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ICRA ratings for Indian debt instruments-Dec 5
December 5, 2017 / 11:11 AM / 7 days ago

ICRA ratings for Indian debt instruments-Dec 5

    Dec 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 4, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Amv Tel Pvt Ltd                         ST, Unallocated LimitsICRA A4      130     Assigned
Cargill India Pvt Ltd                   Fund Based/Non-FB Fac ICRA A1+             Reaffirmed
Cargill India Pvt Ltd                   CP /STD               ICRA A1+     3000    Reaffirmed
Dhfl Vysya Housing Finance Ltd          CP                    ICRA A1+     8000    Assigned/
                                                                                   Outstanding
Fitwel Tools & Forgings Pvt             Non FB Fac            ICRA A2+     27.5    Reaffirmed
Ltd
Flash Distribution Pvt Ltd              Non-Fund based        ICRA A4      209.6   Outstanding
Haldia Petrochemical Ltd                ST Limits- NonFBL     ICRA A1+     29830.7 Reaffirmed
Haldia Petrochemical Ltd                ST – CP programme     ICRA A1+     1000    Reaffirmed
Ht Media Ltd                            CP                    ICRA A1+     1200    Assigned/
                                                                                   Outstanding
(enhanced from 1,000.0 crore)
Jasmine Industrial Corporation          Non-Fund based LOC(LC)ICRA A4      300
Issuer Not Cooperating
Jindal Pipes Ltd                        CP                    ICRA A1+     500     Reaffirmed
Jm Financial & Investment               CP programme (IPO     ICRA A1+     8000    Withdrawn
Consultancy Services Pvt Ltd            Financing)**
**Rating was assigned in November 2017
Jm Financial & Investment               CP                    ICRA A1+     2000    Outstanding
Consultancy Services Pvt Ltd
Jm Financial Capital Ltd                CP programme (IPO     ICRA A1+     10000   Withdrawn
                                        Financing)**
**Rating was assigned in November 2017
Jm Financial Capital Ltd                CP                    ICRA A1+     10000   Outstanding
Jm Financial Products Ltd               CP programme (IPO     ICRA A1+     40000   Withdrawn
                                        Financing)**
**Rating was assigned in November 2017
Jm Financial Products Ltd               CP                    ICRA A1+     45000   Outstanding
Jm Financial Properties And             CP programme (IPO     ICRA A1+     10000   Withdrawn
Holdings Ltd                            Financing)**
**Rating was assigned in November 2017
Munjal Kiriu Industries Pvt             ST Interchangeable    ICRA A1              Reaffirmed
Ltd                                     Limits**
**Sub-limit of cash-credit facility
Munjal Kiriu Industries Pvt             CP/STD                ICRA A1      300     Reaffirmed
Ltd
Nishi Forex & Leisure Pvt Ltd           ST – Non Fund Based   ICRA A4      26.5
Review Process is underway
Omni Auto Ltd                           Non FBL               ICRA A4+     74.5    Withdrawn
Issuer Not Cooperating
Palm Fibre (India) Pvt Ltd              ST – FB               ICRA A3      190     Withdrawn
Palm Fibre (India) Pvt Ltd              ST – Interchangeable  ICRA A3              Withdrawn
Palm Fibre (India) Pvt Ltd              ST - Unallocated      ICRA A3      20      Withdrawn
Parakh Agro Industries Ltd              ST – Non Fund Based   ICRA A2+     620     Reaffirmed
                                        –LC/ BC/ BG
(Enhanced from Rs. 32 crore)
Parakh Foods And Oils Ltd               ST – Non Fund Based   ICRA A2+     1020    Reaffirmed
                                        –LC/ BC/ BG
(Enhanced from Rs. 92.00 crore)
Same Deutz-Fahr India Pvt Ltd           ST – Fund based       ICRA A1+             Reaffirmed
                                        (sublimit)
Same Deutz-Fahr India Pvt Ltd           ST – Non Fund based   ICRA A1+             Reaffirmed
                                        (sublimit)
Sks Fasteners Ltd                       ST: Non-fund based –  ICRA A3      145     Assigned
                                        LOC
Sks Fasteners Ltd                       ST: Non-fund based    ICRA A3      7.5     Assigned
Systematix Shares & Stocks              ST non-fund based Bk  ICRA A3      785     Reaffirmed
(India) Ltd                             lines
Tmf Holdings Ltd (Erstwhile             CP                    ICRA A1+     25000   Assigned/
Tata Motors Finance Ltd)                                                           outstanding
(enhanced from 2,000 CR)

MEDIUM TERM RATINGS:
-------------------
Jindal Pipes Ltd                        Fixed Deposit         MA+          500     Reaffirmed


LONG TERM RATINGS:
-------------------
Accord Life Spec Pvt Ltd                Fund based-TL         ICRA D;      500     downgraded
                                                                                   from ICRA BB-
Amv Tel Pvt Ltd                         LT / ST – Unallocated ICRA B /     20      Assigned
                                                              ICRA A4
Amv Tel Pvt Ltd                         LT, Fund unallocated  ICRA B+      20      Assigned
Aptus Value Housing Finance             NCD                   ICRA A       2000    Assigned
India Ltd
Aptus Value Housing Finance             LT Bk Fac             ICRA A       5000    Outstanding
India Ltd
Bhilwara Green Energy Ltd               NCD                   ICRA BBB     1774.4  Reaffirmed
rating removed from rating watch with developing implications
Cargill India Pvt Ltd                   Fund Based/Non-FB Fac*ICRA AA+             Reaffirmed
                                                              (SO) /A1+
*(part of the regional umbrella facilities for Asia Pacific subsidiaries of Cargill
Incorporated); interchangeable with Cargill Global Trading India Private Limited
Dhfl Vysya Housing Finance Ltd          Fund based-TL         ICRA A+              Withdrawn
Fitwel Tools & Forgings Pvt             FB Fac                ICRA A-      182.5   Reaffirmed
Ltd
Fitwel Tools & Forgings Pvt             TL                    ICRA A-      5       Reaffirmed
Ltd
Flash Distribution Pvt Ltd              CC - Sublimit         ICRA BB              Outstanding
Flash Distribution Pvt Ltd              Fund based            ICRA BB      80      Assigned
Flash Distribution Pvt Ltd              Unallocated           ICRA BB      290.4   Assigned/
                                                                                   Outstanding
(enhanced from 0.04 CR)
Government Of Telangana                 LT Debt               Provisional  42500   Assigned
Entities                                                      ICRA A(SO)
Haldia Petrochemical Ltd                LT Limits- TL         ICRA A+      40999.9 Reaffirmed
Haldia Petrochemical Ltd                LT Limits-Fundbased   ICRA A+      3230    Reaffirmed
Haldia Petrochemical Ltd                Issuer Rating1        ICRA A+              Reaffirmed
Haldia Petrochemical Ltd                LT/ST Unallocated     ICRA A+ /    26519.4 Reaffirmed
                                                              ICRA A1+
Hindustan Petroleum                     Issuer Rating         ICRA AAA             Assigned
Corporation Ltd
Jasmine Industrial Corporation          Fund based-CC         ICRA B
Issuer Not Cooperating
Jindal Pipes Ltd                        Issuer Rating         ICRA A+              Reaffirmed
Jm Financial Capital Ltd                NCD                   ICRA AA      2000    Outstanding
Jm Financial Capital Ltd                LT market linked      PP-MLD ICRA  2000    Outstanding
                                        debenture programme   AA
Jm Financial Products Ltd               LT Bk lines           ICRA AA      15000   Outstanding
Jm Financial Products Ltd               NCD                   ICRA AA      25000   Outstanding
Jm Financial Products Ltd               LT market linked      PP-MLD ICRA  5000    Outstanding
                                        debentures (Principal AA
                                        Protected)
Jm Financial Properties And             TL                    ICRA AA      1350    Outstanding
Holdings Ltd
Jop Hotels Ltd                          TL                    ICRA BBB-    350     Rating
                                                                                   upgraded
                                                                                   from ICRA BB+
Kwality Township Pvt. Ltd.              LT-FBL                ICRA D       50
Issuer Not Cooperating
Lendingkart Finance Ltd                 PTC Series A1         ICRA BBB-    177.6   Provisional
-Brooks Sbl Ifmr Capital 2017
Lnj Power Ventures Ltd                  TL                    ICRA BBB+    842.4   Reaffirmed
Magneti Marelli Motherson               TL                    ICRA A-      150     Upgraded
Shock Absorbers India Pvt Ltd                                                      from ICRA BBB
Magneti Marelli Motherson               FB/ Non-FB Fac        ICRA A- /A2+ 150     Upgraded
Shock Absorbers India Pvt Ltd                                                      from ICRA
                                                                                   BBB / A3+
Munjal Kiriu Industries Pvt             TL                    ICRA A+      677.8   Upgraded
Ltd                                                                                from ICRA A
(revised from 24.24 CR)
Munjal Kiriu Industries Pvt             LT FBL                ICRA A+      300     Upgraded
Ltd                                                                                from ICRA A
Munjal Kiriu Industries Pvt             Unallocated Limits    ICRA A+      2.2     Upgraded
Ltd                                                                                from ICRA A
(revised from 17.76 CR)
Narendra Tea Company Pvt Ltd            LT-FBL                ICRA BB-     140     Reaffirmed
Narendra Tea Company Pvt Ltd            LT- NFBL              ICRA BB-     7       Reaffirmed
Narendra Tea Company Pvt Ltd            TL                    ICRA BB-     72      Reaffirmed
Narendra Tea Company Pvt Ltd            LT- Unallocated       ICRA BB-     38.5    Reaffirmed
Nishi Forex & Leisure Pvt Ltd           LT – TL               ICRA BB      25.5
Review Process is underway
Nishi Forex & Leisure Pvt Ltd           LT – Fund based       ICRA BB      50
Review Process is underway
Nishi Forex & Leisure Pvt Ltd           LT / ST - Unallocated ICRA BB /    81
                                                              ICRA A4
Review Process is underway
Omni Auto Ltd                           FBL                   ICRA BB+     377.4   Withdrawn
Issuer Not Cooperating
Omni Auto Ltd                           Untied Limit          ICRA BB+     51.9    Withdrawn
Issuer Not Cooperating
Parakh Agro Industries Ltd              LT – Fund Based – CC  ICRA A       1320    Upgraded
                                                                                   from ICRA A-
(Enhanced from Rs. 92 crore)
Parakh Agro Industries Ltd              LT – Fund Based – TL  ICRA A       800     Upgraded
                                                                                   from ICRA A-
(Reduced from Rs. 95.75 crore)
Parakh Foods And Oils Ltd               LT – Fund Based – CC  ICRA A       900     Upgraded
                                                                                   from ICRA A-
(Enhanced from Rs. 50.00 crore)
Parakh Foods And Oils Ltd               LT – Fund Based – TL  ICRA A       450     Upgraded
                                                                                   from ICRA A-
(Reduced from Rs. 57.50 crore)
Power Mech Projects Ltd                 LT FB limits          ICRA A-      2300    Outstanding
(revised from 210.0 CR)
Power Mech Projects Ltd                 TL                    ICRA A-      10      Outstanding
Power Mech Projects Ltd                 LT/ST NFBL            ICRA A- /A2+ 8160    Outstanding
(revised from 738.0 CR)
Power Mech Projects Ltd                 LT/ST Proposed Limits ICRA A- /A2+ 630     Outstanding
(revised from 162 CR)
Prashanth Fertility Research            TL                    ICRA BBB     450     Reaffirmed
Centre Pvt Ltd
Prudhvi Constructions Pvt Ltd           Fund based            ICRA B+      60
Issuer Not Cooperating
Prudhvi Constructions Pvt Ltd           Unallocated           ICRA B+      20
Issuer Not Cooperating
Pyrotech Workspace Solutions            Fund based –          ICRA BB      120     Reaffirmed
Pvt Ltd                                 Overdraft
Pyrotech Workspace Solutions            Non-fund based – BG   ICRA BB      195     Reaffirmed
Pvt Ltd
Pyrotech Workspace Solutions            Unallocated           ICRA BB      35      Reaffirmed
Pvt Ltd
Reflexions Narayani Impex Pvt           Bk Fac                ICRA         414.3
Ltd                                                           B+/ICRA A4
Review Process is underway
Renjin Construction                     Bk Fac                ICRA         72.5
                                                              B+/ICRA A4
Issuer not cooperating
Repco Micro Finance Ltd                 LT Bk Fac             ICRA BBB     500     Reaffirmed
Same Deutz-Fahr India Pvt Ltd           LT – FB Fac           ICRA AA-     800     Reaffirmed
Sanghamithra Rural Financial            Bk Fac                ICRA BBB-    1600    Reaffirmed
Services
Satin Creditcare Network Ltd            PTC Series A          ICRA BBB+    2758    Provisional
-Saffron Trust November 2017                                  (SO)
Sks Fasteners Ltd                       LT: FB – TL           ICRA BBB-    128.8   Assigned
Sks Fasteners Ltd                       LT: FB – CC           ICRA BBB-    105     Assigned
Sln Coffee Pvt Ltd                      FB Fac                ICRA BB      270     Assigned
Sln Coffee Pvt Ltd                      Fund based - TL       ICRA BB      175     Assigned
Sln Coffee Pvt Ltd                      Proposed/ unallocated ICRA BB      55      Assigned
                                        limits
Sri Venkateswara Rice                   FBL                   ICRA BB      703     Reaffirmed
Industries Pvt Ltd
Sri Venkateswara Rice                   Unallocated limits    ICRA BB      47      Reaffirmed
Industries Pvt Ltd
Sudhir Power Ltd                        Working Capital       ICRA AA-     250     Reaffirmed
                                        Limits
Sudhir Power Ltd                        Non-FBL – LC/BG #     ICRA AA-     4790    Reaffirmed
                                                              /A1+
# sub limit of Rs. 55.0 crore for fund-based working capital facilities
Sudhir Power Projects Ltd               Non-FBL – LC/BG #     ICRA AA-     1810    Reaffirmed
                                                              (SO) / A1+
                                                              (SO)
# sub limit of Rs.48.0 crore (earlier Rs. 28.0 crore) for fund-based working capital facilities
Sudhir Sales And Services Ltd           Non-FBL – LC/BG #     ICRA AA-     100
                                                              (SO) / A1+
                                                              (SO)
# sub limit of Rs.2.0 crore for fund-based working capital facilities
Sudhir Sales And Services Ltd           Unallocated           ICRA AA-     100
                                                              (SO) / A1+
                                                              (SO)
Sudhir Transformers Ltd                 Non-FBL – LC/BG #     ICRA AA-     440
                                                              (SO) / A1+
                                                              (SO)
# sub limit of Rs.40 crore for fund-based working capital facilities
Systematix Shares & Stocks              LT fund based Bk      ICRA BBB-    215     Reaffirmed
(India) Ltd                             lines
Telangana Drinking Water                LT Bond               ICRA A (SO)  7500    Provisional
Supply Corporation Ltd
Tmf Holdings Ltd (Erstwhile             NCD                   ICRA AA      12500   Outstanding
Tata Motors Finance Ltd)
Tmf Holdings Ltd (Erstwhile             LT Bk Lines Programme ICRA AA      1000    Outstanding
Tata Motors Finance 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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