July 10, 2018 / 10:58 AM / in 4 months

ICRA ratings for Indian debt instruments-Jul 10

   Jul 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 9, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Altico Capital India Ltd                CP Programme          ICRA A1+     5000    Reaffirmed
Caspian Impact Investments Pvt          Fund based -          ICRA A2+     200     Reaffirmed
Ltd                                     Working Capital Fac   (SO)
Intech Organics Ltd                     Non-fund Based -      ICRA A3      195     upgraded
                                        Working Capital Fac                        from ICRA A4+
Mangalam Rice Mill Pvt Ltd              Non-FB limit          ICRA A4              -
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
N.A. Construction Pvt. Ltd.             Non-FBL               ICRA A3      891.2   Assigned
R.V. Plastic Ltd                        NFBL                  ICRA A4      60      -
Seaga India Pvt Ltd                     NFBL                  ICRA A4      20      -
Reason for delay in carrying out periodic review
- (ISSUER NOT COOPERATING)
Shree Nakoda Global Ltd                 Non-FBL               ICRA A4      140     Reaffirmed
Shree Nakoda Ispat Ltd.                 Non-FBL               ICRA A4      592     Removed from
                                                                                   Issuer
                                                                                   Non-
                                                                                   cooperating
                                                                                   category’
                                                                                   and Withdrawn
Shree Nakoda Ispat Ltd.                 Non-FBL – Unallocated ICRA A4      3.2     Removed from
                                                                                   Issuer
                                                                                   Non-
                                                                                   cooperating
                                                                                   category’
                                                                                   and Withdrawn
Tata Steel Ltd                          CP                    ICRA A1+     60000   outstanding
Tata Steel Ltd                          CP                    ICRA A1+     90000   Assigned
The Icfai University Jharkhand          Short-TL              ICRA A1(SO)  100     Assigned
The Icfai University Meghalaya          ST Loan               ICRA A1(SO)  100     Assigned
The Icfai University Mizoram            ST Loan               ICRA A1(SO)  100     Assigned
The Icfai University Nagaland           ST Loan               ICRA A1(SO)  100     Assigned
The Icfai University Raipur             ST Loan               ICRA A1(SO)  100     Assigned

LONG TERM RATINGS:
-------------------
Caspian Impact Investments Pvt          NCD Programme         ICRA BBB     800     Assigned
Ltd
Caspian Impact Investments Pvt          NCD Programme         ICRA BBB     800     Reaffirmed
Ltd
Caspian Impact Investments Pvt          Fund based - TL       ICRA BBB     900     Reaffirmed
Ltd
Clean Wind Power (Devgarh) Pvt          FB -TL                ICRA A-      6910    Assigned
Ltd
Clean Wind Power (Devgarh) Pvt          FB - Working Capital  ICRA A-      450     outstanding
Ltd                                     Fac        
Intech Organics Ltd                     Fund Based - Working  ICRA BBB-    55      Upgraded
                                        Capital Fac                                from ICRA BB+
Intech Organics Ltd                     Fund Based - TL       ICRA BBB-    50      Upgraded
                                                                                   from ICRA BB+
LMJ International Ltd                   FBL                   ICRA D       1737    Downgraded
                                                                                   from ICRA
                                                                                   BBB/ ICRA A3+
                                                                                   and continues
                                                                                   to remain 
                                                                                   under
                                                                                   Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   category
LMJ International Ltd                   Non-FBL               ICRA D       3300    Downgraded
                                                                                   from ICRA
                                                                                   A3+ 
                                                                                   and continues
                                                                                   to remain 
                                                                                   under
                                                                                   Issuer
                                                                                   Not
                                                                                   Cooperating
                                                                                   category
LMJ International Ltd                   Unallocated Limits    ICRA D       430     Downgraded
                                                                                   from ICRA
                                                                                   A3+ 
                                                                                   and continues
                                                                                   to remain 
                                                                                   under
                                                                                   Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   category
M.G. Contractors Pvt. Ltd.              Proposed - Non-FBL    -            -       -
M.G. Contractors Pvt. Ltd.              FB                    ICRA BBB+    550     Reaffirmed
M.G. Contractors Pvt. Ltd.              Non-fund Based        ICRA BBB+    5720    Reaffirmed
Mangalam Rice Mill Pvt Ltd              FB – TL               ICRA BB-             -
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Mangalam Rice Mill Pvt Ltd              FB – CC               ICRA BB-             -
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Mangalam Rice Mill Pvt Ltd              Unallocated limits    ICRA BB-             -
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
N.A. Construction Pvt. Ltd.             FBL                   ICRA BBB-    142.5   Assigned
Prahlad Flour Mills (P) Ltd.            LT - Fund Based/ CC   ICRA BB      107.5   -
(ISSUER NOT COOPERATING)
Prahlad Flour Mills (P) Ltd.            LT - Fund Based TL    ICRA BB      15      -
(ISSUER NOT COOPERATING)
R.V. Plastic Ltd                        Fund Based- CC        ICRA BB-     100     -
S.P. Sortex Rice Exports India          FB Limits             ICRA BB-     172     -
Ltd
Reason for delay in carrying out periodic review
- (ISSUER NOT COOPERATING)
S.P. Sortex Rice Exports India          Unallocated           ICRA BB-     8       -
Ltd
Reason for delay in carrying out periodic review
- (ISSUER NOT COOPERATING)
Seaga India Pvt Ltd                     Fund Based- CC        ICRA B+      80      -
Reason for delay in carrying out periodic review
- (ISSUER NOT COOPERATING)
Shalibhadra Finance Ltd                 Fund based - CC       ICRA BBB-    300     Reaffirmed
Shree Nakoda Global Ltd                 FB Limits (CC)        ICRA B       10      Reaffirmed
Shree Nakoda Ispat Ltd.                 TL                    ICRA B+      2185    Removed from
                                                                                   Issuer
                                                                                   Not
                                                                                   Cooperating
                                                                                   category
                                                                                   Withdrawn
Shree Nakoda Ispat Ltd.                 FB Limits             ICRA B+      481.9   Removed from
                                                                                   Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   category
                                                                                   Withdrawn
The ICFAI University Jharkhand          Overdraft             ICRA A(SO)   16.5    Assigned
The ICFAI University Meghalaya          Overdraft             ICRA A(SO)   8.5     Assigned
The ICFAI University Mizoram            Overdraft             ICRA A(SO)   20      Assigned
The ICFAI University Nagaland           Overdraft             ICRA A(SO)   11      Assigned
The ICFAI University Raipur             Overdraft             ICRA A(SO)   15      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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