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RPT-ICRA ratings for Indian debt instruments-Oct 16

 (Repeating to add additional ratings)
    Oct 16 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of October 15, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhavani Industries                      ST – Interchangeable  ICRA A3+            Reaffirmed
East India Technologies Pvt Ltd         Non-FBL               ICRA A3+     50     Reaffirmed
Godrej & Boyce Manufacturing Co. Ltd    CP Programme          ICRA A1+     7000
Assigned/ outstanding
Indian Oil Corporation Ltd              CP                    ICRA A1+     400000 outstanding
Karnataka Bank Ltd                      Certificates of       ICRA A1+     30000  Reaffirmed
                                        deposit
Ksk Mahanadi Power Co. Ltd              ST - Non Fund Based   ICRA D       8570
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Nehani Tiles Pvt. Ltd.                  Non-FBL               ICRA A4      15     Withdrawn
Qi Network Enterprises Pvt Ltd          BG                    ICRA A4      80
Downgraded from ICRA A4+
Regen Powertech Pvt Ltd                 ST - Fund Based       ICRA D       500
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Regen Powertech Pvt Ltd                 ST - Non-Fund Based   ICRA D       15300
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sacheta Metals Ltd                      ST, FBL               ICRA A4      100    Issuer Not
                                                                                  Cooperating
Downgraded from ICRA A4+ and moved to ‘Issuer Not Cooperating’ category
Sacheta Metals Ltd                      ST, Non-FBL           ICRA A4      62     Issuer Not
                                                                                  Cooperating
Downgraded from ICRA A4+ and moved to ‘Issuer Not Cooperating’ category
Sacheta Metals Ltd                      ST, Interchangeable   ICRA A4             Issuer Not
                                                                                  Cooperating
Downgraded from ICRA A4+ and moved to ‘Issuer Not Cooperating’ category
Safe-Tronics Automation Pvt Ltd         ST – Non Fund Based   ICRA A4      80     Reaffirmed
Skipperseil Ltd                         ST - Fund based       ICRA A4      151.1  Withdrawn
Src Chemicals Pvt Ltd                   ST fund based         ICRA A3      150    Reaffirmed
Src Chemicals Pvt Ltd                   ST non-fund based     ICRA A3      600    Reaffirmed
Src Chemicals Pvt Ltd                   ST – Interchangeable* ICRA A3      590    Reaffirmed
* Interchangeable with short term non fund based limits

LONG TERM RATINGS:
-------------------
Bhavani Industries                      LT - Fund Based/ CC   ICRA BBB     60     Reaffirmed
outlook revised to Stable from Negative
Bhavani Industries                      LT – Fund Based/TL    ICRA BBB     60     Reaffirmed
outlook revised to Stable from Negative
Dharmanandan Diamonds Pvt Ltd           FB working capital    ICRA A-     14151.6 Reaffirmed
                                                              (Negative)/
                                                              ICRA A2+
Dharmanandan Diamonds Pvt Ltd           Unallocated limits    ICRA A-      2098.4 Reaffirmed
                                                              (Negative)/
                                                              ICRA A2+
East India Technologies Pvt Ltd         Fund based - CC       ICRA BBB     240    Reaffirmed
                                                              (Stable)
East India Technologies Pvt Ltd         Fund based - TL       ICRA BBB     110    Reaffirmed
                                                              (Stable)
Glazebrooke Trading Pvt Ltd             LT – NCDs (NCD) -     ICRA C+      1500   Assigned
                                        Proposed
Indian Oil Corporation Ltd              NCD Programme         ICRA         100000 outstanding
                                                              AAA(Stable)
Indian Oil Corporation Ltd              NCD Programme         ICRA         16250  Assigned
                                                              AAA(Stable)
Industrial Forging Industries Pvt Ltd   Bk Fac                ICRA B+      134.5
                                                              (Stable)/
                                                              ICRA A4
Issuer Not Cooperating
J.Y. International                      Fund Based – TL       ICRA D       12.8
Rating continues to remain under ‘Issuer Not Cooperating’ category
J.Y. International                      Fund Based – CC       ICRA D       110
Rating continues to remain under ‘Issuer Not Cooperating’ category
J.Y. International                      FB – Packing Credit   ICRA D/D     40
Rating continues to remain under ‘Issuer Not Cooperating’ category
Karnataka Bank Ltd                      Basel III Tier-II     ICRA A (hyb) 7200   Reaffirmed
                                        Bonds                 (Stable)
Karnataka Bank Ltd                      Lower Tier II Bonds   ICRA A       2500   Reaffirmed
                                                              (Stable)
Ksk Mahanadi Power Co. Ltd              LT - Fund Based/ CC   ICRA D       11200
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Ksk Mahanadi Power Co. Ltd              LT - Fund Based TL    ICRA D       129520
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Ksk Mahanadi Power Co. Ltd              LT / ST - Non Fund    ICRA D/ICRA  7730
                                        Based                 D
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Lasco Lifestlye Ltd                     Fund based - CC       ICRA D       300
Rating continues to remain under ‘Issuer Not Cooperating’ category
Navrathan Jewellers Pvt Ltd             LT – Fund Based/CC    ICRA BBB-    750    Reaffirmed
                                                              (Stable)
Navrathan Jewellers Pvt Ltd             LT – Unallocated      ICRA BBB-    100    Reaffirmed
                                                              (Stable)
Nehani Tiles Pvt. Ltd.                  FB limits             ICRA B+      115    Withdrawn
                                                              (Stable)
Palamur Biosciences Pvt Ltd             LT- FB/ CC            ICRA BB+     20     Reaffirmed
outlook revised to Positive from Stable
Palamur Biosciences Pvt Ltd             LT - Fund Based TL    ICRA BB+     74.2   Reaffirmed
outlook revised to Positive from Stable
Palamur Biosciences Pvt Ltd             LT – Unallocated      ICRA BB+     5.8    Reaffirmed
outlook revised to Positive from Stable
Qi Network Enterprises Pvt Ltd          Fund Based- CC        ICRA B       35
                                                              (Stable)
Downgraded from ICRA BB (Stable)
Qi Network Enterprises Pvt Ltd          Unallocated           ICRA B       80
                                                              (Stable)/A4
Downgraded from ICRA BB (Stable)/A4+
Regen Powertech Pvt Ltd                 LT - Fund Based/ CC   ICRA D       3500
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Regen Powertech Pvt Ltd                 LT - Fund Based TL    ICRA D       250
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Regen Powertech Pvt Ltd                 External Commercial   ICRA D       100
                                        Borrowings (US$) (LT)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sacheta Metals Ltd                      LT, FBL               ICRA B+      10
                                                              (Stable)
Downgraded from ICRA BB (Stable), and moved to ‘Issuer Not Cooperating’ category
Safe-Tronics Automation Pvt Ltd         LT – Fund Based / CC  ICRA BB-     40
                                                              (Stable)
Upgraded from ICRA B+(Stable)
Sheel Diamond Exports Ltd               LT FB                 ICRA BB      850    Reaffirmed
                                                              (Stable)
Sheel Diamond Exports Ltd               LT Unallocated        ICRA BB      300    Reaffirmed
                                                              (Stable)
Sheel Gems                              LT FB                 ICRA BB      870    Reaffirmed
                                                              (Stable)
Skipperseil Ltd                         LT - FB - CC          ICRA BB-     226.2  Withdrawn
                                                              (Stable)
Skipperseil Ltd                         LT - FB - TL          ICRA BB-     163.4  Withdrawn
                                                              (Stable)
Skipperseil Ltd                         LT/ST –Non-fund Based ICRA BB-     960    Withdrawn
                                                              (Stable)/A4
Src Chemicals Pvt Ltd                   LT Fund Based – CC    ICRA BBB-    200    Reaffirmed
                                                              (stable)
St. George’S Education Society          LT – Fund Based/TL    ICRA BBB-    750    Reaffirmed
                                                              (Stable)
Suntana Textile Mills Pvt Ltd           Fund Based - FBP/     ICRA D /     129.5
                                        FBD/ FCBP/ FCBD Cum   ICRA D
                                        PC/ PCFC/ PSCL
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category
Suntana Textile Mills Pvt Ltd           Fund Based – PF/ PCFC^ICRA D /
                                                              ICRA D
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category; ^ Sublimits of Fund based limits, the total utilisation of
sub-limits should not exceed Rs. 12.95 crore
Suntana Textile Mills Pvt Ltd           Fund Based – PSDL^    ICRA D /
                                                              ICRA D
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category; ^ Sublimits of Fund based limits, the total utilisation of
sub-limits should not exceed Rs. 12.95 crore
Suntana Textile Mills Pvt Ltd           Fund Based – PSDL     ICRA D /
                                        (Against Government   ICRA D
                                        incentives) ^
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category; ^ Sublimits of Fund based limits, the total utilisation of
sub-limits should not exceed Rs. 12.95 crore
Suntana Textile Mills Pvt Ltd           Fund Based – Direct   ICRA D /
                                        Bills^                ICRA D
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category; ^ Sublimits of Fund based limits, the total utilisation of
sub-limits should not exceed Rs. 12.95 crore
Suntana Textile Mills Pvt Ltd           Fund Based – CC^      ICRA D /
                                                              ICRA D
Downgraded from ICRA B- (Stable)/A4 Issuer Not Cooperating, and rating continues to remain under
Issuer Not Cooperating’ category; ^ Sublimits of Fund based limits, the total utilisation of
sub-limits should not exceed Rs. 12.95 crore
Zaveri Exports Pvt Ltd                  LT - Fund Based/ CC   ICRA D       130
Rating downgraded from ICRA B-(Stable) Issuer Not Cooperating
Jindal Trading Company                  Bk Loan Ratings       ICRA         100    Issuer Not
                                                              B+(Stable)/         Cooperating
                                                              ICRA A4
--------------------------------------------------------------------------------------------
$: 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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