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ICRA ratings for Indian debt instruments-Nov 3

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


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Alliance Polysacks Pvt Ltd             ST – Non-fund Based  ICRA A4+    150    Reaffirmed
                                       LOC
Alliance Polysacks Pvt Ltd             ST – Non-fund Based  ICRA A4+    40     Reaffirmed
                                       BG
Fleur Hotels Pvt Ltd                   ST Non-Fund Based    ICRA A2+    30     Reaffirmed
Fleur Hotels Pvt Ltd                   ST FB                ICRA A2+    100    Reaffirmed
Oxyzo Financial Services Pvt           CP Programme         ICRA A2+    250    -
Ltd
(Upgraded from ICRA A2)
Superhouse Ltd                         Non-fund             ICRA A2     575    Reaffirmed
                                       based-Working Capital
                                       Fac
 

LONG TERM RATINGS:
-------------------
Alliance Polysacks Pvt Ltd             LT – FB CC           ICRA BB+    400    Reaffirmed
(Outlook revised from Stable to Positive)
Alliance Polysacks Pvt Ltd             LT – FB TL           ICRA BB+    520    Reaffirmed
(Outlook revised from Stable to Positive)
Alliance Polysacks Pvt Ltd             LT/ST - Unallocated  ICRA BB+/A4+ 90    Reaffirmed
(Outlook revised from Stable to Positive)
Canary Hotels Pvt Ltd                  LT FB – TL           ICRA A-     211.2  Reaffirmed
                                                            (Negative
Canary Hotels Pvt Ltd                  LT/ST Unallocated    ICRA A-     8.8    -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Celsia Hotels Pvt Ltd                  LT FB – TL           ICRA A-     400    Reaffirmed
                                                            (Negative)
Celsia Hotels Pvt Ltd                  LT/ST Unallocated    ICRA A-     114    -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Clix Finance India Pvt Ltd             Clix BOI DA PCG      ICRA A-(SO) 591.2  -
                                       Tranche - I Assignee
                                       Payouts
(provisional rating confirmed as final)
Desai Distributors                     FB CC                ICRA B+     260    -
                                                            (Stable)
(Rating downgraded from ICRA BB-(Stable) and moved to ‘Issuer Not Cooperating’ category.)
Fleur Hotels Pvt Ltd                   LT-ST Unallocated    ICRA A-     0.5    Reaffirmed
                                                            (Negative)/
                                                            ICRA A2+
Fleur Hotels Pvt Ltd                   LT FB – TL           ICRA A-     5909.5 Reaffirmed
                                                            (Negative) 
Fleur Hotels Pvt Ltd                   LT Non-Fund Based    ICRA A-     110    Reaffirmed
                                                            (Negative) 
Haryana City Gas Distribution          LT – FB CC           ICRA BB-    20     Reaffirmed
(Bhiwadi) Ltd                                               (Stable) 
Haryana City Gas Distribution          LT – FB TL           ICRA BB-    170    Reaffirmed
(Bhiwadi) Ltd                                               (Stable) 
Haryana City Gas Distribution          LT – Non-fund Based –ICRA BB-    50     Reaffirmed
(Bhiwadi) Ltd                          BG                   (Stable) 
Hecate Warehousing Pvt Ltd             Fund based-TL        ICRA A-     1910   Reaffirmed
                                                            (Stable)
Hyacinth Hotels Pvt Ltd                LT FB – TL           ICRA A-     1232.4 Reaffirmed
                                                            (Negative)
Hyacinth Hotels Pvt Ltd                LT/ST Unallocated    ICRA A-     176.6  -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Iifl Finance Ltd                       Shining Metal Trust  Provisional 3700   Assigned
                                       October 2020 -PTCs   ICRA AAA(SO)
                                       Series A
Inovoa Hotels And Resorts Ltd          LT FB – TL           ICRA A-     327.6  ICRA A-
                                                            (Negative)         (Negative) /
                                                                               ICRA A2+
Inovoa Hotels And Resorts Ltd          LT/ST Unallocated    ICRA A-     21     -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Lemon Tree Hotels Ltd                  LT FB – TL           ICRA A-     1087.8 Reaffirmed
                                                            (Negative)
Lemon Tree Hotels Ltd                  LT/ Short -term –    ICRA A-     300    Reaffirmed
                                       Fund Based Working   (Negative)
                                       Capital              / ICRA A2+
Lemon Tree Hotels Ltd                  LT/ Short -term –    ICRA A-     72.2   Reaffirmed
                                       Unallocated          (Negative)
                                                            / ICRA A2+
Oriole Dr. Fresh Hotels Pvt Ltd        LT FB – TL           ICRA A-     240.8  Reaffirmed
                                                            (Negative)
Oriole Dr. Fresh Hotels Pvt Ltd        LT/ST Unallocated    ICRA A-     7.5    -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Oxyzo Financial Services Pvt           Long-TL              ICRA A-(CE) 80     Reaffirmed
Ltd                                                         (Stable) 
Oxyzo Financial Services Pvt           NCD                  ICRA A-(CE) 230    Reaffirmed
Ltd                                                         (Stable) 
Oxyzo Financial Services Pvt           NCD                  ICRA BBB+   1120   -
Ltd                                                         (Stable) 
(Upgraded from ICRA BBB (Stable))
Oxyzo Financial Services Pvt           LT Bk Lines          ICRA BBB+   2000   -
Ltd                                                         (Stable) 
(Upgraded from ICRA BBB (Stable))
Oxyzo Financial Services Pvt           Issuer Rating        ICRA BBB+   -      -
Ltd                                                         (Stable) 
(Upgraded from ICRA BBB (Stable))
Oxyzo Financial Services Pvt           LT Market Linked     PP-MLD ICRA 440    -
Ltd                                    Debenture            BBB+
                                                            (Stable) 
(Upgraded from PP-MLD ICRA BBB (Stable))
Sakar Healthcare Ltd                   CC                   ICRA BBB    80     Reaffirmed
                                                            (Stable)
Sakar Healthcare Ltd                   TL                   ICRA BBB    735    -
                                                            (Stable)
(Reaffirmed /assigned)
Sakar Healthcare Ltd                   Unallocated Limits   ICRA BBB    5      Reaffirmed
                                                            (Stable)/A3+
Sukhsagar Complexes Pvt Ltd            LT FB – TL           ICRA A-     325.1  Reaffirmed
                                                            (Negative)
Sukhsagar Complexes Pvt Ltd            LT/ST Unallocated    ICRA A-     61.9   -
                                       limits               (Negative)
                                                            / ICRA A2+
(Reaffirmed /assigned)
Superhouse Ltd                         Fund based-TL        ICRA BBB+   163.3  Reaffirmed
                                                            (Stable)
Superhouse Ltd                         Fund based- Working  ICRA BBB+   1760   Reaffirmed
                                       Capital Fac          (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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