August 6, 2018 / 11:25 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Aug 6

 (Repeating to add more ratings)
    Aug 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 3, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhuwalka & Sons Pvt Ltd                 ST – Non-fund Based LCICRA A3      150     Upgraded
                                                                                   from ICRA A4+
Coirfoam India Pvt Ltd                  ST: Non-Fund Based-BG ICRA A4      10      -
*Issuer did not co-operate; based on best available information.
Ctbc Bank Co., Ltd.                     CD                    {ICRA A1+    2000    outstanding
Itd Cemindia Jv                         ST Non-FBL            ICRA A1      700     Assigned
                                                              (SO) ^
^The rating is principally based on a corporate guarantee from ITD Cementation India Limited and
an undertaking provided by the guarantor that it would ensure that the related debt obligations
are serviced on or prior to the due date. 
Kopell Grounding Systems Pvt            ST - Packing Credit   ICRA A4      35      Reaffirmed
Ltd                                     Limit
Kopell Grounding Systems Pvt            ST- FOBP/ FOUBP/ 5    ICRA A4      50      Reaffirmed
Ltd                                     FABC/ FOUBNLC (bill
                                        discounting)
Kopell Grounding Systems Pvt            ST – BG               ICRA A4      2.5     Reaffirmed
Ltd
Kopell Grounding Systems Pvt            ST – Unallocated      ICRA A4      32.5    Assigned
Ltd                                     Limit -
Mastek Ltd                              ST non-fund based     ICRA A1+     90      Reaffirmed
Munjal Auto Industries Ltd              ST Fund based         ICRA A1+     150     Reaffirmed
Munjal Auto Industries Ltd              ST Non-fund based     ICRA A1+     159.3   Reaffirmed
Munjal Auto Industries Ltd              CP                    ICRA A1+     150     Reaffirmed
Network18 Media & Investments           CP Programme          ICRA A1+     15000   Reaffirmed
Ltd
Reliance Power Ltd                      ST –Non fundbased     ICRA A4      400     Revised from
                                        Limits                                     ICRA A2
*issuer not cooperating for submission of monthly no default statement
Reliance Power Ltd                      CP/ ST debt           ICRA A4      10000   Revised from
                                        Programme/ NCD                             ICRA A2
(with maturity of less than one year),*issuer not cooperating for submission of monthly no
default statement.
Tide Water Oil Co. (India) Ltd          Non FB Fac            ICRA A1+     475     Reaffirmed
Tv18 Broadcast Ltd                      CP Programme 750.0    ICRA A1+     7500    Reaffirmed
Vidarbha Industries Powerltd            Working Capital Fac   ICRA A4+     5000    Revised from
                                        (CC/WCDL)                                  ICRA A2+
Vidarbha Industries Powerltd            Non-FBL (B/G and L/C) ICRA A4+     2000    Revised from
                                                                                   ICRA A2+
Hero Fincorp Ltd                        ST Bk Limits          ICRA A1+     1500    Reaffirmed
Hero Fincorp Ltd                        CP Programme          ICRA A1+     40000   Reaffirmed
Trl Krosaki Refractories Ltd            Non-fund              ICRA A1+     1184    Reaffirmed
                                        Based-Working Capital
                                        Fac
Trl Krosaki Refractories Ltd            CP                    ICRA A1+     750     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Bhuwalka & Sons Pvt Ltd                 LT – Fund Based CC    ICRA BBB-    200     Upgraded
                                                                                   from ICRA BB+
Bhuwalka Castings & Forging             LT – Fund Based CC    ICRA BBB-    70      Upgraded
Pvt Ltd                                                                            from ICRA BB+
Bhuwalka Castings & Forging             LT – Fund Based TL    ICRA BBB-    50      Upgraded
Pvt Ltd                                                                            from ICRA BB+
Bhuwalka Castings & Forging             LT – Unallocated      ICRA BBB-    20      Upgraded
Pvt Ltd                                                                            from ICRA BB+
Coirfoam India Pvt Ltd                  LT: Fund Based- CC    ICRA B+      70      -
*Issuer did not co-operate; based on best available information.
Ctbc Bank Co., Ltd.                     Issuer Rating         ICRA AAA     -       Assigned
Deccan Alloys Pvt Ltd                   LT – Fund Based CC    ICRA BBB-    140     Upgraded
                                                                                   from ICRA BB+
Eicher Motors Ltd                       LT FB Fac             ICRA AAA     450     Reaffirmed
Eicher Motors Ltd                       LT Unallocated        ICRA AAA     200     Reaffirmed
Eicher Motors Ltd                       LT/ST Non-FB Fac      ICRA AAA /   1150    Reaffirmed
                                                              ICRA A1+
Firepro Systems Pvt Ltd                 Unallocated           ICRA BB /    300     Assigned
                                                              ICRA A4+
Gmr Tambaram Tindivanam                 TL                    ICRA BB+     1092.3  Revised from
Expressways Ltd                                                                    ICRA BBB-
Gmr Tambaram Tindivanam                 Non-fund Based – BG   ICRA BB+     1050    Revised from
Expressways Ltd                                                                    ICRA BBB-
Gmr Tuni Anakapalli                     TL                    ICRA BB+     855.9   Revised from
Expressways Ltd                                                                    ICRA BBB-
Gmr Tuni Anakapalli                     Non-fund Based – BG   ICRA BB+     450     Revised from
Expressways Ltd                                                                    ICRA BBB-
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 465.3   Reaffirmed
Mortgage Hl Trust Dec 2016
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 744.3   Reaffirmed
Mortgage Hl Trust June 2016
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 504.9   Reaffirmed
Mortgage Hl Trust Sep 2016
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 615.5   Reaffirmed
Mortgage Lap Trust Dec 2016
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 630.6   Reaffirmed
Mortgage Lap Trust June 2016
Iifl Home Finance Ltd-Elite             PTC Series A          ICRA AAA(SO) 583.6   Reaffirmed
Mortgage Lap Trust Sep 2016
Iifl Home Finance                       PTC Series A          ICRA AAA(SO) 3879.3  Reaffirmed
Ltd-Solitaire Mortgage - 1
Trust March 2017
Iifl Home Finance                       PTC Series A          ICRA AAA(SO) 1223.4  Reaffirmed
Ltd-Solitaire Mortgage 2 Trust
42887
India Infoline Finance Ltd              IIFL Mortgage Trust,  ICRA AAA(SO) 1011.3  Reaffirmed
                                        March 2014 PTC Series
                                        A
Indian School Finance Company           NCDs                  ICRA BBB-%   300     Assigned
Pvt Ltd
% Under Rating Watch with Positive Implications
Indian School Finance Company           NCDs                  ICRA BBB-%   1740    outstanding
Pvt Ltd
% Under Rating Watch with Positive Implications
Indian School Finance Company           Bk Lines              ICRA BBB-%   400     outstanding
Pvt Ltd
% Under Rating Watch with Positive Implications
Indian School Finance Company           Issuer Rating         ICRA BBB-%   -       outstanding
Pvt Ltd
% Under Rating Watch with Positive Implications
Itd Cemindia Jv                         LT (LT) Fund          ICRA A       4850    Assigned
                                        Based-Overdraft       (SO) ^
^The rating is principally based on a corporate guarantee from ITD Cementation India Limited and
an undertaking provided by the guarantor that it would ensure that the related debt obligations
are serviced on or prior to the due date. 
Itd Cemindia Jv                         LT (LT) FB-WC Demand  ICRA BBB+    1250    Assigned
                                        Loan
Lea Associates South Asia Pvt           LT Fund Based         ICRA A+      200     Reaffirmed
Ltd
Lea Associates South Asia Pvt           LT Interchangeable**  ICRA A+      -       Reaffirmed
Ltd
**Interchangeable bank facility is the sub-limit of the Non-fund based bank facilities
Lea Associates South Asia Pvt           LT/ ST Non-Fund Based ICRA A+ /    1200    Reaffirmed
Ltd                                                           ICRA A1
Mandya City Municipal Council           Issuer rating         ICRA BBB-    -       Withdrawn
Mastek Ltd                              LT FB                 ICRA A+      40      Reaffirmed
outlook revised to Positive from Stable
Mastek Ltd                              LT/ST                 ICRA         60      Reaffirmed
                                        fundbased/non-fund    A+/ICRA A1+
                                        based
outlook revised to Positive from Stable
Meenakshi Bright Steel Bars             LT – Fund Based CC    ICRA BBB-    250     Upgraded
Pvt Ltd                                                                            from ICRA BB+
Mochiko Shoes                           Fund based -CC        ICRA BBB-    40      Withdrawn
Mochiko Shoes                           Fund based -TL        ICRA BBB-    15      Withdrawn
Mochiko Shoes                           Unallocated           ICRA BBB-    45      Withdrawn
Mochiko Shoespvt Ltd                    Fund based -CC        ICRA BBB-    127.5   Withdrawn
Mochiko Shoespvt Ltd                    Fund based -TL        ICRA BBB-    12.3    Withdrawn
Mochiko Shoespvt Ltd                    Unallocated           ICRA BBB-    49.2    Withdrawn
Munjal Auto Industries Ltd              LT Fund based/ CC     ICRA AA-     150     Reaffirmed
Munjal Auto Industries Ltd              LT Fund based TL      ICRA AA-     286.7   Reaffirmed
Munjal Auto Industries Ltd              LT/ ST Unallocated    ICRA AA- /   554     Reaffirmed
                                                              ICRA A1+
Mysuru City Corporation                 Issuer rating         -            -       Withdrawn
Network18 Media & Investments           Borrowing Programme   ICRA AAA     5000    Reaffirmed
Ltd                                     (Bk Loan / NCD
Network18 Media & Investments           LT / ST, FB /NFB Fac  ICRA AAA /   5000    Reaffirmed
Ltd                                                           ICRA A1+
Reliance Power Ltd                      LT NCDs (NCD)         ICRA BB      10000   Revised from
                                                                                   ICRA BBB
*issuer not cooperating for submission of monthly no default statement
Reliance Power Ltd                      LT Loans              ICRA BB      21830^  Revised from
                                                                                   ICRA BBB
^includes ECB of US$ 25 mn,*issuer not cooperating for submission of monthly no default
statement
Reliance Power Ltd                      LT -FBL               ICRA BB      800     Revised from
                                                                                   ICRA BBB
*issuer not cooperating for submission of monthly no default statement
Reliance Power Ltd                      Non FBL (B/G and L/C) ICRA BB /    37120   Revised from
                                                              ICRA A4              ICRA A2
*issuer not cooperating for submission of monthly no default statement
Rosa Power Supply Co. Ltdmotors         TL –LT Scale          ICRA BB+     48670   Revised from
                                                                                   ICRA A-
Rosa Power Supply Co. Ltdmotors         Working Capital Fac   ICRA BB+ /   15540   Revised from
                                        (CC/WCDL)             ICRA A4+             ICRA A- /
                                                                                   ICRA A2+
Rosa Power Supply Co. Ltdmotors         LER limit             ICRA BB+ /   100     Revised from
                                                              ICRA A4+             ICRA A- /
                                                                                   ICRA A2+
Rosa Power Supply Co. Ltdmotors         Non-FBL (B/G and L/C) ICRA BB+ /   1500    Revised from
                                                              ICRA A4+             ICRA A- /
                                                                                   ICRA A2+
Shorapur Solar Power Ltd                Unallocated limits    ICRA BBB-    450     Upgraded to
                                                                                   ICRA BB+
Tide Water Oil Co. (India) Ltd          FB Fac                ICRA AA      575     Reaffirmed
Tv18 Broadcast Ltd                      LT/ST, FB /NFB Fac    ICRA AAA /   3540    Reaffirmed
                                                              ICRA A1+
Vidarbha Industries Powerltd            TL –LT Scale          ICRA BB+     31908^  Revised from
                                                                                   ICRA A-
^includes ECB of US$150mn
Dempo Shipbuilding And                  LT -Fund Based/ CC    ICRA D       80      Downgraded
Engineering Pvt Ltd                                                                from ICRA B
Dempo Shipbuilding And                  LT -Non Fund Based    ICRA D       500     Downgraded
Engineering Pvt Ltd                                                                from ICRA B
Dempo Shipbuilding And                  ST -Interchangeable   ICRA D       *       Downgraded
Engineering Pvt Ltd                                                                from ICRA A4
*Rs. 50.00 crore short-term fund based / non-fund based facility is a sublimit of Rs. 50.00
crore long-term non-fund based facility
Hero Fincorp Ltd                        NCD Programme         ICRA AA+     32000   Reaffirmed
Hero Fincorp Ltd                        Subordinated Debt     ICRA AA+     5000    Reaffirmed
                                        Programme
Hero Fincorp Ltd                        LT Fund Based Bk Fac  ICRA AA+ /   68500   Reaffirmed
                                                              ICRA A1+
Interglobe Hotels Pvt Ltd               LT-Fund based TL      ICRA A       7871    Outstanding
Interglobe Hotels Pvt Ltd               LT-Unallocated        ICRA A       239     Outstanding
Moneywise Financial Services            Bk Lines-LT (Fund     ICRA A-      500     Reaffirmed
Pvt Ltd                                 based/ non-fund based)
Moneywise Financial Services            Bk Lines-LT           ICRA A-      500     Assigned
Pvt Ltd                                 (Unallocated)
Sri Harini Textiles Ltd                 LT: TL                ICRA AA-     152.1   Upgraded
                                                                                   from ICRA A+
Sri Harini Textiles Ltd                 LT: FBL               ICRA AA-     90      Upgraded
                                                                                   from ICRA A+
Sri Harini Textiles Ltd                 LT: Non-FB limits     ICRA AA-     10      Upgraded
                                                                                   from ICRA A+
Sri Harini Textiles Ltd                 LT / ST:              ICRA AA-/A1+ -       Upgraded
                                        Interchangeable                            from ICRA
                                                                                   A+/Reaffirmed
Trl Krosaki Refractories Ltd            FB-Working Capital FacICRA AA-     1870    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)
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