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ICRA ratings for Indian debt instruments-Sep 21
September 21, 2017 / 10:38 AM / 3 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, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aluminium India                         Unallocated           ICRA D       20      Downgraded
                                                                                   from ICRA A4
Issuer not Cooperating
Electropath Services (India)            NFBL                  ICRA D       287.3   Downgraded
Pvt Ltd                                                                            from ICRA A4
Issuer not Cooperating
Hy-Gro Chemicals Pharmtek Pvt.          ST Non-FBL            ICRA A3+     100     Assigned
Ltd
Melco India Pvt Ltd                     NFBL                  ICRA A3      360
Issuer not Cooperating
Melco India Pvt Ltd                     Proposed- Non Fund    ICRA A3      234
                                        Based
Issuer not Cooperating
Melco India Pvt Ltd                     NFBL                  ICRA A3      360
Issuer not Cooperating
Melco India Pvt Ltd                     Proposed- Non Fund    ICRA A3      234
                                        Based
Issuer not Cooperating
Mutha Industries Pvt Ltd                Non FB – BG           ICRA A4      4       Reaffirmed
Pramukh Exim Pvt Ltd                    Bill discounting      ICRA A4      100
                                        under LC
Issuer not Cooperating
Pramukh Exim Pvt Ltd                    Bill discounting      ICRA A4      100
                                        under LC
Issuer not Cooperating
Renom Energy Services Llp               Non-fund based – LOC  ICRA A4      40      Assigned
Saimax Ceramic Pvt Ltd                  Non-FBL               ICRA A4      27.5    Reaffirmed
Shree Ajit Pulp And Paper Ltd           ST, Non-FBL           ICRA A2+     20      Reaffirmed
Shree Samrat Pulp And Paper             ST, non-fund based    ICRA A4+     0.2     Reaffirmed
Pvt Ltd
Sodium Metal Pvt Ltd                    LOC                   ICRA A3+     40      Reaffirmed
Sodium Metal Pvt Ltd                    BG                    ICRA A3+     2.5     Reaffirmed
Vibrant Processors Pvt Ltd              Non FB limits         ICRA A4      14.8    Reaffirmed
Vikas Spool Pvt Ltd                     ST Non Fund Based     ICRA A4+     21.2
Issuer not Cooperating

LONG TERM RATINGS:
-------------------
Aluminium India                         FB CC                 ICRA D       400     Downgraded
                                                                                   from ICRA BB-
Issuer not Cooperating
Buddha Sortex Rice Industries           FB Limits             ICRA B+
Pvt Ltd
Issuer not Cooperating
Electropath Services (India)            Fund Based CC Limits  ICRA D       212.7   Downgraded
Pvt Ltd                                                                            from ICRA B+
Issuer not Cooperating
Embee Ferro Alloy Pvt Ltd               Bk Fac                ICRA B /A4   233
Issuer not Cooperating
Finestar Jewellery & Diamonds           LT rating             ICRA BBB-            Upgraded
Pvt Ltd                                                                            from ICRA BB+
Hll Medipark Ltd                        LT, Proposed Bk Fac   ICRA BBB+    750     Assigned
                                                              (S)
Hy-Gro Chemicals Pharmtek Pvt.          LT FB Limits          ICRA BBB     133.2   Assigned
Ltd
Hy-Gro Chemicals Pharmtek Pvt.          LT Non-FBL            ICRA BBB     10      Assigned
Ltd
Jai Maharashtra Nagar                   NCD programme         ICRA D       780     Reaffirmed
Development Pvt Ltd
Lic Mutual Fund Asset                   LIC MF Capital        ICRA                 Withdrawn
Management Co. Ltd                      Protection Oriented   AAAmfs(SO)
                                        Fund – Series 4
Maheshwaram Transmission Ltd            TL                    ICRA BBB     3200    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Maheshwaram Transmission Ltd            LOC                   ICRA BBB             Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Melco India Pvt Ltd                     FBL                   ICRA BBB-    106
Issuer not Cooperating
Melco India Pvt Ltd                     FBL                   ICRA BBB-    106
Issuer not Cooperating
Mutha Industries Pvt Ltd                FB – CC               ICRA B       27.5    Reaffirmed
Mutha Industries Pvt Ltd                FB – TL               ICRA B       40.2    Reaffirmed
Revised from 7.89 CR
Mutha Industries Pvt Ltd                Unallocated Limits    ICRA B /A4   41.3    Reaffirmed
Revised from 0.26 CR
Muthoot Microfin Ltd- Abruzzi           PTC Series A1         ICRA A- (SO)         Reaffirmed
Ifmr Capital 2017
Muthoot Microfin Ltd- Abruzzi           PTC Series A2         ICRA BBB             Reaffirmed
Ifmr Capital 2017                                             (SO)
Muthoot Microfin Ltd- Martial           PTC Series A1         ICRA A (SO)          Reaffirmed
Ifmr Capital 2017
Muthoot Microfin Ltd- Martial           PTC Series A2         ICRA BBB             Reaffirmed
Ifmr Capital 2017                                             (SO)
Muthoot Microfin Ltd- Tanner            PTC Series A1         ICRA A (SO)          Reaffirmed
Ifmr Capital 2016
Muthoot Microfin Ltd- Tanner            PTC Series A2         ICRA BBB             Reaffirmed
Ifmr Capital 2016                                             (SO)
Narula Solvex Pvt Ltd                   CC Fac                ICRA B+      120
Issuer not Cooperating
Narula Solvex Pvt Ltd                   CC Fac                ICRA B+      120
Issuer not Cooperating
Navdanya Foods Pvt Ltd                  Bk Fac                ICRA B /A4   65
Issuer not Cooperating
Pr Packing Service                      FBL                   ICRA B+      18.8    Assigned
Pr Packing Service                      Unallocated limit     ICRA B+      26.2    Assigned
Pr Packing Service                      LT and ST Non Fund    ICRA B+ /A4  185     Assigned
                                        and FB limits
Pramukh Exim Pvt Ltd                    CC                    ICRA C-      50
Issuer not Cooperating
Pramukh Exim Pvt Ltd                    CC                    ICRA C-      50
Issuer not Cooperating
R Ramu                                  BLR                   ICRA BB /A4  650
Issuer not Cooperating
Renom Energy Services Llp               FB – CC               ICRA B+      40      Assigned
Rewa Shiksha Samiti                     LT – FB – TL          ICRA B       60      Upgraded
                                                                                   from ICRA D
Rewa Shiksha Samiti                     LT – Unallocated      ICRA B       5       Upgraded
                                                                                   from ICRA D
Saimax Ceramic Pvt Ltd                  FB Limit              ICRA B+      80.5    Reaffirmed
Saravana Global Energy Ltd              BLR                   ICRA D /D    800
Issuer not Cooperating
Saravana Global Energy Ltd              BLR                   ICRA D /D    800
Issuer not Cooperating
Sathyanarayana Agro Industries          LT – TL               ICRA B+      10      Reaffirmed
Sathyanarayana Agro Industries          LT – FB CC            ICRA B+      50      Reaffirmed
Sf Dyes                                 LT FBL                ICRA BB-     65      Reaffirmed
Sf Dyes                                 Unallocated limits    ICRA BB- /A4 35      Reaffirmed
Shree Ajit Pulp And Paper Ltd           LT, FB Limits         ICRA A-      719.6   Reaffirmed
Shree Samrat Pulp And Paper             LT, FB                ICRA BB+     117.2   Reaffirmed
Pvt Ltd
Shri Krishna Agro Industries            Fund Based CC         ICRA B-      50
Issuer not Cooperating
Shri Krishna Agro Industries            Unallocated           ICRA B- /A4  20
Issuer not Cooperating
Sodium Metal Pvt Ltd                    CC                    ICRA BBB     75      Reaffirmed
Sodium Metal Pvt Ltd                    PC cum FBP/FBD        ICRA BBB             Reaffirmed
Sodium Metal Pvt Ltd                    Inland bill           ICRA BBB             Reaffirmed
                                        purchase/discount
Sodium Metal Pvt Ltd                    Inland/Foreign LC     ICRA BBB             Reaffirmed
Sonata Finance Pvt Ltd-                 PTC Series A2         ICRA A- (SO)         Withdrawn
Mithras Ifmr Capital 2015
Sonata Finance Pvt Ltd-                 PTC Series A3         ICRA B+ (SO)         Withdrawn
Mithras Ifmr Capital 2015
Sparkle Terminal And Towage             NCD                   ICRA AA-     1000    Assigned
Services Ltd                                                  (SO)
Sunny Exports                           FB limits             ICRA B+      50      Assigned
Sunny Exports                           Unallocated limit     ICRA B+ /A4  100     Assigned
Utkal Automobiles Ltd                   Bk Fac                ICRA BBB-    542.5
                                                              /A3
Issuer not Cooperating
Utkal Automobiles Ltd                   Bk Fac                ICRA BBB-    542.5
                                                              /A3
Issuer not Cooperating
Vibrant Processors Pvt Ltd              FB limits             ICRA BB-     93.3    Reaffirmed
Vibrant Processors Pvt Ltd              Unallocated limit     ICRA BB- /A4 53.4    Reaffirmed
Vikas Spool Pvt Ltd                     LT Fund Based         ICRA BB      98.8
Issuer not Cooperating
Vikas Spool Pvt Ltd                     LT/ST Unallocated     ICRA BB/ A4+ 20
Issuer not Cooperating

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