July 22, 2020 / 8:45 AM / 16 days ago

RPT-ICRA ratings for Indian debt instruments-Jul 22

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

COMPANY                                INSTRUMENT           RATING      AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                 ----------           ------      -----   ---------
SHORT TERM RATINGS:
-------------------
Ankur Udyog Ltd                        ST – Non-fund Based  ICRA A2     20     Revised from
                                                                               ICRA A2+
Canon Ball Fashions                    ST- Fund Based       ICRA A4     60     Issuer Not
                                                                               Cooperating
Energo Engineering Projects Ltd        ST Non Fund Based    ICRA D      11500
Issuer Not Cooperating Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Indigo Jewellery (India) Manufacturing ST FB                ICRA A4+    250
Pvt Ltd
Downgraded from ICRA A2 and moved to the ‘Issuer Not Cooperating’ category
Indigo Jewellery (India) Manufacturing ST unallocated amountICRA A4+    100
Pvt Ltd
Downgraded from ICRA A2 and moved to the ‘Issuer Not Cooperating’ category
Indigo Jewellery (India) Manufacturing ST interchangeable   ICRA A4+
Pvt Ltd
Downgraded from ICRA A2 and moved to the ‘Issuer Not Cooperating’ category
Lucky Ply And Laminates                Non-fund based – LOC ICRA A4     130    Reaffirmed
Neel Metal Products Ltd                CP/ST debt           ICRA A2     1000
downgraded from ICRA A2+; removed from rating watch with developing implications
Pavansut Paper Mill Pvt. Ltd.          Non-fund Based BG    ICRA A4     7      Reaffirmed
Pyramid Timber Associates Pvt Ltd      ST- FB (Inland Bill  ICRA A4+    10     Reaffirmed
                                       Discounting)
Pyramid Timber Associates Pvt Ltd      ST-Non-fund Based    ICRA A4+    100    Reaffirmed
Satya Microcapital Ltd.                CP                   ICRA A3     100    outstanding
Scorpios Apparels Pvt Ltd              ST – Fund Based      ICRA A4+    140    Reaffirmed
Scorpios Apparels Pvt Ltd              ST – Non-fund Based  ICRA A4+    10     Reaffirmed
Seasons Healthcare Ltd                 ST – Non Fund Based  ICRA A4     50.8
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shanti Gopal Concast Ltd               ST – Non Fund based  ICRA A4     20
Rating continue to remain in ‘Issuer Not Cooperating’ category
Som Projects Pvt. Ltd.                 Non-fund based/ BG   ICRA A3+    1247.5 Assigned
Sree Akkamamba Textiles Ltd            Non-fund based       ICRA A4+    30
                                       facility
Reaffirmed
Tata Elxsi Ltd                         Non-fund based       ICRA A1+    100    Review
                                                                               process is
                                                                               underway
Triton Hotels & Resorts Pvt Ltd        FB Bk Fac (Overdraft)ICRA A2     130

MEDIUM TERM RATINGS:
-------------------
Berar Finance Ltd                      Fixed Deposits       MA- (Stable)1050   outstanding

LONG TERM RATINGS:
-------------------
Akshar Cotton Industries               FB – TL              ICRA D      0.3
Downgraded from ICRA B+ (Stable) Issuer Not Cooperating and continues to remain under ‘Issuer
Not Cooperating’ category
Akshar Cotton Industries               Fun-based – CC       ICRA D      100
Downgraded from ICRA B+ (Stable) Issuer Not Cooperating and continues to remain under ‘Issuer
Not Cooperating’ category
Akshar Cotton Industries               Unallocated Limits   ICRA D      13.9
Downgraded from ICRA B+ (Stable) Issuer Not Cooperating and continues to remain under ‘Issuer
Not Cooperating’ category
Alapatt Fashion Jewellery              LT- Fund Based       ICRA B-     55     Issuer Not
                                                            (Stable)           Cooperating
Alapatt Jewels                         LT- Fund Based       ICRA B      5      Issuer Not
                                                            (Stable)           Cooperating
Anangoor Textile Mills Pvt Ltd         LT fund based –      ICRA B+     380    Issuer Not
                                       Working capital limit(Stable)           Cooperating
Anangoor Textile Mills Pvt Ltd         LT fund based -TL    ICRA B+     78     Issuer Not
                                                            (Stable)           Cooperating
Ankur Udyog Ltd                        LT - TL              ICRA BBB    2380
                                                            (Stable)
revised from ICRA BBB+ (Stable)
Ankur Udyog Ltd                        LT – CC              ICRA BBB    150    Assigned
                                                            (Stable)
Arihant Dream Infra Projects Ltd       LT Fund based/ TL    ICRA D      149
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Balprada Hotels And Hospitality        -                    -
Services Pvt Ltd
Removed from ‘Issuer Not Cooperating’ category
Berar Finance Ltd                      NCDs - Programme     ICRA BBB    200    Assigned
                                                            (Stable)
Berar Finance Ltd                      Bk Fac               ICRA BBB    1419.2 outstanding
                                                            (Stable)
Berar Finance Ltd                      NCDs Programme       ICRA BBB    100    outstanding
                                                            (Stable)

Energo Engineering Projects Ltd        LT- TL               ICRA D      227.5
Issuer Not Cooperating Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Energo Engineering Projects Ltd        LT- Fund Based       ICRA D      1400
Issuer Not Cooperating Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Global Aluminium Pvt Ltd               FBL- CC              ICRA BBB+   430    Review
                                                            (Stable)           process is
                                                                               underway
Global Aluminium Pvt Ltd               LT- Unallocated limitICRA BBB+   20     Review
                                                            (Stable)           process is
                                                                               underway
Gmr Warora Energy Ltd                  NCD (NCD) Programme  ICRA D      750
rating continues to remain under Issuer Not Cooperating category; Revised from ICRA C Issuer Not
Cooperating
Hindustan Cotton Spinning Mills        LT- TL               ICRA BB-    39     Issuer Not
                                                            (Stable)           Cooperating
Hindustan Cotton Spinning Mills        LT- CC               ICRA BB-    72.5   Issuer Not
                                                            (Stable)           Cooperating
Hindustan Cotton Spinning Mills        LT- Unallocated      ICRA BB-    28.5   Issuer Not
                                                            (Stable)           Cooperating
Indigo Jewellery (India) Manufacturing LT FB limit          ICRA BB+    250
Pvt Ltd                                                     (Stable)
Downgraded from ICRA BBB+(Stable) and moved to the ‘Issuer Not Cooperating’ category
Jmd Ltd                                -                    -
Removed from ‘Issuer Not Cooperating’ category
Jonna Steels                           LT - FBL             ICRA B+     145
                                                            (Stable)
Issuer delayed in giving information
Jonna Steels                           Unallocated limits   ICRA B+     5
                                                            (Stable)
Issuer delayed in giving information
Krn Alloys Pvt Ltd                     LT Fund based/ TL    ICRA B-     53
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Krn Alloys Pvt Ltd                     LT Fund based/CC     ICRA B-     30
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Krn Alloys Pvt Ltd                     LT Unallocated       ICRA B-     27.6
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Kshitija Infrastructure Pvt Ltd        FB – TL              ICRA B      250
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Lucky Ply And Laminates                Fund based – CC      ICRA BB     50     Reaffirmed
outlook revised to Negative from Stable
Lucky Ply And Laminates                Unallocated limits   ICRA BB/    41.5   Reaffirmed
                                                            ICRA A4
outlook revised to Negative from Stable
Neel Metal Products Ltd                TL                   ICRA BBB+   1903.2
                                                            (Negative)
downgraded from ICRA A-; removed from rating watch with developing implications and Negative
outlook assigned
Neel Metal Products Ltd                LT Non-FB Fac        ICRA BBB+   3600
                                                            (Negative)
downgraded from ICRA A-; removed from rating watch with developing implications and Negative
outlook assigned
Neel Metal Products Ltd                LT/ST FB Fac         ICRA BBB+   7229.8
                                                            (Negative)/A2
downgraded from ICRA A-/A2+; removed from rating watch with developing implications and Negative
outlook assigned
Neel Metal Products Ltd                LT/ST Non-FB Fac     ICRA BBB+   2810
                                                            (Negative)/A2
downgraded from ICRA A-/A2+; removed from rating watch with developing implications and Negative
outlook assigned
Neel Metal Products Ltd                Unallocated          ICRA BBB+   245.2
                                                            (Negative)/A2
downgraded from ICRA A-/A2+; removed from rating watch with developing implications and Negative
outlook assigned
Neel Metal Products Ltd                Interchangeable Fac**ICRA BBB+
                                                            (Negative)/A2
downgraded from ICRA A-/A2+; removed from rating watch with developing implications and Negative
outlook assigned; **Sublimit of other working capital facilities
Omkar Infratech Ltd                    LT Fund based/ CC    ICRA B      60
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Omkar Infratech Ltd                    LT Fund based/ TL    ICRA B      20
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Pavansut Paper Mill Pvt. Ltd.          FB TL                ICRA BB-    40.4   Reaffirmed
                                                            (Stable)
Pavansut Paper Mill Pvt. Ltd.          FB CC                ICRA BB-    85     Reaffirmed
                                                            (Stable)
Pavansut Paper Mill Pvt. Ltd.          Unallocated          ICRA BB-    29.6   Reaffirmed
                                                            (Stable)/A4
Pooja Jewellers                        LT Fund based/ CC    ICRA D      60
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Priyheer Infrastructures Pvt Ltd       LT FBL               ICRA B      150
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Pyramid Timber Associates Pvt Ltd      LT-CC                ICRA BB     45     Reaffirmed
                                                            (Stable)
Pyramid Timber Associates Pvt Ltd      LT- TL               ICRA BB     4.1    Reaffirmed
                                                            (Stable)
Pyramid Timber Associates Pvt Ltd      LT/ST- Unallocated   ICRA BB     0.9    Reaffirmed
                                                            (Stable)/A4+
R.V. Rayanam                           LT- Secured OverdraftICRA B+     100    Review
                                                            (Stable)           process
                                                                               under way
R.V. Rayanam                           LT- BG               ICRA B+     300    Review
                                                            (Stable)           process
                                                                               under way
Satya Microcapital Ltd.                NCD Programme        ICRA BBB-   25     Assigned
                                                            (Stable)
Satya Microcapital Ltd.                Tier-II Bonds        ICRA BBB-   250    outstanding
                                       Programme            (Stable)
Satya Microcapital Ltd.                Bk Lines             ICRA BBB-   3500   outstanding
                                                            (Stable)
Satya Microcapital Ltd.                NCD Programme        ICRA BBB-   2630   outstanding
                                                            (Stable)
Satya Microcapital Ltd.                Sub-debt             ICRA BBB-   200    outstanding
                                                            (Stable)
Satya Microcapital Ltd.                LT- Market Linked    PP-MLD ICRA 150    outstanding
                                       Debenture            BBB- (Stable)
Scorpios Apparels Pvt Ltd              LT/ST – Unallocated  ICRA BB/A4+ 167.3  Reaffirmed
outlook revised from Stable to Negative
Seasons Healthcare Ltd                 Fund Based CC Limits ICRA B+     30
                                                            (Stable)
Downgraded from ICRA BB- (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Seasons Healthcare Ltd                 Fund Based TL Limits ICRA B+     6
                                                            (Stable)
Downgraded from ICRA BB- (Stable) and continues to remain in the ‘Issuer Not Cooperating’
category
Seasons Healthcare Ltd                 Unallocated Limits   ICRA B+     13.2
                                                            (Stable)/A4
Rating downgraded from ICRA BB- (Stable)/A4 and continues to remain in the ‘Issuer Not
Cooperating’ category
Shanti Gopal Concast Ltd               LT CC                ICRA B      250
                                                            (Stable)
Rating continue to remain in ‘Issuer Not Cooperating’ category
Shanti Gopal Concast Ltd               LT-TL                ICRA B      150
                                                            (Stable)
Rating continue to remain in ‘Issuer Not Cooperating’ category
Shreedhar Milk Foods Ltd               NCDs (NCD)           ICRA D      200
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Skd Realty Llp                         LT fundbased limit-TLICRA B+     250
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Som Projects Pvt. Ltd.                 Fund Based/ CC       ICRA BBB    210    Assigned
                                                            (Stable)
Som Projects Pvt. Ltd.                 Unallocated          ICRA BBB    542.5  Assigned
                                                            (Stable)/A3+
Sree Akkamamba Textiles Ltd            FB facility          ICRA BB+    270
Reaffirmed, outlook revised to Negative from Stable
Sree Akkamamba Textiles Ltd            TL                   ICRA BB+    50
Reaffirmed, outlook revised to Negative from Stable
Sri Uma Jewellers India Pvt Ltd        LT - Fund Based/ CC  ICRA D      100
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sri Uma Jewellers India Pvt Ltd        LT - Unallocated     ICRA D      15
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sunil Industries                       Fund based – CC LimitICRA B+     70
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Sunil Industries                       Fund based – TL LimitICRA B+     2.5
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Swastik Traders                        LT Fund based/CC     ICRA B+     30
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Swastik Traders                        LT Nonfund based     ICRA B+     30
                                                            (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Taj Agro Industries Llp                Fund based -CC       ICRA B+     100
                                                            (Stable)
Rating Continues to remain under Issuer Not Cooperating category
Tata Elxsi Ltd                         Fund based/ CC       ICRA AA     450    Review
                                                            (Stable)           process is
                                                                               underway
Triton Hotels & Resorts Pvt Ltd        FB Bk Fac (TL)       ICRA BBB+   1147.1
                                                            (Negative)
Triton Hotels & Resorts Pvt Ltd        Non-FB Bk Fac (BG)   ICRA BBB+   32
                                                            (Negative)
V-Access India Pvt. Ltd.               Issuer Rating        ICRA BBB-          Reaffirmed
                                                            (Stable)
Zaveri Exports Pvt Ltd                 LT - Fund Based/ CC  ICRA B-     130
                                                            (Stable)
Rating continue to remain under the ‘Issuer Not Cooperating’ category
Gokul Cotton Industries                CC                   ICRA B+     90     Issuer Not
                                                            (Stable)           Cooperating
Gokul Cotton Industries                Unallocated Limits   ICRA B+     110    Issuer Not
                                                            (Stable)           Cooperating
M R Steel Corporation                  BLR                  ICRA BB-    80     Issuer Not
                                                            (Stable)/          Cooperating
                                                            ICRA A4
Malik Motors Pvt Ltd                   BLR                  ICRA B      150    Issuer
                                                            (Stable)           delayed in
                                                                               giving
                                                                               information
R N Enterprises                        BLR                  ICRA B+     150    Issuer
                                                            (Stable)           delayed in
                                                                               giving
                                                                               information
Shodhana Laboratories Ltd              BLR                  ICRA A-     104.5  Issuer
                                                            (Stable)/          delayed in
                                                                               giving
                                                                               information
Tirupati Cotton-Dwarka                 CC                   ICRA        45     Issuer Not
                                                            B(Stable)          Cooperating
Tirupati Cotton-Dwarka                 TL                   ICRA        15     Issuer Not
                                                            B(Stable)          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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