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ICRA ratings for Indian debt instruments-Sep 20
September 20, 2017 / 10:50 AM / a month ago

ICRA ratings for Indian debt instruments-Sep 20

    Sep 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 19, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Alok Glass Works                        NFBL                  ICRA A4      15.8    -
(Issuer not Cooperating)
Aplapollo Tubes Ltd                     Non-FBL               ICRA A1+     1300    Reaffirmed
Aplapollo Tubes Ltd                     CP                    ICRA A1+(SO) 2000    Reaffirmed
Apollo Metalex Pvt Ltd                  NFBL                  ICRA A1+(SO) 200     Reaffirmed
Bullock Cart Workers                    MFI Grading           M3           -       Assigned
Development Association
Bwda Finance Ltd                        MFI Grading           M3           -       Assigned
Dnp Foodsltd                            BLR                   ICRA A4      160     -
(Issuer not Cooperating)
Hical Technologies Pvt Ltd              ST – Non Fund Based   ICRA A3      86      -
(Issuer not Cooperating)
Kopell Grounding Systems Pvt            FB Limits             ICRA A4      85      Reaffirmed
Ltd
Kopell Grounding Systems Pvt            Non-FBL               ICRA A4      2.5     Reaffirmed
Ltd
Lumax Industries Ltd                    ST fund based         ICRA A+ /    200     -
                                                              ICRA A1+
Lumax Industries Ltd                    ST nonfund based      ICRA A+ /    1000    -
                                                              ICRA A1+
L&T Finance Ltd                         CP Programme (IPO     ICRA A1+     90000   Assigned
                                        financing)
L&T Housing Finance Ltd                 CP programme (IPO     ICRA A1+     10000   ASsigned
                                        financing)
L&T Housing Finance Ltd                 CP programme (IPO     ICRA A1+     10000   Outstanding
                                        financing)
L&T Infrastructure Finance Co.          CP programme (IPO     ICRA A1+     50000   Assigned
Ltd                                     financing)
L&T Infrastructure Finance Co.          CP Programme          ICRA A1+     5000    Outstanding
Ltd
Lloyds Line Pipes Ltd                   CP                    ICRA A1+     800     Reaffirmed
Lloyds Line Pipes Ltd                   Non-FBL               ICRA A1+(SO) 400     Reaffirmed
Mspl Ltd                                Non-fund based        ICRA A3      400     Reaffirmed
Ramgad Minerals And Mining Ltd          Non-fund based        ICRA A3      15      Reaffirmed
Shri Lakshmi Metal Udyog Ltd            NFBL                  ICRA A1+     130     Reaffirmed
The Indian Electric Company             ST: Fund based – Bill ICRA A4+     15      Reaffirmed
                                        Discounting
Lok Enterprises                         Non-FBLLOC            ICRA D       100     Revised from
                                                                                   ICRA A4
(Issuer not Cooperating)
The Indian Electric Company             ST: Non-fund based –  ICRA A4+     10      Reaffirmed
                                        LOC/BG
Vento Ceramic                           Non-FB –BG            ICRA A4      15.5    Withdrawn

MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd                 Medium-Term Fixed     ICRA MAA+    1000    Outstanding
                                        Deposits


LONG TERM RATINGS:
-------------------
Adarsha Auto World Pvt Ltd              FB CC                 ICRA BB-     200     Assigned
Agarwal Polysacks Ltd                   FB Limits             ICRA D       125     Withdrawn
Agarwal Polysacks Ltd                   Non FB Limits         ICRA D       16      Withdrawn
Ahmedabad Maliya Tollway Ltd            NCD                   ICRA AA(SO)  1750    confirmed as
                                                                                   final
Alok Glass Works                        FBL                   ICRA B+      74.2    -
(Issuer not Cooperating)
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA A (SO)  264.3   Withdrawn
Aplapollo Tubes Ltd                     TL                    ICRA AA-     1210    Upgraded
                                                                                   from ICRA A+
                                                                                   (Stable
Aplapollo Tubes Ltd                     NCD                   ICRA AA-     1250    Upgraded
                                                                                   from ICRA A+
                                                                                   / ICRA A1+
Aplapollo Tubes Ltd                     CCL                   ICRA AA- /   4450    Upgraded
                                                              ICRA A1+             from ICRA A+
                                                                                   /ICRA A1+
Aplapollo Tubes Ltd                     Unallocated Limits    ICRA AA- /   650     Upgraded
                                                              ICRA A1+             from ICRA A+
                                                                                   /ICRA A1+
Apollo Metalex Pvt Ltd                  CCL                   ICRA AA-(SO) 800     Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Apollo Metalex Pvt Ltd                  TL                    ICRA AA-(SO) 55.5    Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Asb Projects Pvt Ltd                    FBL                   ICRA B+      125     -
(Issuer not Cooperating)
Asb Projects Pvt Ltd                    Unallocated           ICRA B+      25      -
(Issuer not Cooperating)
Bhopal Dhule Transmission Co.           NCDs (NCDs)           ICRA AAA     7350    Assigned
Ltd
Gupta Marriage Halls Pvt Ltd            FBL- CC               ICRA D       45      Downgraded
                                                                                   from ICRA B
(Issuer not Cooperating)
Gupta Marriage Halls Pvt Ltd            FBL- TL               ICRA D       135     Downgraded
                                                                                   from ICRA B
(Issuer not Cooperating)
Hical Technologies Pvt Ltd              LT – Fund Based       ICRA BBB-    113.5   -
(Issuer not Cooperating)
Hical Technologies Pvt Ltd              LT/ST – Unallocated   ICRA BBB- /  10.5    -
                                                              ICRA A3
(Issuer not Cooperating)
Ifmr Capital Finance Pvt                NCD                   ICRA A(SO)           Withdrawn
Ltd
Annapurna Microfinance
Pvt. Ltd.
Ifmr Capital Finance Pvt Ltd.           NCD                   ICRA A(SO)           Withdrawn

Fino Finance Pvt. Ltd.
(Erstwhile Intrepid Finance And Leasing Pvt. Ltd.)
 Ifmr Capital Finance Pvt Ltd.          NCD                   ICRA A(SO)           Withdrawn
Light Microfinance Pvt. Ltd 
Ifmr Capital Finance Pvt Ltd.           NCD                   ICRA A(SO)           Withdrawn
Mpower Micro Finance Pvt. Ltd
Ifmr Capital Finance Pvt Ltd.           NCD                   ICRA A(SO)           Withdrawn
Saija Finance Pvt. Ltd.
Ifmr Capital Finance Pvt                NCD                   ICRA A(SO)           Withdrawn
Ltd.
Ifmr Capital Finance Pvt                NCD                   ICRA A(SO)           Withdrawn
Ltd.
Sv Creditline Pvt. Ltd.
Indian School Finance Company           NCDs                  ICRA BBB-    260     Assigned
Pvt Ltd
Indian School Finance Company           NCDs                  ICRA BBB-    700     Outstanding
Pvt Ltd
Indian School Finance Company           NCDs                  ICRA BBB-    780     Outstanding
Pvt Ltd
Indian School Finance Company           LT Bk Lines           ICRA BBB-    400     Outstanding
Pvt Ltd
J.B. Cotton                             FB CC                 ICRA B+      40      Withdrawn
J.B. Cotton                             FB TL                 ICRA B+      11.7    Withdrawn
J.B. Cotton                             Unallocated Limits    ICRA B+      2.4     Withdrawn
Janardan Wind Energy Pvt Ltd            TL                    ICRA BBB     960     Reaffirmed
Krushna Godavari Khate,                 LT, FBL – CC          ICRA BB-     70      -
Bi-Biyane Utpadan Va Vikri Sahakari Sanstha Ltd
(Issuer not Cooperating)
L&T Finance Ltd                         Perpetual Debt        ICRA AA      6000    Outstanding
                                        Programme
L&T Finance Ltd                         NCD Programme         ICRA AA+     65190   Outstanding
L&T Finance Ltd                         NCD Programme (Public ICRA AA+     6817    Outstanding
                                        Issuance)
L&T Finance Ltd                         Subordinated Debt     ICRA AA+     13250   Outstanding
                                        Programme
L&T Housing Finance Ltd                 Perpetual Debt        ICRA AA      1000    Outstanding
                                        Programme
L&T Housing Finance Ltd                 NCD Programme         ICRA AA+     52500   Outstanding
L&T Housing Finance Ltd                 Subordinated Debt     ICRA AA+     3000    Outstanding
                                        Programme
L&T Housing Finance Ltd                 Bk Lines              ICRA AA+     29000   Outstanding
                                                              /ICRA A1+
L&T Infrastructure Finance Co.          Perpetual Debt        ICRA AA      4000    Outstanding
Ltd                                     Programme
L&T Infrastructure Finance Co.          NCD (Infra Bonds)     ICRA AA+     16650.3 Outstanding
Ltd                                     Programme
L&T Infrastructure Finance Co.          NCD Programme         ICRA AA+     60340   Outstanding
Ltd
L&T Infrastructure Finance Co.          Subordinated Debt     ICRA AA+     17000   Outstanding
Ltd                                     Programme
L&T Infrastructure Finance Co.          Bk Lines              ICRA AA+     70000   Outstanding
Ltd                                                           /ICRA A1+
Lloyds Line Pipes Ltd                   CC Limits             ICRA AA-(SO) 1550    Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Lloyds Line Pipes Ltd                   TL                    ICRA AA-(SO) 412     Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Lumax Industries Ltd                    TL                    ICRA A+ /    315.5   -
                                                              ICRA A1+
Lumax Industries Ltd                    LT fund based/CC      ICRA A+ /    605     -
                                                              ICRA A1+
Lumax Industries Ltd                    Unallocated           ICRA A+ /    279.5   -
                                                              ICRA A1+
Lumax Industries Ltd                    CP                    ICRA A+ /    500     -
                                                              ICRA A1+
Mojika Real Estate &                    FBL                   ICRA BB      150     Upgraded
Developers Pvt Ltd                                                                 from ICRA
                                                                                   BB-(SO)
Mspl Ltd                                FB – TL               ICRA BBB-    4450    Reaffirmed
Mspl Ltd                                FB – CC               ICRA BBB-    3150    Reaffirmed
Nandini Fitness Pvt Ltd                 LT Fund based         ICRA D       70      -
(Issuer not Cooperating)
Our Co. Infrastructure                  FB optionally         ICRA BB      30      Reaffirmed
Developers Pvt. Ltd.                    convertible debenture
Our Co. Infrastructure                  FB TL                 ICRA BB      810     Reaffirmed
Developers Pvt. Ltd.
Ramgad Minerals And Mining Ltd          FB – TL               ICRA BBB-    2050    Reaffirmed
Ramgad Minerals And Mining Ltd          FB – CC               ICRA BBB-    100     Reaffirmed
Ramgad Minerals And Mining Ltd          Unallocated           ICRA BBB-    735     Reaffirmed
Samet Plast                             BLR                   ICRA B- /    80      -
                                                              ICRA A4
(Issuer not Cooperating)
Sb Urbanscapes                          LT- Unallocated LimitsICRA B       200     Assigned
Shivam Pipe Industries                  FB TL                 ICRA B-      35      Reaffirmed
Shivam Pipe Industries                  FB CC                 ICRA B-      55      Reaffirmed
Shivam Pipe Industries                  Non-FBL               ICRA B-      20      Reaffirmed
Shree Banke Bihari Buildcon             Bk Fac                ICRA B- /    100     -
                                                              ICRA A4
(Issuer not Cooperating)
Shri Lakshmi Metal Udyog Ltd            CCL                   ICRA AA-(SO) 900     Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Shri Lakshmi Metal Udyog Ltd            TL                    ICRA AA-(SO) 60      Upgraded
                                                                                   from ICRA
                                                                                   A+(SO)
Talwar Commercial Pvt Ltd               TL                    ICRA BB      120     Withdrawn
The Indian Electric Company             LT: FB – CC           ICRA BB      155     Revised from
                                                                                   ICRA BB+
The Indian Electric Company             LT/ST: Unallocated    ICRA BB /    16      Revised from
                                                              ICRA A4+             ICRA BB+ /
                                                                                   ICRA A4+
Vento Ceramic                           FB –Cash Credi        ICRA B       30      Withdrawn
Vento Ceramic                           FB –TL                ICRA B       43.5    Withdrawn
Vento Ceramic                           Unallocated Limits    ICRA B       23      Withdrawn
--------------------------------------------------------------------------------------------
$: 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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