November 12, 2019 / 9:13 AM / a month ago

ICRA ratings for Indian debt instruments-Nov 12

    Nov 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 11, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Abm Tele Mobiles India Pvt Ltd          Non-fund Based –      ICRA A3+     260     Reaffirmed
                                        Working Capital Fac
Bahadur Chand Investments Pvt           CP                    ICRA A1+     25000   outstanding
Ltd
Bandhan Bank Ltd                        Certificates of       ICRA A1+     30000   Reaffirmed
                                        Deposit
Chennai International                   ST, Non fund based    ICRA A1      980     Reaffirmed
Terminals Pvt Ltd
Chennai International                   ST; Proposed          ICRA A1      2262.1  Reaffirmed
Terminals Pvt Ltd
Deepak Industries Ltd                   Non-FB Fac            ICRA A1+     287.5   Reaffirmed
Gruh Finance Ltd                        CP                    ICRA A1+     -       Withdrawn
Industrial Solvents &                   Non-FBL               ICRA A1+     539     Reaffirmed
Chemicals Pvt Ltd
International Seaports                  ST non-fund based     ICRA A2+     190     Reaffirmed
(Haldia) Pvt Ltd
Kikani Exports Pvt Ltd                  Fund based- Working   ICRA A4      2250    Reaffirmed
                                        Capital Fac
Medreich Ltd                            ST – Fund Based       ICRA A1+     3714.4  Reaffirmed
Rajputana Industries Pvt Ltd            ST – Non fund Based   ICRA A4      82.5    Withdrawn
Issuer Not Cooperating
Sree Lakshmi Venkateswara               ST Non-Fund based – BGICRA A4      4       Assigned
Spinning Mills Pvt Ltd
State Bank Of India                     Certificates of       ICRA A1+     415000  outstanding
                                        Deposits
MEDIUM TERM RATINGS:
-------------------
Gruh Finance Ltd                        Fixed Deposits        MAA (Stable) 0       Revised from
                                        Programme                                  MAAA@ and
                                                                                   withdrawn
State Bank Of India                     Medium Term Deposits  -            -       outstanding

LONG TERM RATINGS:
-------------------
Abm Tele Mobiles India Pvt Ltd          Fund Based – Working  ICRA BBB     1500    Reaffirmed
                                        Capital Fac           (Stable)
Bahadur Chand Investments Pvt           LT Borrowing ProgrammeICRA AA      12000   outstanding
Ltd                                                           (Stable)
Bahadur Chand Investments Pvt           NCD Programme         ICRA AA      5000    outstanding
Ltd                                     (proposed)            (Stable)
^ carved out from previously rated long-term borrowing programme
Bahadur Chand Investments Pvt           NCD Programme         ICRA AA      15000   outstanding
Ltd                                                           (Stable)
Bandhan Bank Ltd                        Subordinated Tier II  ICRA AA      1600    Reaffirmed
                                        NCD
‘rating watch with Developing implications’ removed and ‘stable’ , outlook
Bandhan Bank Ltd                        TL from Bks           ICRA AA      800     Reaffirmed
‘rating watch with Developing implications’ removed and ‘stable ’, outlook
Chennai International                   LT, TL                ICRA AA      874.3   Reaffirmed
Terminals Pvt Ltd                                             (CE)(Stable)
Deepak Industries Ltd                   FB -TL                ICRA AA-     800     Reaffirmed
                                                              (Stable)
Deepak Industries Ltd                   FB - Working Capital  ICRA AA-     260.7   Reaffirmed
                                        Fac                   (Stable)
Gruh Finance Ltd                        NCD Programme         ICRA AA      -       Revised from
                                                              (Stable)             ICRA AAA@
                                                                                   And
                                                                                   withdrawn
Gruh Finance Ltd                        NCD Programme#        ICRA AA      -       Revised from
                                                              (Stable)             ICRA AAA@
                                                                                   And
                                                                                   withdrawn
#Instruments are outstanding and transferred to the merged entity, Bandhan Bank Limited
Gruh Finance Ltd                        Subordinated Debt     ICRA AA      -       Revised from
                                        Programme             (Stable)             ICRA AAA@
                                                                                   And
                                                                                   withdrawn
Industrial Solvents &                   TL                    ICRA A+      0       Withdrawn
Chemicals Pvt Ltd                                             (Stable)
Industrial Solvents &                   FBL                   ICRA A+      750     Reaffirmed
Chemicals Pvt Ltd                                             (Stable)/
                                                              ICRA A1+
International Seaports                  LT/ST unallocated     ICRA BBB+    411     Reaffirmed
(Haldia) Pvt Ltd                                              (Stable)/A2+
International Seaports                  LT FB                 ICRA         100     Reaffirmed
(Haldia) Pvt Ltd                                              BBB+(Stable)
Kikani Exports Pvt Ltd                  Fund based- TL        ICRA BB      600     Reaffirmed
                                                              (Stable)
Mahateja Rice Mills Pvt Ltd             LT - Fund Based/CC    ICRA BB      180     Assigned
                                                              (Stable)
Mahateja Rice Mills Pvt Ltd             LT - Fund Based/TL    ICRA BB      30      Assigned
                                                              (Stable)
Mahateja Rice Mills Pvt Ltd             LT / ST –Unallocated  ICRA BB      40      Assigned
                                                              (Stable) /
                                                              ICRA A4+
Medreich Ltd                            LT/ST – Unallocated   -            -       -
Medreich Ltd                            LT – FB TL            ICRA A+      1003.1  Reaffirmed
                                                              (Stable)
Rajputana Industries Pvt Ltd            LT - Fund Based/CC    ICRA B+      36      Withdrawn
                                                              (Stable)
Issuer Not Cooperating
Rajputana Industries Pvt Ltd            LT - Fund Based/TL    ICRA B+      149     Withdrawn
                                                              (Stable)
Issuer Not Cooperating
Rajputana Industries Pvt Ltd            LT/ST – Unallocated   ICRA         82.5    Withdrawn
                                                              B+(Stable)
                                                              / ICRA A4
Issuer Not Cooperating
Soma Indus Varanasi Aurangabad          Fund based - TL       ICRA BB &    23330   &
Tollway Pvt Ltd
placed on watch with developing implications,
&Under Rating Watch with Developing Implications
Sree Lakshmi Venkateswara               LT – FB – CC          ICRA BB      100     Assigned
Spinning Mills Pvt Ltd                                        (Stable)
Sree Lakshmi Venkateswara               LT – FB – TL          ICRA BB      107.6   Assigned
Spinning Mills Pvt Ltd                                        (Stable)
State Bank Of India                     Basel III Compliant   ICRA AA+     35000   Assigned
                                        Tier I Bonds -        (hyb)
                                                              (Stable)
State Bank Of India                     Basel III Compliant   ICRA AA+     115000  Reaffirmed
                                        Tier I Bonds          (hyb)
                                                              (Stable)
^ Includes Rs 1,077.9 crore of bonds that are yet to be issued
State Bank Of India                     Basel III Compliant   ICRA AAA     157430  outstanding
                                        Tier II Bonds         (hyb)
                                                              (Stable)
State Bank Of India                     Lower Tier II Bonds   ICRA AAA     5000    outstanding
                                        Programme             (Stable)
Umang Dairies Ltd                       LT - Fund Based/CC    ICRA BBB-    350     Withdrawn
                                                              (Stable)
Umang Dairies Ltd                       LT - Fund Based/TL    ICRA BBB-    160     Withdrawn
                                                              (Stable)
--------------------------------------------------------------------------------------------
$: 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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