December 27, 2019 / 9:59 AM / 24 days ago

ICRA ratings for Indian debt instruments-Dec 27

   Dec 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 26, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhuwalka & Sons Pvt Ltd                 ST - Non-Fund Based   -            -       Reaffirmed
Bhuwalka & Sons Pvt Ltd                 ST - Interchangeable  ICRA A3      -       Reaffirmed
Ganeshprasad Impex Pvt Ltd              Non-fund based- LOC   ICRA A4      76.2    Withdrawn
Ganeshprasad Impex Pvt Ltd              Non-fund based-       ICRA A4      -       Withdrawn
                                        Buyers Credit
Godrej Properties Ltd                   CP                    ICRA A1+     2500    Assigned
Godrej Properties Ltd                   CP                    ICRA A1+     12500   Assigned
Icici Securities Ltd                    CP programme          ICRA A1+     25000   Reaffirmed
Kumaragiri Electronics Ltd              Non-FB facility       ICRA A4      40      Reaffirmed
Lagnam Spintex Ltd                      ST FB Limit           ICRA A3      10      Reaffirmed
Lagnam Spintex Ltd                      ST Non-FBL            ICRA A3      15.3    Reaffirmed
Lincoln Parenteral Ltd.                 Non-fund Based LOC    ICRA A2+     15      Reaffirmed
                                        (LC)
Lincoln Pharmaceuticals Ltd.            Non-fund Based LOC    ICRA A2+     100     Reaffirmed
                                        (LC)
Lincoln Pharmaceuticals Ltd.            Non-fund Based Bk     ICRA A2+     20      Reaffirmed
                                        Guarantee (BG)
Lincoln Pharmaceuticals Ltd.            Non-fund Based LC/BG  ICRA A2+     50      Reaffirmed
Patel Wood Works Amp; Timber            Non-fund based- LOC   ICRA A4      100     Withdrawn
Mart
Patel Wood Works Amp; Timber            Non-fund based-       ICRA A4      -       Withdrawn
Mart                                    Buyers Credit
Shakti Cables Pvt Ltd                   ST - NonFund Based    ICRA A4      15      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sonhira Sahakari Sakhar                 ST- Fund Based        ICRA A4      2000    Reaffirmed
Karkhana Ltd.
Removed from “Issuer Not Cooperating” category
Stci Finance Ltd                        CP Programme          ICRA A1+     10000   Reaffirmed
Synthetic Packers Pvt Ltd               ST - Non-Fund based   ICRA A3      169.2   -
Reason for delay in carrying out periodic review: - Review process is underway
Telawne Power Equipments Pvt            LT and ST Unallocated ICRA A4      23      -
Ltd                                     Limit
Rating continues to remain under Issuer Not Cooperating category
LONG TERM RATINGS:
-------------------
Appollo Distilleries Pvt Ltd            TL                    ICRA D       750     -
Continues to remain under the ‘Issuer Not Cooperating’ category
Bhuwalka & Sons Pvt Ltd                 LT - Fund based- CC   ICRA BBB-    380     Reaffirmed
Bhuwalka Castings & Forging             LT - Fund based- TL   -            -       -
Pvt Ltd
Bhuwalka Castings & Forging             LT – Unallocated      -            -       -
Pvt Ltd
Bhuwalka Castings & Forging             LT - Fund based-      ICRA BBB-    80      Reaffirmed
Pvt Ltd                                 Working Capital Fac - (Stable)
                                        CC
Bindu Vayu Urja Pvt Ltd                 FB TL                 ICRA BBB+    22449.8 Withdrawn
                                                              (CE)
                                                              (negative)
Bindu Vayu Urja Pvt Ltd                 FB Working Capital    ICRA BBB+    1815.4  Withdrawn
                                                              (CE)
                                                              (negative)
Deccan Alloys Pvt Ltd                   LT - Fund based-      ICRA BBB-    120     Reaffirmed
                                        Working Capital Fac -
                                        CC
Discovery Laboratories Pvt Ltd          CC                    ICRA         -       -
(Erstwhile Discovery                                          B(Stable);
Intermediates Pvt Ltd)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Empee Sugars And Chemicals Ltd          TL                    ICRA D       3849    -
Continues to remain under the ‘Issuer Not Cooperating’ category
Empee Sugars And Chemicals Ltd          CC                    ICRA D       1271.4  -
Continues to remain under the ‘Issuer Not Cooperating’ category
Empee Sugars And Chemicals Ltd          Non-Fund Based        ICRA D       1281.8  -
Continues to remain under the ‘Issuer Not Cooperating’ category
Empee Sugars And Chemicals Ltd          Unallocated           ICRA D       7.8     -
Continues to remain under the ‘Issuer Not Cooperating’ category
Ganeshprasad Impex Pvt Ltd              Unallocated limits    ICRA B-      123.8   Withdrawn
                                                              /ICRA A4
Ganeshprasad Impex Pvt Ltd              FB - CC               ICRA         -       Withdrawn
                                                              B-(Stable)
Global Infra Fzco                       LOC                   ICRA         850     revised from
                                                              BBB-(CE)             ICRA A-(CE)&
Godrej Properties Ltd                   LT/ ST – Proposed     ICRA AA /A1+ 2500    Outstanding
Godrej Properties Ltd                   LT – Fund Based/CC    ICRA         16500   Outstanding
                                                              AA(Stable);
Godrej Properties Ltd                   LT – Non-FBL          ICRA         1000    Outstanding
                                                              AA(Stable);
Godrej Properties Ltd                   NCD Programme         ICRA         5000    Outstanding
                                                              AA(Stable);
Icici Securities Ltd                    NCD programme         ICRA AAA     500     Reaffirmed
Jak Associates                          LT– Fund based        ICRA B+      24.6    -
                                                              (Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Jak Associates                          LT-NonFund Based      ICRA B+      10      -
                                                              (Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Jak Associates                          LT - Unallocated Fac  ICRA B+      35.4    -
                                                              (Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Kaveri Silk Mills Pvt Ltd               LT FB limits          ICRA B+      326     -
                                                              (Stable)
Rating downgraded from ICRA BB-(Stable) and continues to remain under Issuer Not Cooperating
category
Kaveri Silk Mills Pvt Ltd               LT- Unallocated limit ICRA B+      6.2     -
                                                              (Stable)
Rating downgraded from ICRA BB-(Stable) and continues to remain under Issuer Not Cooperating
category
Kumaragiri Electronics Ltd              Fund based-TL         ICRA B-      26.4    Reaffirmed
                                                              (stable)
Kumaragiri Electronics Ltd              Fund based- Working   ICRA B-      90      Reaffirmed
                                        Capital Fac           (stable)
Lagnam Spintex Ltd                      LT FB Limit           ICRA BBB-    1490.6  Reaffirmed
                                                              (Negative);
Lincoln Parenteral Ltd.                 FB External           ICRA A-      5       Reaffirmed
                                        Commercial Borrowing
Lincoln Parenteral Ltd.                 FB CC                 ICRA A-      30      Reaffirmed
Lincoln Pharmaceuticals Ltd.            FB Working Capital    ICRA A-      530     Reaffirmed
                                        Fac
Lincoln Pharmaceuticals Ltd.            Interchangeable Limit ICRA A-      -       Reaffirmed
Lincoln Pharmaceuticals Ltd.            Unallocated Limit     ICRA A-      77      Reaffirmed
Medvarsity Online Ltd.                  Bk loan Rating        ICRA BBB-    130     -
                                                              (Stable)
Reason for delay in carrying out periodic review – Delay in sharing information
Meenakshi Bright Steel Bars             LT - Fund based-      ICRA BBB-    250     Reaffirmed
Pvt Ltd                                 Working Capital Fac -
                                        CC
Modrina Auto Enterprises                FBL-CC                ICRA B+      70      -
                                                              (Stable)
Rating downgraded from ICRA BB- (Stable) and Rating continues to remain under the ‘Issuer Not
Cooperating’ category
Modrina Auto Enterprises                Unallocated Limits    ICRA B+      90      -
                                                              (Stable)
Rating downgraded from ICRA BB- (Stable) and Rating continues to remain under the ‘Issuer Not
Cooperating’ category
Patel Wood Works Amp; Timber            FB - CC               ICRA B-      -       Withdrawn
Mart
Patel Wood Works Amp; Timber            Unallocated limits    ICRA         101     Withdrawn
Mart                                                          B-/ICRA A4
Pilot 2 Wheelers Pvt Ltd                FB – Working Capital  ICRA BB      230     Assigned
                                        Fac
Pilot 2 Wheelers Pvt Ltd                Unallocated Limits    ICRA BB      20      Assigned
Rmz Ecoworld Infrastructure             TL                    ICRA A       37538   Assigned
Pvt Ltd                                                       (Negative)
Rmz Ecoworld Infrastructure             NCD                   ICRA A       13750   Reaffirmed
Pvt Ltd                                                       (Negative)
Rmz Ecoworld Infrastructure             NCD Unallocated       ICRA A       -       Assigned
Pvt Ltd                                                       (Negative)
Rmz Infotech Pvt Ltd                    TL                    ICRA A       31567.2 Assigned
                                                              (Negative)
Rmz Infotech Pvt Ltd                    LT bonds              ICRA A       -       Reaffirmed
                                                              (Negative)
Shakti Cables Pvt Ltd                   LT / ST Unallocated   ICRA B- /A4  37.5    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shakti Cables Pvt Ltd                   LT Cash credit        ICRA         17.5    -
                                                              B-(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shakti Cables Pvt Ltd                   LT Non Fund Based     ICRA         30      -
                                                              B-(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shangri-La Industries Pvt Ltd           FB limits             ICRA B-      430     -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shapoorji Pallonji Solar                TL                    ICRA BBB(CE) 2500    Revised from
Holdings Pvt Ltd                                                                   ICRA A-(CE)&
Shiv Shanker Rice Mill                  CC                    ICRA BB-     365     Withdrawn
Shiv Shanker Rice Mill                  TL                    ICRA BB-     10      Withdrawn
Sonhira Sahakari Sakhar                 LT-Fund Based Term    ICRA         1500    -
Karkhana Ltd.                           Long                  B+(Stable)
Rating upgraded to ICRA B+(Stable) from ICRA B(Stable) for existing amount and assigned to
enhanced portion; Removed from “Issuer Not Cooperating” category
Sri Sudha Sesamum Agro Foods            TL                    ICRA         0.4     -
And Exports Pvt. Ltd.                                         B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Sudha Sesamum Agro Foods            CC                    ICRA         120     -
And Exports Pvt. Ltd.                                         B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Sudha Sesamum Agro Foods            Unallocated           ICRA         9.6     -
And Exports Pvt. Ltd.                                         B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Stci Finance Ltd                        NCD Programme         ICRA AA-     10000   Reaffirmed
Stci Finance Ltd                        LT Bk Lines           ICRA AA-     2000    Reaffirmed
Sterling & Wilson Pvt Ltd               Fund based-LT         ICRA BBB-    400     -
                                                              (Stable)
Downgraded from ICRA A+ (Stable) ISSUER NOT COOPERATING; Rating continues to remain under
‘Issuer Not Cooperating’ category
Sterling & Wilson Pvt Ltd               Non-fund based-LT/ST  ICRA BBB-    1710    -
                                                              (Stable)/
                                                              ICRA A3
Downgraded from ICRA A+ (Stable)/ ICRA A1+ ISSUER NOT COOPERATING; Rating continues to remain
under ‘Issuer Not Cooperating’ category
Synthetic Packers Pvt Ltd               LT - FB - CC          ICRA BBB-    135     -
                                                              (Positive)
Reason for delay in carrying out periodic review: - Review process is underway
Synthetic Packers Pvt Ltd               LT - FB – TL          ICRA BBB-    90.8    -
                                                              (Positive)
Reason for delay in carrying out periodic review: - Review process is underway
Telawne Power Equipments Pvt            LT, FBL               ICRA B+      67      -
Ltd                                                           (Stable)
Rating continues to remain under Issuer Not Cooperating category
Telawne Power Equipments Pvt            ST, Non FBL           ICRA B+      60      -
Ltd                                                           (Stable)
Rating continues to remain under Issuer Not Cooperating category
Universal Mine Developers And           TL                    ICRA BBB(CE) 1560    revised from
Service Providers Pvt. Ltd                                                         ICRA A-(CE)&
Universal Mine Developers And           CC                    ICRA BBB(CE) 60      revised from
Service Providers Pvt. Ltd                                                         ICRA A-(CE)&
Vishwakarma Refractories Pvt            LT - Fund based-      ICRA BBB-    185     Reaffirmed
Ltd                                     Working Capital Fac
Vistaar Financial Services Pvt          PTC Series A2         Pro ICRA     13      Assigned
Ltd                                                           A-(SO)
Vistaar Financial Services Pvt          PTC Series A1         Pro ICRA     291.4   Assigned
Ltd                                                           AA(SO)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below