April 30, 2018 / 11:13 AM / 7 months ago

RPT-ICRA ratings for Indian debt instruments-Apr 30

 (Repeating to add more ratings.)
    Apr 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 27, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Fashion And                CP Programme          ICRA A1+     12500   Re-affirmed
Retail Ltd
Alm Food Products Ltd                   ST FBL                ICRA A4+     1070    -
(Reason for delay in carrying out periodic review:-Review Under Process)
Cholamandalam Investment And            CP                    ICRA A1+     60000   Reaffirmed
Ferromet Steels Pvt Ltd                 ST, nonFB Fac         ICRA D       40      -
(Issuer Not Cooperating)
Finance Co. Ltd
Creditaccess Grameen Ltd                CP                    ICRA A1+     2000    Revised from
                                                                                   ICRA A1
Golden Star Facilities And              ST fund based         ICRA A1+     -240    Assigned
Services Pvt Ltd                        (sublimit)            (SO)
Hll Infra Tech Services Ltd             Non-fund based-ST     ICRA A2+(SO) 210     Assigned
Icon Granito Pvt. Ltd.                  Non-fund based – BG   ICRA A4+     21.5    -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Icon Granito Pvt. Ltd.                  Non-fund based – LOC  ICRA A4+     25      -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Jagatjit Industries Ltd                 ST fund based Bk Fac  ICRA A4      7.2     Withdrawn
Jagatjit Industries Ltd                 ST non-fund based Bk  ICRA A4      250     Withdrawn
                                        Fac
K.K. Builders                           ST- Non- Fund Based   ICRA A4      350     ISSUER NOT
                                        Facility                                   COOPERATING*
Ksb Mil Controls Ltd                    ST;Non- fund based LOCICRA A1+     50      Reaffirmed
(Erstwhile Mil Controls Ltd)
Mil Steel And Power Ltd                 ST, Non-FB Fac        ICRA D       20      -
Marathwada Auto Cluster                 Non- fund based – LOC ICRA A4      85      Rating moved
                                                              ISSUER NOT           to the
                                                              COOPERATING*         ‘Issuer Not
Cooperating’ category
Psa Construction                        Non-Fund basedBG      ICRA A4+     120     -
Rating moved to the ‘Issuer Not Cooperating’ category
S.V.S Classic Foods                     ST – Fund Based       ICRA A4      13.5    -
(Issuer Not Cooperating)
S.V.S Classic Foods                     ST – Non Fund Based   ICRA A4      1       -
(Issuer Not Cooperating)
Sandfits Foundries Pvt Ltd              ST non-fund based     ICRA A2+     15      Reaffirmed
Santosh Enterprises                     Fund based Bills 4.00 ICRA A4      40      -
                                        discounting limits
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shiva Structures Pvt Ltd                Non Fund Based – BG   ICRA A4      90      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Surya Roshni Ltd                        CP Programme          ICRA A1(SO)@ 200     outstanding
@ Under rating watch with negative implications
Surya Roshni Ltd                        CP Programme          ICRA A1+(SO) 250     Assigned
Surya Roshni Ltd                        CP Programme          ICRA A1+(SO) 3050    outstanding
Travancore Cocotuft Pvt Ltd             ST –Fund Based        ICRA A4+     240     -
(Issuer Not Cooperating)
Travancore Cocotuft Pvt Ltd             ST – Non Fund Based   ICRA A4+     25      -
(Issuer Not Cooperating)
Travancore Cocotuft Pvt Ltd             ST – Unallocated      ICRA A4+     2       -
(Issuer Not Cooperating)
Tvs Credit Services Ltd                 CP                    ICRA A1+     15000   Assigned
Vardhman Polytex Ltd                    ST non-FB Fac         ICRA D       500     -
Rating moved to the ‘Issuer Not Cooperating’ category
Zetek Castings Pvt Ltd                  ST, NonFB Fac         ICRA A4      15      -
(Issuer Not Cooperating)
House Of Anita Dongre Ltd               ST non FB limits FBL  ICRA A1+     0.2     Reaffirmed -
                                        (Sub-limit)
Laxmi Exports                           ST FB limits          ICRA A4      97.7    Withdrawn
Saiwin Ceramic Pvt Ltd                  BG                    ICRA A4      10      -
(Issuer Not Cooperating)
United Technomech Engineers             Fund based - Bill     ICRA A4      10      -
Pvt Ltd                                 Discounting
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
United Technomech Engineers             Non Fund Based – BG   ICRA A4      80      -
Pvt Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
    
LONG TERM RATINGS:
-------------------
Aditya Birla Fashion And                Long-TL               ICRA AA      304.9   Re-affirmed
Retail Ltd
Aditya Birla Fashion And                LT, FB / NonFB Fac    ICRA AA      11810   Re-affirmed
Retail Ltd
Aditya Birla Fashion And                LT, Unallocated       ICRA AA      385.1   Re-affirmed
Retail Ltd
Aditya Birla Fashion And                NCD Programme (NCD)   ICRA AA      12600   Re-affirmed
Retail Ltd
Alm Food Products Ltd                   LT FBL                ICRA BB      250     -
(Reason for delay in carrying out periodic review:-Review Under Process)
B.V.L. Exports Pvt Ltd                  Packing Credit        ICRA B       750     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
B.V.L. Exports Pvt Ltd                  CC                    ICRA B       500     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Belstar Investment And Finance          PTC Series A2         ICRA BBB(SO) 19.3    Reaffirmed
Pvt Ltd
Belstar Investment And Finance          PTC Series A1                      298     Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   A-(SO) to
ICRA AA-(SO)
Belstar Investment And Finance          PTC Series A2                      6.9     Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   BBB-(SO) to
ICRA A-(SO)
Belstar Investment And Finance          PTC Series A1                      219.8   Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   A(SO) to ICRA
A+(SO)
Cholamandalam Investment And            Long-TL from Bks      ICRA AA+     102136.6Upgraded
Finance Co. Ltd                                                                    from ICRA AA
Cholamandalam Investment And            FB Fac from Bks       ICRA AA+     40000   Upgraded
Finance Co. Ltd                                                                    from ICRA AA
                                                                                   / ICRA A1+
Cholamandalam Investment And            Sub-limit - Non-FBL   ICRA AA+     1000    Upgraded
Finance Co. Ltd                                                                    from ICRA AA
Cholamandalam Investment And            NCDs                  ICRA AA+     129682  Upgraded
Finance Co. Ltd                                                                    from ICRA AA
Cholamandalam Investment And            Subordinated          ICRA AA+     22950   Upgraded
Finance Co. Ltd                         Debentures                                 from ICRA AA
Clp Wind Farms (India) Pvt Ltd          NCDs                  ICRA AA      6000    Reaffirmed
Creditaccess Grameen Ltd                Bk Fac                ICRA A       20132.7 Reaffirmed
Creditaccess Grameen Ltd                NCD Programme         ICRA A       8870    Reaffirmed
Creditaccess Grameen Ltd                Sub-ordinated Debt    ICRA A       220     Reaffirmed
                                        programme
Ferromet Steels Pvt Ltd                 LT, TL                ICRA D       35.5    -
(Issuer Not Cooperating)
Ferromet Steels Pvt Ltd                 LT, fundbased Fac     ICRA D       250     -
(Issuer Not Cooperating)
Ferromet Steels Pvt Ltd                 LT, nonFB Fac         ICRA D       5       -
(Issuer Not Cooperating)
Golden Star Facilities And              LT fund based         ICRA AA-     240     Assigned
Services Pvt Ltd                                              (SO)
                                                              (Positive)
Gujarat Chemical Port Terminal          TL                    ICRA AA      1795.5  -
Co. Ltd
(Removed from ‘Issuer Not-cooperating’ category)
Hll Infra Tech Services Ltd             CC- LT                ICRA A(SO)   131.5   Assigned
Icon Granito Pvt. Ltd.                  Fund based - CC       ICRA BB+     140     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Icon Granito Pvt. Ltd.                  Fund based - TL       ICRA BB+     100.8   -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Jagatjit Industries Ltd                 LT fund based Bk      ICRA B-      792.8   Withdrawn
                                        Fac-CC
Jagatjit Industries Ltd                 LT fund based Bk      ICRA B-      951.6   Withdrawn
                                        Fac-TL
Jagatjit Industries Ltd                 Unallocated           ICRA B-      264     Withdrawn
K. K. Leisures Amp; Tourism             LT– TL                ICRA B-      142.7   ISSUER NOT
International Pvt Ltd                                                              COOPERATING*
K. K. Leisures Amp; Tourism             LT- Unallocated       ICRA B-      7.3     ISSUER NOT
International Pvt Ltd                                                              COOPERATING*
K.K. Builders                           LT– TL                ICRA B+      73.5    ISSUER NOT
                                                                                   COOPERATING*
K.K. Builders                           LT- Fund Based        ICRA B+      230     ISSUER NOT
                                        Facility                                   COOPERATING*
K.K. Builders                           LT/ ST- Unallocated   ICRA         6.5     ISSUER NOT
                                                              B+/ICRA A4           COOPERATING*
Kaveri Cotex Pvt Ltd                    Fund based - CC       ICRA B       140     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Kaveri Cotex Pvt Ltd                    Fund based – TL       ICRA B       2.8     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Kaveri Cotex Pvt Ltd                    Unallocated limits    ICRA B       4.7     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Ksb Mil Controls Ltd                    LT; Fund based -CC    ICRA AA      100     Reaffirmed
(Erstwhile Mil Controls Ltd)
Ksb Mil Controls Ltd                    LT;Non- fund based BG ICRA AA      500     Reaffirmed
(Erstwhile Mil Controls Ltd)
Lexus Motors Ltd                        Bk Fac                ICRA B+ /    1000    -
                                                              ICRA A4
(Reason for delay in carrying out periodic review:-Review Under Process)
Magppie Exports Pvt Ltd                 CC                    ICRA B       195     Reaffirmed
(Issuer Not Cooperating)
Marathwada Auto Cluster                 Fund based - TL       ICRA BB-     28.2    Rating moved
                                                              ISSUER NOT           to the
                                                              COOPERATING          ‘Issuer Not
Cooperating’ category
Mil Steel And Power Ltd                 LT, FB Fac            ICRA D       41      -
Mil Steel And Power Ltd                 LT, TL                ICRA D       105.5   -
Mil Steel And Power Ltd                 LT/ST unallocated Fac ICRA D       20.8    -
Northern Arc Capital Ltd                Aye Finance Private   Provisional  150     -
(Erstwhile Ifmr Capital                 Limited               rating of
Finance Ltd)                                                  ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Zen Lefin Private     Provisional  200     -
(Erstwhile Ifmr Capital                 Limited (Capital      rating of
Finance Ltd)                            Float)                ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Essel Finance         Provisional  100     -
(Erstwhile Ifmr Capital                 Business Loan Limited rating of
Finance Ltd)                                                  ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Ess Kay Fincorp       Provisional  100     -
(Erstwhile Ifmr Capital                 Limited               rating of
Finance Ltd)                                                  ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Kogta Financial       Provisional  150     -
(Erstwhile Ifmr Capital                 (India) Limited       rating of
Finance Ltd)                                                  ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Shri Ram Finance      Provisional  100     -
(Erstwhile Ifmr Capital                 Corporation Private   rating of
Finance Ltd)                            Limited               ICRA A-(SO)
confirmed as final
Northern Arc Capital Ltd                Western India         Provisional  50      -
(Erstwhile Ifmr Capital                 Transport Finance     rating of
Finance Ltd)                            Company Private LimiteICRA A-(SO)
confirmed as final
Nsn Reddy Rice Industry                 Unallocated Limits    ICRA BB      340     -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Orange Jaisalmer Wind Energy            TL                    ICRA A-      1236    Reaffirmed
Pvt Ltd
Orange Jaisalmer Wind Energy            CC                    ICRA A-      72      Reaffirmed
Pvt Ltd
Orange Jaisalmer Wind Energy            Unallocated           ICRA A-      142     Reaffirmed
Pvt Ltd
Power Cable Industries                  LT FB/CC              ICRA B       75      Withdrawn
Pramukh Copper Pvt Ltd                  CC                    ICRA D       50      -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Pramukh Copper Pvt Ltd                  TL                    ICRA D       17.5    -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Pramukh Copper Pvt Ltd                  LOC/Buyer’s Credit    ICRA D       50      -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Pramukh Copper Pvt Ltd                  BG                    ICRA D       10      -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Pramukh Copper Pvt Ltd                  Forward Contract      ICRA D       1       -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Pramukh Copper Pvt Ltd                  Unallocated Limits    ICRA D       21.5    -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Psa Construction                        Fund based- CC        ICRA BB      25      -
Rating moved to the ‘Issuer Not Cooperating’ category
Psa Construction                        Unallocated Limits    ICRA BB      70      -
                                                              /ICRA A4+
Rating moved to the ‘Issuer Not Cooperating’ category
Ramco Extrusion Pvt Ltd                 FB- Overdraft facilityICRA B+      110     -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ramco Extrusion Pvt Ltd                 TL                    ICRA B+      20      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rich Phytocare Pvt Ltd                  LT, TL                ICRA BB-     140     -
Rich Phytocare Pvt Ltd                  LT, unallocated       ICRA BB-     60      -
Rise On Group                           Fund based – TL       ICRA C       276     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
S.V.S Classic Foods                     LT –Fund Based CC     ICRA BB-     90      -
(Issuer Not Cooperating)
S.V.S Classic Foods                     LT – Interchangeable  ICRA BB-     -15     -
(Issuer Not Cooperating)
S.V.S Classic Foods                     LT - Unallocated      ICRA BB-     1       -
(Issuer Not Cooperating)
Sandfits Foundries Pvt Ltd              TL                    ICRA A-      100     Reaffirmed
Sandfits Foundries Pvt Ltd              LT fund based         ICRA A-      250     Reaffirmed
Santosh Enterprises                     Fund based CC         ICRA B       27.5    -
                                        limits
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Santosh Enterprises                     Unallocated limits    ICRA B       2       -
                                        
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sharanamma Diggavi Memorial             LT –Fund Based TL     ICRA D       62.9    -
Educational Trust
(Issuer Not Cooperating)
Sharanamma Diggavi Memorial             LT – Unallocated      ICRA D       17.1    -
Educational Trust
(Issuer Not Cooperating)
Shiva Structures Pvt Ltd                Fund Based – TL       ICRA B-      60      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shiva Structures Pvt Ltd                Fund Based – CC       ICRA B-      75      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Simon India Ltd                         Non-fund based Bk Fac ICRA BBB     500     Reaffirmed
Sudha Bio Power Pvt Ltd                 CC                    ICRA BB+     65      Assigned
Sudha Bio Power Pvt Ltd                 TL                    ICRA BB+     180     Assigned
Sudha Bio Power Pvt Ltd                 Unallocated Limits    ICRA BB+     15      Assigned
The Winning Edge Agro Products          Fund based – CC       ICRA B+      60      -
(ISSUER NOT COOPERATING*)
The Winning Edge Agro Products          Fund based – TL       ICRA B+      35.5    -
(ISSUER NOT COOPERATING*)
The Winning Edge Agro Products          Unallocated Limits    ICRA B+      2       -
(ISSUER NOT COOPERATING*)
Truevalue Engineering Pvt Ltd           Bk Loans              ICRA B+/ICR  405.5   -
                                                              A A4
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Tvs Credit Services Ltd                 FB TL                 ICRA A+      21460   outstanding
Uni Medicolabs                          LT fund based         ICRA BB+     250     -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
United Bank Of India                    Basel II Compliant    ICRA A+      2500    -
                                        Lower Tier II Bonds
                                        Instrum ent type
(Reason for delay in carrying out periodic review:-Review Under Process)
Vardhman Polytex Ltd                    LT FB Fac – CC        ICRA D       1593.1  -
Rating moved to the ‘Issuer Not Cooperating’ category
Vardhman Polytex Ltd                    LT FB Fac – TL        ICRA D       2323.1  -
Rating moved to the ‘Issuer Not Cooperating’ category
Vardhman Polytex Ltd                    LT FB Fac -           ICRA D       723.8   -
                                        Unallocated
Rating moved to the ‘Issuer Not Cooperating’ category
Vrl Logistics Ltd                       Fund Based - CC       ICRA A       1239.5  Upgraded
                                                                                   from ICRA A-
Vrl Logistics Ltd                       Fund Based - TL       ICRA A       84.1    Upgraded
                                                                                   from ICRA A-
Zetek Castings Pvt Ltd                  LT, FB Fac            ICRA BB      53.5    -
(Issuer Not Cooperating)
Zetek Castings Pvt Ltd                  LT, TL                ICRA BB      60      -
(Issuer Not Cooperating)
House Of Anita Dongre Ltd               FBL (Sub-limit)       -            -       -
House Of Anita Dongre Ltd               LT FB limits          ICRA A+      460     Reaffirmed
House Of Anita Dongre Ltd               LT/ST Unallocated     ICRA A+ /    89.8    Reaffirmed
                                                              A1+
Indus Mega Food Park Pvt. Ltd.          Unallocated           ICRA D       150     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Lasco Lifestlye Ltd                     Fund based - CC       ICRA D       300     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Saiwin Ceramic Pvt Ltd                  Term - Loan           ICRA B       72.7    -
(Issuer Not Cooperating)
Saiwin Ceramic Pvt Ltd                  CC                    ICRA B       40      -
(Issuer Not Cooperating)
United Technomech Engineers             Fund based - CC       ICRA BB      15      -
Pvt Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)      
--------------------------------------------------------------------------------------------
$: 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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