August 7, 2019 / 11:25 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, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Angadpal Industries Pvt Ltd             Non-fund Based        ICRA A4+     20      Reaffirmed
                                        Working Capital Fac
Caspro Metal Industries Pvt Ltd         ST Non-fund Based     ICRA A3+     2.5     Reaffirmed
Crescent Petrochem Pvt Ltd              ST Non-fund based     ICRA A2      100     upgraded
                                                                                   from ICRA A3+
Endress+Hauser (India)                  ST – Unallocated      ICRA A1      20      Reaffirmed
Automation Instrumentation Pvt
Ltd
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     85000   Assigned
                                        financing)
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     12000   Outstanding
Jm Financial Capital Ltd                CP (IPO Financing)    ICRA A1+     10000   Assigned
                                        Programme
Jm Financial Capital Ltd                CP (CP) Programme     ICRA A1+     10000   Outstanding
Jm Financial Products Ltd               CP (CP) programme     ICRA A1+     30000   Assigned
                                        (IPO Financing)
Jm Financial Products Ltd               CP Programme          ICRA A1+     45000   Outstanding
Jm Financial Properties And             CP (CP) Programme     ICRA A1+     40000   Assigned
Holdings Ltd                            (IPO Financing)
Jm Financial Properties And             CP Programme          ICRA A1+     2500    Outstanding
Holdings Ltd
Micron Electricals                      Non-FBL               ICRA A1      3500    Reaffirmed
National Payments Corporation           Bk Lines programme    ICRA A1+     61000   Assigned
Of India
Ncl Veka Ltd                            NFBL                  ICRA A2;     65      Reaffirmed
Odisha Generation Phase Ii              Non-FBL -             ICRA A1+     -       Assigned
Transmission Ltd
Rishabh Metals & Chemicals Pvt          ST Non-FB Fac         ICRA A3      70      Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Acr Machining Pvt. Ltd                  LT – Fund Based (CC)  ICRA BBB-    15      Reaffirmed
Acr Machining Pvt. Ltd                  LT – Unallocated      ICRA BBB-    30      Reaffirmed
Angadpal Industries Pvt Ltd             FB TL                 ICRA BB      8.6     Downgraded
                                                                                   from ICRA BB+
Angadpal Industries Pvt Ltd             FB Working Capital FacICRA BB      88.5    Downgraded
                                                                                   from ICRA BB+
Angadpal Industries Pvt Ltd             Unallocated Limit     ICRA BB      8       downgraded
                                                                                   from ICRA
                                                                                   BB+; ICRA A4+
reaffirmed
Caspro Metal Industries Pvt Ltd         LT FB TL              ICRA BBB     300     Reaffirmed
Caspro Metal Industries Pvt Ltd         LT FB CC              ICRA BBB     25      Reaffirmed
Caspro Metal Industries Pvt Ltd         LT Unallocated        ICRA BBB     22.5    Reaffirmed
Crescent Petrochem Pvt Ltd              LT FB                 ICRA BBB+    55      upgraded
                                                                                   from ICRA BBB
Crescent Petrochem Pvt Ltd              LT/ST Unallocated     ICRA BBB+ /  45      upgraded
                                        Limits                ICRA A2              from ICRA
                                                                                   BBB/ICRA A3+
Endress+Hauser (India)                  LT – Fund Based – CC  ICRA A-      80      Reaffirmed
Automation Instrumentation Pvt
Ltd
Hardik Textiles Pvt Ltd                 Fund based – CC       ICRA BB-     150     upgraded
                                                                                   from ICRA B+
India Grid Trust                        Non- Convertible      ICRA AAA     5000    Assigned
                                        Debenture (NCD)
India Grid Trust                        Market Linked         ICRA AAA     2000    Assigned
                                        Debenture (MLD)
India Grid Trust                        Issuer rating         ICRA AAA     -       Outstanding
India Grid Trust                        Non- Convertible      ICRA AAA     5000    Assigned
                                        Debenture (NCD)
India Grid Trust                        Market Linked         ICRA AAA     2000    Assigned
                                        Debenture (MLD)
India Grid Trust                        Issuer rating         ICRA AAA     -       Outstanding
Jm Financial Capital Ltd                NCD (NCD) Programme   ICRA AA      2000    Outstanding
Jm Financial Capital Ltd                LT Market Linked      PP-MLDICRA   2000    Outstanding
                                        Debenture (Principal  AA
                                        Protected) {MLD (PP)} Programme
Jm Financial Products Ltd               NCD Programme         ICRA AA      23380   Outstanding
Jm Financial Products Ltd               NCD Programme (Public ICRA AA      20000   Outstanding
                                        Issue)
Jm Financial Products Ltd               LT, Bk Lines          ICRA AA      25000   Outstanding
Jm Financial Products Ltd               LT, Market Linked     PP-MLDICRA   5000    Outstanding
                                        Debenture (Principal  AA
                                        Protected) {MLD (PP)} Programme
Jm Financial Properties And             FB Bk Lines – TL      ICRA AA      1350    Outstanding
Holdings Ltd
Krushi Infras India Pvt Ltd             Unallocated Fac       ICRA         100     Withdrawn
                                                              B+/ICRA A4
Madura Micro Finance Ltd -              PTC Series A          ICRA A(SO)   293.3   Assigned
Northern Arc 2019
Mfi
Thodipuram
Madura Micro Finance Ltd                PTC Series A          ICRA A(SO)   196.6   Assigned
-Northern Arc 2019 Mfi
Thurston
Magma Fincorp Ltd                       TL (Bk)               ICRA AA-     17566.7 Assigned /
                                                                                   Outstanding
Magma Fincorp Ltd                       NCD Programme         ICRA AA-     3350    Outstanding
Magma Housing Finance Ltd               TL (Bk)               ICRA AA-     5721.1  Assigned /
                                                                                   Outstanding
Magma Housing Finance Ltd               NCD Programme         ICRA AA-     500     Outstanding
Maza Developers Pvt Ltd                 LT Unallocated Limits -            -       -
Maza Developers Pvt Ltd                 LT FB TL              ICRA BB      100     revised from
                                                                                   ICRA BB+
Mini Construction                       CC                    ICRA BB+     10      Reaffirmed
Mini Construction                       BG                    ICRA         110     Reaffirmed
                                                              BB+/ICRA A4+
Ncl Veka Ltd                            Fund Based TL         ICRA BBB+    107.9   Reaffirmed
Ncl Veka Ltd                            Fund Based CC Limits  ICRA BBB+    180     Reaffirmed
Ncl Veka Ltd                            Unallocated Limits    ICRA         7.1     Reaffirmed
                                                              BBB+/ICRA A2
Odisha Generation Phase Ii              TL                    ICRA AAA     5500    Assigned
Transmission Ltd
Odisha Generation Phase Ii              CC                    ICRA AAA     400     Assigned
Transmission Ltd
Reddy Pharmaceuticals Ltd               Fund based/CC         ICRA B+      27      Assigned
Reddy Pharmaceuticals Ltd               Unallocated limits    ICRA B+      73      Assigned
Rishabh Metals & Chemicals Pvt          LT FB CC              ICRA BBB-    50      Reaffirmed
Ltd
Rubber Matters Pvt Ltd                  NDS                   ICRA B       -       Withdrawn
Removed from ‘Issuer not cooperating’ Category
Sheel Diamond Exports Ltd               LT FB                 ICRA BB      850     Reaffirmed
Sheel Diamond Exports Ltd               LT Unallocated        ICRA BB      350     Reaffirmed
Sheel Gems                              LT FB                 ICRA BB      870     Reaffirmed
Sri Lakshmi Srinivasa Hi-Tech           Fund based – CC       ICRA BB-     120     upgraded
Industries                                                                         from ICRA B+
Sri Lakshmi Srinivasa Hi-Tech           Fund based – TL       ICRA BB-     3.9     upgraded
Industries                                                                         from ICRA B+
Sri Lakshmi Srinivasa Hi-Tech           Unallocated           ICRA BB-     33.1    upgraded
Industries                                                                         from ICRA B+
--------------------------------------------------------------------------------------------
$: 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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