Reuters logo
RPT-ICRA ratings for Indian debt instruments-Aug 24
August 24, 2017 / 10:39 AM / in 4 months

RPT-ICRA ratings for Indian debt instruments-Aug 24

 (Repeating to add more ratings.)
    Aug 24 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 23, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhuvaneswari Tex                        ST FB                 ICRA A4+     80      Reaffirmed
Bhuvaneswari Tex                        ST Non-FB             ICRA A4+     1.5     Reaffirmed
Deekay Trexim Pvt Ltd                   Non-FBL               ICRA]A4;     8.6
Issuer not Cooperating
East Coast Engineering Company          Non FB – BG           ICRA A4      40      Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          FB – Bill Discounting ICRA A4      100     Reaffirmed
Shri Madhusudan Rayons Pvt Ltd          ST non- fund based    ICRA A4+     0.4     Reaffirmed
Heeru Corrosion Protection              Non-fund Based BG     ICRA A4+     65      Withdrawn
Services (I) Pvt Ltd
Ifci Ltd                                CP Programme          ICRA A1      5000    Downgraded
                                                                                   from ICRA A1+
Jasper Industries Pvt Ltd               NFBL                  ICRA A3      7.5     outstanding
Maheshwari Logistics Ltd                ST Non Fund           ICRA A2+     612     -
(ISSUER NOT COOPERATING)
Maheshwari Logistics Ltd                ST Fund Based         ICRA A2+     30      -
(ISSUER NOT COOPERATING)
Maheshwari Logistics Ltd                ST Interchangeable    ICRA A2+     280     -
(ISSUER NOT COOPERATING)
Qi Network Enterprise Pvt Ltd           ST – FB               ICRA A4      15      Reaffirmed
Qi Network Enterprise Pvt Ltd           ST – Non-fund based   ICRA A4      160     Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          FB – Bill Discounting ICRA A4      100     Reaffirmed
(revised from Rs. 14.00 crore earlier)
Rajsamadhiyala Spintex Pvt Ltd          Non FB LimitsCredit   ICRA A4      35      -
                                        Exposure Limit
(ISSUER NOT COOPERATING)
Rajsamadhiyala Spintex Pvt Ltd          Non FB LimitsBG       ICRA A4      4       -
(ISSUER NOT COOPERATING)
Tamil Nadu Newsprint And                ST Fund Based         ICRA A2      750     Revised from
Papers Ltd                                                                         ICRA A1
Tamil Nadu Newsprint And                CP                    ICRA A2+     100     Revised from
Papers Ltd                                                                         ICRA A1

LONG TERM RATINGS:
-------------------
Aptus Value Housing Finance             PTC Series A2         ICRA A(SO)   -       Withdrawn
India Ltd
Aptus Value Housing Finance             PTC Series A1         ICRA AA(SO)  -       Withdrawn
India Ltd
Anahita Sbl Ifmr Capital 2014           PTC Series A2         ICRA A(SO)           Withdrawn
Anahita Sbl Ifmr Capital 2014           PTC Series A1         ICRA AA(SO)          Withdrawn
Assetz Investments And                  FB – Proposed CC      ICRA BB+     170     Withdrawn
Holdings Llp
Deekay Trexim Pvt Ltd                   CC                    ICRA BB-     95
Issuer not Cooperating
East Coast Engineering Company          FB – CC               ICRA BB-     100     Reaffirmed
Irm Ltd (Irm)                           LT, TL                ICRA BBB-    190.1   Assigned
Irm Ltd (Irm)                           LT, FB Fac            ICRA BBB-    350     outstanding
Irm Ltd (Irm)                           LT / ST, non-FB Fac   ICRA BBB-    100     outstanding
                                                              / ICRA A3;
Pibco Enterprises Pvt Ltd               FB – CC               ICRA BB-     60
Issuer not Cooperating
Prompt Terminals Pvt Ltd                LT – TL               ICRA B+      185     Reaffirmed
Prompt Terminals Pvt Ltd                LT – Fund based – CC  ICRA B+      15      Reaffirmed
Prompt Terminals Pvt Ltd                LT – Proposed facility                     Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          FB – CC               ICRA B+      15      Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          Non FB – BG           ICRA B+      20      Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          Unallocated Limits    ICRA B+ /    50      Reaffirmed
                                                              ICRA A4;
S.D. Education                          LT-Fundbased Limits   ICRA D       67.5
Issuer not Cooperating
Samunnati Financial                     NCD                   ICRA BB+     350     Assigned
Intermediation Services Pvt Ltd
Shri Madhusudan Rayons Pvt Ltd          LT fund based         ICRA BB+     80.4    Reaffirmed
Shri Madhusudan Rayons Pvt Ltd          LT fund based         ICRA BB+     147.5   Reaffirmed
Shri Madhusudan Rayons Pvt Ltd          LT unallocated amount ICRA BB+     14.5    Reaffirmed
Starlite Lighting Ltd                   NCD programme         ICRA A+(SO)  800     Assigned
Vishesh Engineering Company             FB – CC               ICRA BB-     100     Reaffirmed
Vishesh Engineering Company             Unallocated limits
Bhuvaneswari Tex                        LT FB                 ICRA BB+     34.5    Reaffirmed
Chordia Food Products Ltd               LT FB Limits          ICRA BB      100     Revised from
                                                                                   ICRA BB+
Heeru Corrosion Protection              FB CC                 ICRA BB+     10      Withdrawn
Services (I) Pvt Ltd
Heeru Corrosion Protection              FB TL                 ICRA BB+     24.4    Withdrawn
Services (I) Pvt Ltd
Ifci Ltd                                Fund Based Bk Limits  ICRA A-      100000  Downgraded
                                                                                   from ICRA A
Ifci Ltd                                LT Bonds (including   ICRA A-      44884.5 Downgraded
                                        Subordinated Debt)                         from ICRA A
Ifci Ltd                                Bonds/NCD Programme   ICRA A-      20000   Downgraded
                                        (Public issue)                             from ICRA A
Jasper Industries Pvt Ltd               FBL                   ICRA BBB-    3161    outstanding
(revised from Rs 164.00 crore)
Jasper Industries Pvt Ltd               Unallocated Limits    ICRA BBB-    4       outstanding
                                                              /ICRA A3
(revised from Rs 5.50 crore)
Kanwarji Construction Company           Fund based            ICRA BB+     85      -
Issuer delayed in giving information
Kanwarji Construction Company           Non Fund based        ICRA BB+ /   560     -
                                                              ICRA A4+
Issuer delayed in giving information
Laxminarayan Industries                 LT fund based         ICRA BB      69      Reaffirmed
Laxminarayan Industries                 LT unallocated amount ICRA BB      3.4     Reaffirmed
Maha Durga Charitable Trust             TL                    ICRA B       190     Reaffirmed
Maheshwari Logistics Ltd                CC                    ICRA BBB+    360     -
(ISSUER NOT COOPERATING)
Maheshwari Logistics Ltd                TL                    ICRA BBB+    69.4    -
(ISSUER NOT COOPERATING)
Muthoot Capital Services Ltd            PTC Series A1         ICRA A-      796.6   Confirmed as
                                                                                   final
Muthoot Capital Services Ltd            PTC Series A2         ICRA BB+(SO) 17.7    Confirmed as
                                                                                   final
Pibco Enterprises Pvt Ltd               FB – CC               ICRA BB-     60      -
(ISSUER NOT COOPERATING)
Prime Comfort Products Pvt Ltd          LT fund based         ICRA BB-     325     -
(ISSUER NOT COOPERATING)
Prime Comfort Products Pvt Ltd          Unallocated Long/ST   ICRA BB- /   23      -
                                                              ICRA A4
(ISSUER NOT COOPERATING)
Qi Network Enterprise Pvt Ltd           LT FB – CC            ICRA BB      20      Reaffirmed
R.K. Grover & Co.                       Bk facilitie          ICRA B- /    62.5    -
                                                              ICRA A4
(ISSUER NOT COOPERATING)
Rajda Sales (Calcutta) Pvt Ltd          FB – CC               ICRA B+      15      Reaffirmed
Rajda Sales (Calcutta) Pvt Ltd          Non FB – BG           ICRA B+      20      Reaffirmed
(revised from Rs. 3.00 crore earlier)
Rajda Sales (Calcutta) Pvt Ltd          Unallocated Limits    ICRA B+ /    50      Reaffirmed
                                                              ICRA A4
(revised from Nil earlier)
Rajsamadhiyala Spintex Pvt Ltd          FB Limits-CC          ICRA B       100     -
(ISSUER NOT COOPERATING)
Rajsamadhiyala Spintex Pvt Ltd          FB Limits-TL          ICRA B       620     -
(ISSUER NOT COOPERATING)
Regency Nirman Ltd                      Bk Loans              ICRA BBB     320     Issuer not
                                                                                   co-operating
Renew Wind Energy (Delhi) Pvt           BL                    ICRA BBB     1350    -
Ltd
S&J Granulate Solutions Pvt Ltd         NCD                   ICRA BB-     80      -
Same Deutz Fahr India Pvt Ltd           Fund based/ Non-fund  ICRA AA- /   800     -
                                        based Bk lines        ICRA A1+
Sobha Ltd                               FB – TL               ICRA A+      21545.9 upgraded
                                                                                   from ICRA A
( reduced from 2254.59crs)
Sobha Ltd                               Fund Based - Working  ICRA A+      4550    upgraded
                                        capital limits                             from ICRA A
( increased from 430.00crs)
Sobha Ltd                               Non-fund based -      ICRA A+      4500    upgraded
                                        Working capital limits                     from ICRA A
( increased from 375.00crs)
Sobha Ltd                               NCDs                  ICRA A+      4000    upgraded
                                                                                   from ICRA A
Sri Rama Educational Trust              FB Limits             ICRA B-      122     -
(ISSUER NOT COOPERATING)
Sri Rama Educational Trust              Unallocated           ICRA B-      148     -
(ISSUER NOT COOPERATING)
Steelfab Engineering                    FB Limits             ICRA B+      600     Issuer not
Corporation                                                                        co-operating
Sudarshan Textiles Pvt Ltd              LT fund based - TL    ICRA BB      40      Reaffirmed
Sudarshan Textiles Pvt Ltd              LT fund based - CC    ICRA BB      25      Reaffirmed
Tamil Nadu Newsprint And                TL                    ICRA A       20800   Reaffirmed
Papers Ltd
Tamil Nadu Newsprint And                LT/ST – Fund          ICRA A /     6750    Reaffirmed
Papers Ltd                              Based/Non Fund Based  ICRA A2+             /Revised
                                                                                   from ICRA A1
Veerprabhu Marketing Ltd.               Proposed Fund Based & ICRA BB+     150     Withdrawn
                                        Non-FBL               /ICRA A4+
Vsrk Constructions                      FB – CC               ICRA B+      20      Reaffirmed
Vsrk Constructions                      Non FB – BG           ICRA B+      80      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below