April 18, 2018 / 11:33 AM / a month ago

ICRA ratings for Indian debt instruments-Apr 18

    Apr 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 17, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Hi-Tech Sweet Water                     ST non-FBL            ICRA A4+     300     Withdrawn
Technologies Pvt. Ltd.
Team Ferro Alloys Pvt Ltd               Non-FB Limits         ICRA A4+     151.5
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)

LONG TERM RATINGS:
-------------------
Adani Logistics Ltd                     Fund based- TL        ICRA BBB     39.2    Withdrawn
Asl Enterprises Ltd                     FB limits             ICRA BB+     345     Assigned
Asl Enterprises Ltd                     Untied limits         ICRA BB+     5       Assigned
Hi-Tech Sweet Water                     FBL                   ICRA BB+     747.9   Withdrawn
Technologies Pvt. Ltd.
ISSUER NOT COOPERATING*
Karelides Traders Pvt Ltd               NCD                   ICRA AA -    5000    outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD                   ICRA AA -    2050    outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD Programme LT Debt ICRA AA -    1930    outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD                   Provisional  4800
                                                              ICRA AA -
                                                              (SO)
(Confirmed as final)
Navin Cold Storage Pvt. Ltd.            FB – TL               ICRA C+      18.1    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Navin Cold Storage Pvt. Ltd.            FB – CC               ICRA C+      11.7    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Navin Cold Storage Pvt. Ltd.            FB – Working capital  ICRA C+      55      -
                                        loan
Rating continues to remain under ‘Issuer Not Cooperating’ category
Navin Cold Storage Pvt. Ltd.            Unallocated limits    ICRA C+      5.2     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace              LT - Fund Based       ICRA B+      26.6    -
(Pvt) Ltd
Remains at ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace              LT / ST – Non-Fund    ICRA         200     -
(Pvt) Ltd                               Based                 B+/ICRA A4
Remains at ‘Issuer Not Cooperating’ category
Sri Venkateswara Aerospace              LT / ST – Unallocated ICRA         13.4    -
(Pvt) Ltd                                                     B+/ICRA A4
Remains at ‘Issuer Not Cooperating’ category
Sundaram Finance Ltd                    Shri Trust V 2018 PTCsProvisional  7337.5  -
                                                              ICRA AAA(SO)
(Confirmed as final)
Sundaram Finance Ltd                    Shri Trust U 2018 PTCsProvisional  7337.5  -
                                                              ICRA AAA(SO)
(Confirmed as final)
Team Ferro Alloys Pvt Ltd               FB Limits             ICRA BB      341.2   -   
Downgraded from ICRA BB+
Team Ferro Alloys Pvt Ltd               Unallocated Limits    ICRA         28.3    Downgraded
                                                              BB/ICRA A4+          from ICRA
                                                                                   BB+/ICRA A4+
Thanjavur Spinning Mill Ltd             TL-2                  ICRA A+(SO)  350     outstanding
Thanjavur Spinning Mill Ltd             TL-1                  ICRA BB+     0       Withdrawn
Tulip Telecom Ltd                       NCD                   ICRA D       1500    -
(Continues to remain under ‘Issuer Not Cooperating’ category)
--------------------------------------------------------------------------------------------
$: 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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