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ICRA ratings for Indian debt instruments-Sep 14
September 14, 2017 / 10:35 AM / 3 months ago

ICRA ratings for Indian debt instruments-Sep 14

    Sep 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 13, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhagabati Build & Construction          Non-fund based – BG   ICRA A4      30      -
Pvt Ltd
(ISSUER NOT COOPERATING)
Cr Retail Malls (India) Ltd             CP programme (IPO     ICRA A1+     5000    Withdrawn
                                        Financing)
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Facilities Services Ltd            ST debt programme     ICRA A1+     7000    Reaffirmed
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP                    ICRA A1+     50000   Outstanding
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
Iifl Wealth Management Ltd              ST Debt programme     ICRA A1+     5000    Outstanding
India Infoline Finance Ltd              IPO financing         ICRA A1+     120000  Assigned
                                        programme
India Infoline Finance Ltd              ST debt programme     ICRA A1+     70000   Outstanding
Indiabulls Housing Finance Ltd          CP Programme          ICRA A1+     180000  Assigned
(enhanced from 15,000 CR)
Iqbal Construction Company              Non-fund Based – BG   ICRA A4+     170     Assigned
Lagnam Spintex Pvt Ltd                  Non-fund based – BG   ICRA A3      15.3    Outstanding
Lagnam Spintex Pvt Ltd                  FB – Standby Line of  ICRA A3      10      Assigned
                                        Credit
R.K. Dhabhai Minerals And               ST: NFBL              ICRA D       22.1    -
Chemicals Pvt Ltd
(ISSUER NOT COOPERATING)
Rocky Dhar                              Non-FBL               ICRA A4      100     -
(ISSUER NOT COOPERATING)
Sarup Industries Ltd                    Non FB Limits         ICRA A4      36.2    Withdrawn
Tata Capital Housing Finance            CP Programme          ICRA A1+     50000   Assigned
Ltd
The Central Arecanut And Cocoa          Non-fund Based        ICRA A2+     47.5    Reaffirmed
Marketing And Processing                Working Capital Limit
Cooperative Ltd

LONG TERM RATINGS:
-------------------
Banashankari Poultry Farmspvt           LT –Fund basedFac     ICRA B       27      -
Ltd
Bhagabati Build & Construction          FB – CC               ICRA B       60      -
Pvt Ltd
(ISSUER NOT COOPERATING)
Bhagabati Build & Construction          FB-Stand by Line of   ICRA B       13.5    -
Pvt Ltd                                 Credit
(ISSUER NOT COOPERATING)
Cholamandalam Investment And            Second Loss Facility  ICRA A(SO)   136.9   confirmed as
Finance Co. Ltd                                                                    final
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) 3706.9  confirmed as
Finance Co. Ltd                                                                    final
Cr Retail Malls (India) Ltd             TL                    ICRA A       790     Outstanding
Cr Retail Malls (India) Ltd             Unallocated Limits    ICRA A       10      Outstanding
Gripwell Forging And Tools              LT FB Limits –CC      ICRA B+      70      Reaffirmed
Hutch India Pvt Ltd                     LT FB Limit           ICRA B+      117.5   Reaffirmed
Hutch India Pvt Ltd                     Long-TL               ICRA B+      29.3    Reaffirmed
(reduced from 3.80 CR)
Hutch India Pvt Ltd                     LT Unallocated Limits ICRA B+      8.7     Reaffirmed
Iifl Facilities Services Ltd            Unsecured debt        ICRA AA      500     Reaffirmed
                                        programme
Iifl Facilities Services Ltd            LT debt programme     ICRA AA      7000    Reaffirmed
Iifl Wealth Finance Ltd                 NCD                   ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 PP-MLD programme      PPPP-        2000    Outstanding
                                                              MLDICRA AA
Iifl Wealth Finance Ltd                 PP-MLD programme      PPPP-        25500   Outstanding
                                                              MLDICRA AA
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      10000   Outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Indiabulls Housing Finance Ltd          Subordinated Debt     ICRA AAA     50000   Outstanding
                                        Programme
Indiabulls Housing Finance Ltd          NCD Programme         ICRA AAA     452000  Outstanding
Indiabulls Housing Finance Ltd          LT Bk Fac             ICRA AAA     470000  Outstanding
Indiabulls Housing Finance Ltd          LT Bk Fac             ICRA AAA     30000   Withdrawn
Iqbal Construction Company              FB – Overdraft        ICRA BB+     30      Assigned
Kasturi Commodities Pvt Ltd             BL                    ICRA BB      750     -
                                                              /ICRA A4+
(ISSUER NOT COOPERATING)
Khodal Cotton Processing Pvt            TL                    ICRA B+      1.4     Reaffirmed
Ltd
Khodal Cotton Processing Pvt            CC                    ICRA B+      90      Reaffirmed
Ltd
L&T-Sargent & Lundy Ltd                 CC*                   ICRA AA /    50      Reaffirmed
                                                              ICRA A1+
* sublimit to the extent of Rs 0.50 Cr for EPC and Rs. 0.50 Cr. PCFC, and hence also rated on a
shortterm scale, as such total utilisation should not exceed Rs.5.0 Cr at any point of usage #
Includes sublimit of Rs. 3.00 Cr for letter of credit rated on a short-term scale, also the BGs
are rated on both the scale and will attract the rating as per the tenure of usage. At any point
of usage the limits should not exceed Rs. 20.0 Cr.
L&T-Sargent & Lundy Ltd                 BG#                   ICRA AA /    20      Reaffirmed
                                                              ICRA A1+
Lagnam Spintex Pvt Ltd                  FB – CC               ICRA BBB-    200     Assigned /
                                                                                   Outstanding
(enhanced from Rs. 10.00 crore)
Lagnam Spintex Pvt Ltd                  FB – CC               ICRA BBB-    350.6   Assigned /
                                                                                   Outstanding
(enhanced from Rs. 0.97 crore)
Mangalore Sea Products                  LT - TL               ICRA B+      25      Reaffirmed
Mangalore Sea Products                  LT - FB Fac           ICRA B+      50      Reaffirmed
Patel Wood Syndicate                    FBL- Packing Credit   ICRA D       90      Revised from
                                                                                   ICRA A4
(ISSUER NOT COOPERATING)
R.K. Dhabhai Minerals And               LT: FBL               ICRA D       44.1    -
Chemicals Pvt Ltd
(ISSUER NOT COOPERATING)
Rocky Dhar                              FB Limits             ICRA B       150     -
(ISSUER NOT COOPERATING)
Sarup Industries Ltd                    FB Limits             ICRA BB-     158.2   Withdrawn
Sarup Industries Ltd                    Unallocated Limits    ICRA BB- /   25.6    Withdrawn
                                                              CARE A4
Silk Woven Sack Pvt Ltd                 CCL                   ICRA B-      15      Assigned
Silk Woven Sack Pvt Ltd                 TL                    ICRA B-      50      Assigned
Smile Microfinance Ltd                  PTC Series A1         ICRA A- (SO) 321.1   Withdrawn
Smile Microfinance Ltd                  PTC Series A2         ICRA BBB     14.9    Withdrawn
                                                              (SO)
System Control & Automation             FBL                   ICRA B+      40      -
Pvt Ltd
(ISSUER NOT COOPERATING)
System Control & Automation             NFBL                  ICRA B+      20      -
Pvt Ltd                                                       /ICRA A4
(ISSUER NOT COOPERATING)
Tata Capital Housing Finance            NCDs Programme        ICRA AA+     24000   Outstanding
Ltd
Tata Capital Housing Finance            Subordinated Debt     ICRA AA+     11000   Outstanding
Ltd                                     Programme
The Central Arecanut And Cocoa          FB Working Capital    ICRA A-      3000    Reaffirmed
Marketing And Processing                Limit
Cooperative Ltd
(enhanced from 200.00 cr)
Thermax Engineering                     FB – CC               ICRA AA      70      Reaffirmed
Construction Co. Ltd
Thermax Engineering                     Non-fund based – BGs  ICRA AA      900     Reaffirmed
Construction Co. Ltd                                          +(SO)
Vijay Engineering Equipment             BLR                   ICRA B       175     -
India 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)

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