April 11, 2018 / 11:20 AM / 9 days ago

ICRA ratings for Indian debt instruments-Apr 11

    Apr 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 10, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bandhan Bank Ltd                        CD                    ICRA A1+     15000   Reaffirmed
Dott Services Pvt Ltd                   ST – NFBL             ICRA A4+     363     Assigned
Dott Services Pvt Ltd                   ST - Unallocated      ICRA A4+     637     Assigned
                                        limits
Escorts Heart Institute And             Non-FB Limits         ICRA A4      50      Downgraded
Research Centre Ltd                                                                from ICRA A3
removed from watch with negative implications
Fortis Healthcare Ltd                   CP/ST Debt            ICRA A4      6000    Downgraded
                                                                                   from ICRA A3
rating removed from watch with negative implications
Fortis Healthcare Ltd                   Non-FB Limits         ICRA A4      200     Downgraded
                                                                                   from ICRA A3
rating removed from watch with negative implications
Fortis Hospitals Ltd                    Non-FB Limits         ICRA A4      972     Reassigned
                                                                                   from ICRA
                                                                                   A3(SO)
removed from watch with negative implications
Gmr Hospitality And Retail Ltd          Non Fund Based –      ICRA A1      250     Assigned
                                        Bk Guarantee/ LOC
Hiranandani Healthcare Pvt Ltd          Non-funds-based LimitsICRA A4      0.2     Reassigned
                                                                                   from ICRA
                                                                                   A3(SO)
removed from watch with negative implications
Norex Flavours Pvt Ltd                  ST FBL                ICRA A4      80                   
                                                                   
(Issuer Not Cooperating)
Norex Flavours Pvt Ltd                  ST Non-FBL            ICRA A4      60                   
                                                                     
(Issuer Not Cooperating)
Phillip Finance & Investment            CP programme          ICRA A1      750     Assigned
Services India Pvt Ltd
Shapoorji Pallonji Oil And Gas          CP                    ICRA A1      1000    Assigned
Pvt Ltd
Topline Lamination Pvt Ltd              Non-Fund based        ICRA A4      90
(Issuer Not Cooperating)
Yes Bank Ltd                            CD Programme          ICRA A1+     150000  Assigned
Yes Bank Ltd                            ST Fixed Deposit      ICRA A1+     -       Outstanding
                                        Programme

LONG TERM RATINGS:
-------------------
Balurghat Municipality                  Issuer Rating         ICRA B+      -       Assigned
Bandhan Bank Ltd                        Subordinated Tier II  ICRA AA      1600    Upgraded
                                        NCD                                        from ICRA
                                                                                   AA-
Bandhan Bank Ltd                        TL from Bks           ICRA AA      800     Upgraded
                                                                                   from ICRA
                                                                                   AA-
Canon India Pvt Ltd                     Issuer Rating         ICRA AAA     -       Assigned
City Realty & Development Pvt           LT – TL               ICRA D       3500    Withdrawn
Ltd
Electronica Finance Ltd                 NCD                   ICRA BBB+    530     outstanding
Electronica Finance Ltd                 Subordinated Debt     ICRA BBB+    250     outstanding
                                        Programme
Electronica Finance Ltd                 Bk Lines: Unallocated ICRA BBB+            Withdrawn
                                                              /ICRA A2+
Electronica Finance Ltd                 Bk Lines/CC Facility  ICRA         998.4   outstanding
                                                              BBB+/ICRA
                                                              A2+
Escorts Heart Institute And             TL                    ICRA B+      780     Downgraded
Research Centre Ltd                                                                from ICRA
                                                                                   BBB-
removed from watch with negative implications
Escorts Heart Institute And             FB Limits             ICRA B+      200     Downgraded
Research Centre Ltd                                                                from ICRA
                                                                                   BBB-
removed from watch with negative implications
Fortis Healthcare Ltd                   NCDs                  ICRA C       2500    Downgraded
                                                                                   from ICRA
                                                                                   BBB-
rating removed from watch with negative implications
Fortis Healthcare Ltd                   FB Limits             ICRA C       1050    Downgraded
                                                                                   from ICRA
                                                                                   BBB-
rating removed from watch with negative implications
Fortis Healthcare Ltd                   TL                    ICRA C       1950    Downgraded
                                                                                   from ICRA
                                                                                   BBB-
rating removed from watch with negative implications
Fortis Hospitals Ltd                    TL                    ICRA B+      4178    Reassigned
                                                                                   from ICRA
                                                                                   BBB-
removed from watch with negative implications
Fortis Hospitals Ltd                    FB Limits             ICRA B+      2350    Reassigned
                                                                                   from ICRA
                                                                                   BBB-
removed from watch with negative implications
Fortune Bella Casa (Unit Of             TL                    ICRA B-      150     Issuer Not
Bardiya Construction Company                                                       Cooperating
Pvt Ltd)
Gmr Hospitality And Retail Ltd          Fund based – Working  ICRA A+      50      Assigned
                                        capital
Fac
Gmr Hospitality And Retail Ltd          Unallocated Limits    ICRA A+      58.2    Assigned
                                                              /ICRA A1
Gmr Hospitality And Retail Ltd          Fund based - TL       ICRA AA (SO) 1229.7  Reaffirmed
Hiranandani Healthcare Pvt Ltd          TL                    ICRA B+      429.8   Reassigned
                                                                                   from ICRA
                                                                                   BBB-(SO)
removed from watch with negative implications
Hiranandani Healthcare Pvt Ltd          Overdraft             ICRA B+      30      Reassigned
                                                                                   from ICRA
                                                                                   BBB-(SO)
removed from watch with negative implications
Hooghly-Chinsurah Municipality          Issuer Rating         ICRA BB-     -       Assigned
Maheshwaram Transmission Ltd            TL                    ICRA BBB     3200    Withdrawn
Midnapore Municipality                  Issuer Rating         ICRA BB      -       Assigned
Moti Industries                         -                     -            -       
Removed from the ‘ISSUER NOT COOPERATING’category Submitted its ‘No Default Statement’ (“NDS”)
Nikhil Tobaccos                         LT- CC                ICRA B+      180
(Issuer Not Cooperating)
Nikhil Tobaccos                         LT- Unallocated LimitsICRA B+      20      
(Issuer Not Cooperating)
Norex Flavours Pvt Ltd                  LT FBL                ICRA BB-     205     
(Issuer Not Cooperating)
Northern Arc Capital                    NCDs                  ICRA         100     Withdrawn
Ltd-(Erstwhile Ifmr Capital                                   BBB+(SO)
Finance Ltd)-Intrepid Finance And
Leasing Pvt. Ltd.
Northern Arc Capital                    NCDs                  ICRA         100     Withdrawn
Ltd-(Erstwhile Ifmr Capital                                   BBB+(SO)
Finance Ltd)-Pahal Financial Services
Pvt. Ltd.
Northern Arc Capital                    NCDs                  ICRA         100     Withdrawn
Ltd-(Erstwhile Ifmr Capital                                   BBB+(SO)
Finance Ltd)-Saija Finance Pvt. Ltd.
Northern Arc Capital                    NCDs                  ICRA         100     Withdrawn
Ltd-(Erstwhile Ifmr Capital                                   BBB+(SO)
Finance Ltd)-Samasta Microfinance
Ltd.
Northern Arc Capital                    NCDs                  ICRA         100     Withdrawn
Ltd-(Erstwhile Ifmr Capital                                   BBB+(SO)
Finance Ltd)-Svasti Microfinance Pvt.
Ltd.
Prasanna Technologies Pvt Ltd           Fund Based Non-fund   ICRA BB      40
                                        Based
Review process is underway
Prasanna Technologies Pvt Ltd           Non-fund Based        ICRA BB      70
Review process is underway
Pure N Sure Food Bites Pvt Ltd          LT fund based (TL)    ICRA A+      120     Withdrawn
                                                              (SO)
Sarvottam Atta Pvt Ltd                  NCD Programme         ICRA BB-     150     
(Issuer Not Cooperating)
Shapoorji Pallonji Oil And Gas          Non-FBL               ICRA AA-(S)          Assigned
Pvt Ltd                                                       / ICRA
                                                              A1+(S)
Shapoorji Pallonji Oil And Gas          Non-FBL               Provisional          Assigned
Pvt Ltd                                                       ICRA AA-(S)
                                                              / Provisional ICRA A1+(S)
Sizzling Beverages Pvt Ltd              Issuer Rating         ICRA D       -       Revised from
                                                                                   Ir B
Star Infratech                          LT – FB Fac           ICRA BBB     130     outstanding
Star Infratech                          LT / ST – Non-FB Fac  ICRA BBB /   1905    outstanding
                                                              ICRA A3+
Star Infratech                          LT / ST – Unallocated ICRA BBB /   215     outstanding
                                        Fac                   ICRA A3+
Stumpp Schuele & Somappa Pvt            Fund based -CC        ICRA BBB     370     Assigned
Ltd
Stumpp Schuele & Somappa Pvt            Fund based – TL       ICRA BBB     530     Assigned
Ltd
The Associated Auto Parts Pvt           Fund                  ICRA A+      40      Assigned
Ltd                                     based-OCC/optionally
                                        convertible debentureBD
Thermax Babcock Amp; Wilcox             Non FB Fac            ICRA BBB+    2100    Withdrawn
Energy Solutions Pvt Ltd                                      /ICRA A2+
Topline Lamination Pvt Ltd              FB Limits             ICRA B       57.5
(Issuer Not Cooperating)
Topline Lamination Pvt Ltd              Unallocated           ICRA B /A4   2.5
(Issuer Not Cooperating)
Yes Bank Ltd                            Basel II Compliant    ICRA AA      15441   Outstanding
                                        Upper Tier II Bond
                                        Programme
Yes Bank Ltd                            Basel II Compliant    ICRA AA      4610    Outstanding
                                        Tier I Bond Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA      108000  Outstanding
                                        Additional Tier I
                                        Bond Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA+     109000  Outstanding
                                        Tier II Bond Programme
Yes Bank Ltd                            Basel II Compliant    ICRA AA+     25306   Outstanding
                                        Lower Tier II Bond
                                        Programme
Yes Bank Ltd                            Infrastructure Bond   ICRA AA+     70300   Outstanding
                                        Programme
--------------------------------------------------------------------------------------------
$: 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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