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ICRA ratings for Indian debt instruments-Oct 14

    Oct 14 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of October 13, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Jayalaxmi Enterprises                  ST - Fund Based      ICRA A4     62.5   -
(Rating Continues to remain under issuer not cooperating category)
Jayalaxmi Enterprises                  ST - Interchangeable ICRA A4     -      -
(Rating Continues to remain under issuer not cooperating category)
Klassic Wheels Ltd                     Non-fund Based – LOC ICRA A2     30     Reaffirmed
Newgen Software Technologies           ST - Fund based      ICRA A2+    700    Withdrawn
Ltd
Newgen Software Technologies           ST - Non-fund based  ICRA A2+    250    Withdrawn
Ltd
Shyam Industries                       Non-fund Based LOC#  ICRA A3     -      -
(Upgraded from ICRA A4+. 
#Sublimit of PCH)
Shyam Industries                       Non-fund Based       ICRA A3     20     -
                                       Forward Cover Exposure
(Upgraded from ICRA A4+)

 

LONG TERM RATINGS:
-------------------
Asian Fab Tec Ltd                    FB Working Capital Fac ICRA        950    -
                                                            BB+(Stable)
(Downgraded from ICRA BBB(Negative))
Asian Fab Tec Ltd                      Non-fund Based       ICRA        2750   -
                                       Working Capital Fac  BB+(Stable)
                                                            / ICRA A4+
(Downgraded from ICRA BBB(Negative)/ICRA A3+)
B.K.Threshers Pvt. Ltd                 LT - Fund Based/ CC  ICRA D      1200   -
(Rating Continues to remain under issuer not cooperating category)
B.K.Threshers Pvt. Ltd                 LT - Fund Based TL   ICRA D      1100   -
(Rating Continues to remain under issuer not cooperating category)
B.K.Threshers Pvt. Ltd                 LT - Non Fund Based  ICRA D      40     -
(Rating Continues to remain under issuer not cooperating category)
B.K.Threshers Pvt. Ltd                 ST - Non Fund Based  ICRA D      10     -
(Rating Continues to remain under issuer not cooperating category)
B.K.Threshers Pvt. Ltd                 LT / ST –Unallocated ICRA D/ICRA 50     -
                                                            D
(Rating Continues to remain under issuer not cooperating category)
Food Corporation Of India              NCD                  ICRA        50000  Outstanding
                                                            AAA(CE)
                                                            (Stable)
Food Corporation Of India              NCD                  ICRA        80000  Assigned
                                                            AAA(CE)
                                                            (Stable)
Gni Infrastructure Pvt Ltd             LT CC                ICRA        170    -
                                                            B+(Stable)
(Rating downgraded from ICRA BB(Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Guru Kirana Motors                     LT - Fund Based/ CC  ICRA B      20     -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Guru Kirana Motors                     LT - Fund Based TL   ICRA B      40     -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Jayalaxmi Enterprises                  LT - Fund Based/ CC  ICRA B+     12.5   -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Klassic Wheels Ltd                     FB - CC              ICRA BBB+   100    Reaffirmed
                                                            (Stable)
Klassic Wheels Ltd                     FB – TL              ICRA BBB+   10     Reaffirmed
                                                            (Stable)
Klassic Wheels Ltd                     Unallocated limit    ICRA BBB+   119.3  Reaffirmed
                                                            (Stable) /
                                                            ICRA A2
Rise On Group                          Fund based – TL      ICRA C      276    -
(Rating Continues to remain under issuer not cooperating category)
Shree Rajendra Agro Industries         LT - Fund Based/ CC  ICRA B+     50     -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Shree Rajendra Agro Industries         LT - Fund Based TL   ICRA B+     4.9    -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Shree Rajendra Agro Industries         LT - Unallocated     ICRA B+     45.1   -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Shriram City Union Finance Ltd        Mobil Trust Series 11 Provisional 3053.4 Assigned
                                       -PTC Series A        ICRA AAA(SO)
Shyam Industries                       FB Working Capital   ICRA BBB-   270    -
                                       Limits^              (Stable) /
                                                            ICRA A3
(Upgraded from ICRA BB+(Stable)/ICRA A4+. 
 ^ PCH/PCFC/FBP/FBD/REBA)
Shyam Industries                       FB Standby Limit     ICRA BBB-   54     -
                                                            (Stable) /
                                                            ICRA A3
(Upgraded from ICRA BB+(Stable)/ICRA A4+)
Sri Murari Pavan Agrotech              LT - Fund Based/ CC  ICRA        90     -
                                                            B+(Stable)
(Rating Continues to remain under issuer not cooperating category)
Sri Sai Leela Electrical               LT - Fund Based/ CC  ICRA        35     -
Projects                                                    B+(Stable)
(Rating Continues to remain under issuer not cooperating category)
Sri Sai Leela Electrical               LT – Non Fund Based  ICRA        85     -
Projects                                                    B+(Stable)
(Rating Continues to remain under issuer not cooperating category)
Vanshika Construction                  CC                   ICRA B+     50     -
                                                            (Stable)
(Rating downgraded from ICRA BB(Stable) and moved ‘Issuer Not Cooperating’ category)
Vanshika Construction                  BG                   ICRA B+     50     -
                                                            (Stable)
(Rating downgraded from ICRA BB(Stable) and moved ‘Issuer Not Cooperating’ category)
Vardhaman Pressure Die Casting         LT - Fund Based/ CC  ICRA B+     15     -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Vardhaman Pressure Die Casting         LT - Fund Based TL   ICRA B+     45     -
                                                            (Stable)
(Rating Continues to remain under issuer not cooperating category)
Varun Enterprises                      LT - Fund Based/ CC  ICRA B+     155    -
                                                            (Stable)
(Rating downgraded from ICRA BB- (Stable) and Moved to the ‘Issuer Not Cooperating’ category)
--------------------------------------------------------------------------------------------
$: 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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