November 8, 2019 / 10:04 AM / 9 days ago

ICRA ratings for Indian debt instruments-Nov 8

    Nov 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 7, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Alkali Metals Ltd                       Non-FBL               ICRA A4+     85      Reaffirmed
Ang Lifesciences India Ltd              Non-fund Based        ICRA A4+     60      Reaffirmed
Ang Lifesciences India Ltd              Non-fund Based        ICRA A4+     60      Reaffirmed
Aurora Apparel Pvt Ltd                  ST – FBL              ICRA A4+     65      Reaffirmed
Aurora Apparel Pvt Ltd                  ST – Non-FBL          ICRA A4+     15      Reaffirmed
Canter Engineers Pvt Ltd                ST: Non-FBL           ICRA A4      117.5   Revised from
                                                                                   ICRA A4+
Commercial Engineers & Body             ST Non-fund Based     ICRA A3 (CE) 150     Assigned
Builders Co. Ltd
Commercial Engineers & Body             ST FB                 ICRA A4      150     Assigned
Builders Co. Ltd
Cosa Ceramics Pvt. Ltd.                 Non-fund Based BG     ICRA A3+     70      Reaffirmed
Covalent Laboratories Pvt Ltd           ST – FB               ICRA A2      40      Reaffirmed
Covalent Laboratories Pvt Ltd           ST – Non-fund Based   ICRA A2      1030    Reaffirmed
Hasimara Industries Ltd                 Non-fund based - BG   ICRA A4      15      Reaffirmed
Kotak Mahindra Prime Ltd                CP Programme          ICRA A1+     90000   Outstanding
Priyadarshini Polysacks Ltd             ST – Non-Fund Based-BGICRA A3      8.5     Reaffirmed
Ravi Dyeware Company Pvt Ltd            ST: Non-fund based    ICRA A2+     240     Reaffirmed
Sai-Laxmi Texofab                       Non FBL               ICRA A4      0.5     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Sai-Laxmi Texofab                       Non-fund              ICRA A4      -       -
                                        based-Working Capital
                                        Facility**
(Rating moved to the ‘Issuer Not Cooperating’ category) / **sublimit of Fund based- Working
Capital Facility
Siddharth Colorchem Pvt Ltd             ST: Fund based        ICRA A2+     355     Reaffirmed
Siddharth Colorchem Pvt Ltd             ST: Non-fund based    ICRA A2+     150     Reaffirmed
Umiya Wood Works Pvt. Ltd               Non FB LOC            ICRA A4+     190     Reaffirmed


LONG TERM RATINGS:
-------------------
Alkali Metals Ltd                       FBL                   ICRA         180     Upgraded
                                                              BB+(Stable)          from ICRA BB
                                                                                   (Stable)
Alkali Metals Ltd                       Unallocated Limits    ICRA         155     Upgraded
                                                              BB+(Stable)          from ICRA BB
                                                              / A4+                (Stable) /
Reaffirmed
Amit Enterprises Housing Ltd            FB – TL               ICRA D       750**   Downgraded
                                                                                   from ICRA
                                                                                   BBB- (Stable)
**Rs. 75.00-crore of term loan has been sanctioned by PNBHFL towards the development of
Bloomfield project.
Ang Lifesciences India Ltd              FB – CC               ICRA BB+     70      Reaffirmed
                                                              (Stable)
Ang Lifesciences India Ltd              FB – TL               ICRA BB+     40      Reaffirmed
                                                              (Stable)
Ang Lifesciences India Ltd              FB – CC               ICRA BB+     70      Reaffirmed
                                                              (Stable)
Ang Lifesciences India Ltd              FB – TL               ICRA BB+     40      Reaffirmed
                                                              (Stable)
Aurora Apparel Pvt Ltd                  LT –Fund based, TL    ICRA         43.8    Reaffirmed
                                                              BB(Stable)
Aurora Apparel Pvt Ltd                  LT/ST– Unallocated    ICRA         22.4    Reaffirmed
                                        Limits                BB(Stable)
                                                              / A4+
Aurora Apparel Pvt Ltd                  LT/ST Interchangeable ICRA         -       Reaffirmed
                                        Limits                BB(Stable)
                                                              / A4+
Canon India Pvt Ltd                     Issuer Rating         ICRA AA+     -       Revied from
                                                              (Negative)           ICRA AAA
                                                                                   (Stable)
Canter Engineers Pvt Ltd                LT: Fund based – CC   ICRA BB      130     Revised from
                                                              (Stable)             ICRA
                                                                                   BB+(Stable)
Canter Engineers Pvt Ltd                LT / ST: Unallocated  ICRA         302.5   Revised from
                                        limits                BB(Stable)           ICRA
                                                              / A4                 BB+(Stable)/ 
                                                                                   A4+
Cholamandalam Investment And            Second Loss Facility  ICRA AA-(SO) 295.9   Withdrawn
Finance Co. Ltd - Platinum
Trust February 2017
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) 4931.3  Withdrawn
Finance Co. Ltd - Platinum
Trust February 2017
Commercial Engineers & Body             LT/ST Unallocated     ICRA BB-     212.3   Assigned
Builders Co. Ltd                                              (Stable)/A4;
Commercial Engineers & Body             LT FB TL – II         ICRA BBB-    50      Assigned
Builders Co. Ltd                                              (Stable)
Commercial Engineers & Body             LT FB CC              ICRA BBB-    200     Assigned
Builders Co. Ltd                                              (CE)
                                                              (Stable)
Commercial Engineers & Body             LT FB TL - I          ICRA BBB-    237.7   Assigned
Builders Co. Ltd                                              (CE)
                                                              (Stable)
Cosa Ceramics Pvt. Ltd.                 FB CC                 ICRA BBB     120^    Reaffirmed
                                                              (Stable)
^Includes sublimit LC of Rs. 5.00 crore
Cosa Ceramics Pvt. Ltd.                 FB TL                 ICRA BBB     127.3   Reaffirmed
                                                              (Stable)
Cosa Ceramics Pvt. Ltd.                 Unallocated           ICRA BBB     212.7   Reaffirmed
                                                              (Stable) /
                                                              A3+
Covalent Laboratories Pvt Ltd           LT – FB TL            ICRA BBB+    1100    Reaffirmed
Covalent Laboratories Pvt Ltd           LT – FB/ CC           ICRA BBB+    1600    Reaffirmed
Covalent Laboratories Pvt Ltd           LT – Unallocated      ICRA BBB+    107.5   Reaffirmed
Deep Motors                             FB Working Capital    ICRA         122.5   Reaffirmed
                                        Limits                BB(Stable)
Gmr Aero Technic Ltd                    NCD (NCD) Programme   ICRA AA      1750    Withdrawn
                                                              (SO)
                                                              (Stable)
Hasimara Industries Ltd                 FB – CC               ICRA B       85      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
Hasimara Industries Ltd                 FB- TL                ICRA B       26.8    Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
Hasimara Industries Ltd                 Unallocated limit     ICRA B       14.9    -
                                                              (Stable) /
                                                              A4
(Long-term rating downgraded from ICRA BB- (Stable) and short-term rating reaffirmed)
Hecate Warehousing Pvt Ltd              Fund based-TL         ICRA A-      444.7   Assigned
                                                              (Stable)
Kotak Mahindra Prime Ltd                NCD Programme         ICRA         10000   Assigned
                                                              AAA(stable)
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA         7909    Outstanding
                                        Programme             AAA(stable)
Kotak Mahindra Prime Ltd                NCDs                  ICRA         17519   Outstanding
                                                              AAA(stable)
Kotak Mahindra Prime Ltd                CC and TL             ICRA         63910   Outstanding
                                                              AAA(stable)
Kotak Mahindra Prime Ltd                Nifty Linked          PP-MLDICRA   412.5   Outstanding
                                        Debentures            AAA(stable)
Neeru Menthol Pvt Ltd                   Issuer Rating         ICRA BBB-    -       Withdrawn
                                                              (Stable)
Pristine Industries Ltd                 LT – Fund Based – TL  ICRA         125     Reaffirmed
                                        Fac                   BB(Stable)
Pristine Industries Ltd                 LT – Fund Based –     ICRA         180     Reaffirmed
                                        Working Capital Fac   BB(Stable)
Pristine Industries Ltd                 LT – Unallocated      ICRA         95      Reaffirmed
                                                              BB(Stable)
Priyadarshini Polysacks Ltd             LT – Fund Based – TL  ICRA BBB-    271.5   Reaffirmed
                                        Fac                   (Stable)
Priyadarshini Polysacks Ltd             LT – Fund Based –     ICRA BBB-    220     Reaffirmed
                                        Working Capital Fac   (Stable)
Ravi Dyeware Company Pvt Ltd            LT/ST: Fund based     ICRA         590     Reaffirmed
                                                              A-(Stable)
                                                              / A2+
Sai-Laxmi Texofab                       Fund based-TL         ICRA         34.3    -
                                                              B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Sai-Laxmi Texofab                       Fund based- Working   ICRA         65      -
                                        Capital Facility      B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Sai-Laxmi Texofab                       Unallocated limit     ICRA         0.1     -
                                                              B+(Stable)
                                                              / A4
(Rating moved to the ‘Issuer Not Cooperating’ category)
Siddharth Colorchem Pvt Ltd             LT: Fund based        ICRA         5       Reaffirmed
                                                              A-(Stable)
Siddharth Colorchem Pvt Ltd             LT/ST: Fund           ICRA         575     Reaffirmed
                                        based/Non-fund based  A-(Stable)
                                                              / A2+
Umiya Wood Works Pvt. Ltd               FB CC                 ICRA         20      Reaffirmed
                                                              BB(Stable)
Vistaar Financial Services Pvt          Assignee Payouts      Provisional  610.4   Assigned
Ltd - Vistaar Bom Da Pool Oct                                 ICRA AA(SO)
2019 (Pcg)
Vistaar Financial Services Pvt          Assignee Payouts      Provisional  666.7   Assigned
Ltd - Vistaar Ubi Da Pool Oct                                 ICRA AA(SO)
2019 (Pcg)

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