November 28, 2018 / 11:21 AM / 8 months ago

ICRA ratings for Indian debt instruments-Nov 28

    Nov 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 27, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ace Manufacturing Systems Ltd           Non FB                ICRA A1+     440     Reaffirmed
Baroda Agro Chemicals Ltd               Non-Fund Based limts  ICRA A4      15
Rating continues to remain under ‘Issuer Not Cooperating’ category
Baroda Agro Chemicals Ltd               Non fund based ST     ICRA A4      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Mfar Constructions Pvt Ltd              Fund based-CC         ICRA A4+     1260
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mfar Constructions Pvt Ltd              Fund based-CC         ICRA A4+     1260
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Minda Industries Ltd                    NFBL                  ICRA A1+     370     outstanding
Minda Industries Ltd                    CP                    ICRA A1+     300     outstanding
Mukesh And Co.                          Non-Fund Based        ICRA A4+     50
Issuer not cooperating
Myoung Shin India Automotive            Non-fund based        ICRA A3      -       Assigned
Pvt Ltd                                 sublimit Fac
Signature Ceramic Pvt. Ltd.             Non Fund based BG     ICRA A4      14
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sln Technologies Pvt Ltd                ST Non-fund           ICRA A4      62.5    Reaffirmed
                                        based-Working Capital
                                        Fac
Sundar Timber Products                  LOC cum Buyers Credit ICRA A4      70
Issuer not cooperating
Vadim Infrastructure Pvt Ltd            ST – Fund based       ICRA A4      20
                                        facility
Issuer not cooperating
Vadim Infrastructure Pvt Ltd            ST – Nonfund based    ICRA A4      40.5
                                        facility
Issuer not cooperating

LONG TERM RATINGS:
-------------------
Ace Manufacturing Systems Ltd           FB – TL               ICRA AA-     400     Reaffirmed
Ace Manufacturing Systems Ltd           FB – CC               ICRA AA-     137.5   Reaffirmed
Baroda Agro Chemicals Ltd               Fund based-TL         ICRA B+      103
Rating continues to remain under ‘Issuer Not Cooperating’ category
Baroda Agro Chemicals Ltd               Fund based-CC         ICRA B+      140
Rating continues to remain under ‘Issuer Not Cooperating’ category
Belstar Investment And Finance          PTC Series A1         ICRA A(SO)   349.5
Pvt Ltd - Vivriti Harper 072018
Provisional rating confirmed as final
Belstar Investment And Finance          PTC Series A2         ICRA A-(SO)  4
Pvt Ltd - Vivriti Harper 072018
Provisional rating confirmed as final
Bindu Recepies Pvt Ltd                  Non- Convertible      ICRA BB      200     Reaffirmed
                                        Debenture
Carnival Soft Pvt Ltd                   Bk Fac                ICRA         2000
                                                              BBB(SO)
Review process is underway
E.S.S.M. Educational &                  LT – FB               ICRA BB      80      Withdrawn
Charitable Trust
E.S.S.M. Educational &                  LT – Unallocated      ICRA BB      20      Withdrawn
Charitable Trust
East Coast Engineering Company          Bk loan Ratings       ICRA         140
                                                              BB-/ICRA A4
Reason for delay in carrying out periodic review: Review process is underway
Ecil Rapiscan Ltd                       Bk loan Ratings       ICRA A-      300
Reason for delay in carrying out periodic review: Review process is underway
Futuristic Diagnostic Imaging           FBL                   ICRA BB      30      Assigned
Centre Pvt Ltd
Futuristic Diagnostic Imaging           Unallocated Limits    ICRA BB      120     Assigned
Centre Pvt Ltd
Ge Power India Ltd (Erstwhile           Non-fund based – BG/LCICRA AA      30500
Alstom India Ltd)
revised from ICRA AA /A1+; reaffirmed
Ge Power India Ltd (Erstwhile           Fund based - Working  ICRA AA-     350
Alstom India Ltd)                       Capital Fac
revised from ICRA AA
Ge Power India Ltd (Erstwhile           Unallocated           ICRA AA-     1150
Alstom India Ltd)
revised from ICRA AA /A1+; reaffirmed
Ge T&D India Ltd (Erstwhile             Fund based – Working  ICRA AA-     11930
Alstom T&D India Ltd)                   Capital Fac
revised from ICRA AA
Ge T&D India Ltd (Erstwhile             Non-fund based – BG/LCICRA AA-     55450
Alstom T&D India Ltd)
revised from ICRA AA /A1+; reaffirmed
Ge T&D India Ltd (Erstwhile             Unallocated           ICRA AA-     2620
Alstom T&D India Ltd)
revised from ICRA AA /A1+; reaffirmed
Gloria Engineering Company              FB - TL               ICRA BBB-    37.5    Reaffirmed
Gloria Engineering Company              FB - Working Capital  ICRA BBB-    1300    Reaffirmed
                                        Fac Non-fund Based -
                                        Working Capital 5 Fac
Gloria Engineering Company              LT/ ST Unallocated    ICRA BBB-/   50      Reaffirmed
                                                              ICRA A3
Mfar Constructions Pvt Ltd              Fund based-TL         ICRA BB+     770
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mfar Constructions Pvt Ltd              Fund based-TL         ICRA BB+     770
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Minda Industries Ltd                    TL                    ICRA AA      911
Assigned/ outstanding
Minda Industries Ltd                    CC                    ICRA AA      985     outstanding
Minda Industries Ltd                    Unallocated           ICRA AA      234
Assigned/ outstanding
Mukesh And Co.                          Fund Based            ICRA BB+     110
Issuer not cooperating
Myoung Shin India Automotive            FB -TL                ICRA BBB-    1301    Assigned
Pvt Ltd
Myoung Shin India Automotive            LT fund based         ICRA BBB-    34.8    Assigned
Pvt Ltd
Myoung Shin India Automotive            Fund based sublimit   ICRA BBB-    -       Assigned
Pvt Ltd                                 Fac
Myoung Shin India Automotive            Unallocated Limits    ICRA BBB-    164.2   Assigned
Pvt Ltd
Ng Fertilizers & Chemicals Pvt          Bk loan Ratings       ICRA BB+     660
Ltd
Issuer not cooperating
Ostro Urja Wind Pvt Ltd                 TL                    ICRA BBB+    3999.6
Process of withdrawal is under initiation
Ostro Urja Wind Pvt Ltd                 Unallocated           ICRA BBB+    200.4
Process of withdrawal is under initiation
Samruddha Resources Ltd                 BLR                   ICRA D       250
Issuer not cooperating
Shreeji Cotton Industries               FB – CC               ICRA D       105
Issuer Not Cooperating; Revised from ICRA B+; Rating continues to remain in the ‘Issuer Not
Cooperating’ category
Sidwin Fabric Pvt Ltd                   FB limit              ICRA B+      50      Reaffirmed
Sidwin Fabric Pvt Ltd                   Unallocated Limits    ICRA B+ /A4  50.3    Reaffirmed
Signature Ceramic Pvt. Ltd.             Fund based-TL         ICRA B+      17.9
Rating continues to remain under ‘Issuer Not Cooperating’ category
Signature Ceramic Pvt. Ltd.             Fund based-CC         ICRA B+      30
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sln Technologies Pvt Ltd                LT Fund based-TL      ICRA BB-     30      Reaffirmed
outlook revised from Positive to Stable
Sln Technologies Pvt Ltd                LT Fund based-        ICRA BB-     45      Reaffirmed
                                        Working Capital Fac
outlook revised from Positive to Stable
Sln Technologies Pvt Ltd                LT Unallocated        ICRA BB-     5       Reaffirmed
outlook revised from Positive to Stable
Srinivasa Educational Society           Bk loan Rating        ICRA B       100
Issuer not cooperating
Sundar Timber Products                  CC                    ICRA B       10
Issuer not cooperating
Vadim Infrastructure Pvt Ltd            LT – Fund based       ICRA BB-     23
                                        facility
Issuer not cooperating
Vadim Infrastructure Pvt Ltd            Unallocated facility  ICRA BB-/    16.5
                                                              ICRA A4
Issuer not cooperating
Vishesh Engineering Company             Bk loan Ratings       ICRA BB-     100
Reason for delay in carrying out periodic review: Review process is underway

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