September 13, 2017 / 10:55 AM / 2 months ago

ICRA ratings for Indian debt instruments-Sep 13

    Sep 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 12, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aadi Polymers Pvt Ltd                   NFBL                  ICRA A4      10      Assigned
Aditya Birla Finance Ltd                CP programme (IPO     ICRA A1+     50000   Assigned
                                        Financing)
Aditya Birla Finance Ltd                CP programme          ICRA A1+     100000  Outstanding
Aditya Birla Finance Ltd                CP programme (IPO     ICRA A1+     50000   Withdrawn
                                        Financing)
Akp Foundries Pvt Ltd                   Non-FB Fac            ICRA A4+     10      -
Issuer delayed in giving information
Akshat Plastics Pvt Ltd                 Non-FB Fac            ICRA A4      233     -
Issuer not cooperating
Balaji Overseas                         ST Fund Based         ICRA A4      240     -
ISSUER NOT COOPERATING
Balaji Overseas                         ST Non Fund Based     ICRA A4      1.2     -
ISSUER NOT COOPERATING
Bhavin Agri-Infra Pvt Ltd               Non-FB Fac            ICRA A4      140     -
Issuer not cooperating
Chvv Subba Rao                          ST Non-FB Fac         ICRA A4      100     Reaffirmed
Green Farm Agri Exports                 Non-FBL               ICRA A4      6.9     Reaffirmed
Haldiram Snacks Pvt Ltd                 Non-FBL               ICRA A1+     525     -
Rating watch with developing implication
Isgec Heavy Engineering Ltd             Non-fund based        ICRA A1+     24511   Reaffirmed
K-Pack Systems Pvt Ltd                  ST Non-FB Fac         ICRA A4      20      Reaffirmed
K-Pack Systems Pvt Ltd                  ST Unallocated Fac    ICRA A4      17.5    Reaffirmed
Neogrowth Credit Pvt Ltd                CP Programme          ICRA A2      400     Assigned
Polixel Security Systems Pvt            LC/BG                 ICRA A4      100     -
Ltd
ISSUER NOT COOPERATING
Remsons Industries Ltd                  ST NFBL               ICRA A4+     7       Reaffirmed
Saurashtra Calcine Bauxite And          Fund Based– Bills     ICRA A4+     26      Withdrawn
Allied Industries Ltd                   Purchase/Bills
Saurashtra Calcine Bauxite And          Non Fund Based – LOC  ICRA A4+     8       Withdrawn
Allied Industries Ltd
Saurashtra Calcine Bauxite And          Fund Based– PC/FBP/FBDICRA A4+     ^       Withdrawn
Allied Industries Ltd
^sublimit for cash credit facility
Saurashtra Calcine Bauxite And          Non Fund Based– BG    ICRA A4+     #       Withdrawn
Allied Industries Ltd
#sublimit of letter of credit
Servocontrols Aerospace India           ST – FB Fac           ICRA A4      2       -
Pvt Ltd
Issuer delayed in giving information
Servocontrols Aerospace India           ST – Non-FB Fac       ICRA A4      20      -
Pvt Ltd
Issuer delayed in giving information
Sri Manakula Vinayaga                   BG                    ICRA A4      144.5   -
Educational Trust
ISSUER NOT COOPERATING
Taneja Vidyut Control Pvt Ltd           ST Non Fund Based     ICRA A4      35      -
ISSUER NOT COOPERATING
Umsl Ltd                                ST Non-FBL            ICRA A2+     600     Outstanding
Umsl Ltd                                ST – Unallocated      ICRA A2+     500     Assigned
ISSUER NOT COOPERATING
B.P. Food Products Pvt                  ST: Non-FBL           ICRA D       450     -
ISSUER NOT COOPERATING
ISSUER NOT COOPERATING

LONG TERM RATINGS:
-------------------
Aadi Polymers Pvt Ltd                   FB – CC               ICRA BB      35      Assigned
Aadi Polymers Pvt Ltd                   FB – TL               ICRA BB      55      Assigned
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     140000  Outstanding
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     25000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA      7000    Outstanding
                                        programme             (hyb)
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     20000   Assigned
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AA+     15000   Assigned
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA AA+/A1+ 169350  Assigned /
                                                                                   Outstanding
Akp Foundries Pvt Ltd                   TL                    ICRA BB+     11      -
Issuer delayed in giving information
Akp Foundries Pvt Ltd                   FB Fac                ICRA BB+     47.5    -
Issuer delayed in giving information
Akp Foundries Pvt Ltd                   Unallocated Fac       ICRA BB+/    1.5     -
                                                              A4+
Issuer delayed in giving information
Akshat Plastics Pvt Ltd                 FB Fac                ICRA BB-     45      -
Issuer not cooperating
Alpha Tocol Engineering                 LT - FB               ICRA B+      107.4   -
Services Pvt Ltd
Issuer delayed in giving information
Alpha Tocol Engineering                 LT - Non-fund based   ICRA B+      5       -
Services Pvt Ltd
Issuer delayed in giving information
Balaji Overseas                         LT Fund Based         ICRA B       58.8    -
ISSUER NOT COOPERATING
Banashankari Agro Farms Llp             Fund based – Proposed ICRA B       93.1    -
                                        Fac
Review process is underway
Bhavin Agri-Infra Pvt Ltd               FB Fac                ICRA B+      20      -
Issuer not cooperating
Biax Electric & Controls Pvt.           FB – PC/PCFC          ICRA D       55      Assigned
Ltd.
Biax Electric & Controls Pvt.           Non-fund based – LOC  ICRA D       20      Assigned
Ltd.
B.P. Food Products Pvt                  LT: FB limits         ICRA D       750     -
ISSUER NOT COOPERATING
B.P. Food Products Pvt                  LT: TL                ICRA D       612.9   -
B.P. Food Products Pvt                  LT/ST: Unallocated    ICRA D       187.1   -
                                        limits
Chvv Subba Rao                          LT FB CC              ICRA B+      20      Reaffirmed
Chvv Subba Rao                          LT/ST Unallocated Fac ICRA B+/A4   110     Reaffirmed
Esskay Fincorp Pvt. Ltd.                PTC Series A1         ICRA A-      323.9   Assigned
Esskay Fincorp Pvt. Ltd.                PTC Series A2         ICRA BBB-    12      Assigned
Frontier Emporio                        CC                    ICRA BB-     80      -
ISSUER NOT COOPERATING
Frontier Emporio                        TL                    ICRA BB-     26      -
ISSUER NOT COOPERATING
Frontier Emporio                        Unallocated           ICRA BB-/A4  14      -
ISSUER NOT COOPERATING
Gangtok Municipal Corporation           Issuer Rating         ICRA BB      -       Assigned
Gillco Construction Pvt Ltd             FB limits             ICRA B+      100     Assigned
Green Farm Agri Exports                 FB Limits             ICRA B+      76      Reaffirmed
Green Farm Agri Exports                 Unallocated Limits    ICRA B+ / A4 15.8    Reaffirmed
Gsr Textiles Pvt Ltd                    FBL                   ICRA D       182.7
Issuer delayed in giving information
Gsr Textiles Pvt Ltd                    NFBL                  ICRA D       182.7
Issuer delayed in giving information
Gsr Textiles Pvt Ltd                    Unallocated Limits    ICRA D       182.7
Issuer delayed in giving information
Haldiram Snacks Pvt Ltd                 CC Limits             ICRA AA      3600    -
Rating watch with developing implication
Haldiram Snacks Pvt Ltd                 TL                    ICRA AA      750     -
Rating watch with developing implication
Haritha Fertilisers Ltd                 LT- CC                ICRA C       310     Downgraded
                                                                                   from ICRA B
Haritha Fertilisers Ltd                 LT/STUnallocated LimitICRA C       40      Downgraded
                                                                                   from ICRA B
                                                                                   / A4
Isgec Heavy Engineering Ltd             FB                    ICRA AA      3000    Reaffirmed
Isgec Heavy Engineering Ltd             Non-fund based        ICRA AA      989     Reaffirmed
Isgec Heavy Engineering Ltd             Proposed              ICRA AA      3000    Reaffirmed
Isgec Heavy Engineering Ltd             FB / Non-fund based   ICRA AA/A1+  1500    Reaffirmed
Kotadiya Reality                        FBL                   ICRA BB-     320     Reaffirmed
K-Pack Systems Pvt Ltd                  LT FB CC              ICRA B+      12.5    Reaffirmed
M L Rice Mills                          FB limits             ICRA B+      235     -
ISSUER NOT COOPERATING
Neogrowth Credit Pvt Ltd                NCDs Programme        ICRA BBB     3105.5  Outstanding
Neogrowth Credit Pvt Ltd                LT Bk Fac             ICRA BBB     1500    Outstanding
Nithin Bagamane                         LT Fund Based – TL    ICRA BB+     100     Withdrawn
Polixel Security Systems Pvt            CC                    ICRA BB-     25      -
Ltd
ISSUER NOT COOPERATING
Remsons Industries Ltd                  LT FBL – CC           ICRA BB+     200     Reaffirmed
Remsons Industries Ltd                  LT FBL – TL           ICRA BB+     15      Reaffirmed
Rnp Scaffolding & Formwork Pvt          Bk Loan               ICRA B /     300     -
Ltd                                                           ICRA A4
ISSUER NOT COOPERATING
S D Rice Mills                          FB limits             ICRA B       165     -
ISSUER NOT COOPERATING
Sarvodaya Polymers Pvt Ltd              LT FBL                ICRA B       130     -
ISSUER NOT COOPERATING
Saurashtra Calcine Bauxite And          Fund Based – CC       ICRA BB      90      Withdrawn
Allied Industries Ltd
Saurashtra Calcine Bauxite And          Fund Based – TL       ICRA BB      30.1    Withdrawn
Allied Industries Ltd
Saurashtra Calcine Bauxite And          Unallocated limits    ICRA BB /A4+ 15.3    Withdrawn
Allied Industries Ltd
Servocontrols Aerospace India           TL                    ICRA B-      64      -
Pvt Ltd
Issuer delayed in giving information
Servocontrols Aerospace India           LT – FB Fac           ICRA B-      14      -
Pvt Ltd
Issuer delayed in giving information
Servocontrols Aerospace India           LT – Interchangeable  ICRA B-      -       -
Pvt Ltd
Issuer delayed in giving information
Sri Manakula Vinayaga                   optionally            ICRA B+      80      -
Educational Trust                       convertible debenture
ISSUER NOT COOPERATING
Sri Manakula Vinayaga                   TL                    ICRA B+      1411.9  -
Educational Trust
ISSUER NOT COOPERATING
Sri Manakula Vinayaga                   LT/ ST unallocated    ICRA B+ / A4 109.3   -
Educational Trust
ISSUER NOT COOPERATING
Sri Venkata Srinivasa Raw &             BLR                   ICRA B+      150     -
Boiled Rice Mill
Issuer delayed in giving information
Sudhakara Infratech Pvt Ltd             FB Limits             ICRA BBB-    200     Reaffirmed
Sudhakara Infratech Pvt Ltd             NFBL                  ICRA BBB-    730     Reaffirmed
Sudhakara Infratech Pvt Ltd             Unallocated Limits    ICRA BBB-/A3 170     Reaffirmed
SVE Castings Pvt Ltd                    TL                    ICRA D       27.8    -
Issuer delayed in giving information
SVE Castings Pvt Ltd                    FB Fac                ICRA D       85      -
Issuer delayed in giving information
SVE Castings Pvt Ltd                    Unallocated Fac       ICRA D       53.2    -
Issuer delayed in giving information
Taneja Vidyut Control Pvt Ltd           LT Fund Based         ICRA B+      35      -
ISSUER NOT COOPERATING
Umsl Ltd                                FBL                   ICRA A-      800     Outstanding
Umsl Ltd                                LT Non-FBL            ICRA A-      700**   Outstanding
**Rs 20 crore is fully interchangeable with fund based limits
Vallabha Feeds Pvt Ltd                  FB – TL               ICRA BB-     28.6    -
ISSUER NOT COOPERATING
Vallabha Feeds Pvt Ltd                  Unallocated           ICRA BB-     84.4    -
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)

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