April 20, 2018 / 10:36 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Apr 20

 (Repeating to add more ratings.)
   Apr 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 19, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP programme          ICRA A1+     120000  Assigned
Cargill Global Trading India            Fund Based/Non-FB Fac ICRA A1+     700     Withdrawn
Pvt Ltd
Cargill Global Trading India            Proposed cash-backed  ICRA A1+     2000    Withdrawn
Pvt Ltd                                 letters of credit
Kali Aerated Water Works Pvt            ST, Interchangeable*  ICRA A3              Reaffirmed
Ltd
* Sub-limit of long-term facilities
Klassic Wheels Pvt Ltd                  ST – Non- Fund Based  ICRA A3+     259.3   -
Review Process is underway
L & T Finance Ltd (Erstwhile           CP Programme (IPO     ICRA A1+             Withdrawn
Family Credit Ltd)                      financing)
L & T Finance Ltd (Erstwhile           CP Programme          ICRA A1+     185000  outstanding
Family Credit Ltd)
L & T Infrastructure Finance           CP programme (IPO     ICRA A1+             Withdrawn
Co. Ltd                                 financing)
L & T Infrastructure Finance           CP Programme          ICRA A1+     110000  outstanding
Co. Ltd
Minda Industries Ltd                    Non-FBL               ICRA A1+     370     -
Minda Industries Ltd                    CP programme          ICRA A1+     300     -
Narain  &  Co.                         Non-FBL               ICRA A4      300     -
(Issuer not cooperating)
Pacific Industries Ltd                  ST non-fund based     ICRA A4      60      -
(Issuer not cooperating)
Ranger Apparel Export Pvt Ltd           Fund based – Packing  ICRA A2+     125     Assigned
                                        Credit
Ranger Apparel Export Pvt Ltd           Non-Fund              ICRA A2+             Assigned
                                        based-Working Capital
                                        Fac
Uniflex Industries Pvt Ltd              ST nonfund based      ICRA A4      50      -
(Issuer not cooperating)

LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA(hyb) 7000    Outstanding
                                        programme
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     160000  Outstanding
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AA+     15000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     25000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA AA+ /   196230  Outstanding
                                                              ICRA A1+;
Bank Of Maharashtra                     Basel III Compliant   ICRA A-(hyb) -       Withdrawn
                                        Tier I Bonds
Bank Of Maharashtra                     Basel III Compliant   ICRA A-(hyb) 10000   Outstanding
                                        Tier II Bonds
                                        Programme
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      4000    Outstanding
                                        Upper Tier II Bonds
Bank Of Maharashtra                     Basel II Compliant    ICRA A+      700     Outstanding
                                        Innovative Perpetual
                                        Debt Instrument
Bank Of Maharashtra                     Basel II Compliant    ICRA AA-     11300   Outstanding
                                        Lower Tier II Bonds     
Cargill Global Trading India            Fund Based/Non-FB Fac ICRA AA+             Withdrawn
Pvt Ltd                                 (part of the regional (SO) /ICRA
                                        umbrella Fac for Asia A1+;
Ds Chewing Products Llp                 LT FB Bk facility     ICRA A+      100     Reaffirmed
                                        Instrume nt type
Gmr Aerospace Engineering Ltd           Fund based – TL       ICRA AA(SO)          Withdrawn
Gmr Aerospace Engineering Ltd           Unallocated Limit     ICRA AA(SO)          Withdrawn
Gmr Aerospace Engineering Ltd           NCDs (NCD)            ICRA AA(SO)  1000    Outstanding
Grap Realty Pvt Ltd                     Bk Fac                ICRA BB-     100     -
Review Process is underway
Hdfc Asset Management Co. Ltd           HDFC Capital          -            -       Reaffirmed
                                        Protection
                                        Oriented Fund
                                        Series III – 
                                        (Plan 2 and Plan 3)   
Jasper Auto Services Pvt Ltd            Fund based-TL                      600     Withdrawn
K.R.S. And Jain Associates              Bk Loan               ICRA B/ICRA  100     -
                                                              A4
Reason for delay in carrying out periodic review - Issuer delayed in giving information
Kali Aerated Water Works Pvt            LT, TL                ICRA BBB-    100     Reaffirmed
Ltd
Kali Aerated Water Works Pvt            LT, FB Fac            ICRA BBB-    70      Reaffirmed
Ltd
Kalis Sparkling Water (Pvt) Ltd         LT, TL                ICRA BBB-    560.8   Reaffirmed
Kalis Sparkling Water (Pvt) Ltd         LT, FB Fac            ICRA BBB-    50      Reaffirmed
Kavan Cotton Pvt Ltd                    Fund based-TL         ICRA D*      15      Rating moved
                                                                                   to the
                                                                                   (Issuer not
                                                                                   cooperating)’
                                                                                    category
*Issuer did not co-operate; based on best available information.
Kavan Cotton Pvt Ltd                    Fund based-CC         ICRA D*      400     Rating moved
                                                                                   to the
                                                                                   ‘(Issuer not
                                                                                   cooperating)’
                                                                                    category
*Issuer did not co-operate; based on best available information.
Klassic Wheels Pvt Ltd                  LT – Fund based       ICRA BBB     179.3   -
Review Process is underway
Klassic Wheels Pvt Ltd                  LT – Proposed loan    ICRA BBB     50      -
Review Process is underway
L & T Finance Ltd (Erstwhile            Perpetual Debt        ICRA AA      6000    outstanding
Family Credit Ltd)                      Programme
L & T Finance Ltd (Erstwhile            NCD Programme         ICRA AA+     65190   outstanding
Family Credit Ltd)
L & T Finance Ltd (Erstwhile            NCD Programme (Public ICRA AA+     6817    outstanding
Family Credit Ltd)                      Issuance)
L & T Finance Ltd (Erstwhile            Subordinated Debt     ICRA AA+     13250   outstanding
Family Credit Ltd)                      Programme
L & T Infrastructure Finance            Perpetual Debt        ICRA AA      4000    outstanding
Co. Ltd                                 Programme
L & T Infrastructure Finance            NCD Programme         ICRA AA+     60340   outstanding
Co. Ltd
L & T Infrastructure Finance            NCD (Infra Bonds)     ICRA AA+     16650.3 outstanding
Co. Ltd                                 Programme
L & T Infrastructure Finance            Subordinated Debt     ICRA AA+     17000   outstanding
Co. Ltd                                 Programme
L & T Infrastructure Finance            Bk Lines              ICRA AA+     70000   outstanding
Co. Ltd                                                       /ICRA A1+
Mg Well Solutions Project               Bk Loans              ICRA C/ICRA          -
International Pvt Ltd                                         A4
(Issuer not cooperating)
Minda Industries Ltd                    Unallocated Limits    ICRA AA      119     -
Minda Industries Ltd                    TL                    ICRA AA      96      -
Minda Industries Ltd                    FBL – CC              ICRA AA      985     -
Narain  &  Co.                          FB Limits             ICRA BB-     500     -
(Issuer not cooperating)
National Insurance Co. Ltd              Subordinated Debt     ICRA AA+     8950    Reaffirmed
                                        Programme
New Bombay Paper Mills Pvt Ltd          Bk Loans              ICRA BB-     250     -
Review Process is underway
Nezone Industries Ltd                   Bk Fac                ICRA BB /    299     -
                                                              ICRA A4
Review Process is underway
Odyssey Motors Pvt Ltd                  Bk Fac                ICRA BBB-    180     -
(Issuer not cooperating)
Pacific Industries Ltd                  LT fund based         ICRA BB      147.5   -
(Issuer not cooperating)
South Central Railway                   CC Fac                ICRA BBB+    750     Assigned
Employees’ Co-Operative Credit
Society Ltd
South Central Railway                   TL                    ICRA BBB+    750     Assigned
Employees’ Co-Operative Credit
Society Ltd
South Central Railway                   Unallocated Bk lines  ICRA BBB+    600     Assigned
Employees’ Co-Operative Credit
Society Ltd
Teekay Marines Pvt Ltd                  Bk Fac                ICRA B /     148     -
                                                              ICRA A4
(Issuer not cooperating)
Uniflex Industries Pvt Ltd              LT fund based         ICRA B+      50      -
(Issuer not cooperating)
Northern Arc Capital Ltd                PTC Series A2         ICRA D(SO)   56.2    Downgraded
(Erstwhile Ifmr Capital                                                            from ICRA
Finance Ltd)                                                                       B+(SO)
--------------------------------------------------------------------------------------------
$: 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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