su Toll Road Pvt Ltd                    NCD                   ICRA BBB+    800     Reaffirmed

Titan Timeproducts Ltd                  BLR                   ICRA AA /    25      -
                                                              ICRA A1+
Gupta Power Infrastructure Ltd          FB – CC               ICRA A-      7200    Reaffirmed
Gupta Power Infrastructure Ltd          FB – TL               ICRA A-      550     Reaffirmed
Hindva Hospitality Llp                  Proposed–LT FB Fac    ICRA B       400     Withdrawn
Ifmr Capital Mosec Arcturus             PTC Series A1         ICRA AA-(SO)         Upgraded
2016 -Chaitanya                                                                    from ICRA
Disha Ffsl Svcl                                                                    A-(SO)

Ifmr Capital Mosec Arcturus             PTC Series A3         ICRA B-(SO)          Reaffirmed
2016 -Chaitanya
Disha Ffsl Svcl

Ifmr Capital Mosec Arcturus             PTC Series A2         ICRA                 Reaffirmed
2016 -Chaitanya                                               BBB-(SO)
Disha Ffsl Svcl
Ifmr Capital Mosec Epoch 2016           PTC Series A1         ICRA AA-(SO)         Upgraded
-Chaitanya                                                                         from ICRA
Fusion Intrepid  Pahal Saija                                                       BBB+(SO)

Ifmr Capital Mosec Epoch 2016           PTC Series A2         ICRA B-(SO)          Reaffirmed
-Chaitanya
Fusion Intrepid Pahal Saija
Ifmr Capital Mosec Nile 2016            PTC Series A2         ICRA AA-(SO)         Upgraded
-Intrepid Light Saija                                                              from ICRA
                                                                                   BBB+(SO)

Ifmr Capital Mosec Nile 2016            PTC Series A3         ICRA C+(SO)          Reaffirmed
-Intrepid Light Saija
Ifmr Capital Mosec Phaenna              PTC Series A2         ICRA BB(SO)          Upgraded
2015 -Chaitanya                                                                    from ICRA
Intrepid Light  Sambandh                                                           B-(SO)
Ifmr Capital Mosec Priam 2015           PTC Series A1         ICRA A+(SO)          Upgraded
-Disha Sonata                                                                      from ICRA
                                                                                   BBB+(SO)
Ifmr Capital Mosec Priam 2015           PTC Series A2         ICRA B-(SO)          Reaffirmed
-Disha Sonata
Ifmr Capital Mosec Saturn 2016          PTC Series A2         ICRA BB+(SO)         Upgraded
-Intrepid Pahal Samasta                                                            from ICRA
                                                                                   B(SO)
Ifmr Capital Mosec Spes 2015            PTC Series A2         ICRA A(SO)           Upgraded
-Disha Fusio                                                                       from ICRA
                                                                                   BBB-(SO)

Ifmr Capital Mosec Spes 2015            PTC Series A3         ICRA B-(SO)          Reaffirmed
-Disha Fusio
Ifmr Capital Mosec Terra 2015           PTC Series A2         ICRA B-(SO)          Reaffirmed
-Ampl Fusion
Il&Fs Rail Ltd                          Non-fund Based Bk     ICRA A(SO)   500     Withdrawn
                                        Limits
Ireo Hospitality Company Pvt            TL                    ICRA BBB     8633    Reaffirmed
Ltd
Ireo Hospitality Company Pvt            Non-FBL               ICRA BBB     600     Reaffirmed
Ltd
Jabalpur Transmission Co. Ltd           TL                    ICRA A       11200   Withdrawn
Meru Industries Llp (Erstwhile          LT, FB Fac – CC       ICRA BBB-    40      revised from
Meru Industries)                                                                   ICRA BBB
Nicomet Industries Ltd                  FBL                   ICRA D       1447.6  Reaffirmed
Nicomet Industries Ltd                  Unallocated amount    ICRA D       52.4    Reaffirmed
Nrss XXXI (B) Transmission Ltd          TL                    ICRA A       4725    upgraded
                                                                                   from ICRA BBB
Nrss XXXI (B) Transmission Ltd          BG                    ICRA A       275     upgraded
                                                                                   from ICRA BBB
Nrss XXXI (B) Transmission Ltd          Unallocated Limits    ICRA A       30      upgraded
                                                                                   from ICRA BBB
Petal Motocon Pvt Ltd                   FB – Inventory        ICRA B-      100     Reaffirmed
                                        Funding Limits
Planet Automotive Pvt Ltd               FB – CC Limit         ICRA B-      170     Reaffirmed
Planet Automotive Pvt Ltd               FB – Inventory        ICRA B-      140     Reaffirmed
                                        Funding Limits
Pratibha Electrical Contractor          LT: Fund Based        ICRA D       65      Assigned
Llp
Pratibha Electrical Contractor          LT/ST-Unallocated     ICRA D       15      Assigned
Llp
R. B. & Co.                             FBL                   ICRA B       150     Withdrawn
Rameswar Udyog Pvt Ltd                  CC                    ICRA B+              Reaffirmed
Rameswar Udyog Pvt Ltd                  TL                    ICRA B+      340     Reaffirmed
Ruchi Global Ltd                        FB limits             ICRA BB      125     Reaffirmed
Samasta Microfinance Ltd                NCD programme         ICRA A       500     Assigned
Srichakra Milk Products Llp             FB –TL                ICRA BB-     50      Reaffirmed
Srichakra Milk Products Llp             FB –CC                ICRA BB-     20      Reaffirmed
Srichakra Milk Products Llp             Unallocated           ICRA BB-     20      Reaffirmed
Strides Shasun Ltd                      TL                    ICRA A+ &    9696    Reaffirmed
& indicates ratings on watch with developing implications
Sundaram Finance Ltd -Shri              PTCs                  ICRA AAA(SO) 5120    Final Rating
Trust P 2017
Sundaram Finance Ltd -Shri              PTCs                  ICRA AAA(SO) 1752.9  Final Rating
Trust P 2017
Sundaram Finance Ltd -Shri              PTCs                  ICRA AAA(SO)         Final Rating
Trust Q 2017
Sungloss Ceramic Industries             CC                    ICRA BB-     100     Reaffirmed
Sungloss Ceramic Industries             TL                    ICRA BB-     34.2    Reaffirmed
Umang Dairies Ltd                       LT fund based – CC    ICRA BBB-    200     Assigned /
                                                                                   outstanding
Umang Dairies Ltd                       LT fund based – TL    ICRA BBB-    140     Assigned /
                                                                                   outstanding
Vanya Steels And Engineering            FB – CC               ICRA B-      50      Withdrawn
Pvt Ltd
Vanya Steels And Engineering            FB – TL               ICRA B-      100.2   Withdrawn
Pvt Ltd
Vanya Steels And Engineering            Unallocated           ICRA B-      35.2    Withdrawn
Vatsal Construction Co.                 CC                    ICRA BB-     10      Assigned
Pvt Ltd
--------------------------------------------------------------------------------------------
$: 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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