November 14, 2017 / 10:20 AM / 6 days ago

ICRA ratings for Indian debt instruments-Nov 14

   Nov 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 13, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ambuja Pipes Pvt Ltd                    Non Fund BasedLOC     ICRA A4      92.5    -
Issuer not cooperating
Bank Of India                           Corporate Governance  CGR2         -       Reaffirmed
                                        Practices
Fivebros Forgings Pvt. Ltd.             Fund basedForward     ICRA A4+     0.6     -
                                        Contract
Issuer not cooperating
Fivebros Forgings Pvt. Ltd.             Non fund basedBG      ICRA A4+     5       -
Issuer not cooperating
Fivebros Forgings Pvt. Ltd.             Non fund basedLOC     ICRA A4+     30      -
Issuer not cooperating
Goa Carbon Ltd                          ST unallocated        ICRA A3      400     Reaffirmed
Gokak Textiles Ltd                      Unallocated Limits    ICRA A4      738.1   Reaffirmed
(earlier nil)
Ic India Pvt. Ltd.                      ST – BG               ICRA A4      30      Reaffirmed
Jay Kishan Fibre Pvt Ltd                Fund basedWarehousing ICRA A4      50
                                        Loan
Issuer not cooperating
Jay Kishan Fibre Pvt Ltd                Non Fund Based –      ICRA A4      25
                                        Foreign Documentary
                                        Bills for Purchase
Issuer not cooperating
Jbj Technologies Ltd                    STFB                  ICRA A4      5.5     -
Issuer not cooperating
Jbj Technologies Ltd                    STNFB                 ICRA A4      7.5     -
Issuer not cooperating
Lavis Signature Panel Pvt Ltd           Non Fund Based – BG   ICRA A4      10
Issuer not cooperating
Lavis Signature Panel Pvt Ltd           Non Fund Based –      ICRA A4      50
                                        Forward Contract
Issuer not cooperating
Lavis Signature Panel Pvt Ltd           Non Fund Based – LOC  ICRA A4
                                        **
Issuer not cooperating ** sub-limit of cash credit facility
Maruti Papers Ltd                       NFBL                  ICRA A4+     20      -
Info and fee not provided
Noble Natural Resources India           ST FB Limits          ICRA A1+ (S) 2700    Reaffirmed
Pvt Ltd
Parasrampuria Engineers Pvt Ltd         Non-fund based LOC    ICRA A4+     150     -
Issuer not cooperating
Parasrampuria Engineers Pvt Ltd         Non-fund based –      ICRA A4+     40      -
                                        Forex Derivative
Issuer not cooperating
Repco Home Finance Ltd                  CP                    ICRA A1+     8000    assigned /
                                                                                   outstanding
Sabarmati Gas Ltd                       Non-fund              ICRA A1+     1615    Reaffirmed
                                        based-Working Capital
                                        Fac
Shriram City Union Finance Ltd          CP programme          ICRA A1+     20250   Reaffirmed
Sms Waluj Cetp Pvt Ltd                  ST Non-fund based     ICRA A3      5       Withdrawn
Sms Waluj Cetp Pvt Ltd                  ST Non-fund based     ICRA A3      5       Withdrawn
Tablets (India) Ltd                     ST: FB Fac – sublimit ICRA A2+             Reaffirmed
Tablets (India) Ltd                     ST: Non-FB Fac        ICRA A2+     80      Reaffirmed
Tablets (India) Ltd                     ST: Non-FB Fac –      ICRA A2+             Reaffirmed
                                        sub-limit
Tata Capital Financial                  ST Loans              ICRA A1+     13250   Outstanding
Services Ltd
Tata Capital Financial                  CP Programme          ICRA A1+     100000  Outstanding
Services Ltd
Vsp Enterprises Pvt Ltd                 Non Fund basedCC      ICRA A4+     100
Issuer not cooperating


MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          Fixed deposit         MAA+                 Reaffirmed
                                        programme

LONG TERM RATINGS:
-------------------
Agron Logistics India Pvt Ltd           Fund Based-CC         ICRA D       100     -
Issuer not cooperating
Ambuja Pipes Pvt Ltd                    Fund BasedCC          ICRA B       110     -
Issuer not cooperating
Ambuja Pipes Pvt Ltd                    Fund BasedTL          ICRA B       37.5    -
Issuer not cooperating
Avon Elastomers India                   FBL                   ICRA B+      75      Withdrawn
Avon Elastomers India                   LT Non-fund Based     ICRA B+      55      Withdrawn
Avon Elastomers India                   Unallocated (proposed ICRA B+      45      Withdrawn
                                        limits)
Brij Bhoomi Expressway Pvt Ltd          TL                    ICRA BBB     1500    Assigned
Bruhat Bengaluru Mahanagara             Issuer Rating         ICRA BB              Assigned
Palike
Buddha Sortex Rice Industries           FBL                   ICRA B+      67.5    Reaffirmed
Pvt Ltd
Issuer not cooperating
Cdet Explosive Industries Pvt           BLR                   ICRA BBB- /  400     -
Ltd                                                           ICRA A2
- Review process is underway
Cms It Services Pvt Ltd                 Fund based- Working   ICRA BBB-    150     Assigned
                                        Capital Fac
Cms It Services Pvt Ltd                 Fund Based/ Non- fund ICRA BBB-            Assigned
                                        basedInterchangeable
Cms It Services Pvt Ltd                 Non-fund              ICRA BBB-            Assigned
                                        based-Working Capital (Stable)/
                                        Fac                   ICRA A3;
Dindayal Jalan Textiles Ltd             LT fundbased          ICRA BB-     140     -
Issuer not cooperating
Energon Mp Wind Power Pvt Ltd           TL                    ICRA A-      1520    Reaffirmed
(revised from 151.17 CR)
Energon Mp Wind Power Pvt Ltd           Unallocated           ICRA A-      -       Reaffirmed
(revised from 6.83 CR)
Fivebros Forgings Pvt. Ltd.             Fund based-CC         ICRA BB+     70      -
Issuer not cooperating
Fivebros Forgings Pvt. Ltd.             Fund based-TL         ICRA BB+     9       -
Issuer not cooperating
Fivebros Forgings Pvt. Ltd.             Fund based / non fund ICRA BB+ /   10.4    -
                                        based - Unallocated   ICRA A4+
Issuer not cooperating
Giesecke & Devrient India Pvt.          Unallocated           -            -       -
Ltd.
(earlier 4.00 CR)
Giesecke & Devrient India Pvt.          FBL                   ICRA BBB+    491     Reaffirmed
Ltd.
(revised from 74.00 CR)
Giesecke & Devrient India Pvt.          NFBL                  ICRA BBB+ /  1150    Reaffirmed
Ltd.                                                          ICRA A2
(revised from 125.00 CR)
Goa Carbon Ltd                          LT FBL                ICRA BBB-    80      Reaffirmed
Goa Carbon Ltd                          ST non-FBL            ICRA BBB-    2050    Reaffirmed
Gokak Textiles Ltd                      ST FBL                -            -       Reaffirmed
(earlier 20.00 CR)
Gokak Textiles Ltd                      TL                    ICRA B+      487.8   Reaffirmed
(revised from 9.79 CR)
Gokak Textiles Ltd                      FB Working-capital    ICRA B+      443.5   Reaffirmed
                                        Limits
(revised from 137.15 CR)
Gowra Ventures Pvt. Ltd: Icra           Unallocated Limits    ICRA BB      100     ASSigned
Bb(Stable) Assigned
Ic India Pvt. Ltd.                      LT – CC               ICRA BB-     25      Upgraded
                                                                                   from ICRA B+
Ic India Pvt. Ltd.                      LT – TL               ICRA BB-     8       Upgraded
                                                                                   from ICRA B+
Jay Kishan Fibre Pvt Ltd                Fund based- CC        ICRA B       120
Issuer not cooperating
Jbj Technologies Ltd                    LTFB                  ICRA B       72.5    -
Issuer not cooperating
K.R.K Educational Trust                 LTFB                  ICRA C       300     -
Issuer not cooperating
Lavis Signature Panel Pvt Ltd           Fund based-TL         ICRA B+      51.2
Issuer not cooperating
Lavis Signature Panel Pvt Ltd           Fund based-CC         ICRA B+      100
Issuer not cooperating
Laxmi Cotton                            FBL                   ICRA B+      80      Reaffirmed
M/S. Perfect Communication              Fund based-CC         ICRA B+      60      -
Issuer not cooperating
Maharashtra Enviro Power Ltd            LT Unallocated        ICRA A-      100     Withdrawn
Maruti Papers Ltd                       FBL                   ICRA BB      150.1   -
Info and fee not provided
Neeta Developer                         Fund Based-TL         ICRA BB-     150     -
Issuer not cooperating
Noble Natural Resources India           LT/ ST Fundbased      ICRA         750     Reaffirmed
Pvt Ltd                                 Limits                AA-(S)/ICRA
                                                              A1+(S)
P.D. Industries Pvt Ltd                 BF                    ICRA BB+ /   300     -
                                                              ICRA A4+
- Review process is underway
Parasrampuria Engineers Pvt Ltd         Fund Based-TL         ICRA BB      60      -
Issuer not cooperating
Parasrampuria Engineers Pvt Ltd         Fund Based – CC       ICRA BB      120     -
Issuer not cooperating
Pramanik Metal Corporation              Fund based-CC         ICRA B       100     -
Issuer not cooperating
Ramkrishy Infrastructure Pvt            LT – Fund based       ICRA BBB- /  100     -
Ltd                                                           ICRA A3
- Issuer delayed in giving information
Ramkrishy Infrastructure Pvt            ST – Non Fund Based   ICRA BBB- /  450     -
Ltd                                                           ICRA A3
- Issuer delayed in giving information
Repco Home Finance Ltd                  NCDs                  ICRA AA-     5000    Outstanding
Repco Home Finance Ltd                  LT Bk Fac             ICRA AA-     15000   Outstanding
Sabarmati Gas Ltd                       Fund based-TL         ICRA AA-     632.2   Reaffirmed
Sabarmati Gas Ltd                       Fund based- Working   ICRA AA-     135     Reaffirmed
                                        Capital Fac
Sabarmati Gas Ltd                       LT/ST-Unallocated     ICRA AA-     198.5   Reaffirmed
Shri Agarwal Educational And            LTFB                  ICRA B+      210     Withdrawn
Cultural Society
Shri Agrawal Educational And            LT FB                 ICRA B+      210     Withdrawn
Cultural Society
Shriram City Union Finance Ltd          NCDs                  ICRA AA      250     Reaffirmed
Shyam Enterprises                       LT –FBL               ICRA B+      94.9    Withdrawn
Shyam Enterprises                       LT -unallocated LimitsICRA B+      21.1    Withdrawn
Sms Waluj Cetp Pvt Ltd                  LT FB                 ICRA BBB-    45      Withdrawn
Sms Waluj Cetp Pvt Ltd                  LT FB                 ICRA BBB-    45      Withdrawn
Svr Drugs Pvt Ltd                       Fund based-TL         ICRA BB      54.8    -
Issuer not cooperating
Svr Drugs Pvt Ltd                       Fund based-CC         ICRA BB      100     -
Issuer not cooperating
Svr Drugs Pvt Ltd                       Non-fund basedLOC     ICRA BB      25      -
Issuer not cooperating
Svr Drugs Pvt Ltd                       Unallocated           ICRA BB      200     -
Issuer not cooperating
Svr Laboratories Pvt Ltd                Fund based-CC         ICRA BB      60      -
Issuer not cooperating
Svr Laboratories Pvt Ltd                Non-Fund basedLOC     ICRA BB      15      -
Issuer not cooperating
Svr Laboratories Pvt Ltd                Non-fund basedBG      ICRA BB      2.5     -
Issuer not cooperating
Svr Laboratories Pvt Ltd                Non-fund basedForward ICRA BB      1.5     -
                                        Contract
Issuer not cooperating
Svr Laboratories Pvt Ltd                Unallocated           ICRA BB /    51      -
                                                              ICRA A4+
Issuer not cooperating
T A Pai Management Institute            LT – Unallocated      ICRA A-      294.6   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Tablets (India) Ltd                     LT: TL                ICRA A-              upgraded
                                                                                   from ICRA
                                                                                   BBB+
Tablets (India) Ltd                     LT: FB Fac            ICRA A-      325     upgraded
                                                                                   from ICRA
                                                                                   BBB+
Tablets (India) Ltd                     Proposed LT Fac       ICRA A-      198     upgraded
                                                                                   from ICRA
                                                                                   BBB+
Tamil Nadu Power Finance And            LT bond programmes    ICRA A-(SO)  1964.2  Reaffirmed
Infrastructure Development
Corporation Ltd
Tata Capital Financial                  NCDs Programme        ICRA AA+     20000   ASSigned
Services Ltd
Tata Capital Financial                  NCDs Programme        ICRA AA+     90319.3 Outstanding
Services Ltd
Tata Capital Financial                  Subordinated Debt     ICRA AA+     14054.5 Outstanding
Services Ltd                            Programme
Tata Capital Financial                  Perpetual Debt        ICRA AA+     7865.5  Outstanding
Services Ltd                            Programme
Tata Capital Financial                  LT FBL                ICRA AA+     115250%#Outstanding
Services Ltd
%includes Rs. 4,153 crore interchangeable between long term fund based
  limits and long term loans
#includes Rs. 700 crore interchangeable between long term fund based 
and long term non-fund based 
Tata Capital Financial                  LT Loans              ICRA AA+     16500   Outstanding
Services Ltd
Tata Capital Financial                  LT NFBL               ICRA AA+     5000    Outstanding
Services Ltd
Universal Freight Management            Fund based-CC         ICRA BB-     143     -
India Pvt Ltd
Issuer not cooperating
Universal Freight Management            Fund based / non fund ICRA BB-     107     -
India Pvt Ltd                           based - Unallocated
Issuer not cooperating
Vama Infra                              LT : FBL              ICRA BB      200     Reaffirmed
Issuer not cooperating
Vsp Enterprises Pvt Ltd                 Fund based-CC         ICRA BB+     100
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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