October 26, 2018 / 12:02 PM / a year ago

ICRA ratings for Indian debt instruments-Oct 26

   Oct 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 25, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A. S. Steel Traders(Vsp) Pvt            Non-fund bases limits ICRA A4      150     -
Ltd
Issuer delayed in giving information
Akhandalamani Electricals &             Non-Fund based – LOC  ICRA A4+     20      -
Construction
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Concrete Udyog Ltd                      Non-fund Based        ICRA A4+     130     -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Deccan Tobacco Company                  Fund Based – Packing  ICRA A2      1000    -
                                        Credit
Review process is underway
Deepak Fertilisers &                    CP                    ICRA A1+     10000   outstanding
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    Non-FBL Rated Amount  ICRA A1+     12000   outstanding
Petrochemicals Corporation Ltd          (Rs. cr)
Delhi Airport Parking Services          NFBL                  ICRA A1+     50      Assigned
Pvt Ltd
Den Networks Ltd                        Non-fund Based        ICRA A1      150     -
                                        Working Capital Fac
placed on Watch with Positive Implications
Derewala Industries Ltd                 ST FBL                ICRA A3      330     -
Review process is underway; it is expected to be concluded soon after receiving the 
required information from the client
Derewala Industries Ltd                 ST Non-FBL            ICRA A3      1535    -
Review process is underway; it is expected to be concluded soon after receiving the 
required information from the client
Gouttephone Technology Pvt Ltd          ST Loan               ICRA D       85      Reassigned
                                                                                   from ICRA
                                                                                   A2+(SO)
Jay Shree Tea & Industries Ltd          Non-FBL               ICRA A2      451.8   Reaffirmed
Kongovi Pvt Ltd                         ST – Non-fund based   -            -       -
Kongovi Pvt Ltd                         ST – Interchangeable  ICRA A2+     -       Upgraded
                                                                                   from ICRA A2
Lucky Steel Industries (Ship            ST non FB             ICRA A4      741.5   -
Breaking Division)
(Issuer Not Cooperating) 
Magnam Netlink Pvt. Ltd.                Non FB – BG           ICRA A4      270     Revised from
                                                                                   ICRA A4+
Magnam Netlink Pvt. Ltd.                Non fund based LOC    ICRA A4      -       Revised from
                                                                                   ICRA A4+
Magnam Netlink Pvt. Ltd.                Non fund based        ICRA A4      -       Revised from
                                        Credit Exposure Limits                     ICRA A4+
Mold-Tek Packaging Ltd                  ST, Non-FBL           ICRA A1      10      outstanding
Navneeta Steels Pvt Ltd                 NFBL                  ICRA A4      60      Reaffirmed
Noble Natural Resources India           ST FB Limits          ICRA A1+ (S) 2700    Withdrawn
Pvt Ltd
on watch with developing implications
North India Surgical Company            NFB                   ICRA A4      10      -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Power Mech Infra Ltd                    Non-FBL               ICRA A3      200     Reaffirmed
Shivam Motors Pvt Ltd                   FB                    ICRA A4      30      -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Shreenathji Cotgin Pvt Ltd              ST non FB             ICRA A4      1       -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Sogefi - Mnr Engine Systems             ST –Fund based        ICRA A1+     300     upgraded
India Pvt Ltd                                                                      from ICRA A1
Sogefi - Mnr Engine Systems             ST –Interchangeable   ICRA A1+     -       upgraded
India Pvt Ltd                           (LC)^                                      from ICRA A1
Srinivasa Edifice Pvt Ltd               Non-fund bases limits ICRA A4+     300     -
Issuer delayed in giving information
Tata Global Beverages Ltd               Non-FBL               ICRA A1+     240     Reaffirmed
Tata Global Beverages Ltd               ST debt               ICRA A1+     7150    Reaffirmed
(including Commercial 715 Paper)**
Tata Sons Pvt Ltd (Erstwhile            CP Programme          ICRA A1+     135000  Reaffirmed
Tata Sons Ltd)
Umsl Ltd (Erstwhile Utkal               ST- Non-FBL ST-       ICRA A2+     -       Reaffirmed -
Manufacturing & Services Ltd)           Unallocated limits
Y. S. Investments                       ST non FB             ICRA A4      869     -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
A. S. Steel Traders(Vsp) Pvt            Fund bases limits     ICRA BB-     350     -
Ltd
Issuer delayed in giving information

LONG TERM RATINGS:
-------------------
Akal Pipe Industries                    LT - Fund Based/ CC   ICRA D       25      -
(Issuer Not Cooperating) 
Akal Pipe Industries                    LT - Fund Based TL    ICRA D       69      -
(Issuer Not Cooperating) 
Akhandalamani Electricals &             Fund based – CC       ICRA BB      130     -
Construction
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Akhandalamani Electricals &             Non-Fund based – BG   ICRA BB      160     -
Construction
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Ankit Pulps And Boards Pvt Ltd          LT FB CC              ICRA BB+     82.5    Reaffirmed
Ankit Pulps And Boards Pvt Ltd          LT FB TL              ICRA BB+     17.5    Reaffirmed
Ankit Pulps And Boards Pvt Ltd          LT Non-fund Based     ICRA BB+     -       Reaffirmed
                                        (Interchangeable –
                                        sublimit of CC)
Ascent Hotels Pvt Ltd                   FB – TL               ICRA BBB-    1400    -
Review process is underway
Ascent Hotels Pvt Ltd                   FB – Bullet Loans     ICRA BBB-    800     -
Review process is underway
Baba Bhuman Shah Ji Rice Mills          Fund Based- Working   ICRA B       170     -
                                        Capital
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Baba Bhuman Shah Ji Rice Mills          FB TL                 ICRA B       30      -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Balbir Alloys Pvt Ltd                   Bk loans              ICRA B+ /    219.9   -
                                                              ICRA A4
(Issuer Not Cooperating) 
Burakia Steel & Alloys                  Fund based – TL       ICRA B+      28
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Burakia Steel & Alloys                  Fund based – Working  ICRA B+      15
                                        Capital TL
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Burakia Steel & Alloys                  Fund based – Open CC  ICRA B+      50
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Cae Simulation Training Pvt Ltd         TL                    ICRA A       1043.1  Reaffirmed
Concrete Udyog Ltd                      Fund Based- Working   ICRA BB+     120     -
                                        Capital
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Concrete Udyog Ltd                      Fund Based- TL        ICRA BB+     50      -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Deepak Fertilisers &                    NCD                   ICRA AA-     5000    Assigned
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    TL                    ICRA AA-     4310    outstanding
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    CC                    ICRA AA-     9750    outstanding
Petrochemicals Corporation Ltd
Delhi Airport Parking Services          Fund based- TL        ICRA A+      1100    Reaffirmed
Pvt Ltd
outlook revised to Positive from Stable
Den Networks Ltd                        FB TL                 ICRA A       5256.2  -
placed on Watch with Positive Implications
Den Networks Ltd                        FB Working Capital FacICRA A       1050    -
placed on Watch with Positive Implications
Den Networks Ltd                        Unallocated Limits    ICRA A1 /    35.8    -
                                                              ICRA A
placed on Watch with Positive Implications
Derewala Industries Ltd                 LT FBL                ICRA BBB-    145     -
Review process is underway; it is expected to be concluded soon after receiving the 
required information from the client
Derewala Industries Ltd                 Unallocated           ICRA BBB-    100     -
Review process is underway; it is expected to be concluded soon after receiving the 
required information from the client
Derewala Industries Ltd                 LT/ST Interchangeable ICRA BBB- /  -       -
                                        (Sublimits of FBL)    ICRA A3
Review process is underway; it is expected to be concluded soon after receiving the 
required information from the client
Goverdhan Verma Punjab                  LT - Fund Based/ CC   ICRA B+      62      -
Jewellers Pvt Ltd
Continues to remain under the ‘(Issuer Not Cooperating) ’ category
Jay Shree Tea & Industries Ltd          TL                    ICRA BBB+    1318.8  Reaffirmed
Jay Shree Tea & Industries Ltd          FB limits             ICRA BBB+    2115    Reaffirmed
                                                              / ICRA A2
Karnataka Water And Sanitation          TL                    ICRA AA-     2323.3  Reaffirmed
Pooled Fund                                                   (SO)
Karnataka Water And Sanitation          TL                    ICRA AA-     -       Reaffirmed
Pooled Fund                                                   (SO)
Karnataka Water And Sanitation          Bond Programme        ICRA AA+     166.7   Reaffirmed
Pooled Fund                                                   (SO)
Kaushalya Roller Flour Mills            LT FB - CC            ICRA BB-     140     Assigned
Pvt Ltd
Kaushalya Roller Flour Mills            LT / ST - Unallocated ICRA BB- /   25      Assigned
Pvt Ltd                                                       ICRA A4
Kongovi Pvt Ltd                         LT – Unallocated      -            -       -
Kongovi Pvt Ltd                         LT – Fund Based (TL)  ICRA BBB+    510     Reaffirmed
Kongovi Pvt Ltd                         LT – Fund Based (CC)  ICRA BBB+    200     Reaffirmed
Lucky Steel Industries (Ship            LT fundbased          ICRA B+      100     -
Breaking Division)
(Issuer Not Cooperating) 
Lypsa Gems And Jewellery Ltd            LT/ST FB/Non-fundbasedICRA D /     500     -
                                                              ICRA D
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Magnam Netlink Pvt. Ltd.                FB – CC               ICRA BB-     30      Revised from
                                                                                   ICRA BB
outlook revised to Stable from Negative
Mazda Ltd                               FB – CC               ICRA A       -       Reaffirmed
^includes sublimit of Rs. 4.00 crore EPC/PCFC and Rs. 2.00 crore FBD/EBR
Mazda Ltd                               Non-FB Fac            ICRA A /     183.8   Reaffirmed
                                                              ICRA A1
Mazda Ltd                               Unallocated           ICRA A       20      Reaffirmed
                                                              /ICRA A1
Mold-Tek Packaging Ltd                  LT, Fund based        ICRA A       800     outstanding
Mold-Tek Packaging Ltd                  LT/ST, Unallocated    ICRA A       160     outstanding
                                        Limits                /ICRA A1
Navneeta Steels Pvt Ltd                 FBL                   ICRA BB-     400     Reaffirmed
Noble Natural Resources India           LT/ ST FB Limits      ICRA AA-(S)  750     Withdrawn
Pvt Ltd                                                       / ICRA
                                                              A1+(S)
on watch with developing implications
North India Surgical Company            Fund Based- Working   ICRA B       110     -
                                        Capital
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Power Mech Infra Ltd                    FBL                   ICRA BBB-    30      Reaffirmed
outlook revised to positive from stable
Power Mech Infra Ltd                    Unallocated Limits    ICRA BBB-    400     Reaffirmed
outlook revised to positive from stable
Radhee Foods Pvt Ltd                    LT FB - CC            ICRA BB-     130     Assigned
Rani Sati Roller Flour Mills            LT FB CC              ICRA BB-     130     Assigned
Pvt Ltd
Rani Sati Roller Flour Mills            LT / ST - Unallocated ICRA         25      Assigned
Pvt Ltd                                                       BB-/ICRA A4
Ranisati Foods Pvt Ltd                  LT FB CC              ICRA BB-     120     Assigned
Ranisati Foods Pvt Ltd                  LT FB TL              ICRA BB-     2.8     Assigned
Ranisati Foods Pvt Ltd                  LT / ST - Unallocated ICRA BB- /   28.7    Assigned
                                                              ICRA A4
Seven Sky Entertainment Pvt.            FB – TL               ICRA BB      150     Assigned
Ltd.
Shakti Polytex Pvt Ltd                  Fund Based- Working   ICRA D       180     -
                                        Capital
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Shakti Polytex Pvt Ltd                  Fund Based- TL        ICRA D       58.5    -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Shakti Polytex Pvt Ltd                  Unallocated           ICRA D       31.5    -
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Sheeltron Digital Systems Pvt           LT TL                 ICRA BB      25      -
Ltd
Issuer delayed in giving information
Sheeltron Digital Systems Pvt           LT CC                 ICRA BB      48      -
Ltd
Issuer delayed in giving information
Shitaram Industries                     LT fundbased          ICRA B-      53.3    -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Shivam Motors Pvt Ltd                   Fund Based- Working   ICRA BB-     530     -
                                        Capital
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Shivam Motors Pvt Ltd                   Unallocated           ICRA BB-     220     -
                                                              /A4
Rating continues to remain in the ‘(Issuer Not Cooperating) ’ category
Shreenathji Cotgin Pvt Ltd              LT fundbased          ICRA B-      80      -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Shreenathji Cotgin Pvt Ltd              Unallocated limits    ICRA B-      15.7    -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Sogefi - Mnr Engine Systems             LT –unallocated       -            -       -
India Pvt Ltd
Sogefi - Mnr Engine Systems             LT– Interchangeable   ICRA A+      -       Upgraded
India Pvt Ltd                           (CC)^                                      from ICRA A
outlook revised to Stable from Positive -
^interchangeable with short-term fund-based facilities 
Sri Durga Enterprises                   Fund bases limits     ICRA B+      250     -
Issuer delayed in giving information
Srinivasa Edifice Pvt Ltd               Fund bases limits     ICRA BB+     140     -
Issuer delayed in giving information
Srinivasa Edifice Pvt Ltd               Unallocated Limits    ICRA BB+/    460     -
                                                              ICRA A4+
Issuer delayed in giving information
Sun Hospitality & Service               FBL TL                ICRA D       130     -
Apartments Pvt Ltd
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Tata Global Beverages Ltd               LT debt (including    ICRA AA+     3500    Reaffirmed
                                        NCD)
Tata Global Beverages Ltd               FB working capital    ICRA AA+ /   4000    Reaffirmed
                                        limits#               ICRA A1+
#Long-term fund-based limits can also be utilised as short-term fund based limits,
 wherein the short-term rating of       A1+ would be applicable; ** Total borrowing 
 under CP and fund-based facilities from banks to remain within an overall limit 
 of Rs. 715 crore 
Tata Sons Pvt Ltd (Erstwhile            NCD Programme         ICRA AAA     270100  Reaffirmed
Tata Sons Ltd)
Tbpr Infra Projects Pvt Ltd             Bk loan Ratings       ICRA B-      340     -
(Issuer Not Cooperating) 
Tcs And Associates Pvt Ltd              LT - Fund Based/ CC   ICRA BB-     392.9   -
Continues to remain under the ‘(Issuer Not Cooperating) ’ category
Tcs And Associates Pvt Ltd              LT - Fund Based TL    ICRA BB-     7.1     -
Continues to remain under the ‘(Issuer Not Cooperating) ’ category
Transasia Bio-Medicals Ltd              LT / ST, FB / Non-FBL ICRA AA- /   1320
                                                              ICRA A1+
Umsl Ltd (Erstwhile Utkal               LT- FB- Working       ICRA A-      1200    Reaffirmed
Manufacturing & Services Ltd)           Capital Fac
Umsl Ltd (Erstwhile Utkal               LT- Non-FBL           ICRA A-      400     Reaffirmed
Manufacturing & Services Ltd)
Vinayak Cottex                          LT fundbased          ICRA B       76.7    -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Y. S. Investments                       LT fundbased          ICRA B+      100     -
Rating continues to remain under ‘(Issuer Not Cooperating) ’ category
Zaveri Exports Pvt Ltd                  Bk loan Ratings       ICRA B-      130     -
(Issuer Not Cooperating) 
Zeta Industrial Corporation             FBL                   ICRA B-      25      Revised from
Pvt Ltd                                                                            ICRA B+
(Issuer Not Cooperating) 
Zeta Industrial Corporation             NFBL                  ICRA B-      45      Revised from
Pvt Ltd                                                                            ICRA B+
(Issuer Not Cooperating) 
Zeta Industrial Corporation             Unallocated           ICRA B-      30      Revised from
Pvt Ltd                                                                            ICRA B+
(Issuer Not Cooperating) 
--------------------------------------------------------------------------------------------
$: 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)
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