March 19, 2019 / 10:54 AM / 8 months ago

RPT-ICRA ratings for Indian debt instruments-Mar 19

 (Repeating to add more ratings)
    Mar 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 18, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Deepak Nitrite Ltd                      Non-FBL               ICRA A1+     1700    Reaffirmed
Deepak Nitrite Ltd                      CP                    ICRA A1+     2000    Reaffirmed
Deepak Phenolics Ltd                    Non-FBL -             ICRA A2+     -       Upgraded
                                        Interchangeable                            from ICRA A3+
Exide Industries Ltd                    CP                    ICRA A1+     500     Reaffirmed
Rsal Steel Pvt Ltd                      ST non- FB limits     ICRA D       2065.5
                                        Name of the rated
                                        entity
Rating continues to be in the ‘(Issuer Not Cooperating)’ category 
Tempsens Instruments (I) Pvt.           Non-fund Based – LOC  ICRA A2      55      Upgraded from
Ltd.                                                                               ICRA A3+
Veeramakali Memorial Welfare            ST Fund based         ICRA A4+     650     Assigned
Trust
Welcome Distilleries Pvt. Ltd.          Non Fund Based – BG   ICRA A4      20      Downgraded
                                                                                   from ICRA A4
(Issuer Not Cooperating)
 

LONG TERM RATINGS:
-------------------
Ajay Engicone Pvt. Ltd.                 Fund based-TL         ICRA D       2.8
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ajay Engicone Pvt. Ltd.                 Fund based-CC         ICRA D       12.5
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ajay Engicone Pvt. Ltd.                 Non fund based- BG    ICRA D       84.7
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Andhra Expressway Pvt Ltd               Non-fund based        ICRA AA      279.2   Reaffirmed
Andhra Expressway Pvt Ltd               Fund based-TL         ICRA AA      150     Reaffirmed
Bharatiyam Foods And Beverages          FB - TL               ICRA BB      500
Pvt. Ltd.
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Bharatiyam Foods And Beverages          FB - CC               ICRA BB      40
Pvt. Ltd.
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Deepak Nitrite Ltd                      TL                    ICRA A+      2770    Reaffirmed
Deepak Nitrite Ltd                      FBL                   ICRA A+      3000    Reaffirmed
Deepak Nitrite Ltd                      Fund & Non-FBL        ICRA A+      2000    Reaffirmed
                                        (Interchangeable)     /ICRA A1+
Deepak Phenolics Ltd                    Non-FBL -             -            -       -
                                        Interchangeable
Deepak Phenolics Ltd                    TL                    ICRA A-      8400    Upgraded
                                                                                   from ICRA BBB
Deepak Phenolics Ltd                    FBL - CC^             ICRA A-      4800    Upgraded
                                                                                   from ICRA BBB
^ utilisation of fund based limits would not exceed Rs. 450 crore at any point of time
Ecorex Buildtech Pvt Ltd                FB – CC               ICRA C+      20      Withdrawn
Ecorex Buildtech Pvt Ltd                FB Limits –           ICRA C+      150     Withdrawn
                                        optionally
                                        convertible debenture Against Tangible Security
Ecorex Buildtech Pvt Ltd                Untied Limits         ICRA         30      Withdrawn
                                                              C+/ICRA A4
Exide Industries Ltd                    FB Limits             ICRA AAA     3000    Reaffirmed
Exide Industries Ltd                    Non-FBL               ICRA AAA     7000    Reaffirmed
Jalannagar Development Pvt.             FB-working capital FacICRA D       56.1    Assigned
Ltd.
Jalannagar Development Pvt.             FB-TL                 ICRA D       31.1    Assigned
Ltd.
Jalannagar Development Pvt.             Unallocated limits    ICRA D       12.8    Assigned
Ltd.
Jana Holdings Ltd                       NCDs                  PP-MLD ICRA  7500    Revised from
                                                              B+                   PP-MLD ICRA
                                                                                   BB-
Jana Small Finance Bank Ltd             LT Bk Fac             ICRA BBB-    2700    Revised from
                                                                                   ICRA BBB
Jana Small Finance Bank Ltd             NCDs                  ICRA BBB-    25650   Revised from
                                                                                   ICRA BBB
Jana Small Finance Bank Ltd             Subordinated Debt     ICRA BBB-    7510    Revised from
                                                                                   ICRA BBB
Rajahmundry Expressway Pvt Ltd          Non-fund based        ICRA AA      296.2   Reaffirmed
Rajahmundry Expressway Pvt Ltd          Fund based-TL         ICRA AA      160     Reaffirmed
Rsal Steel Pvt Ltd                      LT fund- based limits ICRA D       705.2
Rating continues to be in the ‘(Issuer Not Cooperating)’ category
Shapoorji Pallonji Pandoh               TL                    ICRA A-      13919   Reaffirmed
Takoli Highway Pvt Ltd
Shapoorji Pallonji Pandoh               Non-fund based        ICRA A-      1302    Reaffirmed
Takoli Highway Pvt Ltd                  facility
Simran Farms Ltd                        FB – CC               ICRA BB      100     Withdrawn
Spandana Sphoorty Financial             PTC Series A          ICRA A+(SO)  2239.5  Confirmed as
Ltd -Keerthana 01 2019                                                             final
Tempsens Instruments (I) Pvt.           Fund based – CC       ICRA BBB+    255     Upgrade from
Ltd.                                                                               ICRA BBB
Tempsens Instruments (I) Pvt.           Fund based – TL       ICRA BBB+    131     Upgrade from
Ltd.                                                                               ICRA BBB
Tempsens Instruments (I) Pvt.           Non-fund Based – BG   ICRA BBB+    45      Upgrade from
Ltd.                                                                               ICRA BBB
Tempsens Instruments (I) Pvt.           Unallocated           ICRA BBB+    14      Upgrade from
Ltd.                                                                               ICRA BBB
Veeramakali Memorial Welfare            LT Fund based TL      ICRA BB+     1736.5  Assigned
Trust
Veeramakali Memorial Welfare            LT – Unallocated      ICRA BB+     413.5   Assigned
Trust
Wave Beverages Pvt Ltd                  LT - Fund Based/TL    ICRA BB+     174.4
(Issuer Not Cooperating)
Wave Beverages Pvt Ltd                  LT - Fund             ICRA BB+     350
                                        Based/Working capital
(Issuer Not Cooperating)
Wave Beverages Pvt Ltd                  Unallocated           ICRA BB+     -
(Issuer Not Cooperating)
Welcome Distilleries Pvt. Ltd.          Fund Based – CC       ICRA B+      150     Downgraded
                                                                                   from ICRA BB+
(Issuer Not Cooperating)
Welcome Distilleries Pvt. Ltd.          Fund Based – Stand by ICRA B+      18      Downgraded
                                        line of credit                             from ICRA BB+
(Issuer Not Cooperating)
Welcome Distilleries Pvt. Ltd.          Untied Limits         ICRA B+ /    132     Downgraded
                                                              ICRA A4              from ICRA
                                                                                   BB+/ICRA A4+
(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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