November 29, 2017 / 10:32 AM / 2 months ago

ICRA ratings for Indian debt instruments-Nov 29

    Nov 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 28, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhuvaneswari Tex                        ST FB                 ICRA A4+     80      Reaffirmed
Bhuvaneswari Tex                        ST Non-FB             ICRA A4+     1.5     Reaffirmed
Bucon Infratech Pvt Ltd                 FB Fac-ST             ICRA A4      130     -
Reason for delay in carrying out periodic review: Issuer not cooperating
Bucon Infratech Pvt Ltd                 Non-FB Fac-ST         ICRA A4      25      -
Reason for delay in carrying out periodic review: Issuer not cooperating
Bucon Infratech Pvt Ltd                 Unallocated-ST        ICRA A4      5       -
Reason for delay in carrying out periodic review: Issuer not cooperating
Dolphin Poly Plast Pvt Ltd              Non-FBL               ICRA A4      15      Reaffirmed
Globe Steels Pvt Ltd                    ST: LOC               ICRA A4      47.5    Reaffirmed
Jak Group Pvt Ltd                       ST FB                 ICRA A4+     400     Assigned /
                                                                                   Outstanding
Kotak Mahindra Prime Ltd                CP Programme          ICRA A1+     90000   Outstanding
Kotak Securities Ltd                    CP Programme          ICRA A1+     40000   Assigned /
                                                                                   Outstanding
Piramal Finance Ltd                     CP / ST Debt ProgrammeICRA A1+     90000   Reaffirmed
Tata Business Support Services          Non-FBL               ICRA A1+     350     -
Ltd
Rating watch with developing implications
Tata Business Support Services          CP Programme          ICRA A1+     500     -
Ltd
Rating watch with developing implications

LONG TERM RATINGS:
-------------------
Annapurna Microfinance Pvt Ltd          PTC Series A1         Provisional  293.2   Assigned
                                                              ICRA A
Annapurna Microfinance Pvt Ltd          PTC Series A2         Provisional  14.8    Assigned
                                                              ICRA BBB
Balaji Enterprise                       FB CC                 ICRA B       65      Assigned
Bhuvaneswari Tex                        LT FB                 ICRA BB+     34.5    Reaffirmed
Dolphin Poly Plast Pvt Ltd              FB Limits             ICRA B+      81.9    Reaffirmed
Dolphin Poly Plast Pvt Ltd              Unallocated Limits    ICRA B+ / A4 3.1     Reaffirmed
Globe Steels Pvt Ltd                    LT: FBL – CC          ICRA BB      122.5   Upgraded
                                                                                   from ICRA BB-
Gomatha Cotton Industries               FBL                   ICRA B       120     -
Reason for delay in carrying out periodic review: - Issuer delayed in giving information
Jak Group Pvt Ltd                       LT FB                 ICRA BB+     50      Outstanding
Jivandhara Cotton Industries            FB Limit – CC         ICRA B+      140     Reaffirmed
Karlo Automobiles Pvt Ltd               FB Limits             ICRA BB-     127.5   Upgraded
                                                                                   from ICRA B+
Karlo Automobiles Pvt Ltd               Unallocated Limits    ICRA BB-     2.5     Upgraded
                                                                                   from ICRA B+
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA AAA     2220    Assigned
                                        Programme
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA AAA     6541    Outstanding
                                        Programme
Kotak Mahindra Prime Ltd                NCDs                  ICRA AAA     2519    Outstanding
Kotak Mahindra Prime Ltd                CC and TL             ICRA AAA     63910   Outstanding
Kotak Mahindra Prime Ltd                Nifty Linked          PP-MLDICRA   412.5   Outstanding
                                        Debentures            AAA
Kotak Securities Ltd                    Optionally            ICRA AAA     500     Outstanding
                                        Convertible Debenture
                                        Programme
Malankara Plantations Ltd               FB Fac                ICRA BB+     155     Reaffirmed
Nooli Jewellers                         Fund based – CC       ICRA B+      220     Reaffirmed
Panasian Impex Pvt Ltd                  Bk Fac                ICRA B+ / A4 495     -
Reason for delay in carrying out periodic review
Piramal Finance Ltd                     LT Bk Fac             ICRA AA      96720   Reaffirmed
Piramal Finance Ltd                     NCD Programme         ICRA AA      70000   Reaffirmed
Piramal Finance Ltd                     Subordinated Bond     ICRA AA      10000   Reaffirmed
                                        (Tier II) Programme
Saraf Builders                          FBL                   ICRA BB-     137.5   -
ISSUER NOT COOPERATING
Sbi Dfhi Ltd                            Issuer Rating1        ICRA AAA     -       Reaffirmed
Solairedirect Energy India Pvt          LT/ST –Non Fund Based ICRA BBB+ /  750     -
Ltd                                                           ICRA A2+
ISSUER NOT COOPERATING
Tata Business Support Services          FB Limits             ICRA A+      430     -
Ltd
Rating watch with developing implications
Vallabha Feeds Pvt Ltd                  Fund based- CC        ICRA BB+     100     Revised from
                                                                                   ICRA BB-
Vallabha Feeds Pvt Ltd                  Fund based- TL        ICRA BB+     -       Revised from
                                                                                   ICRA BB-
Vallabha Feeds Pvt Ltd                  Unallocated           ICRA BB+     13      Revised from
                                                                                   ICRA BB-

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