September 5, 2017 / 10:41 AM / 17 days ago

ICRA ratings for Indian debt instruments-Sep 5

    Sep 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 4, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Hanuman Foods                           ST NFBL               ICRA A4      30      Reaffirmed
Indian Products Pvt Ltd                 ST – Fund based       ICRA A4      1650    Revised from
                                                                                   ICRA D
Indian Products Pvt Ltd                 ST – Non fund based   ICRA A4      280     Revised from
                                                                                   ICRA D
Jagdamba Agrico Exports Pvt Ltd         ST – FB Limits        ICRA A4      500     -
Issuer Not Cooperating
Megha Technical & Engineers             LOC/BG                ICRA A1+     30      upgraded
Pvt Ltd                                                                            from ICRA A1
Meghalaya Power Ltd                     LOC/BG                ICRA A1+     70      Upgraded
                                                                                   from ICRA A1
National Fertilizers Ltd                ST- Non FB Fac        ICRA A1+     15000   Reaffirmed
National Fertilizers Ltd                CP^                   ICRA A1+     40000   Reaffirmed
^ CP programme has been carved out of the long term fund based facilities and total utilization
of CP and ICD combined should not exceed the sanctioned limits for long term fund based
facilities
National Fertilizers Ltd                ST limitsUnallocated  ICRA A1+     6373.9  Reaffirmed
Power Finance Corporation Ltd           ST borrowing          ICRA A1+     150000^ Assigned
                                        programme FY2018
^Short term borrowings are interchangeable with long term borrowings, subject to the total
borrowings in FY2018 not exceeding Rs. 51,000 crore
Prasad Multi Services Pvt Ltd           BG                    ICRA A4      22.7    Assigned
Prasad Multi Services Pvt Ltd           LOC                   ICRA A4      *       Assigned
*sublimit of Bank Guarantee
Reliance Securities Ltd                 CP programme          ICRA A1+     2000    Assigned /
                                                                                   outstanding
Reliance Securities Ltd                 ST non-fund based Bk  ICRA A1+     4000    Outstanding
                                        Fac
Rmp Bearings Ltd                        Inland LC             ICRA A4      1       -
Issuer Not Cooperating
Star Cement Ltd                         ST loans              ICRA A1+     1500    Upgraded
                                                                                   from ICRA A1
Star Cement Ltd                         LOC/BG                ICRA A1+     250     Upgraded
                                                                                   from ICRA A1
Star Cement Meghalaya Ltd               ST loans              ICRA A1+     200     Upgraded
                                                                                   from ICRA A1
Star Cement Meghalaya Ltd               LOC/BG                ICRA A1+     100     Upgraded
                                                                                   from ICRA A1
Sudiva Spinners Pvt Ltd                 ST non-fund based Bk  ICRA A3+     66      Reaffirmed
                                        Fac
Suryalakshmi Cotton Mills Ltd           Non-FB Fac            ICRA A2      833.3   Outstanding
Synergy Ski Infradevelopment            ST – Non fund based BGICRA A4+     30      -
Issuer Not Cooperating


MEDIUM TERM RATINGS:
-------------------
Berar Finance Ltd                       Fixed Deposit         MA-          700     Reaffirmed
                                        Programme


LONG TERM RATINGS:
-------------------
Adani Petronet (Dahej) Port             FB limits             ICRA A-      1978.8  Withdrawn
Pvt Ltd
Adani Petronet (Dahej) Port             LT- Unallocated       ICRA A-      21.2    Withdrawn
Pvt Ltd
Adig Jemtex Pvt Ltd                     LT FB – CC            ICRA B+      15      Withdrawn
Adig Jemtex Pvt Ltd                     LT FB – TL            ICRA B+      55      Withdrawn
Adig Jemtex Pvt Ltd                     LT – Unallocated      ICRA B+      30      Withdrawn
B.K. Print And Pack                     FB – CC               ICRA BB-     49      Assigned
B.K. Print And Pack                     FB – TL               ICRA BB-     3.5     Assigned
Bda Healthcare Pvt Ltd                  BLR                   ICRA B       100     -
Issuer not cooperating
Berar Finance Ltd                       Fund based Bk lines   ICRA BBB-    590     Reaffirmed
Bhopal Dhule Transmission Co.           NCD                   Provisional  7350    Assigned
Ltd                                                           ICRA AAA
Chhapra Hajipur Expressways Ltd         Fund Based-TL         ICRA D       7569.9  Reaffirmed
Greenwood High Trust                    BLR                   ICRA A+      500     -
Review process is underway
Hanuman Foods                           LT FBL                ICRA B       120     Reaffirmed
Indian Products Pvt Ltd                 LT – Fund based -     ICRA BB      -       Revised from
                                        sublimit                                   ICRA D
International Infrabuild Pvt            NCD                   Provisional  900     -
Ltd                                                           ICRA AA-
Confirmed as final with Stable outlook
J D Industries                          FB – TL               ICRA D       15.8    Downgraded
                                                                                   from ICRA B+
J D Industries                          FB – CC               ICRA D       65      Downgraded
                                                                                   from ICRA B+
J D Industries                          Non FB – BG           ICRA D       40      Downgraded
                                                                                   from ICRA A4
J D Industries                          Unallocated limits    ICRA D/D     19.2    Downgraded
                                                                                   from ICRA
                                                                                   B+/A4
Jagdamba Agrico Exports Pvt Ltd         LT – FB Limits        ICRA B+      50      -
Issuer Not Cooperating
Lahore Hospital Society                 FB – TL               ICRA BBB+    120     Assigned
Mangalmurti Bio-Chem Pvt Ltd            FB – CC               ICRA B       20      -
Issuer Not Cooperating
Mangalmurti Bio-Chem Pvt Ltd            Fund based – TL       ICRA B       39.9    -
Issuer Not Cooperating
Megha Technical & Engineers             CC                    ICRA A+      150     -
Pvt Ltd
Outlook changed from Stable to Positive
Meghalaya Power Ltd                     CC                    ICRA A+      280     Reaffirmed
Meghalaya Power Ltd                     TL                    ICRA A+      1053.9  Reaffirmed
National Fertilizers Ltd                LT-CC Limits          ICRA AA      40000   Reaffirmed
National Fertilizers Ltd                TL                    ICRA AA      7880    Reaffirmed
National Fertilizers Ltd                NCD                   ICRA AA      401.6   Withdrawn
Paramshakti Steels Ltd                  BLR                   ICRA D/D     3772.2  -
Issuer delayed in giving information
Power Finance Corporation Ltd           LT borrowing          ICRA AAA     360000^ Outstanding
                                        programme FY2018
^Short term borrowings are interchangeable with long term borrowings, subject to the total
borrowings in FY2018 not exceeding Rs. 51,000 crore
Prasad Multi Services Pvt Ltd           CC Limit              ICRA C       60      Assigned
Prasad Multi Services Pvt Ltd           TL Limit              ICRA C       70.5    Assigned
Prasad Multi Services Pvt Ltd           Corporate Loan Limit  ICRA C       38.4    Assigned
Ranchi Expressways Ltd                  Fund Based-TL         ICRA D       11916   Reaffirmed
Rmp Bearings Ltd                        TL                    ICRA BB      11.2    -
Issuer Not Cooperating
Rmp Bearings Ltd                        CC                    ICRA BB      130     -
Issuer Not Cooperating
S. Nanda Industries Pvt Ltd             FB Limits             ICRA D       120     -
Issuer Not Cooperating
S. Nanda Industries Pvt Ltd             LT – Unallocated      ICRA D       40      -
                                        Limits
Issuer Not Cooperating
Shiv Sai Metal Products Pvt Ltd         FB-limit- cashcredit  ICRA B+      80      Reaffirmed
                                        facility
Issuer Not Cooperating
Shiv Sai Metal Products Pvt Ltd         Non-FB-limit          ICRA B+      40      Reaffirmed
Issuer Not Cooperating
Shriman Enterprises                     LT – TL               ICRA B       360     -
Issuer Not Cooperating
Star Cement Ltd                         CC                    ICRA A+      1990    Reaffirmed
Star Cement Ltd                         TL                    ICRA A+      1394.5  Reaffirmed
Star Cement Ltd                         Corporate Loans       ICRA A+      800     Reaffirmed
Star Cement Ltd                         Unallocated           ICRA A+      400     Reaffirmed
Star Cement Meghalaya Ltd               CC                    ICRA A+      1100    Reaffirmed
Star Cement Meghalaya Ltd               TL                    ICRA A+      1941.2  Reaffirmed
Sudiva Spinners Pvt Ltd                 LT FB Bk Fac          ICRA BBB     1449.5  Reaffirmed
Suryalakshmi Cotton Mills Ltd           Unallocated           ICRA         100     Outstanding
                                                              BBB+/A2
Suryalakshmi Cotton Mills Ltd           TL                    ICRA BBB+    1618.7  Outstanding
Suryalakshmi Cotton Mills Ltd           FB Fac                ICRA BBB+    1620    Outstanding
Synergy Ski Infradevelopment            LT – FB CC            ICRA BB      70      -
Issuer Not Cooperating
Talwalkars Better Value                 LT-TL                 ICRA AA-     2980.7  Reaffirmed
Fitness Ltd
Talwalkars Better Value                 NCD                   ICRA AA-     2250    Reaffirmed
Fitness Ltd
Triveni Kripa Build Home Pvt            LT FBL                ICRA BB      90      -
Ltd
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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