December 19, 2017 / 10:47 AM / 6 months ago

ICRA ratings for Indian debt instruments-Dec 19

    Dec 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 18, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Art Affordable Housing Finance          Bk Fac                ICRA BBB 50  500
(India) Ltd
Barclays Bank Plc (India                PTC Series A1         ICRA         6088.3  Withdrawn
Operations)                                                   A1+(SO)
Bhavin Agri-Infra Pvt Ltd               Non-fund based limits ICRA A4      140
Issuer Not Cooperating
Chandra Singh Contractors               ST: NFBL              ICRA A4      9
Review process is underway
Futuristic Packaging Pvt. Ltd           PC/PCFC*              ICRA A4
*Sub-limit of cash credit. Review process is underway
Futuristic Packaging Pvt. Ltd           FDBP/FUDBP*           ICRA A4
*Sub-limit of cash credit. Review process is underway
Futuristic Packaging Pvt. Ltd           BG                    ICRA A4      1.5
Review process is underway
Futuristic Packaging Pvt. Ltd           LOC                   ICRA A4      50
Review process is underway
Futuristic Packaging Pvt. Ltd           Forward Exchang       ICRA A4      3.5
                                        Contract
Review process is underway
Ganesha Ecosphere Ltd                   ST fund- based Fac    ICRA A2+     35      outstanding
Ganesha Ecosphere Ltd                   ST non-FB Fac         ICRA A2+     102     outstanding
Janalakshmi Financial Services          CP                    ICRA A2+     9000    Revised from
Ltd                                                                                ICRA A1
Lh Sugar Factories Ltd                  Non-FBL               ICRA A2+     50      Reaffirmed
Opg Power Generation Pvt Ltd            Non-FBL (LC)          ICRA A1      4431.5  Withdrawn
Pioneer Fil-Med Pvt Ltd                 Non Fund based- BG    ICRA A4      90
Issuer Not Cooperating
Quality Foils (India) Pvt Ltd           Non-Fund based- BG    ICRA A4+     120
Issuer Not Cooperating
Ramkrishna Forgings Ltd                 Non-fund              ICRA A2+     2400    Reaffirmed
                                        based-Working Capital
                                        Fac
Tata Business Support Services          CP Programme**        ICRA A1+     50      Reaffirmed
Ltd
**Commercial paper carved out of existing working capital limits
Tata Power Delhi Distribution           ST Debt               ICRA A1+     2000    Reaffirmed
Ltd
Tata Power Delhi Distribution           CP                    ICRA A1+     3000    Reaffirmed
Ltd
Tata Power Delhi Distribution           Non-fund based -      ICRA A1+     7250    Reaffirmed
Ltd                                     Working Capital Fac

MEDIUM TERM RATINGS:
-------------------
Sri Sarvaraya Sugars Ltd                Unallocated Limits    MB+          73.9    Reaffirmed
                                        Fixed Deposit
LONG TERM RATINGS:
-------------------
Adam & Coal Resources Pvt Ltd           Bk Fac                ICRA BBB     950
                                                              /A3+
Issuer Not Cooperating
Bhavin Agri-Infra Pvt Ltd               FBL                   ICRA B+      20
Issuer Not Cooperating
Chandra Singh Contractors               LT: FBL               ICRA BB      94.5
Review process is underway
Ess Kay Fincorp Ltd                     NCD Programme (Tier   ICRA BBB     165     Withdrawn
                                        II Debt)
Future Financial Services Pvt           PTC Series A1         ICRA A-(SO)  121.4   Withdrawn
Ltd
Future Financial Services Pvt           PTC Series A1         ICRA A+(SO)  444.1   Withdrawn
Ltd
Future Financial Services Pvt           PTC Series A1         ICRA         117.2   Withdrawn
Ltd                                                           AA-(SO)
Future Financial Services Pvt           PTC Series A2         ICRA BBB-    29.2    Withdrawn
Ltd                                                           (SO)
Futuristic Packaging Pvt. Ltd           CC                    ICRA BB-     91
Review process is underway
Futuristic Packaging Pvt. Ltd           TL                    ICRA BB-     40
Review process is underway
Futuristic Packaging Pvt. Ltd           Unallocated Limits    ICRA BB-     4
Review process is underway
Ganesha Ecosphere Ltd                   LT FB TL Fac          ICRA A-      672     outstanding
Ganesha Ecosphere Ltd                   LT FB working capital ICRA A-      1015    outstanding
                                        Fac
Ganesha Ecosphere Ltd                   LT non-FB Fac         ICRA A-      16      outstanding
Ganesha Ecosphere Ltd                   LT/ST– Unallocated    ICRA         290     outstanding
                                                              A-(Stable)/
                                                              ICRA A2+;
Janalakshmi Financial Services          LT Bk Fac             ICRA A-      13000   Revised from
Ltd                                                                                ICRA A
Janalakshmi Financial Services          Subordinated Debt     ICRA A-      7510    Revised from
Ltd                                                                                ICRA A
Janalakshmi Financial Services          NCDs                  ICRA A-      37160   Revised from
Ltd                                                                                ICRA A
Krishna Tuff Pvt Ltd                    TL                    ICRA B       43.2
Issuer Not Cooperating
Krishna Tuff Pvt Ltd                    CC                    ICRA B       15
Issuer Not Cooperating
Krishna Tuff Pvt Ltd                    Unallocated Limits    ICRA B       11.8
Issuer Not Cooperating
Lh Sugar Factories Ltd                  FB Limits             ICRA A-      850     Reaffirmed
Lh Sugar Factories Ltd                  TL                    ICRA A-      983.3   Reaffirmed
One Capitall Ltd                        LT Fund Based Bk LinesICRA BB      900
Review process is underway
Opg Power Generation Pvt Ltd            TL                    ICRA A+      15676.5 Withdrawn
Opg Power Generation Pvt Ltd            FB limits             ICRA A+      1950    Withdrawn
Opg Power Generation Pvt Ltd            Non-FBL (BG)          ICRA A+      1748.5  Withdrawn
Orange Dnd Wind Power Pvt. Ltd.         TL                    ICRA BBB     1260    Reaffirmed
Orange Dnd Wind Power Pvt. Ltd.         CC                    ICRA BBB     60      Reaffirmed
Pioneer Fil-Med Pvt Ltd                 Fund based-CC         ICRA BB-     90
Issuer Not Cooperating
Pioneer Fil-Med Pvt Ltd                 Fund based-TL         ICRA BB-     12.1
Issuer Not Cooperating
Pioneer Fil-Med Pvt Ltd                 LT/ST-Unallocated     ICRA BB- /A4 7.9
Issuer Not Cooperating
Quality Foils (India) Pvt Ltd           Fund based-CC         ICRA BB+     230
Issuer Not Cooperating
Ramkrishna Forgings Ltd                 FB-TL 380             ICRA A-      3800    Reaffirmed
Ramkrishna Forgings Ltd                 Fund based- Working   ICRA A-      4000    Reaffirmed
                                        Capital Fac 400
Shree Krishna Rice Mills                Fund Based            ICRA B-      150
Issuer Not Cooperating
Sri Sarvaraya Sugars Ltd                TL                    ICRA B+      829.5   Reaffirmed
Sri Sarvaraya Sugars Ltd                FB Limits             ICRA B+      1320    Reaffirmed
                                        Programme
Swarna Tollway Pvt Ltd                  NCD Programme         Provisional  1060    Assigned
                                                              ICRA AAA(SO)
Swarna Tollway Pvt Ltd                  NCD                   Provisional  140     Assigned
                                        ProgrammeUnalloacted  ICRA AAA(SO)
Tata Business Support Services          FB Limits             ICRA A+      430     Reaffirmed
Ltd
Tata Business Support Services          FB/Non-FBL            ICRA         350     Reaffirmed
Ltd                                                           A+/ICRA A1+
Tata Business Support Services          LT/ST Non-FBL         ICRA         170     Reaffirmed
Ltd                                                           A+/ICRA A1+
Tata Power Delhi Distribution           Fund based - TL       ICRA AA-     39000   Reaffirmed
Ltd
Tata Power Delhi Distribution           Fund based - Working  ICRA AA-     2450    Reaffirmed
Ltd                                     Capital Fac
Unify Texturisers Pvt Ltd               Fund based - TL       ICRA BB-     650     Withdrawn
Unify Texturisers Pvt Ltd               Fund based – CC       ICRA BB-     70      Withdrawn
Unify Texturisers Pvt Ltd               Fund based/ Non FB    ICRA BB- /   0       Withdrawn
                                        Limits                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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