July 3, 2020 / 11:27 AM / in a month

ICRA ratings for Indian debt instruments-Jul 3

  Jul 3 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of July 2, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Agni Steels Pvt Ltd                    Fund Based – Drawee  ICRA A2     250    Reaffirmed
                                       Bill Discounting
Agni Steels Pvt Ltd                    Non-fund Based – LOC ICRA A2     100    Reaffirmed
Agni Steels Pvt Ltd                    Non-fund Based –     ICRA A2     -      Reaffirmed
                                       Interchangeable to BG
                                       (sublimit of LC)
Hindustan Aeronautics Ltd              CP                   ICRA A1+    25000  outstanding
Hindustan Aeronautics Ltd              Non-fund Based –     ICRA A1+    20500  outstanding
                                       Working Capital Limits
Srinivasa Edifice Pvt Ltd              Non FB limits        ICRA A4     372.5  -
(revised from ICRA A4+)


LONG TERM RATINGS:
-------------------
Agni Steels Pvt Ltd                    Fund Based – Working ICRA BBB+   750    Reaffirmed
                                       Capital Fac
(outlook revised to Negative from Stable)
Agni Steels Pvt Ltd                    Fund Based – TL      ICRA BBB+   312.4  Reaffirmed
(outlook revised to Negative from Stable)
Agni Steels Pvt Ltd                    Unallocated          ICRA        51.4   -
                                                            BBB+/ICRA A2
(outlook revised to Negative from Stable)
Guruvayoor Infrastructure Pvt          TL                   ICRA BBB    2130.2 Reaffirmed
Ltd                                                         (Stable)
Guruvayoor Infrastructure Pvt          Non – Convertible    ICRA BBB    783.9  Reaffirmed
Ltd                                    Debenture            (Stable)
Hindustan Aeronautics Ltd              Fund Based – Working ICRA        100000 -
                                       Capital Limits       AA(Stable)
(assigned / outstanding)
Pm Infrastructure Pvt Ltd              FB –TL               ICRA        770    Reaffirmed
                                                            BB-(Stable)
Sanghamithra Rural Financial           Bk Fac               ICRA        1129.9 -
Services                                                    BB+(Stable)
(Rating downgraded from ICRA BBB-(Stable))
Sanghamithra Rural Financial           Bk Fac Unallocated   ICRA        -      -
Services                                                    BB+(Stable)
(Rating downgraded from ICRA BBB-(Stable) ISSUER NOT COOPERATING. Withdrawn)
Sbfc Finance Pvt Ltd                   Aura Trust June 2020 Provisional 621.6  Assigned
                                       PTC Series A         ICRA AA(SO)
Shree Jagannath Expressways            Fund Based – TL      ICRA        10688  Reaffirmed
Pvt Ltd                                                     A-(Stable)
Srinivasa Edifice Pvt Ltd              FBL                  ICRA        145    Reaffirmed
                                                            BB(Stable)
Srinivasa Edifice Pvt Ltd              Unallocated          ICRA        382.5  -
                                                            BB(Stable)
                                                            /ICRA A4
(revised from ICRA A4+)
Tata Housing Development Co.           NCD Programme        ICRA AA     12500  -
Ltd                                                         (Stable)
(Re-affirmed and withdrawn)
--------------------------------------------------------------------------------------------
$: 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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