December 28, 2017 / 10:52 AM / 22 days ago

ICRA ratings for Indian debt instruments-Dec 28

   Dec 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 27, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     4000    Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     3600    Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     100     Outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     5000    Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     3000    Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     400     Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     800     Withdrawn
                                        financing)
Ecl Finance Ltd                         ST Principal          PP-MLD       900     Outstanding
                                        Protected Market 900  ICRA A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO 0   ICRA A1+     4000    Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme 7,000.00 ICRA A1+     7000    Outstanding
Ltd
Edelweiss Commodities Services          ST NCD 100 Programme  ICRA A1+     100     Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     5000    Withdrawn
Ltd                                     5000 financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     3000    Withdrawn
Ltd                                     3000 financing)
Edelweiss Commodities Services          CP Programme (IPO 400 ICRA A1+     400     Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO 800 ICRA A1+     800     Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLD       500     Outstanding
Ltd                                     Protected Market 500  ICRA A1+
                                        Linked Debenture Programme
Edelweiss Financial Services            CP Programme (IPO 0   ICRA A1+     4000    Assigned
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Edelweiss Financial Services            ST NCD 100 Programme  ICRA A1+     100     Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
Edelweiss Financial Services            CP Programme 6,350.00 ICRA A1+     6350    Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     5000    Withdrawn
Ltd (Erstwhile Edelweiss                5000 financing)
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     3000    Withdrawn
Ltd (Erstwhile Edelweiss                3000 financing)
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO 400 ICRA A1+     400     Withdrawn
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO 800 ICRA A1+     800     Withdrawn
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Klenzaids Contamination                 NFBL                  ICRA A4      10      Withdrawn,
Controls Pvt Ltd                                                                   ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Nandan Terry Pvt Ltd                    Non FBL*              ICRA A4+     10
Issuer not cooperating
Nxtgen Datacenter And Cloud             ST – Non fund Based   ICRA A3      6       Withdrawn
Technologies Pvt Ltd
Redington India Ltd                     ST – FB Fac           ICRA A1+     972.5   Reaffirmed
Redington India Ltd                     ST –Non-Fund based    ICRA A1+     160     Reaffirmed
Redington India Ltd                     CP                    ICRA A1+     1500    Assigned/
Outstanding Amount (Rs. crore)
Religare Commodities Ltd                ST Debt Programme     ICRA A1&     25      Placed on
                                                                                   watch with
                                                                                   developing 
                                                                                   implications
Religare Comtrade Ltd                   ST Debt Programme     ICRA A1&     400     Placed on
                                                                                   watch with
                                                                                   developing 
                                                                                   implications
Religare Securities Ltd                 ST Bk Lines           ICRA A1&     600     Placed on
                                                                                   watch with
                                                                                   developing 
                                                                                   implications
Religare Securities Ltd                 CP programme          ICRA A1&     1200    Placed on
                                                                                   watch with
                                                                                   developing 
                                                                                   implications
Shiva Amp; Shiva Orthopaedic            ST – Non Fund Based   ICRA A3      1       Reaffirmed
Hospital Pvt Ltd                        Name of the rated
                                        entity

LONG TERM RATINGS:
-------------------
Arvind Exports Solvent Oil              FB Limit – CC         ICRA B+      12      Reaffirmed
Industries
Children’S Education Society            Fund based - TL       ICRA BB+     160     Assigned
Children’S Education Society            Fund based - Working  ICRA BB+             Assigned
                                        Capital Fac Trust
                                        Name PTC Series A
Clean Max Photovoltaic Pvt Ltd          Fund based - TL       ICRA BBB-    156     Assigned
Clean Max Photovoltaic Pvt Ltd          Unallocated Limit     ICRA BBB-    4       Assigned
Ecl Finance Ltd                         NCD Programme         ICRA AA      7350    Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      1150    Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA      11000   Outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLD       300     Outstanding
                                        Protected Market      ICRA AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLD       2350    Outstanding
                                        Protected Market      ICRA AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          Bk Lines              ICRA AA      2000    Outstanding
Ltd
Edelweiss Commodities Services          NCD      Programme    ICRA]AA      4700    Outstanding
Ltd
Edelweiss Financial Services            NCD     Programme     ICRA AA      500     Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
India Infoline Finance Ltd              PTC Series A          ICRA                 Assigned
-Robust Cv Trust Dec 2017                                     AAA(SO)
Jawahar Shetkari Sahakari               Bk Loan Rating        ICRA BBB-    544.5
Sakhar Karkhana Ltd                     Sahakari Sakhar
                                        Karkhana Ltd
Issuer delayed in giving information
Klenzaids Contamination                 FBL                   ICRA BB-     12      Withdrawn,
Controls Pvt Ltd                                                                   ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Klenzaids Contamination                 Unallocated Limits    ICRA         1       Withdrawn,
Controls Pvt Ltd                                              BB-/ICRA A4          ISSUER NOT
                                                              ISSUER NOT COOPERATINCOOPERATING*
*Issuer did not co-operate; based on best available information
Nandan Terry Pvt Ltd                    TL                    ICRA BB+     353
Issuer not cooperating
Needs Manpower Support                  FBL                   ICRA BBB-    6.25    Withdrawn
Services Pvt Ltd
Nxtgen Datacenter And Cloud             LT - Fund Based-CC    ICRA BBB-    5       Withdrawn
Technologies Pvt Ltd
Nxtgen Datacenter And Cloud             LT - Fund Based- TL   ICRA BBB-    49      Withdrawn
Technologies Pvt Ltd
Perfect Engineering Associates          BLR                   ICRA B-/A4
Pvt Ltd
Issuer delayed in giving information
Redington India Ltd                     Fund based-TL         ICRA AA      610     Upgraded
                                                                                   from ICRA AA-
Redington India Ltd                     LT/ST- Unallocated FacICRA AA      7.5     Upgraded
                                                                                   from ICRA AA-
ICRA A1+
Religare Securities Ltd                 LT Debt Programme     ICRA A&      100     Continues to
                                                                                   be on watch
                                                                                   with
developing
                                                                                   implications
RGS Healthcare Pvt Ltd                  LT- Fund based        ICRA BB+     8.3     Withdrawn,
                                                                                   ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Rgs Healthcare Pvt Ltd                  LT/ST – Fund Based    ICRA BB+     1.7     Withdrawn,
                                                              /A4+                 ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Sayaji Hotels Ltd                       LT - TL               ICRA BBB-@   57.59   Under rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Sayaji Hotels Ltd                       LT- CC Fac            ICRA BBB-@   6.75    Under rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Sayaji Hotels Ltd                       LT - Non-FB Fac       ICRA BBB-@   2.7     Under rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Sayaji Hotels Ltd                       Unallocated           ICRA BBB-@   26.84   Under rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Shiva Amp; Shiva Orthopaedic            LT – Fund Based       ICRA BBB-    10      Reaffirmed
Hospital Pvt Ltd                        (Overdraft)
Shiva Amp; Shiva Orthopaedic            LT – TL               ICRA BBB-    57.45   Reaffirmed
Hospital Pvt Ltd
Simran Farms Ltd                        FB Limits             ICRA BB      10      Assigned
Tangling Mini Hydel Power               LT FB Limits          ICRA BB-     19.4    Upgraded
Project                                                                            from ICRA B
Tangling Mini Hydel Power               LT Unallocated        ICRA BB-     0.6     Upgraded
Project                                                                            from ICRA B
The Montfort Educational                Fund based-           ICRA B       1       ISSUER NOT
Society                                 optionally                                 COOPERATING*
                                        convertible debenture
 *Issuer did not co-operate; based on best available information.
Rating moved to the ‘Issuer Not Cooperating’ category
The Montfort Educational                Fund based- TL        ICRA B       3.3     ISSUER NOT
Society                                                                            COOPERATING*
Rating moved to the ‘Issuer Not Cooperating’ category
 *Issuer did not co-operate; based on best available information.
The Montfort Educational                Fund based- TL        ICRA B       2.27    ISSUER NOT
Society                                                                            COOPERATING*
Rating moved to the ‘Issuer Not Cooperating’ category
 *Issuer did not co-operate; based on best available information.
The Montfort Educational                Fund based- TL        ICRA B       2.5     ISSUER NOT
Society                                                                            COOPERATING*
Rating moved to the ‘Issuer Not Cooperating’ category
 *Issuer did not co-operate; based on best available information.
The Montfort Educational                Unallocated amount    ICRA B       0.93    ISSUER NOT
Society                                                                            COOPERATING*
Rating moved to the ‘Issuer Not Cooperating’ category
 *Issuer did not co-operate; based on best available information.
Venkata Naga Lakshmi Paper              BLR                   ICRA B+/     25
Mills Pvt Ltd                                                 ICRA A4
Review process is underway
Vijaynagar Biotech Pvt Ltd              BLR                   ICRA BBB+    48.5
                                                              /ICRA A2
Issuer delayed in giving information
--------------------------------------------------------------------------------------------
$: 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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