November 27, 2017 / 10:49 AM / 2 months ago

ICRA ratings for Indian debt instruments-Nov 27

    Nov 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 24, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Baldev Textile Mills Pvt Ltd            ST – Non fund based   ICRA A4+     12.5
Issuer delayed in giving information
Baldev Textile Mills Pvt Ltd            ST –Fund based        ICRA A4+     1
Issuer delayed in giving information
Baldev Textile Mills Pvt Ltd            ST – Unallocated      ICRA A4+     27
Issuer delayed in giving information
Bharat Timber & Construction            ST – FB Fac           ICRA A3      120     Reaffirmed
Co.
Bharat Timber & Construction            ST – Non-FB Fac       ICRA A3      639.1   Reaffirmed
Co.
Bmw India Financial Services            CP                    ICRA A1+     15000   Assigned
Pvt Ltd
Chennai International                   BG                    ICRA A1      980     Reaffirmed
Terminals Pvt Ltd
Citicorp Finance (India) Ltd            CP programme          ICRA A1+     40000   Reaffirmed
Ganesha Ecosphere Ltd                   ST – fund- based Fac  ICRA A2+     35      Reaffirmed
Ganesha Ecosphere Ltd                   ST –non-FB Fac        ICRA A2+     102     Reaffirmed
Hemraj Devkarandas Metals And           Non-fund based-LOC    ICRA D       60      Revised from
Minerals Pvt Ltd                                                                   ICRA A4
Hemraj Devkarandas Metals And           Non-fund              ICRA D       3       Revised from
Minerals Pvt Ltd                        based-Forward                              ICRA A4
                                        Contract Limit
Indian Overseas Bank                    CD                    ICRA A1+     150000  Reaffirmed
Jamna Auto Industries Ltd               CP/STD programme      ICRA A1+     2700    Reaffirmed
(revised from 130 CR)
Kajaria Ceramics Ltd                    Non-FBL               ICRA A1+     1250    Reaffirmed
Kajaria Ceramics Ltd                    Unallocated           ICRA A1+     1250    Reaffirmed
(enhanced from 30.00 CR)
Kakinada Seaports Ltd                   Non Fund Based        ICRA A1      1095.5  Reaffirmed
                                        Working Capital Limits
Kems Forgings Ltd                       ST – Fund Based       ICRA A3+     86.5    Assigned
Melco India Pvt Ltd                     Non FB Limits         ICRA A3      400
ISSUER NOT COOPERATING
Melco India Pvt Ltd                     Unallocated Limits    ICRA A3      200
ISSUER NOT COOPERATING
Mohan Mutha Exports Pvt Ltd             ST - FB Fac           ICRA A3+     900     Withdrawn
Mohan Mutha Exports Pvt Ltd             ST – Non FB Fac       ICRA A3+     1000    Withdrawn
National Highways Authority Of          Fund Based – OverdraftICRA A1+     50000   Reaffirmed
India
Shm Shipcare                            Non fund based LOC    ICRA A4+     562.2
ISSUER NOT COOPERATING
Singh Hindustan Marine Pvt Ltd          Non fund based LOC    ICRA A4      17.5
ISSUER NOT COOPERATING
Smartchem Technologies Ltd              Non-FBL               ICRA A1+     1000    Assigned
Sms Envocare Ltd                        ST non-fund based     ICRA A4      5       Downgraded
                                                                                   from ICRA A4+
Turbo Energy Pvt Ltd                    Fund based - Working  ICRA A1+     500     Reaffirmed
                                        Capital Fac
Turbo Energy Pvt Ltd                    Non-fund based -      ICRA A1+     200     Reaffirmed
                                        Working Capital Fac
U.S.Granites                            LOC                   ICRA A4      8.2     Withdrawn
ISSUER NOT COOPERATING

LONG TERM RATINGS:
-------------------
Aerospace Processing India Pvt          TL                    ICRA BBB     45      Reaffirmed
Ltd
(revised from 19.20 CR)
Aerospace Processing India Pvt          LT / ST fund based /  ICRA BBB     45      Reaffirmed
Ltd                                     non-fund based
                                        interchangeable
Baldev Textile Mills Pvt Ltd            LT – fund based –CC   ICRA BB      75
Issuer delayed in giving information
Baldev Textile Mills Pvt Ltd            LT – fund based –TL   ICRA BB      57.5
Issuer delayed in giving information
Baldev Textile Mills Pvt Ltd            LT - Unallocated      ICRA BB      27
Issuer delayed in giving information
Barque Hotels Pvt Ltd                   LT – TL               ICRA BBB     2550
removed from ‘rating watch with developing implications
Bharat Timber & Construction            LT – TL               ICRA BBB-    4.3     Reaffirmed
Co.
Chennai International                   TL                    ICRA AA (SO) 2001.4  Reaffirmed
Terminals Pvt Ltd
(revised from 237.85 CR)
Chennai International                   LT proposed           ICRA AA (SO) 1135    Reaffirmed
Terminals Pvt Ltd
(revised from 75.79 CR)
Citicorp Finance (India) Ltd            NCD Programme         ICRA AAA     127500  Reaffirmed
Citicorp Finance (India) Ltd            Secured Bk Lines      ICRA AAA     7000    Reaffirmed
                                        Programme
(enhanced from 450.00 CR)
Citicorp Finance (India) Ltd            NCD Programme         ICRA AAA     72500   Withdrawn
Citicorp Finance (India) Ltd            LT Market Linked      ICRA         23476   Reaffirmed
                                        Debenture Programme   PP-MLD ICRA
                                                              AAA
Citicorp Finance (India) Ltd            LT Market Linked      PP-MLD ICRA   11865.6 Withdrawn
                                        Debenture Programme   AAA
Clean Wind Power (Ratlam) Pvt.          TL                    ICRA BBB+    5728    Reaffirmed
Ltd
Clean Wind Power (Ratlam) Pvt.          Working Capital –     ICRA BBB+    300     Reaffirmed
Ltd                                     Fund based
Credo Life Sciences Pvt Ltd             Unallocated           ICRA BB-     100     Assigned
Dhariwal Infrastructure Ltd             TL Fac                ICRA BBB             Outstanding
Ganesha Ecosphere Ltd                   LT – FB TL Fac        ICRA A-      711     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Ganesha Ecosphere Ltd                   LT – FB working       ICRA A-      1015    Upgraded
                                        capital Fac                                from ICRA
                                                                                   BBB+
Ganesha Ecosphere Ltd                   LT non-fund –based FacICRA A-      16      Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Ganesha Ecosphere Ltd                   LT/ ST – Unallocated  ICRA A- /A2+ 251     Upgraded
                                                                                   from ICRA
                                                                                   BBB+ /A2+
Hemraj Devkarandas Metals And           Fund based- CC        ICRA D       85      Revised from
Minerals Pvt Ltd                                                                   ICRA B
Hemraj Devkarandas Metals And           Fund based-           ICRA D       2       Revised from
Minerals Pvt Ltd                        Unallocated Limits                         ICRA B
Indian Overseas Bank                    Upper Tier-II Bonds   ICRA A-      21323   Reaffirmed
Indian Overseas Bank                    Perpetual Bonds       ICRA A-      3000    Reaffirmed
Indian Overseas Bank                    Lower Tier-II Bonds   ICRA A+      15900   Reaffirmed
Indian Overseas Bank                    Tier-II Bonds - Basel ICRA A+      8000    Reaffirmed
                                        III                   (hyb)
Industrial Development                  FB Limits             ICRA B+      100     Downgraded
Corporation Of Orissa Ltd.                                                         from ICRA BB-
Jamna Auto Industries Ltd               TL                    ICRA AA-     700     Reaffirmed
(revised from 50.00 CR)
Jamna Auto Industries Ltd               Fund based/ Non-FB FacICRA AA-     3200    Reaffirmed
                                                              /A1+
(revised from 301.50 CR)
Jamna Auto Industries Ltd               Unallocated limits    ICRA AA-     402.5   Reaffirmed
                                                              /A1+
(revised from 78.75 CR)
Kajaria Ceramics Ltd                    FB Limits             ICRA AA      500     Reaffirmed
Kakinada Seaports Ltd                   TL                    ICRA A       3394.3  Reaffirmed
(revised from 433.01 CR)
Kakinada Seaports Ltd                   LT unallocated        ICRA A       934.8   Reaffirmed
Kems Forgings Ltd                       LT – Fund Based       ICRA BBB     200     Assigned
                                        (Overdraft)
Kohinoor Education Trust                Bk Loans              ICRA D       610
ISSUER NOT COOPERATING
Mahi Corporation Pvt Ltd                Fund based-TL         ICRA D       14.5
ISSUER NOT COOPERATING
Mahi Corporation Pvt Ltd                Fund based-CC         ICRA D       50
ISSUER NOT COOPERATING
Melco India Pvt Ltd                     FB Limits             ICRA BBB-    100
ISSUER NOT COOPERATING
Mohan Mutha Exports Pvt Ltd             LT - TL               ICRA BBB     9.2     Withdrawn
Mohan Mutha Exports Pvt Ltd             LT / ST – Unallocated ICRA BBB     240.8   Withdrawn
                                        limits                /A3+
National Highways Authority Of          LT Borrowing          ICRA AAA     590000  Outstanding
India                                   Programme for 2017-18
National Highways Authority Of          LT Borrowing          ICRA AAA     331180  Outstanding
India                                   Programme for 2016-17
National Highways Authority Of          Tax-free Bonds –      ICRA AAA     190000  Outstanding
India                                   2015-16
National Highways Authority Of          54EC bonds – 2014-15  ICRA AAA     33430   Outstanding
India
Plasma Metal Processing Pvt.            Fund based- TL        ICRA D       350
Ltd.
ISSUER NOT COOPERATING
Renew Wind Energy                       FB – LT Limits        ICRA BBB+    2790    Upgraded
(Varekarwadi) Pvt Ltd                                                              from ICRA BBB
Shm Shipcare                            Fund based-CC         ICRA BB      296.8
ISSUER NOT COOPERATING
Shm Shipcare                            Fund based-TL         ICRA BB      41
ISSUER NOT COOPERATING
Shree Polyester Industries Pvt          BLR                   ICRA BB- /A4 160
Ltd
ISSUER NOT COOPERATING
Singh Hindustan Marine Pvt Ltd          Fund based-CC         ICRA BB-     50
ISSUER NOT COOPERATING
Singh Hindustan Marine Pvt Ltd          Fund based / non fund ICRA BB-     32.5
                                        based - Unallocated
ISSUER NOT COOPERATING
Smartchem Technologies Ltd              FBL                   ICRA AA-     1000    Assigned
Sms Envocare Ltd                        Fund based-TL         ICRA BB      16.1    Downgraded
                                                                                   from ICRA BB+
Sms Envocare Ltd                        Fund based-Working    ICRA BB      10      Downgraded
                                        Capital Fac                                from ICRA BB+
Spectra Auto                            Fund based-CC         ICRA BB-     30
ISSUER NOT COOPERATING
Spectra Auto                            Fund based / non fund ICRA BB-     70
                                        based - Unallocated
ISSUER NOT COOPERATING
Ssr Crest Engineers And                 BLR                   ICRA BB- /A4 310
Constructions Ltd
ISSUER NOT COOPERATING
Star Rays                               Bk Loans              ICRA A- /A2+ 3250
Review process is underway
Suraksha Traders                        LT – FBL              ICRA B       25      Withdrawn
ISSUER NOT COOPERATING
Suraksha Traders                        Unallocated           ICRA B       25      Withdrawn
ISSUER NOT COOPERATING
U.S.Granites                            Cash-Credit           ICRA B       60.5    Withdrawn
ISSUER NOT COOPERATING
U.S.Granites                            Unallocated           ICRA B       27.8    Withdrawn
ISSUER NOT COOPERATING
Universal Realtors Pvt Ltd              TL Limits             ICRA BB      750     Withdrawn
ISSUER NOT COOPERATING
Venus Jewel                             LT / ST, FBL          ICRA A+ /A1+ 7050    Reaffirmed
Venus Jewel                             LT / ST, non-FBL      ICRA A+ /A1+ 1       Reaffirmed
Viswateja Cotton Industries             BLR                   ICRA B       75
ISSUER NOT COOPERATING
Yash Pal & Sons (Huf)                   LT – Fund Based – TL  ICRA B+      195
ISSUER NOT COOPERATING

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