December 20, 2017 / 12:14 PM / 6 months ago

ICRA ratings for Indian debt instruments-Dec 20

    Dec 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 19, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Akp Foundries Pvt Ltd                   Non-FB Fac            ICRA A4+     10      Withdrawn
Bandipur Sopan Welfare Society          MFI Grading           M5           -       Assigned
Caramia Granito Llp                     Non-fund Based BG     ICRA A4      15      Assigned
Krishnae Infrastructure Pvt Ltd         Non-fund based-BG     ICRA A3      400     Reaffirmed
Livanto Ceramic Pvt Ltd                 BG                    ICRA A4      15      ISSUER NOT
                                                                                   COOPERATING
Mangalam Pipes Pvt Ltd                  FB Fac                ICRA A4      30      ISSUER NOT
                                                                                   COOPERATING
Mangalam Pipes Pvt Ltd                  Non-fund based Fac    ICRA A4      34.7    ISSUER NOT
                                                                                   COOPERATING
Mutual Industries Ltd                   CP                    ICRA A1+     250     Withdrawn
with developing implications
R. D. Samant Contractors Pvt            Fund based- Standby   ICRA A4+     15      Assigned
Ltd                                     Line of Credit
R. D. Samant Contractors Pvt            Non Fund based- BG    ICRA A4+     70      Assigned
Ltd
Scott-Edil Advance Research             LC/FLC/BG             ICRA A3+     42      Withdrawn
Laboratories Amp; Education Ltd
ISSUER NOT COOPERATING
Scott-Edil Pharmacia Ltd                LC/FLC                ICRA A3+     250     Withdrawn
ISSUER NOT COOPERATING
Servocontrols Aerospace India           FB Fac                ICRA A4      2       ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Servocontrols Aerospace India           Non-FB Fac            ICRA A4      20      ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Therdose Pharma Pvt Ltd                 Non-fund based – BG   ICRA A4      20      Downgraded
                                                                                   from ICRA A4+
Removed from the Issuer Not Cooperating category
Therdose Pharma Pvt Ltd                 Non-fund based – LOC  ICRA A4      10      Downgraded
                                                                                   from ICRA A4+
Removed from the Issuer Not Cooperating category
Vijai Marine Services                   Non Fund based- BG    ICRA A4+     200     ISSUER NOT
                                                                                   COOPERATING
LONG TERM RATINGS:
-------------------
Ajay Engicone Pvt. Ltd.                 Non fund based- BG    ICRA D       84.7    ISSUER NOT
                                                                                   COOPERATING
Ajay Engicone Pvt. Ltd.                 Fund based- TL        ICRA D       2.8     ISSUER NOT
                                                                                   COOPERATING
Ajay Engicone Pvt. Ltd.                 Fund based-CC         ICRA D       12.5    ISSUER NOT
                                                                                   COOPERATING
Akp Foundries Pvt Ltd                   TL                    ICRA BB+     11      Withdrawn
Akp Foundries Pvt Ltd                   FB Fac                ICRA BB+     47.5    Withdrawn
Akp Foundries Pvt Ltd                   Unallocated Fac       ICRA BB+ /   1.5     Withdrawn
                                                              ICRA A4+
Anamudi Real Estates Llp                Fund based-TL         ICRA A+      2750    Reaffirmed
Arnav Technosoft Pvt Ltd                Fund based-CC         ICRA D       150     ISSUER NOT
                                                                                   COOPERATING
Bharat Financial Inclusion Ltd          PTC Series A1         ICRA         -       Withdrawn
(Bfil) (Erstwhile Sks                                         AAA(SO)
Microfinance Ltd)-Imlrt December 2015
Caramia Granito Llp                     FB TL                 ICRA B       195     Assigned
Caramia Granito Llp                     FB Working Capital FacICRA B       90      Assigned
Damodar Tradelinks Pvt Ltd              LT – FB limits        ICRA BB-     120     Reaffirmed
Electro Polychem Ltd                    LT – FB limits        ICRA BB-     180     Reaffirmed
International Combustion                Fund based- Working   ICRA BBB /   152.5   -
(India) Ltd                             Capital Fac           ICRA A2
International Combustion                Non-fund              ICRA BBB /   180     -
(India) Ltd                             based-Working Capital ICRA A2
Krishnae Infrastructure Pvt Ltd         Fund based-CC         ICRA BBB-    150     Reaffirmed
Krishnae Infrastructure Pvt Ltd         Unallocated           ICRA BBB-    450     Reaffirmed
                                                              /A3
Livanto Ceramic Pvt Ltd                 TL                    ICRA BB-     55.2    ISSUER NOT
                                                                                   COOPERATING
Livanto Ceramic Pvt Ltd                 CC Limit              ICRA BB-     35      ISSUER NOT
                                                                                   COOPERATING
Mangalam Pipes Pvt Ltd                  FB Fac                ICRA BB-     44      ISSUER NOT
                                                                                   COOPERATING
Mangalam Pipes Pvt Ltd                  TL                    ICRA BB-     6.9     ISSUER NOT
                                                                                   COOPERATING
Pioneer Urban Land Amp;                 Non-fund Based – BG   ICRA BBB     500     Revised from
Infrastructure Ltd                                                                 ICRA BBB+
R. D. Samant Contractors Pvt            Fund based- Working   ICRA BB      120     Assigned
Ltd                                     Capital Fac
Scott-Edil Advance Research             CC                    ICRA BBB     140     Withdrawn
Laboratories Amp; Education Ltd
ISSUER NOT COOPERATING
Scott-Edil Advance Research             TL                    ICRA BBB     218     Withdrawn
Laboratories Amp; Education Ltd
ISSUER NOT COOPERATING
Scott-Edil Pharmacia Ltd                CC                    ICRA BBB     500     Withdrawn
ISSUER NOT COOPERATING
Scott-Edil Pharmacia Ltd                TL                    ICRA BBB     18      Withdrawn
ISSUER NOT COOPERATING
Servocontrols Aerospace India           FB Fac                ICRA B-      14      ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Servocontrols Aerospace India           TL                    ICRA B-      64      ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Small Business Fincredit India          LT Bk Lines Programme ICRA A       2000    Assigned
Pvt Ltd
Small Business Fincredit India          NCD programme         ICRA A       4000    outstanding
Pvt Ltd
Sri Venkateswara Rice Mill              BLR                   ICRA B+      90      -
Starlite Lighting Ltd                   Non-Convertible       Provisional  800     Assigned
                                        Programme             ICRA A+(SO)
Therdose Pharma Pvt Ltd                 Fund based-TL         ICRA BB      54.7    Downgraded
                                                                                   from ICRA BB+
Removed from the Issuer Not Cooperating category
Therdose Pharma Pvt Ltd                 Fund based-CC         ICRA BB      70      Downgraded
                                                                                   from ICRA BB+
Removed from the Issuer Not Cooperating category
Therdose Pharma Pvt Ltd                 Unallocated Limits    ICRA BB      95.3    Downgraded
                                                              /ICRA A4             from ICRA
                                                                                   BB+/ICRA A4+
Removed from the Issuer Not Cooperating category
Ultralift India Llp                     FB - TL               ICRA B+      80      Assigned
V.M.Bakery Products Pvt Ltd             Fund based-TL         ICRA B-      54      Revised from
                                                                                   ICRA B
V.M.Bakery Products Pvt Ltd             Fund based- Working   ICRA B-      18      Revised from
                                        Capital Fac                                ICRA B
V.M.Bakery Products Pvt Ltd             Unallocated           ICRA B-      20      Revised from
                                                                                   ICRA B
Vijai Marine Services                   Fund based-CC         ICRA BB+     54      ISSUER NOT
                                                                                   COOPERATING
Vikram Hospital (Bengaluru)             Non-convertible       ICRA B       300     Upgraded
Pvt Ltd                                 Programme                                  from ICRA B-
Wave Beverages Pvt Ltd                  Fund based - TL       ICRA BB+     310.3   Reaffirmed
Wave Beverages Pvt Ltd                  Fund based - Working  ICRA BB+     350     Reaffirmed
                                        Capital Facility
Wave Beverages Pvt Ltd                  Unallocated MFI       ICRA BB+     135.9   Reaffirmed
                                        Grading
--------------------------------------------------------------------------------------------
$: 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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