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ICRA ratings for Indian debt instruments-Nov 7
November 7, 2017 / 10:38 AM / in 11 days

ICRA ratings for Indian debt instruments-Nov 7

    Nov 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 6, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ambadi Investments Pvt Ltd              CP                    ICRA A1+     300     Assigned
Aquatica Frozen Foods Global            ST - FB Fac           ICRA A3+     540     Assigned
Pvt Ltd
Diligent Media Corporation Ltd          ST, non-fund based    ICRA A2+     200     Reaffirmed
                                                              (SO)
Dolswap Business Pvt Ltd                Non-FB-limit LOC      ICRA A4+     30
Issuer not cooperating
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     45000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Outstanding
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Outstanding
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   Outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         ST Principal          PP-MLD ICRA  9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     40000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme          ICRA A1+     70000   Outstanding
Ltd
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Outstanding
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Outstanding
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLD ICRA  5000    Outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     45000   Assigned
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Edelweiss Financial Services            CP Programme          ICRA A1+     63500   Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
Edelweiss Financial Services            ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Outstanding
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Outstanding
Ltd (Erstwhile Edelweiss                financing)
Capital Ltd)
Elgi Electric And Industries            ST FB Fac – sub limit ICRA A3              Reaffirmed
Ltd
Elgi Electric And Industries            ST non FB Fac         ICRA A3      70      Reaffirmed
Ltd
Exilant Technologies Pvt Ltd            Short- Term- NFBL     ICRA A1      21.8    Reaffirmed
Exilant Technologies Pvt Ltd            Short- Term- proposed ICRA A1      278.2   Reaffirmed
Mahalaxmi Technocast Ltd                FB Limits^            ICRA A4              Reaffirmed
^Sub-limit of the fund based facilities of Rs. 25.00 crore
Mahalaxmi Technocast Ltd                Non-FBL^              ICRA A4              Reaffirmed
^Sub-limit of the fund based facilities of Rs. 25.00 crore
Metco Roof Pvt Ltd                      ST - Non Fund Based   ICRA A3      180     Assigned
S.R.S. Exports Pvt Ltd                  ST – LOC              ICRA A4      300     Reaffirmed
Shadiram & Sons                         ST Non-FBL            ICRA A4      950     Reaffirmed
Shankaranarayana Constructions          ST – Non Fund Based   ICRA A2+     2310    Reaffirmed
Pvt Ltd
Sidwin Fabric Pvt Ltd                   Non- FBL              ICRA A4      15      Assigned
Tata Advanced Materials Ltd             ST - Fund Based       ICRA A1      100     Reaffirmed
Tata Advanced Materials Ltd             ST - Non-fund Based   ICRA A1      940     Reaffirmed
Tata Advanced Materials Ltd             ST - Interchangeable  ICRA A1              Reaffirmed
Tata Advanced Materials Ltd             CP                    ICRA A1+     500     Outstanding
                                                              (SO)
Torrent Pharmaceuticals Ltd             CP/STD                ICRA A1+     5600
Placed on rating watch with developing implication
Varroc Polymers Pvt Ltd                 CP                    ICRA A1+     750     Outstanding

LONG TERM RATINGS:
-------------------
Ahalia Money Exchange And               LT Bk Fac             ICRA BB      100     Reaffirmed
Financial Services Pvt Ltd
Aquatica Frozen Foods Global            LT – Non FB Fac       ICRA BBB     20      Assigned
Pvt Ltd
Baba Akhila Sai Jyothi                  BLR                   ICRA D       388
Industries Pvt Ltd
Issuer delayed in giving information
Bhoomi Ginning Pressing Pvt Ltd         FB – CC               ICRA D       120
Issuer not cooperating
Diligent Media Corporation Ltd          NCD programme         ICRA A (SO)  2500    Reaffirmed
Dolswap Business Pvt Ltd                FB-limit- CC facility ICRA BB+     130
Issuer not cooperating
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA/ A1+ 110000  Outstanding
Ecl Finance Ltd                         LT Principal          PP-MLD ICRA  3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLD ICRA  23500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      47000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Edelweiss Financial Services            NCD Programme         ICRA AA      5000    Outstanding
Ltd (Erstwhile Edelweiss
Capital Ltd)
Elgi Electric And Industries            LT FB Fac             ICRA BBB-    100     Reaffirmed
Ltd
Elgi Electric And Industries            Proposed LT Fac       ICRA BBB-    10.6    Reaffirmed
Ltd
Exilant Technologies Pvt Ltd            Long- Term- FB Limits ICRA A+      200     Reaffirmed
Exilant Technologies Pvt Ltd            Long- Term- proposed  ICRA A+      500     Reaffirmed
Gowthami Spintex (India) Ltd            BLR                   ICRA B /A4   340
Issuer not cooperating
India Infoline Finance Ltd-             PTC                   ICRA AAA             Withdrawn
Robust Cv Trust Dec 2014                                      (SO)
India Infoline Finance Ltd-             Second Loss Facility  ICRA BBB             Withdrawn
Robust Cv Trust Dec 2014                                      (SO)
Indian School Finance Company           PTC Series A1         ICRA AA-             Withdrawn
Pvt Ltd- Nephthys Sbl Ifmr                                    (SO)
Capital 2014
Kamarli Steels Pvt Ltd                  Bk Loans              ICRA B+ /A4  200
Issuer not cooperating
Kartekya Wines                          FB - CC               ICRA BBB-    150     Withdrawn
Kuldeep Singh Sukhvinder Singh          FB - CC               ICRA BBB-    300     Withdrawn
& Others
Kuldeep Singh Sukhvinder Singh          Unallocated Limits    ICRA BBB-    20      Withdrawn
& Others
Laxmi Transmissions                     BLR                   ICRA B /A4   400
Issuer not cooperating
Mahalaxmi Technocast Ltd                FB Limits             ICRA B       250     Reaffirmed
Metco Roof Pvt Ltd                      LT - Fund Based/ CC   ICRA BBB-    70      Assigned
Mini Diamonds (India) Ltd               Bk limits^            ICRA D       90
Issuer not cooperating
Navkiran Techno Feeds                   BLR                   ICRA B+      100
Issuer not cooperating
Neogem India Ltd                        Bk Loans              ICRA D       150
Issuer not cooperating
P Kishanchand Textiles Ltd              Bk Loan               ICRA B /A4   130
Issuer delayed in giving information
Raj Agro                                FB Limits             ICRA B       58.6
Issuer not cooperating
Rsg Developers Pvt Ltd                  FB limits             ICRA B       55      Reaffirmed
Rsg Developers Pvt Ltd                  Non-FBL               ICRA B       20      Reaffirmed
S.R.S. Exports Pvt Ltd                  LT – CC^              ICRA B+              Reaffirmed
^Sub-limit of short-term non-fund based limit
Sandor Life Sciences Pvt Ltd            NCD                   ICRA B-      350     Reaffirmed
Shankaranarayana Constructions          LT – Fund Based CC    ICRA A-      470     Reaffirmed
Pvt Ltd
Sidwin Fabric Pvt Ltd                   FB Limit              ICRA B+      85.3    Assigned/
                                                                                   Outstanding
enhanced from Rs. 7.00 crore
Supreme Solar Systems                   LT –TL                ICRA BB-     120
Issuer not cooperating
Supreme Solar Systems                   LT –CC                ICRA BB-     60
Issuer not cooperating
Tata Advanced Materials Ltd             LT - CC               ICRA A+      560     Reaffirmed
Tata Advanced Materials Ltd             LT/ST - Fund Based/   ICRA A+ /A1  2500    Reaffirmed
                                        Non-fund Based
The Indian Hotels Co. Ltd               NCDs (NCDs) #         ICRA AA      16000   Reaffirmed
# Aggregate amount outstanding against the rated NCDs is Rs. 800 crore
The Lifestile Realty                    Bk Loan Rating        ICRA B       130
Issuer delayed in giving information
Torrent Pharmaceuticals Ltd             TL                    ICRA AA      11710
Placed on rating watch with developing implication
Torrent Pharmaceuticals Ltd             FB limits (CC)        ICRA AA      17950
Placed on rating watch with developing implication
Torrent Pharmaceuticals Ltd             NCDs                  ICRA AA      15000
Placed on rating watch with developing implication
Varroc Polymers Pvt Ltd                 NCD (Proposed)        ICRA AA-     500     Assigned
Varroc Polymers Pvt Ltd                 TL                    ICRA AA-     515     Outstanding
Varroc Polymers Pvt Ltd                 FB Fac                ICRA AA-     395     Outstanding
                                                              /A1+
Varroc Polymers Pvt Ltd                 Non-FB Fac            ICRA AA-     690     Outstanding
                                                              /A1+
Varroc Polymers Pvt Ltd                 FB/ Non-FB Fac        ICRA AA-     1400    Outstanding
                                                              /A1+
Zee Media Corporation Ltd               LT, FB Bk Fac         ICRA A       33      Reaffirmed
revised from 95 CR
Zee Media Corporation Ltd               Long-TL               ICRA A       552     Reaffirmed
revised from 80 CR
Zee Media Corporation Ltd               LT / ST, Unallocated  ICRA A /A2+  1165    Reaffirmed
                                        Limits

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