May 4, 2020 / 4:08 PM / a month ago

RPT-ICRA ratings for Indian debt instruments-May 4

 (Repeating to add additional ratings)
   May 4 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of April 30, 2020 and May 1, 2020.


COMPANY                                INSTRUMENT           RATING     AMOUNT  MOVEMENT
                                                                       (RS.MLN)
------                                 ----------           ------      -----  ---------
SHORT TERM RATINGS:
-------------------
Bharat Cottage Industries              LOC (Inland)         ICRA A4     -      -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              LOC (LC)             ICRA A4     20     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              Letter of Guarantee  ICRA A4     2      -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              Buyers Credit (Sub   ICRA A4     -      -
                                       limit of - LC)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Dixon Technologies (India) Ltd         CP                   ICRA A1+    1000   -
(Assigned/outstanding)
Dixon Technologies (India) Ltd         FB - Working Capital ICRA A1+    950    outstanding
                                       Fac
Dixon Technologies (India) Ltd         Non-fund Based -     ICRA A1+    6350   outstanding
                                       Working Capital Fac
                                       (ST scale)
Dixon Technologies (India) Ltd         Interchangeable^     ICRA A1+    2500   outstanding
                                       Working Capital Fac
                                       (ST scale)
(^ between non-fund based and fund based)
Dixon Technologies (India) Ltd         Unallocated Bk Fac   ICRA A1+    453    outstanding
                                       (ST scale)
Emkay Global Financial                 ST Non-fund Based Bk ICRA A2+    2750   -
Services Ltd                           Fac
(Assigned/outstanding)
Jassmine Enterprises                   ST – Fund Based      ICRA D      60     -
(continues to remain under Issuer Not Cooperating category)
Rsal Steel Pvt Ltd                     ST non fund based    ICRA D      2065.5 -
                                       limits
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
First Steps Babywear Pvt Ltd           Fund Based – Working ICRA A1     1650   Assigned
                                       Capital Limits
Globe Capital Market Ltd               CP                   ICRA A1+    500    Reaffirmed
Globe Capital Market Ltd               CP                   ICRA A1+    -      Withdrawn
Godrej Consumer Products Ltd           CP Programme         ICRA A1+    7500   Reaffirmed
Govindegowda And Sons                  ST - Non-Fund Based  ICRA A4     150    -
(Downgraded from ICRA A4+ and moved to the ‘Issuer Not Cooperating’ category)
Haldia Energy Ltd                      CP Programme**       ICRA A1+    4500   Reaffirmed
( ** The rating of the aforementioned instrument is based on the condition that total short-term
borrowings (including commercial paper, short-term debt and bank borrowings) of the company at
any given point of time should not exceed the company’s drawing power or the bank sanctioned
fund-based limits (whichever is lower) ) 
Housing And Urban Development          CP                   ICRA A1+    100000 outstanding
Corporation Ltd.
Housing And Urban Development          Short-TL             ICRA A1+    44399.4outstanding
Corporation Ltd.
Intertex Pvt Ltd                       LOC                  ICRA A4+    1150   Reaffirmed
Jindal Power Ltd                       ST FB                ICRA A3+    250    -
(Downgraded from ICRA A2)
Kayem Food Industries Pvt Ltd          Non-FBL              ICRA A4     60     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Lumax Industries Ltd                   ST FB limits         ICRA A1+    1830   outstanding
Lumax Industries Ltd                   ST non-FBL           ICRA A1+    1350   outstanding
Lumax Industries Ltd                   CP                   ICRA A1+    500    outstanding
Mridul International Pvt Ltd           ST – Fund Based      ICRA A4     190    -
( Rating downgraded from ICRA A4+ and continue to remain under ‘Issuer Not Cooperating’)
Mridul International Pvt Ltd           ST – Non Fund Based  ICRA A4     48.7   -
( Rating downgraded from ICRA A4+ and continue to remain under ‘Issuer Not Cooperating’
category)
Muthoot Homefin (India) Ltd            CP Programme         ICRA A1+    5000   Reaffirmed
Navdanya Foods Pvt Ltd                 Non-fund based -     ICRA A4     25     -
                                       Letter of guarantee
                                       Previously Rated
(Rating moved to the ‘Issuer Not Cooperating’ category Rating Action)
R.D. Tea Ltd                           Non-FBL              ICRA A4     7      Withdrawn
Reitzel India Pvt Ltd                  ST - Fund based      ICRA A3     290    Reaffirmed
Reitzel India Pvt Ltd                  ST - Non-Fund based  ICRA A3     95     Reaffirmed
Reliance Industries Ltd                CP                   ICRA A1+    100000 Reaffirmed
Sap Industries                         FB Fac               ICRA A4     5      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sap Industries                         Non FB facility      ICRA A4     52.5   -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Seeds & Grains India Pvt Ltd           ST - FB Packing Credit ICRA A4   430    Reaffirmed
Seeds & Grains India Pvt Ltd           ST - Non-fund Based BICRA A4     25     Reaffirmed
Shree Durga Iron And Steel Co.         LOC                  ICRA A4;    250    Reaffirmed
Ltd
Shri Madhusudan Dyeing And             ST – Interchangeable ICRA A4     -      -
Printing Mills Pvt Ltd
(Downgraded from ICRA A4+ and continues to remain under ‘Issuer Not Cooperating’ category)
Shri Madhusudan Rayons Pvt Ltd         ST - Non-Fund Based  ICRA A4     0.4    -
(Rating downgraded from ICRA A4+ and continues to remain under ‘Issuer Not Cooperating’ category
)
Shri Madhusudan Rayons Pvt Ltd         ST – Interchangeable ICRA A4     -      -
(Rating downgraded from ICRA A4+ and continues to remain under ‘Issuer Not Cooperating’ category
)
Swelect Energy Systems Ltd             ST – Non-Fund based  ICRA A2+    350    Reaffirmed
Swelect Energy Systems Ltd             ST – Sub Limit Fac **ICRA A2+    -      Reaffirmed
(** Sublimit of Rs. 50-crore long-term fund-based facilities )
Tata Steel Downstream Products         Tata Steel Downstream ICRA A1+    950    -
Ltd                                    Proptionally
                                       convertible debentureucts Limited 
(Reason for delay in carrying out periodic review: - Review Process Underway )
Coastal Energen Pvt Ltd                ST Non-fund Based    ICRA D      400    Reaffirmed
Tata Steel Downstream Products         Tata Steel Downstream ICRA A1+    2000   -
Ltd                                    Proptionally
                                       convertible debentureucts Limited 
(Reason for delay in carrying out periodic review: - Review Process Underway )
Umiya Industries                       ST, NonFund Based    ICRA A4     30     -
                                       LOC/Buyers Credit
                                       Limits
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Vareli Tecnac Pvt Ltd                  Non Fund Based - BG  ICRA A4     100    -
(Rating continues to remain under ‘Issuer Not Cooperating’ )
Varroc Engineering Ltd                 CP                   ICRA A1+@   1000   -
(Rating placed on watch with negative implications)
Varroc Polymers Pvt Ltd                CP                   ICRA A1+@   750    -
(Rating placed on watch with negative implications)
Vibracoustic India Pvt Ltd             ST - Fund Based      ICRA A2+    100    -
(Downgraded from ICRA A1+ and moved to the ‘ISSUER NOT COOPERATING’ category)
Vin Mart (H.K.) Ltd                    ST Fund Based and    ICRA A4     182.5  Withdrawn
                                       Non-FBL - General
                                       Line of Credit
Wheels India Ltd                       CP                   ICRA A1+    1000   Reaffirmed
Wheels India Ltd                       ST -Non-FB Fac       ICRA A1+    1500   Reaffirmed
Dmi Finance Pvt Ltd                    CP                   ICRA A1+    3000
Review process is underway

MEDIUM TERM RATINGS:
-------------------
Bank Of India                          Term Deposit         MAA+        -      Reaffirmed
                                       Programme            (Stable)
Shiva Global Agro Industries           Medium Term - Fixed  MB- (Stable) 20    -
Ltd                                    Deposit
(Rating downgraded from MB+(Stable) Rating continues to remain in the ‘Issuer Not Cooperating’
category)
Wheels India Ltd                       Medium Term: Fixed   MA+         1500   Reaffirmed
                                       deposit              (Negative)

LONG TERM RATINGS:
-------------------
Ahmedabad Maliya Tollway Ltd           NCD (NCD)            ICRA AA(CE) 1750   Reaffirmed
                                                            (Stable)
(outlook revised from Positive to stable)
Ascent Hotels Pvt Ltd                  FB Bk Fac (Term Loan)ICRA BBB-   2205   outstanding
                                                            (Negative)
Ashoka Developers                      LT: Fund based – TL  ICRA BB-    100    Withdrawn
                                                            (Stable)
(ISSUER NOT COOPERATING)
Asian Lakto Industries Ltd             LT – FBL             ICRA        130    Withdrawn
                                                            B+(Stable)
(ISSUER NOT COOPERATING)
Asianlak Health Foods Ltd.             Fund based – TL      ICRA        30     Withdrawn
                                                            B+(Stable)
(ISSUER NOT COOPERATING)
Asianlak Health Foods Ltd.             Fund based – CC      ICRA        70     Withdrawn
                                                            B+(Stable)
(ISSUER NOT COOPERATING)
Banashankari Agro Farms Llp            Fund based- CC       ICRA        158    -
                                                            B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Banashankari Agro Farms Llp            Fund based- TL       ICRA        30     -
                                                            B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Banashankari Agro Farms Llp            Unallocated          ICRA        12     -
                                                            B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Barque Hotels Pvt Ltd                  LT TL                ICRA BBB-   3000   Reaffirmed
(outlook revised to Negative from Stable)
Bda Healthcare Pvt Ltd                 No Default Statement -           -      -
(ICRA has removed its earlier rating of ICRA D from the ‘ISSUER NOT COOPERATING’ category as the
company has now submitted its ‘No Default Statement’ (“NDS”). The company’s rating was moved to
the ‘ISSUER NOT COOPERATING’ category in April 2020. ) 
Bhalara Cotton Pvt Ltd                 FB - CC              ICRA D      220    Withdrawn
Bharat Cottage Industries              CC                   ICRA        90     -
                                                            B-(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              TL/ Working Capital  ICRA        11.8   -
                                       Demand Loan          B-(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              Packing Credit       ICRA        -      -
                                                            B-(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              Foreign Documentary  ICRA        -      -
                                       Bill Purchase (FDBP) B-(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharat Cottage Industries              Unallocated Limits   ICRA        1.2    -
                                                            B-(Stable)/
                                                            ICRA A4
(Rating moved to the ‘Issuer Not Cooperating’ category)
Bharti Axa General Insurance           Subordinated Debt    ICRA        2550   Reaffirmed
Co. Ltd                                Programme            AA-(Stable)
Bharti Axa Life Insurance Co.          Subordinated debt    ICRA        800    Reaffirmed
Ltd                                    programme            AA-(Stable)
Bommineni Ramanjaneyulu                LT -Fund based/CC    ICRA        40     -
                                                            BB-(Stable)
(continues to remain under ‘Issuer not cooperating’ category )
Bommineni Ramanjaneyulu                LT- Non Fund based   ICRA        60     -
                                                            BB-(Stable)
(continues to remain under ‘Issuer not cooperating’ category )
Charoen Pokphand Seeds India           LT – Fund Based/ CC  ICRA BB+    900    -
Pvt Ltd                                                     (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Charoen Pokphand Seeds India           LT – TL              ICRA BB+    300    -
Pvt Ltd                                                     (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Children’S Education Society           Fund Based- TL       ICRA        1600   -
                                                            BBB-(Stable)
(Reason for delay in carrying out periodic review:- Review process is underway )
Children’S Education Society           Fund Based- WC       ICRA        100    -
                                       facility             BBB-(Stable)
(Reason for delay in carrying out periodic review:- Review process is underway )
Coastal Energen Pvt Ltd                TL                   ICRA D     61137.9 Reaffirmed
Coastal Energen Pvt Ltd                CC                   ICRA D      11500  Reaffirmed
Coastal Energen Pvt Ltd                LT Non-fund Based    ICRA D      4652   Reaffirmed
Coastal Energen Pvt Ltd                Unallocated Limit    ICRA D      252.1  Reaffirmed
Dev Cotton & Oil Industries            FB – TL              ICRA B      12.1   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Dev Cotton & Oil Industries            FB – CC              ICRA B      92.5   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Disha Communications Pvt Ltd           Fund Based           ICRA B+     92.5   -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable); Moved to ‘Issuer Not Cooperating’ category )
Disha Communications Pvt Ltd           Non-Fund Based       ICRA B+     6.5    -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable); Moved to ‘Issuer Not Cooperating’ category )
Divya Cotton                           FB - TL              ICRA D      1.2    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Divya Cotton                           FB - CC Term Deposit ICRA D      60     -
                                       Programme
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Dixon Technologies (India) Ltd         FB -TL               ICRA A+     47     outstanding
                                                            (Stable)
Durovalves India Pvt Ltd               TL                   ICRA AA- @  150    -
(Rating placed on watch with negative implications)
Durovalves India Pvt Ltd               FB Fac               ICRA AA-    200    -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Durovalves India Pvt Ltd               Non-FB Fac           ICRA AA-    280    -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Durovalves India Pvt Ltd               FB/ Non-FB Fac       ICRA AA-    120    -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Enviro Solaire Pvt Ltd                 TL                   ICRA A&     3690   -
( & - Under rating watch with developing implications )
Erode Textile Mall Pvt Ltd             Fund Based-LT        ICRA BB     450    -
                                                            (Stable)
(Reason for delay in carrying out periodic review: Issuer Not Cooperating )
Farooq Constructions                   LT - Fund Based      ICRA D      120    -
(Moved to the ‘Issuer Not Cooperating’ category)
First Steps Babywear Pvt Ltd           LT/ST interchangeable ICRA A+ /  -      outstanding
                                                            ICRA A1
First Steps Babywear Pvt Ltd           Fund Based - TL      ICRA A+     26     outstanding
                                                            (Negative)
First Steps Babywear Pvt Ltd           Fund Based – CC      ICRA A+     400    Assigned
                                                            (Negative)
Globe Capital Market Ltd               LT Bk Lines          ICRA A+     15551.8Reaffirmed
                                       (Fundbased/Non-fund  (Stable)
                                       based)
Godrej Consumer Products Ltd           LT / ST, Non-FB Fac  ICRA AA+    1700   Reaffirmed
                                                            (Stable) /
                                                            ICRA A1+
Godrej Consumer Products Ltd           LT / ST, FB / Non-FB ICRA AA+    18000  Reaffirmed
                                       Fac                  (Stable) /
                                                            ICRA A1+
Godrej Consumer Products Ltd           LT / ST, FB Fac      ICRA        300    Reaffirmed
                                                            AA+(Stable)
                                                            / ICRA A1+
Govindegowda And Sons                  LT - Fund Based/ CC  ICRA B+     80     -
                                                            (Stable)
(Downgraded from ICRA BB Stable and moved to the ‘Issuer Not Cooperating’ category)
Govindegowda And Sons                  LT – Unallocated     ICRA B+     20     -
                                                            (Stable)
(Downgraded from ICRA BB Stable and moved to the ‘Issuer Not Cooperating’ category)
Hll Medipark Ltd                       LT proposed Bk Fac   ICRA BB     750    Reaffirmed
                                                            (Stable)
Housing And Urban Development          LT Borrowing         ICRA AAA    240000 Assigned
Corporation Ltd.                       Programme FY2021     (Stable)
Housing And Urban Development          LT Borrowing         ICRA AAA    40000  outstanding
Corporation Ltd.                       Programme FY2021     (Stable)
Housing And Urban Development          LT Borrowing         ICRA AAA    76950  outstanding
Corporation Ltd.                       Programme FY2020     (Stable)
Housing And Urban Development          LT Borrowing         ICRA AAA    -      Withdrawn
Corporation Ltd.                       Programme FY2020     (Stable)
Housing And Urban Development          LT Borrowing         ICRA AAA    277100 outstanding
Corporation Ltd.                       Programmes up to     (Stable)
                                       FY2019
Housing And Urban Development          LT Borrowing         ICRA AAA    -      Withdrawn
Corporation Ltd.                       Programmes up to     (Stable)
                                       FY2019
Housing And Urban Development          Fund Based – TL      ICRA AAA    1500   outstanding
Corporation Ltd.                                            (Stable)
Housing And Urban Development          Fund Based – CC      ICRA AAA    41000  outstanding
Corporation Ltd.                                            (Stable)
Housing And Urban Development          Non-fund Based       ICRA AAA    20500.6outstanding
Corporation Ltd.                                            (Stable)
Housing And Urban Development          Unallocated Fixed    ICRA AAA    -      outstanding
Corporation Ltd.                       Deposit Programme~   (Stable)/          MAAA Stable
                                                            ICRA A1+
(~Rs. 2,000-crore programme with Rs. 174.92 crore outstanding as on December 31, 2019 )
Ihhr Hospitality Pvt Ltd               Fund Based – TL      ICRA BBB    2487   -
(outlook revised to Negative from Stable)
Ihhr Hospitality Pvt Ltd               Fund Based – Working ICRA BBB    100    -
                                       Capital Fac
(outlook revised to Negative from Stable)
Indospace Walajabad Ii Pvt Ltd         LT – Fund Based TL   ICRA BBB    470    Assigned
                                                            (Stable)
Indospace Walajabad Ii Pvt Ltd         LT-Interchangeable   ICRA BBB    -      Assigned
                                                            (Stable)
Intertex Pvt Ltd                       CC                   ICRA BB     100    Reaffirmed
                                                            (Stable)
Jassmine Enterprises                   LT – Fund Based CC   ICRA D      100    -
(continues to remain under Issuer Not Cooperating category)
Jindal Power Ltd                       LT FB TL             ICRA BBB    64438  -
                                                            (Negative)
( downgraded from ICRA BBB+, outlook revised from Stable to Negative )
Jindal Power Ltd                       LT FB CC             ICRA BBB    6500   -
                                                            (Negative)
( downgraded from ICRA BBB+, outlook revised from Stable to Negative )
Jindal Power Ltd                       LT non-FB            ICRA BBB    7000   -
                                                            (Negative)
( downgraded from ICRA BBB+, outlook revised from Stable to Negative )
Jindal Power Ltd                       Unallocated          ICRA BBB    15692  -
                                                            (Negative)
( downgraded from ICRA BBB+, outlook revised from Stable to Negative )
Jindal Power Ltd                       NCDs                 ICRA BBB    568    -
                                                            (Negative)
( downgraded from ICRA BBB+, outlook revised from Stable to Negative )
Kayem Food Industries Pvt Ltd          FBL                  ICRA BB     130    -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Kayem Food Industries Pvt Ltd          TL                   ICRA BB     2260   -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Kayem Food Industries Pvt Ltd          Unallocated Limits   ICRA BB     50     -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Kotak Mahindra Bank Ltd                Infrastructure Bonds ICRA        15000  Reaffirmed
                                       Programme/NCDs       AAA(Stable)
Kotak Mahindra Bank Ltd                Lower Tier II Bonds  ICRA        1500   Reaffirmed
                                                            AAA(Stable)
Laxminarayan Industries                LT FB - CC           ICRA B+     60     -
                                                            (Stable)
(Rating downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Laxminarayan Industries                LT Non-Fundbased     ICRA B+     12.4   -
                                                            (Stable)
(Rating downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Lumax Industries Ltd                   LT FB limits         ICRA A+     805    outstanding
                                                            (Stable)
Lumax Industries Ltd                   Unallocated          ICRA A+     15     outstanding
                                                            (Stable)
Madhusudan Threads                     LT FB - CC           ICRA B+     30     -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Madhusudan Threads                     LT FB - TL           ICRA B+     132.7  -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Madhusudan Threads                     LT – Unallocated     ICRA B+     2.3    -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Mridul International Pvt Ltd           LT-Fund Based-TL     ICRA B+     15.8   -
                                                            (Stable)
(downgraded from ICRA BB+(Stable) and continue to remain under ‘Issuer Not Cooperating’ category
)
Mridul International Pvt Ltd           LT/ST Unallocated    ICRA B+     83.3   -
                                                            (Stable)/A4
( Rating downgraded from ICRA BB+(Stable)/A4+ and continue to remain under ‘Issuer Not
Cooperating’ category )
N.B.Cotex Pvt. Ltd.                    CC                   ICRA B      55     -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
N.B.Cotex Pvt. Ltd.                    TL                   ICRA B      14.9   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
N.B.Cotex Pvt. Ltd.                    Unallocated Limits   ICRA B      10.1   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Navdanya Enterprises                   FB - CC              ICRA B      25     -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Navdanya Enterprises                   FB - TL              ICRA B      40     -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Navdanya Enterprises                   FB – Buyer’s Credit**ICRA B      -      -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category. 
 **Sub-limit of the Term Loan )
Navdanya Enterprises                   Non-fund based – BG  ICRA B      17.4   -
                                                            (Stable)
                                                            /ICRA A4
(Rating moved to the ‘Issuer Not Cooperating’ category)
Navdanya Enterprises                   Untied limits        ICRA B      2.6    -
                                                            (Stable)
                                                            /ICRA A4
(Rating moved to the ‘Issuer Not Cooperating’ category)
Navdanya Foods Pvt Ltd                 FB – CC              ICRA B      40     -
                                                            (Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Northern Arc Capital Ltd               Orange Retail Finance Provisional 150   confirmed as
                                       India Private Limited ICRA              final
                                       Pooled Loan Issuance BBB+(CE)
                                       Northern Arc P.L.I. XI Sep 2019  

Northern Arc Capital Ltd               Amrit Malwa Capital  Provisional 80     confirmed as
                                       Limited              ICRA               final
                                       Pooled Loan Issuance BBB+(CE)
                                       Northern Arc P.L.I. XI Sep 2019 
  
Northern Arc Capital Ltd               Western India        Provisional 60     confirmed as
                                       Transport Finance    ICRA               final
                                       Company Ltd          BBB+(CE)
                                       Pooled Loan Issuance
                                       Northern Arc P.L.I. XI Sep 2019     
      
Northern Arc Capital Ltd               G U Financial        Provisional 50     confirmed as
                                       Services Private     ICRA               final
                                       Limited              BBB+(CE)
                                       Pooled Loan Issuance
                                       Northern Arc P.L.I. XI Sep 2019     
Northern Arc Capital Ltd               Vaya Finserv Pvt. Ltd Provisional 150    confirmed as
                                       Pooled Loan Issuance ICRA               final
                                       Northern Arc P.L.I. BBB+(CE)
                                       XI Sep 2019 
Pd Corporation Pvt Ltd                 Fund based-TL        ICRA D      121.2  -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Pd Corporation Pvt Ltd                 FB - CC              ICRA D      105    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Pd Corporation Pvt Ltd                 Non-Fund Based BG    ICRA D      6      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Pinakin Green Energy Pvt Ltd           FB TL                ICRA BB-    127.5  Assigned
                                                            (Stable)
Prabha Engineers                       Fund based – TL      ICRA B+     25     -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category.)
Prabha Engineers                       Fund based – CC      ICRA B+     25     -
                                                            (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category.)
Psa Sical Terminals Ltd                LT Non-FB limits     ICRA BBB    1000   Withdrawn
                                                            (Stable)
Punjab Retail Pvt Ltd                  Fund based-CC        ICRA        480    Reaffirmed
                                                            BBB-(Stable)
R.D. Tea Ltd                           Fund Based – TL      ICRA BB-    27.9   Withdrawn
                                                            (Stable)
R.D. Tea Ltd                           Fund Based – CC      ICRA BB-    157.3  Withdrawn
                                                            (Stable)
Reitzel India Pvt Ltd                  LT/ ST - Unallocated ICRA BBB-   15     Reaffirmed
                                                            /A3
Reliance Industries Ltd                NCDs                 ICRA AAA    570000 Reaffirmed
                                                            (Stable)
Riddhi Siddhi Cotfiber Pvt Ltd         Fund based- CC cum   ICRA B+     130    Reaffirmed
                                       optionally           (Stable)
                                       convertible debenture BD
(removed from NDS noncooperation -)
Riddhi Siddhi Cotfiber Pvt Ltd         Unallocated Limits   ICRA B+     28.5   Reaffirmed
                                                            (Stable)
(removed from NDS noncooperation Rating Action (Rs. crore))
Rsal Steel Pvt Ltd                     LT FBL               ICRA D      705.2  -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
S Ltd                                  FB TL                ICRA BB-    127.5  Assigned
                                                            (Stable);
Sahyadri Starch & Industries           LT/ST –              ICRA BB+    -      Reaffirmed
Pvt Ltd                                Interchangeable**    (Stable)
                                                            /ICRA A4+
(removed from Issuer Not Cooperating category . 
 **Interchangeable with cash credit facility )
Sahyadri Starch & Industries           LT/ST Unallocated    ICRA BB+    46.2   Reaffirmed
Pvt Ltd                                amount               (Stable)
                                                            /ICRA A4+
(removed from Issuer Not Cooperating category )
Sahyadri Starch & Industries           LT – Fund Based – CC ICRA        240    Reaffirmed
Pvt Ltd                                                     BB+(Stable)
(removed from Issuer Not Cooperating category )
Sakthi Auto Motors Ltd                 LT – FB              ICRA BB     100    -
                                                            (CE)
                                                            (Negative)
(Rating downgraded from ICRA BB+ (CE) (Stable) and moved to ‘Issuer Not Cooperating’ category)
Sakthi Auto Motors Ltd                 LT – TL              ICRA BB     150    -
                                                            (CE)
                                                            (Negative)
(Rating downgraded from ICRA BB+ (CE) (Stable and moved to ‘Issuer Not Cooperating’ category )
Salasar Balaji Cold Storage            FB – CC Pledge       ICRA B      28.8   -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Salasar Balaji Cold Storage            FB – CC Clean        ICRA B      2.5    -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Salasar Balaji Cold Storage            FB – TL              ICRA B      56     -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sap Industries                         CC                   ICRA        25     -
                                                            B(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sap Industries                         Unallocated Facility ICRA        17.5   -
                                                            B(Stable)/A4
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Seeds & Grains India Pvt Ltd           LT - FB TL           ICRA BB     15     Reaffirmed
                                                            (Stable)
Seeds & Grains India Pvt Ltd           LT/ST – Unallocated  ICRA BB     90     Reaffirmed
                                                            (Stable)/A4
Sheth Ship Breaking Corporation        FB - CC              ICRA D      50     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sheth Ship Breaking Corporation        Non-FB Limits-LOC    ICRA D      420    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Shree Bhavani Rice Mill                TL                   ICRA B      10     -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Shree Bhavani Rice Mill                CC                   ICRA B      50     -
                                                            (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Shree Durga Iron And Steel Co.         CC^                  ICRA B      -      Reaffirmed
Ltd                                                         (Stable)
(^sublimit of letter of credit )
Shree Durga Iron And Steel Co.         Unallocated          ICRA B      80     Reaffirmed
Ltd                                                         (Stable) /
                                                            ICRA A4
Shri Ganesh Industries                 Fund based CC        ICRA B+     60     -
                                                            (Stable)
( ISSUER NOT COOPERATING and continues to remain under ‘Issuer Not Cooperating’ category.)
Shri Ganesh Industries                 Unallocated          ICRA B+     40     -
                                                            (Stable)
( ISSUER NOT COOPERATING and continues to remain under ‘Issuer Not Cooperating’ category.)
Shri Madhusudan Dyeing And             LT FB - CC           ICRA B+     30     -
Printing Mills Pvt Ltd                                      (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Shri Madhusudan Dyeing And             LT FB - TL           ICRA B+     38.7   -
Printing Mills Pvt Ltd                                      (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Shri Madhusudan Rayons Pvt Ltd         LT FB - CC           ICRA B+     130    -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Shri Madhusudan Rayons Pvt Ltd         LT FB - TL           ICRA B+     55.7   -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Shri Madhusudan Rayons Pvt Ltd         LT – Unallocated     ICRA B+     56.7   -
                                                            (Stable)
(Rating downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Shriram Sepl Composites Pvt Ltd        TL                   ICRA D      8      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category )
Shriram Sepl Composites Pvt Ltd        Fund Based CC        ICRA D      50     -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category )
Shriram Sepl Composites Pvt Ltd        Non-FBL              ICRA D      70     -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category )
Shriram Sepl Composites Pvt Ltd        Unallocated Limits   ICRA D      2      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category )
Shriram Sepl Composites Pvt Ltd        NFBL                 ICRA D      3      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category )
Smile Interiors Pvt. Ltd.              LT Fund based        ICRA        100    -
                                                            B(Stable)
(Rating continues to be in ‘Issuer Not Cooperating’ category)
Solar Energy Corporation Of            Unallocated Limits   ICRA        1250   Outstanding
India Ltd                                                   AA+(Stable)
                                                            / ICRA A1+
Solar Energy Corporation Of            NFBL                 ICRA        4250   Outstanding
India Ltd                                                   AA+(Stable)
                                                            / ICRA A1+
Sp Superfine Cotton Mills Pvt          LT - Fund Based/ CC  ICRA D      80     -
Ltd
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Sp Superfine Cotton Mills Pvt          LT - Fund Based TL   ICRA D      669.4  -
Ltd
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Sp Superfine Cotton Mills Pvt          LT - Unallocated     ICRA D      285.2  -
Ltd
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Srinivasa Educational Trust            TL                   ICRA B+     60.7   Assigned
                                                            (Stable)
Srinivasa Educational Trust            Unallocated facility ICRA B+     41.8   Assigned
                                                            (Stable)
Sudamo Impex Pvt Ltd                   LT FB - CC           ICRA B+     55     -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudamo Impex Pvt Ltd                   LT FB - TL           ICRA B+     51.7   -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudamo Impex Pvt Ltd                   LT – Unallocated     ICRA B+     30.8   -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudamo Impex Pvt Ltd                   LT - Interchangeable ICRA B+     -      -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudarshan Textiles Pvt Ltd             LT FB - CC           ICRA B+     25     -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudarshan Textiles Pvt Ltd             LT FB - TL           ICRA B+     30.4   -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sudarshan Textiles Pvt Ltd             LT – Unallocated     ICRA B+     9.6    -
                                                            (Stable)
(Downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Sunworld Residency Pvt Ltd             LT Fundbased TL      ICRA D      900    -
(Moved to ‘ISSUER NOT COOPERATING’ category )
Swelect Energy Systems Ltd             LT Fund Based/ CC    ICRA A-     500    Reaffirmed
(outlook revised to Negative from (Stable))
Swelect Energy Systems Ltd             Long- Term Fund based ICRA A-    330    Reaffirmed
                                       TL
(outlook revised to Negative from (Stable))
Swelect Energy Systems Ltd             LT/ ST – Sub Limit   ICRA        -      Reaffirmed
                                       Fac ***              A-/ICRA A2+
(*** Sublimit of Rs. 35-crore non-fund-based facilities )
Swelect Energy Systems Ltd             LT/ ST Unallocated   ICRA        170    Reaffirmed
                                                            A-/ICRA A2+
(outlook revised to Negative from (Stable))
Tata Steel Downstream Products         Tata Steel Downstream ICRA       4200   -
Ltd                                    Proptionally         AA-(Stable)
                                       convertible debentureucts Limited 
(Reason for delay in carrying out periodic review: - Review Process Underway )
Tata Steel Downstream Products         Tata Steel Downstream ICRA       3500   -
Ltd                                    Proptionally         AA-(Stable)
                                       convertible debentureucts Limited 
(Reason for delay in carrying out periodic review: - Review Process Underway )
Umiya Industries                       LT, Fund- Based      ICRA B      30     -
                                       Limits – Overdraft   (Stable)
                                       Limits
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Uniparts India Ltd                     TL                   ICRA A+     550    outstanding
                                                            (Stable)
Uniparts India Ltd                     Unallocated Limits   ICRA A+     10     outstanding
                                                            (Stable)
Uniparts India Ltd                     FB – Working Capital ICRA A+     1725   outstanding
                                       Fac                  (Stable)
                                                            /ICRA A1
Value Plus Retail Pvt Ltd              LT – Fund Based/ CC  ICRA BB     250    -
                                                            (Negative)
(rating revised from ICRA BB+ (Stable))
Vareli Tecnac Pvt Ltd                  Fund Based - CC      ICRA B+     10     -
                                                            (Stable)
(Rating downgraded from ICRA BB(Stable) and continues to remain under ‘Issuer Not Cooperating’
category )
Varroc Engineering Ltd                 TL                   ICRA AA- @  1706.5 -
(Rating placed on watch with negative implications)
Varroc Engineering Ltd                 NCD                  ICRA AA- @  1000   -
(Rating placed on watch with negative implications)
Varroc Engineering Ltd                 FB Fac               ICRA AA-    3438.5 -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Engineering Ltd                 Non-FB Fac           ICRA AA-    1520   -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Engineering Ltd                 FB/ Non-FB Fac       ICRA AA-    2385   -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Lighting Systems                TL                   ICRA AA- @  380    -
(India) Pvt Ltd
(Rating placed on watch with negative implications)
Varroc Lighting Systems                FB Fac               ICRA AA-    250    -
(India) Pvt Ltd                                             @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Lighting Systems                FB/ Non-FB Fac       ICRA AA-    70     -
(India) Pvt Ltd                                             @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Polymers Pvt Ltd                TL                   ICRA AA- @  515    -
(Rating placed on watch with negative implications)
Varroc Polymers Pvt Ltd                NCD                  ICRA AA- @  500    -
(Rating placed on watch with negative implications)
Varroc Polymers Pvt Ltd                FB Fac               ICRA AA-    395    -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Polymers Pvt Ltd                Non-FB Fac           ICRA AA-    690    -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Varroc Polymers Pvt Ltd                FB/ Non-FB Fac       ICRA AA-    1400   -
                                                            @/ICRA A1+@
(Ratings placed on watch with negative implications)
Vibracoustic India Pvt Ltd             LT / ST - Fund Based ICRA BBB+   36     -
                                                            (Stable)/A2+
(Rating downgraded from ICRA A+ (Stable)/A1+ and moved to the ‘ISSUER NOT COOPERATING’ category)
Vibracoustic India Pvt Ltd             LT / ST – Unallocated ICRA BBB+  9      -
                                                            (Stable)/A2+
(Rating downgraded from ICRA A+ (Stable)/A1+ and moved to the ‘ISSUER NOT COOPERATING’ category
)
Wheels India Ltd                       TL                   ICRA A+     1478.1 Reaffirmed
                                                            (Negative)
(Outlook revised to negative from stable )
Wheels India Ltd                       LT- FB Fac           ICRA A+     2600   Reaffirmed
                                                            (Negative)
(Outlook revised to negative from stable )
Wheels India Ltd                       LT – Unallocated     ICRA A+     421.9  Reaffirmed
                                                            (Negative)
(Outlook revised to negative from stable )
Apm Projects Pvt Ltd                   FB TL                ICRA BB-    127.5  Assigned
                                                            (Stable)
Baraka Overseas Traders                LT – Fundbased       ICRA B+     180
                                                            (Stable)
Issuer not cooperating
S.N.N. Textiles Pvt Ltd                CC                   ICRA B      70
                                                            (Stable)
Issuer not cooperating
S.N.N. Textiles Pvt Ltd                TL                   ICRA B      180
                                                            (Stable)
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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below