January 24, 2018 / 10:31 AM / 4 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, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
IIFL Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
IIFL Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     20000   Outstanding
                                        financing)
IIFL Wealth Finance Ltd                 CP programme          ICRA A1+     50000   Outstanding
Magnam Netlink Pvt Ltd                  Non FB – BG           ICRA A4+     270     Reaffirmed

LONG TERM RATINGS:
-------------------
High Point Properties Pvt Ltd           NCD Programme         ICRA AA(SO)  4250    Reaffirmed
Hiranandani Healthcare Pvt Ltd          TL                    ICRA A+      429.8   Reaffirmed
                                                              (SO)#
Hiranandani Healthcare Pvt Ltd          Overdraft             ICRA A+      30      Reaffirmed
                                                              (SO)#
Hiranandani Healthcare Pvt Ltd          Non-funds-based LimitsICRA A+      0.2     Reaffirmed
                                                              (SO) #
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   2000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   25500   Outstanding
                                        protected market      AA
                                        linked debenture programme
Jai Maakali Fish Farms Pvt Ltd          NDS                   ICRA B-      -       -
Removed from the ‘ISSUER NOT COOPERATING
Janalakshmi Financial Services          PTC Series A1         ICRA D(SO)   -       Downgraded
Ltd- Napoleon Ifmr Capital 2016                                                    from ICRA
                                                                                   C+(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA D(SO)   -       Downgraded
Ltd- Napoleon Ifmr Capital 2016                                                    from ICRA
                                                                                   C-(SO)
Ksk Mahanadi Power Co. Ltd              Fund based - TL       ICRA D       129520  Reaffirmed
Ksk Mahanadi Power Co. Ltd              Fund based - CC       ICRA D       11200   Reaffirmed
Ksk Mahanadi Power Co. Ltd              Non-fund based        ICRA D       8570    Reaffirmed
                                        facility
Ksk Mahanadi Power Co. Ltd              Non-fund based        ICRA D       7730    Reaffirmed
                                        facility
Madhucon Sugar And Power                Fund Based – TL       ICRA D       212.9   Downgraded
Industries Ltd                                                                     from ICRA B+
Madhucon Sugar And Power                Fund Based – CC       ICRA D       988.9   Downgraded
Industries Ltd                                                                     from ICRA B+
Madhucon Sugar And Power                Unallocated Limits    ICRA D       379     Downgraded
Industries Ltd                                                                     from ICRA B+
Magnam Netlink Pvt Ltd                  Unallocated Limits    -            -       Reaffirmed
Magnam Netlink Pvt Ltd                  FB – CC               ICRA BB      30      Reaffirmed
Rai Bahadur Raghbir Singh               Fund based-TL         ICRA B+      154.1   Reaffirmed
Educational Society
Saya Automobiles Ltd                    Fund Based - Working  ICRA BB-     550     Assigned
                                        Capital Fac
Sunny View Estates Pvt Ltd              NCD Programme         ICRA AA(SO)  1500    Outstanding
Sunny View Estates Pvt Ltd              NCD Programme         Prov ICRA    2000    Assigned
                                                              AA(SO)
Swaraj India Industries Ltd             LT - Fund Based – CC  ICRA BBB     125     Assigned
Vipul Industries Pvt Ltd                Unallocated Limit     -            -       -
Vipul Industries Pvt Ltd                FB – TL               ICRA BB      10.9    Revised from
                                                                                   ICRA BB+
Removed from ‘Issuer Not Co-operating’ category
Vipul Industries Pvt Ltd                FB – Working Capital  ICRA BB      35.7    Revised from
                                        Loan                                       ICRA BB+
Removed from ‘Issuer Not Co-operating’ category
Vipul Industries Pvt Ltd                FB – Overdraft        ICRA BB      99      Revised from
                                                                                   ICRA BB+
Removed from ‘Issuer Not Co-operating’ 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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