August 8, 2019 / 11:32 AM / 10 days ago

ICRA ratings for Indian debt instruments-Aug 8

   Aug 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 7, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
IIFI Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     20000   Assigned
                                        Financing )
IIFI Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing )
IIFI Wealth Finance Ltd                 CP programme          ICRA A1+     30000   Outstanding
IIFI Wealth Management Ltd              CP programme (IPO     ICRA A1+     5000    Assigned
                                        Financing)
IIFI Wealth Management Ltd              CP programme          ICRA A1+     5000    Outstanding
Tata International Dlt Pvt Ltd          ST, FB Fac            -            -       -
Katira Construction Ltd                 BG                    ICRA A3+     976.5   Reaffirmed
Removed from (Issuer not Cooperative)
Kirby Building Systems &                NFBL                  ICRA A1+     9860    Outstanding
Structures India Pvt Ltd
Tata International Dlt Pvt Ltd          ST, Non-FB Fac        ICRA A1@     130     Reaffirmed
@: Ratings under watch with negative implications
LONG TERM RATINGS:
-------------------
Autotech-Sirmax India Pvt Ltd           FB Limits             ICRA BBB     170     Assigned
DS Toll Road Ltd                        Fund Based – TL       ICRA BB+     3320    Downgraded
                                                                                   from ICRA
                                                                                   BBB+
Rating continues to remain under ‘Issuer Not Cooperating’ category
IIFI Wealth Finance Ltd                 NCD Programme         ICRA AA      10000   Outstanding
IIFI Wealth Finance Ltd                 Unsecured NCD         ICRA AA      6500    Outstanding
                                        programme
IIFI Wealth Finance Ltd                 LT principal          PP-MLD ICRA  10000   Outstanding
                                        protected market      AA
                                        linked debenture programme
IIFI Wealth Finance Ltd                 LT principal          PP-MLD ICRA  35500   Outstanding
                                        protected market      AA
                                        linked debenture programme
IIFI Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
Katira Construction Ltd                 CC                    ICRA BBB     180     Reaffirmed
Removed from (Issuer not Cooperative)
Katira Construction Ltd                 Overdraft             ICRA BBB     10      Reaffirmed
Removed from (Issuer not Cooperative)
Kirby Building Systems &                Fund Based CC Limits  ICRA AA-     140     Outstanding
Structures India Pvt Ltd
Kirby Building Systems &                Unallocated Limits    ICRA AA-     2000    Outstanding
Structures India Pvt Ltd
Novagen Healthcare Pvt Ltd              LT TL                 ICRA BBB-    227     Assigned
Oriental Rubber Industries              Fund Based - TL       ICRA BBB-    200     Assigned
Pvt. Ltd.
Oriental Rubber Industries              FB                    ICRA BBB-    1500    Assigned
Pvt. Ltd.                                                     /ICRA A3
Oriental Rubber Industries              Non-Fund Based        ICRA BBB-    1000    Assigned
Pvt. Ltd.                                                     /ICRA A3
Tata International Dlt Pvt Ltd          LT / ST, Unallocated  -            -       -
                                        Fac
Tata International Dlt Pvt Ltd          Long-TL               ICRA A@      115     Reaffirmed
@: Ratings under watch with negative implications
Tata International Dlt Pvt Ltd          LT, FB Fac            ICRA A@      325     Reaffirmed
@: Ratings under watch with negative implications
--------------------------------------------------------------------------------------------
$: 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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