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Company News

ICRA ratings for Indian debt instruments-May 8

    May 8 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of May 7, 2020.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Kapotex Industries Pvt Ltd              Export packing        ICRA A4      50      Reaffirmed
                                        Credit/Packing credit
                                        in Foreign Currency/ Export Bill Discounting
Kapotex Industries Pvt Ltd              LOC                   ICRA A4      50      Reaffirmed
Kapotex Industries Pvt Ltd              BG                    ICRA A4      5       Reaffirmed
Kapotex Industries Pvt Ltd              Credit Exposure Limit ICRA A4      1       Reaffirmed
Narayani Coke Pvt Ltd                   Non-Fund based – LOC  ICRA A3      650     Withdrawn
Narayani Coke Pvt Ltd                   Non-Fund based – BG#  ICRA A3      -20     Withdrawn
 #sublimit of Letter of credit facility     
Narayani Coke Pvt Ltd                   Non-Fund based –      ICRA A3      10      Withdrawn
                                        Forward Contract
Preet Agro Industries Pvt Ltd           Non-fund Based        ICRA A2+     50      Reaffirmed
Preet Tractors Pvt Ltd                  Non-fund Based        ICRA A2+     90      Reaffirmed
Usha International Ltd                  Non-FB Fac            ICRA A3+     1850    outstanding
 
LONG TERM RATINGS:
-------------------
Indiabulls Real Estate Company          LT - Fund Based TL    ICRA A-      22500   Reaffirmed
Pvt Ltd                                                       Stable
Indiabulls Real Estate Company          LT – Non-fund based   ICRA A-      140     Reaffirmed
Pvt Ltd                                                       Stable
Indiabulls Real Estate Company          LT – Unallocated      ICRA A-      1810    Reaffirmed
Pvt Ltd                                                       Stable
Indiabulls Real Estate Company          Non-Convertible       ICRA A-      7250    outstanding
Pvt Ltd                                 debentur              Stable
Kapotex Industries Pvt Ltd              Unallocated amount    ICRA B+      14      Reaffirmed
                                                              Stable/
                                                              ICRA A4
Kapotex Industries Pvt Ltd              CC#                   ICRA         -       Reaffirmed
                                                              B+Stable
#Sub limit of Export Packing Credit/Packing credit in Foreign Currency/ Export Bill Discounting
facility of Rs. 5.00 crore
Kapotex Industries Pvt Ltd              TL                    ICRA         22.8    Reaffirmed
                                                              B+Stable
Narayani Coke Pvt Ltd                   FB – CC^              ICRA BBB-    90      Withdrawn
                                                              Stable
^Full Interchangeability to Letter of credit facility
Preet Agro Industries Pvt Ltd           FB – CC               ICRA A-      180     Reaffirmed
                                                              (Negative)
Preet Tractors Pvt Ltd                  FB – CC               ICRA A-      145     Reaffirmed
                                                              (Negative)
Preet Tractors Pvt Ltd                  FB – TL               ICRA A-      350     Reaffirmed
                                                              (Negative)
Sapphire Lifesciences Pvt Ltd           Unallocated Limits    -            0       -
Sapphire Lifesciences Pvt Ltd           FB CC                 ICRA D       125     Reaffirmed
Sapphire Lifesciences Pvt Ltd           FB TL                 ICRA D       60      Reaffirmed
Shapoorji Pallonji Solar Pv             Fund Based – TL       ICRA BBB-&   1900
Pvt Ltd
&: ratings watch with developing implications
Tn Solar Power Energy Pvt Ltd           Fund Based – TL       ICRA A(CE)&  1450    -
&: ratings watch with developing implications
Tn Solar Power Energy Pvt Ltd           Fund Based – Working  ICRA A(CE)&  50      -
                                        Capital Fac 5.0
&: ratings watch with developing implications
Universal Mine Developers And           TL                    ICRA BBB(CE) 1560
Service Providers Pvt. Ltd
&: ratings watch with developing implications
Universal Mine Developers And           CC                    ICRA BBB(CE) 60
Service Providers Pvt. Ltd
&: ratings watch with developing implications
Usha International Ltd                  TL                    ICRA BBB     1600    outstanding
                                                              (Negative)
Usha International Ltd                  FB working capital FacICRA BBB     750     outstanding
                                                              (Negative)
--------------------------------------------------------------------------------------------
$: 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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