July 4, 2019 / 11:07 AM / 16 days ago

ICRA ratings for Indian debt instruments-Jul 4

   Jul 4 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 3, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
AVG Motors Ltd                          ST – Fund based       ICRA A2      20      Reaffirmed
Bharti Infratel Ltd                     CP                    ICRA A1+     60000   Assigned
Clininvent Research Pvt. Ltd.           FBL                   ICRA A1(SO)  101     Assigned
Power Grid Corporation Of               CP                    ICRA A1+     60000   Outstanding
India Ltd
Power Grid Corporation Of               ST borrowing programmeICRA A1+     60000   Outstanding
India Ltd
Power Grid Corporation Of               ST non-FBL            ICRA A1+     22000   Outstanding
India Ltd
Sharekhan Bnp Paribas                   CP Programme (IPO     ICRA A1+     20000   Assigned
Financial Services Ltd                  Financing)
Sharekhan Bnp Paribas                   CP Programme          ICRA A1+     10000   Reaffirmed
Financial Services Ltd
Sharekhan Ltd                           CP Programme          ICRA A1+     5000    Reaffirmed


LONG TERM RATINGS:
-------------------
Archies Ltd                             Non-fund Based        ICRA BBB     30      Reaffirmed
Archies Ltd                             Fund Based/CC         ICRA BBB     300     Reaffirmed
AVG Motors Ltd                          LT – FB               ICRA BBB+    134     -
AVG Motors Ltd                          LT/ST - Unallocated   ICRA BBB+ /  35.7    Reaffirmed
                                                              ICRA A2
Clininvent Research Pvt. Ltd.           TL                    ICRA A (SO)  344.8   Assigned
Five-Star Business Finance Ltd          PTC Series A1         Provisional  983.5   Assigned
-Vivriti Athena 06 2019                                       ICRA AA-(SO)
Power Grid Corporation Of               LT bonds programme    ICRA AAA     1164229.Outstanding
India Ltd
Power Grid Corporation Of               Working capital loan  ICRA AAA     3000    Outstanding
India Ltd
Power Grid Corporation Of               LT loans              ICRA AAA     453562.2Outstanding
India Ltd
Siddhivinayak Poultry Breeding          FB -TL                ICRA BB      100     Assigned
Farm And Hatcheries Pvt. Ltd
Siddhivinayak Poultry Breeding          FB - Working Capital  ICRA BB      150     Assigned
Farm And Hatcheries Pvt. Ltd            Fac
SKM Steels Ltd                          BLR                   ICRA BBB /A2 4300    -
VE Commercial Vehicles Ltd              FB – Working Capital  ICRA AA+     4250    Reaffirmed
                                        Fac                   /ICRA A1+
VE Commercial Vehicles Ltd              Non-fund Based –      ICRA AA+     420     Reaffirmed
                                        Working Capital Fac   /ICRA A1+
VE Commercial Vehicles Ltd              FB/Non-fund Based –   ICRA AA+     2350    Reaffirmed
                                        Working Capital Fac   /ICRA A1+
VE Commercial Vehicles Ltd              Unallocated Limits    ICRA AA+     500     Reaffirmed
                                                              /ICRA A1+
--------------------------------------------------------------------------------------------
$: 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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