January 28, 2019 / 11:15 AM / 6 months ago

ICRA ratings for Indian debt instruments-Jan 28

    Jan 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 25, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aspire Home Finance                     CP Programme          ICRA A1+     10000   outstanding
Corporation Ltd
Bharat Kolkata Container                CP                    ICRA A1      -       Withdrawn
Terminals Pvt Ltd
Ganesha Ecosphere Ltd                   ST FB Limits          -            -       -
Ganesha Ecosphere Ltd                   ST Non-fund Based     ICRA A1      235     Upgraded
                                        (NFB) Limits                               from ICRA A2+
Kotak Commodity Services Pvt            ST Bk Lines           ICRA A1+     2500    Reaffirmed
Ltd
Kotak Commodity Services Pvt            CP Programme          ICRA A1+     2000    Reaffirmed
Ltd
Kyungshin Industrial Motherson          Non-FBL               ICRA A1+     50      Reaffirmed
Pvt Ltd
Kyungshin Industrial Motherson          CP                    ICRA A1+     50      Reaffirmed
Pvt Ltd
Laxveer Ceramic Llp                     Non-Fund Based - BG   ICRA A4      30      Withdrawn
Network18 Media & Investments           CP Programme          ICRA A1+     15000   outstanding
Ltd
Rspl Ltd                                Non-fund based, ST FacICRA A1+     4804    Reaffirmed
Rspl Ltd                                CP programme          ICRA A1+     4000    Reaffirmed
Sar Senapati Santaji Ghorpade           Unallocated           ICRA A4      110.3   Withdrawn
Sugar Factory Ltd
Swiss Glascoat Equipments Ltd           Non-FBL               ICRA A2 &    192.2
& Rating placed on watch with developing implications
Tv18 Broadcast Ltd                      CP Programme          ICRA A1+     7500    outstanding
LONG TERM RATINGS:
-------------------
Aspire Home Finance                     Bk Lines Programme    ICRA A+      30000   outstanding
Corporation Ltd
Aspire Home Finance                     NCD Programme         ICRA A+      19000   outstanding
Corporation Ltd
Aspire Home Finance                     Subordinated Debt     ICRA A+      1000    outstanding
Corporation Ltd                         Programme
Aspire Home Finance                     Market Linked         PP-MLDICRA   1000    outstanding
Corporation Ltd                         Debenture Programme   A+
Aspire Home Finance                     Market Linked         PP-MLDICRA   3000    outstanding
Corporation Ltd                         Debenture Programme   A+
Aspire Home Finance                     NCD                   Provisional  3000    Assigned
Corporation Ltd                                               ICRA AA(SO)
Bhalara Cotton Pvt Ltd                  FB – CC               ICRA D       220     Reassigned
                                                                                   from ICRA B
(Issuer Not Cooperating)
Bharat Kolkata Container                TL                    ICRA A       500     Reaffirmed
Terminals Pvt Ltd
Bharat Kolkata Container                LT unallocated        ICRA A       600     Reaffirmed
Terminals Pvt Ltd
Bharat Kolkata Container                LT/ST non-fund based  ICRA A/ICRA  500     Reaffirmed
Terminals Pvt Ltd                                             A1
Bharat Kolkata Container                LT/ST non-fund based^ ICRA A/ICRA  0       Reaffirmed
Terminals Pvt Ltd                                             A1
 ^ Sub-limits 
Bharti Axa Life Insurance Co.           Subordinated debt     ICRA AA-     800     Reaffirmed
Ltd                                     programme
Children’S Education Society            FB TL                 ICRA BBB-    1600    Upgraded
                                                                                   from ICRA BB+
Children’S Education Society            FB Working Capital FacICRA BBB-    100     Upgraded
                                                                                   from ICRA BB+
Concord Biotech Ltd                     LT FB (Proposed)      ICRA AA-     750     Assigned
Dabur India Ltd                         NCD Programme         ICRA AAA     150     Reaffirmed
Divya Cotton                            FB - TL               ICRA D       1.2     Reassigned
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Divya Cotton                            FB - CC               ICRA D       60      Reassigned
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Ganesha Ecosphere Ltd                   FB (FB) Working       ICRA A       1250    Upgraded
                                        Capital                                    from ICRA A-
Ganesha Ecosphere Ltd                   FB TL Fac             ICRA A       109.3   Upgraded
                                                                                   from ICRA A-
Ganesha Ecosphere Ltd                   LT/ST Interchangeable ICRA A/ICRA  -       Upgraded
                                                              A1                   from ICRA A-
                                                                                   /ICRA A2+
Ganesha Ecosphere Ltd                   LT/ST Unallocated     ICRA A/ICRA  535.7   Upgraded
                                                              A1                   from ICRA A-
                                                                                   /ICRA A2+
Krn Alloys Pvt Ltd                      CC                    ICRA B-      83
(Issuer Not Cooperating)
Krn Alloys Pvt Ltd                      Unallocated           ICRA B-      27.6
(Issuer Not Cooperating)
Kyungshin Industrial Motherson          FB Limits             ICRA AA      150     Reaffirmed
Pvt Ltd
Kyungshin Industrial Motherson          Unallocated           ICRA AA      367.4   Reaffirmed
Pvt Ltd
Laxveer Ceramic Llp                     Fund based- CC        ICRA B+      80      Withdrawn
Laxveer Ceramic Llp                     Fund based- TL        ICRA B+      170     Withdrawn
Manappuram Finance Ltd                  NCD Programme         ICRA AA-     2701.2
Reason for delay in carrying out periodic review: - Review process is underway
Mony Prints Pvt. Ltd.                   Fund based- CC        ICRA B       39.5    Withdrawn
(Issuer Not Cooperating)
Mony Prints Pvt. Ltd.                   Fund based- TL        ICRA B       100.5   Withdrawn
(Issuer Not Cooperating)
Network18 Media & Investments           LT Borrowing          ICRA AAA     10000   Assigned
Ltd                                     Programme (Bk Loan
                                        / NCD Programme)
Network18 Media & Investments           LT / ST, FB / Non-FB  ICRA AAA /   5000    outstanding
Ltd                                     Fac                   ICRA A1+
Neyveli Uttar Pradesh Power Ltd         LT, TL                ICRA BBB+    110670  Reaffirmed
Neyveli Uttar Pradesh Power Ltd         LT, Unallocated Fac   ICRA BBB+    10000   Reaffirmed
Omkar Infratech Ltd                     FB limits             ICRA B       80
(Issuer Not Cooperating)
Paras Foods                             CC                    ICRA D       80      Downgraded
                                                                                   from ICRA B
(Issuer Not Cooperating)
Prl Developers Pvt Ltd                  TL LT/ST - FB         ICRA BBB     6000    Reaffirmed
Purnam                                  FBL – TL              ICRA B       127.5
Rating continues to remain under ‘(Issuer Not Cooperating)
Purnam                                  FBL – CC              ICRA B       8
Rating continues to remain under ‘(Issuer Not Cooperating)
Reliance Home Finance Ltd-              PTC Series A          Provisional  1399.4  Assigned
Indian Receivable Trust 2019                                  ICRA AAA(SO)
Series 1
Rspl Ltd                                NCD Programme         ICRA AA-     3000    rating
                                                                                   revised from
                                                                                   ICRA AA
Rspl Ltd                                Fund based, LT Fac    ICRA AA-     5990    revised from
                                                                                   ICRA AA
Rspl Ltd                                TL                    ICRA AA-     27710   revised from
                                                                                   ICRA AA
Rspl Ltd                                Proposed TL           ICRA AA-     2150    revised from
                                                                                   ICRA AA
Sar Senapati Santaji Ghorpade           FB- TL                ICRA B       1270.2  Reaffirmed
Sugar Factory Ltd
Removed from “(Issuer Not Cooperating)
Sar Senapati Santaji Ghorpade           FB- CC                ICRA B       970     Reaffirmed
Sugar Factory Ltd
Removed from “(Issuer Not Cooperating)
Shri Ganesh Industries                  Fund basedCC          ICRA B+      60
Rating moved to the ‘(Issuer Not Cooperating)
Shri Ganesh Industries                  Unallocated           ICRA B+      40
Rating moved to the ‘(Issuer Not Cooperating)
Soma Nutrition Labs Pvt Ltd             Fund Based –          ICRA D       20      Reassigned
                                        Overdraft CC                               from ICRA B+
(Issuer Not Cooperating)
Soma Nutrition Labs Pvt Ltd             Fund Based – TL       ICRA D       80      Reassigned
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Soma Nutrition Labs Pvt Ltd             Fund Based – S/L EPC  ICRA D       -       Reassigned
                                                                                   from ICRA B+
(Issuer Not Cooperating)
Surya Vikas Plywood Ltd                 FB                    ICRA D       475.4   Downgraded
                                                                                   from ICRA B-
(Issuer Not Cooperating)
Surya Vikas Plywood Ltd                 Unallocated Fundbased ICRA D       24.6    Downgraded
                                                                                   from ICRA B-
                                                                                   /A4
(Issuer Not Cooperating)
Swiss Glascoat Equipments Ltd           FB limits             ICRA BBB+ &  200
&Rating placed on watch with developing implications
Talwalkars Better Value                 Long-TL               ICRA AA-(S)  -       Withdrawn
Fitness Ltd
Talwalkars Better Value                 Proposed NCD ProgrammeICRA AA-(S)  -       Withdrawn
Fitness Ltd
Talwalkars Better Value                 NCD Programme         ICRA AA-(S)  800     outstanding
Fitness Ltd
Tv18 Broadcast Ltd                      LT / ST, FB / Non-FB  ICRA AAA /   7500    Assigned
                                        Fac                   ICRA A1+
Zensar Technologies Ltd                 LT/ST -               ICRA         1910    Reaffirmed
                                        fundbased/non-fund    AA+/ICRA A1+
                                        based
--------------------------------------------------------------------------------------------
$: 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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