April 16, 2019 / 11:21 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Apr 16

 (Repeating to add more ratings.)
    Apr 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 15, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Arjandass & Sons                        Non-Fund based-LOC    ICRA A4      60      Withdrawn
Borana Plastic Ltd                      ST: Non-fund based –  ICRA A4+     90      Reaffirmed
                                        BG
Geo Foundations And Structures          BG                    ICRA A4+     250     -
Pvt Ltd
(Reason for delay in carrying out periodic review. Should be one of the following - Issuer not
cooperating)
Hsbc Asset Management (India)           HSBC Low Duration     ICRA A1+mfs  -       Withdrawn
Pvt Ltd                                 Fund*
* Erstwhile HSBC Ultra Short Term Bond Fund
Hsbc Asset Management (India)           HSBC Cash Fund        ICRA A1+mfs  -       Outstanding
Pvt Ltd
International Cargo Terminals           FBL                   ICRA A3+     465     Reaffirmed
And Infrastructure Pvt Ltd
International Cargo Terminals           Non-FBL               ICRA A3+     200     Reaffirmed
And Infrastructure Pvt Ltd
International Cargo Terminals           FBL                   ICRA A3+     150     Reaffirmed
And Rail Infrastructure Pvt Ltd
International Cargo Terminals           Non-FBL               ICRA A3+     60      Reaffirmed
And Rail Infrastructure Pvt Ltd
Kandla International Container          Non-FBL               ICRA A3      80      Reaffirmed
Terminal Pvt Ltd
P P Products Pvt Ltd                    ST Non-fund Based     ICRA A3+     740     Reaffirmed
P P Products Pvt Ltd                    ST Unallocated        ICRA A3+     105     Reaffirmed
Parvathi Dyeing                         ST – Non-fund based   ICRA A4      2       Withdrawn
Sakal Media Pvt Ltd                     ST – Non-Fund Based   Provisional  610     Outstanding
                                                              ICRA A2+
Sayaji Packaging Pvt Ltd                LOC                   ICRA A4      30      -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shriram Transport Finance Co.           PTC Series A1         Provisional  1550    confirmed as
Ltd - Sansar Trust March 2019                                 ICRA A1+             Final       
Sk Systems Pvt Ltd                      ST – Non-fund Based   ICRA A4+     210     Withdrawn
Steel Max Rolling Mills Ltd             ST – Non-FB           ICRA A4      -       Withdrawn
Tarajyot Polymers Ltd                   Non-FB Fac            ICRA A3+     950     Reaffirmed
Tarajyot Polymers Ltd                   ST, Unallocated Fac   ICRA A3+     81.7    Reaffirmed
Vardhman Roller Flour Mills             ST – BG               ICRA A4      4       -
Pvt Ltd
(Rating continue to remain in Issuer Not Cooperating category)
Vinayak Diamond Tools                   Non-FBL               ICRA A4      40      -
(ISSUER NOT COOPERATING)
Vinayak Diamond Tools                   Non-fund              ICRA A4      -       -
                                        basedInterchangeable
                                        (sublimit to CC)
(ISSUER NOT COOPERATING)
Virgo Polymers (India) Ltd              ST, Non-fund based    ICRA A4+     120     Reaffirmed
Virgo Polymers (India) Ltd              ST, Unallocated       ICRA A4+     39.5    Reaffirmed
Aksh Optifibre Ltd                      -                     -            -       -
(No Default Statement)
Paradip International Cargo             Non-FBL               ICRA A3+(SO) 400     Upgraded
Terminals Pvt Ltd                                                                  from ICRA
                                                                                   A3(SO)

LONG TERM RATINGS:
-------------------
Ald Automotive Pvt Ltd                  LT FB Bk Lines        ICRA AAA     10083   Reaffirmed
Ald Automotive Pvt Ltd                  LT Non-fund Based Bk  ICRA AAA     200     Reaffirmed
                                        Lines
Ald Automotive Pvt Ltd                  LT Bk Lines           Provisional  1217    Reaffirmed
                                                              ICRA AAA
Alstone International                   -                     -            -       -
(No Default Statement)
Analyser Instrument Company             -                     -            -       -
Pvt Limit
(No Default Statement)
Antique Cottex Pvt Limit                -                     -            -       -
(No Default Statement)
Arjandass & Sons                        Fund based-CC         ICRA B+      15      Withdrawn
Arya Cotton Industries                  -                     -            -       -
(No Default Statement)
Ashiana Landcraft Realty Pvt            -                     -            -       -
Ltd
(No Default Statement)
Asian Construction Company              -                     -            -       -
(No Default Statement)
Borana Plastic Ltd                      LT: Fund based - CC   ICRA BB+     110     Reaffirmed
Captronic Systems Pvt Ltd               -                     -            -       -
(No Default Statement)
Carrycon India Ltd                      -                     -            -       -
(No Default Statement)
Cholamandalam Investment And            Second Loss Faciltiy  ICRA A+      -       Withdrawn
Finance Co. Ltd -
Platinum Trust December 2016 Tranche II
Cholamandalam Investment And            PTC Series A1         ICRA AAA     -       Withdrawn
Finance Co. Ltd -
Platinum Trust December 2016 Tranche II
Cruso Granito Pvt. Ltd.                 -                     -            -       -
(No Default Statement)
Genpact India Pvt Ltd                   NCDs                  ICRA AA-     48000   Reaffirmed
Geo Foundations And Structures          CC                    ICRA BB+     50      -
Pvt Ltd
(Reason for delay in carrying out periodic review. Should be one of the following - Issuer not
cooperating)
Ghai Construction Ltd                   -                     -            -       -
(No Default Statement)
Gni Infrastructure Pvt Ltd              LT CC                 ICRA BB      170     Assigned
Goverdhan Transport Company             -                     -            -       -
Pvt Ltd
(No Default Statement)
Hsbc Asset Management (India)           HSBC Short Duration   ICRA AA+mfs  -       Downgraded
Pvt Ltd                                 Fund**                                     from ICRA
                                                                                   AAAmfs
** Erstwhile HSBC Income Fund - Short Term Plan
Hsbc Asset Management (India)           HSBC Flexi Debt Fund  ICRA AAAmfs  -       Outstanding
Pvt Ltd
International Cargo Terminals           TL                    ICRA BBB     3450    Reaffirmed
And Infrastructure Pvt Ltd
International Cargo Terminals           TL                    ICRA BBB     760     Reaffirmed
And Rail Infrastructure Pvt Ltd
J. P. Flour Mills Pvt Ltd               -                     -            -       -
(No Default Statement)
Jainalco Industries Pvt Ltd             -                     -            -       -
(No Default Statement)
Jayant Printery Llp                     -                     -            -       -
(No Default Statement)
Kalyan Cotton Industries                -                     -            -       -
(No Default Statement)
Kandla International Container          FBL                   ICRA BBB-    1150    Reaffirmed
Terminal Pvt Ltd
Karlo Autombiles (P) Ltd                -                     -            -       -
(No Default Statement)
Nirmal Industries Pvt Ltd               -                     -            -       -
(No Default Statement)
Nooli Jewellers                         -                     -            -       -
(No Default Statement)
P P Products Pvt Ltd                    LT FB                 ICRA BBB     50      Reaffirmed
P P Products Pvt Ltd                    LT/ ST Unallocated    ICRA BBB/A3+ 115     Reaffirmed
Parvathi Dyeing                         LT – Fund Based TL    ICRA BB      75      Withdrawn
Parvathi Dyeing                         LT – Fund Based/CC    ICRA BB      40      Withdrawn
Parvathi Dyeing                         LT – Unallocated      ICRA BB      8       Withdrawn
S.S. Construction                       -                     -            -       -
(No Default Statement)
Sakal Media Pvt Ltd                     LT - Fund Based – TL  Provisional  800     Outstanding
                                                              ICRA A-
Sakal Media Pvt Ltd                     LT - Fund Based – CC  Provisional  1000    Outstanding
                                                              ICRA A-
San Marine                              -                     -            -       -
(No Default Statement)
Sar Senapati Santaji Ghorpade           -                     -            -       -
Sugar Factory Ltd
(No Default Statement)
Sayaji Packaging Pvt Ltd                CC                    ICRA B       30      -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Sayaji Packaging Pvt Ltd                TL                    ICRA B       2.5     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Sayaji Packaging Pvt Ltd                Unallocated Limits    ICRA B       12.5    -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shree Bhagwati Agrotech Pvt.            -                     -            -       -
Ltd
(No Default Statement)
Shriram Transport Finance Co.           PTC Series A2         Provisional  1650    confirmed as
Ltd - Sansar Trust March 2019                                 ICRA AAA             final  
Shriram Transport Finance Co.           PTC Series A3         Provisional  1900    confirmed as
Ltd - Sansar Trust March 2019                                 ICRA AAA             final
Shriram Transport Finance Co.           PTC Series A4         Provisional  5141.7  confirmed as
Ltd - Sansar Trust March 2019                                 ICRA BBB+            final   
Shriram Transport Finance Co.           Second Loss Facility  Provisional  829.6   confirmed as
Ltd - Sansar Trust March 2019                                 ICRA BBB+            final
Sk Systems Pvt Ltd                      LT – Fund Based – CC  ICRA BB+     75      Withdrawn
Sk Systems Pvt Ltd                      LT – Unallocated      ICRA BB+     5       Withdrawn
Sri Venkateswara Rice Mill              -                     -            -       -
(No Default Statement)
Steel Max Rolling Mills Ltd             LT – FB Fac           ICRA B       40      Withdrawn
Steel Max Rolling Mills Ltd             LT – TL               ICRA B       60      Withdrawn
Subhash Sarees Pvt Ltd                  -                     -            -       -
(No Default Statement)
Tarajyot Polymers Ltd                   FB Fac                ICRA BBB     50      Reaffirmed
Thakar Dass & Co.                       -                     -            -       -
(No Default Statement)
Vanshika Construction                   FB / CC               ICRA BB      50      Assigned
Vanshika Construction                   Non-fund Based / BG   ICRA BB      50      Assigned
Vardhman Roller Flour Mills             LT CC                 ICRA B+      280     -
Pvt Ltd
(Rating continue to remain in Issuer Not Cooperating category)
Vardhman Roller Flour Mills             LTTL                  ICRA B+      1.5     -
Pvt Ltd
(Rating continue to remain in Issuer Not Cooperating category)
Vardhman Roller Flour Mills             LT - Unallocated      ICRA B+      6       -
Pvt Ltd
(Rating continue to remain in Issuer Not Cooperating category)
Vikas Cot Fiber Pvt Ltd                 LT CC                 ICRA B+      186.8   -
(Rating continue to remain in Issuer Not Cooperating category)
Vikas Cot Fiber Pvt Ltd                 LT - Unallocated      ICRA B+      13.2    -
(Rating continue to remain in Issuer Not Cooperating category)
Vinayak Diamond Tools                   FB Limits             ICRA B+      223.2   -
(ISSUER NOT COOPERATING)
Vinayak Diamond Tools                   Unallocated Limits    ICRA B+/A4   16.8    -
(ISSUER NOT COOPERATING)
Virgo Polymers (India) Ltd              LT, TL                ICRA BB+     15      Reaffirmed
Virgo Polymers (India) Ltd              LT, FB                ICRA BB+     100     Reaffirmed
Virgo Polymers (India) Ltd              Long -Term,           ICRA BB+     3       Reaffirmed
                                        Unallocated
Paradip International Cargo             FBL                   ICRA BBB(SO) 4000    Upgraded
Terminals Pvt Ltd                                                                  from ICRA
                                                                                   BBB-(SO)
outlook revised to Positive from Stable
--------------------------------------------------------------------------------------------
$: 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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