November 21, 2019 / 8:46 AM / 17 days ago

ICRA ratings for Indian debt instruments-Nov 21

   Nov 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 20, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bioplus Life Sciences Pvt Ltd           ST - Fund Based       ICRA A3+     200     Revised from
                                                                                   ICRA A2
Bioplus Life Sciences Pvt Ltd           ST - Non-Fund         ICRA A3+     6       Revised from
                                                                                   ICRA A2
Godrej Industries Ltd                   Short-TL              ICRA A1+     2000    Outstanding
Godrej Industries Ltd                   Non-FB Fac            ICRA A1+     6000    Outstanding
Godrej Industries Ltd                   CP Programme^         ICRA A1+     600     Outstanding
^carved out of the above mentioned long-term, fund-based limits
Godrej Industries Ltd                   CP Programme          ICRA A1+     9400    Outstanding
Karnataka Roadlines Pvt Ltd             Non-Fund Based-BG     ICRA A4+     5       Withdrawn
                                        Trust Name Trust Name
Lupin Ltd                               ST FB Limits          ICRA A1+     11000   -
removed from rating watch with developing implications
Lupin Ltd                               ST Non-FBL            ICRA A1+     4000    -
removed from rating watch with developing implications
Pmj Constructions Pvt. Ltd.             ST - Non Fund Based   ICRA A4      100     -
Rating moved to the Issuer Not Cooperating category
Realtime Techsolutions Pvt.             ST-LOC                ICRA A4      30      Upgraded
Ltd.                                                                               from ICRA D
Realtime Techsolutions Pvt.             ST-BG                 ICRA A4      160     Upgraded
Ltd.                                                                               from ICRA D

LONG TERM RATINGS:
-------------------
Godrej Industries Ltd                   NCD Programme         ICRA AA      15000   Assigned
Godrej Industries Ltd                   FB Fac                ICRA AA      900     Outstanding
Godrej Industries Ltd                   Long-TL               ICRA AA      12000   Outstanding
Godrej Industries Ltd                   Non-FB Fac            ICRA AA      500     Outstanding
Haryana Seeds Development               LT FB CC              ICRA BB+     750     Reaffirmed
Corporation Ltd
Indostar Capital Finance Ltd            PTC Series A1         Provisional  797.7   Final Rating
-Solitaire CV Trust July 2019                                 ICRA AAA(SO)
Karnataka Roadlines Pvt Ltd             FB-CC                 ICRA BB+     500     Withdrawn
Karnataka Water And Sanitation          TL                    ICRA         6635    Outstanding
Pooled Fund                                                   AA-(CE)
Karnataka Water And Sanitation          Bond programme^       ICRA AA+     83      Outstanding
Pooled Fund
^The ICRA AA+(Stable) rating was earlier denoted as ICRA AA+(SO) (Stable). In line with the SEBI
guidelines, ICRA has discontinued the use of the (SO) suffix alongside rating symbols for
denoting the ratings of instruments backed by structural features (such as Escrow and DSRA). The
change in the suffix should not be construed as a change in the rating.
Karnataka Water And Sanitation          TL (proposed)         Provisional  1741    Assigned
Pooled Fund                                                   ICRA AA-(CE)
Magma Fincorp Ltd - Mfl                 PTC Series A1         Provisional  475.7   Confirmed as
Securitisation Trust Xcii                                     ICRA AA(SO)          final
Magma Fincorp Ltd - Mfl                 PTC Series A2         Provisional  14.7    Confirmed as
Securitisation Trust Xcii                                     ICRA AA(SO)          final
Magma Fincorp Ltd - Mfl                 Second Loss Facility  Provisional  15.9    Confirmed as
Securitisation Trust Xcii                                     ICRA                 final
                                                              BBB-(SO)
PMJ Constructions Pvt. Ltd.             LT - Fund Based/ CC   ICRA B       50      -
Rating moved to the Issuer Not Cooperating category
PMJ Constructions Pvt. Ltd.             LT - Unallocated      ICRA B       20      -
Rating moved to the Issuer Not Cooperating category
Realtime Techsolutions Pvt.             LT-CC                 ICRA B-      60      Upgraded
Ltd.                                                                               from ICRA D
--------------------------------------------------------------------------------------------
$: 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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