March 22, 2017 / 10:17 AM / 8 months ago

ICRA ratings for Indian debt instruments-Mar 22

    Mar 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 21, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anjalee Granites Pvt Ltd                FLC                   ICRA A4      92.5    Reaffirmed
(revised from Rs. 6.60 crore)
Godavari Polymers Pvt Ltd               NFBL                  ICRA A4+     500     Reaffirmed
Iifl Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     30000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP Programme          ICRA A1+     40000   outstanding
Iifl Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     40000   outstanding
                                        financing)
Mohit Ispat Ltd                         ST non-fund based Bk  ICRA A4      350     Assigned
                                        Fac
Ramsons Casting Pvt Ltd                 Non-FBL (BG)          ICRA A4      20      Downgraded
                                                                                   from
                                                                                   ICRA A4+
The Indian Steel & Wire                 Non-FBL               ICRA A2+     70      Reaffirmed
Products Ltd
Updater Services Pvt Ltd                ST: NFBL              ICRA A1      50      Reaffirmed

LONG TERM RATINGS:
-------------------
Acknit Industries Ltd                   FB Limits             ICRA BBB-    566.5   Reaffirmed
(enhanced from 46.30)
Acknit Industries Ltd                   Non-FB Limits         ICRA BBB-/   114     Reaffirmed
                                                              ICRA A3
(enhanced from 8.74)
Anjalee Granites Pvt Ltd                CC                    ICRA BB-     340     Upgraded
                                                                                   from ICRA B
(revised from Rs. 30.00 crore)
Anjalee Granites Pvt Ltd                TL                    ICRA BB-     45.2    Upgraded
                                                                                   from ICRA B
(revised from Rs. 6.45 crore)
Anjalee Granites Pvt Ltd                Unallocated Limits    ICRA BB- /   42.3    Upgraded
                                                              ICRA A4              from ICRA
                                                                                   B/Reaffirmed
(revised from Rs. 8.95 crore)
Armania Agro Industries                 FBL                   ICRA B       87.8    Assigned
(enhanced from Rs. 7.35 crore)
Armania Agro Industries                 Unallocated           ICRA B       3.5     Outstanding
Deep Motors                             FB limits             ICRA BB-     122.5   Reaffirmed
Electronica Finance Ltd-Mse             PTC Series A          ICRA AA+     -       Withdrawn
Loan                                                          (SO)  
Pool Trust V                                             
Electronica Finance Ltd-Mse             PTC Series A          ICRA AAA     -       Withdrawn
Loan                                                          (SO) 
Pool Trust V
Exora Business Parks Ltd                TL                    ICRA A+ (SO) 9013    Reaffirmed
Fusion Micrfinance Pvt Ltd              NCD Programme         ICRA BBB     500     Assigned
Godavari Polymers Pvt Ltd               CC                    ICRA BB+     300     Reaffirmed
Godavari Polymers Pvt Ltd               TL                    ICRA BB+     188     Reaffirmed
Ifmr Capital Finance Pvt                PTC Series A1         Provisional  116.9   Assigned
Ltd-Ifmr Capital                                              ICRA A- (SO)
Mosec Marquez 2017                               
Iifl Wealth Finance Ltd                 NCD Programme         ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      3500    Outstanding
                                        Programme
Iifl Wealth Finance Ltd                 PP-MLD Programme      PP- MLDICRA  25500   Outstanding
                                                              AA
Janalakshmi Financial Services          PTC Series A1         ICRA A (SO)  -       Withdrawn
Ltd-Urashi SBL
Ifmr Capital 2015
Janalakshmi Financial Services          PTC Series A2         ICRA BBB-    -       Withdrawn
Ltd-Urashi SBL                                                (SO)  
Ifmr Capital 2015                                           
Madura Micro Finance Ltd                Subordinated          ICRA BBB     500     Assigned
                                        Debentures
Madura Micro Finance Ltd                LT Bk Fac             ICRA BBB     3000    Reaffirmed
Madura Micro Finance Ltd                NCDs                  ICRA BBB     766     outstanding
Mahindra Agri Solutions Ltd             LT, FBL               ICRA A+      850     Upgraded
                                                                                   from ICRA A-
(enhanced from 40.0)
Mahindra Agri Solutions Ltd             Long-TL               ICRA A+      150     Assigned
Mohit Ispat Ltd                         LT fund based Bk Fac  ICRA B+      380     Assigned
Orb Energy Pvt Ltd                      NCD                   ICRA B       65      Reaffirmed
Ramsons Casting Pvt Ltd                 FB Limits (CC)        ICRA B+      75      Downgraded
                                                                                   from ICRA BB
Ramsons Casting Pvt Ltd                 Unallocated Amount    ICRA B+ /A4  12.5    Downgraded
                                                                                   from ICRA BB
                                                                                   /A4+
Sipai Industries                        FBL                   ICRA B+      143     Reaffirmed
Sipai Industries                        Unallocated Limits    ICRA B+      5       Reaffirmed
Sunderlal Moolchand Jain                CC                    ICRA BB-     100     Reaffirmed
Tobacconist Pvt Ltd
The Indian Steel & Wire                 FB Limits             ICRA A-      300     Reaffirmed
Products Ltd
Tm International Logistics Ltd          Issuer Rating         IrAA         -       Reaffirmed
Updater Services Pvt Ltd                LT: FBL               ICRA A+      350     Upgraded
                                                                                   from ICRA A
Updater Services Pvt Ltd                LT/ ST: Unallocated   ICRA A+ /    300     Upgraded
                                                              ICRA A1              from ICRA
                                                                                   A/Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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