January 18, 2018 / 10:31 AM / a month ago

ICRA ratings for Indian debt instruments-Jan 18

    Jan 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 17, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Capital First Ltd                       CP programme          ICRA A1+     30000   Assigned
Celestial Knits And Fabs Pvt            ST FB                 ICRA A4      45      Reaffirmed
Ltd
Celestial Knits And Fabs Pvt            ST Non FB             ICRA A4      21      Reaffirmed
Ltd
K2 Metals Pvt Ltd                       Non-fund based – LOCs ICRA A4      45      Reaffirmed
Removed from ‘Issuer Not Cooperating’ Category
Kalol Steel And Alloys Pvt Ltd          Non-fund Based –      ICRA A4      20      Reaffirmed
                                        ILC/FLC/BG
Satin Creditcare Network Ltd            ST                    ICRA A1+(SO) 500     Withdrawn
Satin Creditcare Network Ltd            CP                    ICRA A1+(SO) 500     Withdrawn
The Indian Card Clothing Co.            Non-fund based        ICRA A2+     20      Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Alsthom Industries Ltd                  TL                    Prov ICRA AA 500     Final
                                                              (SO)
Alsthom Industries Ltd                  FB working capital    Prov ICRA AA 100     Final
                                        limits                (SO)
Anishka Developers Pvt Ltd              Fund based-TL         ICRA BB-     400     Assigned
Annapurna Microfinance Pvt              PTC Series A1         Prov rating  207.1   confirmed as
Ltd-Tyrion Ifmr Capital 2017                                  of ICRAA(SO)         final
Annapurna Trading Company               Fund Based – CC       ICRA B       80      Reaffirmed
Annapurna Trading Company               Fund Based – CC       ICRA B       20      Reaffirmed
                                        against pledge of     /ICRA A4
                                        warehouse receipts
Asa International India                 PTC Series A1         Prov ICRAA-  271.7   confirmed as
Microfinance Pvt Ltd-Altair                                   (SO)                 final
Ifmr Capital 2017
Asa International India                 PTC Series A2         Prov ICRA    23.4    confirmed as
Microfinance Pvt Ltd-Altair                                   BBB-(SO)             final
Ifmr Capital 2017                                             
Bharat Financial Inclusion              PTC Series A1         ICRA AA+             Withdrawn
Ltd- Imlrt February 2016 A                                    (SO)
Celestial Knits And Fabs Pvt            LT Fund based – CC    ICRA BB-     34      Reaffirmed
Ltd
Electronic Payment and                  TL                    ICRA BBB     802.5   #
Services Pvt Ltd                                                                  
Electronic Payment and                  Unallocated Limits    ICRA BBB     247.5   #
Services Pvt Ltd                                                                   
Friends Land Developers                 Fund based - Bk Fac   -                    -
Friends Land Developers                 Unallocated           -            1000    -
Future Education And Research           FB – TL               ICRA BB+     1079.8  Assigned
Trust
Future Education And Research           FB - Overdraft        ICRA BB+     65      Assigned
Trust
Future Education And Research           Unallocated           ICRA BB+     55.2    Assigned
Trust
Future Education And Research           Fund based/ non-FBL   ICRA BB+ /           Assigned
Trust                                                         ICRA A4+
Guruvayoor Infrastructure Pvt           TL                    ICRA BBB     3384.1  Assigned
Ltd
Guruvayoor Infrastructure Pvt           NCD                   ICRA BBB     981.4   Assigned
Ltd
Indo-Mim Pvt Ltd-Indo-Mim Pvt           BLR                   ICRA AA      4613.4
Ltd
Review Process is Under-way
Indo-Mim Pvt Ltd-Indo-Mim Pvt           NCD(proposed)         ICRA AA      600
Ltd
Review Process is Under-way
Jai Krishan-Svp Jv                      Fund based - TL       ICRA B+      300     Downgraded
                                                                                   from ICRA BB
Jai Krishan-Svp Jv                      Unallocated           ICRA B+      50      Downgraded
                                                                                   from ICRA BB
K2 Metals Pvt Ltd                       Fund Based – CCs      ICRA B+      50      Upgraded
                                                                                   from ICRA B
Removed from ‘Issuer Not Cooperating’ Category
K2 Metals Pvt Ltd                       Fund Based – TL       ICRA B+      50      Upgraded
                                                                                   from ICRA B
Removed from ‘Issuer Not Cooperating’ Category
Kalol Steel And Alloys Pvt Ltd          FB – TL               -                    -
Kalol Steel And Alloys Pvt Ltd          FB – CC               ICRA B+      40      Reaffirmed -
Kalol Steel And Alloys Pvt Ltd          Unallocated Limits    ICRA B+      5.6     Reaffirmed
Rama Cotspin Pvt Ltd                    LT/ ST FBL            ICRA BBB-/   200     Assigned
                                                              ICRAA3
Rmz Azure Projects Pvt Ltd              TL                    ICRA A+(SO)  1800    confirmed as
                                                                                   final
The Indian Card Clothing Co.            Unallocated           -                    -
Ltd
The Indian Card Clothing Co.            TL                    ICRA A-      56      Reaffirmed
Ltd
The Indian Card Clothing Co.            WCDL                  ICRA A-      10      Reaffirmed
Ltd
The Indian Card Clothing Co.            FB working capital    ICRA A-/     90      Reaffirmed
Ltd                                                           ICRA A2+
, outlook revised to negative from stable
Utkarsh Small Finance Bank              NCD Programme         ICRA A-              Withdrawn
Utkarsh Small Finance Bank              NCD Programme         ICRA A-      1170    outstanding
Vidya Sanskaar Educational And          LT-TL                 ICRA B+      56.9
Charitable Trust
Issuer not cooperating
Vidya Sanskaar Educational And          LT- Unallocated       ICRA B+      1.1
Charitable Trust                        Charitable Trust
Issuer not cooperating
Wires And Cables (India)                LT – Fund Based       ICRA BB+     100
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@thomsonreuters.com)
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