March 27, 2017 / 10:20 AM / in 8 months

ICRA ratings for Indian debt instruments-Mar 27

    Mar 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 24, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
JM Financial Products Ltd               CP programme          ICRA A1+     35000   outstanding
JM Financial Products Ltd               CP programme (for IPO ICRA A1+     31000   Withdrawn
SCG Contracts India Pvt Ltd             LT Non-fund Based – BGICRA A3      250     Reaffirmed
Spa Ceramic Pvt Ltd                     BG                    ICRA A4      9       Reaffirmed
Tata Cummins Pvt Ltd                    CP                    ICRA A1+     750     Assigned

Boi Axa Investment Managers             BOI AXA Capital       ICRA AAAmfs  -       Withdrawn
Pvt Ltd                                 Protection Oriented
                                        Fund - Series 1
Jai Maakali Fish Farms Pvt Ltd          CC                    ICRA B-      450     Upgraded
                                                                                   from ICRA D
JM Financial Products Ltd               NCD Programme         ICRA AA      10000   Assigned
JM Financial Products Ltd               NCD Programme         ICRA AA      7000    outstanding
JM Financial Products Ltd               LT Bk lines           ICRA AA      5000    outstanding
JM Financial Products Ltd               LT Equity Linked      PP-MLDICRA   2250    outstanding
                                        Debentures (Principal AA
JM Financial Products Ltd               LT Equity Linked                   2000    Assigned
                                        Debentures (Principal
Nhpc Ltd                                LT Bonds Programme    ICRA AAA     40000   Reaffirmed
Nuzen Herbal Pvt Ltd                    TL                    ICRA B-      230     Reaffirmed
Nuzen Herbal Pvt Ltd                    Unallocated Amount    ICRA B-      150     Reaffirmed
SCG Contracts India Pvt Ltd             LT FB – CC            ICRA BBB-    30      Reaffirmed
Spa Ceramic Pvt Ltd                     TL                    ICRA B       20      Upgraded
                                                                                   from ICRA B-
Spa Ceramic Pvt Ltd                     CC                    ICRA B       40      Upgraded
                                                                                   from ICRA B-
Sri Venkateswara Rice                   FBL                   ICRA BB      703     Reaffirmed
Industries Pvt Ltd
Sri Venkateswara Rice                   Unallocated limits    ICRA BB      47      Reaffirmed
Industries Pvt Ltd
Tea Board Of India                      TL                    ICRA AA      391     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

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