April 22, 2020 / 11:35 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Apr 22

 (Repeating to add additional ratings)
    Apr 22 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of April 21, 2020.    


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Bahadur Chand Investments Pvt          CP                   ICRA A1+    25000  Reaffirmed
Ltd
Hindustan Steel Corporation            BG                   ICRA A4     -      Assigned
Iifl Finance Ltd                       CP Programme         ICRA A1+    80000  Assigned
Iifl Finance Ltd                       CP Programme (IPO    ICRA A1+    80000  Assigned
                                       Financing)
India Carbon Ltd                       Non-FB Fac           ICRA A2     476    Reaffirmed
India Infoline Finance Ltd             Sparkle Trust July   ICRA        -      Withdrawn
                                       2019 -PTC Series A   A1+(SO)
India Infoline Finance Ltd             Luminous Trust July  ICRA        -      Withdrawn
                                       2019 -PTC Series A   A1+(SO)
India Infoline Finance Ltd             Aurous Trust July    ICRA        -      Withdrawn
                                       2019 -PTC Series A   A1+(SO)
India Infoline Finance Ltd             Shining Metal Trust  ICRA        -      Withdrawn
                                       July 2019 -PTC SeriesA1+(SO)
                                       A
India Infoline Finance Ltd             Aurum Trust July 2019 ICRA       -      Withdrawn
                                       -PTC Series A        A1+(SO)
M Venkatachalapathi                    ST – Non fund based/B ICRA A4    60     Assigned
Mastek Ltd                             ST non-fund based    ICRA A1+    90     Reaffirmed
Ongc Petro Additions Ltd               CP                   ICRA A1+    5000   outstanding
Ongc Petro Additions Ltd               Non-FBL              ICRA A1+;   29240  outstanding
Unique Structures Amp; Towers          Non-fund Based       ICRA A4     927    -
Ltd
(revised from ICRA A4+)
Zeco Aircon Ltd                        ST: Non-fund Based   ICRA A4+    150    -
(Rating downgraded from ICRA A2 and moved to ‘Issuer Not Cooperating’ category)
Outshiny India Pvt Ltd (Erstwhile      ST – Fundbased       ICRA A4+    180
Outshiny India Apparels Pvt Ltd)
Issuer not Cooperating


LONG TERM RATINGS:
-------------------
Bahadur Chand Investments Pvt          LT Borrowing Programme ICRA AA   500    Reaffirmed
Ltd
(outlook revised to Negative from Stable)
Bahadur Chand Investments Pvt          NCD Programme        ICRA AA     31500  Reaffirmed
Ltd
(outlook revised to Negative from Stable)
Hindustan Steel Corporation            Unallocated facility ICRA B+     15     Assigned
                                                            (Stable) /
                                                            ICRA A4
Hindustan Steel Corporation            Fund based facility  ICRA B+     160    Assigned
                                                            (Stable);
Iifl Finance Ltd                       NCD Programme        ICRA AA     50000  Assigned
                                                            (negative)
Iifl Finance Ltd                       Subordinated Debt    ICRA AA     10000  Assigned
                                       Programme            (negative)
Iifl Finance Ltd                       LT Bk Lines          ICRA AA     57750  Assigned
                                                            (negative)
Iifl Finance Ltd                       NCD Programme        ICRA AA     50100  Assigned
                                                            (negative)
Iifl Finance Ltd                       LT Principal         PP-MLDICRA  5000   Assigned
                                       Protected Equity     AA
                                       Linked Debenture Prog(negative)
Iifl Finance Ltd                       LT Principal         PP-MLDICRA  5000   Assigned
                                       Protected Market     AA
                                       Linked Debenture Prog(negative)
India Carbon Ltd                       FB Fac               ICRA BBB+   524    Reaffirmed
                                                            (Negative)
M Venkatachalapathi                    LT – Fund based/CC   ICRA        35     Assigned
                                                            BB-Stable
M Venkatachalapathi                    LT/ST – Unallocated  ICRA        5      Assigned
                                       limits               BB-Stable /
                                                            ICRA A4
Mastek Ltd                             LT FB                ICRA A+     40     Reaffirmed
(outlook revised from Positive to Stable)
Mastek Ltd                             LT/ST fund           ICRA A+ /   60     Reaffirmed
                                       based/non-fund based ICRA A1+
(outlook revised from Positive to Stable)
Ongc Petro Additions Ltd               TL (Secured)         ICRA AA     -      outstanding
                                                            (Stable)
Ongc Petro Additions Ltd               FBL                  ICRA AA     15580  outstanding
                                                            (Stable) /
                                                            ICRA A1+;
Ongc Petro Additions Ltd               TL (Unsecured)       ICRA        65000  outstanding
                                                            AAA(CE)
                                                            (Stable)
Ongc Petro Additions Ltd               NCD                  ICRA        30000  outstanding
                                                            AAA(CE)
                                                            Stable
Ongc Petro Additions Ltd               Compulsorily         ICRA        72860  outstanding
                                       Convertible Debenture AAA(CE)
                                                            Stable
Ongc Petro Additions Ltd               NCD                  Provisional 5000   outstanding
                                                            ICRA
                                                            AAA(CE) Stable
S.M.I.L.E. Microfinance Ltd            LT – FB TL           ICRA BBB    1547   Reaffirmed
(outlook revised to Negative from Stable)
S.M.I.L.E. Microfinance Ltd            LT - Unallocated     ICRA BBB    953    Reaffirmed
(outlook revised to Negative from Stable)
S.M.I.L.E. Microfinance Ltd            NCD                  ICRA BBB    400    Reaffirmed
(outlook revised to Negative from Stable)
S.M.I.L.E. Microfinance Ltd            NCD                  ICRA BBB    50     Reaffirmed
(outlook revised to Negative from Stable)
Unique Structures Amp; Towers          FB – CC              ICRA BB     242.5  -
Ltd                                                         (Negative)
(revised from ICRA BB+ Stable)
Unique Structures Amp; Towers          FB – TL              ICRA BB     13.9   -
Ltd                                                         (Negative)
(revised from ICRA BB+ Stable)
Zeco Aircon Ltd                        LT: Fund Based/CC    ICRA BB+    550    -
                                                            (Stable)
(Rating downgraded from ICRA BBB(Stable) and moved to ‘Issuer Not Cooperating’ category)
Zeco Aircon Ltd                        LT: Fund Based/ TL   ICRA BB+    227.5  -
                                                            (Stable)
(Rating downgraded from ICRA BBB(Stable) and moved to ‘Issuer Not Cooperating’ category)
Zeco Aircon Ltd                        LT/ST/Unallocated    ICRA BB+    72.5   -
                                                            (Stable)/A4+
(Rating downgraded from ICRA BBB(Stable)/A2 and moved to ‘Issuer Not Cooperating’ category)
Outshiny India Pvt Ltd (Erstwhile      LT – Fundbased – CC  ICRA BB     65
Outshiny India Apparels Pvt Ltd)                            (Stable)
Issuer not Cooperating
--------------------------------------------------------------------------------------------
$: 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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