September 6, 2019 / 11:17 AM / 15 days ago

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, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anmol Feeds Pvt Ltd                     Non-FBL               ICRA A3      35.5    Reaffirmed
Ghaziabad Mechfab Pvt Ltd               ST-Non fund Based     ICRA A4      60      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Jai And Sons Pvt Ltd                    FB Fac                ICRA A4      87      Withdrawn
Jai And Sons Pvt Ltd                    Non-FB Fac            ICRA A4      10      Withdrawn
Kwal Pro Exports                        ST-Non fund Based     ICRA A4      1       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mehta Petro Refineries Ltd              Non-FBL               ICRA A3      750     Reaffirmed
Sesa Minerals Ltd                       FB – FDBP/FUDBP       ICRA A4      200     Reaffirmed
Sesa Minerals Ltd                       FB – Packing credit # ICRA A4      -       Reaffirmed
#sub-limit of FDBP/FUDBP
Sesa Minerals Ltd                       Non-Fund based – LOC  ICRA A4      ^       Reaffirmed
^sub-limit of cash credit
Tata Asset Management Ltd               Tata Overnight Fund   ICRA A1+mfs  -       Assigned
Tata Asset Management Ltd               Tata Ultra ST Fund    ICRA A1+mfs  -       Outstanding
Tata Asset Management Ltd               Tata Money Market FundICRA A1+mfs  -       Outstanding
Tata Asset Management Ltd               Tata Liquid Fund      ICRA A1+mfs  -       Outstanding
Titan Co. Ltd                           CP                    ICRA A1+     9000    Assigned

MEDIUM TERM RATINGS:
-------------------
Titan Co. Ltd                           Fixed deposit         MAAA         15000   Outstanding
                                        programme             (Stable)



LONG TERM RATINGS:
-------------------
Anmol Feeds Pvt Ltd                     CC                    ICRA BBB-    110     Reaffirmed
Anmol Feeds Pvt Ltd                     Unallocated limits    ICRA BBB-/A3 34.5    Reaffirmed
Ghaziabad Mechfab Pvt Ltd               LT-Fund Based/CC      ICRA B+      45      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Indian Pulp & Paper Pvt Ltd             FBL- TL**             ICRA D       380.7   Reaffirmed
**Term Loans include Funded Interest Term Loan and Working Capital Term Loan
Indian Pulp & Paper Pvt Ltd             FBL- CC               ICRA D       159.3   Reaffirmed
Jai And Sons Pvt Ltd                    FB/CC                 ICRA B+      40      Withdrawn
                                                              (Stable)
Jai And Sons Pvt Ltd                    Unallocated Limits    ICRA B+      23.4    Withdrawn
                                                              (Stable) /
                                                              ICRA A4
Krishna Rice Mills Pvt Ltd              CC                    ICRA BB-     175     Assigned
                                                              (Stable)
Krishna Rice Mills Pvt Ltd              TL                    ICRA BB-     37.4    Assigned
                                                              (Stable)
Krishna Rice Mills Pvt Ltd              Unallocated           ICRA BB-     37.6    Assigned
                                                              (Stable)/A4
Kwal Pro Exports                        LT-Fund Based/CC      ICRA B+      90      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Kwal Pro Exports                        LT-TL                 ICRA B+      3       -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mehta Petro Refineries Ltd              FB sub-limits#        ICRA BBB- /  -       Reaffirmed
                                                              ICRA A3
#Total utilisation of fund based and non-fund based sublimits should not exceed Rs. 75.00 crore
Mehta Petro Refineries Ltd              Non-fund based        ICRA BBB- /  -       Reaffirmed
                                        sub-limits#           ICRA A3
#Total utilisation of fund based and non-fund based sublimits should not exceed Rs. 75.00 crore
Mehta Petro Refineries Ltd              Unallocated limits    ICRA BBB- /  150     Reaffirmed
                                                              ICRA A3
Midland Microfin Ltd -                  PTC Series A1         Provisional  402.1   Assigned
Northern Arc 2019 Mfi Gromov                                  ICRA A (SO)
Midland Microfin Ltd -                  PTC Series A2         Provisional  13.9    Assigned
Northern Arc 2019 Mfi Gromov                                  ICRA BBB+
                                                              (SO)
Rachana Television Pvt. Ltd             Unallocated limited   ICRA BB      115     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+(Stable)
Rayat & Bahra Group Of                  Non-fund Based        ICRA D       32      -
Institutes
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rayat & Bahra Group Of                  LT-Fund Based/CC      ICRA D       726.1   -
Institutes
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rayat & Bahra Group Of                  LT-Unallocated        ICRA D       21.9    -
Institutes
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sesa Minerals Ltd                       FB – CC               ICRA B+      350     Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
Shri Dhanpat Rai Memorial Bal           Fund based – TL       ICRA A-      500     Withdrawn
Shiksha Vikas Society                                         (Stable)
(Issuer Not Cooperating)
Shriya Rice Mills                       Fund Based – TL       ICRA B       4       Reaffirmed
                                                              (Stable)
Shriya Rice Mills                       Fund Based – Working  ICRA B       55      Reaffirmed
                                        Capital Fac           (Stable)
Shriya Rice Mills                       Unallocated           ICRA B       26      Reaffirmed
                                                              (Stable)
Sri Srinivasa Rice Mill                 LT - Fund Based / CC  ICRA         60      Reaffirmed
(Mahendrawada)                                                BB-(Stable)
Sri Srinivasa Rice Mill                 Non-fund Based        ICRA         40      Reaffirmed
(Mahendrawada)                          –Unallocated          BB-(Stable)
Tata Asset Management Ltd               Tata Treasury         ICRA A+mfs   -       Outstanding
                                        Advantage Fund
Tata Asset Management Ltd               Tata ST Bond Fund     ICRA AAAmfs  -       Outstanding
Tata Asset Management Ltd               Tata Dynamic Bond FundICRA AAAmfs  -       Outstanding
Tata Asset Management Ltd               Tata Income Fund      ICRA AAAmfs  -       Outstanding
Titan Co. Ltd                           Fund based / Non-FBL  ICRA AA+     17000   Outstanding
                                                              (Positive)
                                                              / ICRA A1+
--------------------------------------------------------------------------------------------
$: 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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