February 14, 2020 / 10:04 AM / 10 days ago

RPT-ICRA ratings for Indian debt instruments-Feb 14

 (Repeating to add additional ratings)
    Feb 14 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of February 13, 2020.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Canpac Trends Pvt. Ltd.                 Non-fund Based BG &   ICRA A3      69      Reaffirmed
                                        Credit Exposure Limit
Chiripal Textile Mills Pvt Ltd          Non Fund Based-BG     ICRA A2      60      Upgraded
                                                                                   from ICRA A3
Etesian Urja Ltd                        ST FB                 ICRA A1+     130     Assigned
Housing Development Finance             CP Programme          ICRA A1+     750000  Outstanding
Corporation Ltd
Jet Airways (India) Ltd                 ST, Non-FB Fac        ICRA D       39500   -
(Continues to remain under ‘Issuer Not Cooperating’ category)
John Deere Financial India Pvt          CP Programme          ICRA A1+     3000    Assigned
Ltd
Khandke Wind Energy Pvt Ltd             ST FB                 ICRA A1+     260     Assigned
Lalpur Wind Energy Pvt Ltd              ST FB                 ICRA A1+     1240    Assigned
Nandan Denim Ltd                        Fund based-Working    ICRA A2@     152     -
                                        Capital Fac (ST)
@ - watch with negative implications
Nandan Denim Ltd                        Non- FB Fac           ICRA A2@     800     -
@ - watch with negative implications
Nandan Industries Pvt Ltd               NFBL                  ICRA A2      50      Assigned
Nitte Education Trust                   ST-BG                 ICRA A1+     102     Withdrawn
Nitte Education Trust                   ST-LOC                ICRA A1+     100     Withdrawn
Ratedi Wind Power Pvt Ltd               ST Fundbased          ICRA A1+     210     Upgraded
                                                                                   from ICRA A4+
(Removed from rating watch with developing implications)
Rspl Ltd                                Non fund based, ST FacICRA A1+     4800    Reaffirmed
Rspl Ltd                                CP programme          ICRA A1+     4000    Reaffirmed
Sri Maharaja Refineries                 ST- Non Fund Based    ICRA D       393.8   -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Industries                 ST- Non Fund Based    ICRA D       337.5   -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Oil Imports And            ST- Non Fund Based    ICRA D       550     -
Exports India Pvt Ltd
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Tadas Wind Energy Pvt Ltd               ST FB                 ICRA A1+     1308    Assigned
Texture Clothing Company                ST- Fund Based        ICRA A4      50      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Texture Clothing Company                STUnallocated         ICRA A4      18      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
The Madras Medical Mission              ST, Non-FB Fac        ICRA A4      110     Reaffirmed
Vishva Vishal Engineering Ltd           Non-fund Based        ICRA A3      15      Reaffirmed
Wind Urja India Pvt Ltd                 ST FB                 ICRA A1+     220     Assigned


MEDIUM TERM RATINGS:
-------------------
Housing Development Finance             Fixed Deposit         MAAA(stable) -       Outstanding
Corporation Ltd                         Programme



LONG TERM RATINGS:
-------------------
Acme Chem Ltd                           LT -FB TL             ICRA A       1152.5  Reaffirmed
                                                              (Stable)
Acme Chem Ltd                           LT -FB Working CapitalICRA A       200     Reaffirmed
                                                              (Stable)
Acme Chem Ltd                           LT /ST-Fund           ICRA A       200     Reaffirmed
                                        Based/Non-Fund Based  (Stable) /
                                        Working Capital       A1
Adarsha Motor Sales Pvt Ltd             FB/CC                 ICRA         87.7    Reaffirmed
                                                              BB-(Stable)
Adarsha Motor Sales Pvt Ltd             Unallocated limits    ICRA         12.3    Reaffirmed
                                                              BB-(Stable)
Canpac Trends Pvt. Ltd.                 FB CC & Invoice       ICRA BBB-    470     Reaffirmed
                                        Discounting
(Outlook revised to Negative from Stable)
Canpac Trends Pvt. Ltd.                 FB TL                 ICRA BBB-    971.5   Reaffirmed
(Outlook revised to Negative from Stable)
Canpac Trends Pvt. Ltd.                 Unallocated Limits    ICRA BBB-/A3 200     Reaffirmed
(Outlook revised to Negative from Stable)
Chiripal Textile Mills Pvt Ltd          Fund Based-CC         ICRA BBB+    210     Upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB- (Stable)
Chiripal Textile Mills Pvt Ltd          Fund Based-TL         ICRA BBB+    1060    Upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB- (Stable)
Chiripal Textile Mills Pvt Ltd          Unallocated-LT/ ST    ICRA BBB+    130     Upgraded
                                                              (Stable)/A2          from ICRA
                                                                                   BBB- 
                                                                                   (Stable)/ A3
Creditaccess Grameen Ltd -              PTC Series A1         ICRA A+(SO)  -       Withdrawn
Northern Arc 2018 Mfi Titli
Creditaccess Grameen Ltd -              PTC Series A1         ICRA A+(SO)  -       Withdrawn
Northern Arc 2019 Mfi Naruto
Creditaccess Grameen Ltd -              PTC Series A1         ICRA A (SO)  -       Withdrawn
Northern Arc 2019 Mfi Yaga
Dholi Spintex Pvt Ltd                   Fund Based-TL         ICRA BBB+    2080    Assigned /
                                                              (Stable)             Outstanding
Dholi Spintex Pvt Ltd                   Fund Based-CC         ICRA BBB+    354.5   Assigned
                                                              (Stable)
Electronica Finance Ltd -               PTC Series A2         ICRA AA-(SO) 13.8    Withdrawn
Egret Sbl Ifmr Capital 2016
Electronica Finance Ltd - Mse           PTC Series A          ICRA AAA(SO) 108.5   Withdrawn
Loan Pool Trust Xi
Etesian Urja Ltd                        FB TL                 ICRA AA-     4010    Upgraded
                                                                                   from ICRA BB+
(Removed from rating watch with developing implications, Stable outlook assigned)
Hoin Mal Sons Enterprises Pvt           Fund based - TL       ICRA BB-     95      Withdrawn
Ltd                                                           (Stable)
Hoin Mal Sons Enterprises Pvt           Fund based - CC       ICRA BB-     95      Withdrawn
Ltd                                                           (Stable)
Housing Development Finance             NCDs                  ICRA         450000  Assigned
Corporation Ltd                                               AAA(stable)
Housing Development Finance             NCDs                  ICRA         1728830 Outstanding
Corporation Ltd                                               AAA(stable)
Housing Development Finance             Subordinated Debt     ICRA         55000   Outstanding
Corporation Ltd                         Programme             AAA(stable)
Housing Development Finance             Issuer Rating         ICRA         -       Outstanding
Corporation Ltd                                               AAA(stable)
Housing Development Finance             Bk Lines              ICRA         750000  Outstanding
Corporation Ltd                                               AAA(stable)
                                                              / A1+
Jeppiaar Power Corporation Pvt          LT- FB Fac            ICRA D       925     -
Ltd
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Jet Airways (India) Ltd                 NCD Programme         ICRA D       6989    -
Jet Airways (India) Ltd                 Long-TL               ICRA D       49700   -
(Continues to remain under ‘Issuer Not Cooperating’ category)
Jet Airways (India) Ltd                 LT, FB Fac            ICRA D       6450    -
(Continues to remain under ‘Issuer Not Cooperating’ category)
Jet Airways (India) Ltd                 LT, Non-FB Fac        ICRA D       7000    -
(Continues to remain under ‘Issuer Not Cooperating’ category)
Jsw Techno Projects Management          TL                    ICRA BBB+    11500   Assigned
Ltd                                                           (Stable)
Kepl Engineering Pvt Ltd                LT/ ST- Unallocated   ICRA         50      -
                                                              B(Stable) /
                                                              A4
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Khandke Wind Energy Pvt Ltd             FB TL                 ICRA AA-     6560.9  Upgraded
                                                                                   from ICRA BB-
(Removed from rating watch with developing implications, Stable outlook assigned)
L&T Transportation                      TL                    ICRA         198.2   Withdrawn
Infrastructure Ltd                                            AA(Stable)
Lalpur Wind Energy Pvt Ltd              FB TL                 ICRA AA-     9733.1  Upgraded
                                                                                   from ICRA BB-
(Removed from rating watch with developing implications, Stable outlook assigned)
Magma Housing Finance Ltd -             Assignee Payouts      Provisional  2006.5  Confirmed as
Mhfl Pnb Da Dec'1                                             ICRA AA (SO)         final
Nandan Denim Ltd                        Fund based-TL         ICRA BBB+@   3903.5  -
@ - watch with negative implications
Nandan Denim Ltd                        Fund based- Working   ICRA BBB+@   2498    -
                                        Capital Fac
@ - watch with negative implications
Nandan Industries Pvt Ltd               Fund Based-TL         ICRA BBB+    462.5   Assigned
                                                              (Stable)
Nandan Industries Pvt Ltd               Fund Based-CC         ICRA BBB+    172.5   Assigned
                                                              (Stable)
Nitte Education Trust                   LT Overdraft Facility ICRA A+      300     Withdrawn
                                                              (Stable)
Nitte Education Trust                   Unallocated           ICRA A+      268     Withdrawn
                                                              (Stable) /
                                                              A1+
Nlc Tamilnadu Power Ltd                 LT, TL                ICRA         22574.7 Assigned
                                                              AA+(CE)
                                                              (Stable)
Nlc Tamilnadu Power Ltd                 LT, FB working        ICRA         15000   Assigned
                                        capital limits        AA+(CE)
                                                              (Stable)
Northern Arc Capital Ltd -              PTC Series A2         ICRA         -       Withdrawn
Northern Arc Mosec Prospero                                   BB-(SO)
2018
Paramasivam Palanisamy                  LT- Fund Based        ICRA D       238     -
Charitable Trust
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Plastimber Impex                        FBL                   ICRA D       59      Withdrawn
Quality Exim Pvt Ltd                    Fund Based-TL         ICRA BBB+    403.6   Assigned
                                                              (Stable)
Quality Exim Pvt Ltd                    Fund Based-CC         ICRA BBB+    60      Assigned
                                                              (Stable)
Ratedi Wind Power Pvt Ltd               FB TL (TL)            ICRA AA-     5664.2  Upgraded
                                                                                   from ICRA BB
(Removed from rating watch with developing implications)
Rolex Rings Pvt Ltd                     FB Limits             ICRA D       5645.4  Withdrawn
(Issuer not cooperating)
Rolex Rings Pvt Ltd                     Non-FB Limits         ICRA D       939.1   Withdrawn
(Issuer not cooperating)
Rspl Ltd                                NCD Programme         ICRA AA-     3000    Reaffirmed
(Outlook revised to Negative from Stable)
Rspl Ltd                                Fund based, LT Fac    ICRA AA-     5990    Reaffirmed
(Outlook revised to Negative from Stable)
Rspl Ltd                                TL                    ICRA AA-     27710   Reaffirmed
(Outlook revised to Negative from Stable)
Rspl Ltd                                Proposed TL           ICRA AA-     2150    Reaffirmed
(Outlook revised to Negative from Stable)
Sapphire Foods India Pvt Ltd            Issuer Rating         ICRA         -       Assigned
                                                              BBB(Stable)
Sarvesh Cars And Motors Pvt Ltd         LT Unallocated        ICRA         89      -
                                                              B+(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sarvesh Cars And Motors Pvt Ltd         LT- TL                ICRA         35.7    -
                                                              B+(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Industries                 LT- Fund Based        ICRA D       50      -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Oil Imports And            LT- Fund Based        ICRA D       140     -
Exports India Pvt Ltd
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Oil Imports And            LT/Shortterm-         ICRA D/D     10      -
Exports India Pvt Ltd                   Unallocated
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sri Maharaja Refineries                 LT- Fund Based        ICRA D       100     -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Tadas Wind Energy Pvt Ltd               FB TL                 ICRA AA-     9772    Upgraded
                                                                                   from ICRA B+
(Removed from rating watch with developing implications, Stable outlook assigned)
Tadas Wind Energy Pvt Ltd               FB CC                 ICRA AA-     300     Upgraded
                                                                                   from ICRA B+
(Removed from rating watch with developing implications, Stable outlook assigned)
Texture Clothing Company                LT- Fund Based- TL    ICRA         12      -
                                                              B(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
The Madras Medical Mission              LT, FB Fac            ICRA         250     Upgraded
                                                              BB(Stable)           from ICRA
                                                                                   BB- (Stable)
The Madras Medical Mission              LT, TL                ICRA         621.7   Upgraded
                                                              BB(Stable)           from ICRA
                                                                                   BB- (Stable)
The Madras Medical Mission              LT, Unallocated Fac   ICRA         19.1    Upgraded
                                                              BB(Stable)           from ICRA
                                                                                   BB- (Stable)
Thirumeni Finance Pvt Ltd -             PTC Series A1         Provisional  288.9   Confirmed as
Northern Arc 2019 Sbl Chandler                                ICRA AA(SO)          final
Thirumeni Finance Pvt Ltd -             PTC Series A2         Provisional  64.7    Confirmed as
Northern Arc 2019 Sbl Chandler                                ICRA AA(SO)          final
Thirumeni Finance Pvt Ltd -             PTC Series A3         Provisional  34.5    Confirmed as
Northern Arc 2019 Sbl Chandler                                ICRA                 final
                                                              BBB+(SO)
Uttara Impex Pvt Ltd                    CC fund based (SO)    ICRA         170     Withdrawn
                                                              BBB+(CE)
                                                              (Stable)
Vishva Vishal Engineering Ltd           Fund Based – CC       ICRA BBB-    45      Reaffirmed
                                                              (Stable)
Vishva Vishal Engineering Ltd           Fund Based – TL       ICRA BBB-    45      Reaffirmed
                                                              (Stable)
Vishva Vishal Engineering Ltd           Unallocated           ICRA BBB-    56.7    Reaffirmed
                                                              (Stable) /
                                                              A3
Wind Urja India Pvt Ltd                 FB TL                 ICRA AA-     1330.9  Upgraded
                                                                                   from ICRA B-
(Removed from rating watch with developing implications, Stable outlook assigned)
Embee Software Pvt Ltd                  Bk Fac                ICRA BBB+    794     -
                                                              (Stable) /
                                                              A2
(Reason for delay in carrying out periodic review: - Review process is underway)


--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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