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ICRA ratings for Indian debt instruments-Oct 29

    Oct 29 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of October 28, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Arene Life Sciences Ltd                 ST - Non Fund Based   ICRA A4      50
Downgraded from ICRA A4+ and continues to remain in the ‘Issuer Not Cooperating’ category
Dnh Projects Ltd                        ST non FBL            ICRA A4      60
Issuer Not Cooperating
Ganesan Builders Ltd                    ST – Non-FB Fac       ICRA A4+     100    Reaffirmed
Globe Fincap Ltd                        CP                    ICRA A1+     500    Assigned
Gm Sugar & Energy Ltd                   ST – Fund Based       ICRA A4      250
Review Process is underway
Iifl Wealth Management Ltd              CP programme          ICRA A1+     2000   Outstanding
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     30000  Outstanding
                                        financing)
Indo Count Industries Ltd               ST Non-fund Based     ICRA A1      2300
Review process is underway
Mahindra Steel Service Centre Ltd       ST - Non Fund Based   ICRA A1+     1600
Review process is underway
Mahindra Steel Service Centre Ltd       ST – Fund Based       ICRA A1+     170
Review process is underway
Mahindra Steel Service Centre Ltd       CP                    ICRA A1+     250
Review process is underway
Mangalore Refinery And Petrochemicals   Non-FBL               ICRA A1+     66000
Ltd
Mangalore Refinery And Petrochemicals   CP                    ICRA A1+     30000
Ltd
National Payments Corporation Of India  Bk Lines programme    ICRA A1+     98000  Assigned
Ongc Mangalore Petrochemicals Ltd       Fund Based – Working  ICRA A1+     17500
                                        Capital Fac
Ongc Mangalore Petrochemicals Ltd       Non-Fund Based –      ICRA A1+     3000
                                        Working Capital Fac
Ongc Mangalore Petrochemicals Ltd       CP                    ICRA A1+     13000
Pm Cars Pvt. Ltd.                       ST - Non Fund Based   ICRA A4      2
Rating continues to remain under ‘Issuer Not Cooperating’ category
Smpp Pvt Ltd                            Non-fund Based        ICRA A2+     2126.4
Outstanding/ Assigned
Unique Forgings (India) Pvt Ltd         BG                    ICRA A3+     7.5
Issuer Not Cooperating
Visage Holdings & Finance Pvt. Ltd.     CP Programme          ICRA A3      600    Assigned

LONG TERM RATINGS:
-------------------
Aov Exports Pvt Ltd                     Bk Loan Ratings       ICRA         1300
                                                              BBB(Stable)/
                                                              ICRA A3+
Review process underway
Arene Life Sciences Ltd                 LT - Fund Based/ CC   ICRA B+      90
                                                              (Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Arene Life Sciences Ltd                 LT / ST - Unallocated ICRA B+      30
                                                              (Stable)/
                                                              ICRA A4
Downgraded from ICRA BB+ (Stable)/ICRA A4+ and continues to remain in the ‘Issuer Not
Cooperating’ category
Azam Rubber Products Pvt Ltd            CC                    ICRA D       285    Assigned
Azam Rubber Products Pvt Ltd            TL                    ICRA D       375.1  Assigned
Azam Rubber Products Pvt Ltd            Non-fund Based        ICRA D       58     Assigned
Azam Rubber Products Pvt Ltd            Issuer Rating         ICRA D              Reaffirmed
Azam Rubber Products Pvt Ltd            Unallocated           ICRA D/ICRA D81.9   Assigned
Baba Construction Pvt Ltd               Fund Based/ CC        ICRA B+      120
                                                              (Stable)
Issuer Not Cooperating; Withdrawn
Baba Construction Pvt Ltd               Non-fund Based / BG   ICRA B+      1130
                                                              (Stable)
Issuer Not Cooperating; Withdrawn
Bharath Agro Agencies                   LT - Fund Based/ CC   ICRA         50     Withdrawn
                                                              B+(Stable)
Issuer Not Cooperating
Bharath Agro Agencies                   LT - Non Fund Based   ICRA         17     Withdrawn
                                                              B+(Stable)
Issuer Not Cooperating
Bharath Agro Agencies                   LT / ST - Unallocated ICRA         3      Withdrawn
                                                              B+(Stable)/
                                                              ICRA A4
Issuer Not Cooperating
Dnh Projects Ltd                        LT FB limit           ICRA C       120
Issuer Not Cooperating
Dnh Projects Ltd                        Unallocated Limit     ICRA C/ ICRA 100
                                                              A4
Issuer Not Cooperating
Enerfra Projects (India) Pvt. Ltd       LT – Fund Based TL    ICRA BB+     140
                                                              (Positive)
Review Process is underway
Enerfra Projects (India) Pvt. Ltd       LT – Unallocated      ICRA BB+     60
                                                              (Positive)
Review Process is underway
Five-Star Business Finance Ltd-         PTC Series A          Provisional  859.1  Assigned
Dhruva-Iv 10 2020                                             ICRA AA-(SO)
Ganesan Builders Ltd                    LT – FB Fac           ICRA         200    Reaffirmed
                                                              BB(Stable)
Ganesan Builders Ltd                    LT/ST - Unallocated   ICRA         40     Reaffirmed
                                                              BB(Stable)/
                                                              ICRA A4+
Gimpex Pvt Ltd                          FB Limits             ICRA         2550
                                                              BB+(Stable)
Issuer Not Cooperating
Gimpex Pvt Ltd                          Non-FB Limits         ICRA         1900
                                                              BB+(Stable)
Issuer Not Cooperating
Gimpex Pvt Ltd                          LT (Sub- Limit) Fac   ICRA
                                                              BB+(Stable)
Issuer Not Cooperating
Global Infra Fzco                       Rating Without        ICRA BB
                                        Explicit Credit
                                        Enhancement
Global Infra Fzco                       LOC                   ICRA BBB-    73
                                                              (CE)
                                                              @‘Negative’
outlook removed and rating placed on watch with Negative implications
Globe Fincap Ltd                        LT/ST Bk Lines (Fund  ICRA A+      4940   Outstanding
                                        Based/Non-fund Based) (Stable)/
                                                              ICRA A1+
Gm Sugar & Energy Ltd                   LT – Fund Based – (CC)ICRA BB-     350
                                                              (Stable)
Review Process is underway
Gm Sugar & Energy Ltd                   LT – Fund Based – TL  ICRA BB-     550
                                        (Proposed)            (Stable)
Review Process is underway
Gm Sugar & Energy Ltd                   LT/ST - Unallocated   ICRA         100
                                                              BB-(Stable)/
                                                              A4
Review Process is underway
Ihhr Hospitality Pvt Ltd                Fund Based – TL       ICRA BBB     2487   Outstanding
                                                              (Negative)
Ihhr Hospitality Pvt Ltd                Fund Based – Working  ICRA BBB     100    Outstanding
                                        Capital Fac           (Negative)
Iifl Wealth Management Ltd              NCD programme         ICRA         1000   Outstanding
                                                              AA(Stable);
Iifl Wealth Management Ltd              LT principal          PP-MLD ICRA  3000   Assigned
                                        protected - market    AA (Stable)
                                        linked debenture programme
Indo Count Industries Ltd               LT - Fund Based/CC    ICRA A+      5250
                                                              (Stable)
Review process is underway
Indo Count Industries Ltd               LT - Fund Based/TL    ICRA A+      714.4
                                                              (Stable)
Review process is underway
Mahindra Steel Service Centre Ltd       LT - Fund Based/CC    ICRA AA-     270
                                                              (Stable)
Review process is underway
Mahindra Steel Service Centre Ltd       LT - Fund Based TL    ICRA AA-     500
                                                              (Stable)
Review process is underway
Mangalore Refinery And Petrochemicals   NCDs                  ICRA AAA     30000
Ltd                                                           (Stable)
Mangalore Refinery And Petrochemicals   FBL                   ICRA AAA     60000
Ltd                                                           (Stable)
Mangalore Refinery And Petrochemicals   TL                    ICRA AAA     13714
Ltd                                                           (Stable)
Mangalore Refinery And Petrochemicals   Issuer Rating         ICRA AAA
Ltd                                                           (Stable)
Nxtgen Datacenter And Cloud             LT fund based – CC    ICRA D       150
Technologies Pvt Ltd
Review Process underway
Nxtgen Datacenter And Cloud             LT fund based – TL    ICRA D       1000
Technologies Pvt Ltd
Review Process underway
Pm Cars Pvt. Ltd.                       LT - Fund Based/ CC   ICRA         125
                                                              B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Pm Cars Pvt. Ltd.                       LT - Fund Based TL    ICRA         20.3
                                                              B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Pm Cars Pvt. Ltd.                       LT / ST - Unallocated ICRA         12.7
                                                              B+(Stable)/
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Precimeasure Controls Pvt Ltd           LT - Fund Based/ CC   ICRA B+      20
                                                              (Stable)
Rating downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Precimeasure Controls Pvt Ltd           LT - Fund Based TL    ICRA B+      95
                                                              (Stable)
Rating downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Precimeasure Controls Pvt Ltd           Non Fund Based        ICRA B+      1.9
                                                              (Stable)
Rating downgraded from ICRA A4+ and continues to remain in the ‘Issuer Not Cooperating’ category
Prestige Estates Projects Ltd           LT – TL               ICRA A+      41490
                                                              (Stable)
Prestige Estates Projects Ltd           LT – Non fund based   ICRA A+      3510
                                                              (Stable)
Prestige Estates Projects Ltd           NCDs                  ICRA A+      6500
                                                              (Stable)
Shapoorji Pallonji Solar Holdings Pvt   Rating Without        ICRA BB
Ltd                                     Explicit Credit
                                        Enhancement
Shapoorji Pallonji Solar Holdings Pvt   TL                    ICRA BBB-    2500
Ltd                                                           (CE)
                                                              (Negative)
Downgraded from ICRA BBB(CE)(Negative) and Withdrawn
Shapoorji Pallonji Solar Pv Pvt Ltd     TL                    ICRA BBB-&** 1900   Withdrawn
**on watch with developing implications
Shree Chhatrapati Shahu Sahakari Sakhar Fund based-TL         ICRA BBB-    500    Reaffirmed
Karkhana Ltd                                                  (negative)
Shree Chhatrapati Shahu Sahakari Sakhar Fund based- Working   ICRA BBB-    500    Reaffirmed
Karkhana Ltd                            Capital Fac           (negative)
Sidhi Vinayak Foundation                LT FB TL              ICRA B       100
                                                              (Stable)
Issuer not cooperating
Smpp Pvt Ltd                            FB - CC               ICRA A-      50     Outstanding
                                                              (Stable)
Smpp Pvt Ltd                            Unallocated           ICRA A-      323.6
                                                              (Stable)/ A2+
Outstanding/ Assigned
Sri Venkateswara Aerospace (Pvt) Ltd    LT - Fund Based/ CC   ICRA B+      6
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace (Pvt) Ltd    LT - Fund Based TL    ICRA B+      20.6
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace (Pvt) Ltd    LT / ST - Non Fund    ICRA B+      200
                                        Based                 (Stable)/
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace (Pvt) Ltd    LT / ST - Unallocated ICRA B+      13.4
                                                              (Stable)/
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Suvarna Lakshmi Jewellers               LT - Fund Based/ CC   ICRA B+      180
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Suvarna Lakshmi Jewellers               LT - Unallocated      ICRA B+      92
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Union Enterprises                       Fund Based- CC        ICRA D       64
Rating continues to remain under ‘Issuer Not Cooperating’ category
Union Enterprises                       Fund based – TL       ICRA D       95.7
Rating continues to remain under ‘Issuer Not Cooperating’ category
Union Enterprises                       Unallocated           ICRA D/ ICRA 69.2
                                                              D
Rating continues to remain under ‘Issuer Not Cooperating’ category
Unique Forgings (India) Pvt Ltd         CC                    ICRA BBB     82.5
                                                              (Stable)
Issuer Not Cooperating
Universal Mine Developers And Service   Rating Without        ICRA BBB-
Providers Pvt. Ltd                      Explicit Credit
                                        Enhancement
Universal Mine Developers And Service   TL                    ICRA BBB     1560   Withdrawn
Providers Pvt. Ltd                                            (CE)&**
**on watch with developing implications
Universal Mine Developers And Service   CC                    ICRA BBB     60     Withdrawn
Providers Pvt. Ltd                                            (CE)&**
**on watch with developing implications
Visage Holdings & Finance Pvt. Ltd.     Bk Fac                ICRA BBB-    500    Outstanding
                                                              (Negative)
Visage Holdings & Finance Pvt. Ltd.     NCD Programme         ICRA BBB-    773.5  Outstanding
                                                              (Negative)

--------------------------------------------------------------------------------------------
$: 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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