November 20, 2017 / 10:45 AM / 2 months ago

ICRA ratings for Indian debt instruments-Nov 20

    Nov 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 17, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aachi Spices And Foods Pvt Ltd          ST – Non-FB Fac       ICRA A2     1.9     Reaffirmed
Cyient Ltd                              Corporate Governance  CGR2+        -       Assigned
                                        Practices
Ginni Filaments Ltd                     ST non-fund based Bk  ICRA  A4+   531     -
                                        Fac
Issuer not cooperating
Grow Well Mercantile Pvt Ltd            Non-fund based - LOC  ICRA A4     2400    Upgraded
                                                                                   from ICRA D
Il&Fs Transportation Networks           CP Programme          ICRA A1     5000    Outstanding
Ltd
Indoco Remedies Ltd                     ST, FB Fac            ICRA A1+    200     Reaffirmed
Indoco Remedies Ltd                     ST, Non-FB Fac        ICRA A1+    132.5   Reaffirmed
Indoco Remedies Ltd                     CP Programme          ICRA A1+    250     Reaffirmed
Kiran Gems Pvt Ltd                      ST, non FB limits     ICRA A1     2100    Reaffirmed
Kredence Multi Trading Ltd              Non-fund based - LOC  ICRA A4     2400    Reaffirmed
Mangalore Cashew Industries             ST – Fund Based       ICRA A4     90      -
Reason for delay in carrying out periodic review: - Review process is underway
Pon Pure Chemical India Pvt Ltd         ST, Non-FB Fac        ICRA A2     3210    Upgraded
                                                                                   from
                                                                                   ICRA A3+
Pon Pure Chemical India Pvt Ltd         Proposed Fac          ICRA A2     779.8   Upgraded
                                                                                   from
                                                                                   ICRA A3+
Prism Cement Ltd                        ST, FB Fac            ICRA A1     800     Reaffirmed
Prism Cement Ltd                        ST, FB Fac            ICRA A1     1920    Reaffirmed
Sagar Grandhi Exports Pvt Ltd           ST FB Fac             ICRA A2+    640     Upgraded
                                                                                   from ICRA 
                                                                                   A2
Sagar Grandhi Exports Pvt Ltd           ST non-FB Fac         ICRA A2+    30      Upgraded
                                                                                   from ICRA 
                                                                                   A2
Sai Industries Pvt Ltd                  FB limit – Packing    ICRA A3     40      Assigned
                                        credit
Sanchita Frozen Foods Pvt Ltd           ST Non-FBL            ICRA A4+    100     -
Issuer did not co-operate; based on best available information
Sanchita Marine Products Pvt            ST Non-FBL            ICRA A4+    550     -
Ltd
Issuer did not cooperate; based on best available information
Suprabha Protective Products            ST – Interchangeable  ICRA A3     -       -
Pvt Ltd
Issuer did not co-operate; based on best available information
Yes Bank Ltd                            CD Programme          ICRA A1+    100000  Outstanding
Yes Bank Ltd                            ST Fixed Deposit      ICRA A1+    -       Outstanding
                                        Programme

MEDIUM TERM RATINGS:
-------------------
Sri Sarvaraya Sugars Ltd                Fixed Deposit         MB+          50      -
                                        Programme



LONG TERM RATINGS:
-------------------
Aachi Spices And Foods Pvt Ltd          LT – TL               ICRA BBB+   19.2    Reaffirmed
Aachi Spices And Foods Pvt Ltd          LT – FB Fac           ICRA BBB+   130     Reaffirmed
Aachi Spices And Foods Pvt Ltd          Proposed LT Fac       Provisional 300     Reassigned
                                                              ICRA BBB+
Aircel Ltd                              FB/NonFBL             ICRA D      174790^ Revised from
                                                                                   ICRA BB-
^These limits are consolidated for Aircel Group; interchangeable among Aircel Limited, Aircel
Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited / ISSUER NOT
COOPERATING
Aircel Smart Money Ltd                  FB/NonFBL             ICRA D      174790^ Revised from
                                                                                   ICRA BB-
^These limits are consolidated for Aircel Group; interchangeable among Aircel Limited, Aircel
Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited / ISSUER NOT
COOPERATING
Basantdevi Charitable Trust             FBlimit- TL           ICRA D      150     Downgraded
                                                                                   from ICRA BB
ISSUER NOT COOPERATING
Big Fly Hygiene Products Ltd            TL                    ICRA B-     16.6    -
Issuer not cooperating
Big Fly Hygiene Products Ltd            CC                    ICRA B-     65      -
Issuer not cooperating
Big Fly Hygiene Products Ltd            Unallocated Limits    ICRA B-     14.9    -
Issuer not cooperating
Dedicated Freight Corridor              Issuer Rating         ICRA AAA    -       Assigned
Corporation Of India Ltd
Della Adventure & Resorts Pvt           LT FB limitsTL        ICRA B+     373.8   Revised from
Ltd                                                                                ICRA BB-
Dishnet Wireless Ltd                    FB/NonFBL             ICRA D      174790^ Revised from
                                                                                   ICRA BB-
^These limits are consolidated for Aircel Group; interchangeable among Aircel Limited, Aircel
Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited / ISSUER NOT
COOPERATING
Dlf Promenade Ltd                       NCDs                  ICRA AA     3750    Reaffirmed
Eastern Gases Ltd                       Fund based-CC         ICRA D      410     -
Issuer Not Cooperating
Eastern Gases Ltd                       Non-Fund basedBG      ICRA D      60      -
Issuer Not Cooperating
Ginni Filaments Ltd                     LT nonconvertible     ICRA  BB+   43      -
                                        debentures
Issuer not cooperating
Ginni Filaments Ltd                     LT fund - based Bk FacICRA  BB+   3577    -
Issuer not cooperating
Ginni Filaments Ltd                     LT non-fund based Bk  ICRA  BB+   49      -
                                        Fac
Issuer not cooperating
Greenwood High Trust                    FB-TL                 ICRA A+     64      Reaffirmed
Greenwood High Trust                    FB- Working Capital   ICRA A+     94.5    Reaffirmed
                                        Fac
Greenwood High Trust                    Unallocated Fac       ICRA A+     341.5   Reaffirmed
Il&Fs Transportation Networks           Non- Convertible      ICRA A      20000   Outstanding
Ltd                                     DebenturesExisting
Il&Fs Transportation Networks           FB Bk Lines (TL)      ICRA A      4900    Outstanding
Ltd
Il&Fs Transportation Networks           Fund- based Bk Lines  ICRA A      3200    Outstanding
Ltd
Il&Fs Transportation Networks           Preference Share      ICRA A-     7600    Outstanding
Ltd
Il&Fs Transportation Networks           NCDs                  ICRA AA+    7500    Outstanding
Ltd
Il&Fs Transportation Networks           NCDs                  Provisional  1505    Assigned
Ltd                                                           ICRA AA+
Il&Fs Transportation Networks           NCDs                  Provisional  20995   Outstanding
Ltd                                                           ICRA AA+
Indiabulls Housing Finance Ltd          PTCs                  ICRA AAA    3157.1  Reaffirmed
Indoco Remedies Ltd                     Long-TL               ICRA AA-    1650    Reaffirmed
Indoco Remedies Ltd                     LT, FB Fac            ICRA AA-    974     Reaffirmed
Jay Palghar Net Co.                     TL                    ICRA B      22.5    Assigned
Jay Palghar Net Co.                     CC Limit              ICRA B      7.5     Assigned
Kalinga Breeding Farms Pvt Ltd          LT - Fund Based       ICRA B      61.3    Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Kalinga Breeding Farms Pvt Ltd          LT / ST –Unallocated  ICRA B / A4 38.7    Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Kiran Gems Pvt Ltd                      LT, FB limits         ICRA A+     24000   Reaffirmed
Kiran Gems Pvt Ltd                      LT / ST, unallocated  ICRA A+ /   150     Reaffirmed
                                        limits                A1
Machinfabrik Industries Pvt Ltd         -                     -            -       -
ICRA has moved the rating of Machinfabrik Industries Private Limited to the ‘ISSUER NOT
COOPERATING’ category due to non submission of monthly ‘No Default Statement’
Mahalaxmi Cashew Industries             LT - Fund Based (CC)  ICRA B+     60      -
Reason for delay in carrying out periodic review: - Review process is underway
Mahalaxmi Cashew Industries             LT – TL               ICRA B+     100
Reason for delay in carrying out periodic review: - Review process is underway
Malpefresh Marine Export Pvt            LT- Fund Based        ICRA B      100     -
Ltd
Reason for delay in carrying out periodic review: - Issuer delayed in giving information
Mandalia Overseas Corporation           Bk Loans              ICRA D      100     -
Issuer not cooperating
Mangalore Cashew Industries             LT - Fund Based (CC)  ICRA BB     190     -
Reason for delay in carrying out periodic review: - Review process is underway
Mangalore Cashew Industries             TL                    ICRA BB     15      -
Reason for delay in carrying out periodic review: - Review process is underway
Nambiar Builders Pvt Ltd                Fund based – TL       ICRA BBB-   750     Reaffirmed
Ozone Urbana Infra Developers           LT – Fund Based TL    ICRA BBB    7000    Reaffirmed
Pvt Ltd
Pan India Infraprojects Pvt Ltd         TL                    ICRA BBB    6224    Reaffirmed
Pan India Infraprojects Pvt Ltd         Unallocated Limits    ICRA BBB    5776    Reaffirmed
Pon Pure Chemical India Pvt Ltd         Long –term, FB Fac    ICRA BBB+   1280    Upgraded
                                        (CCs)                                      from
                                                                                   ICRA BBB
Pon Pure Chemical India Pvt Ltd         LT, FB Fac (TL)       ICRA BBB+   150.2   Upgraded
                                                                                   from
                                                                                   ICRA BBB
Pragatej Builders & Developers          Bk Loans              ICRA D      200     -
Pvt Ltd
Issuer not cooperating
Prism Cement Ltd                        NCD Programme         ICRA A-     5600    Reaffirmed
Prism Cement Ltd                        TL                    ICRA A-     10805   Reaffirmed
Prism Cement Ltd                        LT, FB Fac            ICRA A-     2979    Reaffirmed
Prism Cement Ltd                        LT / ST, FB Fac       ICRA A- /   400     Reaffirmed
                                                              A1
Prism Cement Ltd                        LT / ST, Non-FB Fac   ICRA A- /   1100    Reaffirmed
                                                              A1
Sagar Grandhi Exports Pvt Ltd           TL Fac                ICRA A-     138.7   Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Sagar Grandhi Exports Pvt Ltd           LT FB Fac             ICRA A-     448     Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Sagar Grandhi Exports Pvt Ltd           LT non-FB Fac         ICRA A-     50      Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Sagar Grandhi Exports Pvt Ltd           LT/ST- Proposed Fac   ICRA A- /   37      Upgraded
                                                              ICRA A2+            from ICRA 
                                                                                   BBB+/A2
Sai Industries Pvt Ltd                  FB limit – CC         ICRA BBB-   80      Assigned
Shree Chhatrapati Shahu                 Fund based-TL         ICRA BBB-   250     Upgraded
Sahakari Sakhar Karkhana Ltd                                                       from
                                                                                   ICRA BB+
Shree Chhatrapati Shahu                 Fund based- Working   ICRA BBB-   450     Upgraded
Sahakari Sakhar Karkhana Ltd            Capital Fac                                from
                                                                                   ICRA BB+
Shree Chhatrapati Shahu                 LT -Unallocated       ICRA BBB-   300     Upgraded
Sahakari Sakhar Karkhana Ltd                                                       from
                                                                                   ICRA BB+
Sri Sarvaraya Sugars Ltd                TL                    ICRA  B+    903.4   -
Reason for delay in carrying out periodic review: - Review process is underway
Sri Sarvaraya Sugars Ltd                CC                    ICRA  B+    1320    -
Reason for delay in carrying out periodic review: - Review process is underway
Reason for delay in carrying out periodic review: - Review process is underway
Sundaram Finance Ltd                    PTC Series A          ICRA AAA    1494    Reaffirmed
Sundaram Finance Ltd                    PTC Series A          ICRA AAA    785.4   Reaffirmed
Sungrace Energy Solutions Pvt           LT - Fund Based       ICRA B+     43      Withdrawn
Ltd
Sungrace Energy Solutions Pvt           LT - Non Fund Based   ICRA B+     25      Withdrawn
Ltd
Sungrace Energy Solutions Pvt           LT / ST - Unallocated ICRA B+ /   32      Withdrawn
Ltd                                                           ICRA A4
Suprabha Protective Products            LT – Fundbased TL     ICRA BBB-   30      -
Pvt Ltd
Issuer did not co-operate; based on best available information
Suprabha Protective Products            LT – Fundbased CC     ICRA BBB-   270     -
Pvt Ltd
Issuer did not co-operate; based on best available information
Suprabha Protective Products            LT – Interchangeable  ICRA BBB-   -       -
Pvt Ltd
Issuer did not co-operate; based on best available information
Tata Teleservices                       TL                    ICRA A+     3590^   Upgraded
(Maharashtra) Ltd                                                                  from ICRA A-
Rating watch with developing implications removed
Tata Teleservices                       FB/Non-FBL            ICRA A+     4650    Upgraded
(Maharashtra) Ltd                                                                  from ICRA A-
^amount outstanding as on September 30, 2017 stands at Rs. 203 crore
Tata Teleservices                       Unallocated Limits    ICRA A+     1880    Upgraded
(Maharashtra) Ltd                                                                  from ICRA A-
The Krishna Sahakari Sakkare            LT – CC               ICRA B      100     Revised from
Karkhane Niyamit                                                                   ICRA B+
Umang Dairies Ltd                       LT fund based – CC    ICRA BB+    230     Revised from
                                                                                   ICRA BBB-
Umang Dairies Ltd                       LT fund based – TL    ICRA BB+    110     Revised from
                                                                                   ICRA BBB-
Yes Bank Ltd                            Basel II Compliant    ICRA AA     15441   Outstanding
                                        Upper Tier II Bond
                                        Programme
Yes Bank Ltd                            Basel II Compliant    ICRA AA     4610    Outstanding
                                        Tier I Bond Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA     108000  Outstanding
                                        Additional Tier I
                                        Bond Programme
Yes Bank Ltd                            Basel II Compliant    ICRA AA     100     Withdrawn
                                        Upper Tier II Bond
                                        Programme
Yes Bank Ltd                            Infrastructure Bond   ICRA AA+    20300   Assigned
                                        Programme
Yes Bank Ltd                            Basel III Compliant   ICRA AA+    79000   Outstanding
                                        Tier II Bond Programme
Yes Bank Ltd                            Basel II Compliant    ICRA AA+    25306   Outstanding
                                        Lower Tier II Bond
                                        Programme
Yes Bank Ltd                            Infrastructure Bond   ICRA AA+    50000   Outstanding
                                        Programme

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