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ICRA ratings for Indian debt instruments-Aug 26

    Aug 26 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of August 25, 2020.

COMPANY                                INSTRUMENT           RATING      AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                 ----------           ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Airvision India Pvt Ltd                Non-fund Based       ICRA A4     190    Reaffirmed
Ambuja Pipes Pvt Ltd                   Non-Fund Based-LOC   ICRA A4     92.5
Continues to remain under the ‘Issuer Not Cooperating’ category
Austin Plywood Pvt. Ltd.               Non-fund based - BG  ICRA A3+    10     Assigned
Brajesh Packaging Pvt Ltd              ST, Nonfund based –  ICRA D      1.4
                                       BG
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
East Coast Engineering Company         ST – Non Fund Based  ICRA A4     40     Outstanding
Hanuman Rice Mills                     Fund Based- Packing  ICRA A4     50
                                       Credit
Continues to remain under the ‘Issuer Not Cooperating’ category
Hexagon Nutrition (Exports) Pvt Ltd    ST: Fund based       ICRA A2     110    Reaffirmed
Hexagon Nutrition (Exports) Pvt Ltd    ST: Non-fund based   ICRA A2     53     Reaffirmed
Hexagon Nutrition (International) Pvt  ST: Fund based /     ICRA A2     32.5   Reaffirmed
Ltd                                    Non-Fund based
Hexagon Nutrition Pvt Ltd              ST, FB               ICRA A2     90     Reaffirmed
Hexagon Nutrition Pvt Ltd              ST, Non-fund based   ICRA A2     30     Reaffirmed
Japfa Comfeed India Pvt Ltd            ST – Interchangeable^ICRA A2     0      Reaffirmed
^: sublimit of cash credit facilities
Mohan Mutha Exports Pvt Ltd            Non-fund based       ICRA A3     1000   Issuer yet
                                       facility                                to provide
                                                                               information
National Industrial Corporation Ltd    Non-fund Based       ICRA A4     8.7
Rating downgraded from ICRA A4+ and continues to remain in the ‘Issuer Not Cooperating’ category
Noble Moulds Pvt Ltd                   Non-fund Based       ICRA A4     50     Reaffirmed
Precise Seamless Apparels Pvt Ltd      ST – Non-fund Based  ICRA A4     80
Rating moved to ‘Issuer Not Cooperating’ category
Radhika Packaging Pvt Ltd              ST, Non-fund based – ICRA D      1.2
                                       BG
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Shamli Steels Pvt Ltd                  Non-FB limits        ICRA A4     20
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shunty Bunty Automobiles Pvt Ltd       Non-FB Fac           ICRA A4     2
Continues to remain under the ‘Issuer Not Cooperating’ category
Sun Home Appliances Pvt Ltd            Non- fund Based      ICRA A4     60     Reaffirmed
Suyash Polymer                         ST, Non-fund based – ICRA D      1.3
                                       BG
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Ultra Dimensions Pvt Ltd               Non-fund Based – BG  ICRA A4+    490    upgraded
                                                                               from ICRA A4

LONG TERM RATINGS:
-------------------
Airvision India Pvt Ltd                Fund based-CC        ICRA BB-    85     Reaffirmed
                                                            (Stable)
Airvision India Pvt Ltd                Fund based-TL        ICRA BB-    25     Reaffirmed
                                                            (Stable)
Alapatt Fashion Jewellery, Kozhikode   LT – CC              ICRA D      70
Issuer not co-operating; Withdrawn
Alapatt Jewellers (Alapatt Heritage),  LT – CC              ICRA D      170
Ernakulam
Issuer not co-operating; Withdrawn
Alapatt Jewellers (Alapatt Heritage),  LT- Unallocated      ICRA D      50
Ernakulam
Issuer not co-operating; Withdrawn
Ambuja Pipes Pvt Ltd                   Fund Based- CC       ICRA B      110
                                                            (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Ambuja Pipes Pvt Ltd                   Fund Based-TL           ICRA B      37.5
                                                            (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Austin Plywood Pvt. Ltd.               Fund based – CC      ICRA BBB    125    Assigned
                                                            (Stable)
Austin Plywood Pvt. Ltd.               Fund based – Common  ICRA BBB    12.5   Assigned
                                       Covid-19 Emergency   (Stable)
                                       Credit Line
Austin Plywood Pvt. Ltd.               Unallocated Limits   ICRA BBB    202.5  Assigned
                                                            (Stable)/
                                                            ICRA A3+
Brajesh Packaging Pvt Ltd              LT, Fund             ICRA D      7.3
Based-Term Loan Rating Continues to remain under the ‘Issuer 
Not Cooperating’ category.
Brajesh Packaging Pvt Ltd              LT, Fund Based-CC    ICRA D      67.5
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Desai Textiles                         FB – CC              ICRA B-     65     Withdrawn
                                                            (Stable)
Desai Textiles                         FB – TL              ICRA B-     33.7   Withdrawn
                                                            (Stable)
East Coast Engineering Company         LT – Fund Based - CasICRA        120    Assigned/
                                                            BB-(Stable)        Outstanding
Fairyland Foundations Pvt Ltd          LT- Unallocated      ICRA B+     100
                                                            (Stable)
Rating downgraded from ICRA BB- (Stable) Issuer Not Cooperating and continues to remain under
‘Issuer Not Cooperating’ category
Gowra Ventures Pvt Ltd                 LT - Unallocated     ICRA BB+    100    Issuer
                                                            (Stable)           delayed in
                                                                               giving
information
Hanuman Rice Mills                     Fund Based- CC       ICRA B      100
                                                            (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Harshita Polypack                      LT, Fund based-TL    ICRA D      13.7
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Harshita Polypack                      LT, Fund based-CC    ICRA D      46
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Harshita Polypack                      ST, Nonfund based – BICRA D      0.9
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Hexagon Nutrition (Exports) Pvt Ltd    LT: Fund based – TL  ICRA BBB+   60
Reaffirmed; Outlook revised to Positive from Stable
Hexagon Nutrition (International) Pvt  LT: Fund based – TL  ICRA BBB+   10
Ltd
Reaffirmed; Outlook revised to Positive from Stable
Hexagon Nutrition Pvt Ltd              LT, FB – CC          ICRA BBB+   100
Reaffirmed; Outlook revised to Positive from Stable
Hexagon Nutrition Pvt Ltd              LT, FB – TL          ICRA BBB+   70
Reaffirmed; Outlook revised to Positive from Stable
Japfa Comfeed India Pvt Ltd            LT – Fund Based / TL ICRA        1200   Reaffirmed
                                                            BBB+(Stable)
Japfa Comfeed India Pvt Ltd            LT – Fund Based / CC ICRA        900    Reaffirmed
                                                            BBB+(Stable)
Kalinga Distributors                   LT – Fund Based      ICRA        90
                                                            B+(Stable)
Issuer not co-operating; Withdrawn
Kalinga Distributors                   LT – Unallocated     ICRA        10
                                                            B+(Stable)
Issuer not co-operating; Withdrawn
Lariya Art Palace Pvt Ltd              FBL                  ICRA        60
                                                            B+(Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Lariya Art Palace Pvt Ltd              Unallocated          ICRA        10
                                                            B+(Stable)/A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mittal Clothing Company                LT- Working capital  ICRA BB+    200    withdrawn
                                       Fac                  (Positive)
Mittal Clothing Company                LT/ ST – Unallocated ICRA BB+    5.1    withdrawn
                                                            (Positive)/
                                                            ICRA A4+
Mohan Mutha Exports Pvt Ltd            Fund based/ CC       ICRA BBB-   900    Issuer yet
                                       facility             (Stable)           to provide
                                                                               information
National Industrial Corporation Ltd    LT Fund Based        ICRA        230
                                                            B+(Stable)
Rating downgraded from ICRA BB (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Noble Moulds Pvt Ltd                   Fund based-CC        ICRA BB-    170    Reaffirmed
                                                            (Stable)
Noble Moulds Pvt Ltd                   Fund based-TL        ICRA BB-    79     Reaffirmed
                                                            (Stable)
Precise Seamless Apparels Pvt Ltd      LT FB TL             ICRA B+     110
                                                            (Stable)
Rating downgraded from ICRA BB- (Stable) and moved to ‘Issuer Not Cooperating’ category
Precise Seamless Apparels Pvt Ltd      LT FB CC             ICRA B+     150
                                                            (Stable)
Rating downgraded from ICRA BB- (Stable) and moved to ‘Issuer Not Cooperating’ category
Purandar Milk And Agro Products Ltd    TL                   ICRA D      50
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Purandar Milk And Agro Products Ltd    CC                   ICRA D      9
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Purandar Milk And Agro Products Ltd    Unallocated          ICRA D      11
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Radhika Packaging Pvt Ltd              LT, Fund Based TL    ICRA D      10.9
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Radhika Packaging Pvt Ltd              LT, Fund Based CC    ICRA D      46
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Rashmi Housing Pvt Ltd                 TL                   ICRA D      650
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Shamli Steels Pvt Ltd                  FB- TL               ICRA        205.4
                                                            B+(Stable)
Rating downgraded from ICRA BB (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Shamli Steels Pvt Ltd                  FB- CC               ICRA        150
                                                            B+(Stable)
Rating downgraded from ICRA BB (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Shankar Rice & Gen. Mills              LT Fund Based        ICRA        745
                                                            B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sheeltron Digital Systems Pvt Ltd      LT - Fund Based/ CC  ICRA B+     53
                                                            (Stable)
Issuer not co-operating; Withdrawn
Sheeltron Digital Systems Pvt Ltd      LT - Fund Based TL   ICRA B+     20
                                                            (Stable)
Issuer not co-operating; Withdrawn
Shree Kaushalya Fibers                 LT - Fund Based – CC ICRA B      45
                                                            (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Shree Kaushalya Fibers                 LT - Fund Based – TL ICRA B      15
                                                            (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Shree Kaushalya Fibers                 LT - Unallocated     ICRA        30
                                                            B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shunty Bunty Automobiles Pvt Ltd       FB Fac               ICRA        147.5
                                                            B(Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Shunty Bunty Automobiles Pvt Ltd       Unallocated Limits   ICRA        50.5
                                                            B(Stable) /A4
Continues to remain under the ‘Issuer Not Cooperating’ category
Sun Home Appliances Pvt Ltd            Fund based-CC        ICRA BB-    200    Reaffirmed
                                                            (Stable)
Sun Home Appliances Pvt Ltd            Unallocated          ICRA        40     Reaffirmed
                                                            BB-(Stable)
                                                            /A4
Suyash Polymer                         LT, Fund BasedTL     ICRA D      8.6
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Suyash Polymer                         LT, Fund BasedCC     ICRA D      46
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Tulsi Corporation                      Fund based- TL       ICRA BB-    250    Withdrawn
                                                            (Stable)
Ultra Dimensions Pvt Ltd               Fund based           ICRA BB+    60
upgraded from ICRA BB; Outlook revised to Stable from Positive
Ultra Dimensions Pvt Ltd               TL                   ICRA BB+    78.2
upgraded from ICRA BB; Outlook revised to Stable from Positive
Ultra Dimensions Pvt Ltd               Unallocated          ICRA BB+    371.8
upgraded from ICRA BB; Outlook revised to Stable from Positive
Vishesh Engineering Company            LT – CC limits       ICRA BB-    100    Outstanding
                                                            (Stable)
Vishesh Engineering Company            LT – Non-Fund based– ICRA BB-    45     Assigned
                                       BG                   (Stable)

--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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