June 20, 2017 / 12:35 PM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Jun 20

 (Repeating to add additional ratings as of June 19, 2017)
    Jun 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 19, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aarey Drugs & Pharmaceuticals           Non FBL               ICRA A4      150     Reaffirmed
Ltd
Kemco Corporation                       ST- Non Fund based    ICRA A4+     240     upgraded
                                                                                   from ICRA A4
Kemco Corporation                       ST interchangeable    ICRA A4+             upgraded
                                                                                   from ICRA A4
Mosaic India Pvt Ltd                    ST, fund based Bk     ICRA A1+     6900    Reaffirmed
                                        Fac(Incl. Unallocated
                                        Limits of Rs. 115 crore)
Mosaic India Pvt Ltd                    CP                    ICRA A1+     2000    Reaffirmed
Myk Spinning Industries Pvt Ltd         ST: Non-FB Fac        ICRA A3      45      Reaffirmed
Parasakti Cement Industries Ltd         ST: Non-FB Fac        ICRA A2+     365     Upgradedfrom
                                                                                   ICRA A2
Parasakti Cement Industries Ltd         ST: Non-FB Fac        ICRA A2+             Upgradedfrom
                                        (sub-limits)                               ICRA A2
Prasad Corporation Pvt Ltd              ST- Fund based        ICRA A4      40      Assigned
Prasad Corporation Pvt Ltd              ST- Non Fund based    ICRA A4      30      Assigned
Prasad Corporation Pvt Ltd              ST- Interchangeble    ICRA A4              Assigned
Regency Ispat Pvt Ltd                   ST non fund based     ICRA A3              Reaffirmed
Unitech Cotspin Ltd                     Non Fund based BG     ICRA A4      15      Reaffirmed
Ekta Electricals                        BG                    ICRA A4      40      Assigned
Motherhood Institute Of                 ST Non-fund Based     ICRA A4      37.5    Upgraded
Management & Technology Society                                                    from ICRA D
Rbbr Infrastructure Pvt Ltd             Non FB –LOC           ICRA A4      5       Reaffirmed


LONG TERM RATINGS:
-------------------
Aai Krupa Cotton Industries             LT, Fund based –TL    ICRA D       17      Downgraded
                                                                                   from ICRA B
Aai Krupa Cotton Industries             LT, Fund based –CC    ICRA D       50      Downgraded
                                                                                   from ICRA B
Aarey Drugs & Pharmaceuticals           FBL - Cash Credit     ICRA BB-     300     Reaffirmed
Ltd
Aasu Exim Pvt Ltd                       Bk loans              ICRA B+/     60      Assigned
                                                              ICRA A4
Abhishek Automotives Pvt Ltd            BLR                   ICRA B       100     -
Accord Motors                           BLR                   ICRA BB-     100     -
Aditya Constructions                    Unallocated Limit     ICRA B       100     Reaffirmed
                                                              /ICRA A4 
Anandalok Hospital                      FBL                   ICRA D       121     Downgraded
                                                                                   from ICRA BB
Anandalok Hospital                      Non FB limits         ICRA D       4       Downgraded
                                                                                   from ICRA BB
Aryan Construction                      LT FB CC              ICRA BB-     40      Reaffirmed
Aryan Construction                      LT Non-fund Based BG  ICRA BB-     160     Reaffirmed
Bidar City Municipal Council            Issuer Rating         IrBBB-               Assigned
Electropath Services (India)            Bk Loan Rating        ICRA B+ / A4 500     -
Pvt Ltd
Kemco Corporation                       LT- Fund Based        ICRA BB      110     upgraded
                                                                                   from ICRA BB
Kemco Corporation                       LT and ST unallocated ICRA BB/     100     Upgraded
                                        limits                ICRA A4+             from ICRA
                                                                                   BB-/ ICRA A4
Ma Sarada Cold Storage Pvt Ltd          FB –TL                ICRA D       40.1    Reaffirmed
Ma Sarada Cold Storage Pvt Ltd          FB –Working Capital   ICRA D       8       Reaffirmed
Ma Sarada Cold Storage Pvt Ltd          FB –Seasonal CC       ICRA D       7.5     Reaffirmed
Myk Spinning Industries Pvt Ltd         LT: TL                ICRA BBB-    53.8    Reaffirmed
Myk Spinning Industries Pvt Ltd         LT: FB Fac (CC)       ICRA BBB-    80      Reaffirmed
Myk Spinning Industries Pvt Ltd         LT: Fund based        ICRA BBB-    125.3   Reaffirmed
                                        –Unallocated
Orange Renewable Power Pvt.             Rupee TL              ICRA A-      75      upgraded
Ltd.                                                                               from ICRA
                                                                                   BBB+
Orange Renewable Power Pvt.             CC                    ICRA A-      41.1    Assigned
Ltd.
Orange Renewable Power Pvt.             Unallocated           ICRA A-      58.9    upgraded
Ltd.                                                                               from ICRA
                                                                                   BBB+
Parasakti Cement Industries Ltd         LT: FB Fac (CC)       ICRA BBB+    500     Upgradedfrom
                                                                                   ICRA BBB
Parasakti Cement Industries Ltd         LT: Fundbased Fac     ICRA BBB+            Upgradedfrom
                                        (sub-limits)                               ICRA BBB
Parasakti Cement Industries Ltd         LT: Fund based        ICRA BBB+    117     Upgradedfrom
                                        –Unallocated                               ICRA BBB
Prasad Corporation Pvt Ltd              LT- Fund Based        ICRA BB      80      Assigned
Raichur City Municipal Council          Issuer Rating         IrBBB-       -       Assigned
Regency Ispat Pvt Ltd                   LT FBL                ICRA BBB     150     Reaffirmed
Sn Nirman Infra Projects Pvt            TL                    ICRA D       60      Withdrawn
Ltd
Sn Nirman Infra Projects Pvt            Unallocated           ICRA D       372.1   Withdrawn
Ltd
Sonata Finance Pvt Ltd                  NCD Programme         ICRA BBB     250     Assigned
Sonata Finance Pvt Ltd                  NCD Programme         ICRA BBB     3960    Outstanding
Sonata Finance Pvt Ltd                  Fund based Bk lines   ICRA BBB     5000    Outstanding
Sonata Finance Pvt Ltd                  Subordinated Debt     ICRA BBB     150     Outstanding
                                        Programme
Sri Ramalingeswara Modern Rice          CC                    ICRA BB+     600     Reaffirmed
Mill
Sri Ramalingeswara Modern Rice          TL                    ICRA BB+     114     Reaffirmed
Mill
Sri Ramalingeswara Modern Rice          Unallocated Limits    ICRA BB+     16      Reaffirmed
Mill
Sri Venkateswara Aqua Culture           CC                    ICRA B+      120     Reaffirmed
Sri Venkateswara Fertilisers            CC                    ICRA B       150     Reaffirmed
Pvt Ltd
Sri Venkateswara Fertilisers            TL                    ICRA B       119.5   Reaffirmed
Pvt Ltd
Sri Venkateswara Fertilisers            BG                    ICRA B       2       Reaffirmed
Pvt Ltd
Sri Venkateswara Fertilisers            Unallocated Limits    ICRA B/ICRA  58.5    Reaffirmed
Pvt Ltd                                                       A4
Supreme Infra Products                  Supreme Infra         ICRA B       150     Assigned
                                        Proptionally
                                        convertible debentureucts
Tracks And Towers Infratech             LT FBL                ICRA A-      390     Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   BBB+
Tracks And Towers Infratech             LT non-FBL            ICRA A-      2080    Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   BBB+
Tracks And Towers Infratech             LT unallocated limits ICRA A-      1030    Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   BBB+
Tril Amritsar Pvt Ltd                   NCD                   Provisional  1250    Assigned
                                                              ICRA A(SO) 
Unitech Cotspin Ltd                     Fund Based - CC       ICRA B       60      Reaffirmed
Unitech Cotspin Ltd                     Fund Based - TL       ICRA B       243.2   Reaffirmed
Veeraj Construction                     Bk Loan Rating        ICRA B / A4  100     -
Avantis Enterprise                      FBL                   ICRA B+      300     Withdrawn
Centric Steel Ltd                       FB –CC                ICRA BB-     150     Reaffirmed
Ekta Electricals                        CC                    ICRA BB-     20      Assigned
Ekta Electricals                        Unallocated           ICRA BB- /A4 40      Assigned
Hind Rectifiers Ltd                     LT FBL –CC            ICRA BB-     305     Downgraded
                                                                                   from ICRA BB+
Hind Rectifiers Ltd                     NFBL– LOC /BG         ICRA BB- /A4 200     Downgraded
                                                                                   from ICRA
                                                                                   BB+ /A4+
Home First Finance Company              TL                    ICRA A+      13000   Assigned
India Pvt. Ltd
Kalaburagi City Corporation             Issuer Rating         IrBBB                Assigned
Motherhood Institute Of                 LT FB TL (TL)         ICRA B-      50      Upgraded
Management & Technology Society                                                    from ICRA D
Motherhood Institute Of                 LT FB Over Draft      ICRA B-      20      Upgraded
Management & Technology Society         (optionally                                from ICRA D
                                        convertible debenture)
Motherhood Institute Of                 LT Unallocated        ICRA B-      12.5    Upgraded
Management & Technology Society                                                    from ICRA D
Rbbr Infrastructure Pvt Ltd             FB –CC                ICRA B       30      Reaffirmed
Rbbr Infrastructure Pvt Ltd             FB –TL                ICRA B       86.6    Reaffirmed
Rbbr Infrastructure Pvt Ltd             FB –optionally        ICRA B               Reaffirmed
                                        convertible
                                        debenture BD**
** Sublimit of cash credit facility
Rbbr Infrastructure Pvt Ltd             Non FB –BG            ICRA B       17.5    Reaffirmed
Rbbr Infrastructure Pvt Ltd             Unallocated           ICRA B/ A4   10.9    Reaffirmed
Shankar Rice Mill                       FB Limits             ICRA B+      95      Reaffirmed
Sri Sudha Sesamum Agro Foods            FB –TL                ICRA B+      0.4     Reaffirmed
And Exports Pvt Ltd.
Sri Sudha Sesamum Agro Foods            FB –CC                ICRA B+      120     Reaffirmed
And Exports Pvt Ltd.
Sri Sudha Sesamum Agro Foods            Unallocated           ICRA B+      9.6     Reaffirmed
And Exports Pvt Ltd.
Tulsi Constructions                     FB –TL                ICRA B+      79      Withdrawn
Tulsi Constructions                     FB –Unallocated       ICRA B+      60      Withdrawn
Vaishnodevi Realty Pvt Ltd              FB –Demand Loan       ICRA BB-     590     Withdrawn
Vaishnodevi Realty Pvt Ltd              Unallocated limits    ICRA BB-     310     Withdrawn
Velko Infratek Projects Pvt             FB –CC                ICRA BB      40      Reaffirmed
Ltd
Velko Infratek Projects Pvt             NFBL                  ICRA BB      150     Reaffirmed
Ltd
Velko Infratek Projects Pvt             Unallocated           ICRA BB /A4  10      Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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