April 25, 2018 / 10:47 AM / in 7 months

RPT-ICRA ratings for Indian debt instruments-Apr 25

 (Repeating to add additional ratings as of April 24, 2018)
   Apr 25 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 24, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ab Sugars Ltd                           LOC/ BG               ICRA A3      300     Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Darling Digital World Pvt Ltd           Fund Based-ST         ICRA A4+     57.5    Assigned
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     30000   Outstanding
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     45000   Outstanding
Ecl Finance Ltd                         ST NCD 100 Programme  ICRA A1+     1000    Outstanding
                                        Sl. FB Limits
Ecl Finance Ltd                         ST Principal          PP-MLD       9000    Outstanding
                                        Protected Market 900  ICRA A1+
                                        Linked Debenture Programme
Kent Chemicals Pvt. Ltd.                LC                    ICRA A4      80      Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Kish Exports Ltd                        Non- FBL              ICRA A4      10      Rating
                                                                                   continues to
                                                                                   remain in 
                                                                                   the ‘Issuer 
                                                                                   Not
                                                                                   Cooperating’
                                                                                   category
Parisons Agrotech Pvt Ltd               ST – NonFund Based    ICRA A4+     180     Issuer
                                                                                   delayed in
                                                                                   sharing
                                                                                   information
Precious Jewels Corporation             FB Limits             ICRA A4+     150     Reason for
                                                                                   delay in
                                                                                   carrying 
                                                                                   out periodic 
                                                                                   review: 
                                                                                   Review 
                                                                                   Process 
                                                                                   in underway
Precious Jewels Corporation             Non-FBL               ICRA A4+     0.5     Reason for
                                                                                   delay in
                                                                                   carrying 
                                                                                   out periodic 
                                                                                   review: 
                                                                                   Review 
                                                                                   Process 
                                                                                   in underway
Sharavathy Conductors Pvt Ltd           Non Fund Based LOC    ICRA A3      400     Outstanding
Sharavathy Conductors Pvt Ltd           Non Fund Based BG     ICRA A3      520     Outstanding
Shriram Transport Finance Co.           PTC Series A1         ICRA A1+     805.2   Withdrawn
Ltd                                                           (SO)
Shriram Transport Finance Co.           PTC Series A2         ICRA A1+     850.3   Withdrawn
Ltd                                                           (SO)
Uss Exim Pvt Ltd                        ST Non-FBL            ICRA A4      90      Withdrawn


LONG TERM RATINGS:
-------------------
Ab Sugars Ltd                           TL                    ICRA BBB-    259.7   Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Ab Sugars Ltd                           CC Limit              ICRA BBB-    1100    Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Ab Sugars Ltd                           Unallocated FB Limit  ICRA BBB-    772.2   Rating moved
                                        Non-FBL                                    to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Casa Tiles Pvt Ltd                      BLR                   ICRA BB     289.2   -
                                                              (SO) / ICRA
                                                              A4 (SO)
Review process is underway
Darling Digital World Pvt Ltd           CC                    ICRA BB+     117.5   Assigned/
                                                                                   Outstanding
Darling Digital World Pvt Ltd           TL                    ICRA BB+     5.7     Assigned
Darling Digital World Pvt Ltd           Unallocated-LT/ST     ICRA BB+ /   6.3     Assigned
                                                              ICRA A4+
Ecl Finance Ltd                         Retail NCD Programme  ICRA AA      20000   Assigned
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA      110000  Outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   23500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Evergreen Veneers Pvt Ltd               Bk loan ratings       ICRA B/ICRA          -
                                                              A4
Fusion Microfinance (Pvt.) Ltd.         PTC Series A1         ICRA A+(SO)  256.4   Final Rating
Fusion Microfinance (Pvt.) Ltd.         PTC Series A2         ICRA         19.3    Final Rating
                                                              BBB+(SO)
Global Dent Aids Pvt. Ltd.              FB Limits             ICRA BBB     72.3    ISSUER NOT
                                                                                   COOPERATING
Global Dent Aids Pvt. Ltd.              LT Unallocated FB TL  ICRA BBB     7.7     ISSUER NOT
                                        FB Limits                                  COOPERATING
Kalyan Cotton Industries                LT FBL                ICRA B       61.1    -
Kent Chemicals Pvt. Ltd.                CC                    ICRA BB-     50      Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Kent Chemicals Pvt. Ltd.                SLC                   ICRA BB-     19.5    Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Kent Chemicals Pvt. Ltd.                TL Non-FBL            ICRA BB-     5       Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating’
                                                                                   category
Kish Exports Ltd                        FBL                   ICRA B       100     Rating
                                                                                   continues to
                                                                                   remain in 
                                                                                   the 
                                                                                   Issuer 
                                                                                   Not 
                                                                                   Cooperating’
                                                                                   category
Midas Agro Foods Pvt Ltd                FB Limits             ICRA B       97.6    Rating moved
                                                                                   to the
                                                                                   Issuer Not
                                                                                   Cooperating
                                                                                   category
Nuway Organic Naturals India            Fund Based- CC        ICRA D       0       ISSUER NOT
Ltd                                                                                COOPERATING
Nuway Organic Naturals India            Fund Based- TL        ICRA D       180     ISSUER NOT
Ltd                                                                                COOPERATING
Nuway Organic Naturals India            Unallocated Limits    ICRA D       60      ISSUER NOT
Ltd                                                                                COOPERATING
Oscar Ceramics                          BLR                   ICRA BB- /   72.6    -
                                                              ICRA A4
Issuer not cooperating
Parisons Agrotech Pvt Ltd               LT – FundBased        ICRA BB+     30      Issuer
                                                                                   delayed in
                                                                                   sharing 
                                                                                   information
Ra International                        Issuer Rating         ICRA BBB     -       Assigned
Rama Paper Mills Ltd                    Fund Based- CC        ICRA D       0       ISSUER NOT
                                                                                   COOPERATING
Rama Paper Mills Ltd                    Fund Based- TL        ICRA D       538.1   ISSUER NOT
                                                                                   COOPERATING
Rameshwar Industries                    FBL                   ICRA B       76.7    ISSUER NOT
                                                                                   COOPERATING
Rameshwar Industries                    Unallocated limits    ICRA B       10.8    ISSUER NOT
                                                                                   COOPERATING
Rotostat Services Pvt Ltd               FB - CC               ICRA BB      85      Rating moved
                                                                                   to the
                                                                                   Issuer Not 
                                                                                   Cooperating
                                                                                   category
Rotostat Services Pvt Ltd               Non-FB Limits         ICRA BB      35      Rating moved
                                                                                   to the
                                                                                   Issuer 
                                                                                   Not
                                                                                   Cooperating’
                                                                                   category
Saileela Processors Pvt Ltd             Fund Based- CC        ICRA BB-     150     ISSUER NOT
(Erstwhile Suzuki Synthetics                                                       COOPERATING
Pvt Ltd)
Saileela Processors Pvt Ltd             Fund Based- TL        ICRA BB-     110     ISSUER NOT
(Erstwhile Suzuki Synthetics                                                       COOPERATING
Pvt Ltd)
Sharavathy Conductors Pvt Ltd           FB TL                 ICRA BBB-    8.3     Assigned/
                                                                                   Outstanding
Sharavathy Conductors Pvt Ltd           FB Working Capital FacICRA BBB-    104.5   Outstanding
Sharavathy Conductors Pvt Ltd           Unallocated           ICRA BBB-    1.7     Assigned/
                                                                                   Outstanding
Shilpi Cable Technologies Ltd           NCD (NCD) programme   ICRA D       270     Downgraded
                                                                                   from ICRA C
                                                                                   and continues
                                                                                   to remain 
                                                                                   in the 
                                                                                   Issuer Not
                                                                                   Cooperating
                                                                                   category
Sudhamsu Exim Pvt Ltd                   Bk loan Ratings       ICRA         150     -
                                                              B+/ICRA A4
Taegutec India Pvt Ltd                  LT / ST - FBL         ICRA AA- /   230     Reason for
                                                              ICRA A1+             delay in
                                                                                   carrying 
                                                                                   out periodic 
                                                                                   review: 
                                                                                   Review 
                                                                                   process 
                                                                                   is underway
Uss Exim Pvt Ltd                        LT FB/CC              ICRA B       10      Withdrawn
Uss Exim Pvt Ltd                        Unallocated           ICRA B/A4            Withdrawn
V.R.K. Associates Pvt Ltd               Fund based-TL         ICRA D      80       Revised from
                                                                                   ICRA B and
                                                                                   moved to
                                                                                   Issuer Not 
                                                                                   Cooperating
Verona Granito Pvt Ltd                  BLR                   ICRA BB /   127.5    Review 
                                                              ICRA A4              process is
                                                                                   underway
Srinivasa Murugan Industries            Fund based- CC        ICRA B+      120     Assigned
Srinivasa Murugan Industries            Fund based- TL        ICRA B+      50      Assigned
Srinivasa Murugan Industries            Unallocated           ICRA B+/A4   30      Assigned
--------------------------------------------------------------------------------------------
$: 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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