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RPT-ICRA ratings for Indian debt instruments-Jul 5
July 5, 2017 / 10:36 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 5

 (Repeating to add additional ratings)
    Jul 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 4, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Antique Art Exports Pvt Ltd.            ST FB Limits          ICRA A4      600     Reaffirmed
Bharath Auto Cars Pvt Ltd               ST –FB Fac            ICRA A3      200     Assigned
Bharath Auto Cars Pvt Ltd               ST –Non FB Fac        ICRA A3      50      Assigned
Bms Projects                            Non FB–BG             ICRA A4      40      Reaffirmed
D’Ranflex India Pvt Ltd                 ST -NFBL              ICRA A4      1       Withdrawn
Deepak Industries Ltd                   BG                    ICRA A1+     152.5   Reaffirmed
Deepak Industries Ltd                   LOC                   ICRA A1+     157.5   Reaffirmed
Deepak Industries Ltd                   Forward cover         ICRA A1+     7.5     Reaffirmed
Deepak Industries Ltd                   Standby line of creditICRA A1+     20      Reaffirmed
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     45000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     80000   Outstanding
                                        financing)
Ecl Finance Ltd                         ST Principal          PP-MLD ICRA  9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+             Assigned
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+             Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+             Outstanding
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLDICRA           Outstanding
Ltd                                     Protected Market      A1+;
                                        Linked Debenture Programme
Edelweiss Finance And                   Commercial Paper      ICRA A1+     10000   Assigned
Investments Ltd                         Programme (IPO
                                        financing)
Edelweiss Finance And                   CP Programe           ICRA A1+     10000   Outstanding
Investments Ltd
Edelweiss Finance And                   Commercial Paper      ICRA A1+     25000   Outstanding
Investments Ltd                         Programme (IPO
                                        financing)
Edelweiss Finance And                   ST Principal          PP-MLDICRA   4000    Outstanding
Investments Ltd                         Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Financial Services            Commercial Paper      ICRA A1+     45000   Assigned
Ltd                                     Programme (IPO
                                        financing)
Edelweiss Financial Services            CP Programme          ICRA A1+     50000   Outstanding
Ltd
Edelweiss Financial Services            ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     90000   Outstanding
Ltd                                     financing)
Hobel Bellows Co.                       ST FB                 ICRA A3      75      Withdrawn
Hobel Bellows Co.                       ST NFB                ICRA A3      31      Withdrawn
Hobel Flexibles Inc                     ST FB                 ICRA A3+     35      Withdrawn
Hobel Flexibles Inc                     ST NFB                ICRA A3+     105     Withdrawn
Kribhco Fertilizers Ltd                 CP                    ICRA A1+     6000    Reaffirmed
Kribhco Infrastructure Ltd              Fund Based, ST Fac    ICRA A1+     450     Reaffirmed
Kribhco Infrastructure Ltd              Non-Fund Based, ST FacICRA A1+     100     Reaffirmed
Kribhco Infrastructure Ltd              CP Programme          ICRA A1+     450     Reaffirmed
Krishak Bharati Cooperative Ltd         CP                    ICRA A1+     1000    Reaffirmed
Krishak Bharati Cooperative Ltd         Non-Fund Based, ST FacICRA A1+     12000   Reaffirmed
Le Marble Gallery Pvt Ltd               ST Non Fund Based     ICRA A4      70      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Mridul International Pvt Ltd            ST-Fund Based         ICRA A4+     190     Reaffirmed
Mridul International Pvt Ltd            ST-Non Fund Based     ICRA A4+     48.7    Reaffirmed
Munjal Kiriu Industries Pvt Ltd         CP/ST Debt Programme  ICRA A1      300     Assigned
New Opportunity Consultancy             MFI Grading           M3           -       Assigned
Pvt Ltd
Nupur Carpets                           ST FB Limits          ICRA A4      40      Reaffirmed
Spaceage Associates Power               ST: Non-FBL           ICRA A4      430     Reaffirmed
Infra Pvt Ltd
Sreelekshmi Cashew Company              ST –FB                ICRA A3      420     Reaffirmed
(enhanced from 26.50 CR)
Sreelekshmi Cashew Company              ST –unallocated       ICRA A3      5       Assigned
(previously nil )
Srl Diagnostics Pvt Ltd                 ST fund based^              A2+            Reaffirmed
^Interchangeable with cash credit facilities
Stonemen Crafts India Pvt Ltd           FB Fac-ST             ICRA A4+     55      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Stonemen Crafts India Pvt Ltd           Non-FB Fac            ICRA A4+     200     -
Reason for delay in carrying out periodic review--Issuer not cooperating
Svatantra Microfin Pvt Ltd              MFI Grading           M2           -       Assigned
Unique Forgings (India) Pvt Ltd         NFBL                  ICRA A3+     7.5     Reaffirmed
Virgo Aluminium Ltd                     ST-Non Fund Based     ICRA A2      277.5   -
Reason for delay in carrying out periodic review--Issuer not cooperating


LONG TERM RATINGS:
-------------------
Akshar Ginning & Pressing               LT FB Limits          ICRA B+      80      Reaffirmed
Industries
Antique Art Exports Pvt Ltd.            LT FB Limits          ICRA B       96      Reaffirmed
Barque Hotels Pvt Ltd                   TL                    ICRA BBB     2550    -
Reason for delay in carrying out periodic review--Issuer not cooperating
Baruapara Sk Tea Factory Pvt            Bk Fac                ICRA B       110     -
Ltd
Reason for delay in carrying out periodic review--Issuer not cooperating
Bharath Auto Cars Pvt Ltd               LT –FB CC             ICRA BBB-    205     Reaffirmed
(revised from 9.00 CR)
Bhartiya City Developers Pvt            LT FB Bk Fac          ICRA BBB-    12059.2 Reaffirmed
Ltd
(reduced from 1221.50 CR)
Bhartiya City Developers Pvt            NCD (NCD) Programme   ICRA BBB-    557.5   Withdrawn
Ltd
Bms Projects                            FB –CC                ICRA B-      50      Reaffirmed
Bms Projects                            Unallocated Limits    ICRA B- /    10      Reaffirmed
                                                              ICRA A4
Issuer Not Cooperating
D.R. Buildestate Pvt Ltd                Fund Based Facility   ICRA BB-     5       -
Reason for delay in carrying out periodic review--Issuer not cooperating
D.R. Buildestate Pvt Ltd                NFBF                  ICRA BB-     70      -
Reason for delay in carrying out periodic review--Issuer not cooperating
D’Ranflex India Pvt Ltd                 LT -FBL (CC)          ICRA BB      52.5    Withdrawn
Deepak Industries Ltd                   CC                    ICRA A+      800     Reaffirmed
Deepak Industries Ltd                   TL                    ICRA A+      694.1   Reaffirmed
Dhanuka Extractions Pvt Ltd             FBL                   ICRA BB      170     Revised from
                                                                                         BB-
Ecl Finance Ltd                         NCD Programm          ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA /    110000  Outstanding
                                                              ICRA A1+
Ecl Finance Ltd                         LT Principal          PP - MLD     13500   Outstanding
                                        Protected Market      ICRA AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          Non-Convertible Bond  ICRA AA              Outstanding
Ltd                                     Programme
Edelweiss Commodities Services          Bk Lines              ICRA AA              Outstanding
Ltd
Edelweiss Finance And                   NCD Programme         ICRA AA      12500   Outstanding
Investments Ltd
Edelweiss Finance And                   Subordinated Debt     ICRA AA      500     Outstanding
Investments Ltd                         Programme
Edelweiss Finance And                   Bk Lines              ICRA AA      5000    Outstanding
Investments Ltd
Edelweiss Finance And                   LT Principal          PP-MLDICRA   8000    Outstanding
Investments Ltd                         Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Financial Services            NCD                   ICRA AA      5000    Outstanding
Ltd
Fedora Sea Foods Pvt. Ltd               BLR                   ICRA B+      100     -
Reason for delay in carrying out periodic review--Issuer not cooperating
Gail (India) Ltd                        Non-Convertible Bond  ICRA AAA     5000    Reaffirmed
                                        Programme
Gail (India) Ltd                        LT / ST FB / Non-FBL  ICRA AAA /   2500    Reaffirmed
                                        (Interchangeable)     ICRA A1+
Kare Power Resources Pvt Ltd            FB -TL                ICRA B       1218    Revised from
                                                                                         BB-
Issuer Not Cooperating
Kohinoor Carpets                        LT FB Limits          ICRA B+      150     Reaffirmed
Kohinoor Carpets                        TL                    ICRA B+      41.8    Reaffirmed
Kribhco Fertilizers Ltd                 NCD                   ICRA AA(SO)  2000    Reaffirmed
Kribhco Infrastructure Ltd              TL                    ICRA AA      2900    Reaffirmed
Kribhco Infrastructure Ltd              NCD                   ICRA AA      1250    Reaffirmed
Krishak Bharati Cooperative Ltd         FB, LT Fac            ICRA AA      2800    Reaffirmed
Le Marble Gallery Pvt Ltd               LT Fund Based         ICRA BB      90      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Lj-Victoria Properties Pvt Ltd          FB -TL                ICRA         500     Reaffirmed
                                                              BBB+(SO)
(enhanced from 39 CR)
Mangal Sponge And Steel Pvt Ltd         Bk Fac                ICRA B+ /    355     -
                                                              ICRA A4
Reason for delay in carrying out periodic review--Issuer not cooperating
Motilal Oswal Securities Ltd            NCD                   ICRA AA      500     Reaffirmed
Motilal Oswal Securities Ltd            NCD                   ICRA AA      1500    Assigned
Mridul International Pvt Ltd            Fund Based-TL         ICRA BB+     15.8    Reaffirmed
Mridul International Pvt Ltd            Unallocated Limits    ICRA BB+     88.3    Reaffirmed
Munjal Kiriu Industries Pvt Ltd         TL                    ICRA A       242.4   Outstanding
Munjal Kiriu Industries Pvt Ltd         LT FBL                ICRA A       300     Outstanding
Munjal Kiriu Industries Pvt Ltd         Unallocated Limits    ICRA A       177.6   Outstanding
Nupur Carpets                           LT FB Limits          ICRA B-      48      Reaffirmed
Omkar Realtors Projects Pvt Ltd         NCD                   ICRA BB      1724.9  -
Reason for delay in carrying out periodic review--Issuer not cooperating
Peacock Communications                  LT FB                 ICRA BB      120     Withdrawn
S. K. Exports                           FBL                   ICRA BB-     136     Reaffirmed
S. K. Exports                           Un-tied Limits        ICRA BB-     4       Reaffirmed
                                                              /ICRA A4
Sai Global Yarntex (India)              BLR                   ICRA B+ /    397.3   -
Pvt. Ltd                                                      ICRA A4
Reason for delay in carrying out periodic review--Issuer not cooperating
Shreepati Jewels                        BLR                   ICRA D       1000    -
Reason for delay in carrying out periodic review--Issuer not cooperating
Spaceage Associates Power               LT: FBL               ICRA BB-     135     Reaffirmed
Infra Pvt Ltd
Sreelekshmi Cashew Company              LT –FB                ICRA BBB-    5       Reaffirmed
Srinivasa Rice Industries               FBL                   ICRA BB-     117.5   Upgraded
                                                                                   from ICRA B+
(revised from 12.05 CR)
Srinivasa Rice Industries               Unallocated Limits    ICRA BB-     27.3    Upgraded
                                                              /ICRA A4             from ICRA B+
                                                                                   / Reaffirmed
(enhanced from 0.43 CR)
Srl Ltd                                 FBF                   ICRA A+      240     Reaffirmed
Srl Ltd                                 NFBF                  ICRA A+ /    45      Assigned
                                                              ICRA A1+
^Interchangeable with cash credit facilities
Srl Diagnostics Pvt Ltd                 FB facilitie                A-     150     Reaffirmed
Srl Diagnostics Pvt Ltd                 Non-Fund based Fac          A-     20      Assigned
Ssv Valves                              FBL                   ICRA B+ /    129.1   Reaffirmed
                                                              ICRA A4
Ssv Valves                              Unallocated Limits    ICRA B+ /    17.1    Reaffirmed
                                                              ICRA A4
Stonemen Crafts India Pvt Ltd           FB Fac-LT             ICRA BB+     20      -
Reason for delay in carrying out periodic review--Issuer not cooperating
Stonemen Crafts India Pvt Ltd           TL                    ICRA BB+     43.8    -
Reason for delay in carrying out periodic review--Issuer not cooperating
Stonemen Crafts India Pvt Ltd           Unallocated           ICRA BB+     1.2     -
Reason for delay in carrying out periodic review--Issuer not cooperating
Sunclean Renewable Power Pvt            TL                    ICRA BBB     551.5   Reaffirmed
Ltd
(increased from 45.15 CR)
Tourism Finance Corporation Of          Bond Programme        ICRA A-      1000    -
India Ltd
Reason for delay in carrying out periodic review--Issuer not cooperating
Unique Forgings (India) Pvt Ltd         FBL                   ICRA BBB     82.5    Reaffirmed
Vallabha Feeds Pvt Ltd                  BLR                   ICRA BB-     113     -
Reason for delay in carrying out periodic review--Issuer not cooperating
Vipul Industries Pvt Ltd                BLR                   ICRA BB+     120.4   -
Reason for delay in carrying out periodic review--Issuer not cooperating
Virgo Aluminium Ltd                     LT -TL                ICRA BBB+    29.7    -
Reason for delay in carrying out periodic review--Issuer not cooperating
Virgo Aluminium Ltd                     LT –Fund based CC     ICRA BBB+    222.5   -
Reason for delay in carrying out periodic review--Issuer not cooperating
Virgo Aluminium Ltd                     LT -Unallocated       ICRA BBB+    20.3    -
Reason for delay in carrying out periodic review--Issuer not cooperating
--------------------------------------------------------------------------------------------
$: 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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