December 26, 2018 / 11:28 AM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Dec 26

 (Repeating to add more ratings)
    Dec 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 24, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adarsh Rice Mill                        Non FBL – Guarantee   ICRA A4      10
Rating continues to remain under ‘Issuer Not Cooperating’ category
Adarsh Rice Mill                        Non FBL – LOC         ICRA A4      15.6
Rating continues to remain under ‘Issuer Not Cooperating’ category
Engineering Course Of Iem               Engineering Course    ICRA EG 2 IN
College
ICRA EG 2+ WB reaffirmed
Engineering Course Of Uem               Engineering Course    ICRA EG 3+
Jaipur                                                        IN
ICRA EG 2 RJ reaffirmed
Engineering Course Of Uem               Engineering Course    ICRA EG 4+
Kolkata                                                       IN
ICRA EG 3 WB reaffirmed
Ever Electronics Pvt Ltd                Non-fund based-BG     ICRA A4      70
Withdrawn; on ratings watch with developing implications
Geetha Timbers                          ST-Non-Fund Fac       ICRA A4      95
Issuer Not Cooperating
Kamakhya Board                          Non-fund Based-       ICRA A4      57.5    Reaffirmed
                                        Inland Import LC cum
                                        Buyers Credit
M J Casting Ltd                         Non-FBL               ICRA A2      15
Review process is underway
Management Course Of Iem                Management Course     ICRA EB 3+
College                                                       IN
ICRA EB 2 WB upgraded from EB 3+ WB
Management Course Of Uem Jaipur         Management Course     ICRA EB 3    -
                                                              IN
ICRA EB 3+ RJ Reaffirmed
Mbr Flexibles Ltd                       Non-fund Based- LOC   ICRA A4      30      Assigned
P. Dasaratharama Reddy                  Non-FB Fac            ICRA A4      80
Issuer Not Cooperating
Pragati Transmission Pvt Ltd            ST-Non-Fund Fac       ICRA A4      5
Issuer Not Cooperating
Prakash Retail Pvt Ltd                  Fund Based            ICRA A4+     180
Issuer delayed in sharing information
Premier Seafoods Exim Pvt Ltd           ST – FB Fac           ICRA A4+     105
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Primo Pick N. Pack Pvt.                 ST- Fund Based        ICRA A4+     -
Ltd.Primo Pick N. Pack Pvt.
Ltd. (Erstwhile Primo Pick N Pack Ltd)
Assigned/ outstanding
Primo Pick N. Pack Pvt.                 ST- Non-Fund Based    ICRA A4+     6.2     outstanding
Ltd.Primo Pick N. Pack Pvt.
Ltd. (Erstwhile Primo Pick N Pack Ltd)
Rashtriya Ispat Nigam Ltd               CP                    ICRA A2+     20000
Review process is underway
Rmp Bearings Ltd                        Inland LC             ICRA A4      1
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Rocky Dhar                              Non-Fund based – BG   ICRA A4      100
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sahaj Solar Pvt. Ltd.                   Non Fund based-BG     ICRA A4      23      Withdrawn
(Issuer Not Cooperating)
Synergy Ski Infradevelopment            ST – Non fund based   ICRA A4+     30
Issuer Not Cooperating
Tata Sponge Iron Ltd                    Non-FBL               ICRA A1+     1481.5
Reaffirmed and removed from ‘watch with developing implications’
Tata Sponge Iron Ltd                    CP programme          ICRA A1+     40000   Assigned
The Indian Electric Company             ST – Fund based –     ICRA A4+     15
                                        Bill discounting
Issuer delayed in giving information
The Indian Electric Company             ST – Non fund based – ICRA A4+     10
                                        LOC/BG
Issuer delayed in giving information
Uma Rani Agrotech Pvt Ltd               Non-Fund based – BG   ICRA A4      2.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Nanotechnologies Ltd             Non FBL – BG          ICRA A4      2.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Spirits Ltd                      CP                    ICRA A1+     15000   Reaffirmed
Veljan Denison Ltd                      Non Fund Based – LOC  ICRA A2      60      Reaffirmed
Vk Building Services Pvt. Ltd.          Non-fund              ICRA A2      810     Withdrawn
                                        Based-Working Capital
                                        Fac

LONG TERM RATINGS:
-------------------
Adarsh Rice Mill                        FBL – TL              ICRA BB-     13.825
Rating continues to remain under ‘Issuer Not Cooperating’ category
Adarsh Rice Mill                        FBL – CC              ICRA BB-     50
Rating continues to remain under ‘Issuer Not Cooperating’ category
Adarsh Rice Mill                        Unallocated Limit     ICRA BB-     0.575
                                                              /ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Aditya Constructions                    LT/ST Unallocated     ICRA B/A4    100
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Advaith Bio Remedies                    FB – CC               ICRA B-      30
Issuer Not Cooperating
Advaith Bio Remedies                    FB – TL               ICRA B-      30
Issuer Not Cooperating
Balprada Hotels And                     Fund based            ICRA D       910
Hospitality Services Pvt Ltd
Rating Reaffirmed and removed from the ‘Issuer Not Cooperating’ category
Balprada Hotels And                     Non-fund based        ICRA D       60
Hospitality Services Pvt Ltd
Rating Reaffirmed and removed from the ‘Issuer Not Cooperating’ category
East Coast Energy Pvt Ltd               TL (LT)               ICRA D*      49270
Continues to remain under Issuer Not Cooperating; *Issuer did not co-operate; based on best
available information.
East Coast Energy Pvt Ltd               Non-Fund based (LT)   ICRA D*      6680
Continues to remain under Issuer Not Cooperating; *Issuer did not co-operate; based on best
available information.
Eldorado Agritech Pvt. Ltd              LT fundbased limits   ICRA BB      98.3
Issuer delayed in giving information
Eldorado Agritech Pvt. Ltd              Unallocated limits    ICRA BB      3.1
Issuer delayed in giving information
Enviro Green Alloys Inc.                LT – FB Fac           ICRA B+      70
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ever Electronics Pvt Ltd                Fund based-TL         ICRA B+      50
Withdrawn; on ratings watch with developing implications
Ever Electronics Pvt Ltd                Unallocated           ICRA B+/     150
                                                              ICRA A4
Withdrawn State; on ratings watch with developing implications
Frank Lifecare Pvt Ltd                  LT - Fund Based TL    ICRA B+      144
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Frank Lifecare Pvt Ltd                  LT - Unallocated      ICRA B+      6
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Geetha Timbers                          LT- FB Fac            ICRA B+      5
Issuer Not Cooperating
Grospinz Fabz Ltd                       LT - Fund Based/ CC   ICRA BB      500
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Grospinz Fabz Ltd                       LT - Fund Based TL    ICRA BB      433.6
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Grospinz Fabz Ltd                       LT / ST - Non Fund    ICRA BB /    6
                                        Based                 ICRA A4+
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Grospinz Fabz Ltd                       LT / ST - Unallocated ICRA BB /    10.4
                                                              ICRA A4+
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Hbs Realtors Pvt Ltd                    NCD programme         ICRA D       535.6
Rating continues to remain under ‘Issuer Not Cooperating’ category
Ina Elite Hospitality Pvt Ltd           FB – TL               ICRA B       100
Issuer Not Cooperating
Indiafirst Life Insurance Co.           Subordinated Debt     ICRA AA      1000
Ltd                                     Programme
Review process is underway
Jmd Ltd                                 Fund based            ICRA D       573.9
Rating Reaffirmed and removed from the ‘Issuer Not Cooperating’ category
Jmd Ltd                                 Non-fund based        ICRA D       96.1
Rating Reaffirmed and removed from the ‘Issuer Not Cooperating’ category
Kamakhya Board                          FB – CC               ICRA B       10      Reaffirmed
Kotadiya Reality                        LT fund based         ICRA BB-     320
Issuer Not Cooperating
M J Casting Ltd                         TL                    ICRA BBB+    259.7
Review process is underway
M J Casting Ltd                         LT/ST fund            ICRA BBB+/A2 150
                                        based/non-FBL
Review process is underway
M J Casting Ltd                         Unallocated           ICRA BBB+/A2 288
Review process is underway
Maa Gauri Poultry Pvt Ltd               Fund based-TL         ICRA B       49
Rating moved to the ‘Issuer Not Cooperating’ category
Maa Gauri Poultry Pvt Ltd               Fund based-CC         ICRA B       41
Rating moved to the ‘Issuer Not Cooperating’ category
Mangala Cashew Industries               Fund Based            ICRA B+      100
Issuer Not Cooperating
Mbr Flexibles Ltd                       FB - TL               ICRA BB-     30.9    Assigned
Mbr Flexibles Ltd                       FB - CC               ICRA BB-     90.2    Assigned
Mbr Flexibles Ltd                       Unallocated           ICRA BB-/    8.9     Assigned
                                                              ICRA A4
Modern Metaalics Pvt. Ltd.              LT FB TL              ICRA B+      30      Assigned
Modern Metaalics Pvt. Ltd.              LT FB CC              ICRA B+      35      Assigned
P. Dasaratharama Reddy                  FB – CC               ICRA B+      20
Issuer Not Cooperating
Parth Cotton & Oil Industries           TL                    ICRA C+      15
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Parth Cotton & Oil Industries           CC                    ICRA C+      50
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Pragati Transmission Pvt Ltd            LT- FB Fac            ICRA B+      45
Issuer Not Cooperating
Prakash Retail Pvt Ltd                  Fund Based            ICRA BB+     170
Issuer delayed in sharing information
Primo Pick N. Pack Pvt.                 LT- Fund Based        ICRA BB+     -       outstanding
Ltd.Primo Pick N. Pack Pvt.
Ltd. (Erstwhile Primo Pick N Pack Ltd)
R R Gold Palace Pvt Ltd                 Fund Based            ICRA BB-     620
Issuer Not Cooperating
R.K. Agro Industries                    BLR                   ICRA B/      61.8
                                                              ICRA A4
Issuer Not Cooperating
Rmp Bearings Ltd                        TL                    ICRA BB      11.2
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Rmp Bearings Ltd                        CC                    ICRA BB      130
Issuer Not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Rocky Dhar                              Fund based- CC        ICRA B       120
Rating continues to remain under ‘Issuer Not Cooperating’ category
Rocky Dhar                              Fund based – Untied   ICRA B       30
Rating continues to remain under ‘Issuer Not Cooperating’ category
S.S. Cotton Industries Pvt Ltd          Fund based- CC        ICRA B+      185
Rating continues to remain under ‘Issuer Not Cooperating’ category
S.S. Cotton Industries Pvt Ltd          Unallocated           ICRA B+      15
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sahaj Solar Pvt. Ltd.                   Fund based- CC        ICRA B+      5       Withdrawn
(Issuer Not Cooperating)
Sahaj Solar Pvt. Ltd.                   Fund based-Corp SME   ICRA B+      14      Withdrawn
                                        liquid Plus Scheme
                                        (CSLPS)
(Issuer Not Cooperating)
Sahaj Solar Pvt. Ltd.                   Fund based-TL         ICRA B+      14.5    Withdrawn
(Issuer Not Cooperating)
Sahaj Solar Pvt. Ltd.                   Fund based-Vehicle    ICRA B+      0.6     Withdrawn
                                        Loan
(Issuer Not Cooperating)
Sahaj Solar Pvt. Ltd.                   Fund                  ICRA B+ /A4  12.9    Withdrawn
                                        based-Unallocated
                                        Limits
(Issuer Not Cooperating)
System Control & Automation             FB Limits – TL        ICRA B+      2.5     Withdrawn
Pvt Ltd
(Issuer Not Cooperating)
System Control & Automation             FB Limits – CC        ICRA B+      37.5    Withdrawn
Pvt Ltd                                 Facility
(Issuer Not Cooperating)
System Control & Automation             Non- FBL – Bk         ICRA B+ /    20      Withdrawn
Pvt Ltd                                 Gaurantee             ICRA A4
(Issuer Not Cooperating)
Santosh Kumar Sharma                    FB                    ICRA BB      100
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Santosh Kumar Sharma                    Non-fund based        ICRA BB      150
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shree Sai Baba Ship Breaking            Bk loans              ICRA         1200
Company                                                       BB/ICRA A4
Review process is underway
Sri Lakshmi Srinivasa Raw &             FB limits             ICRA B+      112.5
Boiled Rice Mill
Issuer delayed in giving information
Sri Lakshmi Srinivasa Raw &             Unallocated limits    ICRA B+      37.5
Boiled Rice Mill                                              /ICRA A4
Issuer delayed in giving information
Sri Vijaya Lakshmi Raw And              LT fundbased limits   ICRA BB-     450
Boiled Rice Mill
Issuer delayed in giving information
Sri Vijaya Lakshmi Raw And              Unallocated limits    ICRA BB-     30
Boiled Rice Mill
Issuer delayed in giving information
Srikar Biotech Pvt. Ltd.                LT fundbased limits   ICRA BB-     122.3
Issuer delayed in giving information
Srikar Biotech Pvt. Ltd.                Unallocated limits    ICRA BB-     4.6
Issuer delayed in giving information
Synergy Ski Infradevelopment            LT – fund based –CC   ICRA BB      70
Issuer Not Cooperating
Tata Sponge Iron Ltd                    Fund Based – Proposed ICRA AA-     -
                                        TL
Revised from ICRA AA& to ICRA AA-/Stable; long-term rating is ‘Withdrawn ’
Tata Sponge Iron Ltd                    Fund Based – CC       ICRA AA-     1100
Downgraded to ICRA AA- from ICRA AA; removed from ‘watch with developing implications’, and
‘Stable’ outlook
The Dharamsi Morarji Chemical           Unallocated Limit     ICRA BBB-/   550     Withdrawn
Co. Ltd                                                       A3
The Indian Electric Company             LT – fund based –CC   ICRA BB      155
Issuer delayed in giving information
The Indian Electric Company             LT/ST - Unallocated   ICRA BB/ A4+ 16
Issuer delayed in giving information
Uma Rani Agrotech Pvt Ltd               Fund based – CC       ICRA C+      22.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
Uma Rani Agrotech Pvt Ltd               Fund based – TL       ICRA C+      31.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
Unitech Mercantile Pvt Ltd              FBL – TL              ICRA B-      120
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Nanotechnologies Ltd             FBL – TL              ICRA B-      30.2
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Nanotechnologies Ltd             FBL – CC              ICRA B-      27
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Nanotechnologies Ltd             Unallocated Limit     ICRA B-      0.3
                                                              /ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
United Spirits Ltd                      NCDs                  ICRA AA+     7500    Reaffirmed
United Spirits Ltd                      LT/ST Fund            ICRA AA+ /   39250   Reaffirmed
                                        Based/Non-fund Based  A1+
Veljan Denison Ltd                      Fund Based-CC         ICRA BBB+    320     Reaffirmed
Veljan Denison Ltd                      Fund Based- TL        ICRA BBB+    120     Reaffirmed
Veljan Denison Ltd                      Non Fund Based – BG   ICRA BBB+    70      Reaffirmed
Vk Building Services Pvt. Ltd.          FB -TL                ICRA BBB+    500     Withdrawn
Vk Building Services Pvt. Ltd.          FB - Working Capital  ICRA BBB+    400     Withdrawn
                                        Fac

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