December 31, 2019 / 10:24 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Dec 31

 (Repeating to add more ratings)
    Dec 31 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 30, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A. S. Export                            Fund based- Working   ICRA A3      300     Reaffirmed
                                        Capital Fac
***Consisted Export Pre-Finance (PC) sub-limit of Rs. 12.00 crore, Export Pre-Finance (PC-DDA)
sub-limit of Rs. 30.00 crore, Direct Export sub-limit of Rs. 30.00 crore and Associate Bill
sub-limit of Rs. 4.50 crore
Adani Transmission Ltd                  CP                    ICRA A1+     10000   Reaffirmed
Aggarwal And Company                    ST-Non-Fund Based     ICRA A4      200     -
Issuer Not Cooperating category
Alliance Polysacks Pvt Ltd              Non-fund Based LOC    ICRA A3      150     -
Reason for delay in carrying out periodic review Issuer delayed in giving information
Alliance Polysacks Pvt Ltd              Non-fund Based BG     ICRA A3      40      -
Reason for delay in carrying out periodic review Issuer delayed in giving information
Amber International                     ST FBL                ICRA A4      50      Withdrawn
Amber International                     ST FBL                ICRA A4      -       Withdrawn
Aquatica Frozen Foods Global            ST FB Fac             ICRA A2+     880     upgraded
Pvt Ltd                                                                            from ICRA A2
Balmer Lawrie & Co. Ltd                 ST – FB Fac1 1        ICRA A1+     -       Reaffirmed
                                        Sub-limit of the CC
                                        Fac
Bti Payments Pvt Ltd                    FB Fac – ST           ICRA A1      4350    Reaffirmed
Chennai Petroleum Corporation           Short -term, CP       ICRA A1+     60000   -
Ltd
Reason for delay in carrying out periodic review: Review process is underway
Cpf (India) Pvt Ltd                     ST fund based         ICRA A3+     3300    Reaffirmed
Cpf (India) Pvt Ltd                     ST unallocated        ICRA A3+     1.1     Reaffirmed
Guru Ashish Shipbreakers                Non-Fund Based-LOC    ICRA A4      660     Withdrawn
Issuer Not Cooperating
Hans Industries Pvt Ltd                 Non-Fund Based-BG     ICRA A4      120     Withdrawn
Issuer Not Cooperating
Hans Industries Pvt Ltd                 Non-Fund Based-LOC^   ICRA A4      -       Withdrawn
^ interchangeable limits,Issuer Not Cooperating
Idfc Asset Management Co. Ltd           IDFC Overnight Fund   ICRA A1+mfs  -       Reaffirmed
Idfc Asset Management Co. Ltd           IDFC Cash Fund        ICRA A1+mfs  -       Reaffirmed
Idfc Asset Management Co. Ltd           IDFC Ultra ST Fund    ICRA A1+mfs  -       Reaffirmed
Inflow Technologies Pvt Ltd             ST – Fund Based       ICRA A2 &    1650    -
placed under watch with developing implications
Inflow Technologies Pvt Ltd             ST – Interchangeable  ICRA A2 &    -       -
placed under watch with developing implications
Inflow Technologies Pvt Ltd             ST – Fund Based /     ICRA A2 &    550     -
                                        Non-Fund Based
placed under watch with developing implications
J.R. Roadlines Pvt. Ltd.                BG                    ICRA A3      20      Withdrawn
Issuer Not Cooperating
Jampana Construction Pvt Ltd            ST - Non Fund Based   ICRA A4      940     Downgraded
                                                                                   from ICRA A4+
Rating continues to remain under ‘Issuer Not Cooperating’ category
L.G. Balakrishnan Amp; Bros Ltd         ST: Non-FB Fac        ICRA A1+     1000    outstanding
Minox Metal Pvt Ltd                     Non-FB Fac            ICRA A4+     200     Reaffirmed
Neogrowth Credit Pvt Ltd                CP Programme          ICRA A2      400     -
Reason for delay in carrying out periodic review: Review process is underway
Pan Agri Export                         Non-FB limits         ICRA A3      40      Withdrawn
Issuer Not Cooperating category
Pan Agri Export                         Interchangeable limitsICRA A3      -       Withdrawn
Issuer Not Cooperating category
Pavan Cotton Products Pvt Ltd           ST - Non Fund Based   ICRA A4      2.4     -
Issuer did not co-operate; based on best available information
Pgim India Asset Management             PGIM India Overnight  ICRA A1+mfs  -       outstanding
Pvt Ltd                                 Fund
Posco Maharashtra Steel Pvt.            CP Programme#         ICRA A1+     8000    Assigned
Ltd.
#: carved out of the existing working capital limit
Ridley Life-Science Pvt Ltd             ST - Non-Fund Based   ICRA A4+     20      -
                                                              (Stable)
*Issuer did not co-operate; based on best available information.
Sakal Media Pvt Ltd                     Non-fund Based –      ICRA A2+     340     Reaffirmed
                                        Working Capital Fac
Sandhya Marines Ltd                     ST: Fund based        ICRA A1      900     Reaffirmed
Sandhya Marines Ltd                     ST: Non Fund based    ICRA A1      105     Reaffirmed
Shraddha Synthetics Pvt Ltd             ST Fund Based         ICRA A4      65      -
Issuer Not Cooperating
Shraddha Synthetics Pvt Ltd             ST Non- Fund Based    ICRA A4      41      -
Issuer Not Cooperating
Shree Madhav Agencies Pvt Ltd           Non-Fund based BG     ICRA A4      1.2     -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shree Madhav Agencies Pvt Ltd           Non-Fund based LOC    ICRA A4      16.6    -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shreeji Vitrified Pvt Ltd               BG                    ICRA A4      15      Withdrawn
Smbt Sevabhavi Trust                    ST – Non-Fund Based-CCICRA A4      200     -
Reason for delay in carrying out periodic review: Surveillance process is underway
Sml Isuzu Ltd                           ST FB Limits          ICRA A1+     1370    Reaffirmed
Sml Isuzu Ltd                           ST Non-FBL            ICRA A1+     300     Reaffirmed
Sml Isuzu Ltd                           CP                    ICRA A1+     500     Reaffirmed
Reason for delay in carrying out periodic review: Review process is underway
Tata Cummins Pvt Ltd                    CP                    ICRA A1+     2500    Reaffirmed
(Erstwhile Tata Cummins Ltd)
Unichem Laboratories Ltd                CP Programme          ICRA A1      150     Revised from
                                                                                   ICRA A1+
United Coke Pvt Ltd                     Non-Fund Based-LOC    ICRA A4      350     Withdrawn
Usha International Ltd                  Non-FB Fac            ICRA A3+     1850    Reaffirmed

MEDIUM TERM RATINGS:
-------------------

Bahra Educational And                   Unallocated FD        ICRA D       152.7   -
Charitable Society                      Programme
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
L.G. Balakrishnan Amp; Bros Ltd         FD                    MAA/Stable   400     outstanding

LONG TERM RATINGS:
-------------------
A S K Brothers Ltd                      FB -TL                ICRA BB+     570     Withdrawn
                                                              (Stable)
A S K Brothers Ltd                      FB – CC Fac           ICRA BB+     60      Withdrawn
                                                              (Stable)
Adishakti Cars Pvt Ltd                  LT Loan – FBL (CC)    ICRA B+      61      Downgraded
                                                              (Stable)             from ICRA BB
                                                                                   (Stable)
Adishakti Cars Pvt Ltd                  LT – Unallocated      ICRA B+      14      Downgraded
                                        Limits                (Stable)             from ICRA BB
                                                                                   (Stable)
Aggarwal And Company                    LT Interchangeable    ICRA         -       Withdrawn
                                                              B(Stable)
Issuer Not Cooperating category
Alliance Polysacks Pvt Ltd              Fund based/ CC        ICRA BBB-    400     -
                                                              (Stable)
Reason for delay in carrying out periodic review Issuer delayed in giving information
Alliance Polysacks Pvt Ltd              Fund based TL         ICRA BBB-    590     -
                                                              (Stable)
Reason for delay in carrying out periodic review Issuer delayed in giving information
Alliance Polysacks Pvt Ltd              Unallocated           ICRA BBB-    20      -
                                                              (Stable)/A3
Reason for delay in carrying out periodic review Issuer delayed in giving information
Amber International                     LT FBL                ICRA         2.5     Withdrawn
                                                              B+(Stable)
Amplus Sunshine Pvt Ltd                 LT FBL- TL            ICRA         380     Assigned
                                                              AA-(Stable)
Amplus Sunshine Pvt Ltd                 LT FBL- unallocated   ICRA         10      Assigned
                                        limits                AA-(Stable)
Apeejay House Pvt Ltd                   Bk Fac                ICRA         1000    -
                                                              A-/Stable
Reason for delay in carrying out periodic review Review Process Underway
Apeejay Pvt Ltd                         Bk Fac                ICRA         600     -
                                                              A-(Stable)
Reason for delay in carrying out periodic review Review Process Underway
Aquatica Frozen Foods Global            LT Non fund based     ICRA BBB+    -       Reaffirmed
Pvt Ltd
outlook revised to Positive from Stable
Aquatica Frozen Foods Global            LT TL                 ICRA BBB+    -       Reaffirmed
Pvt Ltd
Aquatica Frozen Foods Global            LT Interchangeable –  ICRA BBB+    -       Reaffirmed
Pvt Ltd                                 Sublimit
Ashoka Belgaum Khanapur Road            Fund based – TL       ICRA         2950    Reaffirmed
Pvt Ltd                                                       A-(Stable)
B. V. Bio-Corp Pvt. Ltd.                Bk Loan Rating        ICRA         861.1   -
                                                              A-(Stable)
                                                              / ICRA A2+
Reason for delay in carrying out periodic review Surveillance exercise presently underway
Bahra Educational And                   CC                    ICRA D       52.5    -
Charitable Society
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Bahra Educational And                   TL                    ICRA D       244.8   -
Charitable Society
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Balmer Lawrie & Co. Ltd                 CC Fac                ICRA AA+     500     Reaffirmed
                                                              (Stable)
Balmer Lawrie & Co. Ltd                 Non-FB Fac            ICRA AA+     1300    Reaffirmed
                                                              (Stable)
Besto Mining India Pvt Ltd              LT - Fund Based/ CC   ICRA B+      25      -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Besto Mining India Pvt Ltd              LT - Fund Based TL    ICRA B+      135.3   -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Besto Mining India Pvt Ltd              LT – Unallocated      ICRA B+      30.7    -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Brigade Properties Pvt Ltd              LT NCDs               ICRA A-      1000    Downgraded
                                                                                   from ICRA A
removed from watch with developing implications and ‘Stable’ outlook assigned
Bti Payments Pvt Ltd                    TL                    ICRA BBB     750     Reaffirmed
                                                              (Stable)
Capital Trade Links Ltd                 Issuer Rating         ICRA BB-     -       -
                                                              (Stable)
placed on Notice of Withdrawal for 30 days
Cornerstone Property                    LT – TL               ICRA         1100    -
Investments Pvt. Ltd.                                         BB+(SO)
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Cpf (India) Pvt Ltd                     TL                    ICRA BBB     3018.9  Reaffirmed
                                                              (Stable)
outlook revised to Stable from Positive
Fortius Infradevelopers Llp             LT- TL                ICRA BBB-    331.7   -
                                                              (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Golden Star Designer Pvt Ltd            FB-CC                 ICRA B+      50      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer Not Cooperating
Guardian Castings Pvt Ltd               Bk Fac                ICRA BBB     450     -
                                                              (Stable)/
                                                              ICRA A3+
Reason for delay in carrying out periodic review: Review process is underway
Guru Ashish Shipbreakers                Fund Based-CC         ICRA         90      Withdrawn
                                                              B+(Stable)
Issuer Not Cooperating
Hans Industries Pvt Ltd                 Fund Based-CC         ICRA         450     Withdrawn
                                                              B+(Stable)
Issuer Not Cooperating
Haranai Sahakari Soot Girni             LT - Fund Based/ CC   ICRA         35.5    Downgraded
Ltd.                                                          B+(Stable)           from ICRA
                                                                                   BB-(Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category.
Haranai Sahakari Soot Girni             LT - Fund Based TL    ICRA         41.2    Downgraded
Ltd.                                    (Proposed)            B+(Stable)           from ICRA
                                                                                   BB-(Stable)
Continues to remain in the ‘Issuer Not Cooperating’ category.
Haryana City Gas Distribution           Fund based/ TL        ICRA BB-     190     -
(Bhiwadi) Ltd                                                 (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Haryana City Gas Distribution           Non-fund based / BG   ICRA BB-     50      -
(Bhiwadi) Ltd                                                 (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Idfc Asset Management Co. Ltd           IDFC Dynamic Bond FundICRA AAAmfs  -       Reaffirmed
Idfc Asset Management Co. Ltd           IDFC Bond Fund –      ICRA AAAmfs  -       Reaffirmed
                                        Income Plan
Idfc Asset Management Co. Ltd           IDFC Money Manager    ICRA AAAmfs  -       Reaffirmed
                                        Fund
Idfc Asset Management Co. Ltd           IDFC Bond Fund – ST   ICRA AAAmfs  -       Reaffirmed
                                        Plan
Idfc Asset Management Co. Ltd           IDFC Low Duration FundICRA AAAmfs  -       Reaffirmed
Idfc Asset Management Co. Ltd           IDFC Bond Fund –      ICRA AAAmfs  -       Reaffirmed
                                        Medium Term Plan
Idfc Asset Management Co. Ltd           IDFC Bking and PSU    ICRA AAAmfs  -       Reaffirmed
                                        Debt Fund
Idfc Asset Management Co. Ltd           IDFC Corporate Bond   ICRA AAAmfs  -       Reaffirmed
                                        Fund
Inflow Technologies Pvt Ltd             LT – Fund Based (CC)  ICRA BBB+ &  620     -
                                        Inflow Technologies
                                        Pvt Ltd
placed under watch with developing implications
Inflow Technologies Pvt Ltd             LT – Interchangeable  ICRA BBB+ &  -       -
placed under watch with developing implications
Intertouch Metal Buildings Pvt          LT – Fund Based CC    ICRA         20      -
Ltd                                                           BB(Stable)
Reason for delay in carrying out periodic review: Issuer has not shared information
Intertouch Metal Buildings Pvt          LT/ ST –              ICRA         -       -
Ltd                                     Interchangeable       BB(Stable)/
                                                              ICRA A4+
Reason for delay in carrying out periodic review: Issuer has not shared information
Intertouch Metal Buildings Pvt          LT/ ST                ICRA         100     -
Ltd                                                           BB(Stable)/
                                                              ICRA A4+
Reason for delay in carrying out periodic review: Issuer has not shared information
Intertouch Metal Buildings Pvt          – Non-Fund Based BG   ICRA         33      -
Ltd                                     Inland/ Import LC     BB(Stable)/
                                                              ICRA A4+
Reason for delay in carrying out periodic review: Issuer has not shared information
J.R. Roadlines Pvt. Ltd.                CC                    ICRA BBB-    40      Withdrawn
                                                              (Stable)
Issuer Not Cooperating
J.R. Roadlines Pvt. Ltd.                TL                    ICRA BBB-    140     Withdrawn
                                                              (Stable)
Issuer Not Cooperating
Jampana Construction Pvt Ltd            LT - Fund Based/ CC   ICRA B+      140     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Jampana Construction Pvt Ltd            LT - Fund Based TL    ICRA B+      70      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Jampana Construction Pvt Ltd            LT / ST - Unallocated ICRA B+      15      Downgraded
                                                              (Stable) /           from ICRA
                                                              ICRA A4              BB+
(Stable)/ICRA A4+
Rating continues to remain under ‘Issuer Not Cooperating’ category
Jmc Constructions Pvt Ltd               Bk loan Ratings       ICRA         1600    -
                                                              BB(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Kirthi Power Solutions Pvt Ltd          Bk loan Ratings       ICRA D       100     -
Reason for delay in carrying out periodic review: Review process is underway
L.G. Balakrishnan Amp; Bros Ltd         FB -TL                ICRA         1202.5  Assigned /
                                                              AA(Stable)           outstanding
L.G. Balakrishnan Amp; Bros Ltd         FB - Working Capital  ICRA         1250    Assigned /
                                        Fac                   AA(Stable)           outstanding
Mac-Chem Products (India) Pvt           Fund based – CC       ICRA BB      150     Withdrawn
Ltd                                                           (Stable)
Removed from ‘Issuer Not Cooperating’ category
Mac-Chem Products (India) Pvt           Unallocated limit     ICRA BB      109.5   Withdrawn
Ltd                                                           (Stable)
Removed from ‘Issuer Not Cooperating’ category
Mahamaya Cashew Industries              LT Fund based – CC    ICRA B       95      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Mahamaya Cashew Industries              LT - Fundbased – TL   ICRA B       25      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Mehta Brothers Gems Pvt Ltd             LT Fund Based         ICRA         350     -
                                                              B+(Stable)
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Mehta Brothers Gems Pvt Ltd             LT Interchangeable    ICRA         -       -
                                                              B+(Stable)
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Minox Metal Pvt Ltd                     FB Fac                ICRA BB+     455     Reaffirmed
                                                              (Stable)
Nambiar Builders Pvt Ltd                LT – TL               ICRA BBB-    934.4   -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer not cooperating
Nambiar Builders Pvt Ltd                LT – Unallocated      ICRA BBB-    1065.6  -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer not cooperating
National Cooperative                    NCD Programme         ICRA AA      3000    -
Development Corporation                                       (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Natural Sugar And Allied                LT - Fund Based/ CC   ICRA D       1400    -
Industries Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Natural Sugar And Allied                LT - Fund Based TL    ICRA D       100     -
Industries Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Neogrowth Credit Pvt Ltd                NCD Programme         ICRA         2805.5  -
                                                              BBB(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Neogrowth Credit Pvt Ltd                LT Bk Lines           ICRA         1500    -
                                                              BBB(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Oswal Minerals Ltd                      LT Fund Based/CC      ICRA BB+     300
                                                              /(Stable)  
Rating moved to the ‘Issuer Not Cooperating’ category 
Orbit Exports Ltd                       Bk Loan Ratings       ICRA         569.3
                                                              A(Stable) /
                                                              ICRA A1
Reason for delay in carrying out periodic review: Review process is underway
Pan Agri Export                         FBL                   ICRA BBB-    360     Withdrawn
                                                              (Stable)
Issuer Not Cooperating category
Pan Agri Export                         Unallocated Limits FB ICRA BBB-    104     Withdrawn
                                        -TL                   (Stable)/
                                                              ICRA A3
Issuer Not Cooperating category
Pavan Cotton Products Pvt Ltd           LT - Fund Based/ CC   ICRA         55      -
                                                              B(Stable)
Issuer did not co-operate; based on best available information
Pavan Cotton Products Pvt Ltd           LT - Fund Based TL    ICRA         36.4    -
                                                              B(Stable)
Issuer did not co-operate; based on best available information
Pavan Cotton Products Pvt Ltd           LT – Unallocated      ICRA         11.5    -
                                                              B(Stable)
Issuer did not co-operate; based on best available information
Pgim India Asset Management             PGIM India Ultra ST   ICRA AAAmfs  -       Assigned
Pvt Ltd                                 Fund
Pgim India Asset Management             PGIM India Dynamic    ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Bond Fund
Pgim India Asset Management             PGIM India Insta Cash ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Plus Fund
Pgim India Asset Management             PGIM India Bking and  ICRA AAAmfs  -       outstanding
Pvt Ltd                                 PSU Debt Fund
Pgim India Asset Management             PGIM India Premier    ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Bond Fund
Pramanik Metal Corporation              BLR                   ICRA B       140     -
                                                              (Stable) /
                                                              ICRA A4
Reason for delay in carrying out periodic review: Issuer not cooperating
Quatro Rail Tech Solutions Ltd          LT – Fund Based – CC  ICRA BB+     90      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Quatro Rail Tech Solutions Ltd          LT / Short- Term -    ICRA BB+     10      -
                                        Unallocated           (Stable)/
                                                              ICRA A4+
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Qureshi International Pvt Ltd           LT – CC               ICRA         99      Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB- (Stable)
Moved to ‘Issuer Not Cooperating’ category
R.N. Gupta & Co. Ltd.                   Issuer Rating         ICRA BBB+    -       Assigned
                                                              (Stable)
Ridley Life-Science Pvt Ltd             LT - Fund Based/ CC   ICRA BB      55      -
                                                              (Stable)
*Issuer did not co-operate; based on best available information.
Sahuwala Cylinders Pvt Ltd              LT - Fund Based/ CC   ICRA         310     Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB- (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Sahuwala Cylinders Pvt Ltd              LT - Non Fund Based   ICRA         25      Downgraded
                                                              B+(Stable)           from ICRA
                                                              ISSUER NOT COOPERATINBB- (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Sahuwala Cylinders Pvt Ltd              LT - Unallocated      ICRA         15      Downgraded
                                                              B+(Stable)           from ICRA
                                                              ISSUER NOT COOPERATINBB- (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Sakal Media Pvt Ltd                     FB – TL               ICRA         360     Reaffirmed
                                                              A-(Stable)
Sakal Media Pvt Ltd                     FB – Working Capital  ICRA         1000    Reaffirmed
                                        Fac                   A-(Stable)
Sandhya Aqua Exports Pvt. Ltd           LT - FB Fac           ICRA BBB-    1200    -
                                                              (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Sandhya Marines Ltd                     LT: Interchangeable   ICRA A       -       Reaffirmed
                                                              (Stable)
Shraddha Synthetics Pvt Ltd             LT Fund Based         ICRA         40      -
                                                              B(Stable)
Issuer Not Cooperating
Shree Madhav Agencies Pvt Ltd           Fund based-CC         ICRA B       37.5    -
                                                              (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shree Madhav Agencies Pvt Ltd           Fund based-Stand by   ICRA B       6.5     -
                                        line of Credit        (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Shreeji Vitrified Pvt Ltd               TL                    ICRA B+      50.8    Withdrawn
                                                              (Stable)
Shreeji Vitrified Pvt Ltd               CC                    ICRA B+      63      Withdrawn
                                                              (Stable)
Shri Balaji Literary &                  CC                    ICRA D       30      -
Charitable Society Bahra Group
Of Institutions
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Shri Balaji Literary &                  TL                    ICRA D       -       -
Charitable Society Bahra Group
Of Institutions
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Simola Tiles Llp                        TL                    ICRA D       422.6   Assigned
Simola Tiles Llp                        CC^                   ICRA D       210     Assigned
^ includes proposed cash credit of Rs. 6.00 crore; EPC/PSC/PCFC/PSCFC are sub-limits of cash
credit
Simola Tiles Llp                        BG                    ICRA D       40      Assigned
Simola Tiles Llp                        Unallocated Limits    ICRA D       77.4    Assigned
Smbt Sevabhavi Trust                    LT – Fund Based-TL    ICRA B       2034    -
                                                              (Stable)
Reason for delay in carrying out periodic review: Surveillance process is underway
Smbt Sevabhavi Trust                    LT – Fund Based-CC    ICRA B       36      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Surveillance process is underway
Sml Isuzu Ltd                           CC                    ICRA AA-     180     Downgraded
                                                              (Negative)           from ICRA AA
outlook revised from Stable
Sri Venkateswara Fertilisers            Bk loan Ratings       ICRA         330     -
Pvt Ltd                                                       B+(Stable)/
                                                              ICRA A4
Stelis Biopharma Pvt. Ltd.              Fund Based – TL       ICRA A (CE)  5075.5  Assigned /
                                                              (Stable)             Outstanding
Tata Cummins Pvt Ltd                    Long-TL               ICRA AA      110     Reaffirmed
(Erstwhile Tata Cummins Ltd)                                  (Stable)
Tata Cummins Pvt Ltd                    Fund Based/non-fund   ICRA AA      2000    Reaffirmed
(Erstwhile Tata Cummins Ltd)            based Fac             (Stable) /
                                                              ICRA A1+
Unichem Laboratories Ltd                LT, FB / Non-FB Fac   ICRA A       1500    Revised from
                                                              (Negative)           ICRA A+
                                                                                   (Stable)
United Coke Pvt Ltd                     Fund Based-CC^        ICRA         -       Withdrawn
                                                              B+(Stable)
^ interchangeable limit
Usha International Ltd                  TL                    ICRA BBB     1600    Reaffirmed
outlook revised to Negative from Stable
Usha International Ltd                  FB working capital FacICRA BBB     750     Reaffirmed
outlook revised to Negative from Stable
Vajram Holdings Pvt Ltd                 LT- TL                ICRA BB-     200     -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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