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RPT-ICRA ratings for Indian debt instruments-Aug 17
August 17, 2017 / 9:56 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Aug 17

 (Repeating to add more ratings)
    Aug 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 16, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Baroda Agro Chemicals Ltd               Non-Fund based Inland ICRA A4      15      -
                                        LC
ISSUER NOT COOPERATING
Gujarat Narmada Valley                  Non FB Fac            ICRA A1+     9000    Reaffirmed
Fertilizers & Chemicalsltd
Gujarat Narmada Valley                  CP Programme          ICRA A1+     10000   Reaffirmed
Fertilizers & Chemicalsltd
K.C.Toolroom Pvt Ltd                    ST, nonfund based     ICRA A4      3       -
                                        working capital Fac
(enhanced from 0.15 crore)
K.R. Anand                              Fund based – Bill     ICRA A4      5       Assigned
                                        Discounting
K.R. Anand                              Non FB – BG           ICRA A4      510     Assigned
K.R. Anand                              Non FB - LOC          ICRA A4      5       Assigned
Krishna Enterprises                     NFBL                  ICRA A4      230     Assigned
Paradeep Phosphate Ltd                  Non-fund based ST Fac ICRA A2+     23000   Reaffirmed
Paradeep Phosphate Ltd                  Non-fund based, ST    ICRA A2+     2000    Reaffirmed
                                        unallocated
Pmr Construction Company                ST Non-FB Fac         ICRA A4      150     -
ISSUER NOT COOPERATING
Sagar Motors                            Fund based – e-DFS    ICRA A4      50      Withdrawn
Shri Ambika Metaliks Pvt Ltd            Non FB – BG           ICRA A4+     10      Withdrawn
Stylin Sanitarywares                    BG                    ICRA A4      3.2     -
Trimurthi Hitech Company Pvt            ST Non FB Fac         ICRA A4      27.5    -
Ltd
ISSUER NOT COOPERATING
Zuari Agro Chemicals Ltd                ST non-FBL            ICRA A2+     26000   Reaffirmed
Zuari Agro Chemicals Ltd                ST unallocated        ICRA A2+     1000    Reaffirmed
Zuari Fertilisers & Chemicals           Non-fund based, ST FacICRA A3      30      Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Aegis Business Ltd                      FB – External         ICRA B-      72      Upgraded
                                        Commercial Borrowing                       from ICRA D
                                        (TL)
Aegis Business Ltd                      Unallocated Limits    ICRA B- /    18      Upgraded
                                                              ICRA A4              from ICRA D
Assetz Whitefield Homes Pvt Ltd         NCDs                  ICRA BB+(SO) 1650    Assigned
Avadh Infra                             LT fund based – TL    ICRA B+      500     Withdrawn
Aziz Enterprises                        LT-FB Limits          ICRA B       80      -
ISSUER NOT COOPERATING
Baroda Agro Chemicals Ltd               Fund Based- CC        ICRA B+      140     -
ISSUER NOT COOPERATING
Baroda Agro Chemicals Ltd               Fund Based-TL         ICRA B+      103     -
ISSUER NOT COOPERATING
Basantdevi Charitable Trust             Bk Fac                ICRA BB      150     Issuer not
                                                                                   co-operating
Fivebros Forgings Pvt. Ltd.             BLR                   ICRA BB+ /   125     Issuer not
                                                              ICRA A4+             co-operating
G3 Motors Ltd                           BLR                   ICRA BB /    500     Issuer not
                                                              ICRA A4+             co-operating
Gujarat Narmada Valley                  TL                    ICRA AA      12630   Upgraded
Fertilizers & Chemicals Ltd                                                        from ICRA AA-
Reduced to Rs 792 crore
Gujarat Narmada Valley                  FB Fac                ICRA AA      15000   Upgraded
Fertilizers & Chemicalsltd                                                         from ICRA AA-
Honer Developers Pvt. Ltd.              FB – CC               ICRA BB      650     Upgraded
                                                                                   from ICRA BB-
Honer Developers Pvt. Ltd.              Unallocated           ICRA BB      150     Upgraded
                                                                                   from ICRA BB-
K.R. Anand                              FB – CC               ICRA BB-     50      outstanding
K.R. Anand                              FB – CC               ICRA BB-     57.5    Assigned
K.R. Anand                              FB – Overdraft        ICRA BB-     37      Assigned
Kakinada Sez Ltd                        LT: FB Fac            ICRA D       2125    Assigned /
                                                                                   Outstanding
(enhanced from Rs. 62.50 crore)
Kallam Agro Products & Oil (P)          FB CC                 ICRA BB+     430     -
Ltd
ISSUER NOT COOPERATING
Kallam Agro Products & Oil (P)          FB TL                 ICRA BB+     65      -
Ltd
ISSUER NOT COOPERATING
Kallam Agro Products & Oil (P)          Unallocated           ICRA BB+     5       -
Ltd
ISSUER NOT COOPERATING
K.C.Toolroom Pvt Ltd                    LT, fundbased working ICRA BB-     135.6   -
                                        capital Fac
(enhanced from Rs.11.06 crore)
K.C.Toolroom Pvt Ltd                    Long-TL               ICRA BB-     8       -
(enhanced from Rs.0.45 crore)
K.C.Toolroom Pvt Ltd                    LT loans (proposed)   ICRA BB-     30      -
Krishna Enterprises                     FBL                   ICRA B+      16      Assigned
Krishna Enterprises                     Unallocated Limits    ICRA B+ /    4       Assigned
                                                              ICRA A4
Leapfrog Engineering Services           LT – FB               ICRA C       60      -
Pvt Ltd
ISSUER NOT COOPERATING
Leapfrog Engineering Services           LT – Non FB           ICRA C       40      -
Pvt Ltd
ISSUER NOT COOPERATING
Mini Diamonds (India) Ltd               Bk Loan               ICRA D       90      Issuer not
                                                                                   co-operating
Nimra Educational Society               FBCC                  ICRA D       40      -
ISSUER NOT COOPERATING
Nimra Educational Society               FBTL                  ICRA D       350     -
ISSUER NOT COOPERATING
Paradeep Phosphate Ltd                  FB – LT Fac           ICRA BBB+    10000   Reaffirmed
Pmr Construction Company                LT FB- CC             ICRA B+      50      -
ISSUER NOT COOPERATING
R.K. Agro Industries                    BLR                   ICRA B/ICRA  61.8    -
                                                              A4
Real Growth Commercial                  FB Limits             ICRA D       210     revised from
Enterprises Ltd                                                                    ICRA B+
Real Growth Commercial                  Non-FBL               ICRA D       40      revised from
Enterprises Ltd                                                                    ICRA B+
Sagar Motors                            FB – TL               ICRA BB-     40      Withdrawn
Sagar Motors                            Unallocated           ICRA BB-     10      Withdrawn
Shri Ambika Metaliks Pvt Ltd            FB – CC               ICRA BB+     140     Withdrawn
Srinivasa Educational Society           TL                    ICRA B       36.2    -
Srinivasa Educational Society           LTFB                  ICRA B       7       -
ISSUER NOT COOPERATING
Srinivasa Educational Society           LT unallocated        ICRA B       56.8    -
ISSUER NOT COOPERATING
Spectra Auto                            BLR                   ICRA BB-     100     Issuer not
                                                                                   co-operating
Stylin Sanitarywares                    CC                    ICRA B       12.5    -
Stylin Sanitarywares                    TL                    ICRA B       50      -
Trimurthi Hitech Company Pvt            LT FB Fac             ICRA C+      47.5    -
Ltd
ISSUER NOT COOPERATING
Trimurthi Hitech Company Pvt            LT/ST Unallocated     ICRA C+      25      -
Ltd
ISSUER NOT COOPERATING
Universal Freight Management            BLR                   ICRA BB-     250     Issuer not
India Pvt Ltd                                                                      co-operating
Voora Housing Pvt Ltd                   BLR                   ICRA BB-     70      -
Zuari Agro Chemicals Ltd                LT FBL                ICRA BBB+    12000   Reaffirmed
Zuari Agro Chemicals Ltd                LT un-allocated limitsICRA BBB+    3000    Reaffirmed
Zuari Agro Chemicals Ltd                LT/ST unallocated     ICRA BBB+ /  150     Reaffirmed
                                        limits                ICRA A2+
Zuari Fertilisers & Chemicals           TL                    ICRA BBB-    300     Reaffirmed
Ltd
Zuari Fertilisers & Chemicals           Fund based LT Fac     ICRA BBB-    170     Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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