November 23, 2017 / 10:41 AM / 7 months ago

ICRA ratings for Indian debt instruments-Nov 23

   Nov 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 22, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Atc Telecom Infrastructure              ST Fac                ICRA A1+&    5800
Pvt. Ltd
& -Under watch with developing implications 
Davanam Jewellers Pvt Ltd               Non Fund basedBG      ICRA A4      40
Issuer not cooperating
Hamsa Minerals & Exports                FB - Foreign          ICRA A4      23.5
                                        Discounting Bill
                                        Purchase
Issuer not cooperating
Kotak Infrastructure Debt Fund          CP Programme          ICRA A1+     300     Assigned
Ltd
Lexona Ceramic                          Non-FBL               ICRA A4      14      Reaffirmed
Liners India Ltd                        NFBL                  ICRA A4      157.5
Issuer not cooperating
Lof Constructions                       Non-fund based - BG   ICRA A4      25
Issuer not cooperating
Nehani Tiles Pvt Ltd                    Non-fund Based BG     ICRA A4      15      Reaffirmed
Orange Ceramics                         Non-fund based – BG   ICRA A4      8       Assigned
Rosabella Ceramic Llp                   Non-FBL               ICRA A4      10      Assigned
Sv Creditline Pvt Ltd                   ST PS                 ICRA A4+     120
Vihita Chem Pvt Ltd                     LOC                   ICRA A4+     3       Uupgraded
                                                                                   from ICRA A4
Vihita Chem Pvt Ltd                     BG                    ICRA A4+     1       Upgraded
                                                                                   from ICRA A4

MEDIUM TERM RATINGS:
-------------------
Liners India Ltd                        FD Programme          MC+          50
Issuer not cooperating

LONG TERM RATINGS:
-------------------
Atc Telecom Infrastructure              LT Fac (Including     ICRA AA-&    26855.1
Pvt. Ltd                                working capital limits)
& - Under watch with developing implications
Dashmesh Agro Industries                FBL                   ICRA B       260
Issuer not cooperating
Dashmesh Rice Mills                     FBL                   ICRA B       300     Assigned
Davanam Jewellers Pvt Ltd               Fund based-CC         ICRA B       730
Issuer not cooperating
Davanam Jewellers Pvt Ltd               Unallocated           ICRA B       32.6
Issuer not cooperating
Hamsa Minerals & Exports                FB - CC               ICRA B-      35
Issuer not cooperating
Hamsa Minerals & Exports                FB - TL               ICRA B-      33.5
Issuer not cooperating
Hamsa Minerals & Exports                Unallocated           ICRA B-      192
Issuer not cooperating
Indian School Finance Company           PTC Series A1         Provisional  461.2   Assigned
Pvt Ltd                                                       ICRA A-(SO)
Indian School Finance Company           PTC Series A2         Provisional  43.4    Assigned
Pvt Ltd                                                       ICRA
                                                              BBB-(SO)
Iskcon Metals                           FB – CC               ICRA B+      80      Reaffirmed
Iskcon Metals                           FB – TL               ICRA B+      45      Reaffirmed
Kalpesh Synthetics Pvt Ltd              FB and non-FBL        ICRA B       126.3   Revised from
                                                              /ICRA A4             ICRA B+/ICRA
                                                                                   A4
Kotak Infrastructure Debt Fund          NCD Programme         ICRA AAA     3000    Assigned
Ltd
Lexona Ceramic                          FB Limit              ICRA BB-     91.8    Reaffirmed
Liners India Ltd                        FBL                   ICRA C       342
Issuer not cooperating
Liners India Ltd                        Unallocated           ICRA C/ICRA  0.5
                                                              A4
Issuer not cooperating
Lof Constructions                       FB - CC               ICRA B       35
Issuer not cooperating
M V Agro Renewable Energy Pvt           LT – TL               ICRA D       115     Revised from
Ltd                                                                                ICRA B-*
*Issuer did not co-operate; based on best available information.
M V Agro Renewable Energy Pvt           LT – CC               ICRA D       40      Revised from
Ltd                                                                                ICRA B-*
*Issuer did not co-operate; based on best available information.
M V Agro Renewable Energy Pvt           LT/ST-Unallocated     ICRA D       5       Revised from
Ltd                                                                                ICRA B-
                                                                                   /ICRA A4*
*Issuer did not co-operate; based on best available information.
Nehani Tiles Pvt Ltd                    FB CC                 ICRA B+      80      Reaffirmed
Nehani Tiles Pvt Ltd                    FB TL                 ICRA B+      35      Reaffirmed
Orange Ceramics                         FB – TL               ICRA B+      50      Assigned
Orange Ceramics                         FB – CC               ICRA B+      30      Assigned
Orange Ceramics                         Unallocated Limits    ICRA B+      2       Assigned
Psk Infrastructures And                 CC limits             ICRA BBB     240     Reaffirmed
Projects Pvt Ltd
Psk Infrastructures And                 BG limits             ICRA BBB     760     Reaffirmed
Projects Pvt Ltd
Psk Infrastructures And                 Unallocated Limits    ICRA BBB     100     Reaffirmed
Projects Pvt Ltd
Quality Heightcon Pvt Ltd               FB TL                 ICRA BB+     20.5    Reaffirmed
Quality Heightcon Pvt Ltd               FB CC                 ICRA BB+     300     Reaffirmed
Quality Heightcon Pvt Ltd               Non-fund Based BG     ICRA BB+ /   160     Reaffirmed
                                                              ICRA A4+;
Quality Heightcon Pvt Ltd               Unallocated Limit     ICRA BB+ /   207     Reaffirmed
                                                              ICRA A4+;
Rajamahal International Pvt Ltd         FB - CC               ICRA B       50
*Issuer did not co-operate; based on best available information.
Rajamahal International Pvt Ltd         FB/ Nonfund based     ICRA B       70
*Issuer did not co-operate; based on best available information.
Rajamahal International Pvt Ltd         Unallocated           ICRA B       30
*Issuer did not co-operate; based on best available information.
Rosabella Ceramic Llp                   FB Limit              ICRA B       120.8   Assigned
Sai Sannidhi Agro Tech                  LT FB TL              ICRA B+      10      Upgraded
                                                                                   from ICRA B
Sai Sannidhi Agro Tech                  LT FB CC              ICRA B+      70      Upgraded
                                                                                   from ICRA B
Satin Creditcare Network Ltd            PTC Series A2         Provisional  19.8    Final Rating
                                                              ICRA
                                                              BBB+(SO)
Satin Creditcare Network Ltd            PTC Series A1         Provisional  419.7   Final Rating
                                                              ICRA A(SO)
Shri Shyamji Agrico Exports             LT Fund Based         ICRA D       209.7
Pvt Ltd
Issuer not cooperating
Shri Shyamji Agrico Exports             LT Unallocated        ICRA D       2.8
Pvt Ltd
Issuer not cooperating
Sudarshan Tv Channel Ltd                FBL                   ICRA D       164
Info and fee not provided
Sudarshan Tv Channel Ltd                FBL                   ICRA D       35
Info and fee not provided
Sudarshan Tv Channel Ltd                Unallocated           ICRA D       198
Info and fee not provided
Sv Creditline Pvt Ltd                   NCD Programme         ICRA BB+     970
Sv Creditline Pvt Ltd                   Bk Lines Programme    ICRA BB+     700
Sv Creditline Pvt Ltd                   Subordinated Debt     ICRA BB+     100
                                        Programme (Sub-debt)
Taj Agro Industries Llp                 Bk Fac                ICRA B+      100
Issuer not cooperating
Vihita Chem Pvt Ltd                     TL                    ICRA BB      40.2^   Reaffirmed
^ comprise two term loans of Rs. 1.27 crore and Rs. 2.75 crore
Vihita Chem Pvt Ltd                     CC                    ICRA BB      70*     Reaffirmed
*consists EPC/FBD/PCFC/EBR limit of Rs. 3.75 crore (enhanced from Rs. 1.70 crore),
 a sub-limit of cash credit facility.
Vihita Chem Pvt Ltd                     Standby Line of CreditICRA BB      8       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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