January 23, 2019 / 11:09 AM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Jan 23

 (Repeating to add additional ratings)
    Jan 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 22, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ctr Manufacturing Industries            ST FB                 ICRA A1      100     Reaffirmed
Ltd
Ctr Manufacturing Industries            ST Non-FB             ICRA A1      520     Reaffirmed
Ltd
Hy-Gro Chemicals Pharmtek Pvt.          Fund based –          ICRA A3+     150     Reaffirmed
Ltd                                     PCFC/FDBD/IDDBP
Hy-Gro Chemicals Pharmtek Pvt.          Non-Fund Based        ICRA A3+     102.5   Reaffirmed -
Ltd
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     55000   outstanding
Kaveri Plasto Containers Pvt            ST-LOC                ICRA A4+     -       Upgraded
Ltd                                                                                from ICRA A4
Priyanka Refineries Pvt Ltd             ST: BG                ICRA A4+     10      Reaffirmed
Sks Fasteners Ltd                       Non-fund Based - LOC  ICRA A3+     222.5   Upgraded
                                                                                   from ICRA A3
Spunweb Nonwoven Pvt. Ltd.              Non fund based-BG     ICRA A4      4.5     Withdrawn
Umiya Industries                        ST, Non-Fund Based    ICRA A4      30      -
                                        LOC/Buyers Credit
                                        Limits
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
United Office Systems Pvt Ltd           ST FB                 -            0       Reaffirmed
United Office Systems Pvt Ltd           ST FB^                ICRA A2      -       Reaffirmed
United Office Systems Pvt Ltd           ST Non-fund Based     ICRA A2      60      Reaffirmed
Aishwaryagiri Constructions             ST – Non-FBL          ICRA A4      150     -
Pvt Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
K G N Electricals                       ST – Non-FBL          ICRA A4      200     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
M.G.M Springs Pvt Ltd                   ST - Non-fund based   ICRA A4      32.5    -
(Reason for delay in carrying out periodic review: - Review process is underway)
 

LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCD                   ICRA AA-(SO) 26850   Outstanding
Ltd
Aasan Corporate Solutions Pvt           TL                    ICRA BBB     4500    Outstanding
Ltd
Aasan Corporate Solutions Pvt           TL – Lease Rental     ICRA BBB(SO) 4000    Outstanding
Ltd                                     Discounting (LRD)
Aasan Corporate Solutions Pvt           TL – Loan Against     ICRA BBB(SO) 1000    Outstanding
Ltd                                     Property (LAP)
Aasan Corporate Solutions Pvt           NCD                   Provisional  3500    Assigned
Ltd                                                           ICRA AA-(SO)
Ctr Manufacturing Industries            LT – Fund based TL    -            -       -
Ltd
Ctr Manufacturing Industries            LT FB- CC             ICRA A       520     Reaffirmed
Ltd
Ctr Manufacturing Industries            LT/ ST – Unallocated  ICRA A /     200     Reaffirmed
Ltd                                     Limits                ICRA A1
Dax Agri Impex                          Fund based- CC        ICRA B+      145     Withdrawn
Dax Agri Impex                          Fund based- TL        ICRA B+      15      Withdrawn
Deorani Devi Memorial Trust             Fund basedTL          ICRA D       141.3   Reassigned
                                                                                   from ICRA B+
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Deorani Devi Memorial Trust             Untied Limit          ICRA D /     8.7     Reassigned
                                                              ICRA D               from ICRA B+
                                                                                   / ICRA A4
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Embassy Office Parks Reit               Proposed NCDs         Provisional  50000   Assigned
(Embassy Office Parks                                         ICRA AAA
Management Services Pvt Ltd)
Hy-Gro Chemicals Pharmtek Pvt.          Non-Fund Based        -            0       -
Ltd
Hy-Gro Chemicals Pharmtek Pvt.          Fund based – CC       ICRA BBB     50      Reaffirmed
Ltd
Hy-Gro Chemicals Pharmtek Pvt.          Fund based- TL        ICRA BBB     6       Reaffirmed
Ltd
Iifl Wealth Finance Ltd                 NCD Programme         ICRA AA      7000    Assigned
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      6500    outstanding
                                        programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   32500   outstanding
                                        protected market      AA
                                        linked debenture programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   10000   outstanding
                                        protected market      AA
                                        linked debenture programme
India Infoline Finance Ltd              PTC Series A          ICRA AAA(SO) 4602.2  -
confirmed as final
Kaveri Plasto Containers Pvt            Unallocated           -            0
Ltd
Kaveri Plasto Containers Pvt            LT-CC                 ICRA BB      50      Upgraded
Ltd                                                                                from ICRA BB-
Kaveri Plasto Containers Pvt            LT-TL                 ICRA BB      61.8    Upgraded
Ltd                                                                                from ICRA BB-
Priyanka Refineries Pvt Ltd             LT: CC limits         ICRA BB+     297     Reaffirmed
Priyanka Refineries Pvt Ltd             LT/ST: Unallocated    ICRA BB+     3       ICRA A4+
Shreepati Jewels                        LT, FB TL limits      ICRA D       1000    -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Sitaram India Ltd                       CC                    ICRA BB+     100     Assigned
Sks Fasteners Ltd                       FB - CC               ICRA BBB     105     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Sks Fasteners Ltd                       FB - TL               ICRA BBB     231.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Sprng Energy Pvt. Ltd.                  LT - Non-FB Fac       ICRA A-(S)   6000    Assigned
Spunweb Nonwoven Pvt. Ltd.              Fund based- CC        ICRA B+      65      Withdrawn
Spunweb Nonwoven Pvt. Ltd.              Fund based- TL        ICRA B+      80.4    Withdrawn
Spunweb Nonwoven Pvt. Ltd.              Unallocated           ICRA B+ /    0.6     Withdrawn
                                                              ICRA A4
Tamilnadu Transport                     CC                    ICRA BBB +   7500    Withdrawn
Development Finance                                           (SO)
Corporation Ltd
Umiya Industries                        LT, FB Limits –       ICRA B       30      -
                                        Overdraft Limits
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
United Office Systems Pvt Ltd           LT FB - CC            ICRA BBB+    100     Reaffirmed
United Office Systems Pvt Ltd           LT FB - TL            ICRA BBB+    60.2    Reaffirmed
United Office Systems Pvt Ltd           LT/ST Unallocated     ICRA         -       Reaffirmed
                                        Limits                BBB+/ICRA A2
Vasundhara Developers                   TL                    ICRA B       100     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Aishwaryagiri Constructions             LT – FB limits        ICRA B+      300     -
Pvt Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
K G N Electricals                       LT – FB limits        ICRA B+      50      -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Kssb Hi-Tech Rice Industries            Fund Based            ICRA BB-     78.5    -
(Reason for delay in carrying out periodic review: - Issuer delayed in sharing information)
Kssb Hi-Tech Rice Industries            Unallocated           ICRA BB-     71.5    -
(Reason for delay in carrying out periodic review: - Issuer delayed in sharing information)
M.G.M Springs Pvt Ltd                   LT - Fund based       ICRA BB-     52      -
(Reason for delay in carrying out periodic review: - Review process is underway)
M.G.M Springs Pvt Ltd                   LT - Proposed Limits  ICRA BB-     15.5    -
(Reason for delay in carrying out periodic review: - Review process is underway)
Ocean Constructions (India)             LT – FB limits        ICRA B+      120     -
Pvt Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Ocean Constructions (India)             LT – TL               ICRA B+      65      -
Pvt Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Ocean Constructions (India)             LT – Non-FBL          ICRA B+      165     -
Pvt Ltd
(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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