July 7, 2020 / 11:18 AM / a month ago

ICRA ratings for Indian debt instruments-Jul 7

    Jul 7 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of July 6, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Bharat Aluminium Co. Ltd               Non-FB Fac           ICRA A1+    31000  Reaffirmed
Bharat Aluminium Co. Ltd               CP                   ICRA A1+    10000  Reaffirmed
Caspian Impact Investments Pvt         Fund Based – Working ICRA A2     400    Reaffirmed
Ltd                                    Capital Fac
Chambal Fertilisers &                  CP                   ICRA A1+    45000  -
Chemicals Ltd
(assigned/outstanding)
Dcm Shriram Ltd                        Non-FB Limits        ICRA A1+    7000   Reaffirmed
Dcm Shriram Ltd                        CP                   ICRA A1+    8000   Reaffirmed
Flometallic India Pvt Ltd              Non-fund             ICRA A1+    300    Reaffirmed
                                       Based-Working Capital
                                       Fac
(removed from watch with developing implications)
Icici Prudential Asset                 ICICI Prudential     ICRA A1+mfs -      Reaffirmed
Management Co. Ltd                     Overnight Fund
Kantilal Chhotalal                     FB - Working Capital ICRA A2     375    Reaffirmed
                                       Fac
Kisan Phosphates Pvt Ltd               Non-FBL              ICRA A1     130    -
(assigned/reaffirmed)
Super Auto Forge Pvt Ltd               ST - Fund Based      ICRA A1+    600    Reaffirmed
(removed from watch with developing implications)
Super Auto Forge Pvt Ltd               ST – Interchangeable ICRA A1+    -      Reaffirmed
                                       (sublimit)
(removed from watch with developing implications)
The Icfai University Himachal          ST FB                ICRA A1+    120    Reaffirmed
Pradesh
The Icfai University Jaipur            ST FB                ICRA A1+    120    Assigned
The Icfai University Jharkhand         ST FB                ICRA A1+    -      -
(reaffirmed and withdrawn)
The Icfai University Meghalaya         ST FB                ICRA A1+    120    Reaffirmed
The Icfai University Mizoram           ST FB                ICRA A1+    -      -
(reaffirmed and withdrawn)
The Icfai University Nagaland          ST FB                ICRA A1+    120    Reaffirmed
The Icfai University Raipur            ST FB                ICRA A1+    120    Reaffirmed
Titan Co. Ltd                          CP                   ICRA A1+    15000  Outstanding
Unichem Laboratories Ltd               CP Programme         ICRA A1     -      -
(reaffirmed and withdrawn)


MEDIUM TERM RATINGS:
-------------------
Dcm Shriram Ltd                        Fixed Deposit        MAA+        400    Reaffirmed
                                       Programme
(Outlook revised to Stable from Positive)
Titan Co. Ltd                          Fixed Deposit        MAAA        20000  -
                                       Programme            (Stable)
(assigned/ outstanding)



LONG TERM RATINGS:
-------------------
Annapurna Finance Pvt Ltd              Vivriti Medivh 12    ICRA AA-(SO)152.8  Final Rating
                                       2019 - PTC Series A1
(provisional rating confirmed as final)
Annapurna Finance Pvt Ltd              Vivriti Medivh 12    ICRA        9      Final Rating
                                       2019 - PTC Series A2 BBB+(SO)
(provisional rating confirmed as final)
Bharat Aluminium Co. Ltd               FB Fac               ICRA AA-    6500   Reaffirmed
                                                            (Negative)
Bharat Aluminium Co. Ltd               NCD                  ICRA AA-    10000  Reaffirmed
                                                            (Negative)
Bharat Aluminium Co. Ltd               TL                   ICRA AA-    30500  Reaffirmed
                                                            (Negative)
Bharat Aluminium Co. Ltd               External Commercial  ICRA AA-    -      Reaffirmed
                                       Borrowings           (Negative)
Caspian Impact Investments Pvt         NCD Programme        ICRA        750    Assigned
Ltd                                                         BBB(Stable)
Caspian Impact Investments Pvt         NCD Programme        ICRA        -      -
Ltd                                                         BBB(Stable)
(outlook revised to Stable from Positive rating reaffirmed and simultaneously withdrawn)
Caspian Impact Investments Pvt         NCD Programme        ICRA        1430   Reaffirmed
Ltd                                                         BBB(Stable)
(outlook revised to Stable from Positive)
Caspian Impact Investments Pvt         LT FB Lines          ICRA        1900   Reaffirmed
Ltd                                                         BBB(Stable)
(outlook revised to Stable from Positive)
Dcm Shriram Ltd                        TL                   ICRA AA     5339   Reaffirmed
(Outlook revised to Stable from Positive)
Dcm Shriram Ltd                        FBL                  ICRA AA     10950  Reaffirmed
(Outlook revised to Stable from Positive)
Dcm Shriram Ltd                        Unallocated          ICRA AA /   1878.8 Reaffirmed
                                                            ICRA A1+
(Outlook revised to Stable from Positive)
Flometallic India Pvt Ltd              FB - Working Capital ICRA A+     800    Reaffirmed
                                       Fac                  (Stable)
(removed from watch with developing implications Stable outlook assigned)
Gaursons Realtech Pvt Ltd              Fund Based – TL      ICRA BBB    7500   Assigned
                                                            (Stable)
Grand Prix Engineering (P) Ltd         Issuer Rating        ICRA BBB-   -      Assigned
                                                            (Stable)
Icfai Foundation For Higher            TL                   ICRA        336.5  Reaffirmed
Education                                                   A+(Stable)
Icfai Foundation For Higher            Unallocated limits   ICRA        123.8  Reaffirmed
Education                                                   A+(Stable)
Icici Prudential Asset                 ICICI Prudential ST  ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Fund
Icici Prudential Asset                 ICICI Prudential FMP ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Series 82-1185 Days
                                       Plan I
Icici Prudential Asset                 ICICI Prudential     ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Bking and PSU Debt
                                       Fund
Icici Prudential Asset                 ICICI Prudential     ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Corporate Bond Fund
Icici Prudential Asset                 ICICI Prudential     ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Savings Fund
Icici Prudential Asset                 ICICI Prudential     ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Money Market Fund
Icici Prudential Asset                 ICICI Prudential     ICRA AAAmfs -      Reaffirmed
Management Co. Ltd                     Liquid Fund
Kisan Phosphates Pvt Ltd               TL                   ICRA A+     70     Reaffirmed
                                                            (Stable)
Kisan Phosphates Pvt Ltd               FBL                  ICRA A+     170    -
                                                            (Stable)
(assigned/reaffirmed)
S.M.I.L.E. Microfinance Ltd            LT – FB TL           -           1547   -
(ICRA is not releasing the ratings of the S.M.I.L.E. Microfinance Limited, as is otherwise
mandated by SEBI Regulations/Circulars, in due compliance with the directions passed by the
Hon’ble High Court of Madras vide its order dated 19th June, 2020 in the matter of S.M.I.L.E.
Microfinance Limited v. Union of India & Ors. (WP 8443 of 2020).)
S.M.I.L.E. Microfinance Ltd            LT - Unallocated     -           953    -
(ICRA is not releasing the ratings of the S.M.I.L.E. Microfinance Limited, as is otherwise
mandated by SEBI Regulations/Circulars, in due compliance with the directions passed by the
Hon’ble High Court of Madras vide its order dated 19th June, 2020 in the matter of S.M.I.L.E.
Microfinance Limited v. Union of India & Ors. (WP 8443 of 2020).)
S.M.I.L.E. Microfinance Ltd            NCD                  -           400    -
(ICRA is not releasing the ratings of the S.M.I.L.E. Microfinance Limited, as is otherwise
mandated by SEBI Regulations/Circulars, in due compliance with the directions passed by the
Hon’ble High Court of Madras vide its order dated 19th June, 2020 in the matter of S.M.I.L.E.
Microfinance Limited v. Union of India & Ors. (WP 8443 of 2020).)
S.M.I.L.E. Microfinance Ltd            NCD                  -           50     -
(ICRA is not releasing the ratings of the S.M.I.L.E. Microfinance Limited, as is otherwise
mandated by SEBI Regulations/Circulars, in due compliance with the directions passed by the
Hon’ble High Court of Madras vide its order dated 19th June, 2020 in the matter of S.M.I.L.E.
Microfinance Limited v. Union of India & Ors. (WP 8443 of 2020).)
Sandhya Aqua Exports Pvt. Ltd          Fund Based – TL      ICRA        500    Reaffirmed
                                                            BBB-(Stable)
Sandhya Aqua Exports Pvt. Ltd          Fund Based – Working ICRA        1800   Reaffirmed
                                       Capital Fac          BBB-(Stable)
Super Auto Forge Pvt Ltd               LT - Fund Based TL   ICRA AA-    200    Reaffirmed
                                                            (Stable)
(removed from watch with developing implications, Stable outlook assigned)
Super Auto Forge Pvt Ltd               LT - Fund Based/ CC  ICRA AA-    600    Reaffirmed
                                                            (Stable)
(removed from watch with developing implications, Stable outlook assigned)
Teestavalley Power                     TL                   ICRA D     10145.5 Reaffirmed
Transmission Ltd
The Icfai Society                      TL                   ICRA        288.5  Reaffirmed
                                                            A+(Stable)
The Icfai Society                      Unallocated limits   ICRA        2811.5 Reaffirmed
                                                            A+(Stable)
The Icfai University Himachal          LT FB                ICRA        30     Reaffirmed
Pradesh                                                     A+(Stable)
The Icfai University Jaipur            LT FB                ICRA        20     Assigned
                                                            A+(Stable)
The Icfai University Jharkhand         LT FB                ICRA        35     Reaffirmed
                                                            A+(Stable)
The Icfai University Meghalaya         LT FB                ICRA        30     Reaffirmed
                                                            A+(Stable)
The Icfai University Mizoram           LT FB                ICRA        40     Reaffirmed
                                                            A+(Stable)
The Icfai University Nagaland          LT FB                ICRA        30     Reaffirmed
                                                            A+(Stable)
The Icfai University Raipur            LT FB                ICRA        30     Reaffirmed
                                                            A+(Stable)
The Icfai University Tripura           TL                   ICRA        325    Reaffirmed
                                                            A+(Stable)
The Icfai University Tripura           LT FB                ICRA        50     Reaffirmed
                                                            A+(Stable)
Titan Co. Ltd                          Fund Based           ICRA AA+    17000  Outstanding
                                                            (Positive)
                                                            /ICRA A1+
Unichem Laboratories Ltd               LT, FB / Non FB Fac  ICRA A      1500   Outstanding
                                                            (Negative)
Vrl Logistics Ltd                      Fund Based- CC       ICRA A+     1239.5 Reaffirmed
                                                            (Stable)
Vrl Logistics Ltd                      Fund Based- TL       ICRA A+     84.1   Reaffirmed
                                                            (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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