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ICRA ratings for Indian debt instruments-Sep 9

    Sep 9 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of September 8, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Bhaskar Prakashan Pvt Ltd              ST – Non-fund Based  ICRA A2+    15.5   Reaffirmed
Merit Technologies India Ltd           ST Non-FB Fac        ICRA A4+    160    Reaffirmed
Plr Projects Pvt Ltd                   Non-fund Based       ICRA A3     4450   -
(downgraded from ICRA A3+)
Reliance Industries Ltd                CP                   ICRA A1+    100000 -
Suryoday Small Finance Bank Ltd        Certificates of      ICRA A1+    1300   outstanding
                                       deposit programme
Tech Auto Pvt Ltd                      FB - Vendor Financing ICRA A2+   -      -
(reaffirmed and withdrawn)
Tech Auto Pvt Ltd                      ST - Non-fund based  ICRA A2+    1      Reaffirmed
Tim World Enterprises                  Unallocated ST       ICRA A4     66     Withdrawn
                                       Non-fund based
 

LONG TERM RATINGS:
-------------------
Bhaskar Prakashan Pvt Ltd              Fund based – TL      ICRA A-     75     Reaffirmed
                                                            (Stable)
Bhaskar Prakashan Pvt Ltd              Fund based – CC      ICRA A-     79.5   Reaffirmed
                                                            (Stable)
Bhaskar Prakashan Pvt Ltd              Unallocated – LT     ICRA A-     3      Reaffirmed
                                                            (Stable)
Gayatri Hi-Tech Hotels Ltd             LT– Fund Based- CC   ICRA D      180    Withdrawn
(ISSUER NOT COOPERATING)
Gayatri Hi-Tech Hotels Ltd             LT- Fund Based- TL   ICRA D      4911   Withdrawn
(ISSUER NOT COOPERATING)
Gayatri Hi-Tech Hotels Ltd             LT- Non Fund Based   ICRA D      268    Withdrawn
(ISSUER NOT COOPERATING)
Gayatri Hi-Tech Hotels Ltd             LT- Unallocated      ICRA D      11     Withdrawn
(ISSUER NOT COOPERATING)
Gvr Seafoods                           Proposed limits –    ICRA        70     Withdrawn
                                       LT/ST                BB-(Stable)
                                                            / A4
Irm Pvt Ltd                            FB-TL                ICRA BBB-   61.7   Reaffirmed
(outlook revised to Negative from Stable)
Irm Pvt Ltd                            FB-Working Capital   ICRA BBB-   350    Reaffirmed
                                       Limits
(outlook revised to Negative from Stable)
Irm Pvt Ltd                            Non-fund Based- BG   ICRA        100    Reaffirmed
                                                            BBB-/ICRA A3
(outlook revised to Negative from Stable)
Irm Pvt Ltd                            FB/ Non-fund         ICRA        132.4  Reaffirmed
                                       Based Unallocated    BBB-/ICRA A3
                                       Limits
(outlook revised to Negative from Stable)
Jabs International Pvt Ltd             FB/Non-fund based-   ICRA        1180   Reaffirmed
                                      Pre-and Post Shipment BBB+/ICRA A2
                                       Credit (EPC/PCFC/FBP/FBD)
(Outlook revised from Stable to Positive)
Merit Technologies India Ltd           LT FB Fac            ICRA BB+    10     -
                                                            (Stable)
(upgraded from ICRA BB (Stable))
Plr Projects Pvt Ltd                   Fund Based           ICRA BBB-   880    -
                                                            (Negative)
(downgraded from ICRA BBB(Stable))
Plr Projects Pvt Ltd                   Unallocated          ICRA BBB-   70     -
                                                            (Negative)
                                                            / ICRA A3
(downgraded from ICRA BBB (Stable)/ICRA A3+)
Pragatej Builders & Developers         LT – Fund Based TL   ICRA D      200    -
Pvt Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Reliance Industries Ltd                NCDs                 ICRA AAA    570000 -
                                                            (Stable)
Sagar Grandhi Aqua Farms               Proposed limits –    ICRA BB-    70     Withdrawn
                                       Long term/ST         (Stable) /
                                                            A4
Suryoday Small Finance Bank Ltd        Subordinated debt    ICRA        1000   Assigned
                                       programme            A(Stable)
Suryoday Small Finance Bank Ltd        NCD programme        ICRA        50     outstanding
                                                            A(Stable)
Suryoday Small Finance Bank Ltd        Subordinated debt    ICRA        500    outstanding
                                       programme            A(Stable)
Tech Auto Pvt Ltd                      FB - CC              ICRA A-     74     Reaffirmed
                                                            (Stable)
Tech Auto Pvt Ltd                      FB - TL              ICRA A-     -      -
                                                            (Stable)
(reaffirmed and withdrawn)
Tim World Enterprises                  Unallocated LT Fund  ICRA B+     30     Withdrawn
                                       Based                (Stable)
Tim World Enterprises                  Unallocated – ST/LT  ICRA B+     4      Withdrawn
                                                            (Stable)/
                                                            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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