September 6, 2018 / 11:08 AM / in 3 months

ICRA ratings for Indian debt instruments-Sep 6

    Sep 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 5, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A.S. Export                             Fund Based: Working   ICRA A3      300*    Reaffirmed
                                        Capital Limits
*Consists Export Pre Finance (PC) sub-limit of Rs. 12.00 crore, Export Pre Finance (PC-DDA)
sub-limit of Rs. 30.00 crore, Direct Export sub-limit of Rs. 30.00 crore and Associate Bill
sub-limit of Rs. 4.50 crore.
Ascend Telecom Infrastructure           ST Non-FB Limits      ICRA A2+     250     Assigned
Pvt Ltd
Chadha Sugars & Industries Ltd          LC                    ICRA A4      60      -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
P.M. Electro-Auto Pvt. Ltd              ST: Non fund based    ICRA A4+     505     Withdrawn
                                        –LC/BG
Samhi Jv Business Hotels Pvt            ST Fund based         ICRA A3+     100     Withdrawn
Ltd
Samhi Jv Business Hotels Pvt            ST Non-fund based     ICRA A3+     150     Withdrawn
Ltd
Shree Ajit Pulp And Paper Ltd           ST Non-Fund based     ICRA A2+     20      Reaffirmed
Shree Ajit Pulp And Paper Ltd           ST Interchangeable    ICRA A2+     -       Reaffirmed

LONG TERM RATINGS:
-------------------
Aggarwal Foods                          FB Limits             ICRA BB      150     Upgraded
                                                                                   from ICRA BB-
Aggarwal Foods                          Unallocated           ICRA BB      18      Upgraded
                                                                                   from ICRA BB-
Ajay Modern Rice Mill                   CC facility           ICRA B-      64      Assigned
Ajay Modern Rice Mill                   TL                    ICRA B-      5       Assigned
Ajay Modern Rice Mill                   Unallocated facility  ICRA B-      1       Assigned
Ascend Telecom Infrastructure           Long-TL               ICRA A-      5830    Upgraded
Pvt Ltd                                                                            from ICRA BBB
Ascend Telecom Infrastructure           LT FB Limits          ICRA A-      250     Upgraded
Pvt Ltd                                                                            from ICRA BBB
Chadha Sugars & Industries Ltd          TL                    ICRA B       1683.3  -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Chadha Sugars & Industries Ltd          FBL                   ICRA B       1098    -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Chadha Sugars & Industries Ltd          Unallocated           ICRA B       404.6   -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Electronica Finance Ltd -               PTC Series A1         ICRA A+      -       Upgraded
Egret Sbl Ifmr Capital 2016                                                        from ICRA A
Electronica Finance Ltd -               PTC Series A2         ICRA BBB-    -       Upgraded
Egret Sbl Ifmr Capital 2016                                                        from ICRA
                                                                                   BBB+
Electronica Finance Ltd - Mse           PTC Series A          ICRA AA      -       Withdrawn
Loan Pool Trust –Viii
Electronica Finance Ltd - Mse           PTC Series A2         ICRA A+      -       Upgraded
Loan Pool Trust –X                                                                 from ICRA A
Electronica Finance Ltd - Mse           PTC Series A1         ICRA AA-     -       Upgraded
Loan Pool Trust –X                                                                 from ICRA A+
Friends Agro Industries                 FB Limits             ICRA D       96      -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Jana Small Finance Bank Ltd -           PTC Series A2         ICRA D       -       Withdrawn
Oceania Ifmr Capital 2016
Leisure Wear Exports Ltd                FB Limits             ICRA D       60      -
(Reason for delay in carrying out periodic review-Issuer not cooperating)
Northern Arc Capital Ltd -              NCDs                  ICRA A       -       Reaffirmed
Ifmr
Capital P.B.I.
Xvii 2017
Northern Arc Capital Ltd -              NCDs                  ICRA A-      -       Reaffirmed
Ifmr
Capital P.B.I.
Xvii 2017
Northern Arc Capital Ltd -              NCDs                  ICRA A-      -       Reaffirmed
Ifmr
Capital P.B.I.
Xvii 2017
Northern Arc Capital Ltd -              NCDs                  ICRA A-      -       Reaffirmed
Ifmr
Capital P.B.I.
Xvii 2017
Northern Arc Capital Ltd -              NCDs                  ICRA A-      -       Reaffirmed
Ifmr
Capital P.B.I.
Xvii 2017
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd -Ifmr          NCDs                  ICRA A-      -       Reaffirmed
Capital P.B.I. Xv 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
Northern Arc Capital Ltd                NCDs                  ICRA A       -       Reaffirmed
-Ifmr
Capital P.B.I.
Xvi 2016
P.M. Electro-Auto Pvt. Ltd              LT: Fund based–CC     ICRA BB+     270     Withdrawn
P.M. Electro-Auto Pvt. Ltd              LT: Fund based–TL     ICRA BB+     183.6   Withdrawn
Samhi Jv Business Hotels Pvt            LT Fund based-TL      ICRA BBB     1860    Withdrawn
Ltd
Sheel Diamond Exports Ltd               LT FB                 ICRA BB      850     Reaffirmed
Sheel Diamond Exports Ltd               LT Unallocated        ICRA BB      300     Reaffirmed
Sheel Gems                              LT FB                 ICRA BB      870     Reaffirmed
Shiv Shanker Rice Mill                  TL                    ICRA BB-     10      Reaffirmed
Shiv Shanker Rice Mill                  CC                    ICRA BB-     365     Reaffirmed
Shree Ajit Pulp And Paper Ltd           LT FB -CC             ICRA A-      577.5   Reaffirmed
Shree Ajit Pulp And Paper Ltd           LT FB -TL             ICRA A-      950.1   Reaffirmed

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