May 4, 2018 / 10:55 AM / 2 months ago

ICRA ratings for Indian debt instruments-May 4

    May 4 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 3, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Altech Infrastructure Pvt. Ltd.         ST: Non-Fund Based    ICRA A4      34
(Issuer Not Cooperating)
Anthem Cellutions (India) Pvt.          Non-FBL               ICRA A2      10      Withdrawn
Ltd.
Avadh Cotex Pvt Ltd                     ST FB - SLC           -            -       -
Bhaskar Prakashan Pvt Ltd               ST – Non-fund Based   ICRA A2+     15.5    Reaffirmed
Fortis Healthcare Holdings Pvt          CP                    ICRA A4      5000    Reaffirmed
Ltd
(Issuer Not Cooperating)
Hero Motocorp Ltd(Erstwhile             Non-FBL               ICRA A1+     1130    Reaffirmed
Hero Honda Motors Ltd.)
J.P. Engineers Pvt Ltd                  Non-FBL               ICRA A4+     1300    Withdrawn
Jindal Aluminium Ltd                    ST Non-FBL            ICRA A1+     300     Reaffirmed
Jindal Aluminium Ltd                    CP Programme          ICRA A1+     500     Reaffirmed
Jindal Steel & Power Ltd                ST non-FB Bk Fac      ICRA A3      39000   Upgraded
                                                                                   from ICRA D
Jindal Steel & Power Ltd                ST FB Bk Fac          ICRA A3      19111.1 Upgraded
                                                                                   from ICRA D
Kikani Exports Pvt Ltd                  Fund based- Working   ICRA A4      3970    Downgraded
                                        Capital Fac                                from ICRA A4+
Lambodhara Textiles Ltd                 Non FB Fac            ICRA A3+     15      Reaffirmed
Lambodhara Textiles Ltd                 Unallocated Fac       ICRA A3+     66.8    Reaffirmed
Lic Housing Finance Ltd                 CP Programme          ICRA A1+     100000  Assigned
Micromatic Grinding                     Non-Fund Based- Bk    ICRA A3      100     Upgraded
Technologies Ltd                                                                   from ICRA A4+
Micromatic Grinding                     Non-Fund Based-       ICRA A3      20      Upgraded
Technologies Ltd                        Foreign LOC (FLC)                          from ICRA A4+
Outshiny India Pvt Ltd                  ST–FB                 ICRA A4      180     Assigned
(Erstwhile Outshiny India
Apparels Pvt Ltd)
Sachdev Food Products                   Non FB Limits         ICRA A4      60      Reaffirmed
Sachdev Food Products Pvt Ltd           Non FB Limits         ICRA A4      60      Reaffirmed
Samasta Microfinance Ltd                CP programme          ICRA A1      5500    Assigned
                                                                                   /Outstanding
Smw Metal Pvt Ltd                       Non-FBL               ICRA A4+     350     Withdrawn
Vilas Transcore Ltd                     LOC                   ICRA A3+     570     Reaffirmed
Vilas Transcore Ltd                     Derivative Limits     ICRA A3+     18.2    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Jindal Aluminium Ltd                    Fixed Deposit         MAA          150     Upgraded
                                        Programme                                  from MAA-
LONG TERM RATINGS:
-------------------
A B Renewable Energy Pvt Ltd            Unallocated amount    ICRA BB-     240     Assigned
Altech Infrastructure Pvt. Ltd.         LT: Unallocated       ICRA B+      2.3
(Issuer Not Cooperating)
Altech Infrastructure Pvt. Ltd.         LT: Fund Based        ICRA B+      73.7
(Issuer Not Cooperating)
Anthem Cellutions (India) Pvt.          TL                    ICRA BBB+    40      Withdrawn
Ltd.
Anthem Cellutions (India) Pvt.          FBL                   ICRA BBB+    58.5    Withdrawn
Ltd.
Anthem Cellutions (India) Pvt.          Unallocated Limits    ICRA BBB+    11.5    Withdrawn
Ltd.                                                          /ICRA A2
Auraya Healthcare                       LT FB CC              ICRA BB      30      Upgraded
                                                                                   from ICRA BB-
Auraya Healthcare                       LT FB TL              ICRA BB      45      Upgraded
                                                                                   from ICRA BB-
Avadh Cotex Pvt Ltd                     LT FB - CC            ICRA B+      150     Reaffirmed
Avadh Cotex Pvt Ltd                     LT/ST - Unallocated   ICRA B+ /A4  19.5    Reaffirmed
                                        Limits
Bhaskar Prakashan Pvt Ltd               LT – FB               ICRA A-      157.5   Reaffirmed
Cholamandalam Investment And            PTC Series A1         ICRA AAA(SO) -       Withdrawn
Finance Co. Ltd-Platinum Trust
February 2017 – Tranche Iii
Dharmarathina Textiles Pvt Ltd          LT: FB Fac            ICRA B+      155     Revised from
                                                                                   ICRA D
Dharmarathina Textiles Pvt Ltd          LT: TL                ICRA B+      -       Revised from
                                                                                   ICRA D
Fortis Healthcare Holdings Pvt          NCDs                  ICRA B+      4900    Downgraded
Ltd                                                                                from ICRA BB
(Issuer Not Cooperating)
Hero Motocorp Ltd(Erstwhile             Issuer Rating         ICRA AAA     -       Reaffirmed
Hero Honda Motors Ltd.)
Hero Motocorp Ltd(Erstwhile             NCD Programme         ICRA AAA     150     Reaffirmed
Hero Honda Motors Ltd.)
Hero Motocorp Ltd(Erstwhile             FBL                   ICRA AAA     1771    Reaffirmed
Hero Honda Motors Ltd.)
Hero Motocorp Ltd(Erstwhile             Unallocated           ICRA AAA     1199    Reaffirmed
Hero Honda Motors Ltd.)
Hero Motocorp Ltd(Erstwhile             Fund Based and Non-FBLICRA AAA     6900    Reaffirmed
Hero Honda Motors Ltd.)                                       /ICRA A1+
India Shelter Finance                   NCD                   ICRA A-      790     Assigned
Corporation Ltd
India Shelter Finance                   NCD                   ICRA A-      710     outstanding
Corporation Ltd
India Shelter Finance                   Bk lines              ICRA A-      2500    outstanding
Corporation Ltd
India Shelter Finance                   PTC Series A1         ICRA AA+(SO) -       Withdrawn
Corporation Ltd-Aterno Ahl
Ifmr Capital 2014
J.I. Enterprises                        LT: Fund Based        ICRA B       64.4    -
(Issuer Not Cooperating)
J.P. Engineers Pvt Ltd                  FB Limits             ICRA BB+     150     Withdrawn
Jain Sons Finlease Ltd                  NCD Programme         ICRA BBB-    250     Reaffirmed
Jindal Aluminium Ltd                    TL                    ICRA AA      2200    Upgraded
                                                                                   ICRA AA-
Jindal Aluminium Ltd                    LT FBL                ICRA AA      3000    Upgraded
                                                                                   ICRA AA-
Jindal Steel & Power Ltd                LT FB Bk Fac          ICRA BBB-    -       Upgraded
                                                                                   from ICRA D
^ Includes term loans and cash credit facilities
Jindal Steel & Power Ltd                LT non-FB Bk Fac      ICRA BBB-    9000    Upgraded
                                                                                   from ICRA D
Jindal Steel & Power Ltd                LT unallocated        ICRA BBB-    13491.8 Upgraded
                                                                                   from ICRA D
Jindal Steel & Power Ltd                NCDs (NCD)            ICRA BBB-    15496   Upgraded
                                                                                   from ICRA D
Karvy Fintech Pvt Ltd                   NCD Programme         Provisional  4000    -
                                                              ICRA AA-(SO)
Kikani Exports Pvt Ltd                  Fund based- TL        ICRA BB      1049.9  re-affirmed
Lambodhara Textiles Ltd                 FB – Working capital  ICRA BBB     235     Reaffirmed
                                        Fac
Lambodhara Textiles Ltd                 FB - TL               ICRA BBB     318     Reaffirmed
Micromatic Grinding                     Fund Based- CC        ICRA BBB-    70      Upgraded
Technologies Ltd                                                                   from ICRA BB+
Outshiny India Pvt Ltd                  LT –FB –CC            ICRA BB-     65      Assigned
(Erstwhile Outshiny India
Apparels Pvt Ltd)
Patel Cotton Industries -               Fund based-CC         ICRA B+      100
Veraval
(Issuer Not Cooperating)
Sachdev Food Products                   FB Limits             ICRA BB-     79.1    Reaffirmed
Sachdev Food Products                   Unallocated Limits    ICRA BB-     5.9     Reaffirmed
                                                              /ICRA A4
Sachdev Food Products Pvt Ltd           FB Limits             ICRA BB-     75      Reaffirmed
Samasta Microfinance Ltd                LT Bk Fac             ICRA A       4000    outstanding
Samasta Microfinance Ltd                NCD programme         ICRA A       1500    outstanding
Shreyans Oil Ltd                        Fund Based- CC        ICRA BB-     60
(Issuer Not Cooperating)
Shreyans Oil Ltd                        Unallocated Limits    ICRA BB- /A4 25
(Issuer Not Cooperating)
Shubham Housing Development             PTC Series A2         ICRA A-(SO)  -       Upgraded
Finance Co. Ltd-Hebros                                                             from ICRA
Ahl Ifmr Capital 2014                                                              BBB(SO)
Shubham Housing Development             PTC Series A1         ICRA AA(SO)  -       Upgraded
Finance Co. Ltd-Hebros                                                             from ICRA
Ahl Ifmr Capital 2014                                                              A+(SO)
Shubham Housing Development             PTC Series A1         ICRA         -       Reaffirmed
Finance Co. Ltd-Wardar                                        BBB+(SO)
Ahl Ifmr Capital 2014
Shubham Housing Development             PTC Series A2         ICRA         -       Reaffirmed
Finance Co. Ltd-Wardar                                        BBB+(SO)
Ahl Ifmr Capital 2014
Smw Metal Pvt Ltd                       FB Limits             ICRA BB+     50      Withdrawn
Ujjivan Small Finance Bank              PTC Series A1         ICRA A+(SO)  -       Withdrawn
Ltd-Fubelt Ifmr Capital 2016
Ujjivan Small Finance Bank              PTC Series A2         ICRA         -       Withdrawn
Ltd-Fubelt Ifmr Capital 2016                                  BBB+(SO)
Ujjivan Small Finance Bank              PTC Series A          ICRA A(SO)   -       Withdrawn
Ltd-Maatalous 2016
Ve Commercial Vehicles Ltd              FB – Working Capital  ICRA AA+     3250    Reaffirmed
                                        Fac                   /ICRA A1+
Ve Commercial Vehicles Ltd              Non-fund Based –      ICRA AA+     1080    Reaffirmed
                                        Working Capital Fac   /ICRA A1+
Ve Commercial Vehicles Ltd              FB/Non-fund Based –   ICRA AA+     1190    Reaffirmed
                                        Working Capital Fac   /ICRA A1+
Vilas Transcore Ltd                     Unallocated limits    -            -
Vilas Transcore Ltd                     CC                    ICRA BBB     50      Reaffirmed
Vilas Transcore Ltd                     TL                    ICRA BBB     14.5    Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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