June 27, 2019 / 11:24 AM / 7 months ago

ICRA ratings for Indian debt instruments-Jun 27

    Jun 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 26, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ajay Protech Pvt Ltd                    Interchangeable LimitsICRA D       -       Downgraded
                                                                                   from ICRA A4
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ajay Protech Pvt Ltd                    Non-FB Limits         ICRA D       100     Downgraded
                                                                                   from ICRA A4
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
H R Builders                            Non- Fundbased        ICRA A4      238.1   -
(Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info)
Hero Housing Finance Ltd                CP                    ICRA A1+     1500    Assigned
National Fertilizers Ltd                ST - NonFB Fac        ICRA A1+     30000   Outstanding
National Fertilizers Ltd                CP^                   ICRA A1+     60000   Outstanding
^Commercial paper program and Long-term CC limits are interchangeable with total borrowing
capped at lower of the drawing power or the sanctioned fund-based limits
National Fertilizers Ltd                ST unallocated limits ICRA A1+     102.5   Outstanding
Raghunath Agro Industries Pvt           Non-FBLLC/BG          ICRA A2+     20      Withdrawn
Ltd
(Issuer not cooperating)
Safe-Tronics Automation Pvt Ltd         ST – Non Fund Based   ICRA A4      100     Reaffirmed
Kamarli Steels Pvt Ltd                  ST – Non Fund Based   ICRA D       200     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kamarli Steels Pvt Ltd                  ST - Interchangeable  ICRA D       -       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kasturi Commodities Pvt Ltd             ST – Non Fund Based   ICRA D       750     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kasturi Commodities Pvt Ltd             ST - Interchangeable  ICRA D       -       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)



LONG TERM RATINGS:
-------------------
Aeroc Space Technologies Pvt.           Bk Loan Ratings       ICRA B       130     -
Ltd.
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Ajay Protech Pvt Ltd                    FB Limits             ICRA D       163.5   Downgraded
                                                                                   from ICRA BB-
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Alstom Systems India Pvt Ltd            Fund based working    ICRA A+      2550    Reaffirmed
                                        capital Fac
Alstom Systems India Pvt Ltd            Non-FB Fac - LC/BG    ICRA A+/A1+  3000    Reaffirmed
Alstom Transport India Ltd              Non-FBL – LC/BG       ICRA A+      21400   Reaffirmed
Alstom Transport India Ltd              Non-fund based/Fund   ICRA A+/A1+  6310    Reaffirmed
                                        basedworking capital
                                        limit
Aye Finance (P) Ltd                     NCD Programme         ICRA A-      200     Outstanding
Aye Finance (P) Ltd                     NCD Programme         ICRA BBB     350     Assigned
Aye Finance (P) Ltd                     NCD Programme         ICRA BBB     4438    Outstanding
Aye Finance (P) Ltd                     Fund Based - TL       ICRA BBB     556     Outstanding
Chandri Paper & Allied                  BLR                   ICRA D/D     337.5   -
Products Pvt Ltd
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Classic Display Systems Pvt.            FB                    ICRA BB      95      -
Ltd.
(Reason for delay in carrying out periodic review - Issuer not cooperating on fee and info)
Classic Display Systems Pvt.            Unallocated           ICRA BB      30      -
Ltd.
(Reason for delay in carrying out periodic review - Issuer not cooperating on fee and info)
Dolphin Foods India Ltd                 Bk loan Ratings       ICRA BBB-    110     -
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Finolite Ceramic                        BLR                   ICRA B/A4    235     -
(Reason for delay in carrying out periodic review - Issuer not Cooperating)
Girnar Food & Beverages Pvt Ltd         BLR                   ICRA BBB/A3+ 525     -
(Reason for delay in carrying out periodic review - Review process is underway)
H R Builders                            FB                    ICRA B+      80      -
(Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info)
Hero Housing Finance Ltd                LT/ ST Bk lines       ICRA A1+/A1+ 4000    Outstanding
Hero Housing Finance Ltd                NCD                   ICRA AA+     500     Outstanding
Hero Housing Finance Ltd                Sub ordinate Debt     ICRA AA+     2000    Outstanding
                                        Programme
Hero Housing Finance Ltd                NCD                   ICRA AA+     1000    Outstanding
Jadli Foods (India) Pvt. Ltd.           Bk loan Ratings       ICRA BB/A4   120     -
(Reason for delay in carrying out periodic review: Issuer not cooperating)
Janta Rice Mills                        Fund Based            ICRA B       130     -
(Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info)
Kamarli Steels Pvt Ltd                  LT – Interchangeable  ICRA D       -       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kasturi Commodities Pvt Ltd             LT – Interchangeable  ICRA D       -       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kkb Projects Pvt. Ltd                   LT – Fund Based CC    ICRA BB      130     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Lakshminarasimha Warehousing            Bk loan Ratings       ICRA B       60      -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Lotus Overseas                          FB – TL               ICRA B+      11.5    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Lotus Overseas                          FB – CC               ICRA B+      70      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Midland Microfin Ltd - Vivriti          PTC Series A1         Provisional  179.3   Assigned
Roland 06 2019                                                ICRA A
Midland Microfin Ltd - Vivriti          PTC Series A2         Provisional  4.1     Assigned
Roland 06 2019                                                ICRA A-
National (India) Contractors &          BLR                   ICRA D/D     245     -
Engineers
(Reason for delay in carrying out periodic review: - Review process is underway)
National Fertilizers Ltd                LT-CC Limits          ICRA AA      50000   Outstanding
National Fertilizers Ltd                TL                    ICRA AA      11677.5 Assigned /
                                                                                   Outstanding
Neogem India Ltd                        LT/ ST – Fund Based   ICRA D       150     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Perfect Engineering Associates          BLR                   ICRA B-/A4   200     -
Pvt Ltd
(Reason for delay in carrying out periodic review: Issuer not cooperating)
Pinkcity Build Home Pvt Ltd             LT FB – TL            ICRA BB+     305     -
(Reason for delay in carrying out periodic review: - Review process is underway)
Pinkcity Build Home Pvt Ltd             LT / ST – Unallocated ICRA BB+/A4+ 125.3   -
(Reason for delay in carrying out periodic review: - Review process is underway)
Raghunath Agro Industries Pvt           Working capital limitsICRA A-      950     Withdrawn
Ltd
(Issuer not cooperating)
Raghunath Agro Industries Pvt           TL                    ICRA A-      30      Withdrawn
Ltd
(Issuer not cooperating)
Reliable Spaces Pvt Ltd                 Fund based-TL         ICRA B+      1850    -
(Reason for delay in carrying out periodic review: Issuer not cooperating)
S.T. Woollen Mills Pvt Ltd              Bk Loan Ratings       ICRA B+/A4   150     -
(Reason for delay in carrying out periodic review: Review process underway)
Safe-Tronics Automation Pvt Ltd         LT – Fund Based (CC)  ICRA B+      40      Reaffirmed
Safe-Tronics Automation Pvt Ltd         LT / ST – Unallocated ICRA B+/A4   60      Reaffirmed
Sangli Miraj And Kupwad                 Issuer rating         ICRA BBB     -       -
Municipal Corporation
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shree Ram Lime Products Pvt Ltd         Bk loan Ratings       ICRA BB+/A4+ 200     -
(Reason for delay in carrying out periodic review: Issuer not cooperating)
Spandana Sphoorty Financial             PTC Series A          Provisional  1202.9  Assigned
Ltd - Chetana 06 2019                                         ICRA AA-
Sree Madhurya Projects Pvt Ltd          Fund Based            ICRA BB-     150     -
(Reason for delay in carrying out periodic review: - Review process is underway)
Sri Sai Balaji Tobaccos Pvt Ltd         Bk loan Ratings       ICRA B+      130     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Sri Venkateswara Warehousing            Bk loan Ratings       ICRA B       80      -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Surya Foods                             FB                    ICRA B       75      -
(Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info)
Surya Foods                             Unallocated           ICRA B       25      -
(Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info)
Swaraj Suiting Pvt Ltd                  LT FB – CC            ICRA BB+     110     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Swaraj Suiting Pvt Ltd                  LT FB – TL            ICRA BB+     390     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Vagdevi Food Products Pvt. Ltd          LT - Fund Based/ TL   ICRA B+      120     -
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Vagdevi Food Products Pvt. Ltd          LT - Fund Based/ CC   ICRA B+      200     -
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Vellore Institute Of Technology         Fund Based -TL Fac    ICRA AA-     1247.5  Reaffirmed
Vellore Institute Of Technology         LT – Proposed Fac     ICRA AA-     1952.5  Reaffirmed
Visura (India) Ltd                      CC                    ICRA B+      90      Reaffirmed
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Visura (India) Ltd                      Channel finance       ICRA B+      150     Reaffirmed
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Visura (India) Ltd                      Non-FBL               ICRA B+/A4   45      Reaffirmed
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Visura (India) Ltd                      Unallocated           ICRA B+/A4   120     Reaffirmed
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)

--------------------------------------------------------------------------------------------
$: 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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