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ICRA ratings for Indian debt instruments-Sep 7

   Sep 7 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of September 4, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Action Construction Equipment          CP                   ICRA A1+    250    Reaffirmed
Ltd
Bahadur Chand Investments Pvt          CP                   ICRA A1+    25000  Reaffirmed
Ltd
Comstar Automotive                     ST - Non Fund Based  ICRA A1+&   50     -
Technologies Pvt Ltd
(rating continues to be on watch with developing implications)
Comstar Automotive                     ST - Interchangeable ICRA A1+&   -      -
Technologies Pvt Ltd
(rating continues to be on watch with developing implications)
Creditaccess Grameen Ltd               CP                   ICRA A1+    5000   -
(assigned/ outstanding)
Fldec Systems Pvt Ltd                  BG                   ICRA A4+    10     Assigned
Jayshree Builders                      Non-fund based –     ICRA A4     38     -
                                       Standby LOCs
(Reason for delay in carrying out periodic review: Issuer Not Cooperating)
Mackintosh Burn Ltd                    Non-FB Fac           ICRA A3+    1000   -
(downgraded from ICRA A2+)
Mecon Ltd                              Working Capital      ICRA A2     400    Reaffirmed
                                       Facility – Secured
                                       Overdraft
Mitc Rolling Mills Pvt Ltd             ST Fund Based        ICRA A2+    120    Reaffirmed
Mitc Rolling Mills Pvt Ltd             ST Non Fund Based    ICRA A2+    250    Reaffirmed
Mitc Rolling Mills Pvt Ltd             ST Unallocated       ICRA A2+    6.9    Reaffirmed
Motilal Oswal Home Finance Ltd         CP (CP) Programme    ICRA A1+    5000   outstanding
Niif Infrastructure Finance            CP programme         ICRA A1+    6000   Reaffirmed
Limit
Nirma Ltd                              CP Programme         ICRA A1+    15000  Reaffirmed
Origo Commodities India Pvt.           Vivriti-Origo Agro 08 Provisional 47.3  Reaffirmed
Ltd                                    2020 -PTC Series A   ICRA A1(SO)
Origo Commodities India Pvt.           Vivriti-Origo Agro 08 Provisional -     Withdrawn
Ltd                                    2020 -PTC Series A   ICRA A1(SO)
Reliance Commodities Ltd               ST non-fund based Bk ICRA A4     -      -
                                       lines
(reaffirmed and withdrawn, removed from rating watch with negative implications)
Reliance Securities Ltd                CP Programme         ICRA A4     2000   -
(removed from rating watch with negative implications)
Reliance Securities Ltd                ST non-fund based Bk ICRA A4     500    -
                                       lines
(removed from rating watch with negative implications)
Reliance Securities Ltd                ST non-fund based Bk ICRA A4     -      -
                                       lines
(reaffirmed and withdrawn, removed from rating watch with negative implications)
Smbt Sevabhavi Trust                   ST – Non-fund based  ICRA A4     200    Withdrawn
(ISSUER NOT COOPERATING)
Surya Processors Pvt Ltd               ST non-fund based Bk ICRA A4     127.5  -
                                       Fac
(Rating downgraded from ICRA A4+ ISSUER NOT COOPERATING and Continues to remain under ‘Issuer
Not Cooperating’ category)
Tata International Dlt Pvt Ltd         ST, Non-FB Fac       ICRA A2+    100    Reaffirmed
Thangamayil Jewellery Ltd              ST (Interchangeable) ICRA A2     -      Reaffirmed
Ufo Moviez India Ltd                   ST, Non-FB Fac       ICRA A1     100    Reaffirmed
Updater Services Pvt Ltd               Non-fund             ICRA A1+    490    -
                                       Based-Working Capital
                                       Fac
(assigned/outstanding)
Updater Services Pvt Ltd               CP                   ICRA A1+    300    Assigned

 
MEDIUM TERM RATINGS:
-------------------
Thangamayil Jewellery Ltd              Medium-term – Fixed  MA-(Stable) 590    Reaffirmed
                                       Deposit
 
LONG TERM RATINGS:
-------------------
Action Construction Equipment          LT/ST Fund Based     ICRA AA-    1050   Reaffirmed
Ltd                                                         (Stable)/A1+
(long-term rating removed from rating watch with negative implications and Stable outlook
assigned)
Action Construction Equipment          LT/ST Non-fund Based ICRA AA-    1650   Reaffirmed
Ltd                                                         (Stable)/A1+
(long-term rating removed from rating watch with negative implications and Stable outlook
assigned)
Action Construction Equipment          LT/ST Interchangeable ICRA AA-   -      Reaffirmed
Ltd                                                         (Stable)/A1+
(long-term rating removed from rating watch with negative implications and Stable outlook
assigned)
Action Construction Equipment          LT/ST Unallocated    ICRA AA-    250    Reaffirmed
Ltd                                                         (Stable)/A1+
(long-term rating removed from rating watch with negative implications and Stable outlook
assigned)
Afablez Semiconductor Pvt Ltd          TL                   ICRA BB+    165    Assigned
                                                            (Stable)
Afablez Semiconductor Pvt Ltd          Overdraft facility   ICRA BB+    65     Assigned
                                                            (Stable)
Ayush Texlene Ltd                      Fund Based - CC      ICRA        50     -
                                                            B-(Stable)
(Reason for delay in carrying out periodic review: Issuer Not Cooperating)
Bahadur Chand Investments Pvt          LT Borrowing Programme ICRA AA   500    Reaffirmed
Ltd                                                         (Stable)
(Outlook revised to Stable from Negative and withdrawn)
Bahadur Chand Investments Pvt          NCD Programme        ICRA AA     24250  Reaffirmed
Ltd                                                         (Stable)
(Outlook revised to Stable from Negative and withdrawn)
Bahadur Chand Investments Pvt          NCD Programme        ICRA AA     -      Reaffirmed
Ltd                                                         (Stable)
(Outlook revised to Stable from Negative and withdrawn)
Bahadur Chand Investments Pvt          NCD Programme        ICRA AA     6000   Assigned
Ltd                                                         (Stable)
Central Railside Warehouse Co.         LT: Unallocated Limit ICRA A+    -      Withdrawn
Ltd                                                         (Stable)
Cochin International Airport           FB TL                ICRA A+     4000   -
Ltd
(downgraded from ICRA AA- and removed from rating watch with negative implications Stable
outlook assigned)
Comstar Automotive                     LT - Fund Based/ CC  ICRA AA-&   300    -
Technologies Pvt Ltd
(rating continues to be on watch with developing implications)
Comstar Automotive                     LT / ST – Unallocated ICRA       750    -
Technologies Pvt Ltd                                        AA-&/ICRA
                                                            A1+&
(rating continues to be on watch with developing implications)
Creditaccess Grameen Ltd               NCD                  ICRA        3300   Assigned
                                                            A+(Stable)
Creditaccess Grameen Ltd               NCD                  ICRA        -      -
                                                            A+(Stable)
(reaffirmed & withdrawn)
Creditaccess Grameen Ltd               NCD                  ICRA        7594.5 Reaffirmed
                                                            A+(Stable)
Creditaccess Grameen Ltd               Bk Fac               ICRA        35000  outstanding
                                                            A+(Stable)
Datamatics Global Services Ltd         LT / ST - Fund       ICRA A      1100   -
                                       based/Non-fund Based (Stable)
                                                            /ICRA A1
(Assigned/ Reaffirmed)
Fastidious Buildmart Pvt Ltd           Fund Based – TL      ICRA BBB    1250   Assigned
                                                            (Stable)
Fldec Systems Pvt Ltd                  TL                   ICRA BB+    130    Assigned
                                                            (Stable)
Fldec Systems Pvt Ltd                  Overdraft facility   ICRA BB+    160    Assigned
                                                            (Stable)
Ilv Distripark (Mwc) Pvt Ltd           TL                   ICRA A-     500    Reaffirmed
                                                            (Stable)
Ilv Distripark Pvt Ltd                 TL                   ICRA BBB+   1600   -
(Outlook revised to Positive from Stable)
Jayshree Builders                      Fund Based – TL      ICRA        300    -
                                                            B-(Stable)
(Reason for delay in carrying out periodic review: Issuer Not Cooperating)
Jayshree Builders                      Unallocated Limited  ICRA        412    -
                                                            B-(Stable)
                                                            / ICRA A4
(Reason for delay in carrying out periodic review: Issuer Not Cooperating)
Jitf Urban Waste Management            Fund based - TL      ICRA B+     268.3  -
(Bathinda) Ltd                                              (Negative)
(Downgraded from ICRA BB (Negative))
Mackintosh Burn Ltd                    FB Fac               ICRA BBB    400    -
                                                            (Stable)
(downgraded from ICRA BBB+ (Stable))
Mackintosh Burn Ltd                    Unallocated          ICRA BBB    244.5  -
                                                            (Stable)
(downgraded from ICRA BBB+ (Stable))
Mecon Ltd                              Non-fund based - LOC ICRA BBB    100    Reaffirmed
                                                            (Stable)
Mecon Ltd                              Non-fund based - BG  ICRA BBB    3600   Reaffirmed
                                                            (Stable)
Mecon Ltd                              Unallocated Limits – ICRA BBB    990    Reaffirmed
                                       LT/ST                (Stable)/
                                                            ICRA A2
Mitc Rolling Mills Pvt Ltd             LT Fund Based        ICRA BBB+   500    Reaffirmed
(Outlook revised to Negative from Stable)
Motilal Oswal Home Finance Ltd         Bk Lines Programme   ICRA        -      Reaffirmed
                                                            A+(Stable)
Motilal Oswal Home Finance Ltd         NCD (NCD) Programme  ICRA        3250   outstanding
                                                            A+(Stable)
Motilal Oswal Home Finance Ltd         NCD (NCD) Programme  ICRA AA(CE) 3000   outstanding
                                                            (Stable)
Motilal Oswal Home Finance Ltd         Market Linked        PP-MLD      1250   outstanding
                                       Debenture Programme  ICRA
                                                            A+(Stable)
Niif Infrastructure Finance            NCD programme        ICRA        40000  Assigned
Limit                                                       AAA(stable)
Niif Infrastructure Finance            NCD programme        ICRA        80000  Reaffirmed
Limit                                                       AAA(stable)
Nirma Ltd                              TL                   ICRA AA     7500   Reaffirmed
                                                            (Negative)
(rating removed from watch with developing implications Negative outlook assigned)
Nirma Ltd                              NCDs                 ICRA AA            Withdrawn
                                                            (Negative)
(ratings removed from watch with developing implications)
Scrabble Entertainment Ltd             LT, FB Fac           ICRA A      30     Reaffirmed
                                                            (Stable)
Sgh Realty Llp                         LT FB – TL           ICRA BBB+   4210   Assigned
                                                            (Stable)
Sgh Realty Llp                         LT – FB/Non FB#      ICRA BBB+   -      Assigned
                                                            (Stable)
(# - Includes three facilities (dropline overdraft, letter of credit, bank guarantee) which are
sublimit to the term loan facility)
Sgh Realty Llp                         LT – FB/Non FB       ICRA BBB+   90     Assigned
                                                            (Stable)
Smbt Sevabhavi Trust                   LT - Fund based – TL ICRA        2034   Withdrawn
                                                            B(Stable)
(ISSUER NOT COOPERATING)
Smbt Sevabhavi Trust                   LT - Fund based – CC ICRA        36     Withdrawn
                                                            B(Stable)
(ISSUER NOT COOPERATING)
Star Rays                              LT/ST Fund based Limit ICRA A-   3600   Reaffirmed
                                                            (Negative)
                                                            / ICRA A2+
(removed from watch with negative implications and Negative outlook assigned)
Surya Processors Pvt Ltd               LT FB Bk Fac – TL    ICRA B+     714.7  -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Negative) ISSUER NOT COOPERATING and Continues to remain under
‘Issuer Not Cooperating’ category)
Surya Processors Pvt Ltd               LT FB Bk Fac – CC    ICRA B+     470    -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Negative) ISSUER NOT COOPERATING and Continues to remain under
‘Issuer Not Cooperating’ category)
Surya Processors Pvt Ltd               Unallocated          ICRA B+     187.8  -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Negative) ISSUER NOT COOPERATING and Continues to remain under
‘Issuer Not Cooperating’ category.)
Tata International Dlt Pvt Ltd         Long-TL              ICRA A-     242.4  Reaffirmed
                                                            (Stable)
Tata International Dlt Pvt Ltd         LT, FB Fac           ICRA A-     300    Reaffirmed
                                                            (Stable)
Tata International Dlt Pvt Ltd         LT / ST, FB / Non-FB ICRA A-     100    Reaffirmed
                                       Fac                  (Stable) /
                                                            ICRA A2+
Thangamayil Jewellery Ltd              LT – FB Fac          ICRA BBB+   2600   Reaffirmed
                                                            (Stable)
Thangamayil Jewellery Ltd              LT/ST – Proposed Fac ICRA BBB+   400    Reaffirmed
                                                            (Stable) /
                                                            ICRA A2
Trishakti Agro Foods                   Unallocated Limits   ICRA B+     131.7  Assigned
                                                            (Stable)/
                                                            ICRA A4
Ufo Moviez India Ltd                   Long-TL              ICRA A+     973    Reaffirmed
                                                            (Stable)
Ufo Moviez India Ltd                   LT, FB Fac           ICRA A+     750    Reaffirmed
                                                            (Stable)
Updater Services Pvt Ltd               FB - Working Capital ICRA        950    -
                                       Fac                  A+/Stable
(assigned/outstanding)
Updater Services Pvt Ltd               FB – (sublimit)      ICRA        -      outstanding
                                                            A+/Stable
--------------------------------------------------------------------------------------------
$: 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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