February 13, 2018 / 10:26 AM / 2 months ago

ICRA ratings for Indian debt instruments-Feb 13

    Feb 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 12, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Agarwalla Timbers Pvt Ltd               Non-Fund based- LG    ICRA A4      62.5    Reaffirmed
                                        Limit
Agarwalla Timbers Pvt Ltd               Non-fund based- LC &  ICRA A4      710     Reaffirmed
                                        Buyer’s Credit Limit
Aktinos Healthcare Pvt Ltd              Non-fund based – LOC  ICRA A4      10      Withdrawn
Aktinos Pharma Pvt Ltd                  Non-fund based – LOC  ICRA A4+     15      Withdrawn
Ambika Petrochem Pvt Ltd                ST, Non-fund based    ICRA A4+ (S) 280     Reaffirmed
Ambika Petrochem Pvt Ltd                Unallocated Fac       ICRA A4+ (S) 14      Reaffirmed
Anu Cashews                             Fund based facility   ICRA A4+     150     Reaffirmed
Aravali Power Company Pvt Ltd           Non-fund based-Bk Fac ICRA A1      1250    Reaffirmed
Ashapura International Ltd              ST Non-Fund Based     ICRA A4+     20      Reaffirmed
Ashapura International Ltd              ST Fund Based         ICRA A4+     60      Reaffirmed
Bagga Link Service Ltd                  Fund Based –          ICRA A4      60      Reaffirmed
                                        Inventory Funding
                                        Working Capital Facility
Banas Stones Pvt Ltd                    ST FB                 ICRA A4      6.5     Reaffirmed
Canara Bank                             CDs Programme         ICRA A1+     500000  -
Cil Nova Petrochemicals Ltd             NFBL                  ICRA A2+(SO) 156.5   ISSUER NOT
                                                                                   COOPERATING
Dharmdeep Commodities Pvt Ltd           VaR Limit             ICRA A4      100     Review
                                                                                   process is
                                                                                   underway
Escorts Heart Institute And             Non-FB Limits         ICRA A2+@    50      Downgraded
Research Centre Ltd                                                                from ICRA A1+
Fortis Hospitals Ltd                    Non-FB Limits         ICRA A2+(SO)@972     Downgraded
                                                                                   from ICRA
                                                                                   A1+(SO)
Hiranandani Healthcare Pvt Ltd          Non-FB Limits         ICRA A2+(SO)@-       Downgraded
                                                                                   from ICRA
                                                                                   A1+(SO)
Iifl Holdings Ltd                       CP programme          ICRA A1+     5000
Iifl Holdings Ltd                       ST debt programme     ICRA A1+     10000
Karur Vysya Bank                        CD Programme          ICRA A1+     30000
Madhucon Granites Ltd                   ST - Fund Based       ICRA A4      425.7   Revised from
                                                                                   ICRA A4+
Madhucon Granites Ltd                   ST - Non-Fund Based   ICRA A4      91      Revised from
                                                                                   ICRA A4+
Sepal Ceramic                           Non-fund Based – BG   ICRA A4      20      Reaffirmed
Sundaram Bnp Paribas Home               CP                    ICRA A1+     10000   outstanding
Finance Ltd
Sura Leathers Pvt Ltd                   ST - Fund based –     ICRA D       15      Assigned
                                        Standby Line of Credit
Sura Leathers Pvt Ltd                   ST – Non Fund based – ICRA D       85      Assigned
                                        LOC
Sura Leathers Pvt Ltd                   ST – Fund based –     ICRA D       15      Assigned
                                        Foreign Documentary
                                        Bill Purchase
Supreme Overseas Exports India          ST - Fund based –     ICRA A4      30      Assigned
Pvt Ltd                                 Standby Line of Credit
Supreme Overseas Exports India          ST - Fund based –     ICRA A4      50      Assigned
Pvt Ltd                                 Foreign Documentary
                                        Bill Purchase
Supreme Overseas Exports India          ST – Non Fund based – ICRA A4      250     Assigned
Pvt Ltd                                 LOC
Xander Finance Pvt Ltd                  CP                    ICRA A1+     3000    Outstanding

MEDIUM TERM RATINGS:
-------------------
Bright Brothers Ltd                     Medium-term: Fixed    MB+          18.6    ISSUER NOT
                                        Deposit Programme                          COOPERATING
Sundaram Bnp Paribas Home               Fixed Deposits        MAA+         -       outstanding
Finance Ltd
 
LONG TERM RATINGS:
-------------------
Agarwalla Timbers Pvt Ltd               Fund based- CC        ICRA BB      60      Reaffirmed
Aktinos Healthcare Pvt Ltd              Fund based- CC        ICRA BB-     40      Withdrawn
Aktinos Healthcare Pvt Ltd              Fund based – TL       ICRA BB-     70.8    Withdrawn
Aktinos Healthcare Pvt Ltd              Non-fund based – BG   ICRA BB-     5       Withdrawn
Aktinos Healthcare Pvt Ltd              Unallocated Limits    ICRA BB- /   6.7     Withdrawn
                                                              ICRA A4
Aktinos Pharma Pvt Ltd                  Fund based- CC        ICRA BB+     65      Withdrawn
Aktinos Pharma Pvt Ltd                  Non-fund based – BG   ICRA BB+     2       Withdrawn
Aktinos Pharma Pvt Ltd                  Unallocated Limits    ICRA BB+ /   25      Withdrawn
                                                              ICRA A4+
Ambika Petrochem Pvt Ltd                LT, FB                ICRA BB+     20      Reaffirmed
                                                              (S)
Aravali Power Company Pvt Ltd           FB-TL                 ICRA A       70691.3 Reaffirmed
Aravali Power Company Pvt Ltd           FB-Bk Fac             ICRA A       12000   Reaffirmed
Ashapura International Ltd              LT - Fund Based       ICRA BB+     180     Reaffirmed
Ashapura International Ltd              LT - Proposed         ICRA BB+     240     Reaffirmed
Bagga Link Service Ltd                  Fund Based – CC       ICRA BB+     20      Reaffirmed
                                        Working Capital
                                        Facility
Balaji Cellphone Pvt Ltd                Bk Fac                ICRA BB- /   220     ISSUER NOT
                                                              ICRA A4              COOPERATING
Banas Stones Pvt Ltd                    LT Fund based – CC    ICRA BB-     55      Reaffirmed
Banas Stones Pvt Ltd                    LT Fund based – TL    ICRA BB-     12.5    Reaffirmed
Bipin Kumar Agrawal                     Bk Fac                ICRA BB- /   100     ISSUER NOT
                                                              ICRA A4              COOPERATING
Canara Bank                             Additional Tier-I     ICRA AA      15000   -
                                        Bonds – Basel III     (hyb)
Canara Bank                             Lower Tier II Bonds   ICRA AAA     20000   -
Canara Bank                             Tier-II Bonds – Basel ICRA AAA     79000   -
                                        III                   (hyb)
Cil Nova Petrochemicals Ltd             Fund Based - CC       ICRA A- (SO) 130     ISSUER NOT
                                                                                   COOPERATING
Clean Max Ipp1 Pvt Ltd                  Fund based - TL       ICRA BBB-    627.1   Assigned
Clean Max Ipp1 Pvt Ltd                  Unallocated Limit     ICRA BBB-    7.6     Assigned
Dharmdeep Commodities Pvt Ltd           Overdraft             ICRA B+      30      Review
                                                                                   process is
                                                                                   underway
Dharmdeep Commodities Pvt Ltd           EPC & LCBD            ICRA B+/ A4  800     Review
                                                                                   process is
                                                                                   underway
Escorts Heart Institute And             TL                    ICRA A-@     780     Downgraded
Research Centre Ltd                                                                from ICRA A+
Escorts Heart Institute And             FB Limits             ICRA A-@     200     Downgraded
Research Centre Ltd                                                                from ICRA A+
Fortis C Doc Healthcare Ltd             FBL - TL              ICRA A-(SO)@ 103.1   Downgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Fortis Hospitals Ltd                    TL                    ICRA A-(SO)@ 4178    Downgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Fortis Hospitals Ltd                    FB Limits             ICRA A-(SO)@ 2350    Downgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Gav Agro Pvt Ltd                        LT FB – CC            ICRA B       40      ISSUER NOT
                                                                                   COOPERATING
Gav Agro Pvt Ltd                        LT FB – TL            ICRA B       101.5   ISSUER NOT
                                                                                   COOPERATING
Hiranandani Healthcare Pvt Ltd          TL                    ICRA A-(SO)@ -       Downgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Hiranandani Healthcare Pvt Ltd          Overdraft/ Working    ICRA A-(SO)@ -       Downgraded
                                        Capital Demand Loans                       from ICRA
                                                                                   A+(SO)
Iifl Holdings Ltd                       Secured NCD programme ICRA AA      2200
Kailash Motors                          Fund Based – Working  ICRA B       240     outstanding
                                        Capital Fac
Kailash Motors                          Fund Based – TL       ICRA B       10.4    outstanding
Kailash Motors                          Unallocated           ICRA B       61.1    Assigned
                                                                                   /outstanding
Kailash Motors                          Fund Based – Working  ICRA B       138.5   outstanding
                                        Capital Fac           /ICRA A4
Karur Vysya Bank                        Lower Tier II Bonds   ICRA A+      3000
                                        Programme
Madhucon Granites Ltd                   LT - TL               ICRA B-      820.6   Revised from
                                                                                   ICRA BB+
Maheshwari Coal Benefication &          Bk Fac                ICRA B /     104.6   ISSUER NOT
Infrastructure Pvt Ltd                                        ICRA A4              COOPERATING
Navin Cold Storage Pvt. Ltd             TL                    ICRA C+      18.1    ISSUER NOT
                                                                                   COOPERATING
Navin Cold Storage Pvt. Ltd             CC                    ICRA C+      11.7    ISSUER NOT
                                                                                   COOPERATING
Navin Cold Storage Pvt. Ltd             Working capital loan  ICRA C+      55      ISSUER NOT
                                                                                   COOPERATING
Navin Cold Storage Pvt. Ltd             Unallocated Limits    ICRA C+      5.2     ISSUER NOT
                                                                                   COOPERATING
New Win Win Feeds Pvt Ltd               Bk Fac                ICRA BB-/    150     ISSUER NOT
                                                              ICRA A4               COOPERATING
Sepal Ceramic                           FB – TL               ICRA B+      12.4    Reaffirmed
Sepal Ceramic                           FB – CC               ICRA B+      34      Reaffirmed
Sepal Ceramic                           Unallocated Limits    ICRA B+      14.9    Reaffirmed
                                                              /ICRA A4
Suman Forwarding Agency Pvt Ltd         Bk Fac                ICRA BB /    155
                                                              ICRA A4
Sundaram Bnp Paribas Home               LT Bk Loans           ICRA AA+     7500    Assigned
Finance Ltd                                                                        /outstanding
Sundaram Bnp Paribas Home               NCDs                  ICRA AA+     20888   Outstanding
Finance Ltd
Sundaram Bnp Paribas Home               Subordinated Debt     ICRA AA+     1700    Outstanding
Finance Ltd
Supreme Overseas Exports India          LT - Fund based – CC  ICRA C+      200     Assigned
Pvt Ltd
Sura Leathers Pvt Ltd                   LT - Fund based – CC  ICRA D       65      Assigned
Sura Leathers Pvt Ltd                   LT/ST Unallocated     ICRA D       8.5     Assigned
True Well E Pipe Industries             LT –Fund Based        ICRA B       133.7
True Well E Pipe Industries             LT –Unallocated       ICRA B       26.3
Xander Finance Pvt Ltd                  LT Bk Lines           ICRA A+      5000    Assigned
Xander Finance Pvt Ltd                  LT Borrowing ProgrammeICRA A+      10000   outstanding
--------------------------------------------------------------------------------------------
$: 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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