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ICRA ratings for Indian debt instruments-Mar 14
March 14, 2017 / 10:17 AM / 9 months ago

ICRA ratings for Indian debt instruments-Mar 14

    Mar 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 10, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Api Ispat And Powertech Pvt Ltd         Non-FB Limits         ICRA A2+     460     Assigned
(enhanced from 25)
Brigade Enterprises Ltd                 ST – Non fund based   ICRA A1      600     Reaffirmed
                                        Bk lines
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     30000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD                ICRA A1+     1000    Outstanding
Ltd
Edelweiss Commodities Services          ST Equity linked      PP-MLD ICRA  5000    Outstanding
Ltd                                     Debenture             A1+
Edelweiss Finance &                     CP Programme (IPO     ICRA A1+     10000   assigned
Investments Ltd                         financing)
Edelweiss Finance &                     CP Programme (IPO     ICRA A1+     10000   Withdrawn
Investments Ltd                         financing)
Edelweiss Finance &                     CP                    ICRA A1+     5000    Outstanding
Investments Ltd
Edelweiss Finance &                     ST Equity linked      PP-MLD ICRA  4000    Outstanding
Investments Ltd                         Debenture             A1+
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     45000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     30000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP                    ICRA A1+     50000   Outstanding
Ltd
Edelweiss Financial Services            ST NCD                ICRA A1+     1000    Outstanding
Ltd
Sequent Scientific Ltd                  NFBL                  ICRA A2+     400     #
Stp Ltd                                 ST Non-fund based     ICRA A4      90      Reaffirmed
Tech Auto Pvt Ltd                       FBL- ST               ICRA A2      100     Reaffirmed

LONG TERM RATINGS:
-------------------
Satin Creditcare Network                PTC Series A2         ICRA AA-(SO)         Upgraded
Ltd (Lucina Ifmr Capital 2015#)                                                    from ICRA A-
                                                                                   (SO)
# PTC A1 in these transactions have been fully amortized
Ama India Enterprises Pvt Ltd           LT FB – TL            ICRA B+      4.5     Reaffirmed
Ama India Enterprises Pvt Ltd           LT FB – CC            ICRA B+      95      Reaffirmed
Api Ispat And Powertech Pvt Ltd         FB Limits             ICRA A-      1190    Assigned
(enhanced from 45)
Bimal Auto Agency India Pvt Ltd         Fund Based            ICRA BBB     240     Reaffirmed
Brigade Enterprises Ltd                 LT – Fund based Bk    ICRA A       21400   Reaffirmed
                                        lines
Edelweiss Commodities Services          NCD                   ICRA AA      37000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Edelweiss Finance &                     NCD                   ICRA AA      7500    Outstanding
Investments Ltd
Edelweiss Finance &                     Sub Debt              ICRA AA      500     Outstanding
Investments Ltd
Edelweiss Finance &                     LT Equity linked      PP-MLD ICRA  8000    Outstanding
Investments Ltd                         Debenture             AA
Edelweiss Financial Services            NCD                   ICRA AA      5000    Outstanding
Ltd
India Infoline Finance                  PTCs                  ICRA AAA     2678.7  Confirmed as
Ltd-Robust Cv Trust Dec                                       (SO)                 final  
2016
India Infoline Housing Finance          PTCs                  ICRA AAA     443.2   Confirmed as
Ltd-Elite Mortgage Hl                                         (SO)                 final
Trust                                   
Dec 2016
India Infoline Housing Finance          PTCs                  ICRA AAA     615.5   Confirmed as
Ltd-Elite Mortgage Lap                                        (SO)                 final     
Trust 2016                                                   
Krishna Polypacks Pvt Ltd               CC                    ICRA BB+     52.5    Reaffirmed
Krishna Polypacks Pvt Ltd               Unallocated Amount    ICRA BB+     75.4    Reaffirmed
                                                              /ICRA A4+
Prakash Offset Printers                 Fund Based            ICRA BB      40      Reaffirmed
Prakash Offset Printers                 TL                    ICRA BB      30      Reaffirmed
Prakash Offset Printers                 Unallocated           ICRA BB      25      Reaffirmed
Satin Creditcare Network Ltd            PTC Series A2         ICRA BB-     92      Downgraded
(Antoninus Ifmr Capital 2016)                                 (SO)                 from ICRA
                                                                                   BBB- (SO)
Satin Creditcare Network Ltd            PTC Series A1         ICRA BBB-    1034.6  Downgraded
(Antoninus Ifmr Capital 2016)                                 (SO)                 from ICRA A-
                                                                                   (SO)
Satin Creditcare Network                PTC Series A3         ICRA A(SO)           Upgraded
Ltd (Delphine Ifmr Capital                                                         from ICRA
2015#)                                                                             BBB(SO)
# PTC A1 in these transactions have been fully amortized
Satin Creditcare Network                PTC Series A2         ICRA AA-(SO)         Upgraded
Ltd (Delphine Ifmr Capital                                                         from ICRA A-
2015#)
# PTC A1 in these transactions have been fully amortized
Satin Creditcare Network                PTC Series A2         ICRA A(SO)           Upgraded
Ltd (Eudaimonia Ifmr Capital                                                       from ICRA
2015#)                                                                             BBB(SO)
# PTC A1 in these transactions have been fully amortized
Satin Creditcare Network                PTC Series A1         ICRA A+(SO)          Upgraded
Ltd (Fides Ifmr Capital 2016)                                                      from ICRA A-
Satin Creditcare Network                PTC Series A1         ICRA A(SO)           Reaffirmed
Ltd
(Fioritura Ifmr Capital
2016)
Satin Creditcare Network                PTC Series A3         ICRA BBB(SO)         Reaffirmed
Ltd
(Fioritura Ifmr Capital
2016)
Satin Creditcare Network                PTC Series A2         ICRA BBB             Reaffirmed
Ltd                                                           (SO)    
(Fioritura Ifmr Capital                                   
2016)
Satin Creditcare Network                PTC Series A2         ICRA AA-(SO)         Upgraded
Ltd (Mellona Ifmr Capital                                                          from ICRA A-
2016#)                                                                             (SO)
# PTC A1 in these transactions have been fully amortized
Satin Creditcare Network                PTC Series A1         ICRA AA-(SO)         Upgraded
Ltd (Tulip Trust Jan 2016)                                                         from ICRA A-
Satin Creditcare Network                PTC Series A1         ICRA BBB+    611.6   Downgraded
Ltd(Deimos Ifmr Capital 2016)                                 (SO)                 from ICRA A-
                                                                                   (SO)
Satin Creditcare Network                PTC Series A2         ICRA         54.4    Downgraded
Ltd(Deimos Ifmr Capital 2016)                                 BBB+(SO)             from ICRA
                                                                                   BBB- (SO)
Satin Creditcare Network                PTC Series A1         ICRA A+(SO)  -       Upgraded
Ltd(Horme Ifmr                                                                     from ICRA A- 
Capital 2015)                                                    
Sequent Scientific Ltd                  TL                    ICRA BBB+    492.5   #
Sequent Scientific Ltd                  FBL                   ICRA BBB+    865     #
Stp Ltd                                 LT FB – CC            ICRA B       240     Upgraded
                                                                                   from
                                                   ICRA B-    
Stp Ltd                                 LT Non-fund based     ICRA B       20      Upgraded
                                                                                   from
                                                                                   ICRA B-
Tech Auto Pvt Ltd                       FBL- LT               ICRA BBB     78.5    Reaffirmed
Tech Auto Pvt Ltd                       Unallocated Limits- LTICRA BBB     21.5    Reaffirmed
Tvs Credit Services Ltd(Silver          Second Loss Facility  ICRA A- (SO) 17.8    confirmed as
Trust July 2016 )                                                                  final
Tvs Credit Services Ltd(Silver          PTC Series A          ICRA AAA     474.9   confirmed as
Trust July 2016 )                                             (SO)                 final
Vanshika Sugar & Power                  TL                    ICRA B+      120     Upgraded
Industries Ltd                                                                     from ICRA B
Vanshika Sugar & Power                  Warehousing Limit     ICRA B+      145     Upgraded
Industries Ltd                                                                     from ICRA B
Vanshika Sugar & Power                  Warehousing Limit     ICRA B+      100     Upgraded
Industries Ltd                                                                     from ICRA B
--------------------------------------------------------------------------------------------
$: 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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