July 12, 2019 / 11:09 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 12

 (Repeating to add more ratings)
    Jul 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 11, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aghara Knitwear Pvt. Ltd.               Non-fund Based BG     ICRA A4      1.5     Reaffirmed
Bazargaon Paper & Pulp Mills            Non-fund Based – BG   ICRA A4      5
Pvt Ltd
revised from ICRA D
Canara Bank                             Certificates of       ICRA A1+     -       Withdrawn
                                        Deposit Programme
Dhanuka Agritech Ltd                    Non-fund based –      ICRA A1+ @   333.5
                                        LC/BG
@rating placed under watch with negative implications
Econ Cylinders (P) Ltd                  ST – Non fund based   ICRA A4      5       Assigned
Gerb Vibration Control Systems          BG                    ICRA A4+     140     Reaffirmed
Pvt Ltd
Krifor Industries Pvt Ltd               Non-fund based – LOC  ICRA A4      -
                                        and buyers credit
                                        (Sublimits of TL)
Issuer Not Cooperating; Withdrawn
Parag Milk Foods Ltd                    Non-FB Fac            ICRA A1      1000
Upgraded from ICRA A2+
Rosabella Ceramic Llp                   Non-fund based - BG   ICRA A4      10      Reaffirmed
Removed from “Issuer Not Cooperating” category

LONG TERM RATINGS:
-------------------
Aghara Knitwear Pvt. Ltd.               FB TL                 ICRA B+      29      Reaffirmed
Aghara Knitwear Pvt. Ltd.               FB CC                 ICRA B+      30      Reaffirmed
Aghara Knitwear Pvt. Ltd.               Unallocated limits    ICRA B+ /A4  6.5     Reaffirmed
Baliga Investment Pvt Ltd               LT – FB-CC            ICRA BB      115     Assigned
Baliga Investment Pvt Ltd               LT/ST– Unallocated    ICRA BB      65      Assigned
                                                              /ICRA A4+
Bansal Ispat Udyog                      LT FB – CC            ICRA BB+     150
Issuer Not Cooperating; Withdrawn
Bansal Ispat Udyog                      LT FB – TL            ICRA BB+     21.5
Issuer Not Cooperating; Withdrawn
Bansal Ispat Udyog                      LT- Unallocated LimitsICRA BB+     38.5
Issuer Not Cooperating; Withdrawn
Bazargaon Paper & Pulp Mills            FB – CC               ICRA C+      72.5
Pvt Ltd
revised from ICRA D
Bazargaon Paper & Pulp Mills            Unallocated           ICRA C+ /    22.5
Pvt Ltd                                                       ICRA A4
revised from ICRA D / D
Bhagyalaxmi Dairy Farms Pvt Ltd         Proposed TL facility  ICRA A-      500     Reaffirmed
Bhagyalaxmi Dairy Farms Pvt Ltd         LT unallocated        ICRA A-      100     Reaffirmed
Canara Bank                             Additional Tier-I     ICRA AA-     15000   outstanding
                                        Bonds Programme –     (hyb)
                                        Basel III
Canara Bank                             Tier-II Bonds         ICRA AA+     79000   outstanding
                                        Programme – Basel III (hyb)
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) 2528.6
Finance Co. Ltd- Platinum
Trust January 2019
Provisional confirmed as final
Cholamandalam Investment And            Second Loss Facility  ICRA         125.2
Finance Co. Ltd- Platinum                                     BBB+(SO)
Trust January 2019
Provisional confirmed as final
Dhanuka Agritech Ltd                    Fund based - Working  ICRA AA- @   300
                                        Capital Fac
@rating placed under watch with negative implications
Econ Cylinders (P) Ltd                  LT – Fund based/CC    ICRA BB-     80      Assigned
Econ Cylinders (P) Ltd                  LT – Unallocated      ICRA BB-     15      Assigned
Gemtree Natural Produce Pvt Ltd         FB – CC               ICRA BB-     130
Revised from ICRA BB
Gemtree Natural Produce Pvt Ltd         Unallocated           ICRA BB-     20
Revised from ICRA BB
Kims Al Shifa Healthcare Pvt.           FB – TL               ICRA BB-     592     Assigned
Ltd.
Kims Al Shifa Healthcare Pvt.           FB – CC               ICRA BB-     70      Assigned
Ltd.
Kims Al Shifa Healthcare Pvt.           Non-FBL               ICRA BB-     20      Assigned
Ltd.                                                          /ICRA A4
Kims Al Shifa Healthcare Pvt.           Unallocated Limits    ICRA BB-     68      Assigned
Ltd.                                                          /ICRA A4
Krifor Industries Pvt Ltd               Fund Based – TL       ICRA B+      262.6
Issuer Not Cooperating; Withdrawn
Krifor Industries Pvt Ltd               Fund Based – CC       ICRA B+      200
Issuer Not Cooperating; Withdrawn
Laxmi Civil Engineering                 FB Limit (CC)         ICRA A-      500     Assigned
Services Pvt. Ltd
Laxmi Civil Engineering                 Non-FBL               ICRA A- /    5250    Assigned
Services Pvt. Ltd                                             ICRA A2+
Laxmi Civil Engineering                 FB/ Non-FBL           ICRA A- /    -       outstanding
Services Pvt. Ltd                                             ICRA A2+
Northern Arc Capital Ltd-               PTC Series A1         ICRA A- (SO) 925.4
Northern Arc 2019 Mosec Kree
Provisional confirmed as final
Northern Arc Capital Ltd-               PTC Series A2         ICRA BB-     63.8
Northern Arc 2019 Mosec Kree                                  (SO)
Provisional confirmed as final
Parag Milk Foods Ltd                    FB - TL               ICRA A+      900.4
Upgraded from ICRA A
Parag Milk Foods Ltd                    FB - working capital  ICRA A+      2000
                                        Fac
Upgraded from ICRA A
Prince Marketing                        FBL – TL              ICRA B+      250     Withdrawn
Rosabella Ceramic Llp                   FB - TL               ICRA B       70.8    Reaffirmed
Removed from “Issuer Not Cooperating” category
Rosabella Ceramic Llp                   FB - Working Capital  ICRA B       50      Reaffirmed
                                        Fac
Removed from “Issuer Not Cooperating” category
Shree Developers                        Fund Based – TL       ICRA B+      800     Withdrawn
--------------------------------------------------------------------------------------------
$: 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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