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ICRA ratings for Indian debt instruments-Sep 25

  Sep 25 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of September 24, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Bhadra International (India)           ST - Non-fund Based  ICRA D      780    -
Pvt Ltd
(Reason for delay in carrying out periodic review: Review process is underway)
Emudhra Ltd                            ST - Non-Fund Based  ICRA A3+    20     Reaffirmed
Etesian Urja Ltd                       ST FB                ICRA A1@    100    -
(Revised to ICRA A1@ from ICRA A1+ placed on rating watch with negative implications. 
@ on watch with negative implications) 
Goodluck India Ltd                     Non-fund Based -     ICRA A3+    900    Withdrawn
                                       Working Capital Fac
Hdfc Asset Management Co. Ltd          HDFC Liquid Fund     ICRA A1+mfs -      Outstanding
Hdfc Asset Management Co. Ltd        HDFC Money Market Fund ICRA A1+mfs -      Outstanding
Hdfc Asset Management Co. Ltd          HDFC Overnight Fund  ICRA A1+mfs -      Outstanding
Hdfc Asset Management Co. Ltd          HDFC Ultra ST Fund   ICRA A1+mfs -      Outstanding
Infina Finance Pvt Ltd                 CP Programme (IPO    ICRA A1+    100000 Assigned
                                       financing)
Infina Finance Pvt Ltd                 CP Programme         ICRA A1+    12000  Outstanding
Kaze Energy Ltd                        ST FB                ICRA A2+@   700    -
(@ on watch with negative implications)
Kellton Tech Solutions Ltd             ST Non-FB Fac        ICRA A3     200    Withdrawn
(ISSUER NOT COOPERATING)
Khandke Wind Energy Pvt Ltd            ST FB                ICRA A1@    140    -
(Revised to ICRA A1@ from ICRA A1+ placed on rating watch with negative implications. 
@ on watch with negative implications)
Lalpur Wind Energy Pvt Ltd             ST FB                ICRA A1@    1390   -
(Revised to ICRA A1@ from ICRA A1+ placed on rating watch with negative implications)
Ratedi Wind Power Pvt Ltd              ST FB                ICRA A1@    210    -
(Revised to ICRA A1@ from ICRA A1+ placed on rating watch with negative implications. 
@ on watch with negative implications)
Shekar Logistics Pvt Ltd              ST: Non fund Based-BG ICRA D      30     -
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
State Bank Of India                    CDs                  ICRA A1+    -      -
(Reaffirmed and withdrawn)
Tadas Wind Energy Pvt Ltd              ST FB                ICRA A2+@   1048   -
(Revised to ICRA A2+@ from ICRA A1+ placed on rating watch with negative implications. 
@ on watch with negative implications)
Thangamayil Jewellery Ltd              ST (Interchangeable) ICRA A2     -      Outstanding
Uti Asset Management Co. Ltd           UTI Money Market Fund ICRA A1+mfs -     Outstanding
Uti Asset Management Co. Ltd           UTI Liquid Cash Plan ICRA A1+mfs -      Outstanding
Uti Asset Management Co. Ltd           UTI Overnight Fund   ICRA A1+mfs -      Outstanding
Wind Urja India Pvt Ltd                ST FB                ICRA A1@    280    -
(Revised to ICRA A1@ from ICRA A1+ placed on rating watch with negative implications. 
@ on watch with negative implications)
 


MEDIUM TERM RATINGS:
-------------------
Thangamayil Jewellery Ltd              Medium-term – Fixed  MA-(Stable) 770    -
                                       Deposit
(outstanding on existing limits and assigned on enhanced limits)
 


LONG TERM RATINGS:
-------------------
Bhadra International (India)           FB - TL              ICRA D      3045.3 -
Pvt Ltd
(Reason for delay in carrying out periodic review: Review process is underway)
Bhadra International (India)           LT - Fund Based/ CC  ICRA D      300    -
Pvt Ltd
(Reason for delay in carrying out periodic review: Review process is underway)
Bhansali Diamonds                      Bk Loans             ICRA        165    -
                                                            BB-(Stable)
                                                            /ICRA A4
(Reason for delay in carrying out periodic review: Review process is underway)
Emudhra Ltd                            LT - Fund Based - CC ICRA BBB    80     Reaffirmed
                                                            (Stable)
Emudhra Ltd                            LT - Fund Based - TL ICRA BBB    250    Reaffirmed
                                                            (Stable)
Etesian Urja Ltd                       FB TL                ICRA A+@    4010   -
(Revised to ICRA A+@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications) 
Goodluck India Ltd                     FB - TL              ICRA BBB    863.6  Withdrawn
                                                            (Negative)
Goodluck India Ltd                     FB - Working Capital ICRA BBB    2466.2 Withdrawn
                                       Fac                  (Negative)
Hdfc Asset Management Co. Ltd          HDFC ST Debt Fund    ICRA AA+mfs -      Outstanding
Hdfc Asset Management Co. Ltd        HDFC Low Duration Fund ICRA AAAmfs -      Outstanding
Hdfc Asset Management Co. Ltd          HDFC Corporate Bond  ICRA AAAmfs -      Outstanding
                                       Fund
Hdfc Asset Management Co. Ltd          HDFC Floating Rate   ICRA        -      -
                                       Debt Fund            AAAmfs/
                                                            ICRA A1+mfs
(outstanding / withdrawn)
Hdfc Asset Management Co. Ltd          HDFC Bking and PSU   ICRA AA-mfs -      Outstanding
                                       Debt Fund
Il&Fs Solar Power Ltd                  Non Convertible      ICRA B+     3600   -
                                       Debentures           (Negative)
(Reason for delay in carrying out periodic review: - Issuer not co-operating)
Il&Fs Solar Power Ltd                  TL                   ICRA B+     450    -
                                                            (Negative)
(Reason for delay in carrying out periodic review: - Issuer not co-operating)
Kaze Energy Ltd                        FB TL                ICRA A-@    2873.4 -
(@ on watch with negative implications)
Kellton Tech Solutions Ltd             FB - Working Capital ICRA BBB-   200    Withdrawn
                                       Fac
(ISSUER NOT COOPERATING)
Kellton Tech Solutions Ltd             LT/ST Non-FB Fac     ICRA        282.1  Withdrawn
                                                            BBB-/ICRA A3
(ISSUER NOT COOPERATING)
Kellton Tech Solutions Ltd             Unallocated Limits   ICRA        817.9  Withdrawn
                                                            BBB-/ICRA A3
(ISSUER NOT COOPERATING)
Khandke Wind Energy Pvt Ltd            FB TL                ICRA A+@    6560.9 -
(Revised to ICRA A+@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
Lalpur Wind Energy Pvt Ltd             FB TL                ICRA A+@    9733.1 -
(Revised to ICRA A+@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
M2K Entertainment Pvt Ltd              LT Fund Based –      ICRA BB+    150    Reaffirmed
                                       Overdraft            (Stable)
Madura Micro Finance Ltd              Northern Arc 2018 MFI ICRA AA(SO) -      Withdrawn
                                       Paraak - PTC Series A
Paarth Infratech Pvt Ltd               LT Fund Based – TL   ICRA BB-    222.5  Reaffirmed
                                                            (Stable)
Rameshwar Textile Mills Ltd            LT – Fund Based / CC ICRA        107.5  Reaffirmed
                                                            B+(Stable)
Ratedi Wind Power Pvt Ltd              FB TL                ICRA A+@    5664.2 -
(Revised to ICRA A+@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
Sant Deepak Education And              FB / CC              ICRA D      17.5   -
Charitable Trust
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sant Deepak Education And              FB / TL              ICRA D      112.5  -
Charitable Trust
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sharadha Terry Products Pvt Ltd        TL                   ICRA        130.7  Reaffirmed
                                                            A+(Stable)
Sharadha Terry Products Pvt Ltd        LT unallocated       ICRA        1509.3 Reaffirmed
                                                            A+(Stable)
Sharadha Terry Products Pvt Ltd        LT/ST Fac            ICRA        640    Reaffirmed
                                                            A+(Stable)
                                                            / ICRA A1+
Shekar Logistics Pvt Ltd               LT: Fund based -TL   ICRA D      80     -
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Shekar Logistics Pvt Ltd               LT: Fund based -     ICRA D      140    -
                                       Working Capital Fac
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Sri Nukala Rama Koteswara Rao          FBL-CC               ICRA BB+    750    -
Textiles Pvt Ltd                                            (Stable)
(Reason for delay in carrying out periodic review: - Rating process is underway)
Sri Nukala Rama Koteswara Rao          LT-Fund Based TL     ICRA BB+    123    -
Textiles Pvt Ltd                                            (Stable)
(Reason for delay in carrying out periodic review: - Rating process is underway)
Sri Nukala Rama Koteswara Rao          LT/ST – Unallocated  ICRA BB+    47     -
Textiles Pvt Ltd                       Limit                (Stable)/A4+
(Reason for delay in carrying out periodic review: - Rating process is underway)
State Bank Of India                    Basel III Compliant  ICRA AA+    182357 Outstanding
                                       Tier I Bonds         (hyb)
                                                            (Stable)
State Bank Of India                    Basel III Compliant  ICRA AA+    -      -
                                       Tier I Bonds         (hyb)
                                                            (Stable)
(Reaffirmed and withdrawn)
State Bank Of India                    Basel III Compliant  ICRA AAA    222430 Outstanding
                                       Tier II Bonds        (hyb)
                                                            (Stable)
State Bank Of India                    Basel III Compliant  ICRA AAA    -      -
                                       Tier II Bonds        (hyb)
                                                            (Stable)
(Reaffirmed and withdrawn)
State Bank Of India                    Lower Tier II Bonds  ICRA AAA    5000   Outstanding
                                       Programme            (Stable)
State Bank Of India                    Medium Term Deposits MAAA(Stable)-      Outstanding
Tadas Wind Energy Pvt Ltd              FB TL                ICRA A-@    8591.5 -
(Revised to ICRA A-@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
Tadas Wind Energy Pvt Ltd              FB CC                ICRA A-@    300    -
(Revised to ICRA A-@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
Tamilnadu State Transport              LT - Fund Based/ CC  ICRA        240    -
Corporation (Kumbakonam) Ltd                                B(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Thangamayil Jewellery Ltd              LT – FB Fac          ICRA BBB+   2600   Outstanding
                                                            (Stable)
Thangamayil Jewellery Ltd              LT/ST – Proposed Fac ICRA BBB+   400    Outstanding
                                                            (Stable) /
                                                            ICRA A2
Uti Asset Management Co. Ltd           UTI Capital          ICRA AAA(SO)  -    Outstanding
                                       Protection Oriented
                                       Scheme Series X - Plan 2
Uti Asset Management Co. Ltd           UTI Capital          ICRA AAA(SO)   -   Outstanding
                                       Protection Oriented
                                       Scheme Series IX - Plan 1
Uti Asset Management Co. Ltd           UTI Capital          ICRA AAA(SO)   -   Outstanding
                                       Protection Oriented
                                       Scheme Series IX - Plan 2
Uti Asset Management Co. Ltd           UTI Capital          ICRA AAA(SO)   -   Outstanding
                                       Protection Oriented
                                       Scheme Series IX - Plan 3
Uti Asset Management Co. Ltd           UTI Floater Fund     ICRA AAAmfs -      Outstanding
Uti Asset Management Co. Ltd           UTI Treasury         ICRA AAAmfs -      Outstanding
                                       Advantage Fund
Uti Asset Management Co. Ltd           UTI Ultra ST Fund    ICRA AAAmfs -      Outstanding
Uti Asset Management Co. Ltd           UTI Corporate Bond   ICRA AAAmfs -      Outstanding
                                       Fund
Uti Asset Management Co. Ltd           UTI Bond Fund        ICRA        -      -
                                                            BBB-mfs@
(placed on notice for withdrawal for 1 month. 
@Under rating Watch with Negative Implications)
Uti Asset Management Co. Ltd          UTI Dynamic Bond Fund ICRA        -      -
                                                            BBB-mfs@
(placed on notice for withdrawal for 1 month. 
@Under rating Watch with Negative Implications)
Uti Asset Management Co. Ltd           UTI Bking and PSU    ICRA        -      Outstanding
                                       Debt Fund            BBB-mfs@
(@Under rating Watch with Negative Implications)
Virtusa Consulting Services            NCDs                 ICRA        20000  Outstanding
Pvt Ltd                                                     A+(Stable)
Wind Urja India Pvt Ltd                FB TL                ICRA A+@    1330.9 -
(Revised to ICRA A+@ from ICRA AA- (Stable) placed on rating watch with negative implications. 
@ on watch with negative implications)
--------------------------------------------------------------------------------------------
$: 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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