December 29, 2017 / 10:29 AM / 21 days ago

ICRA ratings for Indian debt instruments-Dec 29

    Dec 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 28, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Barbeque Nation Hospitality Ltd         CP                    ICRA A1+     300     Assigned
                                                                                   /outstanding
(enhanced from Rs.15.00 crore)
Essel Mining & Industries Ltd           CP                    ICRA A1+ @   15000   
Essel Mining & Industries Ltd           Fund Based Bk Limits  ICRA A1+ @   1500    
Essel Mining & Industries Ltd           Non Fund Based Bk     ICRA A1+ @   700     
                                        Limits                                     
Lumax Industries Ltd                    ST FB                 ICRA A1+     200     -
Lumax Industries Ltd                    ST Non-Fund based     ICRA A1+     1100    -
Lumax Industries Ltd                    CP                    ICRA A1+     500     -
Mahathi Software Pvt Ltd                ST FB                 ICRA A4      70      Assigned
Rai Bahadur Seth Shreeram               ST non-FBL            ICRA A4+     5       Reaffirmed
Narsingdas Pvt Ltd (Erstwhile
R B Seth Shreeram Narsingdas)
Relaxo Footwears Ltd                    Non-funds-based       ICRA A1+     1200    Reaffirmed
Relaxo Footwears Ltd                    CP                    ICRA A1+     500     Reaffirmed
Reliance Home Finance Ltd               ST Debt Programme     ICRA A1+     30000   -
Satnam Psyllium Industries              FB – Export Packing   ICRA A4      100     Reaffirmed
                                        Credit
Sri Rama Spin Cot                       Non fund based – BG   ICRA A4      0.3     ISSUER NOT
                                                                                   COOPERATING
Super Psyllium                          FB – Export Packing   ICRA A4      80      Reaffirmed
                                        Credit
Suprajit Engineering Ltd                ST – Non FB Fac       ICRA A1+     15      outstanding
Susee Motors (India) Pvt Ltd            ST – NonFBL           ICRA A4      30      ISSUER NOT
                                                                                   COOPERATING
LONG TERM RATINGS:
-------------------
Alstom Systems India Pvt Ltd            Fund Based Working    ICRA A+(SO)  760     Assigned
                                        Capital Limits
Alstom Systems India Pvt Ltd            Non-FBL-LC/BG         ICRA A+(SO)  3000    Assigned
                                                              /ICRA A1+(SO)                     
                                        
Alstom Transport India Ltd              Non-FBL – LC/BG       ICRA A+(SO)  8900    Reaffirmed
(earlier 760.0crs)
Alstom Transport India Ltd              Non-fund based/ Fund  ICRA A+(SO)  8200    Reaffirmed
                                        based- Working        /ICRA A1+(SO)
                                        Capital Fac           
(earlier 490.0crs)
Barbeque Nation Hospitality Ltd         TL                    ICRA A+      925     outstanding
Barbeque Nation Hospitality Ltd         Proposed TL           ICRA A+      75      outstanding
Delhi Aviation Fuel Facility            FB TL                 ICRA AA-     2200    Reaffirmed
Pvt Ltd
Emmvee Solar Systems Pvt Ltd            FBL                   ICRA BBB-    120     Withdrawn
Emmvee Solar Systems Pvt Ltd            Non-FBL               ICRA BBB-    62.6    Withdrawn
                                                              / ICRA A3
Gorakhpur Infrastructure Co.            LT Debt               Provisional  4250    -
Ltd                                                           ICRA AAA(SO)                      
                                       
Gujarat Peanut Products Pvt Ltd         Fund based – CC       ICRA B+      45      Issuer Not
                                                                                   Cooperating
Gujarat Peanut Products Pvt Ltd         Fund based – TL       ICRA B+      18.9    Issuer Not
                                                                                   Cooperating
Lumax Industries Ltd                    LT FB                 ICRA A+      605     -
Lumax Industries Ltd                    TL                    ICRA A+      75.8    -
Lumax Industries Ltd                    Unallocated           ICRA A+      619.2   -
Mahathi Software Pvt Ltd                TL                    ICRA B-      315     Assigned
Mahathi Software Pvt Ltd                Unallocated           ICRA B-      49.7    Assigned
Meghnad Saha Institute Of               Overdraft limit       ICRA BB      100     Reaffirmed
Technology
Removed from the ISSUER NOT COOPERATING category
Rai Bahadur Seth Shreeram               LT FBL– CC            ICRA BB+     400     Reaffirmed
Narsingdas Pvt Ltd (Erstwhile
R B Seth Shreeram Narsingdas)
(increased from 37.00crs)
Rai Bahadur Seth Shreeram               LT fund based – TL    ICRA BB+     194.3   Reaffirmed
Narsingdas Pvt Ltd (Erstwhile
R B Seth Shreeram Narsingdas)
(reduced from 26.24crs)
Rai Bahadur Seth Shreeram               LT/ST – Unallocated   ICRA BB+     460.7   Reaffirmed
Narsingdas Pvt Ltd (Erstwhile                                 /ICRA A4+
R B Seth Shreeram Narsingdas)
(increased from 42.26crs)
Rajlakshmi Minerals                     LT fund based – TL    ICRA BB      81.6    Reaffirmed
(increased from 7.25crs)
Rajlakshmi Minerals                     LT – Unallocated      ICRA BB      98.4    Reaffirmed
(reduced from 10.75crs)
Relaxo Footwears Ltd                    TL                    ICRA AA-     1016.7  Upgraded
                                                                                   from ICRA A+
Relaxo Footwears Ltd                    CC                    ICRA AA-     1000    Upgraded
                                                                                   from ICRA A+
Sapphire Lifesciences Pvt Ltd           Fund based-TL         ICRA D       125     Downgraded
                                                                                   from ICRA BB
Sapphire Lifesciences Pvt Ltd           Fund based-CC         ICRA D       142.1   Downgraded
                                                                                   from ICRA BB
Sapphire Lifesciences Pvt Ltd           Unallocated Limited   ICRA D       17.5    Downgraded
                                                                                   from ICRA BB
Satnam Psyllium Industries              FB – CC               ICRA BB-     30      Reaffirmed
Satnam Psyllium Industries              FB – Stand by Limit   ICRA BB-     20      Reaffirmed
Shirpur-Warvade Municipal               BLR                   ICRA BB+     76.8    -
Council
Sri Rama Spin Cot                       Fund based – CC       ICRA B       89      ISSUER NOT
                                                                                   COOPERATING
Sri Rama Spin Cot                       Fund based – TL       ICRA B       13.7    ISSUER NOT
                                                                                   COOPERATING
Sri Rama Spin Cot                       Unallocated limits    ICRA B       0.4     ISSUER NOT
                                                                                   COOPERATING
Srl Diagnostics Pvt Ltd                 FB Fac                ICRA A-#     150     Reaffirmed
Srl Diagnostics Pvt Ltd                 Non-FB Fac            ICRA A-      20      Reaffirmed
                                                              /A2+#
Srl Ltd                                 FB Fac                ICRA A+      240     Reaffirmed
Srl Ltd                                 Non-FB Fac            ICRA A+ /A1+ 45      Reaffirmed
Super Psyllium                          FB – CC               ICRA BB-     30      Reaffirmed
Super Psyllium                          FB – Stand by Limit   ICRA BB-     16      Reaffirmed
Suprajit Engineering Ltd                LT - TL               ICRA AA      637.2   outstanding
Suprajit Engineering Ltd                LT - FB Fac           ICRA AA      2020    Assigned/
                                                                                   outstanding
Susee Motors (India) Pvt Ltd            LT – Fundbased limits ICRA B       30      ISSUER NOT
                                                                                   COOPERATING
Synnova Gears & Transmissions           Fund based- CC        ICRA BB      160     Withdrawn
Pvt Ltd
Synnova Gears & Transmissions           Fund based- TL        ICRA BB      97.1    Withdrawn
Pvt Ltd
--------------------------------------------------------------------------------------------
$: 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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