December 17, 2018 / 11:20 AM / 6 months ago

ICRA ratings for Indian debt instruments-Dec 17

    Dec 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 14, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Api Ispat And Powertech Pvt Ltd         LOC                   ICRA A1      650     Reaffirmed
Api Ispat And Powertech Pvt Ltd         Credit Exposure Limit ICRA A1      10      Reaffirmed
Asset Reconstruction Company            CP programme          ICRA A1+     2000    Assigned
(I) Ltd
Bamnipal Steel Ltd                      CP Programme          ICRA A1+(S)  50000   outstanding
Bamnipal Steel Ltd                      ST Borrowing ProgrammeICRA A1+(S)  115000  outstanding
Bamnipal Steel Ltd                      Proposed ST Borrowing Provisional  15000   extended
                                        Programme             ICRA A1+(S)          /outstanding
Ccl International Ltd                   ST - Non Fund Based   ICRA A4      85      Withdrawn
Dharampal Satyapal Ltd                  ST non-FB             ICRA A1+     50      outstanding
Dr. Reddy’S Laboratories Ltd.           ST, FB / Non-FBL      ICRA A1+     0       Reaffirmed
General Commodities Pvt Ltd             ST – Fund Based       ICRA A4+     200     Reaffirmed
General Commodities Pvt Ltd             ST – Non Fund Based   ICRA A4+     57      Reaffirmed
Indian Products Pvt Ltd                 ST – Fund Based       ICRA A4+     1500    Reaffirmed
Indian Products Pvt Ltd                 ST – Non Fund based   ICRA A4+     280     Reaffirmed
Khaitan Winding Wire Pvt Ltd            Non FB Limits         ICRA A4+     103.8   Withdrawn
Kss Abhishek Safety Systems             Non-fund Based        ICRA A2+     0       upgraded
Pvt. Ltd.                                                                          from ICRA A2
Mehta Petro Refineries Ltd              Non-FBL               ICRA A3      750     Outstanding
Real Ispat & Power Ltd                  BG                    ICRA A1      10      Reaffirmed
Real Ispat & Power Ltd                  Credit Exposure Limit ICRA A1      4       Reaffirmed
Real Ispat & Power Ltd                  Untied Limit          ICRA A1      6       Reaffirmed
Sln Technologies Pvt Ltd                ST Non-fund based -   ICRA D       62.5    Revised from
                                        Working Capital Fac                        ICRA A4
Utkarsh Small Finance Bank Ltd          CD Programme          ICRA A1      10000   outstanding
Vardhini Industries                     ST: Non-FB Fac – BG   ICRA A4      10      Assigned

MEDIUM TERM RATINGS:
-------------------
Fincare Small Finance Bank Ltd          Fixed Deposit         MA+          500     Revised from
                                        Programme                                  MA
LONG TERM RATINGS:
-------------------
Anamudi Real Estates Llp                Fund based-TL         ICRA A+      2750    Reaffirmed
Aparna Constructions And                LT: TL Fac            ICRA A-      4170.1  Upgraded
Estates Pvt Ltd                                                                    from ICRA
                                                                                   BBB+
Aparna Constructions And                LT: FB Fac            ICRA A-      255     Upgraded
Estates Pvt Ltd                                                                    from ICRA
                                                                                   BBB+
Aparna Constructions And                LT: Unallocated       ICRA A-      1122.4  Upgraded
Estates Pvt Ltd                                                                    from ICRA
                                                                                   BBB+
Api Ispat And Powertech Pvt Ltd         TL                    ICRA A       -       Withdrawn
Api Ispat And Powertech Pvt Ltd         CC                    ICRA A+      500     Upgraded
                                                                                   from ICRA A
Ccl International Ltd                   LT - Fund Based/ CC   ICRA BB      50      Withdrawn
Corporation Bank                        CDs                   ICRA A1+ /   300000  Reaffirmed
Corporation Bank                        Lower Tier II Bonds   ICRA AA-     -       Withdrawn
                                        Programme
Dharampal Satyapal Ltd                  LT FB Bk Fac          ICRA AA-     7057.5  Outstanding
Dharampal Satyapal Ltd                  LT unallocated        ICRA AA-     1892.5  Outstanding
Dharampal Satyapal Ltd                  LT/ST interchangeable ICRA AA- /   -       Outstanding
                                                              ICRA A1+
Dr. Reddy’S Laboratories Ltd.           LT, FB / Non-FBL      ICRA AA+     0       Reaffirmed
Fincare Small Finance Bank Ltd          LT Bk Fac             ICRA A       750     Revised from
                                                                                   ICRA A-
Gour Nitye Tea & Industries Ltd         FB-TL                 ICRA B+      30.7    Assigned
Gour Nitye Tea & Industries Ltd         FB –CC                ICRA B+      33      Assigned
Gour Nitye Tea & Industries Ltd         Unallocated Limit     ICRA B+ /    11.3    Assigned
                                                              ICRA A4
Gvk Jaipur Expressway Pvt Ltd           TL                    ICRA A-      7911.7  
Reason for delay in carrying out periodic review: Review process is underway
Haldiram Snacks Pvt Ltd                 NCD Programme         ICRA AA      1000    Reaffirmed
removed from the “(Issuer Not Cooperating)” category
Indian Products Pvt Ltd                 LT – Fund Based       ICRA BB+     -       Reaffirmed
                                        (sublimit)
Khaitan Winding Wire Pvt Ltd            FB Limits – CC        ICRA BB+     200     Withdrawn
Khaitan Winding Wire Pvt Ltd            FB Limits – EPC (Sub- ICRA BB+     -       Withdrawn
                                        Limit of CC)
Khaitan Winding Wire Pvt Ltd            Unallocated Limits    ICRA BB+ /   6.2     Withdrawn
                                                              ICRA A4+
Kss Abhishek Safety Systems             CC                    ICRA A-      -       Upgraded
Pvt. Ltd.                                                                          from ICRA
                                                                                   BBB+
M B Ceramic Llp                         TL                    ICRA B+      81.7    Assigned
M B Ceramic Llp                         CC                    ICRA B+      30      Assigned
Manglam Build-Developers Ltd            LT FB TL              ICRA BBB-    2120    Assigned
Manoj Vaibhav Jewellers Pvt             CC                    ICRA BB      260
Ltd (Erstwhile Vaibhav
Jewellers)
Reason for delay in carrying out periodic review: Review process is underway
Manoj Vaibhav Jewellers Pvt             Unallocated Limits    ICRA BB      40
Ltd (Erstwhile Vaibhav
Jewellers)
Reason for delay in carrying out periodic review: Review process is underway
Mehta Petro Refineries Ltd              FBL                   -            -       -
Mehta Petro Refineries Ltd              Fund based sub-limits#ICRA BBB-    -       Outstanding
                                                              /ICRA A3
#Total utilisation of fund based and non-fund based sublimits should not exceed Rs. 75.00 crore 
Mehta Petro Refineries Ltd              Non-fund based        ICRA BBB-    -       Outstanding
                                        sub-limits#           /ICRA A3
#Total utilisation of fund based and non-fund based sublimits should not exceed Rs. 75.00 crore 
Mehta Petro Refineries Ltd              Unallocated limits    ICRA BBB-    50      Outstanding
                                                              /ICRA A3
Nhpc Ltd                                LT bonds programme    ICRA AAA     62500
Raghunath Agro Tech (Pvt) Ltd           FB- CC                ICRA BB-     300     Withdrawn
 
Real Ispat & Power Ltd                  LOC                   ICRA A+      250     Upgraded
                                                                                   from ICRA A
Real Ispat & Power Ltd                  CC                    ICRA B+      500     Assigned
Saraswatipur Tea & Industries           FB-TL                 ICRA BB-     6.3     Assigned
Ltd
Saraswatipur Tea & Industries           FB –CC                ICRA BB-     101     Assigned
Ltd
Saraswatipur Tea & Industries           Unallocated Limit     ICRA BB- /   17.7    Assigned
Ltd                                                           ICRA A4
Simhapuri Energy Ltd                    TL                    ICRA D       21730.1
(Erstwhile Simhapuri Energy
Pvt. Ltd.)
(Issuer Not Cooperating)
Simhapuri Energy Ltd                    Unallocated Limits    ICRA D       338
(Erstwhile Simhapuri Energy
Pvt. Ltd.)
(Issuer Not Cooperating)
Sln Technologies Pvt Ltd                LT FB - TL            ICRA D       30      Revised from
                                                                                   ICRA BB-
Sln Technologies Pvt Ltd                LT Fund based -       ICRA D       45      Revised from
                                        Working Capital Fac                        ICRA BB-
Sln Technologies Pvt Ltd                LT Unallocated        ICRA D       5       Revised from
                                                                                   ICRA BB-
Ssbm Realty And Hospitality             LT – FB               ICRA BB-     142.6   Withdrawn
Pvt Ltd
Ssbm Realty And Hospitality             LT – Unallocated      ICRA BB-     7.4     Withdrawn
Pvt Ltd
Utkarsh Small Finance Bank Ltd          NCD Programme         ICRA A       0       Withdrawn
Utkarsh Small Finance Bank Ltd          NCD Programme         ICRA A       500     Reaffirmed
V-Access India Pvt. Ltd.                Issuer Rating         ICRA BBB-    -       Assigned
Vardhini Industries                     LT: FB Fac- Overdraft ICRA B+      110     Assigned
Vardhini Industries                     Long/ ST: Unallocated ICRA B+ /    30      Assigned
                                                              ICRA A4
--------------------------------------------------------------------------------------------
$: 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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