December 21, 2016 / 11:56 AM / a year ago

ICRA ratings for Indian debt instruments-Dec 21

Dec 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 20, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anvil Cables Pvt Ltd                    Non-fund Based Bk Fac ICRA A4+     139.1   Suspended
Best Steel Logistics Ltd                NFBL                  ICRA A2+     300     Assigned
Bharti Airtel Ltd                       CP                    ICRA A1+     30000   Outstanding
Bharti Airtel Ltd                       Working Capital       ICRA A1+     2500    Outstanding
                                        Limits (rated on ST
                                        scale)
Gordhandas Gobindram                    BG                    ICRA A4      57.5    Suspended
Gordhandas Gobindram                    Untied Limits         ICRA A4      2.5     Suspended
Graduate Agro & Mechanical              Non-FBL - BG          ICRA A4      97.5    Downgraded
Engineers                                                                          from
                                                                                   A4+
Hcl Comnet Systems & Services           ST Non FB Fac         ICRA A1+     120     Reaffirmed
Ltd
Hcl Comnet Systems & Services           ST FB Fac             ICRA A1+     50      Reaffirmed
Ltd
Hcl Technologies Ltd                    ST FB Fac             ICRA A1+     3000    Reaffirmed
Hcl Technologies Ltd                    ST Non-FB Fac         ICRA A1+     5043.5  Reaffirmed
Hcl Technologies Ltd                    ST Fund Based/Non-FB  ICRA A1+     2500    Reaffirmed
                                        Fac
Hcl Technologies Ltd                    CP Programme          ICRA A1+     2000    Reaffirmed
J D Industries                          Non FBL - BG          ICRA A4      40      Reaffirmed
Kaveri Plasto Containers Pvt            Non-FBL               ICRA A4      -       Reaffirmed
Ltd
Kohli Industries                        ST FBL - Packing      ICRA A4      -       Reaffirmed
                                        Credit*
* sub-limit under Cash credit facility
Kohli Industries                        ST NFBL - LOC*        ICRA A4      -       Reaffirmed
* sub-limit under Cash credit facility
Kohli Industries                        ST NFBL - BG*         ICRA A4      -       Reaffirmed
* sub-limit under Cash credit facility
Maheshwari Multiple Mills Pvt           Working Capital       ICRA A4      80      Suspended
Ltd
Maheshwari Multiple Mills Pvt           Non-FB Fac            ICRA A4      2.1     Suspended
Ltd
Mastek Ltd                              Non-FBL               ICRA A1+     90      Rating watch
                                                                                   with
                                                                                   developing
implications
MVR Gas                                 ST, non-fund based    ICRA A4      26.7    Reaffirmed
                                        facilityBG
Raj Apiaries Exim Pvt Ltd               Non-FB Fac            ICRA A4      7.5     Suspended
Raj Apiaries Exim Pvt Ltd               Non-FB Fac            ICRA A4      49.2    Suspended
Sangeetha Mobiles Pvt Ltd               ST- FBL               ICRA A3+     300     Assigned
Sangeetha Mobiles Pvt Ltd               ST- Fund Based / Non  ICRA A3+     380     Assigned
                                        Fund Based
                                        Interchangeable Limits
Sharman Woollen Mills Ltd               ST - Non FB Fac       ICRA A4      30      Reaffirmed
Sivasri Engineering Pvt Ltd             Bk Fac                ICRA A4      55      Withdrawn
Surya Roshni Ltd                        CP                    ICRA A1+     550     Reaffirmed
Surya Roshni Ltd                        CP                    ICRA A1+     100     Reaffirmed
Triveni Smelters Pvt Ltd                LOC                   ICRA A4      35      Reaffirmed
Unipel Corporation                      ST FB Fac             ICRA A4      47.5    Suspended
Wallmark Ceramic Industry               Non-fund Based - BG   ICRA A4      11      Reaffirmed



MEDIUM TERM RATINGS:
-------------------
Saraswati Sugar Mills Ltd               Fixed Deposit Program MA-          600     Reaffirmed



LONG TERM RATINGS:
-------------------
Aarti Infrastructure And                CC Fac                ICRA BB-     50      Suspended
Buildcon Ltd
Aarti Infrastructure And                Non-FB Fac            ICRA BB-/A4  70      Suspended
Buildcon Ltd
Aarti Infrastructure And                Non-FB Fac            ICRA BB-/A4  100     Suspended
Buildcon Ltd
Adwaith Textiles Ltd                    Bk Fac                ICRA B+      167.7   Suspended
Anvil Cables Pvt Ltd                    TL                    ICRA BB+     50      Suspended
Anvil Cables Pvt Ltd                    Fund Based Working    ICRA BB+     300     Suspended
                                        capital
Aziz Memorial Charitable Trust          TL                    ICRA BBB-    60      Suspended
Bansal Infraprojects Pvt Ltd            CC Fac                ICRA BB      70      Suspended
Bansal Infraprojects Pvt Ltd            Non-fund Based Bk Fac ICRA BB/A4+  50      Suspended
Best Steel Logistics Ltd                TL                    ICRA A-      330     Outstanding
                                                                                   / Assigned
Bhandari Deepak Industries Pvt          Bk lines              ICRA C/A4    90      Suspended
Ltd
Bharti Airtel Ltd                       TL                    ICRA AA+     46000   Outstanding
Bharti Airtel Ltd                       Working Capital       ICRA AA+     22500   Outstanding
                                        Limits (rated on LT
                                        scale)
Gemtree Natural Produce Pvt Ltd         FBL                   ICRA BB-     150     Suspended
Globus Lifestyle Pvt Ltd                Bk Lines              ICRA D       120     Suspended
Gordhandas Gobindram                    CC Fac                ICRA BB      400     Suspended
Graduate Agro & Mechanical              FBL - CC              ICRA BB-     60      Downgraded
Engineers                                                                          from
                                                                                   BB+
Graduate Agro & Mechanical              FBL - Stand by Line   ICRA BB-     9       Downgraded
Engineers                               of Credit                                  from
                                                                                   BB+
Graduate Agro & Mechanical              FBL - TL              ICRA BB-     14      Downgraded
Engineers                                                                          from
                                                                                   BB+
Graduate Agro & Mechanical              Fund Based/ Non FBL - ICRA BB- /A4 1       Downgraded
Engineers                               Unallocated Limit                          from
                                                                                   BB+/A4+
Hcl Comnet Systems & Services           LT Non FB Fac         ICRA AA      80      Reaffirmed
Ltd
Hcl Technologies Ltd                    CC Fac                ICRA AAA     600     Reaffirmed
Hcl Technologies Ltd                    LT/ST FB Fac          ICRA AAA/A1+ 8069.9  Reaffirmed
Hcl Technologies Ltd                    LT/ST Non- FB Fac     ICRA AAA/A1+ 13786.6 Reaffirmed
International Leather Goods             Bk Fac                ICRA B+/A4   90      Suspended
J D Industries                          FBL - TL              ICRA B+      15.8    Reaffirmed
J D Industries                          FBL - CC              ICRA B+      65      Reaffirmed
J D Industries                          Fund Based/ Non FBL - ICRA B+ /A4  19.2    Reaffirmed /
                                        Untied Limit                               Assigned
Jagdamba Sponge Pvt Ltd                 Working capital       ICRA B+      55      Suspended
                                        facility
Jineshwar Malleable And Alloys          LT - TL               ICRA BB-     20      Reaffirmed
Jineshwar Malleable And Alloys          LT - Fund Based       ICRA BB-     40      Reaffirmed
Jineshwar Malleable And Alloys          LT/ ST - Unallocated  ICRA BB-/A4  5       Reaffirmed
Jmj Education Society                   TL                    ICRA BB      600     Withdrawn
Jyote Motors Pvt Ltd                    Bk Fac                ICRA BB-     120     Suspended
Kailash Electricals                     Bk Fac                ICRA BB-/A4  103.9   Suspended
Kaveri Plasto Containers Pvt            CC                    ICRA B+      40      Upgraded
Ltd                                                                                from B
Kaveri Plasto Containers Pvt            TL                    ICRA B+      29.3    Upgraded
Ltd                                                                                from B
Kaveri Plasto Containers Pvt            Unallocated Limit     ICRA B+/A4   19.8    Upgraded
Ltd                                                                                from
                                                                                   B/
                                                                                   Reaffirmed  
Kohli Industries                        LT FBL - CC           ICRA BB-     100     Reaffirmed
Lila Hospitals Pvt Ltd                  TL                    ICRA D       54      Suspended
Maheshwari Multiple Mills Pvt           TL                    ICRA BB-     7.8     Suspended
Ltd
Maheshwari Multiple Mills Pvt           Unallocated Limits    ICRA BB-/A4  10.1    Suspended
Ltd
Mailam Subramaniya Swamy                FB Fac                ICRA B+      137     Suspended
Educational Trust
Mailam Subramaniya Swamy                Unallocated Limits    ICRA B+      33      Suspended
Educational Trust
Mastek Ltd                              FB Limits             ICRA A+      40      Rating watch
                                                                                   with
                                                                                   implication
                                                                                   developing
Mastek Ltd                              FB/ Non-FBL           ICRA A+/A1+  60      Rating watch
                                                                                   with
                                                                                   implications 
                                                                                   developing 
Mfar Developers Pvt Ltd                 TL                    ICRA BB+     3950    Withdrawn
Millennia Realtors Pvt Ltd              LT - TL               ICRA BBB-    6297.6  Reaffirmed
MVR Gas                                 Long - term, TL       ICRA B+      38      Reaffirmed
MVR Gas                                 Long -term, fund      ICRA B+      72.5    Reaffirmed
                                        based facility - CC
MVR Gas                                 LT/ST - Proposed Fac  ICRA B+/A4   7.8     Assigned
Padmavati Infrastructure                Bk Fac                ICRA B/A4    119     Suspended
Company
Png Textiles Pvt Ltd                    Bk Fac                ICRA B       80      Suspended
Pundrikaksh Granites Pvt Ltd            Bk Fac                ICRA B+      333.1   Suspended
Raj Apiaries Exim Pvt Ltd               FB Fac                ICRA BB-     43.3    Suspended
Rakesh Singla                           Bk Fac                ICRA BB-     60      Suspended
Renite Vitrified Llp                    CC                    ICRA B       100     Assigned
Renite Vitrified Llp                    TL                    ICRA B       30      Assigned
Rithwik Power Projects Ltd              LT FB limits (TL)     ICRA BB-     14.6    Reaffirmed
Rithwik Power Projects Ltd              LT FB limits (CC)     ICRA BB-     80      Reaffirmed
Rithwik Power Projects Ltd              LT Unallocated        ICRA BB-     62.4    Reaffirmed
Rukmani Infra Projects Pvt Ltd          TL                    ICRA D       153.9   Suspended
Rukmani Infra Projects Pvt Ltd          CC                    ICRA D       100     Suspended
Rukmani Infra Projects Pvt Ltd          Unallocated Limits    ICRA D       46.1    Suspended
Rukmani Infra Projects Pvt Ltd          Non-fund Based Bk Fac ICRA D       22      Suspended
Rukmani Infra Projects Pvt Ltd          Unallocated Limits    ICRA D       46.1    Suspended
Safar Polyfibre Pvt Ltd                 unallocated Limits    ICRA B/A4    120     Assigned
Sangeetha Mobiles Pvt Ltd               LT / ST; Fund / Non   ICRA BBB /   20      Reaffirmed /
                                        Fund Based            ICRA A3+             Assigned
                                        Interchangeable Limits
Sharman Woollen Mills Ltd               LT - TL               ICRA BB-     41      Reaffirmed
Sharman Woollen Mills Ltd               LT - CC               ICRA BB-     125     Reaffirmed
Shiv Shakti Wahan Pvt Ltd               Fund based Bk Fac     ICRA BB      112.5   Suspended
Sivasri Engineering Pvt Ltd             Bk Fac                ICRA B+/A4   25      Withdrawn
Sri Duraiappa & Co                      Bk Fac                ICRA B       110     Suspended
Sri Duraiappa Agency                    Bk Fac                ICRA B       90      Suspended
Srishti Infrastructure Ltd.             Bk Fac                ICRA B+/A4   110     Suspended
Triveni Smelters Pvt Ltd                TL                    -            -       -
Triveni Smelters Pvt Ltd                CC                    ICRA BB-     103.4   Upgraded
                                                                                   from B+
Unipel Corporation                      LT FB Fac             ICRA B+      17.5    Suspended
Unipel Corporation                      unallocated Limits    ICRA B+/A4   5       Suspended
Usha Singla                             Bk Fac                ICRA BB-     60      Suspended
Wallmark Ceramic Industry               FB - Working Capital  ICRA B       20      Revised from
                                                                                   B+
Wallmark Ceramic Industry               FB - TL               ICRA B       44.4    Revised from
                                                                                   B+
Zen Lefin Pvt Ltd                       Over collateral       -            -       Assigned
Zen Lefin Pvt Ltd                       PTC Series A1         Provisional 
                                                              ICRA A-      113.7   Assigned
Zen Lefin Pvt Ltd                       PTC Series A2         Provisional 
                                                              ICRA A-      10.7    Assigned

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