May 30, 2018 / 10:44 AM / 24 days ago

ICRA ratings for Indian debt instruments-May 30

    May 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 29, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Apeejay Shipping Ltd                    CP / STD              ICRA A1+     300
Review process is underway
Evergreen Veneers Pvt Ltd               Non-FBL               ICRA A4      130     Reaffirmed
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 83 – 91 Days Plan C
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 91 Days Plan Z
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 103 Days Plan O
Natural Remedies Pvt Ltd                ST – Non-fund based   ICRA A1      70
Upgraded from ICRA A1
Natural Remedies Pvt Ltd                ST – Interchangeable  ICRA A1      -
Upgraded from ICRA A2+
Solid State Systems Pvt Ltd             ST – Non Fund Based   ICRA A4      35.1
                                        Trust Name
Rating continues to remain in the ‘Issuer Not Cooperating’ category Rating Action
Sonkamal Enterprises Pvt Ltd            Non-FB Limits         ICRA A3      1200
Assigned/ outstanding
U P Telelinks Ltd                       ST-Fund Based working ICRA A4+     3
                                        capital
revised from ICRA A4
Zetatek Industries Ltd                  Non Fund based        ICRA A4      20
Reaffirmed and removed from issuer not cooperating category

LONG TERM RATINGS:
-------------------
Apeejay Shipping Ltd                    FB – CC               ICRA AA-     350
Review process is underway
Apeejay Shipping Ltd                    FB – TL               ICRA AA-     700
Review process is underway
Apeejay Shipping Ltd                    FB – TL               ICRA AA-     -
Review process is underway
Apeejay Shipping Ltd                    Non FB                ICRA AA-     -
Review process is underway
Apeejay Shipping Ltd                    Non FB                ICRA AA-     20
                                                              /A1+
Review process is underway
Evergreen Veneers Pvt Ltd               CC                    ICRA B       120     Reaffirmed
Evergreen Veneers Pvt Ltd               Unallocated limits    ICRA B /A4   30.5    Reaffirmed
Gaurishanker Bihani                     Fund Based- CC        ICRA B+      150     Reaffirmed
Gaurishanker Bihani                     Unallocated Limit     ICRA B+      50      Reaffirmed
Greater Hyderabad Municipal             Issuer Rating         ICRA A+      -
Corporation
Rating moved to the ‘Issuer Not Cooperating’ category
H.M. Industrial Pvt Ltd                 NCDs (NCD)            ICRA BB      60      Reaffirmed
H.M. Industrial Pvt Ltd                 Unallocated NCDs (NCD)ICRA BB      90      Reaffirmed
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 1185 Days Plan I
Icici Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Plan
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Dynamic Bond Fund
Icici Prudential Asset                  ICICI Prudential      ICRA AAmfs   -       Outstanding
Management Co. Ltd                      Corporate Bond Fund
India Infoline Finance Ltd              PTC Series A          ICRA AAA(SO) 1905.5
Provisional rating confirmed as final
Irc Agrochemicals Pvt Ltd               LT/ST-Fund based and  ICRA A+(SO)  9200    Assigned
                                        Non-Fund based        /ICRA A1(SO)
Irc Agrochemicals Pvt Ltd               LT/ST-Fund based and  Provisional  2050    Assigned
                                        Non-Fund based        ICRA
                                                              A+(SO)/ Provisional ICRA A1(SO)
J M Constructions Company               Fund based- CC        ICRA BB-     35
Reaffirmed and removed from issuer not cooperating category
J M Constructions Company               Non-Fund based- BG    ICRA BB-     50
                                                              /ICRA A4
Reaffirmed removed from issuer not cooperating category
Kamala Board Box Pvt. Ltd.              Bk Fac                ICRA B+      80
Issuer not cooperating
Kotak Urja Pvt Ltd                      LT – CC               ICRA D       220
Rating moved to the ‘Issuer Not Cooperating’ category
Kotak Urja Pvt Ltd                      LT – TL               ICRA D       80
Rating moved to the ‘Issuer Not Cooperating’ category
Kotak Urja Pvt Ltd                      LT – LOC              ICRA D       50
Rating moved to the ‘Issuer Not Cooperating’ category
Kotak Urja Pvt Ltd                      LT – BG               ICRA D       70
Rating moved to the ‘Issuer Not Cooperating’ category
Kotak Urja Pvt Ltd                      LT/ST – Unallocated   ICRA D       165.7
Rating moved to the ‘Issuer Not Cooperating’ category
Mishtann Foods Ltd                      FB – Working Capital  ICRA BBB     250     Assigned
Modrina Auto Enterprises                Bk Fac                ICRA BB-     160
moved to Issuer not cooperating category due to non-submission of monthly ‘No Default Statement’
(“NDS”) by the entity
Mundra Port Pty Ltd                     TL                    ICRA AA-(S)  2880
Re Assigned from ICRA AA-(SO)
Muthoot Microfin Ltd                    PTC Series A1         ICRA A(SO)   -       Withdrawn
Muthoot Microfin Ltd                    PTC Series A2         ICRA BBB(SO) -       Withdrawn
Natural Remedies Pvt Ltd                LT – FB               ICRA A       500
Upgraded from ICRA A-
Raiganj Municipality                    Issuer Rating         ICRA BB-     -       Assigned
Ramesh Company                          FB CC                 ICRA B+      140     Reaffirmed
Ramesh Company                          Unallocated Limit     ICRA B+      60      Reaffirmed
                                                              /ICRA A4
Solid State Systems Pvt Ltd             LT – CC               ICRA BB-     47.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Solid State Systems Pvt Ltd             LT – TL               ICRA BB-     32
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sonkamal Enterprises Pvt Ltd            FB Limits             ICRA BBB-    300
Assigned/ outstanding
Sonkamal Enterprises Pvt Ltd            FB Sublimit - under   ICRA BBB-    -       Assigned
                                        Non-FB Limits
Speciality Restaurants Ltd              LT/ST, FB/Non-FB Fac  ICRA A+      1000    Withdrawn
                                        Rating action         /ICRA A1
U P Telelinks Ltd                       CC                    ICRA BB      76.7
revised from ICRA BB-
U P Telelinks Ltd                       Unallocated           ICRA BB      20.3
revised from ICRA BB-
Waterline Hotels Pvt Ltd                Fund Based-TL         ICRA B-      270     Reaffirmed
Western India Transport                 PTC Series A1         ICRA A-(SO)  115.3
Finance Company Pvt Ltd -
Sanchez Cv Northern Arc Capital 2018
Provisional rating confirmed as final
Zetatek Industries Ltd                  CC                    ICRA BB-     55
Upgraded from ICRA B+ and removed from issuer not cooperating category
Zetatek Industries Ltd                  BG                    ICRA BB-     100
Reaffirmed and removed from issuer not cooperating category
Zetatek Industries Ltd                  Unallocated           ICRA BB-     55
Upgraded from ICRA B+ /ICRA A4 reaffirmed and removed from issuer not cooperating
--------------------------------------------------------------------------------------------
$: 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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