July 8, 2020 / 7:34 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jul 8

 (Repeating to add additional ratings)
    Jul 8 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of July 7, 2020.

COMPANY                                 INSTRUMENT          RATING      AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------          ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Admin Vitrified Pvt. Ltd.              Non-fund Based – BG  ICRA A4     20     Withdrawn
Autocomp Corporation Panse Pvt Ltd     ST - Non-fund based  ICRA A3+    270    Reaffirmed
Commercial Automobiles Pvt Ltd         Fund Based           ICRA A4     509.8
revised from ICRA A4+
Contemporary Brokers Pvt Ltd           FB Limits – Short-TL ICRA A3+    40     Reaffirmed
Kaveri Plasto Containers Pvt Ltd       ST – Interchangeable ICRA A4+           Withdrawn
Mariya Ship Breaking Pvt. Ltd          Non-fund Based LOC   ICRA A4     310    Reaffirmed
Mechemco Resins Pvt Ltd                ST FB limits         ICRA A4     50     Reaffirmed
Mechemco Resins Pvt Ltd                ST FB limits         ICRA A4     60     Reaffirmed
Mil Steel And Power Ltd                ST- NonFund Based    ICRA A4     40     Issuer
                                                                               delayed in
                                                                               giving
                                                                               information
Moflex Suspensions Llp                 Non-fund Based - BG  ICRA A2+    7.5    Reaffirmed
Motherson Sumi Systems Ltd             CP/STD programme     ICRA A1+    1500
Premier Explosives Ltd                 ST Non-Fund based    ICRA A2+    2000   Reaffirmed
Premier Explosives Ltd                 ST Fund based - sub  ICRA A2+           Reaffirmed
                                       limit
Premier Explosives Ltd                 ST Non-Fund based -  ICRA A2+           Reaffirmed
                                       sub limit
Racy Sanitary Wares                    Non-fund based - BG  ICRA A4     8      Reaffirmed
Rajasthan Tube Manufacturing Co. Ltd   Non-fund Based       ICRA A4     122.5
Rating Continues to remain under the ‘Issuer Not Cooperating’ category; Issuer did not
cooperate; based on best available information
Rushil Industries Ltd                  Non-fund based – LOC ICRA A4+    654    Reaffirmed
Rushil Industries Ltd                  Non-fund based –     ICRA A4+    13.1   Reaffirmed
                                       Forex Exposure Limit
Shalimar Hatcheries Ltd                Non-fund based – BG  ICRA A1     47.1   Reaffirmed
Shalimar Hatcheries Ltd                Non-fund based –     ICRA A1            Reaffirmed
                                       LOC/Trade Credit BG
Shalimar Nutrients Pvt Ltd             Non-fund based – BG  ICRA A1     20     Reaffirmed
Shalimar Nutrients Pvt Ltd             Non-fund based – LOC ICRA A1            Reaffirmed
Shalimar Pellet Feeds Ltd              Non-fund based – BG  ICRA A1     21     Reaffirmed
Shalimar Pellet Feeds Ltd              Non-fund based –     ICRA A1     20     Reaffirmed
                                       Forward contract limit
Shalimar Pellet Feeds Ltd              Non-fund based – LOC ICRA A1            Reaffirmed
Som Distilleries & Breweries Ltd       Non-fund Based       ICRA A2     180
revised from ICRA A2+
Tata Motors Finance Ltd                CP Programme         ICRA A1+    80000  Assigned
Tractebel Engineering Pvt Ltd          Non-fund Based - BGs ICRA A2+    452.9
reaffirmed, rated amount enhanced
Variety Lumbers Pvt Ltd                Non-FB Import LOC cumICRA A4     200    Reaffirmed
                                       Buyers Credit
Vikrant Auto Suspensions               Non-Fund Based-BG#   ICRA BBB+          Reaffirmed
                                                            and ICRA A2+
outlook revised to Negative from Stable; #Sublimit of CC facility
Vikrant Auto Suspensions               Unallocated Limits   ICRA BBB+   30     Reaffirmed
                                                            and ICRA A2+
outlook revised to Negative from Stable
Lagnam Spintex Ltd                     ST FB Limit          ICRA A4+    20     Downgraded
                                                                               from ICRA A3
Lagnam Spintex Ltd                     ST Non-FBL           ICRA A4+    58     Downgraded
                                                                               from ICRA A3

LONG TERM RATINGS:
-------------------
Admin Vitrified Pvt. Ltd.              FB - TL              ICRA B+     200    Withdrawn
                                                            (Stable)
Admin Vitrified Pvt. Ltd.              FB - CC^             ICRA B+     80     Withdrawn
                                                            (Stable)
^Export bill negotiation (EBN) limit of Rs. 1.85 crore as a sublimit of the cash credit limit
Aurigene Pharmaceutical Services Ltd   NCD                  ICRA AA+    3800   provisional
                                                            (CE) (Stable)      rating
                                                                               confirmed as
                                                                               final
Aurigene Pharmaceutical Services Ltd   Rating Without       ICRA BBB+
                                       Explicit Credit
                                       Enhancement
Aurigene Pharmaceutical Services Ltd   Proposed NCD         Provisional        Withdrawn
                                                            ICRA AA+
                                                            (CE) (Stable)
Autocomp Corporation Panse Pvt Ltd     LT – Fund Based / TL ICRA BBB    504.9  Reaffirmed
                                                            (Stable)
Autocomp Corporation Panse Pvt Ltd     LT – Fund Based / CC ICRA BBB    760    Reaffirmed
                                                            (Stable)
Autocomp Corporation Panse Pvt Ltd     LT – Unallocated     ICRA BBB    296.5  Reaffirmed
                                                            (Stable)
Bindu Recepies Pvt Ltd                 NCDs                 ICRA BB     250    outstanding
                                                            (Stable)
C. L. Enterprises Pvt. Ltd.            Fund based – TL      ICRA A      80     Assigned
                                                            (Negative)
C. L. Enterprises Pvt. Ltd.            Fund based – CC Fund ICRA A      130    Assigned
                                       based – TL           (Negative)
Clix Capital Services Pvt Ltd- Pl      PTC Series A1        Provisional 223.3  Assigned
Haddock June 2020                                           ICRA AA (SO)
Comet Technocom Pvt Ltd                FB- SODH             ICRA BB     65     Reaffirmed
                                                            (Stable)
Comet Technocom Pvt Ltd                Non-fund based BG    ICRA BB     2.5    Reaffirmed
                                                            (Stable) /
                                                            ICRA A4
Commercial Automobiles Pvt Ltd         Fund Based - CC      ICRA BB-    72.8
                                                            (Negative)
revised from ICRA BB (Negative)
Commercial Automobiles Pvt Ltd         Fund Based - TL      ICRA BB-
                                                            (Negative)
revised from ICRA BB (Negative)
Commercial Automobiles Pvt Ltd         Unallocated          ICRA BB-    143.3
                                                            (Negative)
revised from ICRA BB (Negative)
Contemporary Brokers Pvt Ltd           FB Limits – CC       ICRA BBB    160    Reaffirmed
                                                            (Stable)
Contemporary Brokers Pvt Ltd           FB Limits – Untied   ICRA BBB    20     Reaffirmed
                                       Limits               (Stable)
Indiabulls Housing Finance Ltd-        PTC Series A         Provisional 2976.9 Assigned
Innovation Trust Xxxviii June’20                            ICRA AAA (SO)
Kaveri Plasto Containers Pvt Ltd       LT – Fund based CC   ICRA BB     50     Withdrawn
                                                            (stable)
Kaveri Plasto Containers Pvt Ltd       LT – Fund Based TL   ICRA BB     61.8   Withdrawn
                                                            (Stable)
Manoj Vaibhav Gems 'N' Jewellers Pvt   CC                   ICRA BBB    3844.5 Reaffirmed
Ltd (Erstwhile Vaibhav Empire Pvt Ltd)
outlook revised to Negative from Stable -
Manoj Vaibhav Gems 'N' Jewellers Pvt   Unallocated Limits   ICRA BBB    205.5  Reaffirmed
Ltd (Erstwhile Vaibhav Empire Pvt Ltd)
outlook revised to Negative from Stable
Mariya Ship Breaking Pvt. Ltd          FB CC                ICRA BB-    40     Reaffirmed
                                                            (Stable)
Mechemco Resins Pvt Ltd                LT FB limits         ICRA BB-    135    Reaffirmed
                                                            (Stable)
Mil Steel And Power Ltd                LT- CC               ICRA B-     61     Issuer
                                                            (Stable)           delayed in
                                                                               giving
                                                                               information
Mil Steel And Power Ltd                LT- TL               ICRA B-     24.2   Issuer
                                                            (Stable)           delayed in
                                                                               giving
                                                                               information
Mil Steel And Power Ltd                LT/ST-Unallocated    ICRA B-     62.1   Issuer
                                                            (Stable)/          delayed in
                                                            ICRA A4            giving
                                                                               information
Moflex Suspensions Llp                 Fund Based - CC      ICRA BBB+   120
Reaffirmed; outlook revised to Negative from Stable
Moflex Suspensions Llp                 Fund Based - EPC/FBD#ICRA BBB+
Reaffirmed; outlook revised to Negative from Stable; #Sublimit of CC facility
Moflex Suspensions Llp                 Fund Based - TL      ICRA BBB+   45
Reaffirmed; outlook revised to Negative from Stable
Motherson Sumi Systems Ltd             TL                   ICRA AA+ @  11082.7@Rating on
                                                                               watch with
                                                                               negative
                                                                               implications
Motherson Sumi Systems Ltd             FB Fac               ICRA AA+ @/ 6000   @Rating on
                                                            ICRA A1+           watch with
                                                                               Negative
                                                                               implications
Motherson Sumi Systems Ltd             Non-fund based Bk FacICRA AA+ @/ 1000   @Rating on
                                                            ICRA A1+           watch with
                                                                               Negative
                                                                               implications
Mtar Technologies Pvt. Ltd.            LT - Fund Based/ CC  ICRA BBB    580    Reaffirmed
                                                            (Stable)
Mtar Technologies Pvt. Ltd.            LT – Fund Based TL   ICRA BBB    58     Assigned
                                                            (Stable)
Mtar Technologies Pvt. Ltd.            LT - Unallocated     ICRA BBB    262    Assigned
                                                            (Stable)
Mtar Technologies Pvt. Ltd.            LT/ST -Non Fund BasedICRA BBB    1100   Reaffirmed
                                                            (Stable)/
                                                            ICRA A3+
Poonam Grah Nirman (Pvt) Ltd.          FB Working Capital   ICRA B-     120    Reaffirmed
                                       Fac                  (Stable)
Poonam Grah Nirman (Pvt) Ltd.          Non-FBL – BG         ICRA B-     47     Reaffirmed
                                                            (Stable) /
                                                            ICRA A4
Poonam Grah Nirman (Pvt) Ltd.          Untied Limits        ICRA B-     3      Reaffirmed
                                                            (Stable) /
                                                            ICRA A4
Premier Explosives Ltd                 LT Fund based -TL    ICRA A-     197.2
re-affirmed; outlook revised to Negative from Stable
Premier Explosives Ltd                 LT Fund based        ICRA A-     300
re-affirmed; outlook revised to Negative from Stable
Premier Explosives Ltd                 LT Fund based – sub  ICRA A-
                                       limit
re-affirmed; outlook revised to Negative from Stable
Premier Explosives Ltd                 LT/ ST fund based    ICRA A- /   100
                                                            ICRA A2+
outlook revised to Negative from stable
Premier Explosives Ltd                 LT/ ST Unallocated   ICRA A- /   50
                                                            ICRA A2+
outlook revised to Negative from stable
Racy Sanitary Wares                    Fund Based - CC      ICRA B+     50     Reaffirmed
                                                            (Stable)
Racy Sanitary Wares                    Fund Based - TL      ICRA B+     43.4   Reaffirmed
                                                            (Stable)
Racy Sanitary Wares                    Unallocated Limits   ICRA B+     11.1   Reaffirmed
                                                            (Stable)/ A4
Rajasthan Tube Manufacturing Co. Ltd   CC                   ICRA C      200
revised from ICRA B (Stable); Rating Continues to remain under the ‘Issuer Not Cooperating’
category; Issuer did not cooperate; based on best available information
Rushil Industries Ltd                  FB - CC-sublimit to  ICRA BB            Reaffirmed
                                       LOC                  (Stable)
Shalimar Hatcheries Ltd                Fund based – TL      ICRA A      222.9
reaffirmed, Outlook revised to Negative from Stable
Shalimar Hatcheries Ltd                Fund based – CC      ICRA A      300
reaffirmed, Outlook revised to Negative from Stable
Shalimar Nutrients Pvt Ltd             Fund based – TL      ICRA A      37.1   Reaffirmed
outlook revised to Negative from Stable
Shalimar Nutrients Pvt Ltd             Fund based – CC      ICRA A      700    Reaffirmed
outlook revised to Negative from Stable
Shalimar Nutrients Pvt Ltd             Fund based – Packing ICRA A             Reaffirmed
                                       credit/Bill
                                       discounting/Foreign bill discounting
outlook revised to Negative from Stable
Shalimar Nutrients Pvt Ltd             Untied limits        ICRA A      42.9   Reaffirmed
outlook revised to Negative from Stable
Shalimar Pellet Feeds Ltd              Fund based – CC      ICRA A      650    Reaffirmed
outlook revised to Negative from Stable
Shree Balaji Plastic                   FB TL                ICRA B+     0.5    Assigned
                                                            (Stable)
Shree Balaji Plastic                   FB Working Capital   ICRA B+     13     Assigned
                                       Fac                  (Stable)
Som Distilleries & Breweries Ltd       Fund Based - Working ICRA BBB+   280
                                       Capital              (Negative)
outlook revised from Stable
Som Distilleries & Breweries Ltd       Fund Based - TL      ICRA BBB+   603.2
                                                            (Negative)
outlook revised from Stable
Som Distilleries & Breweries Odisha PvtFund Based - Working ICRA BBB+   100
Ltd                                    Capital              (Negative)
outlook revised from Stable
Som Distilleries & Breweries Odisha PvtFund Based - TL      ICRA BBB+   200
Ltd                                                         (Negative)
outlook revised from Stable
Sona Vets Pvt Ltd                      Fund based – CC      ICRA A      300    Reaffirmed
outlook revised to Negative from Stable
Tata Motors Finance Ltd                Perpetual Debt       ICRA A      14150  outstanding
                                       Programme            (Negative)
Tata Motors Finance Ltd                Bk lines programme   ICRA AA-    276320 outstanding
                                                            (Negative)
Tata Motors Finance Ltd                NCDs                 ICRA AA-    69580  outstanding
                                                            (Negative)
Tractebel Engineering Pvt Ltd          FB - Working Capital ICRA A-     747.1
                                       Fac                  (Stable)
reaffirmed, rated amount enhanced
Variety Lumbers Pvt Ltd                FB CC                ICRA B-     20     Reaffirmed
                                                            (Stable)
Venkata Sai Agro Industries            FB –CC               ICRA B+     100    Assigned
                                                            (Stable)
Vikrant Auto Suspensions               Fund Based-CC        ICRA BBB+   90     Reaffirmed
outlook revised to Negative from Stable
Vikrant Auto Suspensions               Fund Based-EPC/FBD#  ICRA BBB+          Reaffirmed
outlook revised to Negative from Stable; #Sublimit of CC facility
Visura (India) Ltd                     LT – FB              ICRA B+     260    Reaffirmed
                                                            (Stable)
Visura (India) Ltd                     LT/ST–Non-fund based ICRA B+     75     Reaffirmed
                                                            (Stable)/
                                                            ICRA A4
Visura (India) Ltd                     LT/ST – Unallocated  ICRA B+     70     Reaffirmed
                                                            (Stable)/
                                                            ICRA A4
Woodpecker Distilleries & Breweries PvtFund Based - Working ICRA BBB+   250
Ltd                                    Capital              (Negative)
outlook revised from Stable
Woodpecker Distilleries & Breweries PvtFund Based - TL      ICRA BBB+   250
Ltd                                                         (Negative)
outlook revised from Stable
Woodpecker Distilleries & Breweries PvtUnallocated          ICRA BBB+   150
Ltd                                                         (Negative)/
                                                            A2
Short term rating revised from ICRA A2+
Lagnam Spintex Ltd                     LT FB Limit          ICRA BB+    1656   Downgraded
                                                            (Negative)         from ICRA
                                                                               BBB- (Negative)
Menoka Tea Estate Pvt Ltd              FB Limits – Working  ICRA B      49.8   Assigned
                                       capital              (Stable)
Menoka Tea Estate Pvt Ltd              FB Limits –Overdraft ICRA B      16     Assigned
                                       Limit                (Stable)
Menoka Tea Estate Pvt Ltd              Untied Limits        ICRA B      56.3   Assigned
                                                            (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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