April 17, 2018 / 11:36 AM / 5 days ago

RPT-ICRA ratings for Indian debt instruments-Apr 17

 (Repeating to add more ratings.)
    Apr 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 16, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Cadillac Granito Pvt. Ltd.              Non-fund Based- BG    ICRA A4      25      Withdrawn
Contemporary Targett Pvt Ltd            Non Fund Based-LOC    ICRA A3      2.5     Withdrawn
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Withdrawn
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 99 Days Plan T
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       outstanding
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 103 Days Plan O
India Infoline Finance                  PTC Series A          ICRA         450     Withdrawn
Ltd-Shining Metal Trust                                       A1+(SO) 
Dec 2017 Gold Ptc XIII A
India Infoline Finance                  PTC Series A          ICRA         450     Withdrawn
Ltd-Shining Metal Trust                                       A1+(SO)
Dec 2017 Gold Ptc XIII B
India Infoline Finance                  PTC Series A          ICRA         450     Withdrawn
Ltd-Shining Metal Trust                                       A1+(SO)
Dec 2017 Gold Ptc XIII C
India Infoline Finance                  PTC Series A          ICRA         450     Withdrawn
Ltd-Shining Metal Trust                                       A1+(SO)    
Dec 2017 Gold Ptc XIII D
Indiabulls Commercial Credit            CP Programme          ICRA A1+     40000   Reaffirmed
Ltd
Jtekt India Ltd (Erstwhile              ST Non-Fund based     ICRA A1+     400
Sona Koyo Steering Systems Ltd)
Jtekt India Ltd (Erstwhile              ST Fund Based         ICRA A1+     525
Sona Koyo Steering Systems Ltd)
Jtekt India Ltd (Erstwhile              CP                    ICRA A1+     150
Sona Koyo Steering Systems Ltd)
Jtekt India Ltd (Erstwhile              ST Unallocated        ICRA A1+     150
Sona Koyo Steering Systems Ltd)
Marpol Pvt Ltd                          Non-fund based-BG     ICRA A4      5
placed on ratings watch with positive implications
Marpol Pvt Ltd                          Non-fund based-LOC    ICRA A4      85
placed on ratings watch with positive implications
Omax Cotspin Pvt Ltd                    Non-fund Based- BG    ICRA A4+     25      Withdrawn
Omax Cotspin Pvt Ltd                    Non-fund Based- EPC   ICRA A4+     140     Withdrawn
                                        cum FBP/FBD
Prj Polymers Pvt Ltd                    Non fund based- BG    ICRA A4      60
(Rating moved to the ‘Issuer Not Cooperating’ category)
R.P. Multimetals Pvt. Ltd.              Non Fund- Based LimitsICRA A4      300
Issuer not cooperating
Shankaranarayana Constructions          ST - Non-fund Based   ICRA A2+     3110    Assigned
Pvt Ltd                                                                            /Outstanding
Shree Gopinath Paper Mills Pvt          Non-fund basedBG      ICRA A4      10
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Shree Gopinath Paper Mills Pvt          Non-fund basedCredit  ICRA A4      2.5
Ltd                                     Exposure Limit
(Rating moved to the ‘Issuer Not Cooperating’ category)
Shree Gopinath Paper Mills Pvt          Non-fund based- LOC   ICRA A4      50
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Swift Ceramic Pvt Ltd                   Non Fund based- BG    ICRA A4      7.5     Withdrawn
Issuer Not Cooperating
Gokaldas Exports Ltd                    FB working-capital    ICRA A3      5250    -
                                        limits
(Reason for delay in carrying out periodic review:Review process is underway)

MEDIUM TERM RATINGS:
-------------------
Sri Sarvaraya Sugars Ltd                FD Programme          MD           50      Downgraded
                                                                                   from ICRA MB+
(Issuer Not Cooperating)
    
LONG TERM RATINGS:
-------------------    
Apurvakriti Infrastructure Pvt          LT Nonfund Based      ICRA BB-     32
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Apurvakriti Infrastructure Pvt          LT Fund Based– CC     ICRA BB-     30
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Archean Chemical Industries             Fund based-TL         ICRA D       2402.5  Reaffirmed
Pvt Ltd
Archean Chemical Industries             Fund based- Working   ICRA D       534.1   Reaffirmed
Pvt Ltd                                 Capital Fac
Archean Chemical Industries             LT, Unallocated limitsICRA D       4043.4  Reaffirmed
Pvt Ltd
Breal Estate One Pvt Ltd                Fund Based - TL       ICRA BB+     610     Assigned
Cadillac Granito Pvt. Ltd.              FB- TL                ICRA B       150     Withdrawn
Cadillac Granito Pvt. Ltd.              FB- CC                ICRA B       75      Withdrawn
Contemporary Targett Pvt Ltd            Fund Based-TL         ICRA BBB-    13.7    Withdrawn
Contemporary Targett Pvt Ltd            Fund Based-CC         ICRA BBB-    120     Withdrawn
Contemporary Targett Pvt Ltd            Unallocated Limits    ICRA BBB-    20.8    Withdrawn
                                                              /ICRA A3
Ganesh Cars Pvt Ltd                     Fund based            ICRA BB+     100     Assigned
Haran Chandra Cold Storage Pvt          Fund based-TL         ICRA D       50.9
Ltd
(Downgraded from ICRA B/ Issuer Not Cooperating)
Haran Chandra Cold Storage Pvt          Fund based- Seasonal  ICRA D       42.9
Ltd                                     CC
(Downgraded from ICRA B/Issuer Not Cooperating)
Haran Chandra Cold Storage Pvt          Fund based- Working   ICRA D       4.2
Ltd                                     Capital
Facility
(Downgraded from ICRA B/Issuer Not Cooperating)
Haran Chandra Cold Storage Pvt          Non-fund based-BG     ICRA D       2
Ltd
(Downgraded from ICRA B/Issuer Not Cooperating)
Ibd Universal Pvt. Ltd.                 Fund based            ICRA D       270
(Rating moved to the ‘Issuer Not Cooperating’ category)
Ibd Universal Pvt. Ltd.                 Fund based -          ICRA D       270
                                        Unallocated
(Rating moved to the ‘Issuer Not Cooperating’ category)
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 1185 Days Plan I
Icici Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Plan -
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Dynamic Bond - Fund
Icici Prudential Asset                  ICICI Prudential      ICRA AAmfs   -       outstanding
Management Co. Ltd                      Corporate Bond - Fund
Indian School Finance Company           PTC Series A2         ICRA BBB(SO) -       Withdrawn
Pvt Ltd-Nephthys Sbl
Ifmr Capital 2014
Infibeam Incorporation Ltd              TL (Proposed)         ICRA A+      1000    Assigned
Isgec Hitachi Zosen Ltd                 Fund based            ICRA AA(SO)  1400    Reaffirmed
Isgec Hitachi Zosen Ltd                 Non-fund based        ICRA AA(SO)  3050    Reaffirmed
Isgec Hitachi Zosen Ltd                 Fund based / Non-FBL  ICRA AA(SO)  400     Reaffirmed
Isgec Hitachi Zosen Ltd                 Fund based            ICRA BBB+    100     Reaffirmed
Isgec Hitachi Zosen Ltd                 Non-fund based        ICRA BBB+    450     Reaffirmed
Isgec Hitachi Zosen Ltd                 Unallocated limits    ICRA BBB+    100     Reaffirmed
Jtekt India Ltd (Erstwhile              CC                    ICRA AA      813.5
Sona Koyo Steering Systems Ltd)
Jtekt India Ltd (Erstwhile              TL                    ICRA AA      1931.6
Sona Koyo Steering Systems Ltd)
Jtekt India Ltd (Erstwhile              LT Unallocated        ICRA AA      1267.8
Sona Koyo Steering Systems Ltd)
Lic Mutual Fund Asset                   LIC MF Capital        ICRA         -       Withdrawn
Management                              Protection Oriented   AAAmfs(SO)
                                        Fund – Series 2
Locksmiths Industries Pvt Ltd           BLR                   ICRA B- /    95      Review
                                                              ICRA A4              process is
                                                                                   underway
Magma Fincorp Ltd-Mfl                   PTC Series A1         Provisional  565.9   Assigned
Securitisation                                                rating of
Trust LXIV                                                    ICRA AA(SO)                       
                                      
Magma Fincorp Ltd-Mfl                   PTC Series A2         Provisional  31.4    Assigned
Securitisation                                                rating of    
Trust LXIV                                                    ICRA AA(SO)                       
                                      
Magma Fincorp Ltd-Mfl                   Liquidity Facility    Provisional  10.5    Assigned
Securitisation                                                rating of   
Trust LXIV                                                    ICRA AAA(SO)                      
                                       
Magma Fincorp Ltd-Mfl                   Second Loss Facility  Provisional  31.4    Assigned
Securitisation                                                rating of
Trust LXIV                                                    ICRA BBB-(SO)                     
                                                                           
Marpol Pvt Ltd                          Fund based-CC         ICRA BB-     105
placed on ratings watch with positive implications
North Dum Dum Municipality              Issuer Rating         ICRA BB      -       Assigned
Omax Cotspin Pvt Ltd                    FB- TL                ICRA BB+     293.2   Withdrawn
Omax Cotspin Pvt Ltd                    FB- CC                ICRA BB+     125     Withdrawn
P Kishanchand Textiles Ltd              Non-fund              ICRA B       150
                                        based-Working Capital
                                        Facility
Reaffirmed. Removed from ‘Issuer Not Co-operating’ category
Prj Polymers Pvt Ltd                    Fund based-CC         ICRA B+      80
(Rating moved to the ‘Issuer Not Cooperating’ category)
R.P. Multimetals Pvt. Ltd.              Fund Based            ICRA BB-     250
Issuer not cooperating
R.P. Steel Tubes                        FB Limits             ICRA BB-     100
R.P. Steel Tubes                        LT Unallocated        ICRA BB-     -
(Reduced from Rs. 0.50CRS)/Issuer not cooperating
Ramana Educational Trust                -                     ICRA BBB-    -
Issuer not cooperating/No Default Statement’ (“NDS”)
Shankaranarayana Constructions          LT - Fund Based/ CC   ICRA A-      520     Assigned
Pvt Ltd                                                                            /Outstanding
Shree Balbir Food Product Pvt           Fund Based – CC       ICRA B+      120     Assigned
Ltd
Shree Balbir Food Product Pvt           Fund Based – TL       ICRA B+      30      Assigned
Ltd
Shree Gopinath Paper Mills Pvt          Fund basedTL          ICRA BB-     38.1
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Shree Gopinath Paper Mills Pvt          Fund based-CC         ICRA BB-     110
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Shree Gopinath Paper Mills Pvt          Unallocated           ICRA BB-     32.4
Ltd
(Rating moved to the ‘Issuer Not Cooperating’ category)
Starlite Lighting Ltd                   NCD Programme         Provisional  800     Assigned
                                                              ICRA A+(SO)
Swift Ceramic Pvt Ltd                   Fund based- CC        ICRA B+      35      Withdrawn
Swift Ceramic Pvt Ltd                   Fund based- TL        ICRA B+      19.5    Withdrawn
Velammal Educational Trust              -                     ICRA BBB-    -
Issuer not cooperating/No Default Statement’ (“NDS”)
Magma Fincorp Ltd                       PTC Series A1         Provisional  492.5   Assigned
                                                              ICRA AA(SO)
(confirmed as final)
Magma Fincorp Ltd                       PTC Series A2         Provisional  30      Assigned
                                                              ICRA AA(SO)
(confirmed as final)
Magma Fincorp Ltd                       Liquidity Facility    Provisional  7.8     Assigned
                                                              ICRA AAA(SO)
(confirmed as final)
Magma Fincorp Ltd                       Second Loss Facility  Provisional  20.9    Assigned
                                                              ICRA
                                                              BBB-(SO)
(confirmed as final)
Sri Sarvaraya Sugars Ltd                Fund based-TL         ICRA D       829.5   Downgraded
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Sri Sarvaraya Sugars Ltd                FB Limits             ICRA D       1320    Downgraded
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Sri Sarvaraya Sugars Ltd                Unallocated Limits    ICRA D       73.9    Downgraded
                                                                                   from ICRA B+
(Issuer Not Cooperating)    
--------------------------------------------------------------------------------------------
$: 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