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ICRA ratings for Indian debt instruments-Nov 6

    Nov 6 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of November 5, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Canara Robeco Asset Management Co. Ltd  Canara Robeco Savings ICRA A1+mfs         Reaffirmed
                                        Fund
Canara Robeco Asset Management Co. Ltd  Canara Robeco Liquid  ICRA A1+mfs         Reaffirmed
                                        Fund
Davat Beverages Pvt. Ltd.               Non-fund Based – BG   ICRA A3      5
Upgraded from ICRA A4+
Mahadev Ship Breakers Pvt Ltd           Non-fund Based LOC    ICRA A4+     600    Reaffirmed
Mahadev Ship Breakers Pvt Ltd           Non-fund Based Credit ICRA A4+     12     Reaffirmed
                                        Exposure Limit
Origo Commodities India Pvt. Ltd.-      PTC Series A          ICRA A1(SO)  47.3
Vivriti-Origo Agro 08 2020
provisional rating confirmed as final
R Balarami Reddy And Company            ST – Non-fund based   ICRA A4      70
Reaffirmed and removed from ‘Issuer non-cooperation’ category
Rucha Engineers Pvt Ltd                 ST: Non-FB            ICRA A2+     50     Reaffirmed
Rucha Engineers Pvt Ltd                 ST: Unallocated limitsICRA A2+     6      Reaffirmed
Shiv Corporation                        Non-fund Based LOC    ICRA A4+     900    Reaffirmed
Shiv Corporation                        Non-fund Based Credit ICRA A4+     29     Reaffirmed
                                        Exposure Limit
Shiv Ship Breaking Company              Non-fund Based LOC    ICRA A4+     490    Reaffirmed
Shiv Ship Breaking Company              Non-fund Based Credit ICRA A4+     9.8    Reaffirmed
                                        Exposure Limit
Teems India Towerlines Pvt Ltd          ST – Non-fund based   ICRA A3      275.5  Reaffirmed
Teems India Towerlines Pvt Ltd          ST – FB               ICRA A3      12.5   Reaffirmed
Vacmet India Ltd                        ST-Non-Fund Based#    ICRA A2+     2500   Reaffirmed
#: Long term fund-based limits and short-term non-fund-based limits are fully interchangeable.
When the limits are drawn under the fund-based limits the rating of ICA A-(Positive) would apply
and when the limits are drawn under the short term non fund-based limits the rating of ICRA A2+
will apply.

LONG TERM RATINGS:
-------------------
Canara Robeco Asset Management Co. Ltd  Canara Robeco         ICRA AA+mfs         Reaffirmed
                                        Corporate Bond Fund
Canara Robeco Asset Management Co. Ltd  Canara Robeco Short   ICRA AAAmfs         Reaffirmed
                                        Duration Fund
Canara Robeco Asset Management Co. Ltd  Canara Robeco Ultra   ICRA AAAmfs         Reaffirmed
                                        ST Fund
Columbia Asia Hospitals Pvt Ltd         Fund Based- TL        ICRA BBB+    5080
Upgraded from ICRA BBB; outlook revised to Stable from Positive
Columbia Asia Hospitals Pvt Ltd         FB- Overdraft         ICRA BBB+    350
Upgraded from ICRA BBB; outlook revised to Stable from Positive
Convergence Chemicals Pvt Ltd           FB                    ICRA A+      660    Outstanding
                                                              (Stable)
Convergence Chemicals Pvt Ltd           Non-fund based        ICRA A+      150    Outstanding
                                                              (Stable)
Davat Beverages Pvt. Ltd.               FB – CC               ICRA         32.5
                                                              BBB-(Stable)
Upgraded from ICRA BB+ (Stable)
Davat Beverages Pvt. Ltd.               FB – TL               ICRA         152.7
                                                              BBB-(Stable)
Upgraded from ICRA BB+ (Stable)
G R Gupta & Bros.                       LT - Fund based - CC  ICRA BB      150    Reaffirmed
                                                              (Stable)
G R Gupta & Bros.                       LT - Fund based -     ICRA BB      200    Reaffirmed
                                        Electronic Dealer     (Stable)
                                        Finance Scheme
Girnar Food & Beverages Pvt Ltd         FB Limits             ICRA BBB+    495    Reaffirmed
                                                              (Stable) /
                                                              ICRA A2
Karnataka State Road Transport          FB TL                 ICRA BB+     5000
Corporation                                                   (Stable)
Downgraded from ICRA BBB- (Negative)
Kl Hi-Tech Secure Print Ltd             LT – FB/CC            ICRA BBB     186    Reaffirmed
                                                              (Stable)
Kl Hi-Tech Secure Print Ltd             LT/ST – Non-fund      ICRA BBB     230    Reaffirmed
                                        based/BG              (Stable)/
                                                              ICRA A3+
Kl Hi-Tech Secure Print Ltd             LT/ST – Unallocated   ICRA BBB     4      Reaffirmed
                                                              (Stable)/
                                                              ICRA A3+
Lords Chloro Alkali Ltd                 Fund Based – Working  ICRA BBB     200    Reaffirmed
                                        Capital               (Stable)
Lords Chloro Alkali Ltd                 Fund Based – TL       ICRA BBB     130    Reaffirmed
                                                              (Stable)
Lords Chloro Alkali Ltd                 Issuer Rating         ICRA BBB
                                                              (Stable)
Reaffirmed and withdrawn
Mahadev Ship Breakers Pvt Ltd           LT interchangeable –  ICRA BB             Reaffirmed
                                        CC^                   (Stable)
^Sublimit of Letter of Credit
Mohanlal Jewellers Pvt Ltd              LT – FB Fac - CC      ICRA B+      1000
                                                              (Stable)
Rating downgraded from ICRA BB+ (Stable) and moved to the ‘Issuer Not Cooperating’ category
Origo Finance Pvt Ltd- Vivriti Anubis   PTC Series A1         ICRA A-(SO)  101.1
07 2020
provisional rating confirmed as final
R Balarami Reddy And Company            LT – Fund based/CC    ICRA         60
                                                              B+(Stable)
Reaffirmed and removed from ‘Issue non-cooperating’ category
R Balarami Reddy And Company            LT/ST – Unallocated   ICRA         40
                                                              B+(Stable)/
                                                              A4
Reaffirmed and removed from ‘Issuer non-cooperating’ category
Rucha Engineers Pvt Ltd                 LT: FB - TL           ICRA         674    Reaffirmed
                                                              A-(Stable)
Rucha Engineers Pvt Ltd                 LT: FB - CC           ICRA         290    Reaffirmed
                                                              A-(Stable)
Shiv Corporation                        LT interchangeable –  ICRA BB             Reaffirmed
                                        CC^                   (Stable)
^Sublimit of Letter of Credit
Shiv Ship Breaking Company              LT interchangeable –  ICRA BB             Reaffirmed
                                        CC^                   (Stable)
^Sublimit of Letter of Credit
Teems India Towerlines Pvt Ltd          LT – FB               ICRA BBB-    27     Reaffirmed
                                                              (Stable)
Vacmet India Ltd                        TL                    ICRA A-      1862.5 Reaffirmed
                                                              (Positive)
Vacmet India Ltd                        LT-Fund Based         ICRA A-      2500   Reaffirmed
                                                              (Positive)
Vacmet India Ltd                        Issuer rating         ICRA A-             Reaffirmed
                                                              (Positive)
Rating put on notice of withdrawal for 30 days
West Bengal State Electricity           10.29% Market Bonds   ICRA BB+     2500   Outstanding
Transmission Co. Ltd                                          (Negative)
Issuer Not Cooperating
West Bengal State Electricity           Issuer Rating         ICRA BB+            Withdrawn
Transmission Co. Ltd                                          (Negative)
Issuer Not Cooperating
--------------------------------------------------------------------------------------------
$: 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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