December 18, 2017 / 12:01 PM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Dec 18

 (Repeating to add additional ratings)
    Dec 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 15, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A.R Dairy Food Pvt Ltd                  FB Fac                ICRA A4+     10      -
ISSUER NOT COOPERATING
A.R Dairy Food Pvt Ltd                  Non-fund based        ICRA A4+     11      -
ISSUER NOT COOPERATING
Ace Designers Ltd                       ST FB Fac             ICRA A1+     150     Reaffirmed
Apr Constructions Ltd                   Non-fund Based - BG   ICRA A4+     1200    Reaffirmed
Removed from the Issuer Not Cooperating category
Apr Constructions Ltd                   Unallocated Limits    ICRA A4+     125     Reaffirmed
Removed from the Issuer Not Cooperating category
Den Networks Ltd                        Non-fund Based        ICRA A1      150     Upgraded
                                        Working Capital Fac                        from ICRA A2+
Gruh Finance Ltd                        CP Programme          ICRA A1+     55000   Reaffirmed
Gumpro Drilling Fluids Pvt Ltd          Fund based-           ICRA A3+     100     Reaffirmed
                                        EPC/PCFC/SLOC
Gumpro Drilling Fluids Pvt Ltd          Non-fund based-       ICRA A3+     50      Reaffirmed
                                        LC/BG/Forward
                                        Contracts
H.G. Infra Engineering Pvt Ltd          Non-fund based-BG     ICRA A2+     4405    Reaffirmed
H.G. Infra Engineering Pvt Ltd          Non-fund              ICRA A2+     3100    Reaffirmed
                                        based-Proposed BG
Jamshedpur Continuous                   CP/ST NCD             ICRA A1+     17500   Reaffirmed
Annealing Amp; Processing Co
Pvt Ltd
Jamshedpur Continuous                   CP/ST NCD             ICRA A1+     1750    Reaffirmed
Annealing Amp; Processing Co.
Pvt. Ltd
Komal Foods Pvt Ltd                     Non - FBL             ICRA A1      -       Withdrawn
Kyungshin Industrial Motherson          NFBL                  ICRA A1+     50      Reaffirmed
Ltd
Kyungshin Industrial Motherson          CP/ST Debt Programme  ICRA A1+     50      Reaffirmed
Ltd
Majesco Software Amp;                   ST, FB Limits         ICRA A2+     130     Reaffirmed
Solutions India Pvt Ltd
Majesco Software Amp;                   ST, FB Limits         ICRA A2+     130     Reaffirmed
Solutions India Pvt Ltd
Maples Great Day Foods Pvt Ltd          Non - FBL             ICRA A3+     -       Withdrawn
Sharavathy Conductors Pvt Ltd           ST Non-Fund Based     ICRA A3      730     Upgraded
                                                                                   from ICRA A4+
Sharekhan Bnp Paribas                   CP programme (for     ICRA A1+     20000   Withdrawn
Financial Services Pvt Ltd              IPO financing)
Sharekhan Bnp Paribas                   CP programme          ICRA A1+     10000   outstanding
Financial Services Pvt Ltd
Smartchem Technologies Ltd              Non-FBL               ICRA A1+     9500    Assigned
(enhanced from 100.0 to 1,050.0crs)
Smartchem Technologies Ltd              CP                    ICRA A1+     10000   Assigned
Sun Pharma Laboratories Ltd             CP Programme          ICRA A1+     30000   Reaffirmed
Sun Pharma Laboratories Ltd             ST, FB / Non-fund     ICRA A1+     2000    Reaffirmed
                                        based Bk Fac
Sun Pharmaceutical Industries           CP programme          ICRA A1+     40000   Reaffirmed
Ltd
Sun Pharmaceutical Industries           ST, FB / non-fund     ICRA A1+     20000   Reaffirmed
Ltd                                     based Bk Fac
Vns Finance Amp; Capital                ST non-fund based Bk  ICRA A4      150     Reaffirmed
Services Ltd                            Fac
Vns Finance Amp; Capital                ST non-fund based Bk  ICRA A4      150     Reaffirmed
Services Ltd                            Fac



MEDIUM TERM RATINGS:
-------------------
Gruh Finance Ltd                        Fixed Deposits        MAAA         -       Reaffirmed
                                        Programme



LONG TERM RATINGS:
-------------------
A.R Dairy Food Pvt Ltd                  TL                    ICRA BB+     85.3    -
ISSUER NOT COOPERATING
A.R Dairy Food Pvt Ltd                  FB Fac                ICRA BB+     140     -
ISSUER NOT COOPERATING
A.R Dairy Food Pvt Ltd                  Proposed Fac          ICRA BB+     32.2    -
ISSUER NOT COOPERATING
Accura Organic Foods                    -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Ace Designers Ltd                       LT FB Fac             ICRA AA-     200     Reaffirmed
Aditya Automobiles Spares Pvt           -                     -            -       ISSUER NOT
Ltd                                                                                COOPERATING
Due to Non Submission of No Default Statement (NDS)
Al Gyas Exports Pvt Ltd                 -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Amit Buildwell Pvt Ltd                  LT FB                 ICRA B+      50      Withdrawn
ISSUER NOT COOPERATING
Amit Buildwell Pvt Ltd                  LT unallocated        ICRA B+      10      Withdrawn
ISSUER NOT COOPERATING
Amit Buildwell Pvt Ltd                  LT/ST nonfund based   ICRA B+ /    40      Withdrawn
                                                              ICRA A4
ISSUER NOT COOPERATING
Apr Constructions Ltd                   Fund based - CC       ICRA BB+     175     Reaffirmed
Removed from the Issuer Not Cooperating category
Arihantanam Life Care Pvt Ltd           -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Assetz Whitefield Homes Pvt Ltd         Proposed NCD          Provisional  1650    Withdrawn
                                                              ICRA BB+(SO)
Auto Hi-Tech Pvt Ltd                    -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Brightstar Infrastructure Pvt           -                     -            -       ISSUER NOT
Ltd                                                                                COOPERATING
Due to Non Submission of No Default Statement (NDS)
Brij Gopal Construction                 LT: FBL               ICRA BBB     500     -
Company (P) Ltd
Brij Gopal Construction                 LT: NFBL              ICRA BBB     1500    -
Company (P) Ltd
Cargo Motors (Gujarat) Pvt Ltd          BLR                   ICRA BBB     1000    -
ISSUER NOT COOPERATING
Chiddarwar Construction                 -                     -            -       ISSUER NOT
Company Pvt Ltd                                                                    COOPERATING
Due to Non Submission of No Default Statement (NDS)
Den Networks Ltd                        FB TL                 ICRA A       5193    Upgraded
                                                                                   from ICRA A-
Den Networks Ltd                        FB Working Capital FacICRA A       1050    Upgraded
                                                                                   from ICRA A-
Den Networks Ltd                        Unallocated Limits    ICRA A / A1  99      Upgraded
                                                                                   from ICRA
                                                                                   A-/ ICRA A2+
Enertech Engineering Pvt Ltd            -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Fortis Healthcare Holdings Pvt          -                     -            -       ISSUER NOT
Ltd                                                                                COOPERATING
Due to Non Submission of No Default Statement (NDS)
Ganapathi Stone Crusher                 -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Gav Agro Pvt Ltd                        -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Gowthami Spintex India Ltd              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Gruh Finance Ltd                        LT Debt Programme     ICRA AAA     44470   Reaffirmed
Gruh Finance Ltd                        Subordinated Debt     ICRA AAA     350     Reaffirmed
                                        Programme
Gumpro Drilling Fluids Pvt Ltd          Fund based- TL        ICRA BBB     86.3    Reaffirmed
Gumpro Drilling Fluids Pvt Ltd          Fund based- Working   ICRA BBB     45      Reaffirmed
                                        Capital Fac
Guru Kirana Motors                      -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
H R Builders                            -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
H.G. Infra Engineering Pvt Ltd          Fund based-CC         ICRA A-      920     Reaffirmed
H.G. Infra Engineering Pvt Ltd          Fund based- CC        ICRA A-      180     Reaffirmed
                                        (Proposed)
Hdfc Asset Management Co. Ltd           HDFC Capital          ICRA AAAmfs  -       Withdrawn
                                        Protection Oriented
                                        Fund Series III (Plan 1)
Hdfc Asset Management Co. Ltd           HDFC Capital          ICRA AAAmfs  -       outstanding
                                        Protection Oriented
                                        Fund Series III (Plan 2 and Plan 3)
Hrm Overseas                            -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Ibex Engineering Pvt Ltd                -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
India Dairy Products Ltd                -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Jai Laxmi Cement Company Pvt            -                     -            -       ISSUER NOT
Ltd                                                                                COOPERATING
Due to Non Submission of No Default Statement (NDS)
Javin Construction Pvt Ltd              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Jaylaxmi Poly Plast                     -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
K. Prasad Babu                          Fund based            ICRA B       60      Issuer Not
                                                                                   Cooperating
K. Prasad Babu                          Non Fund based Sl.    ICRA B       20      Issuer Not
                                                                                   Cooperating
Kamarajar Port Ltd                      LT; TFBs              ICRA AA      5000    Reaffirmed
Karun Rice Amp; General Mills           -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Kkrc Infrastructure Pvt Ltd             -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Komal Foods Pvt Ltd                     Fund - based Limits   ICRA A+      -       Withdrawn
Kuna Impex Pvt Ltd                      -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Kyungshin Industrial Motherson          LT FBL                ICRA AA      150     Upgraded
Ltd                                                                                from ICRA AA-
Kyungshin Industrial Motherson          Proposed FBL          ICRA AA      367.4   Upgraded
Ltd                                                                                from ICRA AA-
Laxmi Balaji Industries                 -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Maa Kali Alloys Udyog Pvt Ltd           -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Magnasoft Consulting India Pvt          -                     -            -       ISSUER NOT
Ltd                                                                                COOPERATING
Due to Non Submission of No Default Statement (NDS)
Majesco Software Amp;                   LT/ST, FB Limits      ICRA A- /    200     Reaffirmed
Solutions India Pvt Ltd                                       ICRA A2+
Majesco Software Amp;                   LT/ST, Unallocated    ICRA A- /    185     Reaffirmed
Solutions India Pvt Ltd                 Limits                ICRA A2+
Majesco Software Amp;                   LT/ST, FB Limits      ICRA A- /    200     Reaffirmed
Solutions India Pvt Ltd                                       ICRA A2+
Majesco Software Amp;                   LT/ST, Unallocated    ICRA A- /    185     Reaffirmed
Solutions India Pvt Ltd                 Limits                ICRA A2+
                                        
Malankara Plantations Ltd               LT, FB Fac            ICRA BB+     155     ISSUER NOT
                                                                                   COOPERATING
Rating moved to the Issuer Not Cooperating category
Manbhum Ispat Pvt Ltd                   -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Manikanta Cotton Agro                   -                     -            -       ISSUER NOT
Industries                                                                         COOPERATING
Due to Non Submission of No Default Statement (NDS)
Manubhai Mangaldas Securities           -                     -            -       ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Due to Non Submission of No Default Statement (NDS)
Maples Great Day Foods Pvt Ltd          TL                    ICRA BBB     -       Withdrawn
Maples Great Day Foods Pvt Ltd          Fund - based Limits   ICRA BBB     -       Withdrawn
Maruti Ginning And Pressing             -                     -            -       ISSUER NOT
Industries                                                                         COOPERATING
Due to Non Submission of No Default Statement (NDS)
Meghnad Saha Institute Of               -                     -            -       ISSUER NOT
Technology                                                                         COOPERATING
Due to Non Submission of No Default Statement (NDS)
Mizoram Ispat Industries                -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Modern Agro Mills                       -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Mutha Industries Pvt Ltd                -                     ICRA B/      -       No Default
                                                              ICRA A4              Statement
Removed from the Issuer Not Cooperating category
Naba Diganta Water Management           BLR                   ICRA BBB+    -       -
Ltd
Naba Diganta Water Management           BLR                   ICRA BBB+    -       -
Ltd
Nandi Housing Pvt Ltd                   Fund based – TL       ICRA BB+     750     Assigned
Nice Sesame Agro Industries             -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Omkar Fabrics Pvt Ltd                   -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Palakkad Municipality                   -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Patel Inn Amp; Travels Pvt Ltd          -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Patron Industries Pvt Ltd               -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Pooshya Exports Pvt Ltd                 -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Prapalsha Agros Ltd                     -                     ICRA B+      -       No Default
                                                                                   Statement
Removed from the Issuer Not Cooperating category
Prestige Metallics Pvt Ltd              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Prn Infratech (Erstwhile P. R.          LT: FB Working 28     ICRA BBB-    280     Reaffirmed
Nayak Associates).                      Capital Limits
Prn Infratech (Erstwhile P. R.          LT: Non-Fund based    ICRA BBB-    450     Reaffirmed
Nayak Associates).                      Working 45 Capital
                                        Limits
Radiant Solar Pvt Ltd                   -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Rameshwar Industries                    -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Religare Finvest Ltd - Divine           PTC Series B          ICRA AA-     -       Reaffirmed
Lap Securitisation Series I
Trust 2013
Religare Finvest Ltd - Divine           PTC Series A          ICRA AAA     -       Reaffirmed
Lap Securitisation Series I
Trust 2013
Religare Finvest Ltd - Divine           PTC Series B          ICRA AAA     -       Reaffirmed
Lap Securitisation Series I
Trust 2013
Religare Finvest Ltd - Divine           PTC Series A          ICRA AAA     -       Reaffirmed
Lap Securitisation Series Iii
Trust 2013
Religare Finvest Ltd- Divine            PTC Series A          ICRA AAA     -       Reaffirmed
Lap Securitisation
Religare Finvest Ltd -Series            PTC Series B          ICRA AA-     -       Reaffirmed
Iii Trust 2013
Religare Finvest Ltd-Divine             PTC Series A          ICRA AAA     -       Reaffirmed
Lap Securitisation
Religare Finvest Ltd-Series I           PTC Series B          ICRA AA-     -       Reaffirmed
Trust 2013
Riddhi Siddhi Cotfiber Pvt Ltd          -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Rmv Resort Amp; Hotels Pvt Ltd          TL                    ICRA BBB-    2000    Withdrawn
Rmv Resort And Hotels Pvt Ltd           TL                    ICRA BBB-    -       Withdrawn
Rolex Lanolin Products Ltd              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Rolex Lanolin Products Ltd              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
S S Cotton Industries Pvt Ltd           -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Sahastraa Exports Pvt Ltd               Bk Loan               ICRA BB-/    225     -
                                                              ICRA A4
Saija Finance Pvt Ltd                   Fund based-TL         ICRA BBB-    1000    Reaffirmed
Saija Finance Pvt Ltd                   NCD Programme         ICRA BBB-    590     Reaffirmed
Savfab Developers Pvt Ltd               -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Sharavathy Conductors Pvt Ltd           LT Fund Based- CC     ICRA BBB-    104.5   Upgraded
                                                                                   from ICRA BB+
Shree Hans Rice And General             -                     -            -       ISSUER NOT
Mills                                                                              COOPERATING
Due to Non Submission of No Default Statement (NDS)
Siesta Hospitality Services Ltd         Unallocated           ICRA BBB-    1.1     Assigned
Siesta Hospitality Services Ltd         Fund based-TL         ICRA BBB-    350     Assigned
Siesta Hospitality Services Ltd         Fund based- CC        ICRA BBB-    240     Assigned
Singla Forging Pvt Ltd                  -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Siri_Tecon                              -                     -            -       ISSUER NOT
                                                                                   COOPERATING
Due to Non Submission of No Default Statement (NDS)
Smartchem Technologies Ltd              TL                    ICRA AA-     5500    Assigned
Smartchem Technologies Ltd              FBL                   ICRA AA-     8000    Assigned/
(enhanced from 100.0 to 900.0crs)

--------------------------------------------------------------------------------------------
$: 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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