April 12, 2017 / 10:35 AM / 7 months ago

ICRA ratings for Indian debt instruments-Apr 12

   Apr 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 11, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bansal Fine Foods Pvt Ltd               ST non FB Fac         ICRA A4      60      Reaffirmed
Bansal Fine Foods Pvt Ltd               Interchangeable limitsICRA A4              Reaffirmed
Dilipkumar V. Lakhi                     ST - FBL              ICRA A1+     1500    Reaffirmed
Ganeshprasad Impex Pvt. Ltd.            ST Non-FBL            ICRA A4      76.2    Reaffirmed
Ganeshprasad Impex Pvt. Ltd.            ST Non-FBL            ICRA A4              Reaffirmed
Gsp International                       Non FBL               ICRA A4      250     Reaffirmed
Hare Krishna Metallics Pvt Ltd          ST – Non Fund Based   ICRA A3      181     Downgraded
                                                                                   from ICRA A3+
Hare Krishna Metallics Pvt Ltd          ST – Non Fund based   ICRA A3              Downgraded
                                        Sublimit                                   from ICRA A3+
Honest Derivatives Pvt Ltd              ST - Non Fund Based   ICRA A2      35      Reaffirmed
Joseph Leslie & Company Llp             ST Non-FBL            ICRA A4      21      Reaffirmed
Joseph Leslie & Company Llp             LT and ST Unallocated ICRA B+      12.5    Reaffirmed
                                        Limit                 and ICRA A4
Kamman Corporation                      LOC (LC)              ICRA A4+             Reaffirmed
Kamman Corporation                      Unallocated amount    ICRA A4+             Reaffirmed
Kribhco Infrastructure Ltd              CP                    ICRA A1+(SO) 200     Reaffirmed
Kribhco Infrastructure Ltd              CP                    ICRA A1+(SO) 250     Outstanding
Legend Ceramic Pvt Ltd                  NFBL                  ICRA A4      10      Reaffirmed
Orient Packaging                        NFBL                  ICRA A4      30      Reaffirmed
Patel Wood Works & Timber Mart          ST Non-FBL            ICRA A4      150     Reaffirmed
Patel Wood Works & Timber Mart          ST Non-FBL            ICRA A4              Reaffirmed
Robo Equipments And Forgings            NFBL                  ICRA A4      10      Reaffirmed
Pvt Ltd
Roshan Real Estates Pvt Ltd             Non-FB limits         ICRA A4      160     Reaffirmed
S. Gopal Kamath (Cochin) Pvt            ST FBL                ICRA A4      5       Reaffirmed
Ltd
S. Gopal Kamath (Cochin) Pvt            ST NFBL               ICRA A4      23      Reaffirmed
Ltd
Seeds & Grains India Pvt Ltd            Short- term FBL       ICRA A4      440     Reaffirmed
Seeds & Grains India Pvt Ltd            NFBL                  ICRA A4      50      Reaffirmed
Shri Tradco Deesan Pvt Ltd              ST - Non Fund Based   ICRA A2      50      Reaffirmed
Spa Heights Pvt Ltd                     Non FBL               ICRA A4      120     Reaffirmed
Supertex Woven Industries               FBL                   ICRA]A4      19.5    Reaffirmed
Supertex Woven Industries               Non-FBL               ICRA]A4      20      Reaffirmed
Ufo Moviez India Ltd                    ST, non-FBL           ICRA A1+     100     Reaffirmed
Vikrant Extrusion                       Non-FBL               ICRA A4      20      Reaffirmed
Vishindas Holaram                       ST - FBL              ICRA A1+     1500    Reaffirmed
Zenith Exports Ltd                      FBL                   ICRA A4              Reaffirmed
Zenith Exports Ltd                      Non FBL               ICRA A4              Reaffirmed
Zenith Exports Ltd                      Unallocated Limits    ICRA A4              Reaffirmed

LONG TERM RATINGS:
-------------------
Adg Agrotech Pvt Ltd                    FB Limits             ICRA B       50      Reaffirmed
Asirvad Microfinance Ltd                PTC Series A1         ICRA A+(SO)          upgraded
-Antiope Ifmr Capital 2016                                                         from ICRA A-
Asirvad Microfinance Ltd                PTC Series A2         ICRA                 upgraded
-Antiope Ifmr Capital 2016                                    BBB+(SO)             from ICRA
                                                                                   BBB-(SO)
Auraya Healthcare                       FB – CC               ICRA BB-     30      Upgraded
                                                                                   from ICRA B+
Auraya Healthcare                       FB – TL               ICRA BB-     45      Upgraded
                                                                                   from ICRA B+
Bajaj Allianz General                   CPA                   iAAA                 Reaffirmed
Insurance Co. Ltd
Banox Exim Pvt Ltd                      FB Limits             ICRA BBB     100     Reaffirmed
Banox Exim Pvt Ltd                      LT Unallocated Limit  ICRA BBB     18.3    Reaffirmed
Bansal Fine Foods Pvt Ltd               CC                    ICRA BB      300     Reaffirmed
Bata India Ltd                          Non Fund Based        ICRA AA+     310     Reaffirmed
Creative Thermolite Power Pvt.          Non-fund based – LT   ICRA B       540     Reaffirmed
Ltd.
Ds Spiceco Pvt Ltd                      Fund based :CC        ICRA A(S)    100     Reaffirmed
                                        (backed by Letter of
                                        Comfort)
Ds Spiceco Pvt Ltd                      Fund based: TL        ICRA A(S)    300     Reaffirmed
Ds Spiceco Pvt Ltd                      Fund based: CC        ICRA A+(SO)  500     Reaffirmed
                                        (backed by Corporate
                                        Guarantee)
Ganeshprasad Impex Pvt. Ltd.            LT FBL                ICRA B               Reaffirmed
Ganeshprasad Impex Pvt. Ltd.            Unallocated Limits    ICRA B       123.8   Reaffirmed
                                                              /ICRA A4
Gemtree Natural Produce Pvt Ltd         FB Limits             ICRA BB      130     Revised from
                                                                                   ICRA BB-
Gemtree Natural Produce Pvt Ltd         Unallocated Limits    ICRA BB      20      Revised from
                                                                                   ICRA BB-
Gsp International                       FBL                   ICRA B       200     Reaffirmed
Hare Krishna Metallics Pvt Ltd          LT – Fund Based       ICRA BBB-    170     Downgraded
                                                                                   from ICRA BBB
Hare Krishna Metallics Pvt Ltd          LT – TL               ICRA BBB-            Downgraded
                                                                                   from ICRA BBB
Hare Krishna Metallics Pvt Ltd          LT – Unallocated      ICRA BBB-    56.2    Downgraded
                                                                                   from ICRA BBB
Honest Derivatives Pvt Ltd              LT – TL               ICRA BBB+    155     Reaffirmed
Honest Derivatives Pvt Ltd              LT – CC               ICRA BBB+    550     Reaffirmed
Janta Land Promoters Pvt Ltd            TL                    ICRA BBB     2500    Reaffirmed
Joseph Leslie & Company Llp             LT FBL                ICRA B+      52.5    Reaffirmed
Kamman Corporation                      CC (CC)               ICRA BB+             Reaffirmed
Legend Ceramic Pvt Ltd                  CC Limits             ICRA B+      40      Upgraded
                                                                                   from ICRA B
Legend Ceramic Pvt Ltd                  TL                    ICRA B+      87.5    Upgraded
                                                                                   from ICRA B
Nandan Sales Corporation                FBL                   ICRA B+      75      Reaffirmed
National Seeds Corporation Ltd          FB Working Capital    ICRA AA      750     Reaffirmed
                                        Limits
Orient Packaging                        FBL                   ICRA BB      60      Reaffirmed
Osia Gems Pvt Ltd                       LT and ST FB Limit    ICRA BB+     550     Reaffirmed
Patel Wood Works & Timber Mart          LT FBL                ICRA B               Reaffirmed
Patel Wood Works & Timber Mart          Unallocated Limits    ICRA B       51      Reaffirmed
                                                              /ICRA A4 
Ritika Vegetable Oil Pvt Ltd            TL                    ICRA BB      24.4    Upgraded
                                                                                   from ICRA BB-
Ritika Vegetable Oil Pvt Ltd            CC (Hyp) Limit        ICRA BB      180     Upgraded
                                                                                   from ICRA BB-
Ritika Vegetable Oil Pvt Ltd            CC (Pledge) Limit –   ICRA BB      39      Upgraded
                                        Against warehouse                          from ICRA BB-
                                        receipts
Robo Equipments And Forgings            CC                    ICRA B+      120     Upgraded
Pvt Ltd                                                                            from ICRA B
Robo Equipments And Forgings            TL                    ICRA B+      10.6    Upgraded
Pvt Ltd                                                                            from ICRA B
Robo Equipments And Forgings            Unallocated Amount    ICRA B+      59.4    Reaffirmed
Pvt Ltd
Roshan Real Estates Pvt Ltd             FB limit              ICRA B+      70      Reaffirmed
S. Gopal Kamath (Cochin) Pvt            LT FBL                ICRA BB      30      Reaffirmed
Ltd
Seeds & Grains India Pvt Ltd            TL                    ICRA BB      70      revised from
                                                                                   ICRA BB-
Shri Tradco Deesan Pvt Ltd              LT – TL               ICRA BBB+    570     Reaffirmed
Shri Tradco Deesan Pvt Ltd              LT – CC               ICRA BBB+    530     Reaffirmed
Spa Heights Pvt Ltd                     FBL                   ICRA B-      120     Reaffirmed
Spa Heights Pvt Ltd                     Unallocated limit     ICRA B- /    30      Reaffirmed
                                                              ICRA A4
Sri Lakshmi Venkateswara                CC                    ICRA B       200     Reaffirmed
Hygienic Foods Pvt Ltd
Sri Lakshmi Venkateswara                TL                    ICRA B       113.3   Reaffirmed
Hygienic Foods Pvt Ltd
Sri Lakshmi Venkateswara                Unallocated Amount    ICRA B       6.7     Reaffirmed
Hygienic Foods Pvt Ltd
Sundaram Finance Ltd -Shri              PTC Series A          ICRA AAA(SO) 1752.9  Assigned
Trust Q
2017
Supertex Woven Industries               FBL                   ICRA BB      110     Reaffirmed
Supertex Woven Industries               Unallocated Limits    ICRA BB /    29.7    Reaffirmed
                                                              ICRA A4
Ufo Moviez India Ltd                    TL                    ICRA AA-     107     Upgraded
                                                                                   from ICRA A+
Ufo Moviez India Ltd                    LT, FBL               ICRA AA-     300     Upgraded
                                                                                   from ICRA A+
Vikrant Extrusion                       FBL                   ICRA BB      50      Upgraded
                                                                                   from ICRA BB-
Vistaar Financial Services Pvt          PTC Series A1         ICRA A+(SO)          Withdrawn
Ltd –Olorun Sbl Ifmr Capital
2015
Vistaar Financial Services Pvt          PTC Series A2         ICRA BBB+(SO)        Withdrawn
Ltd                                                           
-Olorun Sbl Ifmr Capital 2015
--------------------------------------------------------------------------------------------
$: 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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