for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

ICRA ratings for Indian debt instruments-Nov 17

    Nov 17 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of November 13 and 16, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adani Ports And Special Economic Zone   CP Programme          ICRA A1+     67000  Reaffirmed
Ltd
Baba Akhila Sai Jyothi Industries Pvt   ST - Non Fund Based   ICRA D       84.5
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
B.L.D.E University                      ST - Non Fund Based   ICRA A4      20
Rating continues to remain under ‘Issuer Not Cooperating’ category
Deccan Ispat Ltd                        ST - Unallocated      ICRA D       30
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Deccan Ispat Ltd                        ST – Non-Fund Based   ICRA D       70
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Gokul Agri International Ltd            Non-FBL               ICRA A3+     3619.6 Reaffirmed
K. S. Fiber                             Non-Fund Based        ICRA A4
                                        Foreign LOC
Rating continues to remain under ‘Issuer Not Cooperating’ category
Kaprisa International Pvt Ltd           ST - Fund Based       ICRA D       60
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Kaprisa International Pvt Ltd           ST - Interchangeable  ICRA D
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Prometrik Engineering Ltd (Formerly     ST - Non Fund Based   ICRA A4      50
Andhra Sinter Ltd)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rasi Electrodes Ltd                     ST – Interchangeable  ICRA A4+            Assigned
Shree Krishna Stevedores Pvt Ltd        ST: Non-fund based –  ICRA D       210
                                        BG
Downgraded from ICRA A4
Shri Haridarshan Jewellers              ST-Fund Based         ICRA D       20
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sepal Ceramic                           Non-fund Based – BG   ICRA A4      20
Rating continues to remain under ‘Issuer Not Cooperating’ category
Servocontrols And Hydraulics (I) Pvt LtdST - Non Fund Based   ICRA A4      34
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Servocontrols And Hydraulics (I) Pvt LtdST - Interchangeable  ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Tata Power Delhi Distribution Ltd       Non-fund Based        ICRA A1+     8200
                                        Working Capital Limits
Reaffirmed/ Assigned
Tata Power Delhi Distribution Ltd       ST Bk Facility        ICRA A1+     3750   Assigned
Tata Power Delhi Distribution Ltd       CP                    ICRA A1+     5000   Reaffirmed
Tata Power Delhi Distribution Ltd       ST Debt               ICRA A1+     2000
reaffirmed and withdrawn

MEDIUM TERM RATINGS:
-------------------
Tamilnadu Transport Development Finance Fixed Deposit         MA- (Stable) 10471.2Reaffirmed
Corporation Ltd                         Programme

LONG TERM RATINGS:
-------------------
Adani Hazira Port Ltd (Erstwhile Adani  Rating Without        ICRA AA
Hazira Port Pvt Ltd)                    Explicit Credit
                                        Enhancement
Adani Hazira Port Ltd (Erstwhile Adani  FB - TL               ICRA AA+(CE) 6000   Reaffirmed
Hazira Port Pvt Ltd)
rating watch with negative implications removed and Stable , outlook
Adani Ports And Special Economic Zone   NCD                   ICRA AA+     70000  Reaffirmed
Ltd
rating watch with negative implications removed and Stable , outlook
Adani Ports And Special Economic Zone   Bk Fac                ICRA AA+     100200 Reaffirmed
Ltd
rating watch with negative implications removed and Stable , outlook
Adyah Solar Energy Pvt Ltd              TL (Proposed)         ICRA A-&     10640  Assigned
watch with developing implications
Adyah Solar Energy Pvt Ltd              Working Capital       ICRA A-&     800    Assigned
                                        (Proposed)
watch with developing implications
Ajab Singh And Company                  Fund Based -CC        ICRA B+      182
                                                              (Stable)
Downgraded from ICRA BB-(Stable) and continues to remain under ‘Issuer Not Cooperating’
category.
Ajab Singh And Company                  LT - Non-fund Based   ICRA B+      200
                                                              (Stable)
Downgraded from ICRA BB-(Stable) and continues to remain under ‘Issuer Not Cooperating’
category.
Ambica Timbertrade Pvt. Ltd.            Fund Based            ICRA D       50
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ambica Timbertrade Pvt. Ltd.            Non-fund Based        ICRA D       300
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Annapurna Finance Pvt Ltd               NCD programme         ICRA         1000   Assigned
                                                              A-(Stable)
Annapurna Finance Pvt Ltd               LT Bk lines           ICRA         11000  Outstanding
                                                              A-(Stable)
Annapurna Finance Pvt Ltd               Subordinated debt     ICRA         890    Outstanding
                                        programme             A-(Stable)
Annapurna Finance Pvt Ltd               NCD programme         ICRA         4282.4 Outstanding
                                                              A-(Stable)
Annur Satya Textile Ltd                 LT Fund based TL      ICRA B-&     28
rating placed on Watch with Developing Implications
Annur Satya Textile Ltd                 LT FB CC              ICRA B-&     120
rating placed on Watch with Developing Implications
Annur Satya Textile Ltd                 LT Non-Fund based     ICRA B-&     10
rating placed on Watch with Developing Implications
Annur Satya Textile Ltd                 LT/ST –               ICRA B-& /A4&
                                        Interchangeable
rating placed on Watch with Developing Implications
Annur Satya Textile Ltd                 LT/ST Unallocated     ICRA B-& /A4&14.8
rating placed on Watch with Developing Implications
Arinsun Clean Energy Pvt Ltd            TL                    ICRA         9045   Reaffirmed
                                                              A(Stable)
Arinsun Clean Energy Pvt Ltd            CC                    ICRA         455    Reaffirmed
                                                              A(Stable)
Ashoka Kharar Ludhiana Road Ltd         Fund Based – TL       ICRA A+      6000
Upgraded from ICRA A- and outlook revised to Positive from Stable
B.L.D.E University                      LT - Fund Based/ CC   ICRA B+      40
                                                              (Stable)
Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’ category
B.L.D.E University                      LT - Fund Based TL    ICRA B+      40
                                                              (Stable)
Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’ category
Baba Akhila Sai Jyothi Industries Pvt   LT - Fund Based/ CC   ICRA D       180
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Baba Akhila Sai Jyothi Industries Pvt   LT - Fund Based TL    ICRA D       123.5
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Canara Bank                             Basel III Additional  ICRA AA      15000
                                        Tier I Bonds          (hyb)
                                                              (Stable)
upgraded from ICRA AA-(hyb)&, removed from Watch with Developing Implications and Stable outlook
assigned
Canara Bank                             Basel III Tier II     ICRA AA+     79000  Reaffirmed
                                        Bonds                 (hyb)
                                                              (Stable)
removed from Watch with Developing Implications and Stable outlook assigned
Coastal Energen Pvt Ltd                 -                     -
Issuer Not Cooperating due to Non Submission of No Default Statement (NDS)
Fairleaf Real Estate Pvt Ltd            LT Fund based – TL    ICRA A+      4130
                                                              (Stable)
Upgraded from ICRA A (Stable)
Fairleaf Real Estate Pvt Ltd            LT Unallocated        ICRA A+      870
                                                              (Stable)
Upgraded from ICRA A (Stable)
Fine Facets India Pvt Ltd               Fund based: Packing   ICRA D       50
                                        credit limits
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Fine Facets India Pvt Ltd               Fund based: Post      ICRA D       90
                                        shipment credit limits
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Fine Facets India Pvt Ltd               Non-fund based:       ICRA D
                                        Foreign LOC
                                        interchangeable limits
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Gokul Agri International Ltd            LT Fund Based – CC    ICRA BBB     1000   Reaffirmed
                                                              (Stable)
Gokul Agri International Ltd            LT/ ST Unallocated    ICRA BBB     80.4   Reaffirmed
                                                              (Stable)/A3+
Gokul Overseas                          LT/ ST Bk             ICRA BBB-    1000   Reaffirmed
                                        limits-FB/Non-fund    (Stable)/ A3
                                        Based
Gokul Overseas                          LT/ ST Unallocated    ICRA BBB-    200    Reaffirmed
                                                              (Stable)/ A3
Gokul Refoils & Solvent Ltd             LT/ST (Proposed)      ICRA BBB     500    Reaffirmed
                                                              (Stable)/ A3+
K. S. Fiber                             Fund based - CC       ICRA B       80
                                                              (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
K. S. Fiber                             Fund based - TL       ICRA B       161
                                                              (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
M Ganesh                                LT - Fund Based/ CC   ICRA B+      30
                                                              (Stable)
Rating continue to remain under the ‘Issuer Not Cooperating’ category
M Ganesh                                LT / ST - Non Fund    ICRA B+      20
                                        Base                  (Stable) / A4
Rating continue to remain under the ‘Issuer Not Cooperating’ category
M/S Karun Rice & General Mills          CC                    ICRA B       65
                                                              (Stable)
Rating Continues to remain under Issuer Not Cooperating’ category
M/S Karun Rice & General Mills          Unallocated           ICRA B       5
                                                              (Stable)
Rating Continues to remain under Issuer Not Cooperating’ category
Magadh Precision Equipment Ltd          Fund Based            ICRA D       500
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Magadh Precision Equipment Ltd          Non-fund Based        ICRA D       250
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mit World Peace University              Fund Based – TL       ICRA A-      350    Assigned
                                                              (Stable)
Motorola Solutions India Pvt Ltd        Non-FB Fac            ICRA A-      7500   Assigned
                                                              (Stable)/
                                                              ICRA A2+
Prometrik Engineering Ltd (Formerly     LT - Fund Based/ CC   ICRA B+      25
Andhra Sinter Ltd)                                            (Stable)
Downgraded from ICRA BB-(Stable) Issuer Not Cooperating and continues to remain in the ‘Issuer
Not Cooperating’ category
Prometrik Engineering Ltd (Formerly     LT - Fund Based TL    ICRA B+      100
Andhra Sinter Ltd)                                            (Stable)
Downgraded from ICRA BB-(Stable) Issuer Not Cooperating and continues to remain in the ‘Issuer
Not Cooperating’ category
Prometrik Engineering Ltd (Formerly     LT / ST - Unallocated ICRA B+      125
Andhra Sinter Ltd)                                            (Stable)/
                                                              ICRA A4
Long term Rating downgraded from ICRA BB-(Stable) Issuer Not Cooperating and continues to remain
in the ‘Issuer Not Cooperating’ category
Rasi Electrodes Ltd                     LT – FB/CC            ICRA BB+     100    Assigned
                                                              (Stable)
Rasi Electrodes Ltd                     LT – Interchangeable  ICRA BB+            Assigned
                                                              (Stable)
Ravi Iron Ltd                           LT FB Fac             ICRA B+      244
                                                              (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Rocket Kommerce Llp                     LT/ST - Fund          ICRA BBB+    5200   Assigned
                                        based/Non Fund based  (Stable) /
                                                              ICRA A2
Seoyon E-Hwa Summit Automotive          LT - Fund Based TL    ICRA BB+     4153.3 Assigned
Anantapur Pvt Ltd                                             (Stable)
Seoyon E-Hwa Summit Automotive          LT / ST - Unallocated ICRA BB+     346.7  Assigned
Anantapur Pvt Ltd                                             (Stable)/
                                                              ICRA A4+
Sepal Ceramic                           FB – TL               ICRA B+      12.4
                                                              (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sepal Ceramic                           FB – CC               ICRA B+      34
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sepal Ceramic                           Unallocated Limits    ICRA B+      14.9
                                                              (Stable)/
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Servocontrols And Hydraulics (I) Pvt LtdLT - Fund Based/ CC   ICRA B+      65
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Servocontrols And Hydraulics (I) Pvt LtdLT - Fund Based TL    ICRA B+      8.3
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Servocontrols And Hydraulics (I) Pvt LtdLT - Unallocated      ICRA B+      2.7
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shanti Developers                       LT – Fund based TL    ICRA C       74
Rating continue to remain in ‘Issuer Not Cooperating’ category.
Sharda Timbers                          Fund Based            ICRA D       58.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sharda Timbers                          Non-fund Based        ICRA D       191.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shiv Cotton Industries- Tankara         FB – CC               ICRA D       50
Issuer Not Cooperating Rating continues to remain under ‘Issuer Not Cooperating’ category
Shiv Cotton Industries- Tankara         Fund Based: TL        ICRA D       15
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shree Khodiyar Oil Industries           Fund Based: CC        ICRA D       150
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shree Krishna Stevedores Pvt Ltd        LT: Fund based – TL   ICRA D       445
Downgraded from ICRA BB(Stable)
Shree Krishna Stevedores Pvt Ltd        LT: Fund based – CC   ICRA D       195
Downgraded from ICRA BB(Stable)
Shri Haridarshan Jewellers              Fund Based: CC        ICRA D       105
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shri Shyamji Agrico Exports Pvt Ltd     CC                    ICRA D       152.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shri Shyamji Agrico Exports Pvt Ltd     TL                    ICRA D       57.2
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shri Shyamji Agrico Exports Pvt Ltd     Unallocated           ICRA D       2.8
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Tamilnadu Transport Development Finance Rating Without        ICRA BBB-
Corporation Ltd                         Explicit Credit
                                        Enhancement Bk Fac
Tamilnadu Transport Development Finance Bk Fac - CC           ICRA BBB+    40000
Corporation Ltd                                               (CE) (Stable)
Assigned/ Reaffirmed
Tata Power Delhi Distribution Ltd       TL                    ICRA AA-     35050  Reaffirmed
                                                              (Stable)
Tata Power Delhi Distribution Ltd       FB Working Capital    ICRA AA-     5950   Reaffirmed
                                        Limits                (Stable)
Ti Steels Pvt Ltd                       LT – Fund based TL    ICRA D       11
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Ti Steels Pvt Ltd                       LT – Fund based CC    ICRA D       395
Rating Continues to remain under the ‘Issuer Not Cooperating’ category.
Trishakti Agro Foods                    -                     -
Issuer Not Cooperating due to Non Submission of No Default Statement (NDS)
Vgn Projects Estates Pvt Ltd            Issuer rating         ICRA D
Downgraded from ICRA B- (Stable) and moved to Issuer Not Cooperating category
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A2         ICRA A (SO)  7.7
Northern Arc 2019 Sbl Morgan
Upgraded from ICRA BBB+(SO)
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A1         ICRA A+ (SO) 29.5   Reaffirmed
Northern Arc 2019 Sbl Morgan
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A1         ICRA BBB-    126.3  Reaffirmed
Northern Arc 2020 Sbl Mihira                                  (SO)
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A2         ICRA A- (SO) 10.3
Vivriti Berry 10 2019
Upgraded from ICRA BBB+(SO)
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A1         ICRA A+ (SO) 123.3  Reaffirmed
Vivriti Berry 10 2019
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A2         ICRA A- (SO) 12.9
Vivriti Cordell 01 2020
Upgraded from ICRA BBB+(SO)
Visage Holdings & Finance Pvt. Ltd.-    PTC Series A1         ICRA A+ (SO) 186.7  Reaffirmed
Vivriti Cordell 01 2020
Vitp Pvt Ltd                            NCD Programme         ICRA BBB     3500   Outstanding
                                                              (Stable)
Vitp Pvt Ltd                            Proposed NCD ProgrammeICRA BBB     3000   Assigned
                                                              (Stable)
Vivriti Capital Pvt Ltd- Epimoney Pvt   Loans                 ICRA A- (CE) 33.3   Reaffirmed
Ltd                                                           (Stable)
Vivriti Capital Pvt Ltd- Midland        Loans                 ICRA A- (CE) 62.5   Reaffirmed
Microfin Ltd                                                  (Stable)
Vivriti Capital Pvt Ltd- Oxyzo          Loans                 ICRA A- (CE) 40     Reaffirmed
Financial Services Pvt Ltd                                    (Stable)
Vivriti Capital Pvt Ltd- S.M.I.L.E.     Loans                 ICRA A- (CE)        Withdrawn
Microfinance Ltd                                              (Stable)
Vivriti Capital Pvt Ltd- Sambandh       Loans                 ICRA A- (CE) 70     Reaffirmed
Finserve Pvt Ltd                                              (Stable)
Vivriti Capital Pvt Ltd- Svasti         Loans                 ICRA A- (CE) 37.5   Reaffirmed
Microfinance Pvt Ltd                                          (Stable)
Vivriti Capital Pvt Ltd- Up Money Ltd   Loans                 ICRA A- (CE) 70.8   Reaffirmed
                                                              (Stable)
Vivriti Capital Pvt Ltd- Wheelsemi Pvt  Loans                 ICRA A- (CE) 23.3   Reaffirmed
Ltd                                                           (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)
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up