March 14, 2019 / 11:21 AM / 2 months ago

ICRA ratings for Indian debt instruments-Mar 14

    Mar 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 13, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP programme          ICRA A1+     120000  outstanding
Idbi Bank Ltd                           Certificates of       ICRA A1      350000  Reaffirmed
                                        Deposit Programme
Punjab And Sind Bank                    Certificates of       ICRA A1+     100000  Reaffirmed
                                        Deposit Programme
Punjab National Bank                    Certificates of       ICRA A1+     600000  Reaffirmed
                                        Deposit Term Deposit
                                        Programme
Sagar Grandhi Exports Pvt Ltd           ST FB Fac             ICRA A2+     1260    Assigned
                                                                                   /outstanding
Sagar Grandhi Exports Pvt Ltd           ST non-FB Fac         ICRA A2+     30      outstanding
Superfil Products Pvt Ltd               ST - Non-fund based   ICRA A2 +    112     Reaffirmed
Susee Motors (India) Pvt Ltd            ST- Non-FBL           ICRA A4      30
(Issuer Not Cooperating)
Susee Motors (India) Pvt Ltd            ST- Non-FBL           ICRA A4      30
(Issuer Not Cooperating)
Topsack Packaging Pvt Ltd               ST- Fund Based        ICRA A4+     240     Assigned
 
MEDIUM TERM RATINGS:
-------------------
Bank Of India                           Term Deposit          MAA+         -       Reaffirmed
                                        Programme
Idbi Bank Ltd                           Fixed Deposits        MAA-         -       Reaffirmed
                                        Programme
Punjab National Bank                    Fixed Deposit         MAA          -       Reaffirmed
                                        Programme
LONG TERM RATINGS:
-------------------
Acer India (Pvt) Ltd.                   BG                    ICRA BBB+    4000    Reaffirmed
Aditya Birla Finance Ltd                Perpetual debt        ICRA         7000    outstanding
                                        programme             AA+(hyb)
Aditya Birla Finance Ltd                Retail NCD programme  ICRA AAA     50000   Assigned
Aditya Birla Finance Ltd                NCD programme         ICRA AAA     196752  outstanding
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AAA     15000   outstanding
                                        programme
Aditya Birla Finance Ltd                Subordinated debt     ICRA AAA     25000   outstanding
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA         238830  outstanding
                                                              AAA/ICRA A1+
Amalgam Steel Pvt Ltd                   TL                    ICRA BBB+    1500    Assigned
Amalgam Steel Pvt Ltd                   CC                    ICRA BBB+    500     Assigned
Aptus Value Housing Finance             PTC Series A2         Provisional  279.8   Assigned
India Ltd                                                     ICRA A+(SO)
Aptus Value Housing Finance             PTC Series A1         Provisional  396.4   Assigned
India Ltd                                                     ICRA AA+(SO)
Bank Of Maharashtra                     Basel II Compliant    ICRA A       4000    Reaffirmed
                                        Upper Tier II Bonds
Bank Of Maharashtra                     Basel II Compliant    ICRA A       700     Reaffirmed
                                        Innovative Perpetual
                                        Debt Instrument
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      11300   Reaffirmed
                                        Lower Tier II Bonds
Bank Of Maharashtra                     Basel III Compliant   ICRA A+(hyb) 10000   Reaffirmed
                                        Tier II Bonds
                                        Programme
Idbi Bank Ltd                           Infrastructure Bonds  ICRA A       80000   Reaffirmed
Idbi Bank Ltd                           Flexi Bond Series     ICRA A       2305    Reaffirmed
Idbi Bank Ltd                           Senior & Lower Tier IIICRA A       257427.2Reaffirmed
Idbi Bank Ltd                           Subordinated Debt     ICRA A       700     Reaffirmed
                                        Programme
Idbi Bank Ltd                           Basel III Compliant   ICRA A(hyb)  50000   Reaffirmed
                                        Tier II Bonds
Idbi Bank Ltd                           Basel II Upper Tier   ICRA BBB+    42862   Reaffirmed
                                        II Bonds
‘rating watch with developing implications
Idbi Bank Ltd                           Basel II Compliant    ICRA BBB+    17088   Reaffirmed
                                        Perpetual Bonds
                                        (Tier-I)
‘rating watch with developing implications
Oriental Bank Of Commerce               Basel II Compliant    ICRA A-      0       Withdrawn
                                        Upper Tier II Bonds
                                        Programme
Oriental Bank Of Commerce               Basel II Compliant    ICRA A+      12000   Reaffirmed
                                        Lower Tier II Bonds
                                        Programme
Oriental Bank Of Commerce               Basel III Compliant   ICRA A+      30000   Reaffirmed
                                        Tier II Bonds         (hyb)
                                        Programme
Punjab And Sind Bank                    Basel III Compliant   ICRA A+      10000   Reaffirmed
                                        Tier I Bonds          (hyb)
Punjab And Sind Bank                    Basel II Compliant    ICRA AA      10750   Reaffirmed
                                        Lower Tier II Bonds
Punjab National Bank                    Infrastructure Bonds  ICRA AA-     30000   Reaffirmed
                                        Programme
Punjab National Bank                    Basel III Compliant   ICRA         10000   Reaffirmed
                                        Tier II Bonds         AA-(hyb)
Religare Finvest Ltd                    LT Debt Programme     ICRA BB      3000    Outstanding
(outstanding Rs. 220 crore)
Religare Finvest Ltd                    Bk Limits             ICRA BB      90000   Outstanding
(outstanding Rs. 3,617.53 crore)
Sagar Grandhi Exports Pvt Ltd           TL Fac                ICRA A-      36.5    outstanding
Sagar Grandhi Exports Pvt Ltd           LT FB Fac             ICRA A-      500     outstanding
Sagar Grandhi Exports Pvt Ltd           LT non-FB Fac         ICRA A-      50      outstanding
Superfil Products Pvt Ltd               LT - Fund based       ICRA BBB+    120     Reaffirmed
Superfil Products Pvt Ltd               LT - TL               ICRA BBB+    60      Reaffirmed
Superfil Products Pvt Ltd               LT – Unallocated      ICRA BBB+    108     Reaffirmed
Susee Motors (India) Pvt Ltd            LT – FB Limit         ICRA B       30
(Issuer Not Cooperating)
Susee Motors (India) Pvt Ltd            LT – FB Limit         ICRA B       30
(Issuer Not Cooperating)
Topsack Packaging Pvt Ltd               LT- Fund Based- CC    ICRA BB+     30      Assigned
Topsack Packaging Pvt Ltd               LT- Fund Based- TL    ICRA BB+     10      Assigned
Utstarcom India Telecom Pvt.            Non-FBL               ICRA BBB /A2 500     Assigned
Ltd.
Visage Holdings & Finance Pvt.          NCD Programme         ICRA BBB-    263.5   Assigned
Ltd.
Visage Holdings & Finance Pvt.          NCD Programme         ICRA BBB-    510     outstanding
Ltd.
Visage Holdings Amp; Finance            Bk Fac                ICRA BBB-    500     outstanding
Pvt. Ltd.
--------------------------------------------------------------------------------------------
$: 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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