May 7, 2019 / 11:26 AM / 4 months ago

ICRA ratings for Indian debt instruments-May 7

    May 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 6, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adcock Ingram Ltd                       ST FB Limits          ICRA A1+     400     Reaffirmed
Adcock Ingram Ltd                       ST Non-FBL            ICRA A1+     150     Reaffirmed
Apeejay Tea Ltd                         ST CP                 ICRA A2+     500     Revised from
                                                                                   ICRA A1+
Can Fin Homes Ltd                       Bk Fac – ST           ICRA A1+     9000    Reaffirmed
Can Fin Homes Ltd                       CP                    ICRA A1+     45000   Reaffirmed
Dhanuka Agritech Ltd                    Non-fund based –      ICRA A1+     333.5   Reaffirmed
                                        LC/BG
Industrial Chemical Works               FB – Packing Credit   ICRA A4+     30      Upgraded
                                                                                   from ICRA A4
Industrial Chemical Works               Non-fund based –      ICRA A4+     20      Upgraded
                                        Inland/Import LC                           from ICRA A4
                                        cum Buyer’s Credit
Mcleod Russel India Ltd                 Non-FB Bk Fac         ICRA A3      154.1   Revised from
                                                                                   ICRA A2+
MEDIUM TERM RATINGS:
-------------------
Can Fin Homes Ltd                       Fixed Deposits        MAAA         -       Reaffirmed
 
LONG TERM RATINGS:
-------------------
Adcock Ingram Ltd                       LT FB Limits#         ICRA A+      -       Reaffirmed
# Sub-limit of short-term fund-based limits
Adcock Ingram Ltd                       LT Non-FBL##          ICRA A+      -       Reaffirmed
## Interchangeable with short-term non-fund based limits
Apeejay Tea Ltd                         LT/ST-                ICRA A/ICRA  2000    Revised from
                                        Fundbased/Non-Fund Bk A2+                  ICRA A+/ICRA
                                        Fac                                        A1+
Ashok Handlooms Factory Pvt Ltd         LT: FB CC             ICRA B       56      Reaffirmed
Can Fin Homes Ltd                       NCD (NCD) Programme   ICRA AA+     71000   Revised from
                                                                                   ICRA AAA
Can Fin Homes Ltd                       Bk Fac – LT           ICRA AA+     111000  Revised from
                                                                                   ICRA AAA
Can Fin Homes Ltd                       Sub-ordinated Debt    ICRA AA+     3000    Revised from
                                        programme                                  ICRA AAA
Dhanuka Agritech Ltd                    Fund based - Working  ICRA AA-     300     Reaffirmed
                                        Capital Fac
Ds Drinks And Beverages Pvt.            LT FB Bk Fac (CC)     ICRA BB+     100     Assigned
Ltd.
Ds Drinks And Beverages Pvt.            LT FB Bk Fac (TL)     ICRA BB+     400     Assigned
Ltd.
Ds Drinks And Beverages Pvt.            LT/ ST- Unallocated   ICRA BB+     100     Assigned
Ltd.                                    Limits
Dsp Investment Managers Pvt Ltd         DSP Ultra Short Fund  ICRA AAAmfs& -       Upgraded
                                                                                   from ICRA
                                                                                   AA&mfs
&removed from rating watch with developing implications 
Dsp Investment Managers Pvt Ltd         DSP Savings Fund      ICRA AAAmfs  -       outstanding
Dsp Investment Managers Pvt Ltd         DSP ST Fund           ICRA AAAmfs  -       outstanding
Dsp Investment Managers Pvt Ltd         DSP Liquidity Fund    ICRA AAAmfs  -       outstanding
Dsp Investment Managers Pvt Ltd         DSP Bking & PSU Debt  ICRA AAAmfs  -       outstanding
                                        Fund
Dsp Investment Managers Pvt Ltd         DSP Strategic Bond    ICRA AAAmfs  -       outstanding
                                        Fund
Haldiram Products Pvt Ltd               FB Fac                ICRA A       100     Upgraded
                                                                                   from ICRA A-
Haldiram Products Pvt Ltd               Unallocated Limits    ICRA A       65      Upgraded
                                                                                   from ICRA A-
Industrial Chemical Works               FB – CC               ICRA BB+     20      Upgraded
                                                                                   from ICRA BB
Industrial Chemical Works               FB – CC               ICRA BB+     20      Upgraded
                                                                                   from ICRA BB
Mcleod Russel India Ltd                 TL                    ICRA BBB-    3600    Revised from
                                                                                   ICRA A
Mcleod Russel India Ltd                 FB Bk Fac             ICRA BBB-    4917.6  Revised from
                                                                                   ICRA A
Mcleod Russel India Ltd                 FB Bk Fac**           ICRA BBB-    1639.2  Revised from
                                                              /ICRA A3             ICRA A /ICRA
                                                                                   A2+
**Fungible with LT facilities
--------------------------------------------------------------------------------------------
$: 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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