January 17, 2019 / 11:03 AM / 6 months ago

ICRA ratings for Indian debt instruments-Jan 17

   Jan 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 16, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aarti Steels Ltd                        LOC                   ICRA A1      1900    Upgraded
                                                                                   from ICRA A
Daawat Foods Ltd                        NFBL                  ICRA A2+     70      -
Rating moved to the (Issuer not cooperating) category
Daawat Foods Ltd                        Unallocated           ICRA A2+     30      -
Rating moved to the (Issuer not cooperating) category
Hcg Eko Oncology Llp                    ST - Non-fund based   ICRA A2+     60      -
                                                              (SO)
Reason for delay in carrying out periodic review: - Review process is underway
Hcg Manavata Oncology Llp               ST - Non-fund based   ICRA A2+     80      -
                                                              (SO)
Reason for delay in carrying out periodic review: - Review process is underway
Lovato Ceramic Pvt Ltd                  NFBL                  ICRA A4      16      Withdrawn
LT Foods Ltd                            NFBL                  ICRA A2+     720     -
Rating moved to the (Issuer not cooperating) category
Nature Bio-Foods Ltd                    NFBL-LC/BG            ICRA A2+     20      -
Rating moved to the (Issuer not cooperating) category
Nature Bio-Foods Ltd                    Unallocated           ICRA A2+     10      -
Rating moved to the (Issuer not cooperating) category
Raghunath Agro Industries Pvt           NFBL-LC/BG            ICRA A2+     20      -
Ltd
Rating moved to the (Issuer not cooperating) category
Relaxo Footwears Ltd                    Non-funds-based       ICRA A1+     1200    Outstanding
Relaxo Footwears Ltd                    CP                    ICRA A1+     500     Outstanding
Repro India Ltd                         ST Non-FBL            ICRA A3+     385     Reaffirmed
Sigma Electric Manufacturing            ST – non-fund based   ICRA A2+     120     Assigned
Corporation Pvt Ltd
Sigma Electric Manufacturing            ST – FB/non-fund basedICRA A2+     350     Assigned
Corporation Pvt Ltd


LONG TERM RATINGS:
-------------------
Aarti Steels Ltd                        CC                    ICRA A+      2700    upgraded
                                                                                   from ICRA A
Aarti Steels Ltd                        TL                    ICRA A+      1660    upgraded
                                                                                   from ICRA A
Aarti Steels Ltd                        Unallocated           ICRA A+      551.6   upgraded
                                                                                   from ICRA A
Aarti Steels Ltd                        LT/ST Interchangeable ICRA A+      -       upgraded
                                                                                   from ICRA A
                                                                                   ICRA A1; 
                                                                                   Reaffirmed
Asiatic Colour Chem Industries          No Default Statement  ICRA BBB-            Removed from
Ltd.                                                          /ICRA A3             (Issuer not
                                                                                   cooperating)
Bangalore Metallurgicals Pvt            LT- Fund Based- Crash ICRA BB-     60      -
Ltd                                     Credit
(Issuer not cooperating)
Bangalore Metallurgicals Pvt            LT- Fund Based – TL   ICRA BB-     15      -
Ltd
(Issuer not cooperating)
Daawat Foods Ltd                        Working Capital LimitsICRA A-      3539    -
Rating moved to the (Issuer not cooperating) category
Daawat Foods Ltd                        TL                    ICRA A-      135     -
Rating moved to the (Issuer not cooperating) category
Daawat Foods Ltd                        Unallocated           ICRA A-      1250    -
Rating moved to the (Issuer not cooperating) category
Hcg Eko Oncology Llp                    LT - Fund based       ICRA A- (SO) 10      -
Reason for delay in carrying out periodic review: - Review process is underway
Hcg Eko Oncology Llp                    LT – TL               ICRA A- (SO) 330     -
Reason for delay in carrying out periodic review: - Review process is underway
Hcg Manavata Oncology Llp               LT - Fund based       ICRA A- (SO) 10      -
Reason for delay in carrying out periodic review: - Review process is underway
Hcg Manavata Oncology Llp               LT – TL               ICRA A- (SO) 250     -
Reason for delay in carrying out periodic review: - Review process is underway
Honer Developers Pvt Ltd                FBL                   ICRA BB+     650     Upgraded
                                                                                   from ICRA BB
Honer Developers Pvt Ltd                Unallocated           ICRA BB+     150     Upgraded
                                                                                   from ICRA BB
Jeevisha Foods Pvt. Ltd.                FBL                   ICRA B+      103     -
(Issuer not cooperating)
Lovato Ceramic Pvt Ltd                  FBL-CC                ICRA B+      50      Withdrawn
Lovato Ceramic Pvt Ltd                  FBL-TL                ICRA B+      27.1    Withdrawn
LT Foods Ltd                            Working Capital LimitsICRA A-      9026.2  -
Rating moved to the (Issuer not cooperating) category
LT Foods Ltd                            TL                    ICRA A-      925     -
Rating moved to the (Issuer not cooperating) category
LT Foods Ltd                            Unallocated           ICRA A-      1700    -
Rating moved to the (Issuer not cooperating) category
Manibhavnam Home Finance India          LT Bk Lines:          ICRA BBB-    150     Revised from
Pvt. Ltd                                unallocated                                ICRA BB+
Nature Bio-Foods Ltd                    Working Capital LimitsICRA A-      1120    -
Rating moved to the (Issuer not cooperating) category
Nature Bio-Foods Ltd                    Unallocated           ICRA A-      350     -
Rating moved to the (Issuer not cooperating) category
R.J. Rishikaran Projects Pvt            LT- Fund Based- TL    ICRA B       350     -
Ltd
(Issuer not cooperating)
Raghunath Agro Industries Pvt           Working Capital LimitsICRA A-      950     -
Ltd
Rating moved to the (Issuer not cooperating) category
Raghunath Agro Industries Pvt           TL                    ICRA A-      30      -
Ltd
Rating moved to the (Issuer not cooperating) category
Relaxo Footwears Ltd                    TL                    ICRA AA      397.1   Rating
                                                                                   upgraded
                                                                                   from ICRA AA-
Relaxo Footwears Ltd                    CC                    ICRA AA      1500    Rating
                                                                                   upgraded
                                                                                   from ICRA AA-
Repro India Ltd                         LT Non-FBL            -            50      -
Repro India Ltd                         TL                    ICRA BBB     410     Reaffirmed
Repro India Ltd                         LT/ ST FBL            ICRA BBB     1700    Reaffirmed
                                                              (Positive)/
                                                              ICRA A3+
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Withdrawn
Ltd - Sansar Trust February
2016
Shriram Transport Finance Co.           Second Loss Facility  ICRA BBB(SO) -       Withdrawn
Ltd - Sansar Trust February
2016
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Withdrawn
Ltd - Stfcl Cv Trust Nov 2015
Shriram Transport Finance Co.           Second Loss Facility  ICRA BBB(SO) -       Withdrawn
Ltd - Stfcl Cv Trust Nov 2015
Sigma Electric Manufacturing            LT – FB/CC            ICRA A-      80      Assigned
Corporation Pvt Ltd
Sigma Electric Manufacturing            LT / ST – FB/non-fund ICRA A- /A2+ 1050    Assigned
Corporation Pvt Ltd                     based
Sree Vidyanikethan Educational          Fund Based –CC        ICRA BB      100     Withdrawn
Trust
Sree Vidyanikethan Educational          Fund Based – TL       ICRA BB      203     Withdrawn
Trust
Sree Vidyanikethan Educational          Unallocated Limits    ICRA BB      197     Withdrawn
Trust
St. Wilfred Education Society           LT Fund based/TL      ICRA BB+     200     -
Rating moved to (Issuer not cooperating) Category
Strawberry Constructions Pvt            LT – Fund Based       ICRA BB-     900     -
Ltd
Rating moved to (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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