September 19, 2019 / 12:14 PM / in a month

ICRA ratings for Indian debt instruments-Sep 19

   Sep 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 18, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Exxaro Tiles Pvt Ltd                    ST Non-FBL            ICRA A3;     272.4   Withdrawn
Kataria Plastics Pvt Ltd                Non-fund Based LOC    ICRA A4+     65
(Reason for delay in carrying out periodic review - Issuer Not Co-operating)
Kataria Plastics Pvt Ltd                Non-fund Based LOC^   ICRA A4+     -       -
(Reason for delay in carrying out periodic review - Issuer Not Co-operating)
^Sub limit of bank guarantee interchangeable between long term and short term
Kataria Plastics Pvt Ltd                Non-fund Based BG     ICRA A4+     285     -
(Reason for delay in carrying out periodic review - Issuer Not Co-operating)
Krazybee Services Pvt Ltd               CP                    ICRA A3      500     Assigned
Mirae Asset Global Investment           Mirae Asset Cash      ICRA         -       Assigned
(India) Pvt Ltd                         Management Fund       A1+mfs;
Prateek Wires (P) Ltd                   Non-FBL – BG          ICRA A4+     30      Reaffirmed
Reliance Chemotex Industries            Standby Limit         ICRA A4+     20      Reaffirmed
Ltd
Reliance Chemotex Industries            Non-FBL               ICRA A4+     355     Reaffirmed
Ltd
Safeflex International Ltd              ST- Non Fund Based    ICRA A4+     30      -
(Rating downgraded from ICRA A3 and Continues to the ‘Issuer Not Cooperating’ category)
Satya Microcapital Ltd.                 CP                    ICRA A3      100     Outstanding
Shree Ram Lime Products Pvt Ltd         ST Non-FB – Bk        ICRA A4+     10      Withdrawn
                                        Guarantee
Shree Ram Lime Products Pvt Ltd         ST FB – Bills         ICRA A4+     50      Withdrawn
                                        Discounting     
Urvi Plastic Industries                 ST Non-FB LOC         ICRA A4      54      -
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
  
LONG TERM RATINGS:
-------------------
Andrew Yule Amp; Co. Ltd                LT FB Fac-CC          ICRA D       -       Withdrawn
(Issuer Not Cooperating)
Andrew Yule Amp; Co. Ltd                Unallocated Limits    ICRA D       -       Withdrawn
Andrew Yule Amp; Co. Ltd                ST Non FB Fac         ICRA D       -       Withdrawn
Arcelormittal India Pvt Ltd             Issuer rating         ICRA AA      -       Withdrawn
                                                              (Positive)
Arcelormittal SA                        Issuer rating         ICRA AA      -       Withdrawn
                                                              (Positive)
Asa International India                 NCD Programme         ICRA BBB     500.4   Assigned
Microfinance Ltd
Asa International India                 TL                    ICRA BBB     8000    Outstanding/
Microfinance Ltd                                                                   Assigned
Asa International India                 NCD Programme         ICRA BBB     2635    Outstanding
Microfinance Ltd
Country Club Hospitality And            Fund Based TL         ICRA D       2814.5  -
Holidays Ltd (Formerly Country
Club (India) Ltd)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Country Club Hospitality And            Unallocated Limit     ICRA D       185.5   -
Holidays Ltd (Formerly Country
Club (India) Ltd)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Exxaro Tiles Pvt Ltd                    LT FB Limits          ICRA BBB-    -       Withdrawn
                                                              (Positive)
Hindva Builders                         TL Facility           ICRA BB-     -       -
(Reason for delay in carrying out periodic review - Issuer Not Co-operating)
Hindva Builders                         CC Fac                ICRA BB-     -       -
Reason for delay in carrying out periodic review  Issuer Not Co-operating
Indo-Mim Pvt Ltd (Erstwhile             TL                    ICRA AA      4691.8  -
Indo-Us Mim Tec Pvt Ltd)
Indo-Mim Pvt Ltd (Erstwhile             CC                    ICRA AA      1179.5  -
Indo-Us Mim Tec Pvt Ltd)
Indo-Mim Pvt Ltd (Erstwhile             Unallocated limits    ICRA AA      530     -
Indo-Us Mim Tec Pvt Ltd)
Indo-Mim Pvt Ltd (Erstwhile             NCD Programme         ICRA AA      600     -
Indo-Us Mim Tec Pvt Ltd)                (Proposed)
Kataria Plastics Pvt Ltd                FB CC                 ICRA BB+     10      -
Reason for delay in carrying out periodic review  Issuer Not Co-operating
Kataria Plastics Pvt Ltd                FB CC^                ICRA BB+     -       -
^Sub limit of bank guarantee interchangeable between long term and short term. 
 Reason for delay in carrying out periodic review - Issuer Not Co-operating 
Kataria Plastics Pvt Ltd                LT/ ST Unallocated    ICRA BB+ /   20      -
                                        Limit                 ICRA A4+
(Reason for delay in carrying out periodic review - Issuer Not Co-operating)
Krazybee Services Pvt Ltd               Bk lines - unallocatedICRA BBB-    3000    Assigned
Magnasoft Consulting India Pvt          Fund based- CC        ICRA         130     downgraded
Ltd                                                           B+(Negative)         from ICRA
                                                                                   BB+(SO)
                                                                                   (Negative) 
                                                                                   and moved 
                                                                                   to the 
                                                                                   Issuer
                                                                                   Not 
                                                                                   Cooperating’
                                                                                   category
Magnasoft Consulting India Pvt          Fund based- TL        ICRA         20      downgraded
Ltd                                                           B+(Negative)         from ICRA
                                                                                   BB+(SO)
                                                                                   (Negative) 
                                                                                   and moved 
                                                                                   to the 
                                                                                   Issuer
                                                                                   Not 
                                                                                   Cooperating’
                                                                                   category
Prateek Wires (P) Ltd                   FB Limit – CC         ICRA BB      120     Reaffirmed
Qureshi International Pvt Ltd           Qureshi International ICRA BB-     99      -
                                        Bk loan ratings
                                        Private Limited
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Reliance Chemotex Industries            TL                    ICRA BB+     137.6   Reaffirmed
Ltd
outlook revised to Positive from Stable
Reliance Chemotex Industries            CC                    ICRA BB+     330     Reaffirmed
Ltd
(outlook revised to Positive from Stable)
Reliance Chemotex Industries            Unallocated Limit     ICRA BB+ /   386.6   Reaffirmed
Ltd                                                           ICRA A4+
(outlook revised to Positive from Stable)
Safeflex International Ltd              LT- Fund based TL     ICRA BB+     355     -
Rating downgraded from ICRA BBB- (Stable) and Continues to the ‘Issuer Not Cooperating’ category
Safeflex International Ltd              LT / ST - Fund Based  ICRA BB+     312.5   -
Rating downgraded from ICRA BBB- (Stable)/ICRA A3 and Continues to the ‘Issuer Not Cooperating’
category
Sambhaji Raje Cold Storage              LT, Fund based - TL   ICRA D       19.8    -
Downgraded from ICRA B- ISSUER NOT COOPERATING and continues to remain in the ‘Issuer Not
Cooperating’ category
Sambhaji Raje Cold Storage              LT, Fund based - CC   ICRA D       50      -
                                        Trust Name Trust Name
Downgraded from ICRA B- ISSUER NOT COOPERATING and continues to remain in the ‘Issuer Not
Cooperating’ category Rating Action Rating Action
Satya Microcapital Ltd.                 NCD programme         ICRA BBB-    505     Assigned
Satya Microcapital Ltd.                 Tier-II Bonds         ICRA BBB-    250     Outstanding
                                        Programme
Satya Microcapital Ltd.                 Bk Lines              ICRA BBB-    3500    Outstanding
Satya Microcapital Ltd.                 NCD programme         ICRA BBB-    1425    Outstanding
Satya Microcapital Ltd.                 Sub-debt              ICRA BBB-    200     Outstanding
Satya Microcapital Ltd.                 LT- Market Linked     PP-MLD ICRA  150     Outstanding
                                        Debenture             BBB-
Shree Ram Lime Products Pvt Ltd         LT FB – TL            ICRA BB+     44      Withdrawn
Shree Ram Lime Products Pvt Ltd         Unallocated limits    ICRA BB+     36      Withdrawn
Shree Ram Lime Products Pvt Ltd         LT FB – CC            ICRA BB+     60      Withdrawn
Spandana Sphoorty Financial             PTC Series A          Provisional  2031.4  Assigned
Ltd -Pragathi 09 2019                                         ICRA A(SO)
Urvi Plastic Industries                 LT FB CC              ICRA B       -       -
                                        (Interchangeable
                                        Sublimit of LC)
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
Urvi Plastic Industries                 LT / ST Unallocated   ICRA B/      46      -
                                                              ICRA A4
(Reason for delay in carrying out periodic review: Issuer delayed in giving information)
--------------------------------------------------------------------------------------------
$: 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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