September 21, 2018 / 11:23 AM / 4 months ago

ICRA ratings for Indian debt instruments-Sep 21

    Sep 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 20, 2018.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                           (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Capital Ltd                CP Programme          ICRA A1+     27000   Outstanding
Alkali Metals Ltd                       Non-FBL               ICRA A4+     85
Upgraded from ICRA A4
Anglo-French Drugs &                    ST non-fund based     ICRA A4+     60
Industries Ltd
Downgraded from ICRA A3
Annapurna Industries                    Non FB –BG            ICRA A4      70
Issuer Not Cooperating; Ratings continue to remain under ‘Issuer Not Cooperating’ category
Chowgule Industries Pvt Ltd             ST fund Based         ICRA A1      320
Reaffirmed; Rating removed from rating watch with negative implication
Chowgule Industries Pvt Ltd             Non-Fund Based        ICRA A1      5
Reaffirmed; Rating removed from rating watch with negative implication
Dixon Technologies (India) Ltd          FB - Working Capital  ICRA A1+     500     Reaffirmed
(Erstwhile Dixon Technologies           Fac
(India) Pvt Ltd)
Dixon Technologies (India) Ltd          Non-fund              ICRA A1+     850     Reaffirmed
(Erstwhile Dixon Technologies           Based-Working Capital
(India) Pvt Ltd)                        Fac (ST scale)
Dixon Technologies (India) Ltd          Non-fund              ICRA A1+     1500    Reaffirmed
(Erstwhile Dixon Technologies           Based-Working Capital
(India) Pvt Ltd)                        Fac (ST scale - Interchangeable) ^
^ between non-fund based and fund based
Dixon Technologies (India) Ltd          CP                    ICRA A1+     250     Reaffirmed
(Erstwhile Dixon Technologies
(India) Pvt Ltd)
Dodla Dairy Ltd                         ST FBL                ICRA A1+     300     Reaffirmed
Icewear Creation                        ST FB limits          ICRA A4      275     Reaffirmed
Pahal Financial Services Pvt.           MFI Grading           M2           -       Assigned
Ltd.
Salguti Industries Ltd                  ST Non-FBL            ICRA A4      92.9    Reaffirmed
Somic Zf Components Pvt Ltd             ST Fund               ICRA A1      317.5   Reaffirmed
                                        Based/Non-Fund Based
Sundaram Brake Linings Ltd              ST Non -fund based    ICRA A2      40.7    Reaffirmed
Sundaram Brake Linings Ltd              ST Fund based sublimitICRA A2      -       Reaffirmed
Sundaram Brake Linings Ltd              ST Non-fund based     ICRA A2      -       Reaffirmed
                                        sublimit
Synthetic Packers Pvt Ltd               ST - Non-Fund based   ICRA A3      169.2   Reaffirmed
Vikram Solar Pvt Ltd                    Non-fund              ICRA A2+     16570
                                        based-Working Capital
                                        Fac
Assigned/ outstanding

LONG TERM RATINGS:
-------------------
Aditya Birla Capital Ltd                NCDs Programme        ICRA AAA     8000    Assigned
Alkali Metals Ltd                       FBL                   ICRA BB      180     Reaffirmed
Alkali Metals Ltd                       Unallocated Limits    ICRA BB      155
                                                              /ICRA A4+
Reaffirmed / Upgraded from ICRA A4
Anglo-French Drugs &                    LT FB /CC             ICRA BB      170
Industries Ltd
Downgraded from ICRA BBB-
Anglo-French Drugs &                    LT FB TL              ICRA BB      30
Industries Ltd
Downgraded from ICRA BBB-
Annapurna Industries                    FBL –TL               ICRA B+      14.5
Issuer Not Cooperating; Ratings continue to remain under ‘Issuer Not Cooperating’ category
Annapurna Industries                    FBL –CC               ICRA B+      60
Issuer Not Cooperating; Ratings continue to remain under ‘Issuer Not Cooperating’ category
Chowgule Industries Pvt Ltd             CC                    ICRA A       130
Reaffirmed; Assigned stable outlook; Rating removed from rating watch with negative implication
Chowgule Industries Pvt Ltd             TL                    ICRA A       75.6
Reaffirmed; Assigned stable outlook; Rating removed from rating watch with negative implication
Dixon Technologies (India) Ltd          FB -TL                ICRA A+      75      Reaffirmed
(Erstwhile Dixon Technologies
(India) Pvt Ltd)
Dixon Technologies (India) Ltd          Non-fund              ICRA A+      20      Reaffirmed
(Erstwhile Dixon Technologies           Based-Working Capital
(India) Pvt Ltd)                        Fac (LT scale)
Dodla Dairy Ltd                         Fund based-TL         ICRA A+      450
Reaffirmed and outlook revised to Positive from Stable
Dodla Dairy Ltd                         Unallocated Limits    ICRA A+      620
Reaffirmed and outlook revised to Positive from Stable
Dodla Dairy Ltd                         Fund based- CC*       ICRA A+/A1+  725
Reaffirmed and outlook revised to Positive from Stable; *Cash credit interchangeable with
short-term loans
Icewear Creation                        LT FB -TL             ICRA BB-     20.5
Upgraded from ICRA B+
Icewear Creation                        LT / ST – unallocated ICRA BB- /   1.2
                                                              ICRA A4
Upgraded from ICRA B+ /reaffirmed
Indian School Finance Company           NCD Programme         ICRA BBB-&   2040
Pvt Ltd
& Under Rating Watch with Developing Implications
Indian School Finance Company           Bk Lines              ICRA BBB-&   400
Pvt Ltd
& Under Rating Watch with Developing Implications
Indian School Finance Company           Issuer Rating         ICRA BBB-&   -
Pvt Ltd
& Under Rating Watch with Developing Implications
Modrina Auto Enterprises                FBL –CC               ICRA BB-     70
Rating continues to remain under ‘Issuer Not Cooperating’ category
Modrina Auto Enterprises                Unallocated Limits    ICRA BB-     90
Rating continues to remain under ‘Issuer Not Cooperating’ category
Premier Alloys & Chemicals Pvt          Fund based- CC        ICRA BBB+    240
Ltd
Upgraded to from ICRA BBB
Premier Alloys & Chemicals Pvt          Unallocated           ICRA BBB+    100
Ltd
Upgraded to from ICRA BBB
Salguti Industries Ltd                  FB limits             ICRA B+      212.4
Upgraded from ICRA B-
Salguti Industries Ltd                  LT Non-FBL            ICRA B+      1.5
Upgraded from ICRA B-
Salguti Industries Ltd                  LT unallocated limits ICRA B+ /A4  267.2
Upgraded from ICRA B-
Somic Zf Components Pvt Ltd             LT – Unallocated      ICRA A       164.3   Reaffirmed
Somic Zf Components Pvt Ltd             LT/ST- Fund Based     ICRA A /     50      Reaffirmed
                                                              ICRA A1
Sonata Finance Pvt Ltd                  LT Bk lines           ICRA BBB     5000
                                                              (negative)
Sonata Finance Pvt Ltd                  NCD                   ICRA BBB     4210
                                                              (negative)
Sonata Finance Pvt Ltd                  Subordinated debt     ICRA BBB     150
                                                              (negative)
Sri Venkateswara Fertilisers            CC                    ICRA B+      150
Pvt Ltd
Upgraded from ICRA B
Sri Venkateswara Fertilisers            TL                    ICRA B+      75.2
Pvt Ltd
Upgraded from ICRA B
Sri Venkateswara Fertilisers            NFBL                  ICRA B+      2
Pvt Ltd
Upgraded from ICRA B
Sri Venkateswara Fertilisers            Unallocated Limits    ICRA B+ /A4  102.8
Pvt Ltd
Upgraded from ICRA B; reaffirmed
Status Clothing Co. Ltd                 FBL – CC              ICRA D       90
Issuer Not Cooperating; Rating moved to the ‘Issuer Not Cooperating’ category
Status Clothing Co. Ltd                 FBL – TL              ICRA D       55
Issuer Not Cooperating; Rating moved to the ‘Issuer Not Cooperating’ category
Sunborne Energy Gujarat One             Fund based-TL         ICRA A-      1280    Reaffirmed
Pvt Ltd
Sundaram Brake Linings Ltd              LT Fund based TL      -            -
ICRA had ICRA BBB+ rating outstanding on the Rs.1.88 crore long-term term loan facility earlier.
This has currently been revised to nil.
Sundaram Brake Linings Ltd              LT Fund Based CC      ICRA BBB+    550     Reaffirmed
Suntana Textile Mills Pvt Ltd           Fund Based -          ICRA B-      129.5   Reaffirmed
                                        FBP/FBD/FCBP/FCBD Cum /ICRA A4
                                        PC/PCFC/PSCL
Ratings Removed From ‘Issuer Not Cooperating’ Category
Suntana Textile Mills Pvt Ltd           Fund Based – PF/PCFC^ ICRA B-      -       Reaffirmed
                                                              /ICRA A4
Ratings Removed From ‘Issuer Not Cooperating’ Category; ^Sublimits of total fund based limits.
Maximum utilisation of sub-limits should not exceed Rs. 12.95 crore.
Suntana Textile Mills Pvt Ltd           Fund Based – PSDL^    ICRA B-      -       Reaffirmed
                                                              /ICRA A4
Ratings Removed From ‘Issuer Not Cooperating’ Category; ^Sublimits of total fund based limits.
Maximum utilisation of sub-limits should not exceed Rs. 12.95 crore.
Suntana Textile Mills Pvt Ltd           Fund Based – PSDL     ICRA B-      -       Reaffirmed
                                        (Against Government   /ICRA A4
                                        incentives) ^
Ratings Removed From ‘Issuer Not Cooperating’ Category; ^Sublimits of total fund based limits.
Maximum utilisation of sub-limits should not exceed Rs. 12.95 crore.
Suntana Textile Mills Pvt Ltd           Fund Based – Direct   ICRA B-      -       Reaffirmed
                                        Bills^                /ICRA A4
Ratings Removed From ‘Issuer Not Cooperating’ Category; ^Sublimits of total fund based limits.
Maximum utilisation of sub-limits should not exceed Rs. 12.95 crore.
Suntana Textile Mills Pvt Ltd           Fund Based – CC^      ICRA B-      -       Reaffirmed
                                                              /ICRA A4
Ratings Removed From ‘Issuer Not Cooperating’ Category; ^Sublimits of total fund based limits.
Maximum utilisation of sub-limits should not exceed Rs. 12.95 crore.
Svl Ltd                                 LT, NCD programme     ICRA AA      6500    outstanding
                                                              (SO)
Svl Ltd                                 LT, TL                ICRA D       585     outstanding
Svl Ltd                                 LT, NCD programme     ICRA D       1125    outstanding
Svl Ltd                                 LT, Unallocated       ICRA D       1025    outstanding
Synthetic Packers Pvt Ltd               LT - FB - CC          ICRA BBB-    135     Reaffirmed
outlook revised from Stable to Positive
Synthetic Packers Pvt Ltd               LT - FB – TL          ICRA BBB-    90.8    Reaffirmed
outlook revised from Stable to Positive
Vikram Solar Pvt Ltd                    TL                    ICRA A-      2100    Assigned
                                                              (Positive)
Vikram Solar Pvt Ltd                    CC                    ICRA A-      4330
                                                              (Positive)
Assigned/ outstanding

--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below