June 12, 2019 / 11:15 AM / a month ago

ICRA ratings for Indian debt instruments-Jun 12

    Jun 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 11, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ipl Products                            ST – FB               ICRA A4      10      Withdrawn
Ipl Products                            ST – Non FB           ICRA A4      47.5    Withdrawn
Jbm Auto Ltd                            NFBL                  ICRA A3+ &   545     Withdrawn
&-On Rating Watch with Developing Implications
Shekar Logistics Pvt Ltd:               ST: Non-fund Based- BGICRA A4      30      Assigned
Src Chemicals Pvt Ltd                   ST fund based         ICRA A3      150     Reaffirmed
(removed from Issuer Not cooperating category)
Src Chemicals Pvt Ltd                   ST non-fund based     ICRA A3      600     Reaffirmed
(removed from Issuer Not cooperating category)
Src Chemicals Pvt Ltd                   ST – Interchangeable  ICRA A3      -       Reaffirmed
(removed from Issuer Not cooperating category)

LONG TERM RATINGS:
-------------------
Arunachal Tea & Industries              Fund based working    ICRA BBB-    36      Reaffirmed
Pvt. Ltd.                               capital Limits
Arunachal Tea & Industries              Unallocated limits    ICRA BBB-    63.1    Reaffirmed
Pvt. Ltd.
City Realty And Development             Unallocated limits    -            -       -
Pvt. Ltd.
City Realty And Development             LT: TL                Provisional  2500    outstanding
Pvt. Ltd.                                                     ICRA BBB(SO)
Ethelwold Estate Pvt. Ltd.              Fund based working    ICRA BBB-    85.4    Reaffirmed
                                        capital Limits
Ethelwold Estate Pvt. Ltd.              Unallocated limits    ICRA BBB-    14.6    Reaffirmed
Hero Solar Energy Pvt Ltd               NCD Programme (NCD)   ICRA A+      1750    Reaffirmed
Hero Solar Energy Pvt Ltd               Proposed NCD          ICRA A+      3000    Assigned
Hero Solar Energy Pvt Ltd               Medium TL             ICRA A+      2000    Assigned
Hero Wind Energy Pvt. Ltd.              NCD Programme (NCD)   ICRA A+      3150    Reaffirmed
Hero Wind Energy Pvt. Ltd.              Proposed NCD -        ICRA A+      2500    Assigned
Ipl Products                            LT – FB / CC          ICRA B+      70      Withdrawn
Jai Durga Oil Extraction Pvt            Bk Fac                ICRA BB      150     -
Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Jbm Auto Ltd                            TL                    ICRA BBB &   553.1   Withdrawn
&-On Rating Watch with Developing Implications
Jbm Auto Ltd                            Unallocated           ICRA BBB &   5.6     Withdrawn
&-On Rating Watch with Developing Implications
Jbm Auto Ltd                            CC/WCDL               ICRA BBB &/  1147.5  Withdrawn
                                                              ICRA A3+&
&-On Rating Watch with Developing Implications
Jbm Auto Ltd                            Fund based & NFBL     ICRA BBB &/  1992.5  Withdrawn
                                                              ICRA A3+&
&-On Rating Watch with Developing Implications
Jbm Auto Ltd                            Fund Based/Non-Fund   ICRA BBB &/  -       Withdrawn
                                        Based sub-limits^     ICRA A3+&
&-On Rating Watch with Developing Implications/^Sub-limits of other working capital facilities
Limbuguri Tea Estate Pvt. Ltd.          Fund based working    ICRA BBB-    49.3    Reaffirmed
                                        capital Limits
Limbuguri Tea Estate Pvt. Ltd.          Unallocated limits    ICRA BBB-    50.7    Reaffirmed
Novus Green Energy Systems Ltd          FB Fac                ICRA BB+     170     Withdrawn
(Formerly Novus Green Energy
Systems (P) Ltd)
Novus Green Energy Systems Ltd          Non FB Fac            ICRA BB+     310     Withdrawn
(Formerly Novus Green Energy
Systems (P) Ltd)
Novus Green Energy Systems Ltd          Unallocated Fac       ICRA BB+     20      Withdrawn
(Formerly Novus Green Energy
Systems (P) Ltd)
Om Associates                           Bk Fac                ICRA BB-     200
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shekar Logistics Pvt Ltd:               LT: FB -TL            ICRA B+      80      Assigned
Shekar Logistics Pvt Ltd:               LT: FB - Working      ICRA B+      140     Assigned
                                        Capital Fac
Src Chemicals Pvt Ltd                   LT Fund Based – CC    ICRA BBB-    200     Reaffirmed
(removed from Issuer Not cooperating category)
Src Chemicals Pvt Ltd                   LT/ST unallocated     ICRA         0       Reaffirmed
                                                              BBB-/ICRA A3
(removed from Issuer Not cooperating category)
--------------------------------------------------------------------------------------------
$: 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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