May 11, 2018 / 10:52 AM / 10 days ago

ICRA ratings for Indian debt instruments-May 11

    May 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 10, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Airports Authority Of India             CP                    ICRA A1+     7500    Reaffirmed
Benson Medical Equipments               BG/LC                 ICRA A4      80      -
(India) Pvt Ltd
(Rating continues to remain in the Issuer Not Cooperating category)
Benson Medical Equipments               Forward Contract      ICRA A4      1       -
(India) Pvt Ltd
(Rating continues to remain in the Issuer Not Cooperating category)
Canter Engineers Pvt Ltd                ST:Non-FBL            ICRA A4+     220     Assigned
Deccan Ispat Ltd                        ST Non-FBL            ICRA D       70      Downgraded
                                                                                   from ICRA A4
(Ratings continue to be in Issuer not cooperating)
Deccan Ispat Ltd                        ST-Unlocated limits   ICRA D       30      Downgraded
                                                                                   from ICRA A4
(Ratings continue to be in Issuer not cooperating)
Jm Financial Capital Ltd                CP programme (IPO     ICRA A1+     3000    Assigned
                                        Financing)
Jm Financial Capital Ltd                CP programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Jm Financial Capital Ltd                CP Programme          ICRA A1+     10000   Outstanding
Jm Financial Products Ltd               CP Programme (IPO     ICRA A1+     5000    Assigned
                                        Financing)
Jm Financial Products Ltd               CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Jm Financial Products Ltd               CP programme          ICRA A1+     45000   Outstanding
Nezone Industries Ltd                   Non-fund              ICRA A4      170     Reaffirmed
                                        based-Working Capital
                                        Fac
Seleo Ceramic Pvtltd                    BG                    ICRA A4      10      -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Siddhi Ferrous Llp                      ST –Non-Fund Based    ICRA A4      40      Withdrawn


MEDIUM TERM RATINGS:
-------------------
Bright Brothers Ltd                     Fixed Deposit         MB+          18.6    -
                                        Programme
(Continue to remain under Issuer not cooperating category)



LONG TERM RATINGS:
-------------------
Airports Authority Of India             TL                    ICRA AAA     15000   Reaffirmed
Airports Authority Of India             LT bonds/debt         ICRA AAA     0       Withdrawn
                                        programme
Airports Authority Of India             Fund basedworking     ICRA AAA     5000    Reaffirmed
                                        capital Fac           /A1+
Annapurna Finance Pvt Ltd -             PTC Series A1         Provisional  399.6   Confirmed as
Jaqen Mfl Northern Arc 2018                                   ICRA A               final
Annapurna Finance Pvt Ltd -             PTC Series A2         Provisional  18.4    Confirmed as
Jaqen Mfl Northern Arc 2018                                   ICRA BBB+            final
Aye Finance (P) Ltd - Tyrell            PTC Series A1         ICRA AA-     101.9   Upgraded
Sbl  Ifmr Capital2017                                                              from ICRA A-
Aye Finance (P) Ltd - Tyrell            PTC Series A2         ICRA BBB+    6       Upgraded
Sbl Ifmr Capital 2017                                                              from ICRA BB+
Aye Finance (P) Ltd - Vivriti           PTC Series A1         ICRA A-      183.7   Reaffirmed
Morris 003 2018
Aye Finance (P) Ltd - Vivriti           PTC Series A2         ICRA BBB-    11.8    Reaffirmed
Morris 003 2018
Aye Finance (P) Ltd - Vivriti           PTC Series A1 – (a)   ICRA A-      80.8    Reaffirmed
Pereira 001 2018
Aye Finance (P) Ltd - Vivriti           PTC Series A1 – (b)   ICRA A-      70      Reaffirmed
Pereira 001 2018
Aye Finance (P) Ltd - Vivriti           PTC Series A2         ICRA BBB-    16.6    Reaffirmed
Pereira 001 2018
Benson Medical Equipments               CC                    ICRA BB-     15      -
(India) Pvt Ltd
(Rating continues to remain in the Issuer Not Cooperating category)
Benson Medical Equipments               Unallocated           ICRA BB- /   4       -
(India) Pvt Ltd                                               A4
(Rating continues to remain in the Issuer Not Cooperating category)
Bhartiya City Developers Pvtltd         LT FB Bkfacilities    ICRA BBB     10591.0^Upgraded
                                                                                   from ICRA
                                                                                   BBB-
^ Long-term fund-based bank facilities include undrawn term loans amounting Rs 341.01 crore
Bhartiya City Developers Pvtltd         LT unallocated Bk     ICRA BBB     8277.4  Upgraded
                                        facilities                                 from ICRA
                                                                                   BBB-
Bright Brothers Ltd                     Issuer Rating         ICRA BB      -       Assigned
Canter Engineers Pvt Ltd                LT: Fund based –CC    ICRA BB+     120     Assigned
Canter Engineers Pvt Ltd                LT / ST: Unallocated  ICRA BB+ /   210     Assigned
                                        limits                A4+
Chaitanya India Fin Credit Pvt          Bk Fac                ICRA BBB-    520     Outstanding
Ltd
Chaitanya India Fin Credit Pvt          NCD Programme         ICRA BBB-    840     Outstanding
Ltd
Chaitanya India Fin Credit Pvt          Subordinated Debt     ICRA BBB-    200     Outstanding
Ltd                                     Programme
Chaitanya India Fin Credit Pvt          Market Linked NCD     PP-MLD ICRA  200     Assigned
Ltd                                     Programme             BBB-
Clean Solar Power (Dhar) Pvt            Fund based-TL         ICRA A-      1410    Reaffirmed
Ltd
Clean Solar Power (Dhar) Pvt            Fund based-Working    ICRA A-      50      Reaffirmed
Ltd                                     Capital Fac
Jabs International Pvt Ltd              BLR                   ICRA BBB+ /  822.5   -
                                                              A2
(Reason for delay in carrying out periodic review:-Issuer delayed in giving information)
Jm Financial Capital Ltd                NCD Programme         ICRA AA      2000    Outstanding
Jm Financial Capital Ltd                LT Equity Linked      PP-MLD ICRA  2000    Outstanding
                                        Debentures (Principal AA
                                        Protected)
Jm Financial Products Ltd               NCD programme         ICRA AA      25000   Outstanding
Jm Financial Products Ltd               LT Bk lines           ICRA AA      15000   Outstanding
Jm Financial Products Ltd               LT market linked      PP-MLD ICRA  5000    Outstanding
                                        debentures (Principal AA
                                        Protected)
Maxworth Plywoods Pvt Ltd               LT FBL                ICRA D       30      Downgraded
                                                                                   from ICRA B+
(Ratings continue to be in Issuer not cooperating)
Maxworth Plywoods Pvt Ltd               Long/ST-Unlocated     ICRA D       30      Downgraded
                                        limits                                     from ICRA B+
                                                                                   / A4
(Ratings continue to be in Issuer not cooperating)
My Car Nexa Pvt Ltd                     LT fund based         ICRA B       224.8   -
(Reason for delay in carrying out periodic review.-Issuer not co-operating)
Nezone Industries Ltd                   FB Working Capital FacICRA BB      30      Reaffirmed
Nezone Industries Ltd                   Unallocated Limit     ICRA BB /    99      Reaffirmed
                                                              A4
Nirmal Ujjwal Credit                    LT Bk lines           ICRA BB      800     Withdrawn
Co-Operative Society Limite
Nuevo Polymers Pvt Ltd                  FB Limits             ICRA BB- /A4 350     Reaffirmed
Real Growth Securitiespvt Ltd           FB –CC/Overdraft      ICRA BBB-    150     Reaffirmed
Real Growth Securitiespvt Ltd           Unallocated           ICRA BBB-    100     Reaffirmed
Richwell Enterprisespvt Ltd             Fund based TL         ICRA BB-     147.5   Withdrawn
Richwell Enterprisespvt Ltd             Unallocated           ICRA BB-     2.5     Withdrawn
Seleo Ceramic Pvtltd                    CC                    ICRA B       32.5    -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Seleo Ceramic Pvtltd                    TL                    ICRA B       32.3    -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Seleo Ceramic Pvtltd                    Unallocated Limits    ICRA B       23      -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Siddhi Ferrous Llp                      LT –Fund Based (CC)   ICRA B+      95      Withdrawn
Siddhi Ferrous Llp                      LT –TL                ICRA B+      7       Withdrawn
Siddhi Ferrous Llp                      LT / ST –Unallocated  ICRA B+ / A4 28      Withdrawn
Sonata Finance Pvt Ltd -                PTC Series A2         ICRA BBB-    15.5    Withdrawn
Cimber Ifmr Capital 2016
Sunborne Energy Rajasthan               Fund based-TL         ICRA BBB+    368     Reaffirmed
Solar Pvt Ltd
Sunborne Energy Rajasthan               Unallocated           ICRA BBB+    12      Reaffirmed
Solar Pvt Ltd
Windsor Industries Pvt Ltd              Fund Based            ICRA BBB     99      Reaffirmed
Wipro Ltd                               External commercial   ICRA AAA     -       Reaffirmed
                                        borrowings
Wipro Ltd                               Non-FB Fac            ICRA AAA     33741   Reaffirmed
Wipro Ltd                               Non-FB Fac            ICRA AAA     -       Reaffirmed
Wipro Ltd                               FB (inter-changeable) ICRA AAA/    18332   Reaffirmed
                                        Fac                   A1+
Wipro Ltd                               FB (inter-changeable) ICRA AAA/    -       Reaffirmed
                                        Fac                   A1+

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