December 27, 2018 / 11:29 AM / in 5 months

RPT-ICRA ratings for Indian debt instruments-Dec 27

 (Repeating to add more ratings.)
    Dec 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 26, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ambadi Investments Pvt Ltd              CP                    ICRA A1+     300     Withdrawn
Britto Sea Foods Exports Pvt            ST – FB               ICRA A4      25      Reaffirmed
Ltd
Britto Sea Foods Exports Pvt            ST – Unallocated      ICRA A4      10      Reaffirmed
Ltd
Dynamatic Technologies Ltd              Non-FBL – Sub limit   ICRA A2      230     Reaffirmed
Dynamatic Technologies Ltd              Non-FBL               ICRA A2      -       Reaffirmed
Engineering Course Of Iem               Engineering Course    ICRA EG 4+   -       Reaffirmed
College                                                       IN / ICRA
                                                              EG 2+ WB
Engineering Course Of Uem               Engineering Course    ICRA EG 3+   -       Reaffirmed
Jaipur                                                        IN /ICRA EG
                                                              2 RJ
Engineering Course Of Uem               Engineering Course    ICRA EG 4+   -       Reaffirmed
Kolkata                                                       IN /ICRA EG
                                                              3 WB
G R Thanga Maligai (Firm)               ST: Fund based /      ICRA A1+     -       Reaffirmed
                                        non-fund based
                                        sub-limits
G R Thanga Maligai And Sons             ST: Fund based / non  ICRA A1+     -       Reaffirmed
                                        fund based sub-limits
Grt Jewellers (India) Pvt Ltd           ST: FBL               ICRA A1+     500     Reaffirmed
Grt Jewellers (India) Pvt Ltd           ST: Non-FBL           ICRA A1+     1350    Reaffirmed
Grt Jewellers (India) Pvt Ltd           ST: Fund based /      ICRA A1+     -       Reaffirmed
                                        Non-fund based
                                        sub-limits
Grt Jewellers (India) Pvt Ltd           ST: Fund based /      ICRA A1+     -       Reaffirmed
                                        Non-fund based
                                        sub-limits
Harisun Ceramic Pvt. Ltd.               Non-fund Based- BG    ICRA A4      12.5    Reaffirmed
Hpcl-Mittal Energy Ltd                  CP                    ICRA A1+     15000   Reaffirmed
Ifci Ltd                                CP Programme          ICRA A2+     5000    outstanding
Indus Integrated Information            Non-fund based- BG    ICRA A4      4
Management Ltd
Rating continues to be under ‘(Issuer Not Cooperating)’ category
Indus Integrated Information            Non-fund based-       ICRA A4      6
Management Ltd                          Proposed BG
Rating continues to be under ‘(Issuer Not Cooperating)’ category
Jayaraj Fortune Packaging Pvt           ST - Non Fund Based   ICRA A4      50
Ltd
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Kirby Building Systems India            NFBL                  ICRA A1+     4670    Assigned
Pvt Ltd                                                                            /outstanding
Mda Mineral Dhatu (Ap) Pvt Ltd          ST- Interchangeable   ICRA A4      0
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Nalari Ferro Alloys Pvt Ltd             Non FBL – BG          ICRA A4      75
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Prabha Auto Products Pvt Ltd            FB: Bill discounting  ICRA A3      180     Upgraded
                                                                                   from ICRA A4+
Prabha Auto Products Pvt Ltd            Non-FB: BG            ICRA A3      10      Upgraded
                                                                                   from ICRA A4+
R.K. Dhabhai Minerals And               ST – Nonfund Based    ICRA D       22.1
Chemicals Pvt Ltd
Continues to remain under the ‘(Issuer Not Cooperating)’ category
S.Subrahmanyan Construction             ST: Non-FB Fac        ICRA A3      250     Reaffirmed
Co. Pvt Ltd
Walplast Products Pvt Ltd               Non-Fund based-LOC    ICRA A3+     10      Withdrawn
Reliance Nippon Life Asset              Reliance Fixed        ICRA A1+mfs  -       Withdrawn
Management Ltd                          Horizon Fund –XXXVII
                                        – Series 7
Reliance Nippon Life Asset              Reliance Fixed        ICRA A1+mfs  -       Withdrawn
Management Ltd                          Horizon Fund – XXXVII
                                        – Series 8
Reliance Nippon Life Asset              Reliance Overnight    ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund
Reliance Nippon Life Asset              Reliance Liquid Fund  ICRA A1+mfs  -       Outstanding
Management Ltd
Reliance Nippon Life Asset              Reliance Money Market ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund
Reliance Nippon Life Asset              Reliance Ultra Short  ICRA A1+mfs  -       Outstanding
Management Ltd                          Duration Fund
Reliance Nippon Life Asset              Reliance Interval     ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund – Quarterly
                                        Interval Fund – Series III
Reliance Nippon Life Asset              Reliance Interval     ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund – Monthly
                                        Interval Fund – Series I
Reliance Nippon Life Asset              Reliance Interval     ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund – Monthly
                                        Interval Fund – Series II
Reliance Nippon Life Asset              Reliance Interval     ICRA A1+mfs  -       Outstanding
Management Ltd                          Fund - Quarterly
                                        Interval Fund - Series II
 
LONG TERM RATINGS:
-------------------
Alva'S Education Foundation             Fund Based – TL       ICRA B+      2000    Withdrawn
(Issuer Not Cooperating)*
Ambati Subbanna & Company Oil           LT CC                 ICRA BB-     80
Firm
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Anand Cranks                            LT-FB Limits          ICRA B+      80
(Issuer Not Cooperating)
Anand Cranks                            ST/LT-FB Limits       ICRA B+      20
(Issuer Not Cooperating)
Anisha Enterprises                      Fund based- CC        ICRA B       -
(Issuer Not Cooperating)
Ascend Green Homes                      Fund Based CC         ICRA B-      99
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Britto Sea Foods Exports Pvt            LT – FB               ICRA BB-     170     Reaffirmed
Ltd
Dynamatic Technologies Ltd              TL                    ICRA BBB+    3690    Reaffirmed
Dynamatic Technologies Ltd              Proposed Limits       ICRA BBB+    0.1     Reaffirmed
Dynamatic Technologies Ltd              FB Limits             ICRA BBB+    -       Reaffirmed
Fedora Sea Foods Pvt Ltd                Fund based- TL        ICRA B+      100
(Issuer Not Cooperating)
G R Thanga Maligai (Firm)               LT: TL                ICRA A+      718.8   Reaffirmed
G R Thanga Maligai (Firm)               LT / ST: FB limits    ICRA A+      1400    Reaffirmed
                                                              /ICRA A1+
G R Thanga Maligai And Sons             LT: TL                ICRA A+      757.5   Reaffirmed
G R Thanga Maligai And Sons             LT / ST: FBL          ICRA A+      2000    Reaffirmed
                                                              /ICRA A1+
G U Financial Services (P) Ltd.         TL                    ICRA BB-     220     Reaffirmed
Grt Jewellers (India) Pvt Ltd           LT: TL                ICRA A+      1253.3  Reaffirmed
Grt Jewellers (India) Pvt Ltd           LT / ST: FBL          ICRA A+      10500   Reaffirmed
                                                              /ICRA A1+
Grt Silverwares                         LT: TL                ICRA A+      239.5   Reaffirmed
Grt Silverwares                         LT / ST: FB limits    ICRA A+      50      Reaffirmed
                                                              /ICRA A1+
Habib Textiles Pvt. Ltd.                LT – Fund Based       ICRA B+      100
Rating moved to ‘(Issuer Not Cooperating)’ Category
Harisun Ceramic Pvt. Ltd.               FB- TL                ICRA B+      62.1    Reaffirmed
Harisun Ceramic Pvt. Ltd.               FB- CC                ICRA B+      30      Reaffirmed
Hpcl-Mittal Energy Ltd                  LT Bond Programme     ICRA AA+     10200   Upgraded
                                                                                   from ICRA AA
Hpcl-Mittal Pipelines Ltd               LT Bond Programme     ICRA AA+     2230    Upgraded
                                                                                   from ICRA AA
Ifci Ltd                                FB Bk Limits          ICRA BBB+    100000  outstanding
Ifci Ltd                                LT Bonds (including   ICRA BBB+    40280.8*outstanding
                                        Subordinated Debt)
*Outstanding as on March 31, 2018
Ifci Ltd                                Bonds/NCD (NCD)       ICRA BBB+    20000   outstanding
                                        Programme
IL Jin Electronics (India) Pvt          LT: Fund Based- CC    ICRA BB      137.5   Withdrawn
Ltd
(Issuer Non-Cooperation)
IL Jin Electronics (India) Pvt          LT: Fund Based- TL    ICRA BB      35      Withdrawn
Ltd
(Issuer Non-Cooperation)
IL Jin Electronics (India) Pvt          Long/ ST: Unallocated ICRA BB /    57.5    Withdrawn
Ltd                                                           ICRA A4
(Issuer Non-Cooperation)
Indus Integrated Information            FB -CC                ICRA B+      30      Assigned
Management Ltd                                                                     from ICRA BB-
(Issuer Non-Cooperation)
Indus Integrated Information            FB -Proposed CC       ICRA B+      60      Assigned
Management Ltd                                                                     from ICRA
                                                                                   BB-  
(Issuer Non-Cooperation)
Indus Integrated Information            FB -Proposed TL       ICRA B+      30      Assigned
Management Ltd                                                                     from ICRA
                                                                                   BB- 
(Issuer Non-Cooperation)
Jayaraj Fortune Packaging Pvt           LT - Fund Based/ CC   ICRA BB-     50
Ltd
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Kirby Building Systems India            Fund Based CC Limits  ICRA AA-     130     outstanding
Pvt Ltd
Kirby Building Systems India            Unallocated Limits    ICRA AA-     30      outstanding
Pvt Ltd                                                       /ICRA A1+
M.K. Wood India Pvt Ltd                 No Default Statement’ ICRA BB-     -
                                        (“NDS”)               /ICRA A4
Removed from the (Issuer Not Cooperating) category
Mallikarjuna Parboiled Binny            LT CC                 ICRA B+      50
Rice Mill
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Mallikarjuna Parboiled Binny            LT-TL                 ICRA B+      9.7
Rice Mill
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Mallikarjuna Parboiled Binny            Unallocated           ICRA B+/A4   15.3
Rice Mill
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Mana Projects Pvt Ltd                   Unallocated Limits    -            0       -
Mana Projects Pvt Ltd                   FB-TL                 ICRA BB+     1500    Reaffirmed -
Mda Mineral Dhatu (Ap) Pvt Ltd          LT CC                 ICRA C+      50
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Mda Mineral Dhatu (Ap) Pvt Ltd          LT-TL                 ICRA C+      60
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Mda Mineral Dhatu (Ap) Pvt Ltd          LT-Non-Fund Based     ICRA C+      25
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Nalari Ferro Alloys Pvt Ltd             FBL – TL              ICRA B-      57      Reassigned
                                                                                   from ICRA B+
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Nalari Ferro Alloys Pvt Ltd             FBL – CC              ICRA B-      32.5    Reassigned
                                                                                   from ICRA B+
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Nalari Ferro Alloys Pvt Ltd             Untied Limits         ICRA B-      5.5     Reassigned
                                                              /ICRA A4             from ICRA B+
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
National Insurance Co. Ltd              Subordinated Debt     ICRA AA      8950    Downgraded
                                        Programme                                  from ICRA AA+
Pan India Infraprojects Pvt Ltd         Long-TL               ICRA BBB-    6410    Revised from
                                                                                   ICRA BBB
Pan India Infraprojects Pvt Ltd         LT, Unallocated LimitsICRA BBB-    5590    Revised from
                                                                                   ICRA BBB
Prabha Auto Products Pvt Ltd            FB: CC                ICRA BBB-    60      Assigned
R.K. Dhabhai Minerals And               LT - Fund Based/TL    ICRA D       14.1
Chemicals Pvt Ltd
Continues to remain under the ‘(Issuer Not Cooperating)’ category
R.K. Dhabhai Minerals And               LT - Fund Based/ CC   ICRA D       30
Chemicals Pvt Ltd
Continues to remain under the ‘(Issuer Not Cooperating)’ category
S.Subrahmanyan Construction             LT, FB Fac            ICRA BBB-    150     Reaffirmed
Co. Pvt Ltd
Sandor Life Sciences Pvt Ltd            NCD                   ICRA B-      350
Reason for delay in carrying out periodic review: - Review process is underway
Sb Urbanscapes                          LT- Unallocated       ICRA B       200
                                        Limits
Reason for delay in carrying out periodic review: (Issuer Not Cooperating)
School Book Company                     LT- CC                ICRA B+      60      Reaffirmed
School Book Company                     LT- TL                ICRA B+      30      Reaffirmed
Tamil Nadu Urban Development            Term-loan (proposed)  Provisional  1000    Withdrawn
Fund                                                          ICRA A(SO)
Vasavi Food Processing                  LT CC                 ICRA B-      40
Industries
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Vasavi Food Processing                  LT-TL                 ICRA B-      31.2
Industries
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Vasavi Food Processing                  Unallocated           ICRA B-      28.8
Industries
Rating continue to remain in ‘(Issuer Not Cooperating)’ category
Velko Infratek Projects Pvt Ltd         LT - Fund Based/ CC   ICRA BB      40
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Velko Infratek Projects Pvt Ltd         LT - Non Fund Based   ICRA BB      150
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Velko Infratek Projects Pvt Ltd         LT / ST - Unallocated ICRA         10
                                                              BB/ICRA A4
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Walplast Products Pvt Ltd               Fund based-CC         ICRA BBB     40      Withdrawn
Reliance Nippon Life Asset              Reliance Bking & PSU  ICRA AAAmfs  -       Outstanding
Management Ltd                          Debt Fund
Reliance Nippon Life Asset              Reliance Dynamic Bond ICRA AAAmfs  -       Outstanding
Management Ltd                          Fund
Reliance Nippon Life Asset              Reliance Floating     ICRA AAAmfs  -       Outstanding
Management Ltd                          Rate Fund
Reliance Nippon Life Asset              Reliance Income Fund  ICRA AAAmfs  -       Outstanding
Management Ltd
Reliance Nippon Life Asset              Reliance Low Duration ICRA AAAmfs  -       Outstanding
Management Ltd                          Fund
Reliance Nippon Life Asset              Reliance Prime Debt   ICRA AAAmfs  -       Outstanding
Management Ltd                          Fund
Reliance Nippon Life Asset              Reliance ST Fund      ICRA AAAmfs  -       Outstanding
Management Ltd
Reliance Nippon Life Asset              Reliance Strategic    ICRA AAmfs   -       Outstanding
Management Ltd                          Debt Fund
Reliance Nippon Life Asset              Reliance Capital      Provisional  -       Outstanding
Management Ltd                          Protection Oriented   ICRA
                                        Fund I – Plan A       AAAmfs(SO)
Reliance Nippon Life Asset              Reliance Capital      Provisional  -       Outstanding
Management Ltd                          Protection Oriented   ICRA
                                        Fund I – Plan B       AAAmfs(SO)
Sumadhura Infracon Pvt Ltd              Unallocated Limits    -            -       -
Sumadhura Infracon Pvt Ltd              Fund based-TL         ICRA BBB     3050    Reaffirmed
outlook revised from stable 
--------------------------------------------------------------------------------------------
$: 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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