April 16, 2018 / 11:04 AM / 10 days ago

ICRA ratings for Indian debt instruments-Apr 16

    Apr 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 13, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aep Company                             ST non-FBL            ICRA A4      17.5    Withdrawn
Flexituff International Ltd             Non-FBL               ICRA A3      2930
Downgraded to ICRA A3 from ICRA A2; ‘rating watch with developing implications’ removed
Healthium Medtech Pvt Ltd               ST – FB/ Non-fund     ICRA A1      60
                                        Based – Working
                                        Capital Fac
IDBI Bank Ltd                           Certificates of       ICRA A1@     350000  outstanding
                                        Deposit Programme

@under rating watch with negative implications
K. Rasiklal Exim Pvt. Ltd.              Non-fund based- LOC   ICRA A4+     180
Re-affirmed and removed from Issuer not co-operating
K. Rasiklal Exim Pvt. Ltd.              Fund based- UBP/UDBP  ICRA A4+     -
Re-affirmed and removed from Issuer not co-operating
K. Rasiklal Exim Pvt. Ltd.              Non-fund based-       ICRA A4+     -
                                        Letter of Comfort
Re-affirmed and removed from Issuer not co-operating
Shyam Agency Pvt. Ltd.                  ST; non-FB Fac        ICRA A4+ (S) 60      Reaffirmed
Shyam Polytex Pvt. Ltd.                 LOC                   ICRA A4+     15      Assigned
Vatsal Construction Co.                 BG                    ICRA A4      185
Assigned/ outstanding

MEDIUM TERM RATINGS:
-------------------
IDBI Bank Ltd                           Fixed Deposits        MAA-@        -       outstanding
                                        Programme
@under rating watch with negative implications

LONG TERM RATINGS:
-------------------
Aditya Agro Foods                       Fund based- CC        ICRA B+      230
Rating moved to ‘Issuer Not Cooperating’ category
Aditya Agro Foods                       Unallocated           ICRA B+      40
Rating moved to ‘Issuer Not Cooperating’ category
Aep Company                             Fund based- CC        ICRA BB-     45      Withdrawn
Aep Company                             Fund based- TL        ICRA BB-     5.6     Withdrawn
Delphi Automotive Systems Pvt           CC/WCDL/LC/BG         ICRA A/A1    400
Ltd
Upgraded from ICRA A-/A2+
Flexituff International Ltd             TL                    ICRA BBB-    370
Downgraded to ICRA BBB- from ICRA BBB+; ‘rating watch with developing implications’ removed and
‘Negative’
Flexituff International Ltd             FBL – CC              ICRA BBB-    2890
Downgraded to ICRA BBB- from ICRA BBB+; ‘rating watch with developing implications’ removed and
‘Negative’ 
Healthium Medtech Pvt Ltd               LT – Non-fund Based – ICRA A+      900
                                        Standby Line of Credit
Healthium Medtech Pvt Ltd               LT/ST- Unallocated    ICRA A+ /A1  2040
                                        Limits
Hospet City Municipal Council           Rating                ICRA BBB-    -
No Default Statement
ICICI Lombard General                   CPA                   iAAA         -       Reaffirmed
Insurance Co. Ltd
ICICI Lombard General                   Subordinated debt     ICRA AAA     4850    Reaffirmed
Insurance Co. Ltd                       programme
IDBI Bank Ltd                           Basel III Compliant   ICRA A(hyb)@ 50000   outstanding
                                        Tier II Bonds
@under rating watch with negative implications
IDBI Bank Ltd                           Infrastructure Bonds  ICRA A@      80000   outstanding
@under rating watch with negative implications
IDBI Bank Ltd                           Flexi Bond Series     ICRA A@      2305    outstanding
@under rating watch with negative implications
IDBI Bank Ltd                           Senior & Lower Tier   ICRA A@      257427.2outstanding
                                        II (Subordinated
                                        Bonds)
@under rating watch with negative implications
IDBI Bank Ltd                           Subordinated Debt     ICRA A@      700     outstanding
                                        Programme
@under rating watch with negative implications
IDBI Bank Ltd                           Basel III Compliant   ICRA         -       Withdrawn
                                        Tier I Bonds          BBB-(hyb)@
@under rating watch with negative implications
IDBI Bank Ltd                           Upper Tier II Bonds   ICRA BBB+@   42862   outstanding
                                        Programme
@under rating watch with negative implications
IDBI Bank Ltd                           Basel II Compliant    ICRA BBB+@   17088   outstanding
                                        Perpetual Bonds
@under rating watch with negative implications
K. Rasiklal Exim Pvt. Ltd.              Fund based-CC         ICRA BB+     -
Re-affirmed and removed from Issuer not cooperating
Mahalaxmi Technocast Ltd                Rating                ICRA B/ A4   -
No Default Statement
Millennia Realtors Pvt Ltd              Fund based-TL         ICRA BBB-    6297.6  Reaffirmed
Mrl Posnet Pvt Ltd                      NCD                   ICRA BBB-    50      Withdrawn
Mrl Posnet Pvt Ltd                      NCD - Proposed        ICRA BBB-    30      Withdrawn
Mundra Port Pty Ltd                     Fund based-TL         ICRA         2880    Reaffirmed
                                                              AA-(SO)
Rmz Galleria India Pvt Ltd              Fund based-TL         ICRA BBB-    4100    Reaffirmed
Sabari Textiles Pvt Ltd                 TL                    ICRA D       124.7
Reason for delay in carrying out periodic review - Information not received
Sabari Textiles Pvt Ltd                 FBL                   ICRA D       38.3
Reason for delay in carrying out periodic review - Information not received
Sabari Textiles Pvt Ltd                 NFBL                  ICRA D       7
Reason for delay in carrying out periodic review - Information not received
Shyam Agency Pvt. Ltd.                  LT; FB Fac            ICRA BB+(S)  -       Reaffirmed
Shyam Polytex Pvt. Ltd.                 CC                    ICRA BB+     75      Assigned
Skoda Auto India Pvt Ltd                Fund Based/Non-FBL    ICRA AA+     3350    Reaffirmed
                                                              /A1+
Vatsal Construction Co.                 CC                    ICRA BB-     10      outstanding
Volkswagen Group Sales India            Fund Based/Non-FBL    ICRA AA+     7390    Reaffirmed
Pvt Ltd                                                       /A1+
Volkswagen India Pvt Ltd                Fund Based/Non-FBL    ICRA AA+     15330   Reaffirmed
                                                              /A1+

--------------------------------------------------------------------------------------------
$: 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)
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