September 10, 2019 / 10:38 AM / 5 days ago

ICRA ratings for Indian debt instruments-Sep 10

    Sep 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 9, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Gujarat Narmada Valley                  Non-FB Fac            ICRA A1+     8250    Reaffirmed
Fertilizers And Chemicals Ltd
Gujarat Narmada Valley                  CP Programme          ICRA A1+     10000   Reaffirmed
Fertilizers And Chemicals Ltd
Kalyan Jewellers India Ltd              ST - Fund based /     ICRA A2+     -       Reaffirmed
                                        Non-fund based (sub
                                        limits)
Kirloskar Ferrous Industries            CP                    ICRA A1+     1000    Reaffirmed
Ltd
Pon Pure Chemical India Pvt Ltd         ST, Non-FB Fac        ICRA A2      4040    Reaffirmed
Pon Pure Chemical India Pvt Ltd         ST, Unallocated LimitsICRA A2      130     Reaffirmed
Pon Pure Chemical India Pvt Ltd         ST, FB/Non-fund Based ICRA A2      -       Reaffirmed
                                        (Sublimit)
Power Mech Infra Ltd                    Non-FBL               ICRA A4+     200     Downgraded
                                                                                   from ICRA A3
(Revised to Stable from positive; Rating moved to the ‘Issuer Not Cooperating’ category)
Pure Chemicals Co                       ST, Non-fund Based    ICRA A3+     390     Reaffirmed
                                        Working Capital Fac
Pure Chemicals Co                       ST, Non-fund Based    ICRA A3+     -       Reaffirmed
Tata Realty And Infrastructure          CP                    ICRA A1+     20000   Reaffirmed /
Ltd                                                                                Assigned
Thangamayil Jewellery Ltd               ST (Interchangeable)  ICRA A2      -       Reaffirmed
Uti Asset Management Co. Ltd            UTI Money Market Fund ICRA A1+mfs  -       Outstanding
Uti Asset Management Co. Ltd            UTI Liquid Cash Plan  ICRA A1+mfs  -       Outstanding
Uti Asset Management Co. Ltd            UTI Overnight Fund    ICRA A1+mfs  -       Outstanding
Wendt (India) Ltd                       ST - Non-Fund Based   ICRA A1+     90      Reaffirmed



MEDIUM TERM RATINGS:
-------------------
Kalyan Jewellers India Ltd              Medium term – Fixed   MA- (stable) 5250    Reaffirmed
                                        deposit
Thangamayil Jewellery Ltd               Medium-term – Fixed   MA- (stable) 590     Reaffirmed
                                        Deposit


LONG TERM RATINGS:
-------------------
Akshar Cotton Industries                FB – TL               ICRA B+      0.3     -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Akshar Cotton Industries                Fun-based – CC        ICRA B+      100     -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Akshar Cotton Industries                Unallocated Limits    ICRA B+      13.9    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Color Chemicals                         LT, FB Fac (CC)       ICRA         110     Reaffirmed
                                                              BBB(Stable)
Gujarat Narmada Valley                  FB Fac                ICRA         14250   Reaffirmed
Fertilizers And Chemicals Ltd                                 AA+(Stable)
Gujarat Narmada Valley                  LT / ST FB            ICRA         750     Reaffirmed
Fertilizers And Chemicals Ltd                                 AA+(Stable)
                                                              / ICRA A1+
Gujarat Narmada Valley                  LT / ST Non-fund BasedICRA         750     Reaffirmed
Fertilizers And Chemicals Ltd                                 AA+(Stable)
                                                              / ICRA A1+
Kalyan Jewellers India Ltd              TL                    ICRA A-      2530    Reaffirmed
                                                              (stable)
Kalyan Jewellers India Ltd              LT / ST - Fund based  ICRA A-      27770   Reaffirmed
                                                              (stable) /
                                                              ICRA A2+
Kirloskar Ferrous Industries            FB - TL               ICRA         1880    Reaffirmed
Ltd                                                           AA-(Stable)
Kirloskar Ferrous Industries            FB - Working Capital  ICRA         4550    Reaffirmed
Ltd                                     Fac                   AA-(Stable)
                                                              / ICRA A1+
Kirloskar Ferrous Industries            Non-fund Based -      ICRA         6900    Reaffirmed
Ltd                                     Working Capital Fac   AA-(Stable)
                                                              / ICRA A1+
Kishan Ginning & Pressing               FB – CC               ICRA B+      135     Withdrawn
Factory                                                       (Stable)
Lulu International Shopping             FB -TL                ICRA         12800   Assigned
Mall Pvt. Ltd.                                                BBB+(Stable)
Lulu International Shopping             FB - Working Capital  ICRA         1500    Assigned
Mall Pvt. Ltd.                          Fac                   BBB+(Stable)
Lulu International Shopping             Unallocated (LT)      ICRA         4200    Assigned
Mall Pvt. Ltd.                                                BBB+(Stable)
Pon Pure Chemical India Pvt Ltd         LT, FB / Non - fund   ICRA BBB+    -       Reaffirmed
                                        Based (Sublimit)      (Stable)
Pon Pure Chemical India Pvt Ltd         LT / ST Fundbased /   ICRA BBB+    -       Reaffirmed
                                        Non - fund Based      (Stable) /
                                        (Sublimit)            A2
Pon Pure Chemical India Pvt Ltd         LT / ST Fundbased /   ICRA BBB+    720     Reaffirmed
                                        Non-FBL               (Stable) /
                                                              A2
Pon Pure Chemical India Pvt Ltd         LT, FB Fac (CC)       ICRA         530     Reaffirmed
                                                              BBB+(Stable)
Power Mech Infra Ltd                    FBL                   ICRA BB+     30      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BBB-
(Revised to Stable from positive; Rating moved to the ‘Issuer Not Cooperating’ category)
Power Mech Infra Ltd                    Unallocated Limits    ICRA         400     Downgraded
                                                              BB+(Stable)          from ICRA
                                                                                   BBB-
(Revised to Stable from positive; Rating moved to the ‘Issuer Not Cooperating’ category)
Pure Chemicals Co                       LT, FB Working        ICRA         130     Reaffirmed
                                        Capital Fac           BBB(Stable)
Pure Chemicals Co                       LT, FB (Sublimit)     ICRA         -       Reaffirmed
                                                              BBB(Stable)
S.E. Builders And Realtors Ltd          LT FB Fac             ICRA BBB+    2000    Reaffirmed
(Sebrl)                                                       (Negative)
Shivalakha Solar Energy Pvt Ltd         FB TL                 ICRA BB      1121.3  Downgraded
                                                              (Negative)           from ICRA BB+
(Continued on Negative Outlook)
Skr Wind Energy                         LT fund based – TL    ICRA BB+     59.2    Withdrawn
                                                              (SO)
                                                              (Stable)
Skr Wind Energy                         LT un-allocated LimitsICRA BB+     24.1    Withdrawn
                                                              (SO)
                                                              (Stable)
Spi Power                               LT fund based – TL    ICRA BBB-    333.5   Withdrawn
                                                              (SO)
                                                              (Stable)
Tata Realty And Infrastructure          NCD                   ICRA AA      30000   Reaffirmed
Ltd                                                           (Stable)
Thangamayil Jewellery Ltd               LT – FB Fac           ICRA BBB+    2550    Reaffirmed
                                                              (Stable)
Thangamayil Jewellery Ltd               LT/ST – Proposed Fac  ICRA BBB+    450     Reaffirmed
                                                              (Stable)/A2
Uti Asset Management Co. Ltd            UTI Corporate Bond    ICRA AAAmfs  -       Assigned
                                        Fund
Uti Asset Management Co. Ltd            UTI Capital           ICRA         -       Outstanding
                                        Protection Oriented   AAAmfs(SO)
                                        Scheme Series X - Plan 2
Uti Asset Management Co. Ltd            UTI Capital           ICRA         -       Outstanding
                                        Protection Oriented   AAAmfs(SO)
                                        Scheme Series IX - Plan 1
Uti Asset Management Co. Ltd            UTI Capital           ICRA         -       Outstanding
                                        Protection Oriented   AAAmfs(SO)
                                        Scheme Series IX - Plan 2
Uti Asset Management Co. Ltd            UTI Capital           ICRA         -       Outstanding
                                        Protection Oriented   AAAmfs(SO)
                                        Scheme Series IX - Plan 3
Uti Asset Management Co. Ltd            UTI Ultra ST Fund     ICRA AAmfs   -       Outstanding
Uti Asset Management Co. Ltd            UTI Treasury          ICRA BBB+mfs -       Outstanding
                                        Advantage Fund
Uti Asset Management Co. Ltd            UTI Bond Fund         ICRA BBBmfs@ -       Outstanding
@Under rating watch with negative implications
Uti Asset Management Co. Ltd            UTI Dynamic Bond Fund ICRA BBBmfs@ -       Outstanding
@Under rating watch with negative implications
Uti Asset Management Co. Ltd            UTI Bking and PSU     ICRA         -       Outstanding
                                        Debt Fund             BBB-mfs@
@Under rating watch with negative implications
Vikas Cotton Ginning & Pressing         Fund based-CC         ICRA D       120     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Vikas Cotton Ginning & Pressing         Unallocated Limits    ICRA D       51      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Wendt (India) Ltd                       LT - Fund Based/ CC   ICRA         20      Reaffirmed
                                                              AA-(Stable)

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