June 18, 2020 / 11:32 AM / 19 days ago

RPT-ICRA ratings for Indian debt instruments-Jun 18

 (Repeating to add additional ratings)
   Jun 18 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of June 17, 2020.


COMPANY                                INSTRUMENT           RATING      AMOUNT MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Deepak Nitrite Ltd                     Non-FBL              ICRA A1+    1700   Reaffirmed
Deepak Nitrite Ltd                     CP                   ICRA A1+    2000   Reaffirmed
Kayem Food Industries Pvt Ltd          Non-FBL              ICRA A4 &   60     -
(rating removed from ‘Issuer Not Cooperating’ category and placed on watch with developing
implications. 
&- on watch with developing implications.)
Shiga Energy Pvt Ltd:                  ST Non Fund Based    ICRA D      49.5   -
(Rating downgraded from ICRA A4 and continues to remain under ‘Issuer Not Cooperating’ category)
Merit Technologies India Ltd           ST – Non Fund Based –ICRA A4+    160    Issuer yet
                                       BG                                      to provide
                                                                               information
Nahar Capital And Financial Services LtCP Programme         ICRA A1+    250    Review
                                                                               process is
                                                                               underway
S.K.T.Textile Mills                    ST – Non Fund Based  ICRA A3     2.5    Issuer yet
                                       Facility                                to provide
                                                                               information
S.K.T.Textile Mills                    ST – Fund Based      ICRA A3            Issuer yet
                                       Facility - Sublimit                     to provide
                                                                               information

LONG TERM RATINGS:
-------------------
Deepak Nitrite Ltd                     TL                   ICRA AA-    2770   Reaffirmed
(outlook revised to Positive from Stable)
Deepak Nitrite Ltd                     FBL                  ICRA AA-    3000   Reaffirmed
(outlook revised to Positive from Stable)
Deepak Nitrite Ltd                     Fund and Non-FBL     ICRA AA-/A1+ 2000  Reaffirmed
(outlook revised to Positive from Stable)
Kayem Food Industries Pvt Ltd          FBL                  ICRA BB &   185    -
(rating removed from ‘Issuer Not Cooperating’ category; Stable outlook removed, and rating
placed on watch with developing implications. 
&- on watch with developing implications.)
Kayem Food Industries Pvt Ltd          TL                   ICRA BB &   2274.5 -
(rating removed from ‘Issuer Not Cooperating’ category; Stable outlook removed, and rating
placed on watch with developing implications. 
&- on watch with developing implications.)
Kayem Food Industries Pvt Ltd          Unallocated Limits   ICRA BB &   80.5   -
(rating removed from ‘Issuer Not Cooperating’ category; Stable outlook removed, and rating
placed on watch with developing implications. 
&- on watch with developing implications.)
Mtar Technologies Pvt. Ltd             FB/ CC               ICRA BBB    580    -
                                                            (Stable)
(Upgraded from ICRA BBB-(Stable))
Mtar Technologies Pvt. Ltd             Unallocated          ICRA BBB    800    -
                                                            (Stable) /
                                                            ICRA A3+
(Upgraded from ICRA BBB-(Stable)/ICRA A3)
Mtar Technologies Pvt. Ltd             Non-fund Based       ICRA BBB    100    -
                                                            (Stable) /
                                                            ICRA A3+
(Upgraded from ICRA BBB-(Stable)/ICRA A3)
Shiga Energy Pvt Ltd:                  LT/ST Non Fund Based ICRA D      450.5  -
(Rating downgraded from ICRA B (Stable)/ICRA A4 and continues to remain under ‘Issuer Not
Cooperating’ category)
Sunglow Suitings Pvt Ltd               LT – FB Limits       ICRA B+     247.3  -
                                                            (Stable)
(Rating downgraded from ICRA BB-(Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Merit Technologies India Ltd           LT – Fund Based – CC ICRA        10     Issuer yet
                                                            BB(Stable)         to provide
                                                                               information
S.K.T.Textile Mills                    LT – TL              ICRA        106.5  Issuer yet
                                                            BBB-(Stable)       to provide
                                                                               information
S.K.T.Textile Mills                    LT – CC              ICRA        210    Issuer yet
                                                            BBB-(Stable)       to provide
                                                                               information
S.K.T.Textile Mills                    LT – Unallocated     ICRA        17.2   Issuer yet
                                       Facility             BBB-(Stable)       to provide
                                                                               information
Sharadha Terry Products Ltd            LT – TL              ICRA        468    Issuer yet
                                                            A+(Stable)         to provide
                                                                               information
Sharadha Terry Products Ltd            LT – Unallocated     ICRA        1172   Issuer yet
                                                            A+(Stable)         to provide
                                                                               information
Sharadha Terry Products Ltd            LT/ ST Fac           ICRA        640    Issuer yet
                                                            A+(Stable)/        to provide
                                                            ICRA A1+           information
The Kadri Mills (Cbe) Ltd              LT – TL              ICRA        90     Issuer yet
                                                            A-(Stable)         to provide
                                                                               information
The Kadri Mills (Cbe) Ltd              LT – Unallocated     ICRA        140    Issuer yet
                                                            A-(Stable)         to provide
                                                                               information
The Kadri Mills (Cbe) Ltd              LT/ST Fac            ICRA        370    Issuer yet
                                                            A-(Stable)/        to provide
                                                            ICRA A2+           information
--------------------------------------------------------------------------------------------
$: 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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