August 7, 2018 / 11:20 AM / 3 months ago

ICRA ratings for Indian debt instruments-Aug 7

    Aug 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 6, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharti Airtel Ltd                       CP                    ICRA A1+     60000   Reaffirmed
Bharti Airtel Ltd                       Working Capital       ICRA A1+     2500    Reaffirmed
                                        Limits (rated on ST
                                        scale)
C. J. Exporters                         BLR                   ICRA A4+     900     -
(Reason for delay in carrying out periodic review-Review process is underway)
Fritzmeier Motherson Cabin              Short-term FBL        ICRA A2+     20      -
Engineering Ltd
(Reason for delay in carrying out periodic review: Review process is underway)
Fritzmeier Motherson Cabin              ST Interchangeable    ICRA A2+     -       -
Engineering Ltd                         Limits
(Reason for delay in carrying out periodic review: Review process is underway)
Il&Fs Financial Services Ltd            CP programme          ICRA A1+     40000   Reaffirmed
Infrastructure Leasing                  CP programme          ICRA A1+     25000   Reaffirmed
&Financial Services Ltd
(Placed under Watch with Developing Implications)
Khadim India Ltd                        Purchase Bills        ICRA A1      125     Upgraded
                                        Discounting/Demand                         from ICRA A2+
                                        Loan/ Overdraft Limits
Nezone Industries Ltd                   Non-fund              ICRA A4      170     Withdrawn
                                        based-Working Capital
                                        Fac
Prestige Estates Projects Ltd           CP                    ICRA A1+     4000    Outstanding
R.D.Exports                             ST -Fund              ICRA A4      60      ISSUER NOT
                                        based/Non-fund based ^                     COOPERATING
^ consists   of   packing   credit   limits   interchangeable   with   Foreign   Bills  
Negotiation   (FBN)/Foreign   Bills   Discounting (FBD)/Foreign Bills Purchase (FBP)/Advance
against Foreign Bills Sent for Collection (AAFBSC)
Roop Technology Pvt Ltd                 ST -interchangeable   ICRA A4      -       Reaffirmed
S. Mitul & Co                           BLR                   ICRA A4      150     -
(Reason for delay in carrying out periodic review-Review process is underway)
Texture Clothing Company                ST-Fund Based         ICRA A4      50      Assigned
Texture Clothing Company                ST–Unallocated        ICRA A4      18      Assigned



MEDIUM TERM RATINGS:
-------------------
Icici Bank Ltd                          Fixed Deposit         ICRA A1+     500000  Outstanding
                                        Programme
Icici Bank Ltd                          Fixed Deposit         MAAA         -       Outstanding
                                        Programme



LONG TERM RATINGS:
-------------------
Bharti Airtel Ltd                       TL                    ICRA AA+     46000   Reaffirmed
Bharti Airtel Ltd                       Working Capital       ICRA AA+     22500   Reaffirmed
                                        Limits (rated on LT
                                        scale)
Bvsr Constructions Pvt Ltd              LT: CC Fac            ICRA A-      100     Reaffirmed
Bvsr Constructions Pvt Ltd              LT: Non-FB Fac        ICRA A-      2200    Reaffirmed
Bvsr Constructions Pvt Ltd              LT: Unallocated       ICRA A-      840     Reaffirmed
Deepak Foods                            FB-CC                 ICRA D       5       Withdrawn
Deepak Foods                            FB-TL I               ICRA D       2.4     Withdrawn
Deepak Foods                            FB-TL II              ICRA D       35      Withdrawn
Deepak Foods                            Fund Based-EPC cum    ICRA D       15      Withdrawn
                                        FBP/FBD^
^Export Packing Credit (EPC) cum Foreign Bills Purchases/Discount (FBP/FBD)
Devbhumi Realtors Pvt Ltd               FB-TL                 ICRA A       18750   Reaffirmed
Devbhumi Realtors Pvt Ltd               Unallocated           ICRA A       1000    Reaffirmed
Fritzmeier Motherson Cabin              TL                    ICRA BBB+    72      -
Engineering Ltd
(Reason for delay in carrying out periodic review:Review process is underway)
Fritzmeier Motherson Cabin              Fund Based –CC Fac    ICRA BBB+    130     -
Engineering Ltd
(Reason for delay in carrying out periodic review:Review process is underway)
Fritzmeier Motherson Cabin              Unallocated Limits    ICRA BBB+    130     -
Engineering Ltd
(Reason for delay in carrying out periodic review:Review process is underway)
Icici Bank Ltd                          Basel III Compliant   ICRA         135000  Outstanding
                                        Additional Tier I     AA+(hyb)
                                        Bonds
Icici Bank Ltd                          Lower Tier II Bonds   ICRA AAA     144510  Outstanding
                                        Programme
Icici Bank Ltd                          Unsecured Redeemable  ICRA AAA     350000  Outstanding
                                        LT Bonds Programme
                                        (Infrastructure Bonds Programme)
Icici Bank Ltd                          Subordinated Debt     ICRA AAA     888     Outstanding
                                        Programme*
* Taken over from erstwhile Bank of Rajasthan Limited
Icici Bank Ltd                          LT BondsProgramme#    ICRA AAA     6886.8  Outstanding
# From erstwhile ICICI Limited; Amount Outstanding,as on November 30, 2016,including accrued
interest on zero coupon bonds
Icici Bank Ltd                          Basel III Compliant   ICRA         100000  Outstanding
                                        Tier II Bonds         AAA(hyb)
Infrastructure Leasing                  LT –TL                ICRA AA+     3500    Reaffirmed
&Financial Services Ltd
(Downgraded from ICRA AAA (stable) and placed under Watch with Developing Implications)
Infrastructure Leasing                  NCD Programme         ICRA AA+     44750   Reaffirmed
&Financial Services Ltd
(Downgraded from ICRA AAA (stable) and placed under Watch with Developing Implications)
Ireo Hospitality Company Pvt            LT FB limits          ICRA BB+     8633    Revised from
Ltd                                                                                ICRA BBB
Ireo Hospitality Company Pvt            LT non-FBL            ICRA BB+     600     Revised from
Ltd                                                                                ICRA BBB
Jai Maakali Fish Farms Pvt Ltd          CC                    ICRA B-      450     -
(Rating continuoustoremain under ‘Issuer Not Cooperating’ category)
Karnataka State Road Transport          FB TL                 ICRA BBB+    5000    Reaffirmed
Corporation
Khadim India Ltd                        CC Limits             ICRA A       1100    Upgraded
                                                                                   from ICRA A-
Khadim India Ltd                        LOC/BG                ICRA A       265     Upgraded
                                                                                   from ICRA A-
Khadim India Ltd                        TL                    ICRA A-      -       Withdrawn
Nezone Industries Ltd                   FB Working Capital FacICRA BB      30      Withdrawn
Nezone Industries Ltd                   Unallocated Limit     ICRA BB/A4   99      Withdrawn
Pitambara Foods                         Bk Fac                ICRA B+/A4   60      -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Prestige Estates Projects Ltd           Bk lines              ICRA A+      35000   Outstanding
Prestige Estates Projects Ltd           NCDs                  ICRA A+      8000    Outstanding
Prestige Estates Projects Ltd           NCDs                  ICRA A+      -       Withdrawn
Prestige Estates Projects Ltd           NCDs                  ICRA A+      4000    Assigned
Roop Technology Pvt Ltd                 ActionLT FB / non-FB  ICRA B       143.7   Reaffirmed
Roop Technology Pvt Ltd                 LT -interchangeable   ICRA B       -       Reaffirmed
Roop Technology Pvt Ltd                 LT / ST -unallocated  ICRA B/A4    6.3     Reaffirmed
Salarpuria Properties Pvt Ltd           FB-TL                 ICRA A       910     Reaffirmed
Salarpuria Properties Pvt Ltd           FB-Working Capital FacICRA A       910     Reaffirmed
Salarpuria Properties Pvt Ltd           Non-fund              ICRA A       843.7   Reaffirmed
                                        Based-Working Capital
                                        Fac
Salarpuria Properties Pvt Ltd           Unallocated           ICRA A       5       Reaffirmed
Sattva Developers Pvt. Ltd.             FB-TL                 ICRA A       130     Reaffirmed
Sattva Developers Pvt. Ltd.             FB-Working Capital    ICRA A       880     Reaffirmed
                                        Facilitie
Talwalkars Better Value                 NCD Programme         ICRA AA-     -       Reassigned
Fitness Ltd                                                                        from ICRA AA-
(Rating watch with developing implications removed)
Talwalkars Better Value                 Long-TL               ICRA AA-     -       Reassigned
Fitness Ltd                                                                        from ICRA AA-
(Rating watch with developing implications removed)
Talwalkars Better Value                 Proposed NCD ProgrammeICRA AA-     -       Reassigned
Fitness Ltd                                                                        from ICRA AA-
(Rating watch with developing implications removed)
Talwalkars Better Value                 NCD Programme         ICRA AA-     -       Withdrawn
Fitness Ltd
Talwalkars Better Value                 Long-TL               ICRA AA-     -       Withdrawn
Fitness Ltd
Texture Clothing Company                LT fund based–TL      ICRA B       12      Assigned
Vijaya Bank                             Additional TierI      ICRA AA-     13250   Reaffirmed
                                        Bonds Programme
                                        –Basel III
Vijaya Bank                             Tier II Bonds         ICRA AA+     14500   Reaffirmed
                                        Programme –Basel III

--------------------------------------------------------------------------------------------
$: 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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