April 17, 2019 / 11:13 AM / 7 days ago

ICRA ratings for Indian debt instruments-Apr 17

   Apr 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 16, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP Programme (IPO     ICRA A1+     50000   Assigned
                                        financing)
Aditya Birla Finance Ltd                CP programme          ICRA A1+     120000  Outstanding
B & A Packaging India Ltd.              Non-FBL – LOC         ICRA A3      87.5    Assigned
B & A Packaging India Ltd.              Non-FBL – BG          ICRA A3      2       Assigned
Bg Fastening And Engineering            ST fund based         ICRA A4+     60      Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            ST Non-fund based     ICRA A4+     98      Assigned
Industries Pvt Ltd
Bti Payments Pvt Ltd                    FB Fac – ST           ICRA A1 (SO) 4350    Outstanding
Cooldeck Industries Pvt Ltd             ST Non-fund Based -   ICRA A4      30      Reaffirmed
                                        LOC
Kbk Chem Engineering Pvt Ltd            ST – Non Fund Based   ICRA A4      173.5   -
Rating continues to remain in the ‘(Issuer Not Cooperating)’ category
Reva Proteins Ltd                       ST – Non-fund based   ICRA A2 (SO) 20      Withdrawn
Reva Proteins Ltd                       ST – Non-fund based   ICRA A2 (SO) -       Withdrawn
                                        (sublimit)
Sharekhan Bnp Paribas                   CP Programme (IPO     ICRA A1+     20000   Assigned
Financial Services Pvt Ltd              Financing)
Sharekhan Bnp Paribas                   CP Programme          ICRA A1+     10000   Outstanding
Financial Services Pvt Ltd
Shri Damodar Yarn                       ST Non FB limit       ICRA A4+     80      Downgraded
Manufacturing Pvt Ltd                                                              from ICRA A3
Shri Damodar Yarn                       ST FB limit           ICRA A4+     -       Downgraded
Manufacturing Pvt Ltd                                                              from ICRA A3
Starlite Lighting Ltd                   ST- Non FB limits     ICRA         100     Outstanding
                                                              A1+(SO)^
^The rating is principally based on a corporate guarantee from Bajaj Electricals 
Limited and an undertaking provided by the guarantor that it would ensure that 
the related debt obligations are serviced on or prior to the due date.
Tata Asset Management Ltd               Tata Money Market     ICRA A1+mfs  -       Reaffirmed
                                        Fund (erstwhile Tata
                                        Liquid Fund)
Tata Asset Management Ltd               Tata Liquid Fund      ICRA A1+mfs  -       Reaffirmed
                                        (erstwhile Tata Money
                                        Market Fund)

LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA+     7000    Outstanding
                                        programme
Aditya Birla Finance Ltd                NCD programme         ICRA AAA     -       Withdrawn
Aditya Birla Finance Ltd                Retail NCD programme  ICRA AAA     50000   Outstanding
Aditya Birla Finance Ltd                NCD programme         ICRA AAA     187634  Outstanding
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AAA     15000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Subordinated debt     ICRA AAA     25000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA         238830  Outstanding
                                                              AAA/ICRA A1+
Aptus Value Housing Finance             PTC Series A2         ICRA A+(SO)  279.8   Final Rating
India Ltd –Vivriti Gryffindor 02 2019
Aptus Value Housing Finance             PTC Series A1         ICRA AA+(SO) 396.4   Final Rating
India Ltd –Vivriti Gryffindor 02 2019
B & A Packaging India Ltd.              FB Limit – CC         ICRA BBB-    105     Assigned
B & A Packaging India Ltd.              FB Limit – TL         ICRA BBB-    5.1     Assigned
B & A Packaging India Ltd.              Unallocated Limits    ICRA BBB-    50.4    Assigned
Bg Fastening And Engineering            LT fund based- TL     ICRA BB      49      Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            LT fund based- CC     ICRA BB      75      Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            LT unallocated        ICRA BB      68      Assigned
Industries Pvt Ltd
Bti Payments Pvt Ltd                    TL                    ICRA BBB(SO) 750     Outstanding
Cooldeck Industries Pvt Ltd             LT FB - CC            ICRA B+      70      Reaffirmed
Cooldeck Industries Pvt Ltd             LT Non-fund Based - BGICRA B+      15      Reaffirmed
Cooldeck Industries Pvt Ltd             Unallocated           ICRA         39      Reaffirmed
                                                              B+/ICRA A4;
Fincare Business Services Ltd           PTC Series A2         ICRA A(SO)   -       Withdrawn
(Erstwhile Future Financial
Servicess Pvt Ltd)
Fincare Business Services Ltd           PTC Series A1         ICRA AA(SO)  -       Withdrawn
(Erstwhile Future Financial
Servicess Pvt Ltd)
Guru Kirana Motors                      LT FB TL              ICRA B       40      -
(Issuer Not Cooperating)
Guru Kirana Motors                      LT FB TL              ICRA B       20      -
(Issuer Not Cooperating)
Kbk Chem Engineering Pvt Ltd            LT – Fund Based – CC  ICRA C       150     -
Rating continues to remain in the ‘(Issuer Not Cooperating)’ category
Magus Metals Pvt Ltd                    Fund Based TL Limits  ICRA C+      19      -
Rating continuous to remain under ‘(Issuer Not Cooperating)’ category
Magus Metals Pvt Ltd                    Unallocated Limits    ICRA C+      11      -
Rating continuous to remain under ‘(Issuer Not Cooperating)’ category
Magus Metals Pvt Ltd                    Fund Based CC Limits  ICRA D       80      -
(Issuer Not Cooperating)
Maharaja Agrasen Technical              LT - FB – TL          ICRA BBB+    510     Reaffirmed
Education Society
Maharaja Agrasen Technical              LT – Unallocated      ICRA BBB+    20      Reaffirmed
Education Society
Midland Microfin Ltd                    PTC Series A1         Provisional  248.1   Final Rating
                                                              ICRA A(SO)
Midland Microfin Ltd                    PTC Series A2         Provisional  1.4     Final Rating
                                                              ICRA A-(SO)
Nlc India Ltd                           LT, TL                ICRA AAA     14000   -
Nlc India Ltd                           LT, Borrowing         ICRA AAA     20000   -
                                        Programme
Reva Proteins Ltd                       LT-Fund based- CC     ICRA BBB+    81.4    Withdrawn
                                                              (SO)
Reva Proteins Ltd                       LT-Fund based         ICRA BBB+    -       Withdrawn
                                        (sublimit)            (SO)
Shri Damodar Yarn                       LT FB limits          ICRA BB+     70.9    Downgraded
Manufacturing Pvt Ltd                                                              from ICRA
                                                                                   BBB-
Shri Damodar Yarn                       LT/ST Fundbased limit ICRA         210     Downgraded
Manufacturing Pvt Ltd                                         BB+/ICRA             from ICRA
                                                              A4+;                 BBB-/ICRA A3
Sri Raja Rajeswari                      Unallocated           ICRA BBB/A3+ 100     Assigned
Constructions (India) Pvt. Ltd
Starlite Lighting Ltd                   LT - FBL              ICRA A+(SO)  920     Outstanding
Starlite Lighting Ltd                   LT - NCD Programme    ICRA A+(SO)  800     Outstanding
Starlite Lighting Ltd                   LT - NCD Programme    ICRA A+(SO)  600     Final Rating
Tata Asset Management Ltd               Tata ST Bond Fund     ICRA AA+mfs  -       Reaffirmed
Tata Asset Management Ltd               Tata Dynamic Bond FundICRA AAAmfs  -       Reaffirmed
Tata Asset Management Ltd               Tata Income Fund      ICRA AAAmfs  -       Reaffirmed
                                        (erstwhile Tata LT
                                        Debt Fund)
Tata Asset Management Ltd               Tata Treasury                      -       downgraded
                                        Advantage Fund                             from ICRA
                                        (erstwhile Tata Ultra ST Fund)             AAAmfs
Tata Motors Finance Ltd                 PTC Series A          ICRA AAA(SO) 2353.9  Final Rating
Tata Motors Finance Ltd                 Second Loss Facility  ICRA BBB(SO) 180.1   Final Rating
Vardhaman Pressure Die Casting          LT FB TL              ICRA B+      45      -
(Issuer Not Cooperating)
Vardhaman Pressure Die Casting          LT Fund Based CC      ICRA B+      15      -
(Issuer Not Cooperating)
Vishwas Cotton Industries               FB -TL                ICRA B       2.2     Withdrawn
Vishwas Cotton Industries               FB - Working Capital  ICRA B       47.5    Withdrawn
                                        Fac
Vishwas Cotton Industries               Unallocated limits    ICRA B       10.3    Withdrawn
--------------------------------------------------------------------------------------------
$: 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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