March 9, 2017 / 10:35 AM / in 9 months

ICRA ratings for Indian debt instruments-Mar 9

    Mar 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 8, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Guardian Castings Pvt Ltd               ST: Non Fund Based          BBB-   51      Assigned
Imcola (Exports) Ltd                    ST, FB Fac                  A1     300     Reassigned
Imcola (Exports) Ltd                    ST, Non-FBL                 A1     350     Reassigned
(revised from 84.78 CR)
Imcola (Exports) Ltd                    ST, Unallocated limits      A1     497.8   Reassigned
(enhanced from nil CR)
Kachchh Veneers Pvt Ltd                 LOC                         A4     165     Reaffirmed
Maf Clothing Pvt Ltd                    ST- Non-FB Fac              A3     300     Reaffirmed
Sharda Construction And                 ST: Fund based              A3+    100     Reaffirmed
Corporation Pvt Ltd
Sharda Construction And                 ST: Non Fund based          A3+    10      Assigned
Corporation Pvt Ltd
Shree Ajit Pulp And Paper Ltd           ST Non-FBL                  A2+    20      Reaffirmed
Soneri Marine Foods                     FB                          A4     50      Reaffirmed
                                        EPC/FBD/FBP/PCFC/EBR 
Soneri Marine Foods                     Non-fund based CEL          A4     2       Reaffirmed
Tata Capital Financial                  ST Loans                    A1+    8000    Reaffirmed
Services Ltd
Tata Capital Financial                  ST Debt Programme           A1+    100000  Reaffirmed
Services Ltd

LONG TERM RATINGS:
-------------------
Armania Agro Industries                 FBL                         B      73.5    Reaffirmed
Atlas Jewellery India Ltd               Issuer Rating         IrBBB-       -       Withdrawn
Au Financiers (India) Ltd               NCD Programme               A+     4900    Assigned
Au Financiers (India) Ltd               NCD Programme               A+     3000    Outstanding
Au Financiers (India) Ltd               Subordinated Debt           A+     500     Outstanding
                                        Programme
Au Financiers (India) Ltd               Bk Lines                    A+ /   7250    Outstanding
                                                                    A1+
Cholamandalam Investment & Fin          PTC Series A1                AAA   1768.8  confirmed as
Co. Ltd                                                       (SO)                 final
Cholamandalam Investment & Fin          Second Loss Facility        A(SO)  67.2    confirmed as
Co. Ltd                                                                            final
Fusion Microfinance Pvt Ltd             PTC Series A1                      81.2    Reaffirmed
                                                              A-(SO)
Fusion Microfinance Pvt Ltd             PTC Series A2                B(SO) 26.6    Reaffirmed
Fusion Microfinance Pvt Ltd             PTC Series A1                      245.4   Reaffirmed
                                                              BBB+(SO)
Guardian Castings Pvt Ltd               TL                          BBB-   35.8    Assigned
Guardian Castings Pvt Ltd               LT: Fund based              BBB-   330.5   Assigned
Guardian Castings Pvt Ltd               LT/ST: Unallocated          BBB-   32.7    Assigned
Intec Capital Ltd                       PTC Series A2               A-(SO) 16.3    Withdrawn
Intec Capital Ltd                       PTC Series A1               A+(SO) 372     Withdrawn
Janalakshmi Financial Services          PTC Series A1               A+(SO) 750     Withdrawn
Pvt. Ltd.
Kachchh Veneers Pvt Ltd                 Unallocated Limits          B+ /   5       Reaffirmed
                                                              A4
Lavu Educational Society                FBL                         BB     724.9   Reaffirmed
Maf Clothing Pvt Ltd                    LT- FB Fac                  BBB-   400     Reaffirmed
Pon Pure Logistics Pvt Ltd              LT, Fund Based              BB+    80      Assigned
Sharda Construction And                 TL                          BBB    740     Assigned
Corporation Pvt Ltd
Sharda Construction And                 LT: Fund based              BBB    330     Reaffirmed
Corporation Pvt Ltd
Sharda Construction And                 LT: Non Fund Based          A3+    1000    Reaffirmed
Corporation Pvt Ltd
(enhanced from 55.00 CR)
Shree Ajit Pulp And Paper Ltd           LT FBL                      A-     719.6   Reaffirmed
(enhanced from 61.48 CR)
Smile Microfinance Ltd.                 PTC Series A2               A-(SO) 7.2     Withdrawn
Smile Microfinance Ltd.                 PTC Series A1               A+(SO) 210.8   Withdrawn
Soneri Marine Foods                     FB TL                       B+     3.2     Reaffirmed
Soneri Marine Foods                     Unallocated Limits          B+ /   12      Reaffirmed
                                                                    A4
Tata Capital Financial                  Perpetual Debt              AA     5935.5  Reaffirmed
Services Ltd                            Programme
Tata Capital Financial                  NCDs Programme              AA+    58319.3 Reaffirmed
Services Ltd
Tata Capital Financial                  Subordinated Debt           AA+    9054.5  Reaffirmed
Services Ltd                            Programme
Tata Capital Financial                  LT FBL                      AA+    122000  Reaffirmed
Services Ltd
Tata Capital Financial                  LT Loans                    AA+    15000   Reaffirmed
Services Ltd
Tata Capital Financial                  LT NFBL                     AA+    5000    Reaffirmed
Services Ltd
Tata Capital Financial                  NCDs Programme              AA+    6067    Withdrawn
Services Ltd
Tata Sons Ltd                           NCD                         AAA    5400    Withdrawn
Vinayak Nirman Pvt Ltd                  FBL                         B      150     Assigned
--------------------------------------------------------------------------------------------
$: 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@thomsonreuters.com)

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