March 20, 2018 / 10:42 AM / a month ago

ICRA ratings for Indian debt instruments-Mar 20

    Mar 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 19, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP programme          ICRA]A1+     120000  Assigned
Ecap Equities Ltd                       CP Programme          ICRA A1+     12500   Assigned
Ecap Equities Ltd                       ST NCD programme      ICRA A1+     1500    outstanding
Ecap Equities Ltd                       ST Principle          PP-MLDICRA   1500    outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Securities Ltd                CP Programme          ICRA A1+     10000   Assigned
Elite Engineering &                     NFBL                  ICRA A4+     151.8   Withdrawn
Constructions (Hyd) Pvt Ltd
Excel Woven Sacks Pvt Ltd               Non-fund based – LOC  ICRA A4+     12.5    Withdrawn
Hill Stone Ceramic Pvt Ltd              Non Fund based- BG    ICRA A4      11      ISSUER NOT
                                                                                   COOPERATING
L& T Infrastructure Finance             CP programme (IPO     ICRA A1+     50000   Assigned
Co. Ltd                                 financing)
L& T Infrastructure Finance             CP Programme          ICRA A1+     110000  outstanding
Co. Ltd
L&T Finance Ltd (Erstwhile              CP Programme (IPO     ICRA A1+     90000   Assigned
Family Credit Ltd)                      financing)
L&T Finance Ltd (Erstwhile              CP Programme          ICRA A1+     185000  outstanding
Family Credit Ltd)
Planetcast Media Services Ltd           Non-fund              ICRA A1      300     Reaffirmed
                                        based-Working Capital
                                        Fac – ST Scale
Planetcast Technologies Ltd             Non-fund based        ICRA A1      200     Reaffirmed
                                        Working Capital Fac
Trilok Cotton Pvt Ltd                   Bill Discounting &    ICRA A4              Withdrawn
                                        Packing Credit
LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA      7000    outstanding
                                        programme             (hyb)
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     160000  outstanding
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AA+     15000   outstanding
                                        programme
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     25000   outstanding
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA AA+/    187225  outstanding
                                                              ICRA A1+
Asha Industries                         FB – CC               ICRA B+      67.5    Assigned
Asha Industries                         Unallocated Limits    ICRA B+      3.5     Assigned
Au Small Finance Bank Ltd               PTC Series A          ICRA AA (SO) -       Reaffirmed
Indian Standard Loan Trust Xxix
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust Xxix                               (SO)
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB     -       Reaffirmed
Indian Standard Loan Trust Xxix                               (SO)
Au Small Finance Bank Ltd               PTC Series A          ICRA AA (SO) -       Reaffirmed
Indian Standard Loan Trust
XXVIII
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust                                    (SO)
XXVIII
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB     -       Reaffirmed
Indian Standard Loan Trust                                    (SO)
XXVIII
Au Small Finance Bank Ltd               PTC Series A          ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust Xxx                                (SO)
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust Xxx                                (SO)
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB     -       Reaffirmed
Indian Standard Loan Trust Xxx                                (SO)
Au Small Finance Bank Ltd               PTC Series A          ICRA AA (SO) -       Reaffirmed
Indian Standard Loan Trust
XXXIII
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust                                    (SO)
XXXIII
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB     -       Reaffirmed
Indian Standard Loan Trust                                    (SO)
XXXIII
Au Small Finance Bank Ltd               PTC Series A          ICRA AA+     -       Reaffirmed
Indian Standard Loan Trust Xxxv                               (SO)
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA     -       Reaffirmed
Indian Standard Loan Trust Xxxv                               (SO)
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB     -       Reaffirmed
Indian Standard Loan Trust Xxxv                               (SO)
Cargo Motors (Guj.) Pvt. Ltd.           CC                    -            -       -
ISSUER NOT COOPERATING
Cargo Motors (Guj.) Pvt. Ltd.           Fund based            ICRA BBB     100
ISSUER NOT COOPERATING
Century 21 Town Planners Pvt            Fund based – TL       ICRA BB-     920     Withdrawn
Ltd
Century 21 Town Planners Pvt            Unallocated           ICRA BB-     20      Withdrawn
Ltd
Ecap Equities Ltd                       NCD programme         ICRA AA      7500    outstanding
Ecap Equities Ltd                       LT Market Linked      PP-MLDICRA   18500   outstanding
                                        Debenture programme   AA
Edel Finance Co. Ltd                    NCD programme         ICRA AA      7500    Assigned
Elite Engineering &                     Fund based-TL         ICRA BB+     18.2    Withdrawn
Constructions (Hyd) Pvt Ltd
Elite Engineering &                     Fund based- Working   ICRA BB+     30      Withdrawn
Constructions (Hyd) Pvt Ltd             Capital Fac
Excel Woven Sacks Pvt Ltd               Fund based- CC        ICRA BB+     80      Withdrawn
Excel Woven Sacks Pvt Ltd               Fund based – TL       ICRA BB+     2.7     Withdrawn
Excel Woven Sacks Pvt Ltd               Non-fund based – BG   ICRA BB+     5       Withdrawn
Excel Woven Sacks Pvt Ltd               Unallocated Limits    ICRA BB+     15.8    Withdrawn
                                                              / ICRA A4+
Fincare Small Finance Bank              PTC Series A1         Provisional  444.9   Assigned
Ltd-Degea March 2018                                          ICRA
                                                              BBB+(SO)
Hero Solar Energy Pvt Ltd               NCD Programme         ICRA A       1750    Reaffirmed
Hero Wind Energy Pvt. Ltd.              NCD Programme         ICRA A       3150    Reaffirmed
Hill Stone Ceramic Pvt Ltd              Fund based-TL         ICRA B+      30.1    ISSUER NOT
                                                                                   COOPERATING
Hill Stone Ceramic Pvt Ltd              Fund based-CC         ICRA B+      35      ISSUER NOT
                                                                                   COOPERATING
Indinfravit Trust                       Issuer Rating         ICRA AAA     -       Assigned
L& T Infrastructure Finance             Perpetual Debt        ICRA AA      4000    outstanding
Co. Ltd                                 Programme
L& T Infrastructure Finance             Non-Convertible       ICRA AA+     60340   outstanding
Co. Ltd                                 Debenture Programme
L& T Infrastructure Finance             NCD (Infra Bonds)     ICRA AA+     16650.3 outstanding
Co. Ltd                                 Programme
L& T Infrastructure Finance             Subordinated Debt     ICRA AA+     17000   outstanding
Co. Ltd                                 Programme
L& T Infrastructure Finance             Bk Lines              ICRA AA+     70000   outstanding
Co. Ltd                                                       /ICRA A1+
L&T Finance Ltd (Erstwhile              Perpetual Debt        ICRA AA      6000    outstanding
Family Credit Ltd)                      Programme
L&T Finance Ltd (Erstwhile              NCD Programme         ICRA AA+     65190   outstanding
Family Credit Ltd)
L&T Finance Ltd (Erstwhile              NCD Programme (Public ICRA AA+     6817    outstanding
Family Credit Ltd)                      Issuance)
L&T Finance Ltd (Erstwhile              Subordinated Debt     ICRA AA+     13250   outstanding
Family Credit Ltd)                      Programme
Planetcast Media Services Ltd           TL                    ICRA A+      400     Reaffirmed
Planetcast Media Services Ltd           Fund based- Working   ICRA A+      100     Reaffirmed
                                        Capital Fac
Planetcast Media Services Ltd           Non-fund              ICRA A+      130     Reaffirmed
                                        based-Working Capital
                                        Fac – LT Scale
Planetcast Technologies Ltd             Fund based- Working   ICRA A+      50      Reaffirmed
                                        Capital Fac
R. P. Motors                            FBL – TL              ICRA B       18.6    ISSUER NOT
                                                                                   COOPERATING
R. P. Motors                            FBL –CC e-DFS         ICRA B       28      ISSUER NOT
                                                                                   COOPERATING
R. P. Motors                            FBL –CC regular       ICRA B       10      ISSUER NOT
                                                                                   COOPERATING
R. P. Motors                            Untied limits         ICRA B       3       ISSUER NOT
                                                                                   COOPERATING
Trilok Cotton Pvt Ltd                   Fund based-Working    ICRA B       105     Reaffirmed
                                        Capital Loans
Trilok Cotton Pvt Ltd                   TL                    ICRA B       0       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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