July 14, 2017 / 10:50 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 14

 (Repeating to add more Ratings)
    Jul 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 13, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ashwinram Spinning Mills Pvt            Non FB – BG           ICRA A4+    6.8     Assigned
Ltd
Ashwinram Spinning Mills Pvt            Non FB – LOC          ICRA A4+    10      Assigned
Ltd
British Scaffolding                     ST -FBL               ICRA A4+    90      Reaffirmed
International Ltd
Issuer not cooperating
Eicl Ltd                                Non-FB Fac            ICRA A1+    150     Assigned
Eicl Ltd                                Proposed - CP         ICRA A1+    400     Assigned
Fashion Flare International             ST Fund Based         ICRA A4     40      Reaffirmed
Pvt Ltd
(reduced from 10 CR)
Forum Projects Pvt Ltd                  Non-FBL               ICRA A4     250     Withdrawn
Fashion Flare International             ST Non-fund Based                  -       -
Pvt Ltd
Hindustan Latex Family                  NFB                   ICRA  A2+   40      revised from
Planning Promotion Trust                                      (SO)                 ICRA A1(SO)
Idfc Ltd                                CP Programme          ICRA A1+    15000
Idfc Ltd                                CDs Programme         ICRA A1+    300000
Idfc Bank Ltd                           CP Programme          ICRA A1+     15000   Outstanding
Idfc Bank Ltd                           CDs Programme         ICRA A1+     300000  Outstanding
Idfc Bank Ltd                           CP Programme          ICRA A1+     250     Outstanding
Karur Vysya Bank                        Certificates of       ICRA A1+    30000   Reaffirmed
                                        Deposit Programme
M/S S Narayana Reddy                    ST – Non FB Fac       ICRA A4+    35      Reaffirmed
Issuer not cooperating
Nirbhay Rasayan Pvt Ltd                 Short- term non-fund  ICRA A4+    15      Withdrawn
                                        based facility
Nisiki India Pvt Ltd                    Non-FBL               ICRA A4     80      Reaffirmed
(enhanced from Rs 6.00 crore)
Parag Milk Foods Ltd                    ST: NFBL              ICRA A2+    290     Assigned
Shrenik Marble Pvt Ltd                  NFBL                  ICRA A4     50      Assigned
Shriram Transport Finance Ltd           CP Programme          ICRA A1+    250
(Stfc)
United Brothers Polytech Llp            FBL – Bill DiscountingICRA A4     50      Reaffirmed
Issuer not cooperating
United Brothers Polytech Llp            Non-FBL – BG          ICRA A4     50      Reaffirmed
Issuer not cooperating

MEDIUM TERM RATINGS:
-------------------
Idfc Bank Ltd                           Fixed Deposit         MAA+                 Outstanding
                                        Programme
Idfc Bank Ltd                           Fixed Deposit         MAA+                 Outstanding
                                        Programme
Shriram Transport Finance Ltd           Fixed Deposit         MAA+         -           -
(Stfc)                                  Programme
Shriram Transport Finance Ltd           Fixed Deposit         MAA+         -            - 
(Stfc)                                  Programme

LONG TERM RATINGS:
-------------------
Aavas Financiers Ltd                    PTC Series A          ICRA AA(SO) 796.2   confirmed as
(Erstwhile Au Housing Finance                                                      final
Ltd (Auhfl)Ltd
Agarwal Fastners Pvt Ltd                BLR                   ICRA BB+ /   315.7
                                                              ICRA A4+
Issuer not cooperating
Ami Riddhi Chem Pvt. Ltd.               BLR                   ICRA B+ /    125.8
                                                              ICRA A4
Issuer not cooperating
Andhra Ferro Alloys Ltd                 BLR                   ICRA D/D     1120
Issuer delayed in giving information
Anisha Enterprises                      BLR                   ICRA B       150
Issuer not cooperating
Idfc Bank Ltd                           NCD Programme         ICRA AA      250     Outstanding
Idfc Bank Ltd                           NCD Programme         ICRA AAA     472821.2Outstanding

Instyle Exports Pvt Ltd                 BLR                   ICRA D       620
Issuer not cooperating
Krn Alloys Pvt Ltd                      CC                    ICRA B-      83
Info and fee not provided
Krn Alloys Pvt Ltd                      Unallocated           ICRA B-      27.6
Info and fee not provided
Nitesh Estates Ltd                      LT-Fund BasedCC       [ICRA BB-    60
Issuer delayed in giving information
Nitesh Estates Ltd                      LT-Fund BasedTL       ICRA BB-     15
Issuer delayed in giving information
Pratibha Krushi Prakriya Ltd            BLR                   ICRA BBB     60
                                                              / ICRA A3+
Sadguru Medical & Research              Bk Fac                ICRA B       89
Centre Pvt Ltd
Issuer not cooperating
Saregama India Ltd                      Bk Fac                ICRA A       180
                                                              /ICRA A1
Tops Security Ltd                       Bk Loans              ICRA C+      450
Issuer not cooperating

Aptus Value Housing Finance             LT loans              ICRA A      5000    Upgraded
India Ltd                                                                          from
                                                                                   ICRA A-

Ashwinram Spinning Mills Pvt            FB – CC               ICRA BB+    130     Assigned/
Ltd                                                                                Outstanding
(enhanced from Rs 9.0 crore
Ashwinram Spinning Mills Pvt            TL                    ICRA BB+    104.5   Assigned
Ltd
Ashwinram Spinning Mills Pvt            Unallocated limits    ICRA BB+ /  8.7     Assigned
Ltd                                                           ICRA A4+
British Scaffolding                     LT -FBL –CC           ICRA BB     10      Reaffirmed
International Ltd
Issuer not cooperating
British Scaffolding                     LT –NFBL              ICRA BB     25      Reaffirmed
International Ltd
Issuer not cooperating
Cholamandalam Investment And            Second Loss Facility  ICRA  A(SO) 295.9   confirmed as
Finance Co. Ltd                                                                    final
Cholamandalam Investment And            Second Loss Facility  ICRA  A(SO) 212.4   confirmed as
Finance Co. Ltd                                                                    final
Cholamandalam Investment And            PTC Series A          ICRA        4931.3  confirmed as
Finance Co. Ltd                                               AAA(SO)              final
Cholamandalam Investment And            PTC Series A          ICRA        3861    confirmed as
Finance Co. Ltd                                               AAA(SO)              final
Dav University                          FB – TL               ICRA A+(SO) 700     ASsigned
Deepa Developers                        LT –FB Fac            ICRA B      60      Reaffirmed
Issuer not cooperating
Deepa Developers                        TL                    ICRA B      90      Reaffirmed
Issuer not cooperating
Ds-Max Properties Pvt Ltd               LT-Fund Based- TL     ICRA BBB    720     Upgraded
                                                                                   from
                                                                                   ICRA BBB-
                                                                                   (SO)

Ds-Max Realty Pvt Ltd                   LT-Fund Based-TL      ICRA BBB-   150     Upgraded
                                                                                   from
                                                                                   ICRA BB+

Eicl Ltd                                LT-FB - TL            ICRA A+     302     Assigned
Eicl Ltd                                LT/ ST -FB Fac - CC / ICRA A+ /   750     Assigned
                                        WCDL / FBP / FBD      ICRA A1+
Fashion Flare International             LT FB TL              ICRA B      20      Revised from
Pvt Ltd                                                                            ICRA B+
Forum Projects Pvt Ltd                  TL                    ICRA BB     3738.1  Withdrawn
Hindustan Latex Family                  FB-CC                 ICRA A(SO)  100^    revised from
Planning Promotion Trust                                                           ICRA A+(SO)
^50% one way interchangeable from fund based to non
Idfc Ltd                                NCD Programme         ICRA AAA    472821.2-
International Seaport Dredging          LT / ST, FB and       ICRA BBB-   1000    Reaffirmed
Pvt Ltd                                 non-FB Fac ^          / ICRA A3
^ These facilities are interchangeable to a maximum of Rs. 100.0 crore
Janardan Wind Energy Pvt Ltd            TL                    ICRA BBB    960     Reaffirmed
Karur Vysya Bank                        Lower Tier II Bonds   ICRA A+     3000    Reaffirmed
                                        Programme
M/S S Narayana Reddy                    LT – FB Fac           ICRA BB+    30      Reaffirmed
Issuer not cooperating
Manikanta Cotton Agro                   FB –CC                ICRA B+     120     Upgraded
Industries                                                                         from ICRA B
Manikanta Cotton Agro                   FB –TL                ICRA B+     25.1    Upgraded
Industries                                                                         from ICRA B
Manikanta Cotton Agro                   Unallocated Limits    ICRA B+     14.9    Upgraded
Industries                                                                         from ICRA B
Manoj Vaibhav Jewellers Pvt Ltd         LT FB Limits          ICRA BB     260     Reaffirmed
Issuer not cooperating
Manoj Vaibhav Jewellers Pvt Ltd         LT Unallocated Limits ICRA BB     40      Reaffirmed
Issuer not cooperating
Mytrah Vayu (Indravati) Pvt Ltd         Unallocated           -            -       Reaffirmed
(revised from 0.72 CR)
Mytrah Vayu (Indravati) Pvt Ltd         TL                    ICRA BBB    10500   Reaffirmed
(enhanced from 852.58 CR)
Mytrah Vayu (Indravati) Pvt Ltd         FBL                   ICRA BBB    1000    Reaffirmed
(enhanced from 26.70 CR)
Neogrowth Credit Pvt Ltd                NCDs Programme        ICRA BBB    2550    Upgraded
                                                                                   from
                                                                                   ICRA BBB-
Neogrowth Credit Pvt Ltd                LT Bk Fac             ICRA BBB    150     Upgraded
                                                                                   from
                                                                                   ICRA BBB-
Neogrowth Credit Pvt Ltd                Subordinated Debt     ICRA BBB    250     Upgraded
                                        Programme                                  from
                                                                                   ICRA BBB-
Nirbhay Rasayan Pvt Ltd                 LT fund based facilityICRA BB     150.5   Withdrawn
Nirbhay Rasayan Pvt Ltd                 LT & ST (Unallocated  ICRA BB /   15.6    Withdrawn
                                        Amount)               ICRA A4
Nisiki India Pvt Ltd                    FBL                   ICRA B+     100     Revised from
                                                                                   ICRA BB-
(enhanced from Rs 9.00crore)
Parag Milk Foods Ltd                    LT: FBL               ICRA A-     2380    Assigned
Shilpi Cable Technologies Ltd           NCD                   ICRA C+(SO) 270     Reaffirmed
Issuer not cooperating
Shrenik Marble Pvt Ltd                  FBL                   ICRA B+     46      Assigned
Shriram Transport Finance Ltd           NCD Programme         ICRA AA     250
(Stfc)
Sudhakara Infratech Pvt Ltd             FBL                   ICRA BBB-   200     Reaffirmed
Sudhakara Infratech Pvt Ltd             NFBL                  ICRA BBB-   730     Reaffirmed
Sudhakara Infratech Pvt Ltd             Unallocated Limits    ICRA BBB-   170     Reaffirmed
                                                              / ICRA A3
Sun Hospitality And Service             FBL –TL               ICRA D      130     Reaffirmed
Apartment Pvt Ltd
Issuer not cooperating
Tbpr Infra Projects Pvt Ltd             FBL                   ICRA B-     70      Upgraded
                                                                                   from ICRA D
Tbpr Infra Projects Pvt Ltd             NFBL                  ICRA B-     95      Upgraded
                                                                                   from ICRA D
Tbpr Infra Projects Pvt Ltd             Unallocated Limits    ICRA B-     175     Upgraded
                                                                                   from ICRA D
United Brothers Polytech Llp            FB limits- CC         ICRA B+     30      Reaffirmed
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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