March 28, 2018 / 10:42 AM / 3 months ago

ICRA ratings for Indian debt instruments-Mar 28

    Mar 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 27, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Banco Gaskets (India) Ltd               ST, Interchangeable   ICRA A1+     -       Withdrawn
                                        non-fund based
                                        facility
Banco Products (India) Ltd              ST, Non-fund based    ICRA A1+     20      Withdrawn
                                        facility
Canara Robeco Asset Management          Canara Robeco Savings ICRA A1+mfs  -       Reaffirmed
Co. Ltd                                 Plus Fund -
Canara Robeco Asset Management          Canara Robeco Liquid  ICRA A1+mfs  -       Reaffirmed
Co. Ltd                                 -
Dsp Blackrock Investment                DSP BlackRock Fixed   ICRA A1+mfs  -       outstanding
Managers Pvt Ltd                        Maturity Plan -
                                        Series 222 – 3M
Dsp Blackrock Investment                DSP BlackRock Fixed   ICRA A1+mfs  -       outstanding
Managers Pvt Ltd                        Maturity Plan -
                                        Series 225 – 3M
Exotic Granite Llp                      Non-fund based- LOC   ICRA A4      70
ISSUER NOT COOPERATING
Garuda Fashions Pvt Ltd                 ST – Non Fund Based   ICRA A4+     9
ISSUER NOT COOPERATING
Hooghly Shipbreakers Ltd                ST –Non-Fund based-   ICRA A4      700     Assigned
                                        Fac
Infrastructure Leasing &                CP programme          ICRA A1+     25000   Assigned
Financial Services Ltd
Kddl Ltd                                Non Fund based        ICRA A3+     120     Reaffirmed
R Balarami Reddy And Company            Non fund based- BG    ICRA A4      70      Assigned
Restoration Engineers                   Bk Gurantee           ICRA A4      67.5
ISSUER NOT COOPERATING
S.T. Woollen Mills Pvt Ltd              Short- term non- FBL  ICRA A4      70      Reaffirmed
Samasta Microfinance Ltd                CP programme          ICRA A1      2000    outstanding
Satya Micro Capital Ltd.                MFI Grading           M2           -       Assigned
Sree Durga Fibre Products Pvt           Non-Fund Based –BG    ICRA A3+     10      Reaffirmed
Ltd
Stp Ltd                                 ST Non-fund based     ICRA A4      90      Reaffirmed
Suryoday Small Finance Bank Ltd         CD                    ICRA A1      300     Assigned
Tata Capital Financial                  ST Loans              ICRA A1+     21250   Assigned
Services Ltd
Tata Capital Financial                  CP Programme          ICRA A1+     100000  outstanding
Services Ltd

MEDIUM TERM RATINGS:
-------------------
Kddl Ltd                                Fixed Deposits        MA-          150     Reaffirmed

LONG TERM RATINGS:
-------------------
Abijit Solar Energy Pvt. Ltd            FB - TL               ICRA BB+     200     Assigned
Amanora Future Towers Pvt Ltd           LT - Fund Based – CC  ICRA BBB     200
Upgraded from ICRA BBB-
Arshit Gems                             LT / ST, FBL          ICRA D       280
ISSUER NOT COOPERATING
Azure Power Jupiter Pvt Ltd             Fund based-TL         ICRA BBB     2300    Assigned
Banco Gaskets (India) Ltd               LT, FB facility       ICRA AA-     200     Withdrawn
Banco Products (India) Ltd              LT/ST, FB facility    ICRA AA-     230     Withdrawn
                                                              /ICRA A1+
Canara Robeco Asset Management          Canara Robeco Medium  ICRA AA+mfs  -       Reaffirmed
Co. Ltd                                 Term - Opportunities
                                        Fund
Canara Robeco Asset Management          Canara Robeco Indigo  ICRA         -       Reaffirmed
Co. Ltd                                 Fund -                AAAdebtmfs
Canara Robeco Asset Management          Canara Robeco         ICRA AAAmfs  -       Reaffirmed
Co. Ltd                                 Treasury - Advantage
                                        Fund
Canara Robeco Asset Management          Canara Robeco ST Fund ICRA AAAmfs  -       Reaffirmed
Co. Ltd                                 -
City Corporation Ltd                    LT - Fund Based – TL  ICRA BBB     2500    Reaffirmed
City Corporation Ltd                    LT fund based – CC    ICRA BBB     235     Reaffirmed
City Corporation Ltd                    LT – Unallocated      ICRA BBB     15      Reaffirmed
D.S Enterprises                         Fund based – CC       ICRA BB-     100     Reaffirmed
Darling Digital World Pvt Ltd           Fund Based-LT         ICRA BB+     100     Assigned
Dsp Blackrock Investment                DSP BlackRock Savings ICRA AAAmfs  -       Assigned
Managers Pvt Ltd                        Fund -
Dsp Blackrock Investment                DSP BlackRock ST Fund ICRA AAAmfs  -       outstanding
Managers Pvt Ltd                        -
Dsp Blackrock Investment                DSP BlackRock         ICRA AAAmfs  -       outstanding
Managers Pvt Ltd                        Liquidity Fund -
Dsp Blackrock Investment                DSP BlackRock Bking & ICRA AAAmfs  -       outstanding
Managers Pvt Ltd                        PSU - Debt Fund
Dsp Blackrock Investment                DSP BlackRock         ICRA AAAmfs  -       outstanding
Managers Pvt Ltd                        Strategic Bond - Fund
Dsp Blackrock Investment                DSP BlackRock Money   ICRA AAAmfs  -       outstanding
Managers Pvt Ltd                        Manager - Fund
Encarta Pharma Pvt Ltd                  LT – FBL              ICRA D       250
ISSUER NOT COOPERATING
Encarta Pharma Pvt Ltd                  ST – Non-FBL          ICRA D       125
ISSUER NOT COOPERATING
Encarta Pharma Pvt Ltd                  LT/ST – Unallocated   ICRA D       25
ISSUER NOT COOPERATING
Exotic Granite Llp                      Fund based – CC       ICRA B       40
ISSUER NOT COOPERATING
Exotic Granite Llp                      Fund based – TL       ICRA B       60
ISSUER NOT COOPERATING
Garuda Fashions Pvt Ltd                 LT – Fund Based       ICRA BB+     60
ISSUER NOT COOPERATING
Garuda Fashions Pvt Ltd                 LT/ST – Unallocated   ICRA BB+     1
                                                              /A4+
ISSUER NOT COOPERATING
Hindustan Flour Mills                   LT – FB               ICRA B       100
revised from ICRA BB
Hooghly Shipbreakers Ltd                LT Interchangeable    ICRA BB-     -       Assigned
Infrastructure Leasing &                LT – TL               ICRA AAA     3500    outstanding
Financial Services Ltd
Infrastructure Leasing &                NCD Programme         ICRA AAA     44750   outstanding
Financial Services Ltd
Kddl Ltd                                Fund based – CC       ICRA BBB     190     Reaffirmed
Kddl Ltd                                Fund based – TL       ICRA BBB     140     Reaffirmed
Kims Hospital Enterprises Pvt.          Fund based-TL         ICRA A- (SO) 360     Assigned
Ltd.
Kims Hospital Enterprises Pvt.          Fund based- Working   ICRA A- (SO) 40      Assigned
Ltd.                                    Capital Fac
Malhotra Book Depot                     Fund based – CC       ICRA BBB-    150     Reaffirmed
Northern Arc Capital Ltd                PTC Series A2         ICRA A (SO)  68.5
Solstice Trust Series I 2017
Upgraded from ICRA BBB+(SO)
Northern Arc Capital Ltd                PTC Series A1         ICRA A+ (SO) 607.8
Solstice Trust Series I 2017
Upgraded from ICRA A(SO)
P N Rao                                 LT - TL               ICRA BBB-    27
Review process is underway
P N Rao                                 LT – Fund based       ICRA BBB-    60
Review process is underway
Penguin Trading & Agencies Ltd          Untied Fund based/    ICRA BBB+ /  280     Reaffirmed
                                        Non-fund based -LimitsA2
R Balarami Reddy And Company            Fund based- Over DraftICRA B+      60      Assigned
R Balarami Reddy And Company            Unallocated Limits    ICRA B+ /    40      Assigned
                                                              ICRA A4
Restoration Engineers                   CC                    ICRA BB      50
ISSUER NOT COOPERATING
Restoration Engineers                   Unallocated           ICRA BB/A4   32
ISSUER NOT COOPERATING
S&J Granulate Solutions (P) Ltd         NCD                   ICRA B       50
Upgraded from ICRA D
S.T. Woollen Mills Pvt Ltd              FB Limits-CC          ICRA B+      50      Reaffirmed
S.T. Woollen Mills Pvt Ltd              FB Limits-Overdraft   ICRA B+      12.5    Reaffirmed
S.T. Woollen Mills Pvt Ltd              FB Limits-TL          ICRA B+      11.2    Reaffirmed
S.T. Woollen Mills Pvt Ltd              Unallocated Limits    ICRA B+ /A4  6.3     Reaffirmed
Samasta Microfinance Ltd                LT Bk Fac             ICRA A       4000
Assigned/ outstanding
Samasta Microfinance Ltd                NCD programme         ICRA A       1500    outstanding
Shree Murugan Flour Mills (P)           LT – Fundbased        ICRA B-      300
Ltd
revised from ICRA BB- and removed from issuer non cooperation category
Smith Structures India Pvt.             Fund based- CC        ICRA B+      90      Withdrawn
Ltd.
Sree Durga Fibre Products Pvt           Fund Based- TL        ICRA BBB     109     Reaffirmed
Ltd
Sree Durga Fibre Products Pvt           Fund Based –CC        ICRA BBB     50      Reaffirmed
Ltd
Sree Durga Fibre Products Pvt           Fund Based /Non-fund  ICRA BBB     1       Reaffirmed
Ltd                                     BasedUnallocated      /ICRA A3+
Stp Ltd                                 LT FB CC              ICRA BB-     240
Upgraded from ICRA B
Stp Ltd                                 LT Non-fund based     ICRA BB-     20
Upgraded from ICRA B
Suryoday Small Finance Bank Ltd         LT Bk Lines           ICRA A-      1051.2  Outstanding
Suryoday Small Finance Bank Ltd         NCD                   ICRA A-      2135    Outstanding
Suryoday Small Finance Bank Ltd         Sub. Debt Programme   ICRA A-      500     Outstanding
Suryoday Small Finance Bank Ltd         LT Bk Lines           ICRA A-      -       Withdrawn
Suryoday Small Finance Bank Ltd         FD                    MA           5000    Outstanding
Tata Capital Financial                  Perpetual Debt        ICRA AA      10865.5 outstanding
Services Ltd                            Programme
Tata Capital Financial                  LT FBL                ICRA AA+     14,6250%Assigned
Services Ltd
%includes Rs. 6,753 crore interchangeable between long-term fund-based limits and long-term
loans; #includes Rs. 800 crore interchangeable between long-term fund-based and long-term
non-fund based
Tata Capital Financial                  LT Loans              ICRA AA+     27500   Assigned
Services Ltd
Tata Capital Financial                  LT NFBL               ICRA AA+     5000    outstanding
Services Ltd
Tata Capital Financial                  NCDs Programme        ICRA AA+     110319.3outstanding
Services Ltd
Tata Capital Financial                  Subordinated Debt     ICRA AA+     14054.5 outstanding
Services Ltd                            Programme
Varni Developers                        FBL                   ICRA BB-     150     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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