April 15, 2019 / 12:25 PM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Apr 15

 (Repeating to add more ratings)
    Apr 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 12, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Arunachal Pradesh Power                 FB - Working Capital  ICRA A3      500     Assigned
Corporation Pvt Ltd                     Fac Sl.
Bamnipal Steel Ltd                      CP Programme          ICRA A1+(S)  50000   Withdrawn
Bamnipal Steel Ltd                      ST Borrowing ProgrammeICRA A1+(S)  115000  Withdrawn
Bamnipal Steel Ltd                      Proposed ST Borrowing Provisional  15000   Withdrawn
                                        Programme             ICRA A1+(S)
Haldia Petrochemicals Ltd               ST Limits- Non-FBL    ICRA A1+     36870   Reaffirmed
Haldia Petrochemicals Ltd               ST – CP programme     ICRA A1+     1000    Reaffirmed
                                        ICRA’s website for
                                        more details
Mahesh Mercandise Pvt Ltd               Non-FBL               ICRA D       195     Revised from
                                                                                   ICRA A4
M.G.M Springs Pvt Ltd                   ST - Non-fund based   ICRA A4      32.5    Reaffirmed
Pawar Patkar Constructions              Non-FBL               ICRA A3      430     Assigned
Pvt. Ltd.
Paramount International                 FB                    ICRA D       108     Downgraded
                                                                                   from ICRA A4
Pricol Ltd (Erstwhile Pricol            ST non-fund based     ICRA A3+     210     revised from
Pune Ltd)                                                                          ICRA A2
Pricol Ltd (Erstwhile Pricol            Short -term non-fund  ICRA A3+     -       revised from
Pune Ltd)                               based (sublimit)                           ICRA A2
Tcg Lifesciences Pvt Ltd                ST - FB Fac           ICRA A1      700     Assigned
Tcg Lifesciences Pvt Ltd                ST- NFB Fac           ICRA A1      60      Assigned
Valvoline Cummins Pvt Ltd               ST Non-FBL 10.00      ICRA A1+     100     Reaffirmed
                                        Proposed TL
*The Long Term Fund based Limits are interchangeable with Short Term Non-Fund based Limits.


LONG TERM RATINGS:
-------------------
Bangalore Institute Of                  LT Fund based TL      ICRA D       99.5    Revised from
Gastroenterology Pvt Ltd                                                           ICRA B
continues to remain in Issuer Not Cooperating category
Bangalore Institute Of                  LT Unallocated        ICRA D       0.5     Revised from
Gastroenterology Pvt Ltd                                                           ICRA B
continues to remain in Issuer Not Cooperating category
Barasat Municipality                    Issuer Rating         ICRA BB      -       Withdrawn
Barque Hotels Pvt Ltd                   LT TL                 ICRA BB-     3000    revised from
                                                                                   ICRA BBB
Durgapur Municipal Corporation          Issuer Rating         ICRA BBB-    -       Withdrawn
Haldia Petrochemicals Ltd               LT Limits- TL         ICRA AA      30313   Reaffirmed
Haldia Petrochemicals Ltd               LT Limits-FB          ICRA AA      3190    Reaffirmed
Haldia Petrochemicals Ltd               Proposed NCD ProgrammeICRA AA      10000   Reaffirmed
Haldia Petrochemicals Ltd               Issuer Rating         ICRA AA      -       Reaffirmed
Haldia Petrochemicals Ltd               LT/ST Unallocated     ICRA AA      30207   Reaffirmed
                                                              /ICRA A1+
Hindustan Urvarak & Rasayan             TL                    ICRA A       158295.3Reaffirmed
Ltd.
Hindustan Urvarak & Rasayan             Non-FB limits#        ICRA A       -       Reaffirmed
Ltd.
# Note: The non-fund-based limits are fully interchangeable with the term loans with total
borrowing capped at Rs. 15,829.53 crore. 
Kasturchand Fertilizers Pvt.            Bk Fac                ICRA B+ /    105
Ltd.                                                          ICRA A4
Issuer Not Cooperating
M.G.M Springs Pvt Ltd                   LT - Fund based/CC    ICRA BB-     52      Reaffirmed
M.G.M Springs Pvt Ltd                   LT – Unallocated      ICRA BB-     15.5    Reaffirmed
Mahesh Mercandise Pvt Ltd               FBL                   ICRA D       100     revised from
                                                                                   ICRA BB-
Muthoot Capital Services Ltd            PTC Series A1         -            -       Withdrawn
-Bran Cv Ifmr Capital 2017
Muthoot Capital Services Ltd            PTC Series A2         -            -       Withdrawn
-Bran Cv Ifmr Capital 2017
Muthoot Capital Services Ltd            PTC Series A1         -            -       Withdrawn
-Turaco Ifmr Capital 2017
Muthoot Capital Services Ltd            PTC Series A2         -            -       Withdrawn
-Turaco Ifmr Capital 2017
Mytrah Vayu (Sabarmati) Pvt Ltd         Fund based-TL         ICRA BB      14520   Reaffirmed
Pawar Patkar Constructions              FB limits             ICRA BBB-    140     Assigned
Pvt. Ltd.
Pawar Patkar Constructions              Unallocated           ICRA BBB-    30      Assigned
Pvt. Ltd.
Pioneer Urban Land Amp;                 Non-fund Based        ICRA BB+@    500     Downgraded
Infrastructure Ltd                                                                 from ICRA
                                                                                   BBB@
rating continues to be on watch with negative implications
Pricol Ltd (Erstwhile Pricol            TL                    ICRA BBB     1482.6  revised from
Pune Ltd)                                                                          ICRA BBB+
Pricol Ltd (Erstwhile Pricol            LT FB                 ICRA BBB     1450    revised from
Pune Ltd)                                                                          ICRA BBB+
Pricol Ltd (Erstwhile Pricol            LT unallocated        ICRA BBB     7.4     revised from
Pune Ltd)                                                                          ICRA BBB+
Ram Foods Products Pvt Ltd              LT, Fund based – CC   ICRA BB-     90      Withdrawn
                                        Limits
Issuer Not Cooperating
Taegutec India Pvt Ltd                  Fund based-LT/ST      ICRA AA      230     Withdrawn
                                                              /ICRA A1+
Tcg Lifesciences Pvt Ltd                TL                    ICRA A       444.8   Assigned
Tcg Lifesciences Pvt Ltd                LT - FB Fac**         ICRA A       100     Assigned
**sub-limit of short-term fund-based facilities
Valvoline Cummins Pvt Ltd               LT FBL/Short 18 Term  ICRA AA+     180     Reaffirmed
                                        Non-FBL*
*The Long Term Fund based Limits are interchangeable with Short Term Non-Fund based Limits. 

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