August 30, 2018 / 11:20 AM / 21 days ago

RPT-ICRA ratings for Indian debt instruments-Aug 30

 (Repeating to add more ratings.)
    Aug 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 29, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aastha Fashions Pvt. Ltd.               ST, non-fund based^   ICRA A4      -       -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Aghara Knitwear Pvt. Ltd.               Non-FB limits         ICRA A4      1.5     Reaffirmed
Armaan Industries Pvt. Ltd.             ST, non-fund based    ICRA A4      1.8     -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Armaan Industries Pvt. Ltd.             ST, non-fund based^   ICRA A4      -       -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category) / ^ sub-limit under cash
credit facility
Ashish Construction Co                  BG                    ICRA A4      60      -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Dharamchand Paraschand Exports          ST -FBL               ICRA A4      580     -
(Reason for delay in carrying out periodic review -Review under process)
Dharamchand Paraschand Exports          ST –Unallocated       ICRA A4      80      -
(Reason for delay in carrying out periodic review -Review under process)
Gujarat Narmada Valley                  Non-FB Fac            ICRA A1+     9000    Reaffirmed
Fertilizers And Chemicals Ltd
Gujarat Narmada Valley                  CP Programme          ICRA A1+     10000   Reaffirmed
Fertilizers And Chemicals Ltd
Hare Krishna Metallics Pvt.Ltd          ST: Non-FBFac               A3     181     Reaffirmed
Hare Krishna Metallics Pvt.Ltd          ST:Interchangeable          A3     -       Reaffirmed
                                        –sub limit of non-FB
                                        limits
Prg Buildcon India Pvt. Ltd             NFB                         A4+    370     Assigned
Jsw Steel Ltd                           ST FB Limits          ICRA A1+     14000   Reaffirmed
Jsw Steel Ltd                           CP Programme          ICRA A1+     50000   Reaffirmed
Jsw Steel Ltd                           ST Non-FBL            ICRA AA      196000  Reaffirmed
Kobe Suspension Company Pvt Ltd         ST -Fund Based        ICRA A4      45      Reaffirmed
Krystal Integrated Services             Non-FB                ICRA A3+     410     Withdrawn
Pvt Ltd
Krystal Integrated Services             FB–Working Capital    ICRA A3+     -       Withdrawn
Pvt Ltd                                 Demand Loan(Sublimit
                                        of CC)
Kumar Motor Corporation Pvt Ltd         ST -Non-Fund Based BG ICRA A4      3.1     Withdrawn
Malati Founders Pvt Ltd                 Non-fund based –BG    ICRA A4+     5       -
(ISSUER NOT COOPERATING*;Rating moved to the ‘Issuer Not Cooperating’ category)
Mdindia Health Insurance Tpa            Non-Fund Based-BG     ICRA A3      350     Withdrawn
Pvt Ltd
Rajrani Steel Casting Pvt Ltd           Non-FB Fac            ICRA A4      17.5    -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Royal Castor Products Ltd               FB –EPC/FBD/FBP^      ICRA A2      550     -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category) / 
^includes  asublimit  for cash  credit  facility for  Rs. 20.00  crorewhich  is  rated  on the 
long-term scale.  It  also  includes  a sublimitfornon-fund-based  LC(letter  of  credit)  of 
Rs.    5.00  crore  and  BG  (bank  guarantee)  of  Rs.  5.00  crore  which  are rated on the
short-term scale 
Royal Castor Products Ltd               Non-FBL               ICRA A2      30      -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
S. D. Corporation Pvt Ltd               CP                    ICRA A1+     9600    Outstanding
S. D. Corporation Pvt Ltd               CP                    Provisional  500     Assigned
                                                              ICRA A1+
S. D. Corporation Pvt Ltd               CP                    Provisional  1000    Confirmed as
                                                              ICRA A1+             final
Sangam Fashions Pvt Ltd                 ST, Non fund based: BGICRA A4      4.3     -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Shree Shakti Construction               Non-Fund              ICRA A4      70      Reaffirmed
                                        based–Working Capital
                                        Fac
Silver Crest Clothing Pvt Ltd           ST: FB Fac            ICRA A1      1030    Reaffirmed
Taste’L Fine Food Pvt Ltd               ST –FBL               ICRA A4+     120     -
(Reason for delay in carrying out periodic review-Issuer delayed in giving information)
Taste’L Fine Food Pvt Ltd               ST –Non-FBL           ICRA A4+     20      -
(Reason for delay in carrying out periodic review-Issuer delayed in giving information)
Tata Capital Ltd                        CP Programm           ICRA A1+     20000   Reaffirmed
Tata Cleantech Capital Ltd              CP Programme          ICRA A1+     10000   Reaffirmed
Terra Energy Ltd                        ST Non-fund Based     ICRA D       110     -
                                        –Working Capital Fac
(Rating moved to the ‘Issuer Not Cooperating’ category)
Thiru Arooran Sugars Ltd                ST Non-fund Based     ICRA D       15      -
                                        –Working Capital Fac
(Rating moved to the ‘Issuer Not Cooperating’ category)


LONG TERM RATINGS:
-------------------
Aastha Fashions Pvt. Ltd.               LT, fund based: CC    ICRA B+      60      -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Aastha Fashions Pvt. Ltd.               LT, fund based: TL    ICRA B+      29.2    -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Aghara Knitwear Pvt. Ltd.               FB limits             ICRA B+      65.1    Reaffirmed
Aghara Knitwear Pvt. Ltd.               Unallocated limits    ICRA B+/A4   0.4     Reaffirmed
Akshar Cotton Industries                FB –TL                ICRA B+      0.3     -
(Rating continues to remain under‘Issuer Not Cooperating’ category)
Akshar Cotton Industries                Fun-based –CC         ICRA B+      100     -
(Rating continues to remain under‘Issuer Not Cooperating’ category)
Akshar Cotton Industries                Unallocated Limits    ICRA B+      13.9    -
(Rating continues to remain under‘Issuer Not Cooperating’ category)
Armaan Industries Pvt. Ltd.             LT, fund based: CC    ICRA BB-     50      -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Armaan Industries Pvt. Ltd.             LT, fund based: TL    ICRA BB-     34.9    -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Chandralok Textile Industries           FBLed                 ICRA D       93.2    Downgraded
Pvt Ltd                                                                            from ICRA B-
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Darvesh Constructions Pvt Ltd           LT-Fund Based-TL      ICRA B+      300     Withdrawn
(ISSUER NOT COOPERATING)
Finestar Jewellery & Diamonds           LT and ST FBlimits    ICRA BBB-/A3 300     Withdrawn
Pvt Ltd
G.D.Metsteel Pvt Ltd                    LT Fund basedlimits   ICRA B       150     -
                                        –CC
"ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category"
G.D.Metsteel Pvt Ltd                    LT FBL –TL            ICRA B       50      -
"ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category"
G.D.Metsteel Pvt Ltd                    LT -Unallocated Limit ICRA B       30      -
"ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category"
Gujarat Cotton Corporation              Export Packing Credit ICRA BB-     250     -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Gujarat Narmada Valley                  FB Fac                ICRA AA+     15000   Upgrade from
Fertilizers And Chemicals Ltd                                                      ICRA AA
Jsw Steel Ltd                           TL / Standby LOC Fac  ICRA AA      247590  Revised from
                                                                                   ICRA AA-
Jsw Steel Ltd                           Proposed –TL          ICRA AA      50000   Revised from
                                                                                   ICRA AA-
Jsw Steel Ltd                           NCD Programme         ICRA AA      37040   Revised from
                                                                                   ICRA AA-
Jsw Steel Ltd                           Proposed NCD ProgrammeICRA AA      20000   Revised from
                                                                                   ICRA AA-
Jsw Steel Ltd                           LT / ST –FB/Non-FBL   ICRA AA/A1+  58444   Revised from
                                                                                   ICRA AA-/
                                                                                   Reaffirmed
Karaikudi Municipality                  Issuer rating         ICRA BB+     -       Withdrawn
(ISSUER NOT COOPERATING)
Kobe Suspension Company Pvt Ltd         LT: Fund Based/CC     ICRA B+      5.5     Reaffirmed
Kobe Suspension Company Pvt Ltd         LT/ST -Unallocated    ICRA B+/A4   19.5    Reaffirmed
Kranthi Edifice Pvt Ltd                 Fund based-CC         ICRA D       120     Revised from
                                                                                   ICRA BB
(Moved to ‘Issuer Not Cooperating’ category)
Kranthi Edifice Pvt Ltd                 Non fund based        ICRA D       1100    Revised from
                                                                                   ICRA BB
(Moved to ‘Issuer Not Cooperating’ category)
Krystal Integrated Services             FB –CC                ICRA BBB     316     Withdrawn
Pvt Ltd
Krystal Integrated Services             FB –TL                ICRA BBB     29.6    Withdrawn
Pvt Ltd
Krystal Integrated Services             Unallocated           ICRA BBB/A3+ 44.4    Withdrawn
Pvt Ltd
Kudgi Transmission Ltd                  NCD-1                 ICRA AA      -       Withdrawn
Kudgi Transmission Ltd                  NCD-2                 ICRA AAA     14770   Reaffirmed
Kumar Motor Corporation Pvt Ltd         LT -Fund Based TL     ICRA B       39      Withdrawn
Kumar Motor Corporation Pvt Ltd         LT -Fund Based CC     ICRA B       16      Withdrawn
Kumar Motor Corporation Pvt Ltd         LT/ ST -Unallocated   ICRA B/A4    106.9   Withdrawn
Malati Founders Pvt Ltd                 Fund based -TL        ICRA BB-     14.8    -
(ISSUER NOT COOPERATING*;Rating moved to the ‘Issuer Not Cooperating’ category)
Malati Founders Pvt Ltd                 Fund based –LOC       ICRA BB+     33      -
(ISSUER NOT COOPERATING*;Rating moved to the ‘Issuer Not Cooperating’ category)
Malati Founders Pvt Ltd                 Unallocated facility  ICRA BB+/A4+ 26.6    -
(ISSUER NOT COOPERATING*;Rating moved to the ‘Issuer Not Cooperating’ category)
Mdindia Health Insurance Tpa            Fund based-TL         ICRA BBB-    300     Withdrawn
Pvt Ltd
Mdindia Health Insurance Tpa            Fund based-CC         ICRA BBB-    45      Withdrawn
Pvt Ltd
Mdindia Health Insurance Tpa            LT/ST-Unallocated     ICRA BBB-/A3 9.4     Withdrawn
Pvt Ltd
Navalakha Translines                    Fund based-CC         ICRA BB+     40      -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Navalakha Translines                    Fund based/NFBL       ICRA BB+     210     -
(ISSUER NOT COOPERATING*; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Orange County Resorts & Hotels          Proposed NCD          ICRA A-      1000    -
Ltd
(Reason for delay in carrying out periodic review:-Review process is underway)
Ostro Jaisalmer Pvt Ltd                 TL                    ICRA BBB     2930    -
(Reason for delay in carrying out periodic review:-Process of withdrawal is under initiation)
Ostro Jaisalmer Pvt Ltd                 Working Capital       ICRA BBB     280     -
                                        Demand Loan
(Reason for delay in carrying out periodic review:-Process of withdrawal is under initiation)
Prakash Dal & Flour Mills               FB-Working Capital FacICRA BB-     100     Downgraded
                                                                                   from
                                                                                   ICRA BB+
Prakash Dal & Flour Mills               Non-FB Fac(Sublimit   ICRA BB-/A4  -       Downgraded
                                        of FB limits)                              from
                                                                                   ICRA BB+/A4+
Rajrani Steel Casting Pvt Ltd           Fund based –CC        ICRA B-      130     -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Rajrani Steel Casting Pvt Ltd           Fund based –TL        ICRA B-      30      -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Rishika Fashions Pvt Ltd                LT, fund based: CC    ICRA BB      50      -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Rishika Fashions Pvt Ltd                LT, fund based: TL    ICRA BB      7.2     -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Robertsonpet City Municipal             Issuer rating         ICRA BB+     -       Withdrawn
Council
Royal Castor Products Ltd               FB –TL                ICRA BBB+    30      -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Royal Castor Products Ltd               Public Deposit        MA-          100     -
                                        Programme
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Royal Orchid Hotels Ltd                 LT TL                 ICRA BBB     460     Assigned /
                                                                                   Outstanding
S. D. Corporation Pvt Ltd               NCD Programme         ICRA AA      4350    Outstanding
Sangam Fashions Pvt Ltd                 LT, fund based: CC    ICRA BB      50      -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Sangam Fashions Pvt Ltd                 LT, fund based: TL    ICRA BB      68      -
(Rating continues to remain inthe ‘Issuer Not Cooperating’ category)
Sentini Beverages (P) Ltd               Fund based-CC         ICRA BBB-    70      Reaffirmed
Sentini Beverages (P) Ltd               Unallocated limits    ICRA BBB-/A3 430     Reaffirmed
Shree Harikrushna Cotton                CC                    ICRA B       80      -
Industries
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Shree Harikrushna Cotton                TL                    ICRA B       17.6    -
Industries
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Shree Shakti Construction               Fund based–Working    ICRA BB-     40      Reaffirmed
                                        Capital Fac
Silver Crest Clothing Pvt Ltd           LT: FB Sub-limits     ICRA A       -       Reaffirmed
Spandana Sphoorty Financial Ltd         PTC Series A          Provisional  1405.2  Assigned
                                                              ICRA A+
Taste’L Fine Food Pvt Ltd               LT -FBL               ICRA BB      10      -
(Reason for delay in carrying out periodic review-Issuer delayed in giving information)
Taste’L Fine Food Pvt Ltd               LT/ST -Unallocated    ICRA BB/A4+  100     -
(Reason for delay in carrying out periodic review-Issuer delayed in giving information)
Terra Energy Ltd                        FB –TL                ICRA D       98.9    -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Terra Energy Ltd                        FB –CC                ICRA D       89.5    -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Terra Energy Ltd                        Unallocated Limits    ICRA D       201.6   -
(Rating moved to the ‘Issuer Not Cooperating’ category)
The Vijayawada Electricity              Bk Fac                ICRA BB      150     -
Employees Cooperative Credit
Society Ltd
(Rating remainsunder ‘Issuer Not Cooperating’ category)
Thiru Arooran Sugars Ltd                FB TL                 ICRA D       297     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Thiru Arooran Sugars Ltd                FB CC                 ICRA D       568.4   -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Thiru Arooran Sugars Ltd                LT Non-fund Based     ICRA D       2350.3  -
                                        Working Capital Fac
(Rating moved to the ‘Issuer Not Cooperating’ category)
Thiru Arooran Sugars Ltd                Unallocated Limits    ICRA D       161.1   -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Vasani Polymers Pvt Limit               CC                    ICRA BB-     70      -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Vasani Polymers Pvt Limit               TL                    ICRA BB-     50.3    -
(ISSUER NOT COOPERATING*; Rating continues to remain under‘Issuer Not Cooperating’ category)
Vijayapura Tollway Pvt Ltd              Provisional TL (TL)   Provisional  12120   Assigned
                                                              ICRA A+
Vitp Pvt Ltd                            NCD                   ICRA BBB     3500    Outstanding
Yashodhara Super Speciality             TL                    ICRA BB+     400     -
Hospital Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Yashodhara Super Speciality             CC                    ICRA BB+     10      -
Hospital Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Hare Krishna Metallics Pvt.Ltd          LT: FBFac                   BBB-   170     Reaffirmed
Hare Krishna Metallics Pvt.Ltd          LT: Unallocated             BBB-   56.2    Reaffirmed
Prg Buildcon India Pvt. Ltd             CC                          BB+    40      Assigned
Prg Buildcon India Pvt. Ltd             TL                          BB+    158.7   Assigned
Prg Buildcon India Pvt. Ltd             Unallocated                 BB+    2131.3  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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