June 13, 2019 / 11:12 AM / 3 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, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Itd-Itd Cem Joint Venture               Non-Fund based        ICRA A1(SO)  3050    -
Reason for delay in carrying out periodic review: Review process is underway
Laborate Pharmaceuticals India          ST FB                 ICRA A1      400     Reaffirmed
Ltd
Laborate Pharmaceuticals India          ST non-fund based     ICRA A1      50      Reaffirmed
Ltd
Narayani Coke Pvt Ltd                   Non-Fund based – LOC  ICRA A3      650     Assigned
Narayani Coke Pvt Ltd                   Non-Fund based – BG#  ICRA A3      -       Assigned
#sublimit of Letter of credit facility    
Narayani Coke Pvt Ltd                   Non-Fund based –      ICRA A3      10      Assigned
                                        Forward Contract
Secon Pvt Ltd                           Non-FBL               ICRA A1      585     Reaffirmed
Sri Dhanalakshmi Cotton & Rice          ST - FBL              ICRA A2+     80      Reaffirmed
Mills Pvt. Ltd

LONG TERM RATINGS:
-------------------
Anmol Feeds Pvt Ltd                     Bk Fac                ICRA BBB- /  180     -
                                                              ICRA A3
Reason for delay in carrying out periodic review: - Review process is underway
Creditaccess Grameen Ltd                PTC Series A          Provisional  987.6   Assigned
-Northern Arc 2019 Mfi Yaga                                   ICRA A(SO)
Dlf Promenade Ltd                       NCD Programme         ICRA AA-     3800    Assigned
Dlf Promenade Ltd                       NCD Programme         ICRA AA(SO)  -       Withdrawn
Global Infra Fzco                       LOC                   ICRA A-(SO)& 850     downgraded
                                                                                   from ICRA
                                                                                   A(SO)&,
rating continues to remain under watch with developing implications
Itd Cementation India Ltd               TL                    ICRA A       1000    -
Reason for delay in carrying out periodic review: Review process is underway
Itd Cementation India Ltd               Fund based – Working  ICRA A       8000    -
                                        Capital
Reason for delay in carrying out periodic review: Review process is underway
Itd Cementation India Ltd               Non-Fund based (BG/LC)ICRA A /     40000   -
                                                              ICRA A1
Reason for delay in carrying out periodic review: Review process is underway
Itd-Itd Cem Joint Venture               TL                    ICRA A(SO)   1400    -
Reason for delay in carrying out periodic review: Review process is underway
Itd-Itd Cem Joint Venture               Fund based – Working  ICRA A(SO)   300     -
                                        Capital
Reason for delay in carrying out periodic review: Review process is underway
Laborate Pharmaceuticals India          LT FB                 ICRA A       800     Reaffirmed
Ltd
Narayani Coke Pvt Ltd                   FB – CC^              ICRA BBB-    90      Assigned
^Full Interchangeability to Letter of credit facility    
Secon Pvt Ltd                           FB Limits             ICRA A       65      Reaffirmed
Shapoorji Pallonji Solar                TL                    ICRA A-(SO)& 2500    downgraded
Holdings Pvt Ltd                                                                   from ICRA
                                                                                   A(SO)&,
rating continues to remain under watch with developing implications
Sri Dhanalakshmi Cotton & Rice          LT - FB limits        ICRA A-      1063.4  Reaffirmed
Mills Pvt. Ltd
Sri Dhanalakshmi Cotton & Rice          LT - Unallocated      ICRA A-      75      Reaffirmed
Mills Pvt. Ltd                          limits
Universal Mine Developers And           TL                    ICRA A-(SO)& 1560    downgraded
Service Providers Pvt. Ltd                                                         from ICRA
                                                                                   A(SO)&,
rating continues to remain under watch with developing implications
Universal Mine Developers And           CC                    ICRA A-(SO)& 60      downgraded
Service Providers Pvt. Ltd                                                         from ICRA
                                                                                   A(SO)&,
rating continues to remain under watch with developing implications
Venky Hi Tech Ispat Ltd                 Fund based-CC         ICRA D       240     Rating
                                                                                   downgraded
                                                                                   from ICRA B+
and continues to remain in the ‘Issuer Not Cooperating’ category
Venky Hi Tech Ispat Ltd                 Non fund basedLOC     ICRA D       15      Rating
                                                                                   downgraded
                                                                                   from ICRA A4
and continues to remain in the ‘Issuer Not Cooperating’ category
Venky Hi Tech Ispat Ltd                 Unallocated Limits    ICRA D/      45      Ratings
                                                              ICRA D               downgraded
                                                                                   from ICRA B+/
ICRA A4 and continue to remain in the ‘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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