January 9, 2018 / 10:37 AM / 9 days ago

ICRA ratings for Indian debt instruments-Jan 9

    Jan 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 8, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Afcons Infrastructure Ltd               Fund based – ST loans ICRA A1+     7500    Reaffirmed
Afcons Infrastructure Ltd               Non-fund based -      ICRA A1+     12000   Reaffirmed
                                        BG/LC (ST)
Afcons Infrastructure Ltd               CP                    ICRA A1+     9000    Reaffirmed
Amaravathi Textiles Pvt Ltd             Non FB Limits         ICRA A3+     91.6    Reaffirmed
Emerald Jewel Industry India            Non-FB Fac            ICRA A2+     1175    Reaffirmed
Ltd
Emerald Jewel Industry India            ST: Sub-limits of FBL ICRA A2+             Withdrawn
Ltd                                     (Gold Metal loans /
                                        WCDL)
Emerald Jewel Industry India            ST: Gold Metal loans  ICRA A2+     2140    Withdrawn
Ltd                                     / WCDL
Godrej Industries Ltd                   Fund based-ST Loans   ICRA A1+     2000    Reaffirmed
Godrej Industries Ltd                   Non-fund              ICRA A1+     6000    Reaffirmed
                                        based-Working Capital
                                        Fac
Godrej Industries Ltd                   ST Debt/CP Programme^ ICRA A1+     600     Reaffirmed
^earmarking above mentioned fund-based working capital facilities
Godrej Industries Ltd                   ST Debt/CP Programme  ICRA A1+     9400    Reaffirmed
                                        (Standalone)
Hill Stone Ceramic Pvt Ltd              BG                    ICRA A4      11      Reaffirmed
Review process is underway
Indostar Home Finance Pvt Ltd           CP                    ICRA A1+     2000    Assigned
Kandhari Beverages Pvt Ltd              NFBL                  ICRA A1      100     Reaffirmed
Limitorque India Ltd                    ST: NFBL              ICRA A4      21
Review process is underway
Manbhum Ispat Pvt Ltd                   Non FB Limits         ICRA A3+     15      Withdrawn
Issuer not cooperating
Manoj Vaibhav Gems 'N'                  Working Capital TL    ICRA A3+             Withdrawn
Jewellers Pvt Ltd (Erstwhile
Vaibhav Empire Pvt Ltd)
Master Capital Services Ltd             ST-Non fund based Bk  ICRA A2      1000
                                        lines
Review under process
Oriental Hotels Ltd                     ST non-fund based –   ICRA A1              Reaffirmed
                                        sub limit
Pashupati Cotton Industries             Non-fund Based- BG    ICRA A4      5       Withdrawn
Quess Corp Ltd                          ST FBL                ICRA A1+     80      Reaffirmed
Quess Corp Ltd                          ST Non-FBL            ICRA A1+     2320    Reaffirmed
Quess Corp Ltd                          CP                    ICRA A1+     2000    Reaffirmed
Rama Cylinders Pvt Ltd                  Non-FBL               ICRA A3+     542.5   Reaffirmed
Rane (Madras) Ltd                       ST non-fund based     ICRA A1      240     Reaffirmed
Rane (Madras) Ltd                       ST non-fund based –   ICRA A1              Reaffirmed
                                        sub limit
Rane (Madras) Ltd                       ST proposed Fac       ICRA A1      120     Reaffirmed
Rane (Madras) Ltd                       CP                    ICRA A1      400     Reaffirmed
Sabri Food Products Pvt Ltd             Packing Credit        ICRA A4+     100     Assigned
Sabri Food Products Pvt Ltd             Foreign Bill Purchase ICRA A4+     100     Assigned
Sepal Ceramic                           BG                    ICRA A4      7
Review under process
Synechron Technologies Pvt Ltd          FB Fac                ICRA A1              Reaffirmed
Synechron Technologies Pvt Ltd          Non-FB Fac            ICRA A1              Reaffirmed
Tata Consulting Engineers Ltd           ST, Non-FB Fac        ICRA A1+     2700    Reaffirmed
Tata Consulting Engineers Ltd           ST Unallocated Fac    ICRA A1+     10      Reaffirmed
Veljan Hydrair Ltd                      BG                    ICRA A3      280     Assigned
Veljan Hydrair Ltd                      LOC                   ICRA A3      20      Assigned
Vitromed Healthcare                     BG                    ICRA A4+     40
Review under process
Wheels India Ltd                        ST -Non-FB Fac        ICRA A1+     1500    Reaffirmed
Wheels India Ltd                        CP                    ICRA A1+     500     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Godrej Industries Ltd                   Public Deposits       MAA+                 Withdrawn
                                        Programme
Wheels India Ltd                        Medium Term: Fixed    MA+          1500    Reaffirmed
                                        deposit


LONG TERM RATINGS:
-------------------
Afcons Infrastructure Ltd               NCD                   ICRA AA      4000    Reaffirmed
Afcons Infrastructure Ltd               Fund based - TL       ICRA AA      8000    Reaffirmed
Afcons Infrastructure Ltd               Fund based - CC (LT)  ICRA AA      14000   Reaffirmed
Afcons Infrastructure Ltd               Non-fund based -      ICRA AA      108500  Reaffirmed
                                        BG/LC (LT)
Amaravathi Textiles Pvt Ltd             TL                    ICRA BBB     1357    Reaffirmed
Amaravathi Textiles Pvt Ltd             Working-capital       ICRA BBB     895     Reaffirmed
                                        Fundbased Limits
Amaravathi Textiles Pvt Ltd             Unallocated Limits    ICRA BBB/    170     Reaffirmed
                                                              A3+
Dandona Finance Ltd                     Fund based – working  ICRA BB      370     Reaffirmed
                                        capital Fac
Dandona Finance Ltd                     Unallocated           ICRA BB      80      Reaffirmed
Dharmanandan Diamonds Pvt Ltd           Fund based - Export   ICRA A /A1   13981.6 Reaffirmed
                                        Packing Credit/ Post
                                        Shipment Credit
Dharmanandan Diamonds Pvt Ltd           Unallocated - Limits  ICRA A /A1   2268.4  Reaffirmed
Diamond India Ltd                       Bk Loans              ICRA BBB     2000
Review process is underway
Emerald Jewel Industry India            Fund based-TL         ICRA A-      404.2   Reaffirmed
Ltd
Emerald Jewel Industry India            Fund based- Working   ICRA A-      1185    Reaffirmed
Ltd                                     Capital Fac
Emerald Jewel Industry India            LT / ST: Fund based   ICRA A- /A2+ 23.2    Withdrawn
Ltd                                     facility
Emerald Jewel Industry India            LT / ST: Unallocated  ICRA A- /A2+ 1270.6  Withdrawn
Ltd
Floreat Investments Ltd                 NCD                   ICRA AA(SO)  2000    Reaffirmed
Galina Consultancy Services             NCD                   ICRA AA(SO)  3000    Reaffirmed
Pvt Ltd
Godrej Industries Ltd                   FB-TL                 ICRA AA      12000   Reaffirmed
Godrej Industries Ltd                   FB-Working Capital    ICRA AA      900     Reaffirmed
                                        Fac
Godrej Industries Ltd                   Non-fund              ICRA AA      500     Reaffirmed
                                        based-Working Capital
                                        Fac
Godrej Industries Ltd                   LT Debt/ NCD ProgrammeICRA AA              Withdrawn
Hill Stone Ceramic Pvt Ltd              CC                    ICRA B+      35      Reaffirmed
Review process is underway
Hill Stone Ceramic Pvt Ltd              TL                    ICRA B+      30.1    Reaffirmed
Review process is underway
Ibd Universal Pvt Ltd                   FBL                   ICRA D       270
Issuer not cooperating
Ibd Universal Pvt Ltd                   Unallocated           ICRA D       270
Issuer not cooperating
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  150     Assigned
Aye Finance Pvt Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  100     Assigned
Ess Kay Fincorp Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  100     Assigned
Essel Finance Business Loan Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  150     Assigned
Kogta Financial (India) Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  100     Assigned
Shri Ram Finance Corporation
Pvt Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  50      Assigned
Western India Transport
Finance Company Pvt Ltd
Ifmr Capital Finance Pvt Ltd-           Loan Fac              ICRA A-(SO)  200     Assigned
Zen Lefin Pvt Ltd (Capital
Float)
Kandhari Beverages Pvt Ltd              TL                    ICRA A       2430.5  Reaffirmed
Kandhari Beverages Pvt Ltd              CC                    ICRA A       669.5   Reaffirmed
Kandhari Beverages Pvt Ltd              Buyer’s Credit        ICRA A       760     Reaffirmed
Kec International Ltd                   FBL                   ICRA AA-     16000   Revised from
                                                                                         A+
Kec International Ltd                   NCD                   ICRA AA-     2500    Revised from
                                                                                         A+
Kec International Ltd                   Non-FBL               ICRA AA-     104000  Revised from
                                                              /A1+                       A+ ,
                                                                                   Reaffirmed
Lasco Lifestyle Ltd.                    Bk Loans              ICRA D       300
Issuer not cooperating
Limitorque India Ltd                    LT: FBL               ICRA B       289
Review process is underway
Mahashakti Polycoat                     Fund based-TL         ICRA B /A4   28.6
Issuer not cooperating
Mahashakti Polycoat                     Fund based-CC         ICRA B /A4   30
Issuer not cooperating
Mahashakti Polycoat                     Unallocated           ICRA B /A4   1.4
Issuer not cooperating
Manbhum Ispat Pvt Ltd                   FB Limits             ICRA BBB     130     Withdrawn
Issuer not cooperating
Manoj Vaibhav Gems 'N'                  Fund based - CC       ICRA BBB     3125    Reaffirmed
Jewellers Pvt Ltd (Erstwhile
Vaibhav Empire Pvt Ltd)
Manoj Vaibhav Gems 'N'                  Fund based - TL       ICRA BBB     28.8    Reaffirmed
Jewellers Pvt Ltd (Erstwhile
Vaibhav Empire Pvt Ltd)
Manoj Vaibhav Gems 'N'                  Unallocated Limits    ICRA BBB     550     Reaffirmed
Jewellers Pvt Ltd (Erstwhile
Vaibhav Empire Pvt Ltd)
Oriental Hotels Ltd                     NCD                   ICRA A+      2000    Reaffirmed
Oriental Hotels Ltd                     LT fund based         ICRA A+      300     Reaffirmed
Oriental Hotels Ltd                     TL                    ICRA A+              Withdrawn
Partap Spinex Pvt Ltd                   LT/ST fund based      ICRA BBB+    883.6   Assigned
                                                              /A2
Partap Spinex Pvt Ltd                   LT/ST non fund based  ICRA BBB+    16.4    Assigned
                                                              /A2
Pashupati Cotton Industries             Fund based- CC        ICRA B       195     Withdrawn
Pashupati Cotton Industries             Fund based- TL        ICRA B       2.8     Withdrawn
Quess Corp Ltd                          LT FBL                ICRA AA-     5000    Reaffirmed
Quess Corp Ltd                          NCD                   ICRA AA-     1500    Reaffirmed
Rama Cylinders Pvt Ltd                  FBL – CC              ICRA BBB     150     Reaffirmed
Rane (Madras) Ltd                       TL                    ICRA A       1400    Reaffirmed
Rane (Madras) Ltd                       LT fund based         ICRA A       1915    Reaffirmed
Rane (Madras) Ltd                       LT proposed           ICRA A               Reaffirmed
Sabri Food Products Pvt Ltd             TL                    ICRA BB      9.1     Assigned
Sabri Food Products Pvt Ltd             Unallocated Limits    ICRA BB /A4+ 0.9     Assigned
Sandeep Rice Mill                       LT- Fund Based        ICRA B       100
Issuer not cooperating
Sepal Ceramic                           CC Limit              ICRA B+      44
Review under process
Sepal Ceramic                           TL                    ICRA B+      30.3
Review under process
Shantol Green Energy (India)            TL                    ICRA D       185
Pvt Ltd
Issuer not cooperating
Shantol Green Energy (India)            CC                    ICRA D       25
Pvt Ltd
Issuer not cooperating
Shapoorji Pallonji Energy               Non-FBL               ICRA AA-     2400    Withdrawn
(Gujarat) Pvt Ltd
Shapoorji Pallonji Energy               NCD                   ICRA AA (SO) 2000    Reaffirmed
(Gujarat) Pvt Ltd
Skaps Industries India Pvt Ltd          BLR                   ICRA BBB+    1982.3
                                                              /A2
Review under process
Spacetech Equipments &                  BLR                   ICRA D       60
Structurals Pvt Ltd
Issuer delayed in giving information
Stelis Biopharma Pvt Ltd                TL                    ICRA A+ (SO) 3800    Assigned
rating watch with developing implication
Synechron Technologies Pvt Ltd          CC                    ICRA A-              Reaffirmed
Tata Consulting Engineers Ltd           Long-TL               ICRA AA      515     Reaffirmed
Tata Consulting Engineers Ltd           LT, FB Fac            ICRA AA      710     Reaffirmed
Tata Consulting Engineers Ltd           Issuer Rating         ICRA AA              Reaffirmed
Tata Consulting Engineers Ltd           STD                   ICRA AA      200     Reaffirmed
The Winning Edge Agro Products          BLR                   ICRA B+      97.5
Issuer not cooperating
Thomas Cook (India) Ltd                 NCD                   ICRA AA      2000    Outstanding
Thomas Cook (India) Ltd                 Redeemable preference ICRA AA-     1250    Withdrawn
                                        share programme
Utkarsh Small Finance Bank              NCD                   ICRA A-      1480    Assigned
Veljan Hydrair Ltd                      CC                    ICRA BBB-    400     Assigned
Veljan Hydrair Ltd                      TL                    ICRA BBB-    135     Assigned
Veljan Hydrair Ltd                      Unallocated           ICRA BBB-    165     Assigned
                                                              /A3
Vitromed Healthcare                     TL                    ICRA BB+     30.3
Review under process
Vitromed Healthcare                     CC                    ICRA BB+     42.5
Review under process
Vitromed Healthcare                     Unallocated           ICRA BB+     0.5
Review under process
Wheels India Ltd                        LT: TL                ICRA A+      850     Reaffirmed
Wheels India Ltd                        LT - FB Fac           ICRA A+      2250    Reaffirmed
Wheels India Ltd                        LT/ST: Unallocated    ICRA A+ /A1+ 650     Reaffirmed


--------------------------------------------------------------------------------------------
$: 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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