September 18, 2019 / 11:22 AM / 2 months ago

ICRA ratings for Indian debt instruments-Sep 18

    Sep 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 17, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Banswara Syntex Ltd                     LOC/BG                ICRA A3+     780     Reaffirmed
Dki Apparel Pvt Ltd                     Interchangeable- LOC^ ICRA A4+     -       Reaffirmed
^ sublimit of cash credit
Dlf Cyber City Developers Ltd           ST Fund based         ICRA A1+     5000    Outstanding
Dlf Cyber City Developers Ltd           ST Non-fund based     ICRA A1+     2000    Outstanding
Dlf Cyber City Developers Ltd           CP                    ICRA A1+     10000   Outstanding
Dream Home Carpets Pvt Ltd              FB - Foreign Bill     ICRA A4      100     Reaffirmed
                                        Purchase
Innovassynth Technologies (I)           ST: Non-FBL           ICRA A3+     150     Upgraded
Ltd                                                                                from ICRA A3
Innovassynth Technologies (I)           ST: Non-FBL^          ICRA A3+     -       Upgraded
Ltd                                                                                from ICRA A3
^ sub-limit under cash credit facility 
Jamna Auto Industries Ltd               CP (CP)#              ICRA A1+     2700    outstanding
# Carved out of existing working-capital limits
Neeru Menthol Pvt Ltd                   Non-fund Based        ICRA A3      279.4   upgraded
                                                                                   from ICRA A4+
Precon Technology And Castings          Non-FBL               ICRA A4      25
Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Ridley Life-Science Pvt Ltd             Non-fund based: ST    ICRA A4+     20
Reason for delay in carrying out periodic review:- Issuer not cooperating

MEDIUM TERM RATINGS:
-------------------
Banswara Syntex Ltd                     Fixed deposit         MA- (Stable) 300     Assigned
 
LONG TERM RATINGS:
-------------------
A.J. Mehta & Co. Llp                    LT FB                 ICRA BB      160     Reaffirmed
                                                              (Stable)
Removed from ‘Issuer Not Cooperating’ category
A.J. Mehta & Co. Llp                    LT/ST Unallocated     ICRA BB      10      Reaffirmed
                                                              (Stable)
                                                              /ICRA A4+
Removed from ‘Issuer Not Cooperating’ category
Amrut Gems                              LT/ST - Fund Based    ICRA BB+     400     Reaffirmed
                                                              (Stable) /
                                                              ICRA A4+
Amrut Gems                              LT/ST - Unallocated   ICRA BB+     42.4    Reaffirmed
                                                              (Stable)/
                                                              ICRA A4+
Banswara Syntex Ltd                     Domestic/Export       ICRA BBB     4150    Reaffirmed
                                        Credit Facility       (Stable)
Banswara Syntex Ltd                     TL                    ICRA BBB     1770    Reaffirmed
                                                              (Stable)
Dki Apparel Pvt Ltd                     CC                    ICRA BB+     60      Reaffirmed
                                                              (Stable)
Dlf Cyber City Developers Ltd           LT Fund based         ICRA AA-     65610   Outstanding
                                                              (Stable)
Dlf Cyber City Developers Ltd           NCDs                  ICRA AA-     4000    Assigned
                                                              (Stable)
Dream Home Carpets Pvt Ltd              FB - Packing Credit   ICRA         130     Reaffirmed
                                                              B+(Stable)
Gujarat Cotton Corporation              Export Packing Credit ICRA         250     Withdrawn
                                                              BB-(Stable)
Issuer Not Cooperating
Innovassynth Technologies (I)           LT: Fund based – CC   ICRA BBB     150     Upgraded
Ltd                                                           (Stable)             from ICRA
                                                                                   BBB-(Stable)
Innovassynth Technologies (I)           LT: Fund based – TL   ICRA BBB     80      Upgraded
Ltd                                                           (Stable)             from ICRA
                                                                                   BBB-(Stable)
Interglobe Hotels Pvt Ltd               LT FB TL              ICRA         7871    downgraded
                                                              A-(Stable)           from ICRA A
outlook revised to Stable from Negative
Interglobe Hotels Pvt Ltd               LT Unallocated        ICRA         239     downgraded
                                                              A-(Stable)           from ICRA A
outlook revised to Stable from Negative
Isha Steel Treatment Pvt Ltd            LT FB TL              ICRA A-      1200    downgraded
                                                                                   from ICRA A
outlook revised to Stable from Negative
Jamna Auto Industries Ltd               TL                    -            -       outstanding
Jamna Auto Industries Ltd               LT: Fund              ICRA AA-     1300    outstanding
                                        based/Non-fund Based  (Stable)
Jamna Auto Industries Ltd               LT/ST: Fund           ICRA AA-     3900    outstanding
                                        based/Non-fund Based  (Stable)/
                                                              ICRA A1+
Jamna Auto Industries Ltd               LT/ST: Unallocated    ICRA AA-     100     outstanding
                                                              (Stable)/
                                                              ICRA A1+
Magma Fincorp Ltd-Mfl                   Second Loss Facility  ICRA A(SO)   -       Withdrawn
Securitisation Trust L
Magma Fincorp Ltd-Mfl                   Liquidity Facility    ICRA AAA(SO) -       Withdrawn
Securitisation Trust L
Magma Fincorp Ltd-Mfl                   PTC Series A1         ICRA         -       Withdrawn
Securitisation Trust L                                        AAA(SO)
Magma Fincorp Ltd-Mfl                   PTC Series A2         ICRA         -       Withdrawn
Securitisation Trust L                                        AAA(SO)
Mahesh Lumber Pvt Ltd                   FB Limits             ICRA D       100
Rating continues to remain under ‘Issuer Not Cooperating’ category
Mahesh Lumber Pvt Ltd                   Non-FBL               ICRA D       200
Rating continues to remain under ‘Issuer Not Cooperating’ category -
Metro Hospital And Cancer               FB Limits             ICRA BB+     30
Research Centre
Rating continues to remain under ‘Issuer Not Cooperating’ category
Metro Hospital And Cancer               FB Limits             ICRA         30
Research Centre                                               BB+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Mini Construction                       CC                    ICRA BB+     10      Reaffirmed
                                                              (Stable)
Mini Construction                       BG                    ICRA BB+     110     Reaffirmed
                                                              (Stable)
                                                              /ICRA A4+
Neeru Menthol Pvt Ltd                   Fund Based            ICRA BBB-    562.8   Upgraded
                                                                                   from ICRA
                                                                                   BB+ (Stable)
Neeru Menthol Pvt Ltd                   Issuer Rating         ICRA BBB-    -
                                                              (Stable)
upgraded from ICRA BB+ (Stable), put on notice of withdrawal
Neeru Menthol Pvt Ltd                   Unallocated           ICRA BBB-    7.8     Upgraded
                                                              (Stable)/A3          from ICRA
                                                                                   BB+ (Stable)/
                                                                                   A4+
Precon Technology And Castings          FB Limits             ICRA         80
Ltd                                                           BB-(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Ridley Life-Science Pvt Ltd             Fund based - CC – LT  ICRA BB      55
                                                              (Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Sant Foods Pvt Ltd                      FBL                   ICRA         150
                                                              B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shakti Murugan Industries               Fund Based            ICRA BB-     150     Assigned
                                                              (Stable)
Shakti Murugan Industries               Unallocated           ICRA BB-     30      Assigned
                                                              (Stable)
Uma Medicare Ltd                        Fund based-TL         ICRA         45      downgraded
                                                              BB(Stable)           from ICRA
                                                                                   BBB(Stable)
Continues to the ‘Issuer Not Cooperating’ category
Uma Medicare Ltd                        Fund based-CC         ICRA         100     Downgraded
                                                              BB(Stable)           from ICRA
                                                                                   BBB(Stable)
Continues to the ‘Issuer Not Cooperating’ category
Uma Medicare Ltd                        Non-FBL               ICRA         5       Downgraded
                                                              BB(Stable)           from ICRA
                                                                                   BBB(Stable)
Continues to the ‘Issuer Not Cooperating’ category
Vanya Designer                          CC                    ICRA B       75      Withdrawn
                                                              (Stable)
Vistaar Financial Services Pvt          PTC Series A2         Provisional  34.2    Confirmed as
Ltd-Northern Arc 2019 Sbl                                     ICRA A+(SO)          final
Orpheum
Vistaar Financial Services Pvt          PTC Series A1         Provisional  455.6   Confirmed as
Ltd-Northern Arc 2019 Sbl                                     ICRA AA(SO)          final
Orpheum
Woodpecker Distilleries &               Fund Based - Working  ICRA BBB+    250     Assigned
Breweries Pvt Ltd                       Capital               (Stable)
Woodpecker Distilleries &               Fund Based - TL       ICRA BBB+    250     Assigned
Breweries Pvt Ltd                                             (Stable)
Woodpecker Distilleries &               Unallocated           ICRA BBB+    150     Assigned
Breweries Pvt Ltd                                             (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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