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ICRA ratings for Indian debt instruments-Sep 23

   Sep 23 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of September 22, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Naik Environmental Engineers           ST Non FBL           ICRA A4     15     -
Pvt Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Safe-Tronics Automation Pvt Ltd        ST – Non Fund Based  ICRA A4     100    -
(Reason for delay in carrying out periodic review: - Surveillance process is underway)
Sreevatsa Tubes Pvt Ltd                Non-fund based       ICRA A4     135    Assigned
                                       facility
Sreevatsa Tubes Pvt Ltd                FB facility          ICRA A4     27     Assigned
Kamarli Steels Pvt Ltd                 ST – Non Fund Based  ICRA D      200    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kamarli Steels Pvt Ltd                 ST - Interchangeable ICRA D      -      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sri Sankari Yarns Pvt Ltd              ST non-fund based    ICRA A2     150    -
                                       working capital Fac
(Reason for delay in carrying out periodic review: - Review process is underway)
Unibic Foods India Pvt Ltd             ST – Non-fund Based  ICRA A3     5      -
(Upgraded from ICRA A4+)
Zetwerk Manufacturing                  ST – Non-fund based  ICRA A3     350    Assigned
Businesses Pvt Ltd
Zetwerk Manufacturing                  ST – Non-fund based  ICRA A3     -      Assigned
Businesses Pvt Ltd                     (sub-limit of LT FB)
Zetwerk Manufacturing                  ST – Fund based      ICRA A3     250    Assigned
Businesses Pvt Ltd
 



LONG TERM RATINGS:
-------------------
A.H. Memorial Educational Trust        LT – Overdraft       ICRA BBB+   160    -
                                       Facility             (Negative)
(Reason for delay in carrying out periodic review: Review process is underway)
A.H. Memorial Educational Trust        LT– TL               ICRA BBB+   3192.8 -
                                                            (Negative)
(Reason for delay in carrying out periodic review: Review process is underway)
A.H. Memorial Educational Trust        LT– Unallocated      ICRA BBB+   4.2    -
                                                            (Negative)
(Reason for delay in carrying out periodic review: Review process is underway)
Atharva Developers                     LT, fund based: TL   ICRA D      125    Withdrawn
(ISSUER NOT COOPERATING)
Bazaar Konnections                     LT -FB Packing Credit ICRA B      93.5   -
                                                            (Stable)
(Upgraded from ICRA B- (Stable))
Bazaar Konnections                     LT – FB TL           ICRA B      32.9   -
                                                            (Stable)
(Upgraded from ICRA B- (Stable))
Bholasons Jewellers (Gold Souk)        LT: FBL              ICRA BBB-   460    Reaffirmed
                                                            (Stable)
Bholasons Jewellers (Gold Souk)        LT: Unallocated      ICRA BBB-   340    Reaffirmed
                                                            (Stable)
Bholasons Jewellers (Gold Souk)        Issuer Rating        ICRA BBB-   -      Reaffirmed
                                                            (Stable)
(put on notice of withdrawal for one month)
Ctrls (India) Pvt Ltd                  Fund Based – TL      ICRA        1700   Reaffirmed
                                                            BBB+(Stable)
Ctrls (India) Pvt Ltd                  LT – Non fund Based  ICRA        10     Assigned
                                                            BBB+(Stable)
Hydrobaths Ramco Marketing Pvt         LT Fund based        ICRA D      104.3  -
Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Hydrobaths Ramco Marketing Pvt         LT Non Fund based    ICRA D      25     -
Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Hydrobaths Ramco Marketing Pvt         Unallocated          ICRA D      10     -
Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Javin Construction Pvt Ltd             LT Fund -based /TL   ICRA B+     300    -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Kamarli Steels Pvt Ltd                 LT – Interchangeable ICRA D      -      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kwality Township Pvt. Ltd              LT Fund based/TL     ICRA D      50     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Mytrah Vayu (Tungabhadra) Pvt          FB - TL              ICRA D      9528.3 -
Ltd
(Downgraded to ICRA D from ICRA B- (Negative))
Mytrah Vayu (Tungabhadra) Pvt          FB - Overdraft       ICRA D      430    -
Ltd
(Downgraded to ICRA D from ICRA B- (Negative))
Mytrah Vayu (Tungabhadra) Pvt          Unallocated          ICRA D      381.7  -
Ltd
(Downgraded to ICRA D from ICRA B- (Negative)
Naik Environmental Engineers           LT, FBL              ICRA        45     -
Pvt Ltd                                                     B(Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Navjivan Cotton Industries             FB- CC               ICRA BB-    117.5  -
                                                            (Stable)
(Upgraded from ICRA B+ (Stable))
Navjivan Cotton Industries             Unallocated Limits   ICRA BB-    26.3   -
                                                            (Stable)
(Upgraded from ICRA B+ (Stable))
Safe-Tronics Automation Pvt Ltd        LT, Fund based – CC  ICRA        40     -
                                                            B+(Stable)
(Reason for delay in carrying out periodic review: - Surveillance process is underway)
Safe-Tronics Automation Pvt Ltd        LT / ST – Unallocated ICRA       60     -
                                                            B+(Stable)
                                                            / ICRA A4
(Reason for delay in carrying out periodic review: - Surveillance process is underway)
Shiv Shakti Enterprise                 LT – Fund Based TL   ICRA D      100    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sreevatsa Tubes Pvt Ltd                Overdraft facility   ICRA BB     100    Assigned
                                                            (Stable)
Sreevatsa Tubes Pvt Ltd                Unallocated facility ICRA BB     8      Assigned
                                                            (Stable)/
                                                            ICRA A4
Sri Sankari Yarns Pvt Ltd              FB -TL               ICRA        300    -
                                                            BBB+(Stable)
(Reason for delay in carrying out periodic review: - Review process is underway)
Sri Sankari Yarns Pvt Ltd              LT FB working capital ICRA       200    -
                                       Fac (sub-limits)     BBB+(Stable)
(Reason for delay in carrying out periodic review: - Review process is underway)
Sri Varun Aqua Enterprises             Fund based – CC      ICRA        59     Assigned
                                                            B+(Stable)
Sri Varun Aqua Enterprises             Unallocated limits   ICRA        11     Assigned
                                                            B+(Stable)
Unibic Foods India Pvt Ltd             LT - Fund Based/ CC  ICRA BBB-   490    -
                                                            (Stable)
(Upgraded from ICRA BB+ (Stable))
Unibic Foods India Pvt Ltd             LT – Fund Based/TL   ICRA BBB-   105    -
                                                            (Stable)
(Upgraded from ICRA BB+ (Stable))
Unibic Foods India Pvt Ltd             LT/ST – Unallocated  ICRA BBB-   0.3    Assigned
                                                            (Stable) /
                                                            ICRA A3
Urja Automobiles Pvt Ltd               CC                   ICRA B      10     -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Urja Automobiles Pvt Ltd               e-DFS                ICRA B      50^    -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category. 
 ^Dropline facility of Rs.1 crore is a sub-limit of E-dfs facility)
Urja Automobiles Pvt Ltd               Unallocated          ICRA B      5      -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Vellore Institute Of Technology        Fund Based – TL Fac  ICRA        1247.5 -
                                                            AA-(Stable)
(Reason for delay in carrying out periodic review: - Review process is underway)
Vellore Institute Of Technology        LT - Proposed Fac    ICRA        1952.5 -
                                                            AA-(Stable)
(Reason for delay in carrying out periodic review: - Review process is underway)
Vidya Herbs Pvt. Ltd.                  LT – Fund Based/TL   ICRA A-     645    Reaffirmed
(Outlook revised from Stable to Negative)
Vidya Herbs Pvt. Ltd.                  LT - Fund Based/ CC  ICRA A-     850    Reaffirmed
(Outlook revised from Stable to Negative)
Vidya Herbs Pvt. Ltd.                  LT/ST – Unallocated  ICRA A-     5      Reaffirmed
(Outlook revised from Stable to Negative)
Vit Trust                              LT: Unallocated      ICRA A (CE) 1824.8 -
                                                            (Stable)
(Reason for delay in carrying out periodic review: - Surveillance process is underway)
Vit Trust                              LT: Fund Based TL    ICRA A (CE) 1175.2 -
                                                            (Stable)
(Reason for delay in carrying out periodic review: - Surveillance process is underway)
Zetwerk Manufacturing                  LT – FB              ICRA BBB-   500    Assigned
Businesses Pvt Ltd                                          (Stable)
Zetwerk Manufacturing                  LT/ ST – Unallocated ICRA BBB-   400    Assigned
Businesses Pvt Ltd                                          (Stable) /
                                                            A3
--------------------------------------------------------------------------------------------
$: 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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