August 11, 2017 / 11:52 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Aug 11

 (Repeating to add more ratings)
   Aug 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 10, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Apollo International Ltd                FB Fac                ICRA A3+     890.5   Revised from
                                                                                   ICRA A2+
(enhanced from 84.25crs)
Bapuji Education Association            ST Non Fund Based     ICRA A1+     400
Review process is underway
Bartaman Pvt Ltd                        Non FB Limits         ICRA A1      79.2    Reaffirmed
Rahee Track Technologies Pvt            Fund based- Working   ICRA A4+             Upgraded
Ltd                                     Capital Demand Loan #                      from ICRA BB
#sub-limit of CC
Rahee Track Technologies Pvt            Fund based- Export    ICRA A4+             Upgraded
Ltd                                     Packing                                    from ICRA BB
                                        Credit/Packing Credit in Foreign Currency #
#sub-limit of CC
Rahee Track Technologies Pvt            Fund based - Foreign  ICRA A4+             Upgraded
Ltd                                     Usance Bills                               from ICRA BB
                                        Discounting /Foreign Bills 
                                        Purchased/Post
                                        Shipment Credit 
                                        in Foreign Currency #
#sub-limit of CC
Rahee Track Technologies Pvt            Fund based - Buyer's  ICRA A4+             Upgraded
Ltd                                     credit (sub-limit of                       from ICRA BB
                                        LC)
Rahee Track Technologies Pvt            Non-fund based - BG   ICRA A4+             Upgraded
Ltd                                                                                from ICRA BB
Rahee Track Technologies Pvt            Non-fund based -      ICRA A4+             Upgraded
Ltd                                     Counter BG (sub-limit                      from ICRA BB
                                        of CC)
Rahee Track Technologies Pvt            Sub-limit: LOC        ICRA A4+             Upgraded
Ltd                                     (sublimit of BG)                           from ICRA BB
Rahee Track Technologies Pvt            Non-fund based        ICRA A4+             Upgraded
Ltd                                     –Derivative                                from ICRA BB
Rahee Track Technologies Pvt            Non fund based - BG   ICRA A4+             Assigned
Ltd                                     (sub-limit of CC)
Bharat Seats Ltd                        ST non fund based     ICRA A2+     216     Upgraded
                                                                                   from ICRA A2
Bhartiya Alloys & Steel Cast            ST Non Fund Based     ICRA A4      2.5     ISSUER NOT
Ltd                                                                                COOPERATING
Borosil Glass Works Ltd                 ST- LOC/Buyers Credit ICRA A1+     300     Assigned
Cochin Minerals And Rutile Ltd          ST – Non-FB Fac       ICRA D       414     ISSUER NOT
                                                                                   COOPERATING
Crescent Petrochem Pvt Ltd              Non-FBL               ICRA A3+     100     Reaffirmed
(enhanced from Rs. 6.00 crore)
Garware-Wall Ropes Ltd                  CP                    ICRA A1+     150     Reaffirmed
Grentex & Company Pvt Ltd               FBL                   ICRA A3+     100     Reaffirmed
Grentex & Company Pvt Ltd               Non-FBL               ICRA A3+     100     Reaffirmed
Indo Count Industries Ltd               ST non-FBL            ICRA A1+     2300    Reaffirmed
K. Venkata Ramana Murthy &              Non FB Limits         ICRA A4      10      Assigned
Others
Kotak Mahindra Asset                    Kotak Floater ST Fund ICRA A1+mfs  -       Reaffirmed
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Liquid Fund     ICRA A1+mfs  -       Reaffirmed
Management Co. Ltd
Mahindra Asset Management               Mahindra Liquid Fund  ICRA A1+mfs  -       Reaffirmed
Company Pvt Ltd
Premier Conveyors Pvt Ltd               Non-fund based- LOC   ICRA A4      21.5    Withdrawn
S. P. Jaiswal Estates Pvt Ltd           Non-FBL               ICRA A4      20      Reaffirmed
Sims Ceramic Pvt Ltd                    Non-fund based BG     ICRA A2+     46.6    Withdrawn
Sims Ceramic Pvt Ltd                    Non-fund based LOC    ICRA A2+     100     Withdrawn
Sims Ceramic Pvt Ltd                    Non-fund based Credit ICRA A2+     12.5    Withdrawn
                                        Exposure Limit
Superhouse Ltd                          Non-FB Fac            ICRA A2      685     Reaffirmed
(earlier 68.50crs)
Suryoday Small Finance Bank Ltd         Social Performance    SP2          -       Withdrawal
                                        Assessment
Swayamprabha Udyam & Company            ST FB                 ICRA A4      67.5    Reaffirmed
Titan Time Products Ltd                 Non-fund based – ST   ICRA A1+     15      Reaffirmed
Uneecops Technologies Ltd               Non FB BG             ICRA A3      135     Reaffirmed

LONG TERM RATINGS:
-------------------
Aegis Business Ltd                      Bk Fac                ICRA D/      585
                                                              ICRA D
Review process is underway
Bapuji Education Association            LT Fund Based         ICRA A+      700
Review process is underway
Bartaman Pvt Ltd                        FB Limits             ICRA A+      57.5    Upgraded
                                                                                   from ICRA A
Bartaman Pvt Ltd                        Untied Limits         ICRA A+ /    70.8    Reaffirmed
                                                              ICRA A1;
Eastern Gases Ltd                       Bk Fac                ICRA]BBB-    470
                                                              /ICRA A3
Issuer not cooperating
Mangaldeep Cold Storage                 BLR                   ICRA B       69.5
Issuer not cooperating
Rahee Track Technologies Pvt            FB- TL                ICRA BB+             Assigned
Ltd
Rahee Track Technologies Pvt            FB- CC                ICRA BB+             Assigned
Ltd
The Krishna Sahakari Sakkare            LT - Fund Based (CC)  ICRA B+      100
Karkhane Niyamit
Issuer delayed in giving information

Alsthom Industries Ltd                  TL                    Prov ICRA    500     Reassigned
                                                              AA(SO)               from ICRA BBB
Alsthom Industries Ltd                  FB facility           Prov ICRA    100     Assigned
                                                              AA(SO)
Apollo International Ltd                Non FB Fac            ICRA BBB     2347.5  Revised from
                                                              /ICRA A3+            ICRA BBB+
                                                                                   /ICRA A2+
Apollo International Ltd                Unallocated           ICRA BBB     183.5   Revised from
                                                              /ICRA A3+            ICRA BBB+
                                                                                   /ICRA A2+
(reduced from 23.15crs)
Bharat Seats Ltd                        LT fund based CC      ICRA BBB+    352     Upgraded
                                                                                   from ICRA BBB
Bharat Seats Ltd                        LT fund based TL      ICRA BBB+    207     Upgraded
                                                                                   from ICRA BBB
Bharat Seats Ltd                        LT/ ST unallocated    ICRA BBB+    341.2   Upgraded
                                                              /ICRA A2+            from ICRA
                                                                                   BBB /ICRA A2
Bhartiya Alloys & Steel Cast            LT Fund Based^        ICRA B+      112.5   ISSUER NOT
Ltd                                                                                COOPERATING
^Instrument details are provided in Annexure-1
Borosil Glass Works Ltd                 LT- FB – Overdraft    ICRA A+      100     Assigned
Cochin Minerals And Rutile Ltd          TL                    ICRA D       289.7   ISSUER NOT
                                                                                   COOPERATING
Cochin Minerals And Rutile Ltd          LT – FB Limits        ICRA D       365     ISSUER NOT
                                                                                   COOPERATING
Crescent Petrochem Pvt Ltd              Fund Based- CC Limit  ICRA BBB     55      Reaffirmed
Crescent Petrochem Pvt Ltd              Unallocated Limited   ICRA BBB     45      Reaffirmed
                                                              /ICRA A3+
(reduced from Rs. 8.50 crore)
Disha Communications Pvt Ltd            Fund Based – CC       ICRA BB+     71      Reaffirmed
Disha Communications Pvt Ltd            Non-fund Based – BG   ICRA BB+     4       Reaffirmed
Garware-Wall Ropes Ltd                  FB Bk Fac             ICRA AA-     1453.9  Reaffirmed
Garware-Wall Ropes Ltd                  Non-fund based Bk Fac ICRA AA- /   1350    Reaffirmed
                                                              ICRA A1+
Gmr Tambaram Tindivanam                 TL                    ICRA BBB-    1092.3  Reaffirmed
Expressways Ltd.
(earlier 168.43crs)
Gmr Tambaram Tindivanam                 Non-FBL               ICRA BBB-    1050    Reaffirmed
Expressways Ltd.
Gmr Tuni Anakapalli                     TL                    ICRA BBB-    855.9   Reaffirmed
Expressways Ltd.
(earlier 130.70crs)
Gmr Tuni Anakapalli                     Non-FBL               ICRA BBB-    450     Reaffirmed
Expressways Ltd.
Grentex & Company Pvt Ltd               Unallocated Limits    ICRA BBB     150     Reaffirmed
                                                              /ICRA A3+
Gruh Finance Ltd                        LT debt programme     ICRA AAA     5000    Assigned
Gudivada Municipality                   Issuer Rating         IrBB         -       Assigned
Icici Bank Ltd                          Basel III Complaint   ICRA         100000  Assigned
                                        Tier I Bonds ProgrammeAA+(hyb)
Indo Count Industries Ltd               FB limits             ICRA AA-     5250    Reaffirmed
Indo Count Industries Ltd               TL                    ICRA AA-     3220.1  Reaffirmed
K. Venkata Ramana Murthy &              FB Limits             ICRA B+      74.5    Assigned
Others
K. Venkata Ramana Murthy &              Unallocated           ICRA B+      55.5    Assigned
Others                                                        /ICRA A4
Kay Fincorp Pvt. Ltd.                   PTC Series A1         ICRA A(SO)   -       Withdrawn
(Formerly Ess Kay Auto Finance
Pvt. Ltd.)

Kiwi Wines And Beverages Pvt            LT: CC                ICRA BB      700     Withdrawn
Ltd
ISSUER NOT COOPERATING
Kotak Mahindra Asset                    Kotak Bond ST Fund    ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Flexi Debt      ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Scheme
Kotak Mahindra Asset                    Kotak Treasury        ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Advantage Fund
Kotak Mahindra Asset                    Kotak Corporate Bond  ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Bond Fund       ICRA AAAmfs  -       Reaffirmed
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Bking and PSU   ICRA AAAmfs  -       Reassigned
Management Co. Ltd                      Debt Fund                                  from ICRA
                                                                                   A1+mfs
Krishnapoultry Tex Mill India           FB – CC               ICRA BB-     54      Reaffirmed
Pvt Ltd
Krishnapoultry Tex Mill India           FB – TL               ICRA BB-     51.5    Reaffirmed
Pvt Ltd
Krishnapoultry Tex Mill India           Unallocated limits    ICRA BB-     14.5    Reaffirmed
Pvt Ltd
Manidhara Realty                        FB – Demand Loan      ICRA BB-     145     Withdrawn
Payne Realtors Pvt Ltd                  TL                    ICRA         275     Reassigned
                                                              BBB-(SO)             from ICRA BBB
Premier Conveyors Pvt Ltd               Fund based- CC        ICRA B       27.5    Withdrawn
Prius Commercial Projects Pvt           TL                    ICRA         4240    Reassigned
Ltd                                                           BBB-(SO)             from ICRA BBB
S. P. Jaiswal Estates Pvt Ltd           FB Limits             ICRA B+      389     Reaffirmed
S. P. Jaiswal Estates Pvt Ltd           Unallocated Limits    ICRA B+ /    241     Reaffirmed
                                                              ICRA A4
Shrimati Jankidevi Educational          TL Limit              ICRA BB-     87.6    Withdrawn
Trust
Shrimati Jankidevi Educational          Unallocated Limits    ICRA BB-     128.4   Withdrawn
Trust
Sims Ceramic Pvt Ltd                    FB CC                 ICRA A-      500     Withdrawn
Sims Ceramic Pvt Ltd                    FB TL                 ICRA A-      490.9   Withdrawn
Smith Structures (India) Pvt            FB – CC               ICRA B+      90      Reaffirmed
Ltd
Sri Lakshmi Srinivasa Hi-Tech           LT – TL               ICRA B+      23.7    Reaffirmed
Industries
(revised from 3.70CRS)
Sri Lakshmi Srinivasa Hi-Tech           LT – FB CC            ICRA B+      120     Reaffirmed
Industries
Sri Lakshmi Srinivasa Hi-Tech           LT – Unallocated      ICRA B+      13.3    Reaffirmed
Industries                              Limits
Superhouse Ltd                          FB Fac                ICRA BBB+    1750    Reaffirmed
earlier 165crs
Superhouse Ltd                          TL                    ICRA BBB+    603.7   Reaffirmed
(earlier 43.33crs)
Superhouse Ltd                          Unallocated           ICRA BBB+    16.6    Reaffirmed
Swayamprabha Udyam & Company            LT FB                 ICRA B+      20      Assigned
Tata Hitachi Construction               Fund based/ non- fund ICRA A+      9000    Reaffirmed
Machinery Company Pvt Ltd               based
                                        (interchangeable) Fac
Titan Time Products Ltd                 FB – LT               ICRA AA      10      Reaffirmed
Uneecops Technologies Ltd               FB – TL               ICRA BBB-    6       Reaffirmed
Uneecops Technologies Ltd               FB – CC               ICRA BBB-    122     Reaffirmed
Uneecops Technologies Ltd               Unallocated Limits    ICRA BBB-    37      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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below