February 11, 2019 / 11:26 AM / 5 days ago

ICRA ratings for Indian debt instruments-Feb 11

    Feb 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 8, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Chw Forge Pvt Ltd                       CP 1                  ICRA A1      400     Assigned
1  The rating of the aforementioned instrument is based on the condition that total short-term
borrowings (including commercial paper, short-term debt and bank borrowings) of the company at
any given point of time should not exceed the company’s drawing power or the bank sanctioned
fund-based limits (whichever is lower).
Ess Gee Trendz Pvt Ltd                  ST - Non Fund Based   ICRA A4      20      Withdrawn
Fusion Jewellery Manufacturing          ST FB limits          ICRA A4      7.5
Co. Pvt. Ltd.
(Issuer Not Cooperating)
Fusion Jewellery Manufacturing          ST interchangeable    ICRA A4      -       -
Co. Pvt. Ltd.                           limit
(Issuer Not Cooperating)
Gayatrishakti Paper And Boards          Fund based- PC/ FBP   ICRA A2      30      -
Ltd                                                                                
(Issuer Not Cooperating)
Gayatrishakti Paper And Boards          Non-fund based –      ICRA A2      600     -
Ltd                                     LOC/BG                                     
(Issuer Not Cooperating)
Gumpro Drilling Fluids Pvt Ltd          Fund based-           ICRA A2      140     Upgraded
                                        EPC/PCFC/SLOC                              from ICRA A3+
Gumpro Drilling Fluids Pvt Ltd          Non-fund based-       ICRA A2      95      Upgraded
                                        LC/BG/Forward                              from ICRA A3+
                                        Contracts
Majesco Software And Solutions          ST, FB Limits         ICRA A2+     130     Withdrawn
India Pvt Ltd
Organic India Pvt Ltd                   Non-fund Based - BG   ICRA A1+     50      Assigned
Oriental Hotels Ltd                     ST non-fund based –   ICRA A1      -       Reaffirmed
                                        sub limit
Rbl Bank Ltd                            ST Fixed Deposit -    ICRA A1+     -       Reaffirmed
                                        Programme
Rbl Bank Ltd                            CDs Programme         ICRA A1+     60000   Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Rbl Bank Ltd                            Medium-term Fixed     MAA          -       Reaffirmed
                                        Deposit - Programme
LONG TERM RATINGS:
-------------------
Ess Gee Trendz Pvt Ltd                  LT - Fund Based/ CC   ICRA BB      165     Withdrawn
Ess Gee Trendz Pvt Ltd                  LT - Fund Based TL    ICRA BB      45      Withdrawn
Gayatrishakti Paper And Boards          Fund based-TL         ICRA BBB+    1838.1  -
Ltd                                                                                
(Issuer Not Cooperating)
Gayatrishakti Paper And Boards          Fund based-CC         ICRA BBB+    820     -
Ltd                                                                                
(Issuer Not Cooperating)
Gumpro Drilling Fluids Pvt Ltd          Fund based- TL        ICRA BBB+    99.7    Upgraded
                                                                                   from ICRA BBB
Gumpro Drilling Fluids Pvt Ltd          Fund based- Working   ICRA BBB+    60      Upgraded
                                        Capital Fac                                from ICRA BBB
Majesco Software And Solutions          LT/ST, Fundbased      ICRA A-      200     Withdrawn
India Pvt Ltd                           Limits
Majesco Software And Solutions          LT/ST, Unallocated    ICRA A-      185     Withdrawn
India Pvt Ltd                           Limits                /ICRA A2+
New World Landmark Llp                  FB-TL                 ICRA BBB-    1500    Revised from
                                                                                   ICRA BB+
Removed from Issuer Not Cooperating category
Northern Arc Capital                    PTC Series A1         Provisional  1829    Assigned
Ltd-Northern Arc 2018 Mosec                                   ICRA A-(SO)
Yantra
Orbit Projects Pvt Ltd                  TL                    ICRA         450     Withdrawn
                                                              BBB+(SO)
Organic India Pvt Ltd                   Fund Based - TL       ICRA A+      700     Assigned
Organic India Pvt Ltd                   Fund Based - Working  ICRA A+      250     Assigned
                                        Capital Fac
Oriental Hotels Ltd                     NCD                   ICRA A+     2000    Reaffirmed
Oriental Hotels Ltd                     LT fund based         ICRA A+     300     Reaffirmed
Price Waterhouse & Co.                  LT FB Fac             ICRA AA      150     Withdrawn
Bangalore Llp
Ravindra Energy Ltd                     FB - TL               ICRA B+      27      Withdrawn
Ravindra Energy Ltd                     Unallocated Limits    ICRA B+      566     Withdrawn
Rbl Bank Ltd                            Basel III Compliant   ICRA AA-     8000    Reaffirmed
                                        Tier II Bond          (hyb)
                                        Programme
Salarpuria Simplex Dwellings            LT FB Limit           ICRA A-      150     Withdrawn
Llp
Sonata Finance Pvt Ltd-Vivriti          PTC Series A1         Provisional  293.5   Assigned
Robben 01 2019                                                ICRA A(SO)
Sonata Finance Pvt Ltd-Vivriti          PTC Series A2         Provisional  9.9     Assigned
Robben 01 2019                                                ICRA
                                                              BBB+(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@thomsonreuters.com)
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