September 9, 2019 / 10:46 AM / 13 days ago

ICRA ratings for Indian debt instruments-Sep 9

    Sep 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 6, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Agni Steels Pvt Ltd                     Fund Based – Drawee   ICRA A2      100     Reaffirmed
                                        Bill Discounting
Agni Steels Pvt Ltd                     Non-fund Based – LOC  ICRA A2      350     Reaffirmed
Agni Steels Pvt Ltd                     Non-fund Based –      ICRA A2      -       Reaffirmed
                                        Interchangeable to BG
                                        (sublimit of LC)
Anjalee Granites Pvt Ltd                Non FB limits         ICRA A4      58.8    Reaffirmed
Cicon Engineers Pvt Ltd                 ST- Non-Fund Based    ICRA A3+     650     Assigned
Dalkan Ship Breaking Ltd                LOC                   ICRA A4+     300
Issuer not cooperating
Golden Seams Industries Pvt Ltd         ST - Non-Fund Based   ICRA A4+     150     Reaffirmed
ICICI Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Overnight Fund
Indiabulls Commercial Credit            CP (CP) Programme     ICRA A1+     80000   Reaffirmed
Ltd
MSPL Ltd                                Non-fund Based        ICRA A2+     400     Reaffirmed
Paras Steel Corporation                 LOC                   ICRA A4+     300
Issuer not cooperating
Punjab Alkalies & Chemicals Ltd         ST – Non-fund Based   ICRA A4+     20.5    Assigned
Vijaykumar And Co.                      LOC                   ICRA A4+     300
Issuer not cooperating

LONG TERM RATINGS:
-------------------
Agni Steels Pvt Ltd                     Fund Based – Working  ICRA BBB+    500     Reaffirmed
                                        Capital Fac           (Stable)
Agni Steels Pvt Ltd                     Fund Based – TL       ICRA BBB+    372.7   Reaffirmed
                                                              (Stable)
Agni Steels Pvt Ltd                     Unallocated           ICRA BBB+    141.1   Reaffirmed
                                                              (Stable)/
                                                              ICRA A2
Anjalee Granites Pvt Ltd                FBL                   ICRA BB-     300     Reaffirmed
                                                              (Stable)
Anjalee Granites Pvt Ltd                Unallocated Limits    ICRA BB-     161.3   Reaffirmed
                                                              (Stable)/ A4
Cicon Engineers Pvt Ltd                 LT -Fund Based        ICRA BBB     100     Assigned
                                                              (Stable)
Dalkan Ship Breaking Ltd                CC*                   ICRA BB+
                                                              (Stable)
Issuer not cooperating; *Sub-limit of letter of credit
Five-Star Business Finance              PTC Series A1         Provisional  990.5   Assigned
Ltd- Northern Arc 2019 Sbl                                    ICRA AA-
Medici                                                        (SO)
Ge Power Systems India Pvt Ltd          Unallocated           ICRA A+      750     Reaffirmed
(Erstwhile Alstom Bharat Forge                                (Stable)/
Power Pvt Ltd)                                                ICRA A1+
Ge Power Systems India Pvt Ltd          Non-FB Fac – LC/BG    ICRA A+      39250   Reaffirmed
(Erstwhile Alstom Bharat Forge                                (Stable)/
Power Pvt Ltd)                                                ICRA A1+
Golden Seams Industries Pvt Ltd         LT - Fund Based       ICRA BB+     600     Reaffirmed
                                                              (Stable)
ICICI Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fund (erstwhile ICICI
                                        Prudential ST Plan)
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fixed Maturity Plan –
                                        Series 82 – 1185 Days Plan I
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Liquid Fund
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Bking And PSU Debt
                                        Fund
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Corporate Bond Fund
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Savings Fund
ICICI Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Money Market
ICICI Prudential Asset                  ICICI Prudential      ICRA AAmfs   -       Withdrawn
Management Co. Ltd                      Medium Term Bond Fund
                                        (erstwhile ICICI Prudential Corporate Bond Fund)
Moonlight Marbles Pvt Ltd               Fund Based - Working  ICRA D       120
                                        Capital
Downgraded from ICRA B- (Stable)
Moonlight Marbles Pvt Ltd               Fund Based - TL       ICRA D       5.4
Downgraded from ICRA B- (Stable)
MSPL Ltd                                FB – TL               ICRA A-      2850    Reaffirmed
                                                              (Stable)
MSPL Ltd                                FB – CC               ICRA A-      2000    Reaffirmed
                                                              (Stable)
MSPL Ltd                                Unallocated           ICRA A-      2750    Reaffirmed
                                                              (Stable)
Palamur Biosciences Pvt Ltd             Fund based/ CC        ICRA BB+     20      Assigned
                                                              (Stable)
Palamur Biosciences Pvt Ltd             Unallocated limits    ICRA BB+     80      Assigned
                                                              (Stable)
Paras Steel Corporation                 CC*                   ICRA BB+
                                                              (Stable)
Issuer not cooperating; *Sub-limit of letter of credit
Pinkcity Build Home Pvt Ltd             FB - TL               ICRA BB+     305     Reaffirmed
                                                              (Stable)
Pinkcity Build Home Pvt Ltd             Unallocated Limits    ICRA BB+     125.3   Reaffirmed
                                                              (Stable)/
                                                              ICRA A4+
Positive Micron Llp                     Fund Based – TL       ICRA D       130
Downgraded from ICRA B(Stable)
Positive Micron Llp                     Fund Based – Working  ICRA D       40
                                        Capital Fac
Downgraded from ICRA B(Stable)
Positive Micron Llp                     Non-fund Based – BG   ICRA D       13.5
Downgraded from ICRA A4
Punjab Alkalies & Chemicals Ltd         LT - Fund Based/ CC   ICRA BB      52.7    Assigned
                                                              (Stable)
Punjab Alkalies & Chemicals Ltd         LT / ST - Unallocated ICRA BB      326.8   Assigned
                                                              (Stable) /
                                                              A4+
Sbc Minerals Pvt Ltd                    FB CC                 ICRA BB-     250     Reaffirmed
                                                              (Stable)
Removed from non-cooperation category
Sudha Bio Power Pvt Ltd                 Fund Based – TL       ICRA BB+     180     Reaffirmed
                                                              (Stable)
Sudha Bio Power Pvt Ltd                 Fund Based – CC       ICRA BB+     65      Reaffirmed
                                                              (Stable)
Sudha Bio Power Pvt Ltd                 Unallocated Limits    ICRA BB+     15      Reaffirmed
                                                              (Stable)
Vijaykumar And Co.                      CC*                   ICRA BB+
                                                              (Stable)
Issuer not cooperating; *Sub-limit of letter of credit

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