February 23, 2017 / 10:37 AM / 9 months ago

ICRA ratings for Indian debt instruments-Feb 23

    Feb 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 22, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
AKS Alloys Pvt Ltd                      ST Non Fund Based     ICRA A4      100     Reaffirmed
Aparna Enterprises Ltd                  ST: Non-FBL           ICRA A2+     100     upgraded
                                                                                   from ICRA A2
Aparna Enterprises Ltd                  LT: Proposed non-FBL  ICRA A2+     50      upgraded
                                                                                   from ICRA A2
Axis Asset Management Co. Ltd           Axis Liquid Fund      ICRA A1+mfs          Reaffirmed
Axis Asset Management Co. Ltd           Axis Treasury         ICRA A1+mfs          Reaffirmed
                                        Advantage Fund
BVL Granites                            ST: Non-FBL (Note)    ICRA A4      10      Reaffirmed;
                                                                                   suspension
                                                                                   revoked
Globe Capital Market Ltd                CP Programme          ICRA A1+     1500    Assigned
enhanced from Rs. 100 crore
NTPC Ltd                                CP/STD                ICRA A1+     40000   Assigned;
                                                                                   outstanding
enhanced from 2,000 CR
NTPC Ltd                                NFBL                  ICRA A1+     50000   outstanding

LONG TERM RATINGS:
-------------------
AKS Alloys Pvt Ltd                      LT Fund Based         ICRA C+      140     Reaffirmed
Aparna Enterprises Ltd                  LT: CC                ICRA BBB+    780     upgraded
                                                                                   from ICRA BBB
Aparna Enterprises Ltd                  LT: TL                ICRA BBB+    945     upgraded
                                                                                   from ICRA BBB
Aparna Enterprises Ltd                  LT: Proposed FBL      ICRA BBB+    625     upgraded
                                                                                   from ICRA BBB
revised from Rs. 67.5 CR
Axis Asset Management Co. Ltd           Axis ST Fund          ICRA AAAmfs          Reaffirmed
Axis Asset Management Co. Ltd           Axis Bking & PSU Debt ICRA AAAmfs          Reaffirmed
                                        Fund
Axis Asset Management Co. Ltd           Axis Capital          ICRA AAAmfs          Reaffirmed
                                        Protection Oriented   (SO)
                                        Fund – Series 5
Bvl Granites                            LT: CC                ICRA BB      300     Reaffirmed;
                                                                                   suspension
                                                                                   revoked
Bvl Granites                            LT: TL                ICRA BB      190     Reaffirmed;
                                                                                   suspension
                                                                                   revoked
Magma ITL Finance Ltd -MIFL             PTC Series A1         ICRA A (SO)          Reaffirmed
Securitisation Trust IX
Magma ITL Finance Ltd -MIFL             PTC Series A2         ICRA A (SO)          Reaffirmed
Securitisation Trust IX
Magma ITL Finance Ltd -MIFL             Liquidity Facility    ICRA AAA             Reaffirmed
Securitisation Trust IX                                       (SO)
Magma ITL Finance Ltd -MIFL             Second Loss Facility  ICRA BBB-            Reaffirmed
Securitisation Trust IX                                       (SO)
Magma ITL Finance Ltd -MIFL             PTC Series A1         ICRA AA (SO)         Reaffirmed
Securitisation Trust VII
Magma ITL Finance Ltd -MIFL             PTC Series A2         ICRA AA (SO)         Reaffirmed
Securitisation Trust VII
Magma ITL Finance Ltd -MIFL             Liquidity Facility    ICRA AAA             Reaffirmed
Securitisation Trust VII                                      (SO)
Magma ITL Finance Ltd -MIFL             Second Loss Facility  ICRA BBB-            Reaffirmed
Securitisation Trust VII                                      (SO)
Magma ITL Finance Ltd -MIFL             PTC Series A2         ICRA AAA             Reaffirmed
Securitisation Trust VIIi                                     (SO)
Magma ITL Finance Ltd -MIFL             Liquidity Facility    ICRA AAA             Reaffirmed
Securitisation Trust VIII                                     (SO)
Magma ITL Finance Ltd -MIFL             PTC Series A1         ICRA BBB-            Reaffirmed
Securitisation Trust VIII                                     (SO)
Magma ITL Finance Ltd -MIFL             Second Loss Facility  ICRA BBB-            Reaffirmed
Securitisation Trust VIII                                     (SO)
NTPC Ltd                                TL                    ICRA AAA     650000  outstanding
NTPC Ltd                                FBL                   ICRA AAA     20000   outstanding
NTPC Ltd                                Bonds Programme       ICRA AAA     100000  outstanding
NTPC Ltd                                Bonds Programme/      ICRA AAA     275453.3outstanding
                                        Bonus Debentures
Rama Paper Mills Ltd                    TL                    ICRA D       538.1   Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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