October 17, 2017 / 10:57 AM / a month ago

ICRA ratings for Indian debt instruments-Oct 17

    Oct 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 16, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Accord Software & Systems Pvt           Non-fund based – BG   ICRA A2+#    120     
Ltd                                                                                
Accord Software & Systems Pvt           Non-fund based –      ICRA A2+#    20      
Ltd                                     Letter of Comfort                          
Accord Software & Systems Pvt           Non-fund based –      ICRA A2+#    15      
Ltd                                     Credit Exposure Limit                      
Astec Lifesciences Ltd                  ST, non-FBL           ICRA A1      460     Outstanding
Astec Lifesciences Ltd                  CP programme          ICRA A1      500     Outstanding
Coastal Energen Pvt Ltd                 ST Non-fund Based     ICRA D       400     Reaffirmed
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     40000   assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     30000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   Withdrawn
                                        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-MLDICRA   9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     50000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     50000   Assigned
Ltd                                     financing)
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+     25000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     55000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     55000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     55000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLDICRA   5000    Outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     40000   assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme          ICRA A1+     63500   Outstanding
Ltd
Edelweiss Financial Services            ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     30000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     40000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     40000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     40000   Withdrawn
Ltd                                     financing)
J.M. Financial & Investment             CP programme (IPO     ICRA A1+     8000    Withdrawn
Consultancy Services Pvt Ltd            Financing)**
**Rating was assigned in September 2017
J.M. Financial & Investment             CP programme          ICRA A1+     2000    Outstanding
Consultancy Services Pvt Ltd
Kalyani Maxion Wheels Pvt Ltd           ST, non-FBL           ICRA A1      600     Reaffirmed
M.G.M Springs Pvt Ltd                   ST - Non fund based   ICRA A4      32.5    Assigned
Mackintosh Burn Ltd                     Non-FB Fac            ICRA A2+     1000    Reaffirmed
Mohan Spintex India Ltd                 Non-FBL               ICRA A3+     117.4   Withdrawn
Mudrakshi Hytech India Pvt Ltd          BG                    ICRA A4+     120     Assigned
Nkc Projects Pvt Ltd                    Non-FBL               ICRA A3      2910    -
Issuer delayed in giving information
Ntpc Ltd                                Non-FBL               ICRA A1+     50000   Reaffirmed
Ntpc Ltd                                CP                    ICRA A1+     40000   Reaffirmed
Real Innerspring Technologies           Non-FBL               ICRA A4      5       Withdrawn
Pvt Ltd
United Spirits Ltd                      CP                    ICRA A1+     15000   Reaffirmed

LONG TERM RATINGS:
-------------------
Accord Software & Systems Pvt           FB – CC               ICRA A-#     190     
Ltd                                                                                
Astec Lifesciences Ltd                  LT, FB limits         ICRA A       2290    Outstanding
Astec Lifesciences Ltd                  LT, TL                ICRA A       215     Outstanding
Bhopal Dhule Transmission Co.           Issuer Rating         ICRA AAA#    -       
Ltd                                                                                
Bhopal Dhule Transmission Co.           NCDs                  ICRA AAA#    7350    
Ltd                                                                                
Brightstar Infrastructure Pvt           Fund based facility   ICRA BB+     400     -
Ltd
Brightstar Infrastructure Pvt           Fund based facility   ICRA BB+     400     -
Ltd
Coastal Energen Pvt Ltd                 TL                    ICRA D       61137.9 Reaffirmed
Coastal Energen Pvt Ltd                 CC                    ICRA D       11500   Reaffirmed
Coastal Energen Pvt Ltd                 LT Non-fund Based     ICRA D       4652    Reaffirmed
Coastal Energen Pvt Ltd                 Unallocated limit     ICRA D       252.1   Reaffirmed
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      110000  Outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   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
Ganga Developers                        BLR                   ICRA BB      125     -
Issuer not cooperating
Gmr Aerospace Engineering Ltd           Unallocated Limits    ICRA AA (SO) 29      -
Gmr Aerospace Engineering Ltd           TL                    ICRA AA      2816    -
                                                              (SO)
Gmr Aerospace Engineering Ltd           NCDs (NCD)            ICRA AA(SO)  1000    -
Gmr Aerotechnic Ltd                     NCDs (NCD)            ICRA AA(SO)  1750    -
Gmr Aerotechnic Ltd                     CC                    ICRA B+      275     -
Janta Land Promoters Pvt. Ltd.          TL                    ICRA D       2500    Revised from
                                                                                   ICRA BBB
Jeevisha Foods Pvt Ltd                  FB Limits             ICRA B+      103     ISSUER NOT
                                                                                   COOPERATING
Kalyani Maxion Wheels Pvt Ltd           LT, FB                ICRA A+      750     Reaffirmed
Kalyani Maxion Wheels Pvt Ltd           LT / ST, fund based / ICRA A+ /    650     Reaffirmed
                                        non-FBL               ICRA A1
Krn Alloys Pvt Ltd                      LT-Fundbased Limits   ICRA B-      83      ISSUER NOT
                                                                                   COOPERATING
Krn Alloys Pvt Ltd                      LTUnallocated         ICRA B-      27.6    ISSUER NOT
                                                                                   COOPERATING
Lrc Abarana Maaligai                    LT – Fundbased        ICRA B+      150     Issuer Not
                                                                                   Cooperating
M.G.M Springs Pvt Ltd                   LT - Fund based       ICRA BB-     52      Assigned
M.G.M Springs Pvt Ltd                   LT - Proposed Limits  ICRA BB-     15.5    Assigned
Mackintosh Burn Ltd                     FB Fac                ICRA BBB+    400     Reaffirmed
Mackintosh Burn Ltd                     Unallocated           ICRA BBB+    244.5   Reaffirmed
Maza Developers Pvt. Ltd                BLR                   ICRA BB+     100     -
Issuer not cooperating
Mid West Builders Pvt Ltd               LT FBTL               ICRA B       80      ISSUER NOT
                                                                                   COOPERATING
Mohan Spintex India Ltd                 TL                    ICRA BBB     2192.6  Withdrawn
Mohan Spintex India Ltd                 CC Limits             ICRA BBB     1050    Withdrawn
Mudrakshi Hytech India Pvt Ltd          CC                    ICRA BB      60      Assigned
Mudrakshi Hytech India Pvt Ltd          TL                    ICRA BB      107.5   Assigned
Mula Sahakari Sakhar Karkhana           FB – TL               ICRA B+      182.5   ISSUER NOT
Ltd                                                                                COOPERATING
Mula Sahakari Sakhar Karkhana           Unallocated           ICRA B+ /A4  147.5   ISSUER NOT
Ltd                                                                                COOPERATING
Nkc Projects Pvt Ltd                    FBL                   ICRA BBB-    520     -
Issuer delayed in giving information
Nkc Projects Pvt Ltd                    Unallocated Limits    ICRA BBB-    570     -
Issuer delayed in giving information
North Eastern Electric Power            NCD – Proposed        ICRA AA      10000   Assigned
Corporation Ltd
North Eastern Electric Power            NCD – XIth issue      ICRA AA      400     Outstanding
Corporation Ltd
North Eastern Electric Power            NCD – XIIth issue     ICRA AA      1200    Outstanding
Corporation Ltd
North Eastern Electric Power            NCD – XIIIth issue    ICRA AA      725     Outstanding
Corporation Ltd
North Eastern Electric Power            NCD – XIVth issue     ICRA AA      25000   Outstanding
Corporation Ltd
North Eastern Electric Power            NCD – XVIth issue     ICRA AA      9000    Outstanding
Corporation Ltd
North Eastern Electric Power            NCD – XVIIth issue    ICRA AA      3000    Outstanding
Corporation Ltd
North Eastern Electric Power            Issuer Rating**       ICRA AA      -       Outstanding
Corporation Ltd
**With effect from Sep 1, 2017, ICRA has aligned the symbols and the definitions of ratings
pertaining to the Issuer Rating Scale with that of the Long-Term Rating Scale. The change in the
symbol is not to be construed as a change in the credit rating.
North Eastern Electric Power            FBL – ST/LT Loan      ICRA AA/     5000*** Outstanding
Corporation Ltd                                               ICRA A1+
***The Rs 500 crore limits are rated on both long term and short term scales attracting tenure
as per usage
Ntpc Ltd                                Bonds                 ICRA AAA     100000  Assigned
Ntpc Ltd                                Bonds                 ICRA AAA     337123.3Reaffirmed
Ntpc Ltd                                TL                    ICRA AAA     650000  Reaffirmed
Ntpc Ltd                                FB Limits             ICRA AAA     20000   Reaffirmed
Omics International Pvt Ltd             FB – Secured OverdraftICRA BB+     100     Assigned
Omics International Pvt Ltd             LT-TL                 ICRA BB+     95      Assigned
Omics International Pvt Ltd             LT-CC                 ICRA BB+     5       Assigned
Omics International Pvt Ltd             LT –Unallocated       ICRA BB+     800     Assigned
R.S. Brothers Retail India Pvt          FB – CC               ICRA A-      650     Outstanding
Ltd
R.S. Brothers Retail India Pvt          TL                    ICRA A-      433.8   Assigned
Ltd
R.S. Brothers Retail India Pvt          Unallocated           ICRA A-      6.2     Assigned
Ltd
Rainbow Children’S Medicare             NCD                   ICRA A+      1000    Upgraded
Pvt Ltd                                                                            from ICRA A
Real Innerspring Technologies           FB Limits             ICRA B+      36      Withdrawn
Pvt Ltd
Real Innerspring Technologies           Unallocated           ICRA B+      19      Withdrawn
Pvt Ltd
Riona Laminates Pvt Ltd                 CC Limits             ICRA B+      35      -
Issuer not cooperating
Riona Laminates Pvt Ltd                 TL                    ICRA B+      30      -
Issuer not cooperating
Sri Lakshmi Ammal Educational           TL/Fund based /       ICRA BBB+ /  1600    -
Trust                                   Non-fund based Bk     ICRA A2
                                        lines
Sri Lakshmi Ammal Educational           TL/Fund based /       ICRA BBB+    1600    -
Trust                                   Non-fund based Bk     /ICRA A2
                                        lines
United Spirits Ltd                      FB Fac                -            -       -
United Spirits Ltd                      Non- FB Fac           -            -       -
United Spirits Ltd                      TL                    ICRA AA      5000    Reaffirmed
United Spirits Ltd                      NCDs                  ICRA AA      7650    Reaffirmed
United Spirits Ltd                      LT/ST Fund            ICRA AA /    49000   Reaffirmed
                                        Based/Non-fund Based  A1+
Vijay Builders & Constructions          FB – CC               ICRA BB      20      Reaffirmed
Pvt Ltd
Vijay Builders & Constructions          Non-fund based – BG   ICRA BB      55      Reaffirmed
Pvt Ltd
--------------------------------------------------------------------------------------------
$: 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below