May 11, 2020 / 9:08 AM / 15 days ago

RPT-ICRA ratings for Indian debt instruments-May 11

 (Repeating to add additional ratings)
    May 11 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of May 8, 2020.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Accelerated Freeze Drying Co.           ST – FB               ICRA A3      415     Reaffirmed
Ltd
Accelerated Freeze Drying Co.           ST – Non-fund Based   ICRA A3      434     Reaffirmed
Ltd
Bondada Engineering Pvt Ltd             Non Fund based        ICRA A3+     50      Reaffirmed
Cpc Diagnostics Pvt Ltd                 Non-fund based        ICRA A3      -       Reaffirmed
                                        facility - Sublimit
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2(CE)  -       Downgraded
                                                                                   from ICRA
                                                                                   A2+(CE)
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2(CE)  900     Downgraded
                                                                                   from ICRA
                                                                                   A2+(CE)
Hyundai Steel India Pvt Ltd             FB Fac                ICRA A3      -       Downgraded
                                                                                   from ICRA A3+
Indian Terrain Fashions Ltd             ST FB Working Capital ICRA A2+     115     Reaffirmed
                                        Fac
Indian Terrain Fashions Ltd             ST non-FB Working     ICRA A2+     80      Reaffirmed
                                        Capital Fac
Kotak Securities Ltd                    CP                    ICRA A1+     40000   Reaffirmed
Natural Remedies Pvt Ltd                ST – Non-Fund based   ICRA A1      20      Reaffirmed
Natural Remedies Pvt Ltd                ST – Interchangeable  ICRA A1      -       Reaffirmed
Suprajit Engineering Ltd                Non-fund Based –      ICRA A1+     15      Reaffirmed
                                        Working Capital Fac
Vvc Motors Pvt. Ltd                     ST – Non-fund Based   ICRA A3+     50      Reaffirmed

LONG TERM RATINGS:
-------------------
Accelerated Freeze Drying Co.           LT – FB               ICRA BBB-    -       Reaffirmed
Ltd                                                           Stable
Ald Automotive Pvt Ltd                  LT FB Bk Lines        ICRA         10233   Reaffirmed
                                                              AAA(CE)
                                                              Stable
Ald Automotive Pvt Ltd                  LT Non-fund Based Bk  ICRA         50      Reaffirmed
                                        Lines                 AAA(CE)
                                                              Stable
Ald Automotive Pvt Ltd                  LT FB Bk Lines        ICRA         539.5   Reaffirmed
                                                              AAA(CE)
                                                              Stable
provisional rating confirmed as final
Ald Automotive Pvt Ltd                  LT FB/Non-fund Based  ICRA         677.5   Reaffirmed
                                        Bk Lines - UnallocatedAAA(CE)
                                                              Stable
provisional rating confirmed as final
Bondada Engineering Pvt Ltd             Fund based – CC       ICRA BBB     145     Reaffirmed
                                                              Stable
Bondada Engineering Pvt Ltd             Fund based – TL       ICRA BBB     42.1    Reaffirmed
                                                              Stable
Bondada Engineering Pvt Ltd             Unallocated           ICRA BBB     12.9    Reaffirmed
                                                              Stable/
                                                              ICRA A3+
Cpc Diagnostics Pvt Ltd                 CC                    ICRA BBB-    165     Reaffirmed
                                                              Stable
outlook revised to Stable from Positive
Cpc Diagnostics Pvt Ltd                 TL                    ICRA BBB-    52.5    Reaffirmed
                                                              Stable
outlook revised to Stable from Positive
Hyundai Steel India Pvt Ltd             FB sub-limits         ICRA         -       Downgraded
                                                              BBB+(CE)             from ICRA A-
                                                              /Negative / ICRA
A2(C(CE)/Negative/ICRA A2+(CE)
Indian Terrain Fashions Ltd             Unallocated limits    ICRA A-      105     Reaffirmed
                                                              (Negative)/
                                                              ICRA A2+
outlook revised to Negative from Stable
Indian Terrain Fashions Ltd             LT FB Working Capital ICRA         300     Reaffirmed
                                        Fac                   A-(Negative)
outlook revised to Negative from Stable
Kotak Securities Ltd                    NCDs                  ICRA         500     Assigned
                                                              AAAStable
Kotak Securities Ltd                    LT FB Bk Lines        ICRA         15000   Reaffirmed /
                                                              AAAStable            Assigned
Kotak Securities Ltd                    LT Non-fund Based Bk  ICRA         6000    Reaffirmed /
                                        Lines                 AAAStable            Assigned
Kotak Securities Ltd                    Optionally            ICRA         -       Withdrawn
                                        Convertible DebenturesAAAStable
Manappuram Finance Ltd-Vivriti          PTC Series A1         Provisional  -       Withdrawn
Desmond 12 2019                                               ICRA AAA
                                                              (SO)
Natural Remedies Pvt Ltd                LT – FB – CC          ICRA AStable 650     Reaffirmed
Natural Remedies Pvt Ltd                LT – FB – TL          ICRA AStable 60      Reaffirmed
Prestige Exora Business Parks           TL                    ICRA A+(CE)  9013    Reaffirmed
Ltd                                                           Stable
Suprajit Engineering Ltd                Fund Based – TL       ICRA AA      400     Reaffirmed
                                                              Stable
Suprajit Engineering Ltd                Fund Based – Working  ICRA AA      2326.5  Reaffirmed
                                        Capital Fac           Stable
Tril Infopark Ltd                       TL                    ICRA AA-     28000   Reaffirmed
                                                              Stable
Tril Infopark Ltd                       BG                    ICRA AA-     1500    Reaffirmed
                                                              Stable
Vsp Industries Pvt Ltd                  LT FB – TL            ICRA         340     Outstanding
                                                              A+(Stable)
Vvc Motors Pvt. Ltd                     LT / ST – Unallocated -            -       -
Vvc Motors Pvt. Ltd                     LT – FB/ CC           ICRA BBB     350     Reaffirmed
Outlook revised to Negative from Stable
Eurotex Industries And Exports Ltd      Bk loans              ICRA D/     840     Review process
                                                              ICRA D      131.5   is underway
Pandoul Flour Mills Pvt Ltd             Bk Fac                ICRA BB- (Stable)/  Issuer not
                                                              ICRA A4             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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