January 24, 2019 / 11:09 AM / 6 months ago

ICRA ratings for Indian debt instruments-Jan 24

   Jan 24 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 23, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ag Granites Pvt Ltd                     ST – FB               ICRA A3      240     Assigned /
                                                                                   Outstanding
Ag Granites Pvt Ltd                     ST – Non-fund based   ICRA A3      43      Assigned /
                                                                                   Outstanding
Dharmlok Industries                     ST - Fund Based       ICRA A4      70      -
(Issuer not cooperating)
Jm Financial Products Ltd               CP (CP) Programme     ICRA A1+     45000   Outstanding
Mudrakshi Hytech India Pvt Ltd          ST – Non-Fund Based   ICRA A4+     120     -
(Issuer not cooperating)
Northern Arc Capital Ltd                Northern Arc 2018     PTC Series   237.6   Provisional
                                        Mosec Rigsby          A1                   rating of
                                                                                   ICRA A (SO)
                                                                                   confirmed
                                                                                   as final
Ongc Mangalore Petrochemicals           Fund Based - Working  ICRA A1+&    35000   Reaffirmed
Ltd                                     Capital Fac
&: Under rating watch with developing implications
Ongc Mangalore Petrochemicals           Non-fund Based -      ICRA A1+&    2500    Reaffirmed
Ltd                                     Working Capital Fac
&: Under rating watch with developing implications
Ongc Mangalore Petrochemicals           CP                    ICRA A1+&    35000   Reaffirmed
Ltd
&: Under rating watch with developing implications
Stefina Ceramic Pvt. Ltd.               Non-fund basedBG      ICRA A4      12.5    -
(Issuer not cooperating)


LONG TERM RATINGS:
-------------------
AG Granites Pvt Ltd                     LT/ST – Unallocated   -            -       -
AG Granites Pvt Ltd                     LT – FB               ICRA BBB-    220     Assigned /
                                                                                   Outstanding
AG Granites Pvt Ltd                     LT – Interchangeable  ICRA BBB-    -       Assigned
Alpha Milk Foods Pvt. Ltd.              FB Limits             ICRA B+      240     -
* Issuer did not cooperate; based on the best available information
B.V. Cots Spin Industries               LT Fundbased limits   ICRA D       211.5   -
(Issuer not cooperating)
Dharmlok Industries                     LT - Fund Based/ CC   ICRA B+      54.5    -
(Issuer not cooperating)
Diligent Scm Solutions Pvt Ltd          FB Limits             ICRA D       61.4    Withdrawn
Diligent Scm Solutions Pvt Ltd          Unallocated Limits    ICRA D       4.5     Withdrawn
Diligent Scm Solutions Pvt Ltd          Unallocated Limits    ICRA D/      59.1    Withdrawn
                                                              ICRA D
Jana Small Finance Bank Ltd             PTC Series A2         ICRA D(SO)   -       Reaffirmed
-Goldstein Ifmr
Capital 2016
Jana Small Finance Bank Ltd-            PTC Series A3         ICRA D(SO)   -       Reaffirmed
Oceania Ifmr
Capital 2016
Jana Small Finance Bank Ltd             PTC Series A2         ICRA D(SO)   -       Reaffirmed
-Smith Ifmr Capital 2016
Jana Small Finance Bank Ltd-            PTC Series A2         ICRA D(SO)   -       Reaffirmed
Syme Ifmr Capital
2016
Jana Small Finance Bank                 PTC Series A2         ICRA D(SO)   -       Reaffirmed
Ltd-Leonardo Ifmr
Capital 2016
Jana Small Finance Bank                 PTC Series A2         ICRA D(SO)   -       Reaffirmed
Ltd-Moses Ifmr
Capital 2016
Jana Small Finance Bank                 PTC Series A1         ICRA D(SO)   -       Reaffirmed
Ltd-Raphael Ifmr
Capital 2016
Jana Small Finance Bank                 PTC Series A2         ICRA D(SO)   -       Reaffirmed
Ltd-Raphael Ifmr
Capital 2016
JM Financial Products Ltd               NCD Programme         ICRA AA      -       Withdrawn
JM Financial Products Ltd               NCD Programme         ICRA AA      39300   Outstanding
JM Financial Products Ltd               LT Bk Lines           ICRA AA      15000   Outstanding
JM Financial Products Ltd               LT Market Linked      PP-MLD ICRA  -       Withdrawn
                                        Debentures (Principal AA
                                        Protected)
JM Financial Products Ltd               LT Market Linked      PP-MLD ICRA  4550    Outstanding
                                        Debentures (Principal AA
                                        Protected)
KSC Educational Society                 LT - Fund Based       ICRA B+      1500    -
(Issuer not cooperating)
KSC Educational Society                 LT – Non-Fund Based   ICRA B+      23.2    -
(Issuer not cooperating)
Mudrakshi Hytech India Pvt Ltd          LT - Fund Based/CC    ICRA BB      60      -
(Issuer not cooperating)
Mudrakshi Hytech India Pvt Ltd          LT - Fund Based/TL    ICRA BB      107.5   -
(Issuer not cooperating)
Ongc Mangalore Petrochemicals           Fund Based - Working  ICRA AA+&    7500    Reaffirmed
Ltd                                     Capital Fac (CC)
&: Under rating watch with developing implications
Pyrotech Electronics Pvt Ltd            Fund based – CC       ICRA BBB     510     Upgrade from
                                                                                   ICRA BBB-
Pyrotech Electronics Pvt Ltd            Fund based – TL       ICRA BBB     89.4    Upgrade from
                                                                                   ICRA BBB-
Pyrotech Electronics Pvt Ltd            Non-fund Based – BG   ICRA BBB     360     Upgrade from
                                                                                   ICRA BBB-
Pyrotech Electronics Pvt Ltd            Non-fund Based – LOC  ICRA BBB     70      Upgrade from
                                                                                   ICRA BBB-
Pyrotech Electronics Pvt Ltd            Unallocated           ICRA BBB     170.6   Upgrade from
                                                                                   ICRA BBB-
R.V. Rayanam                            FB- Secured Overdraft ICRA B+      100     -
Issuer delayed in giving information
R.V. Rayanam                            Non FB- BG            ICRA B+      150     -
Issuer delayed in giving information
Raj Events And Entertainment            LT - Fund Based/CC    ICRA BB+     265     -
Pvt Ltd
(Issuer not cooperating)
Rd T.M.T Steels (India) Pvt Ltd         LT, Fundbased Fac     ICRA BB-     120     upgraded
                                                                                   from ICRA B+
Removed from (Issuer not cooperating) category
Rd T.M.T Steels (India) Pvt Ltd         LT, Unallocated       ICRA BB-     60      upgraded
                                        facilitie                                  from ICRA B+
Removed from (Issuer not cooperating) category
Rubber Matters Pvt Ltd                  LT, FB – TL           ICRA B       133.8   Assigned
Rubber Matters Pvt Ltd                  LT, FB – CC           ICRA B       20      Assigned
Rubber Matters Pvt Ltd                  LT – Unallocated      ICRA B       0.2     Assigned
Seth Roshan Lal Jain Trust              FB Limits             ICRA BBB     250     -
(Issuer not cooperating)
Sri Sai Baba Agro Tech                  LT- FB Limits         ICRA B+      64.8    -
Review process is underway
Sri Sai Baba Agro Tech                  LT- Unallocated LimitsICRA B+      5.2     -
Review process is underway
Stefina Ceramic Pvt. Ltd.               FB- Cash Credi        ICRA B       30      -
(Issuer not cooperating)
Stefina Ceramic Pvt. Ltd.               FB- TL                ICRA B       41.2    -
(Issuer not cooperating)
Stefina Ceramic Pvt. Ltd.               Unallocated limits    ICRA B       12.4    -
(Issuer not cooperating)
Vivriti Capital Pvt Ltd                 Bk Loans              ICRA A-      6000    Assigned
Vivriti Capital Pvt Ltd                 NCDs (NCD)            ICRA A-      4000    Assigned
--------------------------------------------------------------------------------------------
$: 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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