November 16, 2018 / 11:01 AM / a month ago

ICRA ratings for Indian debt instruments-Nov 16

    Nov 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 15, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     100000  Outstanding
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     50000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     5000    Outstanding
Ecl Finance Ltd                         ST Principal          PP-MLDICRA   9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Hayward Synthetics Pvt Ltd              ST -Non-FBL           ICRA A4      3.6     Withdrawn
Kala Genset Pvt Ltd                     Non-fund based (BG)   ICRA A3+     50      Reaffirmed
Karan Development Services              ST Non-fund Based     ICRA A4      100     Assigned /
Pvt. Ltd                                                                           Outstanding
Pitambara Foods                         Non-Fund basedLimit   ICRA A4      25      -
                                        –BG
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Raj Industries                          Non-fund Based        ICRA A2+     460     Reaffirmed
Range Ceramic Pvt Ltd                   Non-fund based BG     ICRA A4      24      Reaffirmed
Siddharth Carbochem Products            ST:Non-FBL            ICRA A4+     380.6   Reaffirmed
Ltd
Super Auto Forge Pvt Ltd                ST fund based         ICRA A1+     100     -
(Reason for delay in carrying out periodic review:-Review process is underway)
Super Auto Forge Pvt Ltd                ST fund based sublimitICRA A1+     --      -
(Reason for delay in carrying out periodic review:-Review process is underway)
Thakar Chemicals Ltd                    ST -Non Fund Based    ICRA A4      10      Withdrawn
Uni Ads Ltd                             ST -Non-fund Based    ICRA A3      30      Assigned
Vanita Agrochem (India) Pvt Ltd         ST –Non Fund Based    ICRA A3+     10      Reaffirmed
Vanita Agrochem (India) Pvt Ltd         ST –Non Fund Based    ICRA A3+     10      Reaffirmed

LONG TERM RATINGS:
-------------------
B.H.Cotton Pvt Ltd                      FB-CC                 ICRA B       70      Reaffirmed
Chandan Trading Company Pvt Ltd         Fund basedLimit –CC   ICRA B+      110     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ecl Finance Ltd                         Retail NCD Programme  ICRA AA      20000   Assigned
Ecl Finance Ltd                         Retail NCD Programme  ICRA AA      40000   Outstanding
Ecl Finance Ltd                         NCD Programme         ICRA AA      61362.5 Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA/A1+  180000  Outstanding
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   21116.3 Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Green Mobiles                           FB-Working Capital FacICRA BBB     4600    Assigned /
                                                                                   Outstanding
Green Mobiles                           Unallocated           ICRA BBB     400     Outstanding
Hayward Synthetics Pvt Ltd              LT/ST -FBL            ICRA B+/A4   150     Withdrawn
Hayward Synthetics Pvt Ltd              LT/ST -Unallocated    ICRA B+/A4   36.4    Withdrawn
                                        Limits
Kala Genset Pvt Ltd                     Fund based-Working    ICRA BBB     300     Reaffirmed
                                        Capital Fac
Karan Development Services              LT FB CC              ICRA BB-     100     Assigned /
Pvt. Ltd                                                                           Outstanding
Kothari Cars Pvt Ltd                    Fund based-Working    ICRA BBB     300     Reaffirmed
                                        Capital Fac
Pitambara Foods                         Fund basedLimit –CC   ICRA B+      35      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Raj Industries                          Fund Based -Working   ICRA A-      190     Reaffirmed
                                        Capital
Range Ceramic Pvt Ltd                   FB TL                 ICRA B+      117.8   Upgraded
                                                                                   from ICRA B
Range Ceramic Pvt Ltd                   FB CC                 ICRA B+      140     Upgraded
                                                                                   from ICRA B
Reliance Home Finance Ltd               Indian Receivable     Provisional  6342    Assigned
                                        Trust 2018 Series 2   ICRA AA
Reliance Home Finance Ltd               Indian Receivable     Provisional  8684.5  Assigned
                                        Trust 2018 Series 1   ICRA AA
S&J Granulate Solutions (P) Ltd         NCD                   ICRA D       50      Downgraded
                                                                                   from ICRA B
Siddharth Carbochem Products            LT: Fund based –CC    ICRA BB+     49.4    Reaffirmed
Ltd
Sri Nakoda Construction Ltd             Fund Based-TL         ICRA D       36.7    Downgraded
                                                                                   from ICRA BB+
Sri Nakoda Construction Ltd             Fund Based-CC         ICRA D       50      Downgraded
                                                                                   from ICRA BB+
Sri Nakoda Construction Ltd             Fund Based-UnallocatedICRA D       1413.3  Downgraded
                                                                                   from ICRA BB+
Stup Consultants Pvt Ltd                CC                    ICRA BBB+    100     Downgraded
                                                                                   from ICRA A-
Stup Consultants Pvt Ltd                BG                    ICRA BBB+    580     Downgraded
                                                                                   from ICRA A-
Super Auto Forge Pvt Ltd                LT fund based         ICRA AA-     200     -
(Reason for delay in carrying out periodic review:-Review process is underway)
Thakar Chemicals Ltd                    LT -Fund Based/ CC    ICRA BB-     150     Withdrawn
Uni Ads Ltd                             LT-Fund Based –CC     ICRA BBB-    35      Assigned
Uni Ads Ltd                             LT –Fund Based –TL    ICRA BBB-    155     Assigned
Vanita Agrochem (India) Pvt Ltd         Fund Based-Working    ICRA BBB     320     Reaffirmed
                                        Capital Fac
Vanita Agrochem (India) Pvt Ltd         Fund Based –TL        ICRA BBB     27.6    Reaffirmed
Vanita Agrochem (India) Pvt Ltd         Fund Based-Working    ICRA BBBB    320     Reaffirmed
                                        Capital Fac
Vanita Agrochem (India) Pvt Ltd         Fund Based –TL        ICRA BBBB    27.6    Reaffirmed


--------------------------------------------------------------------------------------------
$: 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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