December 21, 2017 / 10:41 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Dec 21

 (Repeating to add additional ratings as of December 20, 2017)
    Dec 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 20, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aryan Enterprise                        Non-FBL               ICRA A4+     400     Withdrawn
Kap Cones Pvt Ltd                       LOC                   ICRA A4+     40      Reaffirmed
Lizzart Granito Llp                     Non-fund based-BG     ICRA A4      32      Assigned
Mahadev Ship Breakers Pvt Ltd           Non-fund Based – LOC  ICRA A4+     400     Upgraded
                                                                                   from ICRA A4
Mahadev Ship Breakers Pvt Ltd           Non-fund Based        ICRA A4+     9       Upgraded
                                        –Credit Exposure Limit                     from ICRA A4
Marine Electricals (I) Pvt Ltd          Non-fund Based – BG   ICRA A2+     1080    Reaffirmed
Marine Electricals (I) Pvt Ltd          Non-fund Based –      ICRA A2+     130     Reaffirmed
                                        Proposed Limits
Naturefresh Industries Ltd              BG                    ICRA A4+     7.7     -
(ISSUER NOT COOPERATING)
Piramal Finance Ltd (Erstwhile          CP                    ICRA A1+     90000   outstanding
Piramal Finance Pvt Ltd)
Rajoo Engineers Ltd                     ST FB Export Packing  ICRA A2      0       Reaffirmed
                                        Credit
Repro India Ltd                         ST (ST) Non-FBL       ICRA A3+     385     Reaffirmed
Satnam Psyllium Industries              Export Packing Credit ICRA A4      100     -
Reason for delay in carrying out periodic review.-Review process is underway
Shiv Corporation                        Non-fund Based – LOC  ICRA A4+     625     Upgraded
                                                                                   from ICRA A4
Shiv Corporation                        Non-fund Based –      ICRA A4+     12.5    Upgraded
                                        Credit Exposure Limit                      from ICRA A4
Shiv Ship Breaking Company              Non-fund Based – LOC  ICRA A4+     440     Upgraded
                                                                                   from ICRA A4
Shiv Ship Breaking Company              Non-fund Based –      ICRA A4+     9.8     Upgraded
                                        Credit Exposure Limit                      from ICRA A4
Sree Jeyasoundharam Textile             ST – Non-fund based   ICRA A4      32.5    Reaffirmed
Mills Pvt Ltd
Sterlite Technologies Ltd               CP                    ICRA A1+     4500    Reaffirmed
Sunfresh Agro Industries Pvt            ST - Non Fund Based – ICRA A1      450     Reaffirmed
Ltd                                     LC/BG
Super Psyllium                          Export Packing Credit ICRA A4      8000    -
Reason for delay in carrying out periodic review.-Review process is underway
Thermax Instrumentation Ltd             ST FB Fac 10.00       ICRA A1+     100     Reaffirmed
Thermax Instrumentation Ltd             ST Non-FB Fac         ICRA A1+     100     Reaffirmed
# -sublimit to the short term fund based facilities
Vaya Finserv Private Limited            MFI Grading           M2                   Assigned

LONG TERM RATINGS:
-------------------
Aditya Rice Industries                  TL                    ICRA B +     28      Reaffirmed
Aditya Rice Industries                  Unallocated Limits    ICRA B +     52      Reaffirmed
Aditya Rice Industries                  CC                    ICRA B+      50      Reaffirmed
Annapurna Microfinance Pvt Ltd          PTC Series A1         ICRA A-(SO)  252.8   confirmed as
                                                                                   final
Asir Automobiles Pvt Ltd                LT, FB Fac            ICRA BB-     50      Reaffirmed
Asir Automobiles Pvt Ltd                LT, TL                ICRA BB-     60.5    Reaffirmed
Asir Automobiles Pvt Ltd                LT, Unallocated       ICRA BB-     9.5     Reaffirmed
Choudhary Gums Amp; Derivatives         BLR                   ICRA B       145     -
Reason for delay in carrying out periodic review. Delayed in giving information
D K Continental                         Proposed Unallocated  ICRA BB+     250     -
                                        Limits
(ISSUER NOT COOPERATING)
Eastmade Spices Amp; Herbs Pvt          Packing Credit Limit  ICRA B       37.5    -
Ltd
Reason for delay in carrying out periodic review.-Review process is underway
Eastmade Spices Amp; Herbs Pvt          TL                    ICRA B       55      -
Ltd
Reason for delay in carrying out periodic review.-Review process is underway
Government Of Telangana                 LT Debt               ICRA A(SO)   50000   Assigned
Entities
(reinstated from Rs. 4,250)
Hari Bhog Foods Pvt Ltd                 FBL                   ICRA BB-     240     revised from
                                                                                   ICRA B
Jd Overseas                             Proposed Unallocated  ICRA BB+     250     -
                                        Limits
(ISSUER NOT COOPERATING)
Kap Cones Pvt Ltd                       CC                    ICRA BB+     120     Reaffirmed
Kap Cones Pvt Ltd                       TL                    ICRA BB+     161.3   Reaffirmed
Kap Cones Pvt Ltd                       LT/ST Unallocated     ICRA         68.1    Reaffirmed
                                                              BB+/ICRA A4+
Khodal Cotton Processing Pvt            Fund based-TL         ICRA B+      1.4     -
Ltd                                                
(ISSUER NOT COOPERATING)
Khodal Cotton Processing Pvt            Fund based-CC         ICRA B+      90      -
Ltd                                                           
(ISSUER NOT COOPERATING)
Krifor Industries Pvt Ltd               Fund based-TL         ICRA B+      262.6   Upgraded
                                                                                   from ICRA B
Krifor Industries Pvt Ltd               Fund based-CC         ICRA B+      200     Upgraded
                                                                                   from ICRA B
Lizzart Granito Llp                     Fund based-TL         ICRA BB-     176     Assigned
Lizzart Granito Llp                     Fund based- CC        ICRA BB-     -       Assigned
includes sublimit of Rs. 3.50 crore of packing credit facility and Rs. 0.45 crore of derivate
facility.
Lizzart Granito Llp                     Unallocated Limits    ICRA BB- /   2       Assigned
                                                              ICRA A4
Mahadev Ship Breakers Pvt Ltd           FB – CC               ICRA BB      50      Upgraded
                                                                                   from ICRA BB-
Mahadev Ship Breakers Pvt Ltd           Unallocated Limits    ICRA BB      51      Upgraded
                                                              /ICRA A4+            from ICRA
                                                                                   BB- / ICRA A4
Marine Electricals (I) Pvt Ltd          FB CC                 ICRA BBB+    300     Reaffirmed
Naturefresh Industries Ltd              TL                    ICRA BB+     50.7    -
(ISSUER NOT COOPERATING)
Naturefresh Industries Ltd              Working Capital       ICRA BB+     40      -
(ISSUER NOT COOPERATING)
Naturefresh Industries Ltd              Proposed Unallocated  ICRA BB+     81.6    -
                                        Limits
(ISSUER NOT COOPERATING)
Piramal Finance Ltd (Erstwhile          LT Bk Fac – Line of   ICRA AA      38750   Assigned
Piramal Finance Pvt Ltd)                3125 Credit/CC
Piramal Finance Ltd (Erstwhile          LT Bk Fac – TL        ICRA AA      89470   Assigned
Piramal Finance Pvt Ltd)
Piramal Finance Ltd (Erstwhile          LT Bk Fac –           ICRA AA      20000   Assigned
Piramal Finance Pvt Ltd)                unallocated
Piramal Finance Ltd (Erstwhile          NCD Programme         ICRA AA      0       Withdrawn
Piramal Finance Pvt Ltd)
Piramal Finance Ltd (Erstwhile          NCD Programme         ICRA AA      67000   outstanding
Piramal Finance Pvt Ltd)
Piramal Finance Ltd (Erstwhile          Subordinated Bond     ICRA AA      10000   outstanding
Piramal Finance Pvt Ltd)                (Tier II) Programme
Pnx Logistics Pvt. Ltd.                 TL                    ICRA         190     Assigned
                                                              BBB+(SO)
Pnx Logistics Pvt. Ltd.                 CC                    ICRA         140     Assigned
                                                              BBB+(SO)
Pnx Logistics Pvt. Ltd.                 TL                    ICRA         190     Assigned
                                                              BBB+(SO)
Rajoo Engineers Ltd                     LT FB CC              ICRA BBB+    180     Reaffirmed
Rajoo Engineers Ltd                     LT FB TL              ICRA BBB+    139     Reaffirmed
Repro India Ltd                         LT (LT) Fund Based-TL ICRA BBB     410     Reaffirmed
Repro India Ltd                         LT Non-FBL            ICRA BBB     50      Reaffirmed
Repro India Ltd                         LT/ST FBL             ICRA BBB /   1700    Reaffirmed
                                                              ICRA A3+
Rmz Infotech Pvt Ltd                    Non convertible bonds ICRA         5500    Assigned
                                                              AA-(SO)
Rmz Infotech Pvt Ltd                    TL FB TL              ICRA         19291   outstanding
                                                              AA-(SO)
Rmz Infratech Pvt Ltd                   Bond programme        ICRA A+(SO)  5500    Withdrawn
S.M. Corporation                        Proposed Unallocated  ICRA BB+     400     Withdrawn
                                        Limits                /ICRA A4+
Satnam Psyllium Industries              CC Limit              ICRA BB-     30      -
Reason for delay in carrying out periodic review.-Review process is underway
Satnam Psyllium Industries              Standby Limit         ICRA BB-     20      -
Reason for delay in carrying out periodic review.-Review process is underway
Shiv Corporation                        FB – CC               ICRA BB      60      Upgraded
                                                                                   from ICRA BB-
Shiv Corporation                        Unallocated Limits    ICRA BB      202.5   Upgraded
                                                              /ICRA A4+            from ICRA
                                                                                   BB- / ICRA A4
Shiv Ship Breaking Company              FB – CC               ICRA BB      50      Upgraded
                                                                                   from ICRA BB-
Shree Venkatesh Films Pvt Ltd           Bk Fac                ICRA BBB+    100     -
                                                              / ICRA A2+
Reason for delay in carrying out periodic review--Review process is underway
Shri Ram Rice Mills                     FBL                   ICRA BB-     650     revised from
                                                                                   ICRA B+
Sree Jeyasoundharam Textile             LT – Fund based       ICRA C       230.7   Reaffirmed
Mills Pvt Ltd
Sree Jeyasoundharam Textile             LT Interchangeable^   ICRA C       -10     Reaffirmed
Mills Pvt Ltd
Sree Jeyasoundharam Textile             LT Unallocated        ICRA C       13.3    Reaffirmed
Mills Pvt Ltd
Sterlite Technologies Ltd               NCD Programme         ICRA AA-     1500    Reaffirmed
Sterlite Technologies Ltd               Fund based-TL         ICRA AA-     3000    Reaffirmed
Sterlite Technologies Ltd               Fund based- Working   ICRA AA-     7900    Reaffirmed
                                        Capital Fac
Sterlite Technologies Ltd               Non-FBL               ICRA         28850   Reaffirmed
                                                              AA-/ICRA A1+
Sunfresh Agro Industries Pvt            LT - Fund Based- CC / ICRA A+      2100    Reaffirmed
Ltd                                     WCDL
Sunfresh Agro Industries Pvt            LT / ST – Unallocated ICRA A+ /    200     Reaffirmed
Ltd                                                           A1
Super Psyllium                          CC Limit              ICRA BB-     30      -
Reason for delay in carrying out periodic review.-Review process is underway
Super Psyllium                          Standby Limit         ICRA BB-     16      -
Reason for delay in carrying out periodic review.-Review process is underway
Surat Wovensacks Industries Llp         Fund based-TL         ICRA B+      86      Upgraded
                                                                                   from ICRA B
Surat Wovensacks Industries Llp         Fund based- Working   ICRA B+      50      Upgraded
                                        Capital Fac                                from ICRA B
Telangana Drinking Water                LT Bond               ICRA A (SO)  7500    Withdrawn
Supply Corporation Ltd
Thermax Instrumentation Ltd             LT FB Fac 20.00       ICRA AA-     200     Reaffirmed
Uti Asset Management Company            UTI Capital           ICRA                 Assigned
Pvt Ltd                                 Protection Series X - AAAmfs(SO)
                                        Plan 1
Uti Asset Management Company            UTI Capital           ICRA                 Assigned
Pvt Ltd                                 Protection Series X - AAAmfs(SO)
                                        Plan 2
Uti Asset Management Company            UTI Capital           ICRA                 Assigned
Pvt Ltd                                 Protection Series X - AAAmfs(SO)
                                        Plan 3
Viswateja Cotton Industries             LT - Fund Based-CC    ICRA B       30      Withdrawn
Viswateja Cotton Industries             LT - Fund Based- TL   ICRA B       26.7    Withdrawn
Viswateja Cotton Industries             LT - Unallocated      ICRA B       18.3    Withdrawn
--------------------------------------------------------------------------------------------
$: 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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