May 21, 2018 / 11:25 AM / 3 months ago

ICRA ratings for Indian debt instruments-May 21

    May 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 18, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aadhar Housing Finance Ltd              CP Programme          ICRA A1+     12000   Assigned
(Formerly Known As Dhfl Vysya
Housing Finance Ltd)
Ajax Fiori Engineering (India)          Non-Fund Based        ICRA A1+     53.2    Reaffirmed
Pvt Ltd
Beko Dimon Fishing Co                   ST – Fund based       ICRA D       -       Downgraded
                                        facility                                   from ICRA A4
(Issuer Not Cooperating)
Belstar Investment And Finance          CP programme          ICRA A1      -       Withdrawn
Pvt Ltd
Hmc Mm Auto Ltd                         ST non-fund based PTC ICRA A1+     75      Reaffirmed
                                        Series A1
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     20000   outstanding
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     55000   outstanding
Lh Sugar Factories Ltd                  Non-FBL               ICRA A2+     -       Reaffirmed
Lh Sugar Factories Ltd                  ST FB limits          ICRA A2+     -       Assigned
Momentive Performance                   Non-FBL               ICRA A2+     100     Withdrawn
Materials (India) Pvt. Ltd.
Neel Auto Pvt Ltd                       ST: FBL               ICRA A2+     1314.8  Outstanding
Punjab And Sind Bank                    CDs Programme         ICRA A1+     100000  Reaffirmed
Rane Engine Valve Ltd                   ST non-fund based     ICRA A2      40      Reaffirmed
Shri Ganesh Fire Equipments             ST – Non-Fund Based   ICRA D       30      -
(P) Ltd
Surya Roshni Ltd                        CP Programme          ICRA A1+(SO) 3300    Reaffirmed
Surya Roshni Ltd                        CP Programme          Provisional  200     Reassigned
                                                              ICRA A1+(SO)         from ICRA
                                                                                   A1(SO)
@ Under rating watch with negative implications

LONG TERM RATINGS:
-------------------
Ajax Fiori Engineering (India)          CC                    ICRA AA      150     Upgraded
Pvt Ltd                                                                            from ICRA AA-
Ajax Fiori Engineering (India)          TL                    ICRA AA      500     Upgraded
Pvt Ltd                                                                            from ICRA AA-
Ajax Fiori Engineering (India)          Unallocated           ICRA AA      11.4    Upgraded
Pvt Ltd                                                                            from ICRA AA-
Annapurna Finance Pvt                   PTC Series A1         ICRA A-(SO)  -       Reaffirmed
Ltd-Aster Ifmr Capital 2017
Annapurna Finance Pvt Ltd-Bron          PTC Series A1         ICRA A+(SO)  -       Upgraded
Ifmr Capital 2017                                                                  from ICRA
                                                                                   A(SO)
Annapurna Finance Pvt Ltd-Bron          PTC Series A2         ICRA         -       Upgraded
Ifmr Capital 2017                                             BBB+(SO)             from ICRA
                                                                                   BBB(SO)
Annapurna Finance Pvt                   PTC Series A1         ICRA A+(SO)  -       Upgraded
Ltd-Tyrion Ifmr Capital 2017                                                       from ICRA
                                                                                   A(SO)
Annapurna Finance Pvt                   PTC Series A1         ICRA A+(SO)  -       Upgraded
Ltd-Vivriti Cibus 013 2017                                                         from ICRA
                                                                                   A-(SO)
Annapurna Finance Pvt                   PTC Series A1         ICRA A(SO)   -       Upgraded
Ltd-Vivriti Valor 012 2017                                                         from ICRA
                                                                                   A-(SO)
Aryadhan Financial Solutions            LT Bk Lines (Fund     ICRA BB+     500     Assigned
Pvt Ltd                                 based/non-fund based)
Beko Dimon Fishing Co                   LT – Unallocated      ICRA D       -       Downgraded
                                                                                   from ICRA BB-
(Issuer Not Cooperating)
Belstar Investment And Finance          NCD Programme         ICRA A       700     Reaffirmed
Pvt Ltd
Belstar Investment And Finance          Subordinated debt     ICRA A       300     Reaffirmed
Pvt Ltd                                 Programme
Hmc Mm Auto Ltd                         TL                    ICRA AA      80      Reaffirmed
Hmc Mm Auto Ltd                         LT fund based/ CC     ICRA AA      245     Reaffirmed
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      1500    Assigned
                                        programme
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    outstanding
                                        programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   2000    outstanding
                                        protected market      AA
                                        linked debenture programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLDICRA   25500   outstanding
                                        protected market      AA
                                        linked debenture programme
Jana Small Finance Bank- Ltd            PTC Series A2         ICRA C-(SO)  -       Downgraded
Leonardo Ifmr Capital 2016                                                         from ICRA
                                                                                   B(SO)
Jana Small Finance Bank- Ltd            PTC Series A1         ICRA C+(SO)  -       Downgraded
Leonardo Ifmr Capital 2016                                                         from ICRA
                                                                                   BB-(SO)
Lh Sugar Factories Ltd                  FB limits             ICRA A-      -       Assigned
                                                                                   /Reaffirmed
Lh Sugar Factories Ltd                  TL                    ICRA A-      -       Reaffirmed
M3M India Pvt Ltd                       LT FB limits          ICRA BBB     6000    Reaffirmed
M3M India Pvt Ltd                       LT non-FBL            ICRA BBB     700     Reaffirmed
Magma Fincorp Ltd-Mfl                   Second Loss Facility  Prov ICRA    227     Assigned
Securitisation Trust LXV                                      BBB-(SO)
Magma Fincorp Ltd-Mfl                   PTC Series A1         Provisional  2890.7  Assigned
Securitisation Trust LXV                                      ICRA
                                                              AAA(SO)
Magma Fincorp Ltd-Mfl                   PTC Series A2         Provisional  136.2   Assigned
Securitisation Trust LXV                                      ICRA AAA(SO)
Magma Fincorp Ltd-Mfl                   Liquidity Facility    Provisional  45.4    Assigned
Securitisation Trust LXV                                      ICRA AAA(SO)
Mahima Real Estate Pvt Ltd              Fund based            ICRA BBB+    700     Reaffirmed
Momentive Performance                   FBL                   ICRA BBB+    470     Withdrawn
Materials (India) Pvt. Ltd.
Neel Auto Pvt Ltd                       Fund based- CC        -            -       -
Neel Auto Pvt Ltd                       TL                    ICRA BBB+    250     Outstanding
Neel Auto Pvt Ltd                       LT/ST: FBL            ICRA BBB+ /  900     Outstanding
                                                              ICRA A2+
Neel Auto Pvt Ltd                       Unallocated limits    ICRA BBB+ /  10      Outstanding
                                                              ICRA A2+
Prayagraj Power Generation Co.          TL                    ICRA D       114930  Reaffirmed
Ltd
Prayagraj Power Generation Co.          CC                    ICRA D       7000    Reaffirmed
Ltd
Prayagraj Power Generation Co.          Non-FB limits         ICRA D       2120    Reaffirmed
Ltd                                     (derivates)
Prayagraj Power Generation Co.          Non-FB limits         ICRA D       1000    Reaffirmed
Ltd                                     (working capital)
Punjab And Sind Bank                    Basel III compliant   ICRA A+(hyb) 10000   Reaffirmed
                                        Tier I Bonds
Punjab And Sind Bank                    Basel II Compliant    ICRA AA      11750   Reaffirmed
                                        Lower Tier II Bonds
Rajapushpa Properties Pvt Ltd           Fund based – CC       -            -       -
Rajapushpa Properties Pvt Ltd           Fund based - TL       ICRA BB+     600     Reaffirmed
Rajapushpa Properties Pvt Ltd           Unallocated Limits    ICRA BB+     250     Reaffirmed
Rane Engine Valve Ltd                   TL                    ICRA BBB     464.4   Reaffirmed
Rane Engine Valve Ltd                   LT fund based         ICRA BBB     1068    Reaffirmed
Rane Engine Valve Ltd                   LT unallocated        ICRA BBB     19.9    Reaffirmed
Shri Ganesh Fire Equipments             LT - Fund Based/ CC   ICRA D       30      -
(P) Ltd
(Issuer Not Cooperating)
Srilanand Mansions Pvt Ltd              TL                    ICRA BBB-    400     Reaffirmed
Srilanand Mansions Pvt Ltd              Non-FB Fac            ICRA BBB-    100     Reaffirmed
Wanderland Real Estates Pvt.            Issuer Rating         ICRA B+      -       Assigned
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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