September 15, 2017 / 10:47 AM / 8 days ago

ICRA ratings for Indian debt instruments-Sep 15

    Sep 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 14, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adarsh Rice Mill                        Non- FB – BG          ICRA A4      10      -
Issuer not co-operating
Adarsh Rice Mill                        Non- FB – LOC         ICRA A4      15.6    -
Issuer not co-operating
Avantor Performance Materials           Non-FB Fac            ICRA A4      200     Downgraded
India Ltd                                                                          from ICRA A4+
Bommidala Enterprises Pvt Ltd           ST – FB Fac           ICRA A2+     250     Outstanding
Bommidala Enterprises Pvt Ltd           ST – FB Fac (sublimit)ICRA A2+     -       Outstanding
Bommidala Enterprises Pvt Ltd           ST – Non FB Fac       ICRA A2+     340.6   Outstanding
Bommidala Enterprises Pvt Ltd           ST – Non FB Fac       ICRA A2+     -       Outstanding
                                        (sub-limit)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     60000   Outstanding
                                        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-MLD ICRA  9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Ester Industries Ltd                    ST-FBL                ICRA A3      900     Reaffirmed
Ester Industries Ltd                    ST-NFBL               ICRA A3      1260    Reaffirmed
Guarniflon India Pvt. Ltd.              ST – FB – Pre         ICRA A4+     52.7    Reaffirmed
                                        Shipment Export
                                        Credit^
^Sub-limits – Fund-based – Post Shipment Credit of Rs. 5.27 crore and Overdraft of Rs. 5.27
crore, which are fully interchangeable and non-fund based Bank Guarantee of Rs. 1.25 crore
Gulf Oil Lubricants India Ltd           Non-fund based –      ICRA A1+     3150    Reaffirmed
                                        LOC/BG
Hasimara Industries Ltd                 BG                    ICRA A4+     15      Reaffirmed
Himalaya Communications Ltd             ST FB Limits          ICRA A4      215     -
Issuer not co-operating
J.M. Financial & Investment             CP programme (IPO     ICRA A1+     8000    Withdrawn
Consultancy Services Pvt Ltd            Financing)
J.M. Financial & Investment             CP programme          ICRA A1+     2000    Outstanding
Consultancy Services Pvt Ltd
Perfect Aluminium Alloys                ST non-fund based     ICRA A4      -       -
                                        (sub-limits)
Issuer not co-operating
Premier Tobacco Packers Pvt Ltd         ST – FB Fac           ICRA A2+     600     Outstanding
Premier Tobacco Packers Pvt Ltd         ST – Non FB Fac       ICRA A2+     500     Outstanding
Shriram Food Industry Pvt Ltd           ST non-fund based     ICRA A4      -       -
                                        (sublimit)
Issuer delayed in giving information
Supreme Power Equipments Pvt            ST: LOC               ICRA A4      5       Reaffirmed
Ltd
Supreme Power Equipments Pvt            ST: BG                ICRA A4      50      Reaffirmed
Ltd
Swati Chlorides Pvt Ltd                 BG                    ICRA A4      1.5     Reaffirmed
Swati Chlorides Pvt Ltd                 Packing Credit        ICRA A4      -       Reaffirmed
                                        (sublimit of CC)
Swift Ceramic Pvt Ltd                   Non FB LimitsBG       ICRA A4      7.5     -
Issuer not co-operating
Trw Sun Steering Wheels Pvt Ltd         ST - Non Fund Based   ICRA A2+     10      Reaffirmed


LONG TERM RATINGS:
-------------------
Adams Marketing Pvt Ltd                 FB-limit- Cashcredit  ICRA D       245     -
                                        facility
Issuer not co-operating
Adams Marketing Pvt Ltd                 FB-limit-TL           ICRA D       8.3     -
Issuer not co-operating
Adarsh Rice Mill                        FB – TL               ICRA BB-     13.825  -
Issuer not co-operating
Adarsh Rice Mill                        FB – CC               ICRA BB-     50      -
Issuer not co-operating
Adarsh Rice Mill                        Unallocated limits    ICRA BB- /   0.575   -
                                                              A4
Issuer not co-operating
Ajay Engicone Pvt Ltd                   Bk Fac                ICRA D       100     -
Issuer not co-operating
Auto Hi-Tech Pvt Ltd                    FB Limits             ICRA BB+     195     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Avanthi Warehousing Services            FB CC                 ICRA BBB     70      Assigned
Pvt Ltd
Avanthi Warehousing Services            Unallocated Limits    ICRA BBB     10      Assigned
Pvt Ltd
Avanthi Warehousing Services            Non-FBL               ICRA BBB /   70      Assigned
Pvt Ltd                                                       A3+
Avantor Performance Materials           FB Fac                ICRA BB      150     Downgraded
India Ltd                                                                          from ICRA BB+
Balaji Industrial And                   BLR                   ICRA B/A4    210     -
Agricultural Castings Pvt Ltd
Issuer not co-operating
Bommidala Enterprises Pvt Ltd           LT – TL               ICRA A-      96.4    Assigned
Bommidala Enterprises Pvt Ltd           LT – FB Fac (sublimit)ICRA A-      -       Outstanding
Bommidala Enterprises Pvt Ltd           LT – Proposed/        ICRA A-      3.6     Assigned
                                        unallocated
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
                                                              A1+
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   10000   Assigned
                                        Protected Market      AA
                                        Linked Debenture Programme
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   13500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Ester Industries Ltd                    TL                    ICRA BBB-    950     Reaffirmed
Ester Industries Ltd                    LT-FBL                ICRA BBB-    600     Reaffirmed
Guarniflon India Pvt. Ltd.              LT – FB – TL          ICRA BB+     37.5    Reaffirmed
Guarniflon India Pvt. Ltd.              LT– Unallocated       ICRA BB+     12.1    Reaffirmed
Gulf Oil Lubricants India Ltd           FB – CC               ICRA AA      770     Upgraded
                                                                                   from ICRA AA-
Hasimara Industries Ltd                 TL                    ICRA BB      51.7    Reaffirmed
Hasimara Industries Ltd                 CC                    ICRA BB      75      Reaffirmed
Himalaya Communications Ltd             LT FB Limits          ICRA BB      69.2    -
Issuer not co-operating
Jassmine Enterprises                    FB Limits             ICRA BB-/A4  160     Reaffirmed
K.Prasad Babu                           BLR                   ICRA B       80      -
Issuer not co-operating
K.T.C Foods Pvt Ltd                     FB Limits             ICRA BB+     1210.1  Revised from
                                                                                   ICRA BB
K.T.C Foods Pvt Ltd                     Unallocated (Proposed ICRA BB+     9.9     Revised from
                                        limits)                                    ICRA BB
Karelides Traders Pvt Ltd               NCD                   ICRA AA-     1930    Assigned
Karelides Traders Pvt Ltd               NCD                   ICRA AA-     2050    Assigned
Karelides Traders Pvt Ltd               NCD                   ICRA AA-     5000    Assigned
Klystron Electronics Pvt Ltd            FB- CC                ICRA BB      15      Reaffirmed
Klystron Electronics Pvt Ltd            Non-fund based –BG    ICRA BB /    65      Reaffirmed
                                                              A4
Klystron Electronics Pvt Ltd            Unallocated           ICRA BB /    20      Reaffirmed
                                                              A4
Krishna Institute Of Medical            LT FB Limits          ICRA A-      2838.1  Assigned /
Sciences Ltd                                                                       Outstanding
Krishna Institute Of Medical            LT/ST NonFBL          ICRA A-      36      Assigned
Sciences Ltd
Krishna Institute Of Medical            LT/ST Unallocated     ICRA A-      425.9   Assigned
Sciences Ltd                            Limits
M.M Ispat Pvt Ltd                       FB-limitcash- credit  ICRA D       60      -
                                        facility
Issuer not co-operating
M.M Ispat Pvt Ltd                       Unallocated Limits    ICRA D       40      -
Issuer not co-operating
Mad Studios Pvt Ltd                     BLR                   ICRA D       175     -
Issuer not co-operating
Mahashakti Polycoat                     BLR                   ICRA B/A4    60      -
Issuer not co-operating
Malankara Plantations Ltd               CC                    ICRA B+      155     -
Issuer delayed in giving information
Mechemco Resins Pvt Ltd                 Bk Loans              ICRA BB+ /   192.5   -
                                                              ICRA A 4+
Issuer not co-operating
Narendra Tea Company Pvt Ltd            LT-FBL                ICRA BB-     140     Reaffirmed
Narendra Tea Company Pvt Ltd            LT- NFBL              ICRA BB-     7       Reaffirmed
Narendra Tea Company Pvt Ltd            TL                    ICRA BB-     72      Reaffirmed
Narendra Tea Company Pvt Ltd            LT- Unallocated       ICRA BB-     38.5    Reaffirmed
Narula Tools International              LT fund based         ICRA B       60      -
Issuer not co-operating
Nivvasa Properties                      TL                    ICRA B+      100     Withdrawn
Perfect Aluminium Alloys                CC                    ICRA B+      100     -
Issuer not co-operating
Premier Tobacco Packers Pvt Ltd         LT – TL               ICRA A-      97.5    Assigned
Premier Tobacco Packers Pvt Ltd         LT – FB Fac (sublimit)ICRA A-      -       Outstanding
Premier Tobacco Packers Pvt Ltd         LT – Proposed/        ICRA A-      2.5     Assigned
                                        unallocated
R. P. Motors                            Bk Fac                ICRA B       59.6    -
Issuer not co-operating
R.K. Agro Industries                    FB CC                 ICRA B       30      Reaffirmed
R.K. Agro Industries                    FB TL                 ICRA B       28.9    Reaffirmed
R.K. Agro Industries                    Unallocated Limit     ICRA B/A4    2.9     Reaffirmed
Sesha Sai Cotton Company                BLR                   ICRA B       120     -
Issuer not co-operating
Shriram Food Industry Pvt Ltd           CC                    ICRA B+      270     -
Issuer delayed in giving information
Shriram Food Industry Pvt Ltd           TL                    ICRA B+      285     -
Issuer delayed in giving information
Supreme Power Equipments Pvt            LT: CC facility       ICRA B+      37      Reaffirmed
Ltd
Swati Chlorides Pvt Ltd                 TL                    ICRA B+      29.5    Revised from
                                                                                   ICRA BB-
Swati Chlorides Pvt Ltd                 CC                    ICRA B+      40      Revised from
                                                                                   ICRA BB-
Swift Ceramic Pvt Ltd                   FB Limits-CC          ICRA B+      35      -
Issuer not co-operating
Swift Ceramic Pvt Ltd                   FB Limits-TL          ICRA B+      19.5    -
Issuer not co-operating
Trw Sun Steering Wheels Pvt Ltd         LT Fund Based         ICRA A-      29      Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Trw Sun Steering Wheels Pvt Ltd         LT/STUnallocated      ICRA A-/A2+  40.1    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Unitech Mercantile Pvt Ltd              FB – TL               ICRA B-      120     -
Issuer not co-operating
United Composheets Pvt Ltd              LT FB – Overdraft     ICRA B       30      Reaffirmed
United Composheets Pvt Ltd              LT FB – TL            ICRA B       30      Reaffirmed
Western Construction Co.                TL                    ICRA B+      1400    -
(Gujarat) Llp
Issuer not co-operating
Yedeshwari Agro Products Ltd            FB – TL               ICRA B-      555.5   Revised from
                                                                                   ICRA B+
Yedeshwari Agro Products Ltd            Unallocated           ICRA B-      74.5    Revised from
                                                                                   ICRA B+

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