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ICRA ratings for Indian debt instruments-Nov 2
November 2, 2017 / 10:25 AM / 23 days ago

ICRA ratings for Indian debt instruments-Nov 2

    Nov 2 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 1, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Azine Healthcare Pvt Ltd                FB – CC               ICRA A4      25      -
(Issuer not cooperating)
Azine Healthcare Pvt Ltd                Non-fund BasedILG     ICRA A4      5       -
(Issuer not cooperating)
Best Crop Science Llp                   Non Fund Based        ICRA A4      150     -
(Issuer not cooperating) 
(sub-limit within overall CC limits of Rs.16.00 crore)
Delhi Waste Management Ltd              NFBL                  ICRA A3      5       -
(Issuer not cooperating)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         ST Principal          PP-MLDICRA   9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme          ICRA A1+     70000   Outstanding
Ltd
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     50000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     50000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     40000   Withdrawn
Ltd                                     financing)
Himangi Foods Pvt Ltd                   BG                    ICRA A4      102.7   Reaffirmed
(Issuer not cooperating)
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Iifl Facilities Services Ltd            ST debt programme     ICRA A1+     7000    Outstanding
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     50000   Outstanding
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Withdrawn
                                        financing)
Iifl Wealth Management Ltd              ST Debt programme     ICRA A1+     5000    Outstanding
India Infoline Finance Ltd              IPO financing         ICRA A1+     90000   Assigned
                                        programme
India Infoline Finance Ltd              IPO financing         ICRA A1+     60000   Withdrawn
                                        programme
India Infoline Finance Ltd              ST debt programme     ICRA A1+     70000   Outstanding
Industrial Chemical Works               FB – Packing Credit   ICRA A4      300     Reaffirmed
Industrial Chemical Works               Non-fund Based –      ICRA A4      200     Reaffirmed
                                        Inland/Import LC cum
                                        Buyer’s Credit
People'S Action For                     MFI Grading           M3           -       Assigned
Transformation
Shree Sakthi Vinayagar Weaves           Non-fund based – BG   ICRA A4      7.7     Assigned
Pvt Ltd
Shree Sakthi Vinayagar Weaves           Non-fund based – LOC  ICRA A4      75      Assigned
Pvt Ltd
Singer India Ltd                        Non FB                ICRA A3+     170     Assigned /
                                                                                   Outstanding
(enhanced from 13.00 CR)
Tgs Investment And Trade Pvt            CP Programme          ICRA A1+     8000    Outstanding
Ltd

LONG TERM RATINGS:
-------------------
Amon-Ra Impex Pvt Ltd                   BLR                   ICRA B+ /    200     -
                                                              ICRA A4
(Issuer not cooperating)
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA A(SO)   207.1   Assigned
Ashoka Foam Pvt Ltd                     FBL                   ICRA B+      150     -
Review under process
Azine Healthcare Pvt Ltd                FB – TL I             ICRA B       16.5    -
(Issuer not cooperating)
Azine Healthcare Pvt Ltd                FB – TL II            ICRA B       29.5    -
(Issuer not cooperating)
Azine Healthcare Pvt Ltd                Unallocated Limits    ICRA B       4       -
(Issuer not cooperating)
Best Crop Science Llp                   Fund Based- CC        ICRA B+      160     -
(Issuer not cooperating)
Best Crop Science Llp                   Fund Based- TL        ICRA B+      128.6   -
(Issuer not cooperating)
Best Crop Science Llp                   Unallocated Limits    ICRA B+      11.4    -
(Issuer not cooperating)
Delhi Waste Management Ltd              CC                    ICRA BBB-    40      -
(Issuer not cooperating)
Dream Digital                           BLR                   ICRA B- /    51.8    -
                                                              ICRA A4
(Issuer not cooperating)
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA /    110000  Outstanding
                                                              ICRA A1+
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   23500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      47000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Edelweiss Commodities Services          ST Principal          PP-MLDICRA   5000    Outstanding
Ltd                                     Protected Market      AA
                                        Linked Debenture Programme
Egret Sbl Ifmr Capital 2016             PTC Series A1         ICRA A(SO)   171     Upgraded
                                                                                   from ICRA
                                                                                   A-(SO)
Egret Sbl Ifmr Capital 2016             PTC Series A2         ICRA         13.8    Upgraded
                                                              BBB-(SO)             from ICRA
                                                                                   BB+(SO)
Emmvee Solar Systems Pvt Ltd            BLR                   ICRA BBB- /  182.6   -
                                                              ICRA A3
Issuer delayed in giving information
Expert Educational And                  LT Fund Based         ICRA BBB     500     -
Charitable Foundation
(Issuer not cooperating)
Finolite Ceramic                        BLR                   ICRA B /     235     -
                                                              ICRA A4
(Issuer not cooperating)
G R Gupta & Brothers                    LT:FBL                ICRA BB      400     -
(Issuer not cooperating)
Himangi Foods Pvt Ltd                   CC                    ICRA BB-     120     Reaffirmed
(Issuer not cooperating)
Himangi Foods Pvt Ltd                   TL                    ICRA BB-     61.3    Reaffirmed
(Issuer not cooperating)
Ifmr Capital Finance Pvt Ltd            PTC Series A2         ICRA B-(SO)  42.7    Reaffirmed
Ifmr Capital Finance Pvt Ltd            PTC Series A2         ICRA         43.4    Reaffirmed
                                                              BBB-(SO)
Iifl Facilities Services Ltd            Unsecured debt        ICRA AA      500     Outstanding
                                        programme
Iifl Facilities Services Ltd            LT debt programme     ICRA AA      7000    Outstanding
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   2000    Outstanding
                                                              AA
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   25500   Outstanding
                                                              AA
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      10000   Outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Indian Bank                             Lower Tier-II Bonds   ICRA AA+     5000    -
Industrial Chemical Works               FB – CC               ICRA BB      200     Reaffirmed
Jayshree Builders                       BLR                   ICRA B- /    750     -
                                                              ICRA A4
(Issuer not cooperating)
K. B. Products Pvt Ltd                  BLR                   ICRA B       70      -
(Issuer not cooperating)
K. C. Ferro & Rerolling Mills           BLR                   ICRA B+ /    231.5   -
Pvt Ltd                                                       ICRA A4
(Issuer not cooperating)
Kailash Cold Storage                    FB limits –CC         ICRA B       29.6    Withdrawn
Kailash Cold Storage                    FB limits – TL        ICRA B       38.3    Withdrawn
Kalpana Wines                           LT: FBL               ICRA BB+     40      -
(Issuer not cooperating)
Kalpana Wines                           LT: Unallocated LimitsICRA BB+     10      -
(Issuer not cooperating)
Leonard Exports                         Bk Fac                ICRA B+ /    70      -
                                                              ICRA A4
(Issuer not cooperating)
M/S. Kamakhya Traders                   LT – Fund Based       ICRA B       60      -
(Issuer not cooperating)
M/S. Kamakhya Traders                   LT – Unallocated      ICRA B       10      -
(Issuer not cooperating)
Mse Loan Pool Trust – X                 PTC Series A1         ICRA A+(SO)  205.3   Upgraded
                                                                                   from ICRA
                                                                                   A(SO)
Mse Loan Pool Trust – Xi                PTC Series A1         ICRA A(SO)   77.3    Reaffirmed
Rishiraj Education Foundation           FBTL                  ICRA D       98.5    Downgraded
                                                                                   from ICRA BB-
(Issuer not cooperating)
Rishiraj Education Foundation           FBCC                  ICRA D       30      Downgraded
                                                                                   from ICRA BB-
(Issuer not cooperating)
Rishiraj Education Foundation           NFB BG                ICRA D       20      Downgraded
                                                                                   from ICRA A4
(Issuer not cooperating)
Sarbamangala Agro Products Pvt          Bk Fac                ICRA D       60      -
Ltd
(Issuer not cooperating)
Satin Creditcare Network Ltd            PTC Series A2         ICRA         24.8    Withdrawn
                                                              BBB+(SO)
Satin Creditcare Network Ltd            PTC Series A3         ICRA         9.9     Withdrawn
                                                              BBB+(SO)
Satin Creditcare Network Ltd            PTC Series A1         ICRA         611.6   Withdrawn
                                                              BBB+(SO)
Satin Creditcare Network Ltd            PTC Series A          ICRA         988.7   Assigned
                                                              BBB+(SO)
Shree Sakthi Vinayagar Weaves           FB CC                 ICRA B+      49      Assigned
Pvt Ltd
Shree Sakthi Vinayagar Weaves           FB – TL               ICRA B+      15      Assigned
Pvt Ltd
Shree Sakthi Vinayagar Weaves           Unallocated limits    ICRA B+      75      Assigned
Pvt Ltd
Shree Yamuna Ginning And                FB CC                 ICRA B+      50      Reaffirmed
Pressing Factory
Shree Yamuna Ginning And                FB TL                 ICRA B+      6.7     Reaffirmed
Pressing Factory
(reduced from 0.93 CR)
Shree Yamuna Ginning And                Unallocated Limits    ICRA B+      7.3     Reaffirmed
Pressing Factory
(enhanced from 0.47 CR)
Sidwin Fabric Pvt Ltd                   FBL                   ICRA B+      70      Reaffirmed
Singer India Ltd                        FB – CC               ICRA BBB     130     Assigned /
                                                                                   Outstanding
(enhanced from 7.00 CR)
Sri Sankari Yarns Pvt Ltd               BLR                   ICRA BBB- /  350     -
                                                              ICRA A3
Reason for delay in carrying out periodic review: - Review process is underway.
Sturdy Industries Ltd                   TL**                  ICRA D       1124.8  Assigned
** Includes working capital term loans (WCTL) and funded interest term loans (FITL)
Sturdy Industries Ltd                   FB Limits             ICRA D       900     Assigned
Sturdy Industries Ltd                   Non-FBL               ICRA D       1334    Assigned
Sturdy Industries Ltd                   Unallocated Limits    ICRA D       141.2   Assigned
Sungraceenergy Solutions Pvt            BLR                   ICRA B+ /    100     -
Ltd                                                           ICRA A4
(Issuer not cooperating)
Tcil Lakhnadone Toll Road Ltd           TL                    ICRA BBB-    412     Assigned
Tgs Investment And Trade Pvt            NCD Programme         ICRA AA      2500    Assigned
Ltd
Tgs Investment And Trade Pvt            NCD Programme         ICRA AA      2500    Outstanding
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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