April 5, 2017 / 10:33 AM / 10 months ago

ICRA ratings for Indian debt instruments-Apr 5

    Apr 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 4, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Rossell India Ltd                       ST- NFBL                    A1     25      Downgraded
Rural Electrification                   ST borrowing                A1+    50000*  Assigned
Corporation Ltd                         programme FY2018
*Short- term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2018 not exceeding Rs. 55,000 crore
Tirupati Cotton                         Non-FBL                     A4     12.5    Reaffirmed
Vakrangee Ltd                           ST Non-FB Fac               A4+    1109
Put on Notice of Withdrawal for 90 days

Ashutosh Container Services             FB Limits                   BBB            Reaffirmed
Pvt Ltd
Ashutosh Container Services             Non-FBL                     BBB    2       Reaffirmed
Pvt Ltd
Dhareshwar Cotton Pvt Ltd               FB Limits                   B      70.2    Reaffirmed
Dhareshwar Cotton Pvt Ltd               LT Unallocated Limits       B      18.8    Reaffirmed
Kanishk Metalloys                       FB Limits                   B+     85      Revised from
Patel Cotton                            FB Limits                   B+     178     Reaffirmed
Reliance Home Finance Ltd -             PTC Series A                AAA    987.4   Assigned
RHF Indian Receivable Trust 3 2017                            (SO)
Rossell India Ltd                       LT-FBL*                     A      720     Downgraded
                                                                                   from       A+
enhanced from Rs 53.0 crore
Rossell India Ltd                       LT- TL                      A      240     Downgraded
                                                                                   from       A+
enhanced from Rs 22 crore
Rural Electrification                   LT borrowing                AAA    500000* Assigned
Corporation Ltd                         programme FY2018
*Short- term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2018 not exceeding Rs. 55,000 crore
Savfab Developers Pvt Ltd               FB Limits                   C+     350     Revised from
Tirupati Cotton                         FB Limits                   B+     240     Reaffirmed
Vakrangee Ltd                           LT FB Fac                          4000
Put on Notice of Withdrawal for 90 days
Vakrangee Ltd                           TL                          BB+    156     Withdrawn

$: 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
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