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RPT-ICRA ratings for Indian debt instruments-Aug 22
August 22, 2017 / 10:53 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Aug 22

 (Repeating to add more Ratings)
    Aug 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 21, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd                     LOC                   ICRA A4     30       Reaffirmed
Agni Steels Pvt Ltd                     ST: Fund based        ICRA A3+    300      Upgraded
                                                                                   from
                                                                                   ICRA A3+
Agni Steels Pvt Ltd                     ST: Non-fund based    ICRA A3+    400      Upgraded
                                                                                   from ICRA A3
Agni Steels Pvt Ltd                     ST: Non-fund based    ICRA A3+    -        Upgraded
                                        (sublimit)                                 from ICRA A3
Archies Ltd                             CP                    ICRA A3+    150      Reaffirmed
Ashley Alteams India Ltd                ST: Non-FB Fac        ICRA  A3    250      Upgraded
                                                                                   from
                                                                                   ICRA A4+
Ashley Alteams India Ltd                ST: Proposed Fac      ICRA  A3    50       Upgraded
                                                                                   from
                                                                                   ICRA A4+
Ashley Alteams India Ltd                ST: Fund based (sub   ICRA  A3    -        Upgraded
                                        limit)                                     from
                                                                                   ICRA A4+
Brawn Laboratories Ltd                  ST Non-FBL            ICRA A3     30       Upgraded
                                                                                   from
                                                                                   ICRA A4+
Eros Resorts And Hotels Pvt Ltd         BG                    ICRA A4     60       Upgraded
                                                                                   from ICRA D
Kobe Suspension Company Pvt Ltd         ST - Fund Based       ICRA A4     35       Reaffirmed
Malik Marketing & Infracom Pvt          Non-fund based – BG   ICRA A4     21       -
Ltd
ISSUER NOT COOPERATING
Natural Capsules Ltd                    ST Non-FB Fac         ICRA A3+    12.9     Reaffirmed
Pinnacle Biomed Pvt Ltd                 Non-FBL               ICRA A4     50       Assigned
Varadharaja Foods Pvt Ltd               Short–term: Non-FB    ICRA A4      -       -
                                        Fac (sub–limit)
Bioplus Life Sciences Pvt Ltd           FB – WC               ICRA A2      200     Reaffirmed
Bioplus Life Sciences Pvt Ltd           Non-fund based        ICRA A2      6       Reaffirmed
Mastek Ltd                              Non-FBL               ICRA A1+     90      Reaffirmed
Pragathi Group                          ST Non-FB Fac         ICRA A3+     30      Withdrawn
Primo Pick N Pack Ltd                   ST FB limits          ICRA A4+     65      Reaffirmed
Primo Pick N Pack Ltd                   ST non-FBL            ICRA A4+     9       Reaffirmed
Primo Pick N Pack Ltd                   Unallocated limits    ICRA A4+     1       Reaffirmed
Raymond Uco Pvt Ltd                     ST fund based         ICRA A2      750     Downgraded
                                                                                   from ICRA A2+
Raymond Uco Pvt Ltd                     ST non-fund based     ICRA A2      1080    Downgraded
                                                                                   from ICRA A2+
Tata Sons Ltd                           CP programme          ICRA A1+     26250   outstanding
Vadim Infrastructure Pvt Ltd            ST – FB               ICRA A4      20      Assigned
Vadim Infrastructure Pvt Ltd            ST - Non-fund based   ICRA A4      40.5    Assigned
ISSUER NOT COOPERATING

LONG TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd                     CC                    ICRA B      110      Upgraded
                                                                                   from ICRA B-
Agni Steels Pvt Ltd                     LT: FB Fac            ICRA BBB    300      Upgraded
                                                                                   from
                                                                                   ICRA BBB-
Agni Steels Pvt Ltd                     LT: TL                ICRA BBB    173.8    Upgraded
                                                                                   from
                                                                                   ICRA BBB-
Archies Ltd                             FB Limits             ICRA BBB    300      Revised from
                                                                                   ICRA  BBB
Archies Ltd                             Non-FBL               ICRA BBB    30       Revised from
                                                                                   ICRA  BBB
Ashley Alteams India Ltd                LT: TL                ICRA  BBB   64.6     Upgraded
                                                                                   from
                                                                                   ICRA BB+
Ashley Alteams India Ltd                LT: FB facility       ICRA  BBB   400      Upgraded
                                                                                   from
                                                                                   ICRA BB+
Ashley Alteams India Ltd                LT: Proposed Fac      ICRA  BBB   485.4    Upgraded
                                                                                   from
                                                                                   ICRA BB+
Betul Wind Farms Ltd.                   TL                    ICRA BBB    2270     Revised from
                                                                                   ICRA  BBB-
Betul Wind Farms Ltd.                   CC                    ICRA BBB    86.9     Revised from
                                                                                   ICRA  BBB-
Betul Wind Farms Ltd.                   Unallocated           ICRA BBB    51.9     Revised from
                                                                                   ICRA  BBB-
Brawn Laboratories Ltd                  LT FB Limits          ICRA BBB-   300      Upgraded
                                                                                   from
                                                                                   ICRA BB+
Brawn Laboratories Ltd                  LT Interchangeable#   ICRA BBB-   -        Upgraded
                                                                                   from
                                                                                   ICRA BB+
# Rs. 36.00-crore sub-limits are interchangeable between cash credit, packing credit and foreign
outward bills negotiation such that total limits should not exceed Rs. 30.00-crore.
Chandan Trading Company Pvt Ltd         FB – CC               ICRA B+     110     -
ISSUER NOT COOPERATING
Eros Resorts And Hotels Pvt Ltd         TL                    ICRA C+     390      Upgraded
                                                                                   from ICRA  D
Eros Resorts And Hotels Pvt Ltd         CC                    ICRA C+     50       Upgraded
                                                                                   from ICRA  D
Kobe Suspension Company Pvt Ltd         CC                    ICRA B+     5.5      Revised from
                                                                                   ICRA BB-
Kobe Suspension Company Pvt Ltd         TL                    ICRA B+     1.2      Revised from
                                                                                   ICRA BB-
Kobe Suspension Company Pvt Ltd         Unallocated           ICRA B+ /   28.3     Revised from
                                                              A4                   ICRA BB- /
                                                                                   Reaffirmed
L&T Bpp Tollway Ltd                     TL                    ICRA BBB-   18540    Downgraded
                                                                                   from
                                                                                   ICRA BBB
Malik Marketing & Infracom Pvt          FB – CC               ICRA B      75      -
Ltd
ISSUER NOT COOPERATING
Malik Marketing & Infracom Pvt          FB-Untied Limit       ICRA B      4       -
Ltd
ISSUER NOT COOPERATING
Manmeet Alloys Pvt Ltd                  CC                    ICRA B      150      Upgraded
                                                                                   from ICRA B
Manyata Promoters Pvt Ltd               FB – TL               ICRA A      5040     Upgraded
                                                                                   from ICRA A-
Manyata Promoters Pvt Ltd               FB – TL               ICRA A      1880     Upgraded
                                                                                   from ICRA A-
Manyata Promoters Pvt Ltd               FB – TL               ICRA A-     2500     Upgraded
                                                                                   from
                                                                                   ICRA BBB+
Manyata Promoters Pvt Ltd               Issuer Rating         IrA-         -       Assigned
Mrl Posnet Pvt Ltd                      LT: NCD               ICRA BBB-   50       Reaffirmed
Mrl Posnet Pvt Ltd                      LT: NCD - Proposed    ICRA BBB-   30       Reaffirmed
Natural Capsules Ltd                    LT FB Fac             ICRA BBB    65       Reaffirmed
Natural Capsules Ltd                    Unallocated Fac       ICRA BBB /  47       Reaffirmed
                                                              A3+
Obeetee Pvt Ltd                         LT/ST Fund Based      ICRA A+ /   571      Upgraded
                                                              A1                   from ICRA 
                                                                                   A / 
                                                                                   Reaffirmed 
Obeetee Textiles Pvt Ltd                LT/ST Fund Based      ICRA A+ /   211      Upgraded
                                                              A1                   from ICRA 
                                                                                   A / 
                                                                                   Reaffirmed
Orange Suvaan Energy Pvt. Ltd.          TL                    ICRA  BBB   4500     Assigned
Orange Suvaan Energy Pvt. Ltd.          CC                    ICRA  BBB   190      Assigned
Pinnacle Biomed Pvt Ltd                 FB Limits             ICRA B+     200      Assigned
Shiv Shanker Rice Mills                 CC                    ICRA BB-    365      Reaffirmed
Shiv Shanker Rice Mills                 TL                    ICRA BB-    40       Reaffirmed
Systemtrac Traders Pvt Ltd              NCD                   ICRA AA-    3750     Reaffirmed
Tara Foods                              Proposed Fac          ICRA B+ /   120      Reaffirmed
                                                              A4
Umang Dairies Ltd                       LT fund based – CC    ICRA BBB-   230      Reaffirmed
Umang Dairies Ltd                       LT fund based – TL    ICRA BBB-   110      Reaffirmed
Varadharaja Foods Pvt Ltd               Long–term: TL         ICRA BB      2.7     -
ISSUER NOT COOPERATING
Varadharaja Foods Pvt Ltd               Long–term: FB Fac     ICRA BB      70      -
ISSUER NOT COOPERATING
Varadharaja Foods Pvt Ltd               LT/ST – Unallocated   ICRA BB / A4 77.3    -
ISSUER NOT COOPERATING
Hindustan Oil Exploration Co.           LT proposed facility  ICRA BBB+    1000    Withdrawn
Ltd
Mastek Ltd                              FB limits             ICRA A+      40      Reaffirmed
Mastek Ltd                              FB / non-FBL          ICRA A+/     60      Reaffirmed
                                                              ICRA A1+
Modest Infrastructure Ltd               FB Limits – CC        ICRA C+      700     Reaffirmed
Modest Infrastructure Ltd               Non-FBL               ICRA C+/     350     Reaffirmed
                                                              ICRA A4
Modest Infrastructure Ltd               Proposed Limits       ICRA C+/     1450    Reaffirmed
                                                              ICRA A4
Mrf Ltd                                 NCD                   ICRA AAA     5000    Reaffirmed
Mrf Ltd                                 NCD – Proposed        ICRA AAA     1000    Reaffirmed
Naitik Gems Llp                         Proposed Limits       ICRA B+/     250     Assigned
                                                              ICRA A4
Oriental Bank Of Commerce               Basel III Complaint   ICRA A(hyb)  10000   Assigned
                                        Tier I Bonds Programme
Pragathi Group                          LT – TL               ICRA BBB     570     Withdrawn
Primo Pick N Pack Ltd                   CC                    ICRA BB+     100     Reaffirmed
Raymond Uco Pvt Ltd                     LT fund based – CC    ICRA BBB+    2750    Downgraded
                                                                                   from ICRA A-
Raymond Uco Pvt Ltd                     LT fund based – TL    ICRA BBB+    2446.8  Downgraded
                                                                                   from ICRA A-
(revised from Rs. 250.76CRS)
Spandana Sphoorty Finance Ltd           PTC Series A1         Provisional  301.6   Assigned
                                                              ICRA A-(SO)
Spandana Sphoorty Finance Ltd           PTC Series A1         Provisional  270     Assigned
                                                              ICRA A-(SO)
Tata Sons Ltd                           NCD programme         ICRA AAA     10000   Assigned
Tata Sons Ltd                           NCD programmes        ICRA AAA     217450  Outstanding
Vadim Infrastructure Pvt Ltd            LT - FB               ICRA BB-     23      Assigned
Vadim Infrastructure Pvt Ltd            Unallocated Limits    ICRA BB-/    16.5    Assigned
                                                              ICRA A4
--------------------------------------------------------------------------------------------
$: 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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