June 13, 2018 / 11:25 AM / 2 months ago

ICRA ratings for Indian debt instruments-Jun 13

   Jun 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 12, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Addica Industries Llp                   Non-fund based BG     ICRA A4      5.5     Assigned
Avni Energy SolUTIons Pvt Ltd           ST – Fund Based       ICRA D       5       -
Rating moved to the ‘(Issuer not cooperating)’ category
Ambey Metallic Pvt Ltd                  Non-fund based        ICRA A4      243.5   Withdrawn
Avni Energy SolUTIons Pvt Ltd           ST – NonFund based    ICRA D       10      -
Rating moved to the ‘(Issuer not cooperating)’ category
Bhagwan Mahaveer Memorial Jain          ST Non-FBL            ICRA A4      5       Reaffirmed
Trust
Govind Cable Industries                 ST – Non-Fund Based   ICRA A4      70      -
Rating continues to remain under ‘(Issuer not cooperating)’category
Gujarat Microwax Pvt Ltd                Non-fund Based LOC    ICRA A2+     10      Reaffirmed
Gujarat Microwax Pvt Ltd                Non-fund Based BG     ICRA A2+     7.5     Reaffirmed
Gujarat Microwax Pvt Ltd                Non-fund Based Credit ICRA A2+     17.8    Reaffirmed
                                        Exposure Limit
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 83 – 99 Days Plan I
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 83 – 91 Days Plan C
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 91 Days Plan Z
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 103 Days Plan O
Idfc Bank Ltd                           CDs                   ICRA A1+     350000  Assigned /
                                                                                   Outstanding
J M Constructions Company               Non-fund based- LOC   ICRA A4      5       Assigned
Jhanavi Heights Pvt Ltd                 Jhanavi Cape Town     ICRA         -       Assessed
                                        project               Bengaluru
                                                              Four-Star1grading
Kotak Mahindra Asset                    Kotak Fixed Maturity  ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Plan Series 229
Lexus Motors Ltd                        Non-FBL               ICRA A4      20      Reaffirmed
Luxmi Tea Company Pvt Ltd               FB-ST-loans           ICRA A1&     55      -
Placed under rating watch with developing implications)
Marikar (Motors) Ltd                    ST – Fund Based       ICRA A4+     93.5    -
                                        (Inventory Funding)
revised from ICRA A3 and moved to the ‘(Issuer not cooperating)’ category
Nandyala Satyanarayana                  Non-fund based        ICRA A4      5       -
Moved to the ‘ISSUER NOT COOPERATING’ category due to non-submission of 
 monthly ‘No Default Statement’ (“NDS”)
Religare Finvest Ltd                    CP programme          ICRA A3&,    20000   -
&: under rating watch with developing implications
S. D. Corporation Pvt Ltd               CP                    ICRA A1+(SO) 9100    Outstanding
S. D. Corporation Pvt Ltd               CP                    Provisional  500     Assigned
                                                              ICRA
                                                              A1+(SO);
UTI Asset Management Co. Ltd            UTI FIIF Quarterly    ICRA A1+mfs   -      Assigned
                                        Interval Plan -
                                        Series VI
UTI Asset Management Co. Ltd            UTI Liquid Cash Plan* ICRA A1+mfs          Outstanding
* Erstwhile UTI Liquid Fund-Cash Plan
Zenith Exports Ltd                      ST FB working-capital ICRA A4      260     Reaffirmed
                                        limits
Zenith Exports Ltd                      ST non-fund based     ICRA A4      10      Reaffirmed
                                        loans

LONG TERM RATINGS:
-------------------
Accurate Foods & Beverages Pvt          Fund based – Demand   ICRA BBB-    5612.9  Withdrawn
Ltd                                     Loan
Accurate Foods & Beverages Pvt          Fund based - CC       ICRA BBB-    2487.1  Withdrawn
Ltd
Addica Industries Llp                   FB TL                 ICRA B+      102     Assigned
Addica Industries Llp                   FB Working Capital FacICRA B+      120     Assigned
Ambey Metallic Pvt Ltd                  Fund based            ICRA B+      56.5    Withdrawn
Atpac Industries                        Fund based -CC –LT    ICRA BB+     80      Reaffirmed
Avni Energy SolUTIons Pvt Ltd           LT – CC               ICRA D       70      -
Rating moved to the ‘(Issuer not cooperating)’ category
Avni Energy SolUTIons Pvt Ltd           LT – Unallocated      ICRA D       17.5    -
Rating moved to the ‘(Issuer not cooperating)’ category
Bhagwan Mahaveer Memorial Jain          LT Unallocated Limit  ICRA BB-     104.5   Downgraded
Trust                                                                              from ICRA BB
Bhagwan Mahaveer Memorial Jain          LT Working Capital    ICRA BB-     147.8   downgraded
Trust                                                                              from ICRA BB
Bhagwan Mahaveer Memorial Jain          LT TL                 ICRA BB-     572.7   downgraded
Trust                                                                              from ICRA BB
Diya Systems (Mangalore) Pvt            LT - Fund Based TL    ICRA BB+     650     -
Ltd
Rating continues to remain in the ‘(Issuer not cooperating)’ category
Govind Cable Industries                 LT - Fund Based/CC    ICRA B       60      -
Rating
continues to remain under ‘(Issuer not cooperating)’category
Gujarat Microwax Pvt Ltd                FB EPC/PCFC/FBD/EBR   ICRA A-      150     Reaffirmed
Gujarat Microwax Pvt Ltd                FBD/EBR sublimit to   ICRA A-      -       Reaffirmed
                                        EPC/PCFC/FBD/EBR
Gujarat Microwax Pvt Ltd                CC-sublimit to        ICRA A-      -       Reaffirmed
                                        EPC/PCFC/FBD/EBR
Gujarat Microwax Pvt Ltd                Unallocated           ICRA A-      100     Reaffirmed
                                                              /ICRA A2+;
Haranai Sahakari Soot Girni             FB- Working Capital   ICRA BB-     35.5    Reaffirmed
Ltd.                                    Fac
Haranai Sahakari Soot Girni             FB- TL                ICRA BB-     25      Reaffirmed
Ltd.
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 1185 Days Plan I
Icici Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       Assigned
Management Co. Ltd                      Plan
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Assigned
Management Co. Ltd                      Dynamic Bond Fund
Icici Prudential Asset                  ICICI Prudential      ICRA Aamfs   -       Assigned
Management Co. Ltd                      Corporate Bond Fund
Idfc Bank Ltd                           NCD Programme         ICRA AAA     100000  Outstanding
Idfc Bank Ltd                           NCD Programme*        ICRA AAA     317113  Outstanding
*Non-convertible debentures (NCDs) of IDFC Limited reassigned to 
IDFC Bank Limited following the transfer of business with effect 
from October 1, 2015. ^ Rs. 480 crore outstanding, balance yet to be placed 
J M Constructions Company               FB- CC                ICRA BB-     50      Assigned /
                                                                                   Outstanding
J M Constructions Company               Non-fund based- BG    ICRA BB-     90      Assigned /
                                                              /ICRA A4;            Outstanding
K.K. Proteins Pvt Ltd                   CC                    ICRA B+      180     -
(Issuer not cooperating)
Kalyani Global Engineering Pvt          LT fund based         ICRA A-&     300     -
Ltd
Placed on ratings watch with developing implications
Kalyani Global Engineering Pvt          LT non-fund based 9   ICRA A-&     900     -
Ltd
Placed on ratings watch with developing implications
Kalyani Global Engineering Pvt          LT unallocated        ICRA A-&     300     -
Ltd
Placed on ratings watch with developing implications
Kkrc Infrastructure Pvt Ltd             FB CC                 ICRA B       105     -
Moved to the ‘ISSUER NOT COOPERATING’ category due to non-submission of
monthly ‘No Default Statement’ (“NDS”)
Kkrc Infrastructure Pvt Ltd             Non-fund basedBG      ICRA B       235     -
Moved to the ‘ISSUER NOT COOPERATING’ category due to non-submission of
monthly ‘No Default Statement’ (“NDS”)
Kotak Mahindra Asset                    Kotak Bond ST Plan    ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Dynamic Bond    ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Savings Fund    ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Corporate Bond  ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Bond            ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Bking and PSU   ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Debt Fund
Kotak Mahindra Asset                    Kotak Money Market    ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Scheme
Kotak Mahindra Asset                    Kotak Mahindra Liquid ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Scheme
Kotak Mahindra Asset                    Kotak Fixed Maturity  ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Plan Series 218
Kotak Mahindra Asset                    Kotak Fixed Maturity  ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Plan Series 227
Kotak Mahindra Asset                    Kotak Capital         Provisional  -       Outstanding
Management Co. Ltd                      Protection Oriented   ICRA
                                        Scheme Series 5       AAAmfs(SO)
Kotak Mahindra Asset                    Kotak Capital         Provisional  -       Outstanding
Management Co. Ltd                      Protection Oriented   ICRA
                                        Scheme Series 6       AAAmfs(SO)
Lexus Motors Ltd                        FBL                   ICRA B+      850     Reaffirmed
Lexus Motors Ltd                        Untied Limits         ICRA         130     Reaffirmed
                                                              B+(Stable)/
                                                              ICRA A4
Luxmi Tea Company Pvt Ltd               FB-CC                 ICRA A&      295     -
placed under rating watch with developing implications)
Marikar (Motors) Ltd                    LT –TL                ICRA BB+     185     -
revised from ICRA BBB-(Negative) and moved to the ‘(Issuer not cooperating)’ category
Marikar (Motors) Ltd                    LT –Fund Based (CC)   ICRA BB+     140     -
revised from ICRA BBB-(Negative) and moved to the ‘(Issuer not cooperating)’ category
Marikar (Motors) Ltd                    LT / ST – Unallocated ICRA BB+     1.5     -
                                                              /ICRA A4+
Revised from ICRA BBB-(Negative)/ ICRA A3 and 
 moved to the ‘(Issuer not cooperating)’ category
Mixed Bag Overseas                      LT -Fund Based/CC     ICRA B       100     -
Rating
continues to remain under ‘(Issuer not cooperating)’ category
Nandyala Satyanarayana                  FB                    ICRA BB-     1276    -
Moved to the ‘ISSUER NOT COOPERATING’ category due to non-submission of
monthly ‘No Default Statement’ (“NDS”)
Nandyala Satyanarayana                  Unallocated Limits    ICRA BB-     19      -
Moved to the ‘ISSUER NOT COOPERATING’ category due to non-submission of
monthly ‘No Default Statement’ (“NDS”)
Om Ginning And Pressing Factory         LT: FB limits         ICRA BB-     66.5    -
(Issuer not cooperating)
Raghunath Agro Tech(Pvt)Ltd             CC                    ICRA BB-     300     -
(Issuer not cooperating)
Rajalaxmi Education Trust               LT - Fund Based T     ICRA BB-     210     -
Rating moved to the ‘(Issuer not cooperating)’ category
Religare Finvest Ltd                    LT Debt programme     ICRA BBB&,   10000   -
&: under rating watch with developing implications
Religare Finvest Ltd                    Bk Limits             ICRA BBB&/   120000  -
                                                              ICRA A3&,
&: under rating watch with developing implications
S. D. Corporation Pvt Ltd               NCD Programme         ICRA AA(SO)  4850    Outstanding
Shrinivasa Cattle Feeds Pvt Ltd         LT: FB limits         ICRA BB-     225     -
(Issuer not cooperating)
Shrinivasa Cattle Feeds Pvt Ltd         LT: unallocated       ICRA BB-     5       -
(Issuer not cooperating)
UTI Asset Management Co. Ltd            UTI Ultra ST Fund**   ICRA AAAmfs   -      Outstanding
** Erstwhile UTI Floating Rate Fund- Short Term Plan
UTI Asset Management Co. Ltd            UTI Treasury          ICRA AAAmfs   -      Outstanding
                                        Advantage Fund
UTI Asset Management Co. Ltd            UTI Bond Fund         ICRA AAAmfs   -      Outstanding
UTI Asset Management Co. Ltd            UTI Dynamic Bond Fund ICRA AAAmfs   -      Outstanding
UTI Asset Management Co. Ltd            UTI Bking and PSU     ICRA AAAmfs   -      Outstanding
                                        Debt Fund
UTI Asset Management Co. Ltd            UTI Capital           ICRA          -      Outstanding
                                        Protection Oriented   AAAmfs(SO);
                                        Scheme Series IX - Plan 1
UTI Asset Management Co. Ltd            UTI Capital           ICRA          -      Outstanding
                                        Protection Oriented   AAAmfs(SO);
                                        Scheme Series IX - Plan 2
UTI Asset Management Co. Ltd            UTI Capital           ICRA         -       Outstanding
                                        Protection Oriented   AAAmfs(SO);
                                        Scheme Series IX - Plan 3
UTI Asset Management Co. Ltd            UTI Capital           Provisional  -       Outstanding
                                        Protection Oriented   ICRA
                                        Scheme Series X - PlanAAAmfs(SO);
UTI Asset Management Co. Ltd            UTI Capital           Provisional  -       Outstanding
                                        Protection Oriented   ICRA
                                        Scheme Series X - PlanAAAmfs(SO);
Vishnushiva Infrastructure              FB –CC Limit          ICRA B+      100     Assigned
Zenith Exports Ltd                      Unallocated limits    -            -       -
--------------------------------------------------------------------------------------------
$: 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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