January 15, 2020 / 11:27 AM / 6 days ago

RPT-ICRA ratings for Indian debt instruments-Jan 15

 (Repeating to add more ratings)
    Jan 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 14, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adani Ports And Special                 CP Programme          ICRA A1+     67000   Outstanding
Economic Zone Ltd
Appl Industries Ltd                     Non-FBL               ICRA A3      100     Withdrawn
Asn Agri Genetic Pvt Ltd                Non-FBL               ICRA A4      20      -
Issuer did not co-operate; based on best available information.
Hiten Fasteners Pvt Ltd                 ST – Fund Based Bill  ICRA A4      60      -
                                        Discounting
Outlook revised to Negative from Stable
Ferromet Steels Pvt Ltd                 ST- FLC/ILC           ICRA D       40      -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Ferromet Steels Pvt Ltd                 ST- Interchangeable   ICRA D       -       -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Hiten Fasteners Pvt Ltd                 ST – Non-fund Based   ICRA A4      41.9    -
                                        BG
Outlook revised to Negative from Stable
Hydromatik                              ST - Fund Based       ICRA A4      20      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sabari Textiles Pvt Ltd                 ST – NFBL             ICRA D       7       -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Mbm Engineering Infotech Ltd            ST – Non Fund Based   ICRA A4      2.5     -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Perumal Spinning Mills Pvt Ltd          ST – Non Fund Based   ICRA A4      20      -
                                        Facility
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Prateek Apparels Pvt Ltd                ST - Fund Based       ICRA A4      50      -
Continues to remain in the ‘Issuer Not Cooperating’ category
Prateek Apparels Pvt Ltd                ST - Unallocated      ICRA A4      105.7   -
Continues to remain in the ‘Issuer Not Cooperating’ category
Prateek Apparels Pvt Ltd                ST - Non-Fund Based   ICRA A4      60      -
Continues to remain in the ‘Issuer Not Cooperating’ category
Sanskar Agro Processors Pvt.            ST FBL                ICRA A4      15      -
Ltd.
Issuer Not Cooperating category
Sanskar Agro Processors Pvt.            ST interchangable     ICRA A4      -       -
Ltd.                                    limit
Issuer Not Cooperating category
Seedworks International Pvt Ltd         FBL Trust Name        ICRA A2      300     upgraded
                                                                                   from ICRA A3+
Synergy Systems & Solutions             Non-FB limit          ICRA A4      52      -
Rating Continues to remain under issuer not cooperating category
Carona Knit Wear                        ST – FB Fac           ICRA A4      155     Downgraded
                                                                                   from ICRA A4+
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Itarsi Oils And Flours Pvt Ltd          Non-fund based – LOC  ICRA A3+     50      Withdrawn
(Issuer not cooperating)
Subabhalaji Spinning Mills              ST – Non FB Fac       ICRA A4      14.9    -
India Pvt Ltd
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)

LONG TERM RATINGS:
-------------------
Abhi S.K.Hospital Pvt Ltd               LT- Fund Based- CC    ICRA B+      63.2    -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Abhi S.K.Hospital Pvt Ltd               LT – Unallocated      ICRA B+      49.3    -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Adani Ports And Special                 NCD                   ICRA AA+@    70000   -
Economic Zone Ltd
@ - watch with negative implications     
Rating placed on watch with negative implications
Adani Ports And Special                 Bk Fac                ICRA AA+@    100200  -
Economic Zone Ltd
Rating placed on watch with negative implications
Ananya Hospital Pvt Ltd                 LT - CC               ICRA B+      5       Downgraded
                                                              (Stable)             from ICRA BB
                                                                                  
(Stable)continues to remain in the ‘Issuer Not Cooperating’ category
Ananya Hospital Pvt Ltd                 LT - Unallocated      ICRA B+      37.3    Downgraded
                                                              (Stable)             from ICRA BB
                                                                                  
(Stable)continues to remain in the ‘Issuer Not Cooperating’ category
Appl Industries Ltd                     CC                    ICRA BBB-    1040    Withdrawn
                                                              (Stable)
Appl Industries Ltd                     TL LT - Fund Based    ICRA BBB-    860     Withdrawn
                                        Cash 12 Credit        (Stable)
Asn Agri Genetic Pvt Ltd                FBL                   ICRA         210     -
                                                              B+(Stable)
Issuer did not co-operate; based on best available information.
D. S. Developers                        FB limits/ TL         ICRA         100     -
                                                              B(Stable)
Issuer did not co-operate; based on best available information.
Dhiraj Foundation                       LT- TL                ICRA B-      206.3   -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Dhiraj Foundation                       LT – Unallocated      ICRA B-      1.3     -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Ferromet Steels Pvt Ltd                 LT – CC               ICRA D       250     -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Ferromet Steels Pvt Ltd                 LT – TL               ICRA D       35.5    -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Ferromet Steels Pvt Ltd                 LT- ILG               ICRA D       5       -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Hiten Fasteners Pvt Ltd                 LT - Fund Based CC    ICRA BB-     120     -
Outlook revised to Negative from Stable
Hiten Fasteners Pvt Ltd                 LT - Fund Based Term- ICRA BB-     87.5    -
                                        Loan
Outlook revised to Negative from Stable
Hydromatik                              LT - TL               ICRA B+      66.2    -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Hydromatik                              LT - CC               ICRA B+      20      -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ibd Nalanda Infrastructure              FB                    ICRA D       240     -
Pvt. Ltd.
Rating continues to remain under ‘Issuer Not Cooperating’ category
Ibd Nalanda Infrastructure              Unallocated           ICRA D       85.2    -
Pvt. Ltd.
Rating continues to remain under ‘Issuer Not Cooperating’ category
J Matadee Free Trade Zone Pvt           LT - Fund Based       ICRA         160     Downgraded
Ltd                                                           B+(Stable)           from ICRA
                                                                                   BB+(Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Madhucon Projects Ltd                   FB Fac                ICRA D       4770.5  -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Madhucon Projects Ltd                   Non-fund based        ICRA D       7282    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Madhucon Projects Ltd                   Unallocated Limits    ICRA D       1947.5  -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Mbm Engineering Infotech Ltd            LT- Fund Based – CC   ICRA B       65      -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Mbm Engineering Infotech Ltd            LT – Fund Based TL    ICRA B       8       -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Mbm Engineering Infotech Ltd            LT/ ST – Unallocated  ICRA B       24.5    -
                                                              (Stable)/
                                                              ICRA A4
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Meena Advertisers                       LT- Fund Based        ICRA B+      80      -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Meena Advertisers                       LT – Unallocated      ICRA B+      20      -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Ome Sree Sai Ganesh Poultries           LT - Fund Based/ CC   ICRA C       15      -
Rating Continues to remain under issuer not cooperating category
Ome Sree Sai Ganesh Poultries           LT - Fund Based TL    ICRA C       38.5    -
Rating Continues to remain under issuer not cooperating category
Ome Sree Sai Ganesh Poultries           LT – Unallocated      ICRA C       16.5    -
Rating Continues to remain under issuer not cooperating category
Perumal Spinning Mills Pvt Ltd          LT- TL                ICRA B+      28.5    -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Perumal Spinning Mills Pvt Ltd          LT – Fund Based       ICRA B+      117.5   -
                                        Facility              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Perumal Spinning Mills Pvt Ltd          LT/ ST – Unallocated  ICRA B+      1.5     -
                                                              (Stable)/
                                                              ICRA A4
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Prateek Apparels Pvt Ltd                LT– Fund based- CC    ICRA B+      824.3   Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB-
(Stable)and Continues to remain in the ‘Issuer Not Cooperating’ category
Rakindo Kovai Township Pvt Ltd          LT Loan – Proposed    ICRA B+      1000    Withdrawn
                                                              (Stable)
Rich Phytocare Pvt Ltd                  LT – TL               ICRA         90.1    Withdrawn
                                                              BB+(Stable)
Issuer Not Cooperating category
Rich Phytocare Pvt Ltd                  LT – Unallocated      ICRA         109.9   Withdrawn
                                                              BB+(Stable)
Issuer Not Cooperating category
Ronald Colaco                           LT - Fund Based       ICRA BB+     150     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BBB (Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category
Rosha Alloys Pvt Ltd                    FBL                   ICRA         40      -
                                                              B+(Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category
Rosha Alloys Pvt Ltd                    Non-FBL               ICRA         10      -
                                                              B+(Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category
Rosha Alloys Pvt Ltd                    Unallocated           ICRA         75      -
                                                              B+(Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category
S.P. Sortex Rice Exports India          FBL                   ICRA B+      172     -
Ltd                                                           (Stable)
continues to remain under ‘Issuer Not Cooperating’ category
S.P. Sortex Rice Exports India          Unallocated           ICRA B+      8       -
Ltd                                                           (Stable)
continues to remain under ‘Issuer Not Cooperating’ category
Sabari Textiles Pvt Ltd                 LT – Fund Based TL    ICRA D       124.7   -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Sabari Textiles Pvt Ltd                 LT – FBL              ICRA D       38.3    -
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Sanskar Agro Processors Pvt.            LT FBL                ICRA B+      192.6   -
Ltd.
Issuer Not Cooperating category
Sanskar Agro Processors Pvt.            Unallocated limit     ICRA         17.4    -
Ltd.                                                          B+/ICRA A4
Issuer Not Cooperating category
Satwi Infra                             LT- Unallocated       ICRA B       200     -
                                                              (Stable)
Rating Continues to remain under ‘Issuer Not Cooperating’ category
Seaward Exports Pvt Ltd                 FBL                   ICRA         100     -
                                                              B+(Stable)
continues to remain in the ‘Issuer Not Cooperating’ category
Seedworks International Pvt Ltd         Fund based/CC         ICRA         400     Upgraded
                                                              BBB+(Stable)         from ICRA
                                                                                   BBB(Stable)
Sh Food Processing Pvt Ltd              Fund based- CC        ICRA BBB(CE) 35      -
Outlook revised to Negative from Positive
Sh Food Processing Pvt Ltd              Fund based- TL        ICRA BBB(CE) 380     -
Outlook revised to Negative from Positive
Sri Sai Agro Industries                 LT - CC               ICRA B       40      -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sri Sai Agro Industries                 LT - TL               ICRA B       25      -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sri Srinivasa Spintex (India)           LT - Fund Based/ CC   ICRA         550     -
Ltd                                                           B+(Stable)
Rating Continues to remain under issuer not cooperating category
Sri Srinivasa Spintex (India)           LT - Fund Based TL    ICRA         639.5   -
Ltd                                                           B+(Stable)
Rating Continues to remain under issuer not cooperating category
Sri Srinivasa Spintex (India)           LT – NonFund Based    ICRA         24.7    -
Ltd                                                           B+(Stable)
Rating Continues to remain under issuer not cooperating category
Sri Srinivasa Spintex (India)           LT – Unallocated      ICRA         28.3    -
Ltd                                                           B+(Stable)
Rating Continues to remain under issuer not cooperating category
Sri Varun Logistics Park Pvt            LT - Fund Based TL    ICRA         313.4   -
Ltd                                                           B+(Stable)
Sri Varun Logistics Park Pvt            LT – Unallocated      ICRA         46.6    Downgraded
Ltd                                                           B+(Stable)           from ICRA
                                                                                   BB- (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Srinagar Banihal Expressway Ltd         FB Fac – TL           ICRA D       14400   Downgraded
                                                                                   from ICRA
                                                                                   BB- (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Srinivasa Farms Pvt Ltd                 LT: CC Fac            ICRA BBB     706     Downgraded
                                                                                   from ICRA
                                                                                   BBB+
outlook revised to Negative from positive
Srinivasa Farms Pvt Ltd                 LT: TL Fac            ICRA BBB     179.7   Downgraded
                                                                                   from ICRA
                                                                                   BBB+
outlook revised to Negative from positive
Srinivasa Farms Pvt Ltd                 Long/ ST: Unallocated ICRA         315     Downgraded
                                                              BBB/ICRA A3+         from ICRA
                                                                                   BBB+/A2
outlook revised to Negative from positive
Synergy Systems & Solutions             FB Limits             ICRA B+      24.5    -
                                                              (Stable)
Rating Continues to remain under issuer not cooperating category
Arhyama Solar Power Pvt Ltd             TL                    ICRA         316.5   -
                                                              B+(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Carona Knit Wear                        LT - TL               ICRA         9.6     Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB+ (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Carona Knit Wear                        LT –FB Fac            ICRA         7.5     Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB+ (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
G.M. Pens International Pvt Ltd         -                     -            -       -
(No Default Statement)
Itarsi Oils And Flours Pvt Ltd          Fund based – TL       ICRA         40      Withdrawn
                                                              BBB(Stable)
(Issuer not cooperating)
Itarsi Oils And Flours Pvt Ltd          Unallocated limit     ICRA         16.3    Withdrawn
                                                              BBB(Stable)
(Issuer not cooperating)
Itarsi Oils And Flours Pvt Ltd          Fund based – CC       ICRA         1450    Withdrawn
                                                              BBB(Stable)
                                                              / A3+
(Issuer not cooperating)
Rmp Farms                               LT - Fund Based – TL  ICRA         164     Downgraded
                                                              B+(Stable)           from ICRA BB
                                                                                   (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Rmp Farms                               LT –Fund Based – CC   ICRA         36      Downgraded
                                                              B+(Stable)           from ICRA BB
                                                                                   (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Shantesha Motors Pvt Ltd                LT - Fund Based/ CC   ICRA BB+     97.5    Downgraded
                                                              (Stable)             from ICRA
                                                                                   BBB (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Shree Murugan Flour Mills (P)           LT – Fund Based       ICRA D       300     -
Ltd
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Spandana Sphoorty Financial             PTC Series A          ICRA A(SO)   1199.6  Confined as
Ltd - Kartikeya 09 2019                                                            final
Sravan Ftwz Pvt Ltd                     LT – Unallocated      ICRA B+      500     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sree Ananthalakshmi Textiles            Fund based – CC       ICRA         30      Downgraded
Pvt Ltd                                                       B-(Stable)           from ICRA B
                                                                                   (Stable)
Sree Siva Sankar Automobiles            LT – FBL              ICRA         75      Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB-(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Subabhalaji Spinning Mills              LT- Fund Based – CC   ICRA B       30      -
India Pvt Ltd                                                 (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Subabhalaji Spinning Mills              LT – Fund Based - TL  ICRA B       111.5   -
India Pvt Ltd                                                 (Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sudharma Infratech Pvt Ltd              LT - Fund Based CC    ICRA         40      -
                                                              B(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sudharma Infratech Pvt Ltd              LT - Non Fund Based   ICRA         70      -
                                                              B(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Sudharma Infratech Pvt Ltd              LT – Unallocated      ICRA         48.4    -
                                                              B(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
 
--------------------------------------------------------------------------------------------
$: 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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