January 11, 2018 / 10:45 AM / 9 days ago

ICRA ratings for Indian debt instruments-Jan 11

    Jan 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 10, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Dhammanagi Developers Pvt Ltd           Dhammanagi Kings      ICRA         -        -
                                        Ville project         Bengaluru
                                                              Four-Star1 grading
Esquire Machines Pvt Ltd                Non-fund based-limits ICRA A4      20      Reaffirmed
Il&Fs Securities Services Ltd           CP programme 900.00   ICRA A1+     12000   Assigned
                                                                                   /Outstanding
Il&Fs Securities Services Ltd           ST Bk lines           ICRA A1+     3500    outstanding
Rbl Bank Ltd                            CD Programme          ICRA A1+     50000   Assigned/
                                                                                   outstanding
Rbl Bank Ltd                            ST Fixed Deposit      ICRA A1+             outstanding
                                        Programme
Regen Powertech Pvt Ltd                 Fund Based Bk Limits  ICRA D       500     Revised from
                                        (ST)                                       ICRA A4
ISSUER NOT COOPERATING
Regen Powertech Pvt Ltd                 Non-Fund Based Bk     ICRA D       15300   Revised from
                                        Limits (ST)                                ICRA A4
ISSUER NOT COOPERATING
Sargam Metals Pvt Ltd                   ST, Non-FB Fac        ICRA D       85      Revised from
                                                                                   ICRA A4
Tube Investments Of India Ltd           ST non-fund based     ICRA A1+     5000    Assigned
Varun Beverages Ltd                     CP (Proposed)         ICRA A1+     1000    #
Warren Tea Ltd                          Non-FBL.              ICRA A2      26.4    Downgraded
                                                                                   from ICRA A1
MEDIUM TERM RATINGS:
-------------------
Rbl Bank Ltd                            Medium Term Fixed     MAA          -       Outstanding
                                        Deposit Programme
LONG TERM RATINGS:
-------------------
Alpine Developers                       Fund based-TL         ICRA B+      1975    Issuer Not
                                                                                   Cooperating
Apurvakriti Infrastructure Pvt          LT FBL                ICRA BB-     30      Issuer Not
Ltd                                                                                Cooperating
Apurvakriti Infrastructure Pvt          LT Non- FBL Name of   ICRA BB-     32      Issuer Not
Ltd                                     the rated entity                           Cooperating
Badepally Municipality                  Issuer Rating         ICRA B+              Assigned
Embassy Inn Pvt Ltd                     NCD                   ICRA BB-     750     Withdrawn
Esquire Machines Pvt Ltd                Unallocated limits    -            -       -
Esquire Machines Pvt Ltd                Fund based-TL         ICRA B+      15      Reaffirmed
Esquire Machines Pvt Ltd                Fund based- Working   ICRA B+      65      Reaffirmed
                                        Capital Fac
Ess Kay Fincorp Ltd Volga CV            PTC Series A1         Provisional  436.5   Assigned
Ifmr Capital 2017                                             ICRA A-(SO)
Ess Kay Fincorp Ltd Volga CV            PTC Series A2         Provisional  46.7    Assigned
Ifmr Capital 2017                                             ICRA BB(SO)
Ganga Developers                        Fund based-TL         ICRA BB      125     ISSUER NOT
                                                                                   COOPERATING
Kiara Jewellery Pvt. Ltd.               Fund based-           -            60      Issuer Not
                                        Post-shipment Limit                        Cooperating
Kiara Jewellery Pvt. Ltd.               Fund                  ICRA B       80      Issuer Not
                                        based-Pre-shipment    /ICRA A4             Cooperating
                                        Limit
Lubi Industries Llp                     BLR                   ICRA A/      650     Review
                                                              ICRA A1              process is
                                                                                   underway
Mauli Fresh Agro Industries             Unallocated amount    ICRA B       250     Issuer Not
Pvt Ltd                                                                            Cooperating
Maza Developers Pvt. Ltd.               Fund based-TL         ICRA BB+     75.1    Issuer Not
                                                                                   Cooperating
Maza Developers Pvt. Ltd.               Unallocated limit     ICRA BB+     24.9    Issuer Not
                                                                                   Cooperating
Mula Agro Products Pvt Ltd              Fund based-TL         ICRA B+      3       Issuer Not
                                                                                   Cooperating
Mula Agro Products Pvt Ltd              Unallocated Limits    ICRA B+      7       Issuer Not
                                                                                   Cooperating
Nagarkurnool Municipality               Issuer Rating         ICRA B+              Assigned
Oswal Minerals Ltd                      LT, CC Fac            ICRA BB      300     Assigned
Rbl Bank Ltd                            Basel III Compliant   ICRA AA-     80000   outstanding
                                        Tier II Bond Programme(hyb)
Regen Powertech Pvt Ltd                 TL                    ICRA D       250     Revised from
                                                                                   ICRA BB
ISSUER NOT COOPERATING
Regen Powertech Pvt Ltd                 Fund Based Bk Limits  ICRA D       3500    Revised from
                                        (LT)                                       ICRA BB
ISSUER NOT COOPERATING
Reliable Exports (India) Pvt            TL                    ICRA B       5750    Withdrawn
Ltd
ISSUER NOT COOPERATING
Sargam Metals Pvt Ltd                   LT: FB Fac            ICRA D       300     Revised from
                                                                                   ICRA B-
Sargam Metals Pvt Ltd                   LT: TL                ICRA D       25      Revised from
                                                                                   ICRA B-
Shriram Transport Finance Co.           Second Loss Facility  ICRA BBB(SO)         Withdrawn
Ltd Sansar Trust Mar 2015
Shriram Transport Finance Co.           PTCs                  ICRA AAA(SO)         Withdrawn
Ltd-Sansar Trust Mar 2015
Siddhi Cotton Industries                CC                    ICRA B+      120     Review
                                                                                   process is
                                                                                   Underway
The Dharamsi Morarji Chemical           Unallocated Limit     ICRA         500     Assigned
Co. Ltd                                                       BBB-/ICRA A3
Tube Investments Of India Ltd           CP                    -            5250    -
Tube Investments Of India Ltd           LT fund based         ICRA AA+     5250    Assigned
Warren Tea Ltd                          FB Limits             ICRA BBB+    140     Downgraded
                                                                                   from ICRA A
Warren Tea Ltd                          TL                    ICRA BBB+    100     Downgraded
                                                                                   from ICRA A
--------------------------------------------------------------------------------------------
$: 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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