April 27, 2020 / 12:06 PM / a month ago

RPT-ICRA ratings for Indian debt instruments-Apr 27

 (Repeating to add additional ratings)
   Apr 27 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of April 24, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Anshul Impex Pvt Ltd                   ST - Non-Fund Based  ICRA A4     450    -
(Rating downgraded from ICRA A4+ ISSUER NOT COOPERATING and continues to remain under ‘Issuer
Not Cooperating’ category.)
Avia Ceramic Pvt. Ltd                  BG                   ICRA A4     10     -
(Rating moved to ‘issuer not cooperating category)
Ayana Renewable Power Pvt Ltd          Non-FBL              ICRA A1+    500    -
(rating watch removed)
Fine Wood Products Pvt Ltd             Non-fund Based       ICRA A4+    150    -
(Rating downgraded from ICRA A3 and moved to ‘Issuer Not Cooperating’ category)
Gokaldas Exports Ltd                   ST FB working capital ICRA A3+   5250   Reaffirmed
                                       Fac
Maharashtra Seamless Ltd               ST fund based        ICRA A1+    450    Reaffirmed
                                       (ShortTL/ Bill
                                       Discounting Fac)
Manmatha Nath Kundu & Sons             Non FB Limit – BG    ICRA A4     70     -
Construction Co. Pvt. Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Poona Dal And Besan Mills Pvt          ST – Non-fund based  ICRA A2     2090   -
Ltd
(downgraded from ICRA A2+)
Poona Dal And Oil Industries           ST – Non-fund based  ICRA A2     1980   -
Ltd
(downgraded from ICRA A2+)
Rajratan Global Wire Ltd               Non-FB Fac           ICRA A2+    523.6  Reaffirmed
S.P. Apparels Ltd                      ST FB working capital ICRA A1    1925   Reaffirmed
                                       Fac
S.P. Apparels Ltd                      ST FB working capital ICRA A1    -      Reaffirmed
                                       Fac (sub-limits)
S.P. Apparels Ltd                      Non-fund based       ICRA A1     425    Reaffirmed
                                       working capital Fac
Srl Diagnostics Pvt Ltd                ST interchangeable   ICRA A1&    -      -
(&: on watch with developing implications. Upgraded from ICRA A2; Ratings placed on
watch with developing implications)
Srl Ltd                                ST interchangeable   ICRA A1&    -      -
(&: on watch with developing implications. Upgraded from ICRA A2; Ratings
placed on watch with developing implications)
Subros Ltd                             Non-fund Based -     ICRA A1+    1150   Outstanding
                                       Working Capital Fac
Subros Ltd                             CP Programme         ICRA A1+    750    Outstanding
Ag Granites Pvt Ltd                    ST – Fundbased       ICRA A3     240
Information yet to be received from the issuer
Ag Granites Pvt Ltd                    ST – Nonfund based   ICRA A3     43
Information yet to be received from the issuer
Amman Granites                         ST – Fundbased       ICRA A3     150
Information yet to be received from the issuer
Amman Granites                         ST – Nonfund based   ICRA A3     30
Information yet to be received from the issuer
Indiana Hospital And Heart Institute LtST NonFund Based     ICRA A4     5
Issuer Not Cooperating
Meenaxi Exports                        ST- FBL              ICRA A4     90
Issuer Not Cooperating
N. D. Plastics                         Non FB – FLC/ ILC    ICRA A4     30
Issuer Not Cooperating
Preeti Textile                         Non-fund based - FLC ICRA A4
                                       (Sublimit of TL)
Issuer Not Cooperating
Trt Builders & Constructions (India)   ST – NonFund Based   ICRA A4     40
Pvt Ltd
Issuer Not Cooperating
Vaighai Agro Products Ltd              Fund based facility  ICRA A3     25
Issuer Not Cooperating
Vaighai Agro Products Ltd              Fund based facility –ICRA A3
                                       Sub-limit
Issuer Not Cooperating
Vaighai Agro Products Ltd              Non-FB facility      ICRA A3     160
Issuer Not Cooperating
Vogue Clothing Company                 Fund based facility  ICRA A4     57
Issuer Not Cooperating
LONG TERM RATINGS:
-------------------
Anshul Impex Pvt Ltd                   LT - Fund Based/ CC  ICRA        300    -
                                                            B+(Stable)
(Rating downgraded from ICRA BB+(Stable) ISSUER NOT COOPERATING and continues to remain under
‘Issuer Not Cooperating’ category)
Apex Meadows Pvt. Ltd                  LT-Fund Based-CC     ICRA        250    Assigned
                                                            BB+(Stable);
Asa International India                Vivriti Derek 06 2019 ICRA A(SO)  -     Withdrawn
Microfinance Ltd                       -PTC Series A1
Asa International India                Vivriti Derek 06 2019 ICRA        -     Withdrawn
Microfinance Ltd                       -PTC Series A2       BBB+(SO)
Avia Ceramic Pvt. Ltd                  Unallocated Limits   ICRA B+     29.8   -
                                                            (Stable)/A4
(Rating moved to ‘issuer not cooperating category)
Avia Ceramic Pvt. Ltd                  CC                   ICRA        25     -
                                                            B+(Stable)
(Rating moved to ‘issuer not cooperating category)
Avia Ceramic Pvt. Ltd                  TL                   ICRA        10.2   -
                                                            B+(Stable)
(Rating moved to ‘issuer not cooperating category)
Ayana Ananthapuramu Solar Pvt          TL                   ICRA A-     9600   Assigned
Ltd                                                         (Stable);
Ayana Ananthapuramu Solar Pvt          CC/Overdraft         ICRA A-     100    Assigned
Ltd                                                         (Stable);
Ayana Renewable Power Pvt Ltd          Non-FBL              ICRA A+     4500   -
(rating watch removed; Stable outlook assigned)
Bharat Food & Agro Products            CC                   ICRA D      126.5  -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Bharat Food & Agro Products            TL                   ICRA D      143.5  -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Brij Bhoomi Expressway Pvt Ltd         Fund Based – TL      ICRA BBB-   1500   -
                                                            (Negative)
(downgraded from ICRA BBB (Stable))
Deorani Devi Memorial Trust            FBL – TL             ICRA D      141.3  -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Deorani Devi Memorial Trust            Untied Limit         ICRA D/ICRA 8.7    -
                                                            D
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Fine Wood Products Pvt Ltd             CC                   ICRA BB+    150    -
                                                            (Stable)
(Rating downgraded from ICRA BBB- (Stable) and moved to ‘Issuer Not Cooperating’ category)
Fine Wood Products Pvt Ltd             TL                   ICRA BB+    30     -
                                                            (Stable)
(Rating downgraded from ICRA BBB- (Stable) and moved to ‘Issuer Not Cooperating’ category)
Fine Wood Products Pvt Ltd             Issuer Rating        ICRA BB+    -      -
                                                            (Stable)
(Rating downgraded from ICRA BBB- (Stable) and moved to ‘Issuer Not Cooperating’ category)
Fusion Microfinance (Pvt.) Ltd         Vivriti Ravenclaw 02 ICRA AAA(SO)-      Withdrawn
                                       2019 - PTC Series A1
Gokaldas Exports Ltd                   FB TL - Proposed     ICRA BBB    500    Reaffirmed
Il&Fs Tamil Nadu Power Co. Ltd         TL                   ICRA D      60800  -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Il&Fs Tamil Nadu Power Co. Ltd         NCD Programme        ICRA D      5000   -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
India Infrastructure Finance           GoI guaranteed debt^ ICRA AAA    16000  Reaffirmed
Co. Ltd                                                     (CE)
                                                            (Stable)
(^ Backed by unconditional and irrevocable guarantee from the Government of India)
India Infrastructure Finance           Tax-free/TBs         ICRA AAA    180000 Reaffirmed
Co. Ltd                                                     (Stable)
India Infrastructure Finance           Subordinated debt    ICRA AAA    12000  Reaffirmed
Co. Ltd                                                     (Stable)
Indiabulls Housing Finance Ltd         Innovation Trust     ICRA AA(SO) 4438.1 Outstanding
                                       XXXII Dec-19 -
                                       Assignee Payouts
Jay Bharat Food Process Pvt Ltd        FBL – CC             ICRA B+     30     -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Jay Bharat Food Process Pvt Ltd        FBL – TL             ICRA B+     122.9  -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Jay Bharat Spices Pvt Ltd              FBL – CC             ICRA B+     130    -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Jay Bharat Spices Pvt Ltd              FBL – TL             ICRA B+     19.5   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kamarajar Port Ltd                     LT; TFBs             ICRA AA     -      Reaffirmed
(Outlook revised to Stable from Positive)
Kunj Bihari Lal Radhey Shyam           LT Fund based/CC     ICRA B+     75     Withdrawn
Metals Pvt Ltd                                              (Stable)
(Issuer did not co-operate; based on best available information)
Maharashtra Seamless Ltd               Issuer Rating        ICRA AA-    -      Reaffirmed
                                                            (Negative)
Maharashtra Seamless Ltd               LT/ ST Non-fund Based ICRA AA-   9740   Reaffirmed
                                       (LOC/ Buyer’s Credit/(Negative)/
                                       BG)                  ICRA A1+
Maharashtra Seamless Ltd               LT fund based (CC)   ICRA AA-    150    Reaffirmed
                                                            (Negative)
Maharashtra Seamless Ltd               LT fund based (TL)   ICRA AA-    660    Reaffirmed
                                                            (Negative)
Manmatha Nath Kundu & Sons             FBL – CC             ICRA B+     70     -
Construction Co. Pvt. Ltd                                   (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Paras Foods                            CC                   ICRA D      80     -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Poona Dal And Besan Mills Pvt          LT – FB/CC           ICRA BBB+   163.5  -
Ltd                                                         (stable)
(downgraded from ICRA A-; outlook revised from Negative)
Poona Dal And Oil Industries           LT – FB/CC           ICRA BBB+   190    -
Ltd                                                         (stable)
(downgraded from ICRA A-; outlook revised from Negative)
Prestige Hospitality Ventures          Fund based - TL      ICRA A+(CE) 3500   Assigned
Ltd                                                         (Stable)
Radhekrishna Cotton Industries         CC                   ICRA B+     70     -
                                                            (Stable)
(Rating downgraded from ICRA BB-(Stable) and moved to remain under ‘Issuer Not Cooperating’
category)
Radhekrishna Cotton Industries         TL                   ICRA B+     4.3    -
                                                            (Stable)
(Rating downgraded from ICRA BB-(Stable) and moved to remain under ‘Issuer Not Cooperating’
category)
Rajratan Global Wire Ltd               Issuer Rating        ICRA        -      Reaffirmed
                                                            A-(Stable)
Rajratan Global Wire Ltd               FB - TL              ICRA        483.9  Reaffirmed
                                                            A-(Stable)
Rajratan Global Wire Ltd               FB - CC Fac          ICRA        652.5  Reaffirmed
                                                            A-(Stable)
Rajratan Global Wire Ltd               FB/Non-FB Fac        ICRA        100    Reaffirmed
                                                            A-(Stable)/
                                                            ICRA A2+
Robust Marketing Services Pvt          NCD Programme        ICRA        2800   Confirmed as
Ltd                                                         BB+(Stable)        final
S.P. Apparels Ltd                      FB -TL               ICRA A+     387    Reaffirmed
(long-term outlook revised to Negative from Stable)
S.P. Apparels Ltd                      LT FB working capital ICRA A+    -      Reaffirmed
                                       Fac (sub-limits)
(long-term outlook revised to Negative from Stable)
S.P. Apparels Ltd                      Unallocated Fac      ICRA A+/    36     Reaffirmed
                                                            ICRA A1
(long-term outlook revised to Negative from Stable)
Sayaji Hotels Ltd                      LT -TL               ICRA BBB-   689.5  Reaffirmed
Sayaji Hotels Ltd                      FB- Working Capital  ICRA BBB-   87.5   Reaffirmed
                                       Fac
Sayaji Hotels Ltd                      Non-fund             ICRA BBB-   5      Reaffirmed
                                       Based-Working Capital
                                       Fac
Sayaji Hotels Ltd                      LT Unallocated Limits ICRA BBB-  156.8  Reaffirmed
Sree Kamakshi Raw And Boiled           LT: FBL              ICRA        70     -
Rice Mill                                                   B+(Stable)
(continues to remain ‘Issuer Not Cooperating’ category)
Sree Kamakshi Raw And Boiled           LT: Unallocated      ICRA        30     -
Rice Mill                                                   B+(Stable)
(continues to remain ‘Issuer Not Cooperating’ category)
Srl Diagnostics Pvt Ltd                Non-FBL              ICRA A-&/   20     -
                                                            A1&
(&: on watch with developing implications. Upgraded from ICRA BBB+
(Stable)/A2; Ratings placed on watch with developing
implications)
Srl Diagnostics Pvt Ltd                FB Limits            ICRA A-&    150    -
(&: on watch with developing implications. Upgraded from ICRA BBB+ (Stable);
Ratings placed on watch with developing implications)
Srl Ltd                                FB Limits            ICRA A-&    240    -
(&: on watch with developing implications. Upgraded from ICRA BBB+ (Stable);
Ratings placed on watch with developing
implications)
Srl Ltd                                Non-FBL              ICRA A-&/A1&45     -
(&: on watch with developing implications. Upgraded from ICRA BBB+
(Stable)/A2; Ratings placed on watch with
developing implications)
St. Wilfred Education Society          LT Fund based/TL     ICRA B+     200    -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Subros Ltd                             NCD Programme        ICRA AA-    500    Outstanding
                                                            (Stable)
Subros Ltd                             FB - Working Capital ICRA AA-    400    Outstanding
                                       Fac                  (Stable) /
                                                            ICRA A1+
Subros Ltd                             FB/ Non-fund Based - ICRA AA-    1250   Outstanding
                                       Working Capital Fac  (Stable) /
                                                            ICRA A1+
Subros Ltd                             FB -TL               ICRA        235    Outstanding
                                                            AA-(Stable)
Sundaram Finance Ltd                   Shri Trust Q 2017 -  ICRA AAA(SO)-      Withdrawn
                                       PTC Series A
Surya Vikas Plywood Ltd                FB                   ICRA D      475.4  -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Surya Vikas Plywood Ltd                Unallocated Fundbased ICRA D     24.6   -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
V.I.R Foods Ltd                        CC                   ICRA D      160    -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
V.I.R Foods Ltd                        TL                   ICRA D      20     -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Ag Granites Pvt Ltd                    LT – Fundbased       ICRA BBB-   220
                                                            (Stable)
Information yet to be received from the issuer
Ag Granites Pvt Ltd                    LT – Interchangeable ICRA BBB-
                                                            (Stable)
Information yet to be received from the issuer
Amman Granites                         LT – Fundbased       ICRA BBB-   120
                                                            (Stable)
Information yet to be received from the issuer
Amman Granites                         LT/shortterm –       ICRA BBB-   110
                                       Unallocated          (Stable)/
                                                            ICRA A3
Information yet to be received from the issuer
Indiana Hospital And Heart Institute LtLT Fund based TL     ICRA B      235
                                                            (Stable)
Issuer Not Cooperating
Indiana Hospital And Heart Institute LtLT - Fund Based/ CC  ICRA B      10
                                                            (Stable)
Issuer Not Cooperating
Indiana Hospital And Heart Institute LtLT Interchangeable   ICRA B
                                                            (Stable)
Issuer Not Cooperating
Kshitija Infrastructure Pvt Ltd        FB – TL              ICRA B      250
                                                            (Stable)
Issuer Not Cooperating
Metawood Display Systems               LT, FBL              ICRA D      200
Issuer Not Cooperating
Mini Diamonds (India) Ltd              LT – Fund Based      ICRA D      35
Issuer Not Cooperating
Mini Diamonds (India) Ltd              ST FB limit          ICRA D      55
Issuer Not Cooperating
N. D. Plastics                         FB – CC              ICRA B-     60
                                                            (Stable)
Issuer Not Cooperating
N. D. Plastics                         FB/ Non fund based – ICRA B-     10
                                       Unallocated          (Stable)/
                                                            ICRA A4
Issuer Not Cooperating
Nirmal Traders                         LT fundbased limits  ICRA B+     83.5
                                                            (Stable)
Issuer Not Cooperating
Nirmal Traders                         Unallocated limits   ICRA B+     16.5
                                                            (Stable)/
                                                            ICRA A4
Issuer Not Cooperating
Paari Chem Resources                   LT, fund based: CC^  ICRA BB-
                                                            (Stable)
Issuer Not Cooperating; ^ sub-limit under non fund based facility
Preeti Textile                         FB - CC              ICRA B      10
                                                            (Stable)
Issuer Not Cooperating
Preeti Textile                         FB - TL              ICRA B      48.9
                                                            (Stable)
Issuer Not Cooperating
Priyheer Infrastructures Pvt Ltd       LT FB limit          ICRA B      150
                                                            (Stable)
Issuer Not Cooperating
Raviraj Hi-Tech Pvt Ltd                LT-TL Limits         ICRA D      99.3
Issuer Not Cooperating
Raviraj Hi-Tech Pvt Ltd                LT-CC Limits         ICRA D      50
Issuer Not Cooperating
Raviraj Hi-Tech Pvt Ltd                LT Unallocated LimitsICRA D      0.7
Issuer Not Cooperating
Sheeltron Digital Systems Pvt Ltd      LT – FB – CC         ICRA BB     53
                                                            (Stable)
Issuer Not Cooperating
Sheeltron Digital Systems Pvt Ltd      LT – FB – TL         ICRA BB     20
                                                            (Stable)
Issuer Not Cooperating
Shriniwas Board & Paper Pvt Ltd        LT Fund based/CC     ICRA BB-    80
                                                            (Stable)
Issuer Not Cooperating
Shriniwas Board & Paper Pvt Ltd        LT/ST Non-Fund based ICRA BB-    20
                                                            (Stable)
Issuer Not Cooperating
Skd Realty Llp                         LT FBL-TL            ICRA B+     250
                                                            (Stable)
Issuer Not Cooperating
Trt Builders & Constructions (India)   LT – Fund Based/ CC  ICRA C+     65
Pvt Ltd
Issuer Not Cooperating
Vaighai Agro Products Ltd              TL                   ICRA BBB-   83.2
                                                            (Stable)
Issuer Not Cooperating
Vaighai Agro Products Ltd              Fund based facility  ICRA BBB-   210
                                                            (Stable)
Issuer Not Cooperating
Vaighai Agro Products Ltd              Unallocated facility ICRA BBB-   2.7
                                                            (Stable)
Issuer Not Cooperating
Vogue Clothing Company                 TL                   ICRA B+     3
                                                            (Stable)
Issuer Not Cooperating
Vogue Clothing Company                 Unallocated facility ICRA B+     40
                                                            (Stable)/
                                                            ICRA A4
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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