May 2, 2019 / 11:40 AM / 4 months ago

ICRA ratings for Indian debt instruments-May 2

    May 2 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 30 and May 1, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A N Associates                          ST Proposed Limits    ICRA A4      300
Issuer yet to share information
Aishwaryagiri Constructions             Non-FB Fac            ICRA A4      150
Pvt Ltd
Continues to remain under the ‘Issuer Not Cooperating’ category
Aksh Optifibre Ltd                      Non-fund Based -      ICRA A3      1050    Withdrawn
                                        Working Capital Fac
Issuer Not Cooperating
Amit Engineers                          ST Non-fund based     ICRA A4      17
Rating continues to remain in ‘Issuer Not Cooperating’ category
Apeejay Surrendra Park Hotels           CP/ ST Debt           ICRA A1+     -       Withdrawn
Ltd
Apeejay Surrendra Park Hotels           FB Limits             ICRA A1+     300     outstanding
Ltd
Apeejay Surrendra Park Hotels           Non-FB Limits         ICRA A1+     150     outstanding
Ltd
Bapuji Education Association            ST-BG                 ICRA A1+     100     Reaffirmed
Baroda Asset Management India           Baroda                ICRA A1+mfs  -       outstanding
Ltd                                     Money Market Fund
Baroda Asset Management India           Baroda                ICRA A1+mfs  -       outstanding
Ltd                                     Ultra Short Duration Fund
Baroda Asset Management India           Baroda                ICRA A1+mfs  -       outstanding
Ltd                                     Liquid Fund
Baroda Asset Management India           Baroda                ICRA A2mfs   -
Ltd                                     Treasury Advantage Fund
Downgraded from ICRA A2+mfs and rating Withdrawn
Bfg International Pvt Ltd               ST Non Fund based     ICRA D       12.5
Review process underway
Celestial Knits & Fabs Pvt Ltd          ST FB                 ICRA A4      45
Issuer Not Cooperating
Celestial Knits & Fabs Pvt Ltd          ST Non-fund Based     ICRA A4      21
Issuer Not Cooperating
Consolidated Construction               ST – Non-Fund Based   ICRA D       12750
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Consolidated Construction               ST - Fund Based       ICRA D       1900
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Devi Marine Food Exports Pvt            ST - FB Fac           ICRA A3      650     Reaffirmed
Ltd
Devi Marine Food Exports Pvt            ST - Non-FB Fac       ICRA A3      30      Reaffirmed
Ltd
Dewan Housing Finance                   CP Programme          ICRA A3+     8500
Corporation Ltd
Downgraded from ICRA A2+@; @ On rating Watch with Negative Implications
East India Technologies Pvt Ltd         Non-FBL               ICRA A3+     100
Issuer not cooperating
Enterprising Enterprises                Short- Term Non Fund  ICRA A4      5
                                        based facility
Issuer Not Cooperating
Gallant Jewelry                         ST – Packing Credit   ICRA A4      60      Reaffirmed
Issuer delayed in giving information
Gallant Jewelry                         ST – PSDL             ICRA A4      63      Reaffirmed
Issuer delayed in giving information
Gallant Jewelry                         ST – Gold Card*       ICRA A4      24.6    Reaffirmed
Issuer delayed in giving information; *Standby limits under Gold Card Scheme for exporters
Ganganagar Commodity Ltd                Non-Fund Based Bk     ICRA A4      350
                                        Lines
Review process is underway
Ganganagar Commodity Ltd                Fund Based Bk Lines   ICRA A4      100
Review process is underway
Ganganagar Commodity Ltd                Unallocated Bk Lines  ICRA A4      150
Review process is underway
Globe Capital Market Ltd                CP programme          ICRA A1+     2000    outstanding
Review process is underway
Globe Fincap Ltd                        CP programme          ICRA A1+     500     outstanding
Review process is underway
Gonglu Agro Pvt Ltd                     ST - non-fund based   ICRA A2(SO)  50      Reaffirmed
Graphite India Ltd                      CP/ ST debt           ICRA A1+             Reaffirmed
Hanuman Foods                           ST FBL                ICRA A4      30
Issuer Not Cooperating
K G N Electricals                       Non-FB Fac            ICRA A4      200
continues to remain under Issuer Not Cooperating
Kader Exports Pvt Ltd                   ST - FB Fac           ICRA A3      700     Reaffirmed
Kader Exports Pvt Ltd                   ST - FB Fac           ICRA A3      -       Reaffirmed
                                        (sub-limit)
Kader Exports Pvt Ltd                   ST - Non-FB Fac       ICRA A3      87.9    Reaffirmed
Kader Investment & Trading              ST - FB Fac           ICRA A3      400     Reaffirmed
Company Pvt Ltd
Kader Investment & Trading              ST - FB Fac           ICRA A3      5       Reaffirmed
Company Pvt Ltd
Karnataka Roadlines Pvt Ltd             Non-Fund Based-BG     ICRA A4+     5
Issuer Not Cooperating
Kripton Ceramic Pvt. Ltd.               Non-fund based- BG    ICRA A4      11.6
Issuer Not Cooperating; Withdrawn
Kusum Metals Pvt Ltd                    ST Fund based         ICRA A4      300
Rating moved to ‘Issuer Not Cooperating’ category
Liberty Frozen Foods Pvt Ltd            ST - FB Fac           ICRA A3      170     Reaffirmed
Liberty Frozen Foods Pvt Ltd            ST - Non-FB Fac ST -  ICRA A3      5       Reaffirmed
                                        Non-FB Fac (sub-limit)
Lovin Tiles Llp                         Non-FBL               ICRA A4      17      Withdrawn
Luxmi Tea Company Pvt Ltd               FB-STloan             ICRA A1&     55*
(&Under rating watch with developing implications); *sub-limits of cash credit facility
Mahe Educational And                    ST - fund based       ICRA A4      36
Charitable Nri Trust
Rating continues to remain in ‘Issuer Not Cooperating’ category
Mahendra Roadlines Pvt Ltd              Non-Fund Based-BG     ICRA A4+     5
Issuer Not Cooperating
Mechemco Resins Pvt Ltd                 ST FB limits          ICRA A4      50      Reaffirmed
Mechemco Resins Pvt Ltd                 ST Non FB limits      ICRA A4      98      Reaffirmed
Midway Apparels India Pvt Ltd           Fund Based            ICRA A4      150
Review process underway
Nahar Capital And Financial             CP                    ICRA A1+     250
Services Ltd
Review process is underway
National Housing Bank                   CP                    ICRA A1+     70000   Reaffirmed
Nestor Pharmaceuticals Ltd              Non Fund Based- BG/   ICRA A4      160
                                        LOC
Rating continues to remain under ‘Issuer Not Cooperating’ category
Nova Carbons India Pvt Ltd              ST Fund based facilityICRA A4+     70
Rating continues to remain in ‘Issuer Not Cooperating’ category
Premier Marine Products Pvt             ST - FB Fac           ICRA A3      250     Reaffirmed
Ltd (Erstwhile Premier Marine
Products)
Premier Marine Products Pvt             ST - FB Fac           ICRA A3              Reaffirmed
Ltd (Erstwhile Premier Marine           (sub-limit)
Products)
Premier Marine Products Pvt             ST - Non-FB Fac       ICRA A3      40      Reaffirmed
Ltd (Erstwhile Premier Marine
Products)
Quess Corp Ltd                          ST FBL                ICRA A1+     80
Quess Corp Ltd                          ST Non-FBL            ICRA A1+     1020
Quess Corp Ltd                          CP                    ICRA A1+     2000
Rockwool India Pvt Ltd                  ST FB                 ICRA A4+     60
Ratings moved to ‘Issuer Not Cooperating’ category
Rockwool India Pvt Ltd                  ST non-FB             ICRA A4+     10
Ratings moved to ‘Issuer Not Cooperating’ category
Roj Leather Exports Pvt Ltd             ST - FB               ICRA A4+     100
Rating continues to remain in ‘Issuer Not Cooperating’ category
Roj Leather Exports Pvt Ltd             ST - Non FB           ICRA A4+     3
Rating continues to remain in ‘Issuer Not Cooperating’ category
Roj Leather Exports Pvt Ltd             ST - Interchangeable  ICRA A4+     -
Rating continues to remain in ‘Issuer Not Cooperating’ category
Sbm Bank (India) Ltd                    CD                    ICRA A1+     5000    Assigned
Sree Geethanjali Constructions          ST Non-FB             ICRA A4      87.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Standard Chartered Investments          CP                    ICRA A1+     20000   Reaffirmed
And Loans (India) Ltd
Subaya Constructions Co. Ltd            ST – Nonfund based    ICRA A4      305
rating continues to remain in Issuer Not Cooperating category
Sun Enterprise                          Non-fund based –      ICRA A4      100
                                        Export Packing Credit
Review process is underway
Sun Psyllium Industries                 Non-fund based –      ICRA A4      100
                                        Export Packing Credit
Review process is underway
Sunstar Precision Forge Ltd             Non-fund Based        ICRA A3+     5
Continues to remain under the ‘Issuer Not Cooperating’ category
Sushil Financial Services Pvt           ST FB Bk Fac          ICRA A4+     35      Reaffirmed
Ltd
Sushil Financial Services Pvt           ST non-fund based Bk  ICRA A4+     450     Reaffirmed
Ltd                                     Fac
Symcom Exim Pvt Ltd                     ST - NonFB            ICRA A4      550
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Tirumala Cotton & Agro                  ST - FBL              ICRA A4      120
Products Pvt Ltd
Revised from ICRA A4+
Ultramarine And Pigments Ltd            Short- Term Non Fund  ICRA A1      22.5
                                        based facility
Issuer yet to share information
Universal Cold Storage Pvt Ltd          ST - FB Fac           ICRA A3      -       Reaffirmed
                                        (Sub-Limit)
Universal Cold Storage Pvt Ltd          ST - Non-FB Fac       ICRA A3      51      Reaffirmed
Veeraj Construction                     ST – Non Fund Based   ICRA D       65
Revised from ICRA A4 issuer not cooperating; rating continues to remain in the ‘Issuer Not
Cooperating’ category
Virgo Aluminium Ltd                     ST Nonfund based      ICRA A2      292.5
Rating moved to the ‘Issuer Not Cooperating’ category

MEDIUM TERM RATINGS:
-------------------
Gove Finance Ltd                        Fixed Deposit         MA-          -       Reaffirmed
                                        Programme
Seyad Shariat Finance Ltd               Fixed Deposit         MA-          -
                                        Programme
Review process is underway
Sree Akkamamba Textiles Ltd             Fixed Deposit         MA-          140     Withdrawn
                                        Programme
The Tamilnadu Industrial                Fixed Deposits        MA           5000
Investment Corporation Ltd
Review process is underway

LONG TERM RATINGS:
-------------------
A B Motions Pvt Ltd                     LT – Fund Based – LRD ICRA BB+     732.9
                                        Loan
Issuer delayed in giving information
A N Associates                          LT Proposed Limits    ICRA BB      50
Issuer yet to share information
Aasra Foundations (Regd.)               Fund based – TL       ICRA D       1123    Reaffirmed
Issuer delayed in giving information
Aasra Foundations (Regd.)               Fund based –          ICRA D       177     Reaffirmed
                                        optionally
                                        convertible debenture
Issuer delayed in giving information
Aishwaryagiri Constructions             FB Fac                ICRA B+      300
Pvt Ltd
Continues to remain under the ‘Issuer Not Cooperating’ category
Aksh Optifibre Ltd                      Fund based - TL       ICRA BBB-    270     Withdrawn
Issuer Not Cooperating
Aksh Optifibre Ltd                      Fund based - Working  ICRA BBB-    600     Withdrawn
                                        Capital Fac
Issuer Not Cooperating
Alpha Milk Foods Pvt. Ltd.              Fund Based – TL       ICRA B+      240
Rating continues to remain in ‘Issuer Not Cooperating’ category
Ambition Logistics Park Pvt Ltd         FB -TL TL             ICRA A(SO)   755.1
Upgraded from ICRA BBB
Amit Engineers                          Fund Based – TL       ICRA B+      31
Rating continues to remain in ‘Issuer Not Cooperating’ category
Amit Engineers                          Fund Based- CC        ICRA B+      10
Rating continues to remain in ‘Issuer Not Cooperating’ category
Amit Engineers                          LT Non-fund based     ICRA B+      5
Rating continues to remain in ‘Issuer Not Cooperating’ category
Andhra Ferro Alloys Ltd                 Fund based            ICRA D       450
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Andhra Ferro Alloys Ltd                 Non Fund based        ICRA D       250
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Andhra Ferro Alloys Ltd                 Fund based            ICRA D       85
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Andhra Ferro Alloys Ltd                 Unallocated           ICRA D/ D    335
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Annapurna Finance Pvt Ltd-              PTC Series A1         ICRA A+(SO)  196.3   Withdrawn
Bron Ifmr Capital 2017
Annapurna Finance Pvt Ltd-              PTC Series A2         ICRA BBB+    14.8    Withdrawn
Bron Ifmr Capital 2017                                        (SO)
Annapurna Finance Pvt Ltd-              PTC Series A1         ICRA A+(SO)  131.4   Withdrawn
Tyrion Ifmr Capital 2017
Annapurna Finance Pvt Ltd-              PTC Series A1         ICRA A+(SO)  133.4   Withdrawn
Vivriti Cibus 013 2017
Annapurna Finance Pvt Ltd-              PTC Series A1         ICRA A(SO)   222.7   Withdrawn
Vivriti Valor 012 2017
Apeejay Surrendra Park Hotels           TL                    ICRA A+      4035.5  outstanding
Ltd
Apeejay Surrendra Park Hotels           FB Limits             ICRA A+      500     outstanding
Ltd
Apeejay Surrendra Park Hotels           Unallocated           ICRA A+ /    54.8    outstanding
Ltd                                                           ICRA A1+
Arihant Dream Infra Projects            LT Fund based/TL      ICRA D       149
Ltd
Continues to remain under the ‘Issuer Not Cooperating’ category
B.K.Threshers Pvt. Ltd                  Bk loan Ratings       ICRA B/ICRA  2400
                                                              A4
Issuer Not Cooperating
Bangalore Metallurgicals Pvt            LT-Fund Based CC      ICRA BB-     60
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Bangalore Metallurgicals Pvt            LT- TL                ICRA BB-     15
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Bapuji Education Association            LT – Overdraft        ICRA A+      200     Reaffirmed
                                        Facility
Bettiah Municipal Council               Issuer rating         ICRA B+      -
Issuer Not Cooperating
Bfg International Pvt Ltd               LT Fund based TL      ICRA D       30
Review process underway
Bfg International Pvt Ltd               LT Fund based facilityICRA D       100
Review process underway
Bfg International Pvt Ltd               LT/ST Unallocated     ICRA D/D     2.5
Review process underway
Bhadreshwar Vidyut Pvt Ltd              TL                    ICRA D       14974
Rating moved to the ‘Issuer Not Cooperating’ category
Bhadreshwar Vidyut Pvt Ltd              FBL – CC              ICRA D       1350
Rating moved to the ‘Issuer Not Cooperating’ category
Bhadreshwar Vidyut Pvt Ltd              Non-FBL – LC / BG     ICRA D       4300
Rating moved to the ‘Issuer Not Cooperating’ category
Bharat Agro Impex                       Fund based            ICRA B+      192.5
Issuer Not Cooperating
Bharat Agro Impex                       Non-fund based        ICRA B+      7
Issuer Not Cooperating
Bharat Agro Impex                       Fund based            ICRA B+      100.5
Issuer Not Cooperating
Bothe Windfarm Development Pvt          FB- TL                ICRA BBB-    10860
Ltd
Review process underway
Bothe Windfarm Development Pvt          FB- CC                ICRA BBB-    1500
Ltd
Review process underway
Carrycon India Ltd                      CC                    ICRA B       65
NDS Non Cooperation
Carrycon India Ltd                      BG                    ICRA B       33
NDS Non Cooperation
Carrycon India Ltd                      Unallocated           ICRA B       3
NDS Non Cooperation
Celestial Knits & Fabs Pvt Ltd          LT FB – CC            ICRA BB-     34
Issuer Not Cooperating
Consolidated Construction               LT - Fund Based/ CC   ICRA D       3800
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Consolidated Construction               LT - Fund Based TL    ICRA D       720.5
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Consolidated Construction               LT – Unallocated      ICRA D       450
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Consolidated Construction               NCDs                  ICRA D       500
Consortium Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Destination Industrial Parks            TL                    ICRA BBB+    125
Pvt Ltd
Upgraded from ICRA BBB
Dev Bhoomi Frozen Food Products         Fund Based - CC       ICRA B       25
Rating continues to remain in ‘Issuer Not Cooperating’ category
Dev Bhoomi Frozen Food Products         Fund Based - TL       ICRA B       60
Rating continues to remain in ‘Issuer Not Cooperating’ category Initial Amount (Rs. crore1)
Devi Marine Food Exports Pvt            LT - TL Fac           ICRA BBB-    9       Reaffirmed
Ltd
Devi Marine Food Exports Pvt            LT - FB Fac           ICRA BBB-    250     Reaffirmed
Ltd
Dhfl Pramerica Asset Managers           DHFL Pramerica Ultra  ICRA A+mfs   -
Pvt Ltd                                 ST Fund
Downgraded from ICRA AA+mfs@ and rating Withdrawn
Dhfl Pramerica Asset Managers           DHFL Pramerica Short  ICRA A+mfs   -
Pvt Ltd                                 Maturity Fund
Downgraded from ICRA AA+mfs@ and rating Withdrawn
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AA+mfs  -
Pvt Ltd                                 Floating Rate Fund
Downgraded from ICRA AAAmfs@ and rating Withdrawn
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -       Reaffirmed
Pvt Ltd                                 Dynamic Bond Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Insta  ICRA AAAmfs  -       Reaffirmed
Pvt Ltd                                 Cash Plus Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Bking  ICRA AAAmfs  -       Reaffirmed
Pvt Ltd                                 and PSU Debt Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -       Reaffirmed
Pvt Ltd                                 Premier Bond Fund
Dulam Rocks Pvt Ltd                     Fund based            ICRA B       58
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Dulam Rocks Pvt Ltd                     Unallocated           ICRA B       42
                                                              /ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
East India Technologies Pvt Ltd         FBL                   ICRA BBB     300
Issuer not cooperating
Energo Engineering Projects Ltd         LT- TL                ICRA D       227.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
Energo Engineering Projects Ltd         LT- Fund Based        ICRA D       1400
Rating continues to remain under ‘Issuer Not Cooperating’ category
Energo Engineering Projects Ltd         ST- Non Fund Based    ICRA D       11500
Rating continues to remain under ‘Issuer Not Cooperating’ category
Enterprising Enterprises                LT- TL                ICRA B       295
Issuer Not Cooperating
Evan Multi Specialty Hospital           Bk loan Ratings       ICRA D       270.5
And Research Centre Pvt Ltd
Review process underway
Fusion Microfinance (Pvt.) Ltd.         Vivriti Kenobi 002    ICRA A+(SO)  -       Withdrawn
                                        2018- PTC Series A2
Fusion Microfinance (Pvt.) Ltd.         Vivriti Blizzard 003  ICRA A+(SO)  -       Withdrawn
                                        2018- PTC Series A1
Fusion Microfinance (Pvt.) Ltd.         Vivriti Kenobi 002    ICRA         -       Withdrawn
                                        2018- PTC Series A1   AA-(SO)
Gail (India) Ltd                        LT/ST fund Based/ non ICRA AAA /   2500
                                        fund based-           ICRA A1+
                                        unallocated
Gangtok Municipal Corporation           Issuer rating         ICRA BB      -
Issuer Not Cooperating
Global Enviro Air Systems Pvt           FBL                   ICRA D       40
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Global Enviro Air Systems Pvt           NFBL                  ICRA D       37.5
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Global Enviro Air Systems Pvt           Unallocated Limits    ICRA D       12.5
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Globe Capital Market Ltd                LT Bk Lines           ICRA A+      9117    Assigned
Review process is underway
Globe Commodities Ltd                   LT Bk Lines           ICRA A+      1399.1  Assigned
Review process is underway
Globe Fincap Ltd                        LT/ST Bk Lines        ICRA A+/A1+  4940    Assigned
Review process is underway
Gonglu Agro Pvt Ltd                     TL Fac                ICRA         150.2   Reaffirmed
                                                              BBB+(SO)
outlook changed from Stable to Negative
Gonglu Agro Pvt Ltd                     LT - FB               ICRA         450     Reaffirmed
                                                              BBB+(SO)
outlook changed from Stable to Negative
Gonglu Agro Pvt Ltd                     LT/ST unallocated     ICRA         10      Reaffirmed
                                                              BBB+(SO) /
                                                              ICRA A2(SO)
outlook changed from Stable to Negative
Goodluck Carbon Pvt Ltd                 Fund Based-TL         ICRA D       727.4
Continues to remain under the ‘Issuer Not Cooperating’ category
Goodluck Carbon Pvt Ltd                 ST-Nonfund Based      ICRA D       40
Continues to remain under the ‘Issuer Not Cooperating’ category
Goodluck Carbon Pvt Ltd                 Fund Based-CC         ICRA D       300
                                                              /ICRA D
Continues to remain under the ‘Issuer Not Cooperating’ category
Graphite India Ltd                      NCD (NCD)             ICRA AA+             Reaffirmed
Graphite India Ltd                      FB Fac                ICRA AA+     6000    Reaffirmed
                                                              /A1+
Graphite India Ltd                      Non-FB Fac            ICRA AA+     4000    Reaffirmed
                                                              /A1+
Greentech Mega Food Park Pvt            LT – Fund Based – TL  ICRA BB-     300
Ltd                                     Amount Amount
Issuer Not Cooperating
Gs Malls Pvt Ltd                        LT – Fund Based – TL  ICRA BB      700
Issuer delayed in giving information
Hanuman Foods                           LT FBL                ICRA B       120
Issuer Not Cooperating
Hindustan Cotton Spinning Mills         LT – TL               ICRA BB-     39
Rating continues to remain in Issuer Not Cooperating category
Hindustan Cotton Spinning Mills         LT – CC               ICRA BB-     72.5
Rating continues to remain in Issuer Not Cooperating category
Hindustan Cotton Spinning Mills         LT - Unallocated      ICRA BB-     28.5
Rating continues to remain in Issuer Not Cooperating category
Icfai University Sikkim                 Working Capital       ICRA A+(SO)  150
                                        Demand Loan
Upgraded from ICRA A(SO) to ICRA A+(SO) and Withdrawn
Icfai University Sikkim                 TL                    ICRA B+      12.8    Withdrawn
Icfai University Sikkim                 Unallocated Limits    ICRA B+      97.2    Withdrawn
Icfaian Foundation                      Working Capital       ICRA A+(SO)  250
                                        Demand Loan
Upgraded from ICRA A(SO) to ICRA A+(SO) and Withdrawn
Indospace Industrial Park Pune          FB -TL                ICRA A(SO)   1460.9
Pvt Ltd
Upgraded from ICRA BBB
Jalan Synthetics                        Fund based - CC       ICRA BB-     140
Issuer Not Cooperating
K G N Electricals                       FB Fac                ICRA B+      50
continues to remain under Issuer Not Cooperating
Kader Exports Pvt Ltd                   LT - TL Fac           ICRA BBB-    34.2    Reaffirmed
Kader Exports Pvt Ltd                   LT - FB Fac           ICRA BBB-    450     Reaffirmed
Kader Investment & Trading              LT - TL Fac           ICRA BBB-    22.7    Reaffirmed
Company Pvt Ltd
Kader Investment & Trading              LT - FB Fac           ICRA BBB-    150     Reaffirmed
Company Pvt Ltd
Kader Investment & Trading              LT/ST Unallocated     ICRA BBB-    10      Reaffirmed
Company Pvt Ltd                                               /ICRA A3
Kamakhya Traders                        LT – Fund Based       ICRA B       60
Issuer Not Cooperating
Kamakhya Traders                        LT – Unallocated      ICRA B       10
Issuer Not Cooperating
Karnataka Roadlines Pvt Ltd             Fund Based-CC         ICRA BB+     500
Issuer Not Cooperating
Kissan Poultry (India) Pvt Ltd          Fund based            ICRA D       136.1
Issuer Not Cooperating
Kripton Ceramic Pvt. Ltd.               Fund based- CC        ICRA B+      30
Issuer Not Cooperating; Withdrawn
Kripton Ceramic Pvt. Ltd.               Fund based- TL        ICRA B+      36.8
Issuer Not Cooperating; Withdrawn
Kripton Ceramic Pvt. Ltd.               Unallocated           ICRA         33.2
                                                              B+/ICRA A4
Issuer Not Cooperating; Withdrawn
Krn Alloys Pvt Ltd                      LT Fund based/CC      ICRA B-      30
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Krn Alloys Pvt Ltd                      LT Fund based/TL      ICRA B-      53
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Krn Alloys Pvt Ltd                      LT Unllocated         ICRA B-      27.6
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Kusum Metals Pvt Ltd                    LT Fund based         ICRA B+      40
Rating moved to ‘Issuer Not Cooperating’ category
Lakshya Dairy Pvt Ltd                   LT - Fund Based/ CC   ICRA D       75
Issuer Not Cooperating Continues to remain under the ‘Issuer Not Cooperating’ category
Lakshya Dairy Pvt Ltd                   Unallocated           ICRA D       25
Continues to remain under the ‘Issuer Not Cooperating’ category
Liberty Frozen Foods Pvt Ltd            LT - FB Fac           ICRA BBB-    60      Reaffirmed
Lovin Tiles Llp                         FBL                   ICRA B       163     Withdrawn
Luxmi Tea Company Pvt Ltd               FB- TL                ICRA A&      980
(&Under rating watch with developing implications)
Luxmi Tea Company Pvt Ltd               FB-CC                 ICRA A&      295
(&Under rating watch with developing implications)
Mad Studios Pvt Ltd                     BLR                   ICRA D       175
Issuer Not Cooperating
Mahe Educational And                    LT – TL Fac           ICRA B+      54
Charitable Nri Trust
Rating continues to remain in ‘Issuer Not Cooperating’ category
Mahe Educational And                    LT - FB               ICRA B+      15
Charitable Nri Trust
Rating continues to remain in ‘Issuer Not Cooperating’ category
Mahendra Roadlines Pvt Ltd              Fund Based-CC         ICRA BB+     250
Issuer Not Cooperating
Maini Group Of Educational              LT - Fund Based – CC  ICRA B+      20
Society
Continues to remain under the ‘Issuer Not Cooperating’ category
Maini Group Of Educational              LT - Fund Based – TL  ICRA B+      70
Society
Continues to remain under the ‘Issuer Not Cooperating’ category
Maini Group Of Educational              LT - Unallocated      ICRA B+      5
Society
Continues to remain under the ‘Issuer Not Cooperating’ category
Mechemco Resins Pvt Ltd                 LT FB limits          ICRA BB-     90      Reaffirmed
outlook revised from Negative to Stable
Modern Agro Mills                       Fund Based- CC        ICRA B+      90
Rating continues to remain under ‘Issuer Not Cooperating’ category
National Housing Bank                   LT Borrowing ProgrammeICRA AAA     100000  Reaffirmed
Nav Vidya Society For                   LT - FB – TL          ICRA C+      543.5
Education Research & Training
Upgraded from ICRA D
Neotech Education Foundation            Fund based- TL        ICRA D       159
Rating continues to remain under ‘Issuer Not Cooperating’ category
Nestor Pharmaceuticals Ltd              Fund Based- CC        ICRA C+      510
Rating continues to remain under ‘Issuer Not Cooperating’ category
Nestor Pharmaceuticals Ltd              Unallocated Limits    ICRA         80
                                                              C+/ICRA A4
Ratings continue to remain under ‘Issuer Not Cooperating’ category
North Delhi Municipal                   Issuer rating         ICRA BB+
Corporation
ISSUER NOT COOPERATING; Withdrawn
Northern Arc Capital Ltd                Loan Fac              ICRA A- (SO)         Withdrawn
Borrower name - Volition Credit and Holdings Private Limited (Finmax)
Om Cotex                                FBL                   ICRA B+      210     Withdrawn
Omkar Infratech Ltd                     LT Fund based/CC      ICRA B       60
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Omkar Infratech Ltd                     LT Fund based/TL      ICRA B       20
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ostro Urja Wind Pvt Ltd                 TL                    ICRA BBB+    2569.6  Withdrawn
Issuer Not Cooperating
Pahal Financial Services Pvt.           PTC Series A          ICRA A(SO)   -       Withdrawn
Ltd.- Arwen Ifmr Capital 2018
Paramshakti Steels Ltd                  CC                    ICRA D       400
Continues to remain under the ‘Issuer Not Cooperating’ category
Paramshakti Steels Ltd                  TL                    ICRA D       22.2
Continues to remain under the ‘Issuer Not Cooperating’ category
Paramshakti Steels Ltd                  LT unallocated        ICRA D       750
Continues to remain under the ‘Issuer Not Cooperating’ category
Paramshakti Steels Ltd                  Non-fund based        ICRA D       950
Continues to remain under the ‘Issuer Not Cooperating’ category
Paramshakti Steels Ltd                  ST unallocated        ICRA D       1650
Continues to remain under the ‘Issuer Not Cooperating’ category
Piramal Sunteck Realty Pvt Ltd          FB- TL                ICRA A-      1000    Reaffirmed
Ponnu Food Products                     LT Fund based facilityICRA B       89
Rating continues to remain in ‘Issuer Not Cooperating’ category
Ponnu Food Products                     LT Unallocated        ICRA B       1
Rating continues to remain in ‘Issuer Not Cooperating’ category
Premier Marine Products Pvt             LT - FB Fac           ICRA BBB-    80      Reaffirmed
Ltd (Erstwhile Premier Marine
Products)
Quess Corp Ltd                          LT FBL                ICRA AA      8300
Quess Corp Ltd                          NCDs                  ICRA AA      1500
R.J. Rishikaran Projects Pvt            LT TL                 ICRA B       350
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rai Bahadur Raghbir Singh               LT – Fund Based – TL  ICRA B+      154.1
Educational Society
Review process is underway
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 2018                                  (SO)&
Series 1
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 2018                                  (SO)&
Series 2
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 2018                                  (SO)&
Series 3
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 2018                                  (SO)&
Series 4
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 2018                                  (SO)&
Series 7
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd-              PTC Series A          Provisional
Indian Receivable Trust 2019                                  ICRA
Series 1                                                      BBB(SO)&
Downgraded from Provisional ICRA AA(SO)&; &: The symbol implies that the ratings are under watch
with developing implications
Reliance Home Finance Ltd-              PTC Series A          Provisional
Indian Receivable Trust 2019                                  ICRA
Series 2                                                      BBB(SO)&
Downgraded from Provisional ICRA AA(SO)&; &: The symbol implies that the ratings are under watch
with developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA AAA             outstanding
Indian Receivable Trust 5                                     (SO)&
&: The symbol implies that the ratings are under watch with developing implications
Reliance Home Finance Ltd-              PTC Series A          ICRA BBB
Indian Receivable Trust 9                                     (SO)&
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd- Rhf          PTC Series A          ICRA BBB
Indian Receivable Trust 2 2017                                (SO)&
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd- Rhf          PTC Series A          ICRA BBB
Indian Receivable Trust 3 2017                                (SO)&
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Reliance Home Finance Ltd- Rhf          PTC Series A          ICRA BBB
Indian Receivable Trust I 2016                                (SO)&
Downgraded from ICRA AA(SO)&; &: The symbol implies that the ratings are under watch with
developing implications
Rnb International Pvt Ltd               LT – Fund Based – CC  ICRA B       110
Issuer Not Cooperating
Rockwool India Pvt Ltd                  Fund based-TL         ICRA BB+     105.4
outlook revised from Negative and ratings moved to ‘Issuer Not Cooperating’ category
Rockwool India Pvt Ltd                  Fund based-CC         ICRA BB+     70
outlook revised from Negative and ratings moved to ‘Issuer Not Cooperating’ category
Rockwool India Pvt Ltd                  LT / ST / non-fund    ICRA BB+ /   125
                                        based                 ICRA A4+
outlook revised from Negative and ratings moved to ‘Issuer Not Cooperating’ category
Royal Tyres Pvt Ltd                     FB – CC               ICRA D       4
Rating moved to ‘Issuer Not Cooperating’ category
Royal Tyres Pvt Ltd                     FB – TL               ICRA D       62.1
Rating moved to ‘Issuer Not Cooperating’ category
Royal Tyres Pvt Ltd                     FB – Packing credit   ICRA D       8
Rating moved to ‘Issuer Not Cooperating’ category
Royal Tyres Pvt Ltd                     Non-FB – BG and LOC   ICRA D       3
Rating moved to ‘Issuer Not Cooperating’ category
Royal Tyres Pvt Ltd                     LT and ST –           ICRA D       22.9
                                        Unallocated limits
Rating moved to ‘Issuer Not Cooperating’ category
S.V. Patel & Sons                       FB - TL               ICRA B+      7.3
Rating continues to remain in the ‘Issuer Not Cooperating’ category
S.V. Patel & Sons                       FB - CC               ICRA B+      65
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Saanj Aur Savera Educational            LT - Fund Based – TL  ICRA BB-     103
And Welfare Trust
Continues to remain under the ‘Issuer Not Cooperating’ category
Sahajanand Technologies Pvt Ltd         LT – FB CC            ICRA BB      149     Withdrawn
Sahajanand Technologies Pvt Ltd         LT – TL               ICRA BB      1       Withdrawn
Sargam Metals Pvt Ltd                   LT FB Fac             ICRA D       300
Issuer yet to share information
Sargam Metals Pvt Ltd                   Long- Term TL         ICRA D       25
Issuer yet to share information
Sargam Metals Pvt Ltd                   ST, NonFB Fac         ICRA D       85
Issuer yet to share information
Sarv India Home Furnishing              LT Fund Based – CC    ICRA BB-     21
Continues to remain under the ‘Issuer Not Cooperating’ category
Sarv India Home Furnishing              LT Fund Based – TL    ICRA BB-     65
Continues to remain under the ‘Issuer Not Cooperating’ category
Sarv India Home Furnishing              LT – Unallocate       ICRA BB-     14
Issuer Not Cooperating Continues to remain under the ‘Issuer Not Cooperating’ category
Sat Kartar Mining & Allied              FBL – TL              ICRA BB      40
Services Pvt Ltd
Downgraded from ICRA BBB-; Rating moved to the ‘Issuer Not Cooperating’ category
Sat Kartar Mining & Allied              FBL – CC              ICRA BB      84
Services Pvt Ltd
Downgraded from ICRA BBB-; Rating moved to the ‘Issuer Not Cooperating’ category Amount
Seth Roshan Lal Jain Trust              Fund Based - CC       ICRA BBB     250
Rating continues to remain in ‘Issuer Not Cooperating’ category
Shankar Parvati Industries              FB - TL               ICRA B+      6.2
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shankar Parvati Industries              FB - CC               ICRA B+      70
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shankar Parvati Industries              Unallocated Limits    ICRA B+      6.9
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Siddarth Intercrafts Pvt Ltd            Fund Based - CC       ICRA B+      25
Rating continues to remain in ‘Issuer Not Cooperating’ category
Siddarth Intercrafts Pvt Ltd            Unallocated           ICRA B+ /A4  75
Rating continues to remain in ‘Issuer Not Cooperating’ category Rating
Siddarth Organisation                   Fund Based - CC       ICRA B+      21.6
Rating continues to remain in ‘Issuer Not Cooperating’ category
Siddarth Organisation                   Unallocated           ICRA B+ /A4  78.4
Rating continues to remain in ‘Issuer Not Cooperating’ category
Siddarth Organisation Ltd               Fund Based - CC       ICRA B+      42
Rating continues to remain in ‘Issuer Not Cooperating’ category
Siddarth Organisation Ltd               Unallocated           ICRA B+ /A4  58
Rating continues to remain in ‘Issuer Not Cooperating’ category
Singh Transporters                      FBL – TL              ICRA BB+     70
Downgraded from ICRA BBB; Rating moved to the ‘Issuer Not Cooperating’ category
Singh Transporters                      FBL – CC              ICRA BB+     80
Downgraded from ICRA BBB; Rating moved to the ‘Issuer Not Cooperating’ category
Sree Geethanjali Constructions          FB                    ICRA B+      70
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sree Geethanjali Constructions          Unallocated           ICRA B+      2.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sree Kiran Enterprises                  LT – TL               ICRA D       370
Rating moved to ‘Issuer Not Cooperating’ category
Sri Siddirameshwar Agro                 CC                    ICRA B       450
Industries Pvt Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sri Siddirameshwar Agro                 TL                    ICRA B       2.2
Industries Pvt Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sri Siddirameshwar Agro                 Unallocated Limits    ICRA B       67.8
Industries Pvt Ltd                                            /ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sri Sri Ventures Pvt Ltd                FB Limit – TL         ICRA B+      60
Issuer Not Cooperating; Withdrawn
Srinath Trading Company                 Fund based            ICRA BB      260     Withdrawn
Standard Chartered Investments          NCD                   ICRA AAA     5000    Reaffirmed
And Loans (India) Ltd
Subaya Constructions Co. Ltd            LT – Fund based/CC    ICRA BB-     180
rating continues to remain in Issuer Not Cooperating category
Subaya Constructions Co. Ltd            LT/ST - Unallocated   ICRA         6.3
                                                              BB-/ICRA A4
rating continues to remain in Issuer Not Cooperating category*
Sun Enterprise                          Fund based – CC       ICRA BB-     50
Review process is underway
Sun Enterprise                          Fund based – Stand by ICRA BB-     20
                                        Limit
Review process is underway
Sun Psyllium Industries                 Fund based – CC       ICRA BB-     50
Review process is underway
Sun Psyllium Industries                 Fund based – Stand by ICRA BB-     20
                                        Limit
Review process is underway
Sunstar Precision Forge Ltd             FB – CC               ICRA BBB     380
Continues to remain under the ‘Issuer Not Cooperating’ category
Sunstar Precision Forge Ltd             FB – TL               ICRA BBB     65
Continues to remain under the ‘Issuer Not Cooperating’ category
Sunstar Precision Forge Ltd             Unallocated Limits    ICRA BBB     50
Continues to remain under the ‘Issuer Not Cooperating’ category
Swastik Traders                         LT Fund based/CC      ICRA B+      30
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Swastik Traders                         LT Non-fund based     ICRA B+      30
Rating continues to remain in the ‘Issuer Not Cooperating’ category Rated Amount
Symcom Communication                    BLR                   ICRA         250
                                                              B+/ICRA A4
Issuer Not Cooperating
Symcom Exim Pvt Ltd                     LT - Interchangeable  ICRA B
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Team Engineers Advance                  Fund based            ICRA B-      62.5
Technologies India. Pvt. Ltd.
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Team Engineers Advance                  Unallocated           ICRA B-      12.5
Technologies India. Pvt. Ltd.
Rating continues to remain in the ‘Issuer Not Cooperating’ category
The Tamilnadu Industrial                Bond Programme        ICRA A-(SO)  1500
Investment Corporation Ltd
Review process is underway
The Tamilnadu Industrial                LT Bk Fac             ICRA BBB+    11000
Investment Corporation Ltd
Review process is underway
Tirumala Cotton & Agro                  LT - FB limits        ICRA BB-     1092
Products Pvt Ltd
Revised from ICRA BB
Tirumala Cotton & Agro                  LT/ST - Unallocated   ICRA BB- /A4 42.2
Products Pvt Ltd                        limits
Revised from ICRA BB /A4+
Ultramarine And Pigments Ltd            LT Fund based         ICRA A+      75
Issuer yet to share information
Ultramarine And Pigments Ltd            LT unallocated        ICRA A+      52.5
Issuer yet to share information
Universal Cold Storage Pvt Ltd          LT - TL Fac           ICRA BBB-    12      Reaffirmed
Universal Cold Storage Pvt Ltd          LT - FB Fac           ICRA BBB-    600     Reaffirmed
Vaishnavi Rice Industries               Bk loan Ratings       ICRA BB-/A4  250
Review process is underway
Veeraj Construction                     LT – Fund based – CC  ICRA D       35
rating continues to remain in the ‘Issuer Not Cooperating’ category
Vins Bioproducts Ltd                    FB Unallocated        ICRA BBB+    150
Rating moved to ‘Issuer Not Cooperating’ category
Virgo Aluminium Ltd                     LT Fund based/CC      ICRA BBB+    222.5
Rating moved to the ‘Issuer Not Cooperating’ category
Virgo Aluminium Ltd                     LT unallocated        ICRA BBB+    35
Rating moved to the ‘Issuer Not Cooperating’ category


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