May 9, 2019 / 10:19 AM / 2 months ago

ICRA ratings for Indian debt instruments-May 9

    May 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 8, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Glenrock Rubber Products Pvt            ST – FB               ICRA A4+     67.5    Withdrawn
Ltd
Glenrock Rubber Products Pvt            ST – Interchangeable  ICRA A4+     -       Withdrawn
Ltd
Glenrock Rubber Products Pvt            ST – Non-fund based   ICRA A4+     5       Withdrawn
Ltd
Iifl Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Iifl Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+     5000    Assigned
                                        Financing
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     30000   Outstanding
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Iifl Wealth Management Ltd              CP programme          ICRA A1+     5000    Outstanding
L&T Infra Debt Fund Ltd                 CP Programme          ICRA A1+     5000    Outstanding
Tata Motors Finance Ltd                 CP Programme          ICRA A1+     70000   Outstanding

LONG TERM RATINGS:
-------------------
Alliance Mall Developers                FB TL                 ICRA BBB-    500     Assigned
Company Pvt Ltd
Country Club Hospitality And            BLR                   ICRA D       3000
Holidays Ltd (Formerly Country
Club (India) Ltd)
Issuer not cooperating
Fincare Small Finance Bank              PTC Series A1         ICRA A(SO)   107
Ltd- Degea March 2018
Upgraded to ICRA A(SO) from ICRA A-(SO)
Fincare Small Finance Bank              PTC Series A1         ICRA A(SO)   265.3
Ltd- Juan Feb 2018
Upgraded to ICRA A(SO) from ICRA A-(SO)
Fincare Small Finance Bank              PTC Series A1         ICRA         6.6
Ltd- Salus Sbl Ifmr Capital                                   AAA(SO)
2016
Rating upgraded to ICRA AAA(SO) from ICRA AA(SO)
Glenrock Rubber Products Pvt            LT – FB               ICRA BB+     47      Withdrawn
Ltd
Glenrock Rubber Products Pvt            LT - Unallocated      ICRA BB+     29      Withdrawn
Ltd
Iifl Wealth Finance Ltd                 NCD Programme         ICRA AA      10000   Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      6500    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  10000   Outstanding
                                        protected market      AA
                                        linked debenture programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  35500   Outstanding
                                        protected market      AA
                                        linked debenture programme
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
Kiran Renewables Pvt Ltd                LT - TL               ICRA A       250     Withdrawn
L&T Infra Debt Fund Ltd                 NCD Programme         ICRA AAA     82000   Outstanding
L&T Infra Debt Fund Ltd                 LT MLD Programme      PP-MLD ICRA  5000    Outstanding
                                                              AAA
Modular Concepts Llc                    LT / ST, FB / Non-FB  ICRA BB/ A4+ 2000    Assigned
                                        Fac
Rai Bahadur Raghbir Singh               LT FB - TL            ICRA B+      154.1   Reaffirmed
Educational Society
Religare Finvest Ltd                    LT Debt Programme     ICRA D       2200
Downgraded from ICRA BB@ and removed from watch; @ - Rating Watch with Negative Implications
Religare Finvest Ltd                    Bk Limits             ICRA D/ICRA  90000
                                                              D
Downgraded from ICRA BB@/ICRA A4@ and removed from watch; @ - Rating Watch with Negative
Implications
Satya Microcapital Ltd.-                PTC Series A1         ICRA A(SO)   200
Northern ARC 2019 MFI Finnegan
Provisional rating confirmed as final
Satya Microcapital Ltd.-                PTC Series A2         ICRA         11.8
Northern ARC 2019 MFI Finnegan                                BBB(SO)
Provisional rating confirmed as final
Tata Motors Finance Ltd                 Perpetual Debt        ICRA A+      4150    Outstanding
                                        Programme
Tata Motors Finance Ltd                 Subordinated Debt     ICRA AA      23150   Outstanding
                                        Programme
Tata Motors Finance Ltd                 NCDs                  ICRA AA      40000   Outstanding
Tata Motors Finance Ltd                 Bk lines programme    ICRA AA/ A1+ 210050  Outstanding
The Clearing Corporation Of             Issuer Rating         ICRA AAA     -       Reaffirmed
India 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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