November 15, 2019 / 10:59 AM / 21 days ago

ICRA ratings for Indian debt instruments-Nov 15

    Nov 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 14, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Cil Nova Petrochemicals Ltd             Non-FBL               ICRA A3+(CE) 156.5   Downgraded
                                                                                   from ICRA
                                                                                   A2+(SO)
(Continues under ‘Issuer Not Cooperating’ category)
Bhatia Coke & Energy Ltd                ST non-fund based     ICRA D       755     -
(Rating continues to be under ‘Issuer Not Cooperating’ category)
Dsp Investment Managers Pvt Ltd         DSP Overnight Fund    ICRA A1+mfs  -       Outstanding
Ganpati Petrochemicals                  ST: Fund based        ICRA A3      30      Withdrawn
Ganpati Petrochemicals                  ST: Non fund based    ICRA A3      25      Withdrawn
Jaydeep Cotton Fibres Pvt. Ltd          Non-FBBG / LC         ICRA A3      -       -
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          Non-FBDerivative /    ICRA A3      45      -
                                        FC/CEL
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          Non-FB- LC Backed     ICRA A3      200     -
                                        Foreign Bill
                                        Discounting
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          FB -optionally        ICRA A3      30      -
                                        convertible debenture
                                        against FD
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          Non-FBTreasury        ICRA A3      20      -
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Kongovi Pvt Ltd                         ST - Interchangeable  ICRA A2      -       Revised from
                                                                                   ICRA A2+
Sterlite Technologies Ltd               ST CP                 ICRA A1+     4500    Reaffirmed
Sterlite Technologies Ltd               ST Non-FB Fac         ICRA A1+     28850   Reaffirmed
Vaibhav Gems                            ST FB                 ICRA A4      60      Withdrawn
Venkata Narayana Active                 ST-FB Fac             ICRA A4+     82      Withdrawn
Ingredients Pvt Ltd
(Issuer Not Cooperating)
Venkata Narayana Active                 Short -term- Non      ICRA A4+     235     Withdrawn
Ingredients Pvt Ltd                     Fundbased limits
(Issuer Not Cooperating)
Hemang Resources Ltd                    ST Non-Fund based Bk  ICRA D       770     -
                                        Fac
Rating continues to be under ‘Issuer Not Cooperating’ category
Hemang Resources Ltd                    ST Unallocated        ICRA D       1047.2  -
Rating continues to be under ‘Issuer Not Cooperating’ category
National Steel And Agro                 ST unallocated        ICRA D       2153    -
Industries Ltd
Rating continues to be under ‘Issuer Not Cooperating’ category
National Steel And Agro                 ST non-fund based     ICRA D       11995.2 -
Industries Ltd
Rating continues to be under ‘Issuer Not Cooperating’ category



LONG TERM RATINGS:
-------------------
A.S. Moloobhoy Pvt Ltd                  -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Anu Cashews                             -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Arkas Energy Llp                        FB Limits – TL        ICRA D       230     Downgraded
                                                                                   from ICRA
                                                                                   B/Stable
(Moved to ‘Issuer Not Cooperating’ category)
Bhatia Coke & Energy Ltd                LT FB CC              ICRA D       240     -
(Rating continues to be under ‘Issuer Not Cooperating’ category)
Bhatia Coke & Energy Ltd                LT FB TL              ICRA D       1108.3  -
(Rating continues to be under ‘Issuer Not Cooperating’ category)
Bhatia Coke & Energy Ltd                LT non-fund based     ICRA D       140     -
(Rating continues to be under ‘Issuer Not Cooperating’ category)
Bhatia Coke & Energy Ltd                LT unallocated        ICRA D       756.7   -
(Rating continues to be under ‘Issuer Not Cooperating’ category)
Cil Nova Petrochemicals Ltd             Fund Based - CC       ICRA         130     Downgraded
                                                              BBB(CE) /            from ICRA
                                                              Stable               A-(SO)
(Continues under ‘Issuer Not Cooperating’ category)
Citrus Alpha Marine Llp                 -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Danish Pvt Ltd                          -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Dsp Investment Managers Pvt Ltd         DSP Strategic Bond    ICRA AAAmfs  -       Upgraded
                                        Fund                                       from ICRA
                                                                                   AA+mfs
Dsp Investment Managers Pvt Ltd         DSP Ultra Short Fund  ICRA AAAmfs  -       Outstanding
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
Everest Gold Mart Pvt Ltd               CC                    ICRA         280     Withdrawn
                                                              BB+(Stable)
Ganpati Petrochemicals                  LT / ST: Unallocated  ICRA BBB-    75      Withdrawn
                                                              (Stable) /
                                                              A3
Ganpati Petrochemicals                  LT: Fund based        ICRA         45      Withdrawn
                                                              BBB-(Stable)
Ganpati Petrochemicals                  LT/ST: Fund based     ICRA BBB-    15      Withdrawn
                                                              (Stable) /
                                                              A3
Ge T&D India Ltd (Erstwhile             Fund based – Working  ICRA AA-     10000   Reaffirmed
Alstom T&D India Ltd)                   Capital Fac
(Outlook revised to Negative from Stable)
Ge T&D India Ltd (Erstwhile             Non-fund based – BG/LCICRA AA-/A1+ 52450   Reaffirmed
Alstom T&D India Ltd)
(Outlook revised to Negative from Stable)
Ge T&D India Ltd (Erstwhile             Unallocated           ICRA AA-/A1+ 7550    Reaffirmed
Alstom T&D India Ltd)
(Outlook revised to Negative from Stable)
Hemang Resources Ltd                    LT FB Bk Fac: CC      ICRA D       120     -
Rating continues to be under ‘Issuer Not Cooperating’ category
Hemang Resources Ltd                    LT Non FB Bk Fac      ICRA D       62.8    -
Rating continues to be under ‘Issuer Not Cooperating’ category
Hyderabad Metropolitan Water            -                     -            -       -
Supply And Sewerage Board
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Indian School Finance Company           PTC Series A2         ICRA A+(SO)  -       Withdrawn
Pvt Ltd - Inguz Sbl Ifmr
Capital 2016
Indian School Finance Company           PTC Series A1         ICRA AA-(SO) -       Withdrawn
Pvt Ltd - Inguz Sbl Ifmr
Capital 2016
Ireo Hospitality Company Pvt            -                     -            -       -
Ltd
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Jainalco Industries Pvt Ltd             -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Jaipur Integrated Texcraft              FB TL                 ICRA D       250     Revised from
Park Pvt Ltd                                                                       ICRA BB-
                                                                                   (Stable)
Jaydeep Cotton Fibres Pvt. Ltd          FB-TL                 ICRA BBB-    820     -
                                                              (Stable)
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          FB -CC                ICRA BBB-    105.4   -
                                                              (Stable)
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Jaydeep Cotton Fibres Pvt. Ltd          Unallocated Limits    ICRA BBB-    466.2   -
                                                              (Stable) /
                                                               A3
(Reason for delay in carrying out periodic review: - Issuer delayed in giving information)
Kepl Engineering Pvt Ltd                -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Kitturu Chennamma Poultry Farm          -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Kongovi Pvt Ltd                         LT - Fund Based/ CC   ICRA BBB+    250     Reaffirmed
                                                              /(Stable)
Kongovi Pvt Ltd                         LT - Fund Based TL    ICRA BBB+    460     Reaffirmed
                                                              /(Stable)
National (India) Contractors &          -                     -            -       -
Engineers
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
National Steel And Agro                 LT FB working capital ICRA D       2005.5  -
Industries Ltd                          Fac
Rating continues to be under ‘Issuer Not Cooperating’ category
National Steel And Agro                 LT FB TL              ICRA D       179.5   -
Industries Ltd
Rating continues to be under ‘Issuer Not Cooperating’ category
Royal Motors Gwalior Pvt Ltd            -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
S R Tranzcars Pvt Ltd                   -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Sesa Minerals Ltd                       FB – CC               ICRA D       350
(Rating downgraded from ICRA B+ (Stable) and moved to ‘Issuer Not Cooperating’ category)
Sesa Minerals Ltd                       FB – FDBP/FUDBP       ICRA D       200
(Rating downgraded from ICRA A4 and moved to ‘Issuer Not Cooperating’ category)
Sesa Minerals Ltd                       FB – Packing credit#  ICRA D       -
(Rating downgraded from ICRA A4 and moved to ‘Issuer Not Cooperating’ category) / #sub-limit of
FDBP/FUDBP
Sesa Minerals Ltd                       Non-Fund based – LOC  ICRA D       ^
(Rating downgraded from ICRA A4 and moved to ‘Issuer Not Cooperating’ category) / ^sub-limit of
cash credit
Shriram Transport Finance Co.           PTC Series A1         Provisional  2164.8  Confirmed as
Ltd - Sansar Trust May 2019 Ii                                ICRA AAA(SO)         Final
Shriram Transport Finance Co.           Second Loss Facility  Provisional  108.2   Confirmed as
Ltd - Sansar Trust May 2019 Ii                                ICRA                 Final
                                                              BBB+(SO)
Soma Indus Varanasi Aurangabad          -                     -            -       -
Tollway Pvt Ltd
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Spandana Sphoorty Financial             PTC Series A2         ICRA A+(SO)  -       Withdrawn
Ltd - Vivriti Cavalieri 06 2018
Sree Venkata Sreedevi Power Llp         LT: CC                CRA BB+      62      Reaffirmed
(Outlook revised to Negative from Stable)
Sree Venkata Sreedevi Power Llp         LT: TL                CRA BB+      31.2    Reaffirmed
(Outlook revised to Negative from Stable)
Sree Venkata Sreedevi Power Llp         LT: Unallocated limitsCRA BB+      26.8    Reaffirmed
(Outlook revised to Negative from Stable)
Sri Satya Bhaskara Poultry Farm         -                     -            -       -
Non submission of monthly ‘No Default Statement’ (“NDS”)/ Issuer not Cooperating
Sterlite Technologies Ltd               LT NCD Programme      ICRA AA      3000    Reaffirmed
Sterlite Technologies Ltd               LT Fund based-        ICRA AA      7050    Reaffirmed
                                        Working Capital Fac
Sterlite Technologies Ltd               LT Fund based-TL      ICRA AA      1680    Reaffirmed
Sterlite Technologies Ltd               LT/ST Interchangeable ICRA AA /    -       Reaffirmed
                                        Fac                   A1+
Sterlite Technologies Ltd               LT/ST Unallocated     ICRA AA /    2170    Reaffirmed
                                                              A1+
Sturdy Industries Ltd                   TL                    ICRA D       1124.8  Withdrawn
Sturdy Industries Ltd                   FB Limits             ICRA D       900     Withdrawn
Sturdy Industries Ltd                   Non- FBL              ICRA D       1334    Withdrawn
Sturdy Industries Ltd                   Unallocated limits    ICRA D       141.2   Withdrawn
Venkata Narayana Active                 TL                    ICRA         198.9   Withdrawn
Ingredients Pvt Ltd                                           BB+(Stable)
(Issuer Not Cooperating)
Venkata Narayana Active                 LT-FBL                ICRA         160     Withdrawn
Ingredients Pvt Ltd                                           BB+(Stable)
(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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below