February 10, 2020 / 11:30 AM / 17 days ago

RPT-ICRA ratings for Indian debt instruments-Feb 10

 (Repeating to add more ratings)
    Feb 10 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of February 7, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adisankara Spinning Mills Pvt           Non-fund              ICRA A2+@    20      Downgraded
Ltd                                     based-Working Capital                      from ICRA A1@
                                        Fac
remains on watch with negative implications
Cpf (India) Pvt Ltd                     ST fund based         ICRA A3+     454     Assigned /
                                                                                   Outstanding
Sigma Electric Manufacturing            ST – FB/non-fund based             -       -
Corporation Pvt Ltd
Dalmia Cement (Bharat) Ltd              NFBL                  ICRA A1+     1548.55 -
Sigma Electric Manufacturing            ST – non-fund based                -       -
Corporation Pvt Ltd
Dalmia Cement (Bharat) Ltd              CP                    ICRA A1+     1200    -
Cpf (India) Pvt Ltd                     ST unallocated        -            -       -
Grasim Industries Ltd                   CP (CP) Programme     ICRA A1+     2500    re-affirmed
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     8500    Assigned
                                        financing)
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     1200    Reaffirmed
Metexim (Sourcing) Pvt Ltd              ST, Non-fund based    ICRA A4      4.75    Reaffirmed
Ned Energy Ltd                          Non-FBL               ICRA A2+     38      Downgraded
                                                              (CE)                 from ICRA
                                                                                   A1+(CE)
Prabhu Spinning Mills Pvt Ltd           Non-fund              ICRA A2+@    30      Downgraded
                                        based-Working Capital                      from ICRA A1@
                                        Fac
remains on watch with negative implications
Ptg Technopak Pvt Ltd                   ST: Interchangeable^  ICRA A4      -       Reaffirmed
^sub-limit of Cash Credit
Sivaraj Spinning Mills Pvt Ltd          Non-fund              ICRA A2+@    25      Downgraded
                                        based-Working Capital                      from ICRA A1@
                                        Fac
remains on watch with negative implications
Sri Matha Spinning Mills Pvt            Non-fund              ICRA A2+@    35      Downgraded
Ltd                                     based-Working Capital                      from ICRA A1@
                                        Fac
remains on watch with negative implications
Sri Shanmugavel Mills Pvt Ltd           Non-fund              ICRA A2+@    60      Downgraded
                                        based-Working Capital                      from ICRA A1@
                                        Fac
remains on watch with negative implications
Sri Velayudhaswamy Spinning             Non-fund              ICRA A2+@    70      Downgraded
Mills Pvt Ltd                           based-Working Capital                      from ICRA A1@
                                        Fac
remain on watch with negative implications
Sudhan Spinning Mills Pvt Ltd           Non-fund              ICRA A2+@    60      Downgraded
                                        based-Working Capital                      from ICRA A1@
                                        Fac
remain on watch with negative implications
Sundaram Home Finance Ltd               CP                    ICRA A1+     1500    outstanding
Tata International Dlt Pvt Ltd          ST, Non-fund 3 Based  ICRA A2+     10      revised from
                                        Fac                                        ICRA A1@
Ratings under watch with negative implications
Vedha Spinning Mills Pvt Ltd            Non-fund              ICRA A2+@    20      Downgraded
                                        based-Working Capital                      from ICRA A1@
                                        Fac
remain on watch with negative implications
Ongc Petro Additions Ltd                CP                    ICRA A1+     5000    Reaffirmed
Ongc Petro Additions Ltd                Non-FBL               ICRA A1+    29240    Reaffirmed
 

MEDIUM TERM RATINGS:
-------------------
Sundaram Home Finance Ltd               Fixed Deposits        MAAA(Stable) -       outstanding

LONG TERM RATINGS:
-------------------
Adisankara Spinning Mills Pvt           Fund based- TL        ICRA A@      23      Downgraded
Ltd                                                                                from ICRA A+@
remains on watch with negative implications
Adisankara Spinning Mills Pvt           Fund based- Working   ICRA A@      85      Downgraded
Ltd                                     Capital Fac                                from ICRA A+@
remains on watch with negative implications
Adisankara Spinning Mills Pvt           Unallocated limits    ICRA         2       Downgraded
Ltd                                                           A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remains on watch with negative implications
Apeejay Global Industrial Amp;          FBL- TL               ICRA         62.5    Reaffirmed
Logistic Park Ltd                                             BBB(Stable)
Apeejay House Pvt Ltd                   FBL- Term Loan        ICRA         80      Reaffirmed
                                        against discounting   A-(Negative)
                                        of lease rentals (LRD)
Outlook revised to Negative from Stable
Apeejay House Pvt Ltd                   FBL-CC                ICRA         21      Reaffirmed
                                                              A-(Negative)
Outlook revised to Negative from Stable
Apeejay Industries Pvt Ltd              FBL-TL against        ICRA         20      Reaffirmed
                                        discounting of lease  A-(Stable)
                                        rentals (LRD)
Apeejay Pvt Ltd                         FBL- TL               ICRA         55      Reaffirmed
                                                              A-(Negative)
Outlook revised to Negative from Stable
Apeejay Pvt Ltd                         FBL-CC                ICRA         5       Reaffirmed
                                                              A-(Negative)
Outlook revised to Negative from Stable
Bekem Infra Projects Pvt Ltd            FB CC                 ICRA A-      65      Reaffirmed
Outlook revised to Negative from Stable
Bekem Infra Projects Pvt Ltd            Non-fund based BG     ICRA A-      255     Reaffirmed
Outlook revised to Negative from Stable
Bekem Infra Projects Pvt Ltd            Unallocated Limits    ICRA A-      130     Reaffirmed
Outlook revised to Negative from Stable
Cpf (India) Pvt Ltd                     TL                    ICRA BBB     254.03  outstanding
                                                              (Stable)
Dalmia Cement (Bharat) Ltd              TL                    ICRA AA      3240.71 -
                                                              (Stable)
Dalmia Cement (Bharat) Ltd              FBL                   ICRA AA      1000    -
                                                              (Stable)
Dalmia Cement (Bharat) Ltd              NCD                   ICRA AA      1587    -
                                                              (Stable)
Dedicated Freight Corridor              Issuer rating         ICRA AAA     NA      Reaffirmed
Corporation Of India Ltd                                      (Stable)
Gail (India) Ltd                        LT/ST fund Based/     ICRA AAA     2000    Assigned
                                        non-fund based-       (Stable)/
                                        unallocated           ICRA A1+
Grasim Industries Ltd                   NCD (NCD) Programme   ICRA AAA     2000    Reaffirmed
                                                              (Stable)
Grv Salvex Pvt. Ltd.                    LT Fund based - CC    ICRA B+      0.67    Assigned
                                                              (Stable)
Grv Salvex Pvt. Ltd.                    LT Fund based - TL    ICRA B+      4.3     Assigned
                                                              (Stable)
Grv Salvex Pvt. Ltd.                    LT/ST - Unallocated   ICRA B+      10.03   Assigned
                                                              (Stable)/A4
Ilv Distripark (Mwc) Pvt Ltd            LT – TL               ICRA A-      50      Upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB+(Stable)
Ilv Distripark (Mwc) Pvt Ltd            LT – TL               ICRA A-      50      Upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB+(Stable)
Metexim (Sourcing) Pvt Ltd              LT, Unallocated       ICRA BB-     0.25    Reaffirmed
                                                              (Stable)
Ned Energy Ltd                          FB CC Limits          ICRA A-(CE)  52      Downgraded
                                                              (Stable)             from ICRA
                                                                                   A+(CE)
Prabhu Spinning Mills Pvt Ltd           Fund based- TL        ICRA A@      12      Downgraded
                                                                                   from ICRA A+@
remains on watch with negative implications
Prabhu Spinning Mills Pvt Ltd           Fund based- Working   ICRA A@      110     Downgraded
                                        Capital Fac                                from ICRA A+@
remains on watch with negative implications
Prabhu Spinning Mills Pvt Ltd           Unallocated limits    ICRA         8       Downgraded
                                                              A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remains on watch with negative implications
Ptg Technopak Pvt Ltd                   LT: Fund Based/CC     ICRA B+      5.85    Upgraded
                                                              (Stable)             from ICRA
                                                                                   B(Stable)
Ptg Technopak Pvt Ltd                   LT: Fund Based/ TL    ICRA B+      5       Upgraded
                                                              (Stable)             from ICRA
                                                                                   B(Stable)
Reddy Veeranna Investments Pvt          Proposed NCDs         ICRA BB      1373    Reaffirmed
Ltd                                                           (Stable)
Reddy Veeranna Investments Pvt          Proposed NCDs         ICRA BB      137     Assigned
Ltd                                                           (Stable)
Salarpuria Signum Complex Llp           FB Fac                ICRA A       60      Assigned /
                                                                                   Reaffirmed
Sigma Electric Manufacturing            LT / ST – FB / NFB    ICRA A-      157.5   Reaffirmed
Corporation Pvt Ltd                                           (Stable) /
                                                              ICRA A2+
Sigma Electric Manufacturing            LT – FB/CC                         -       -
Corporation Pvt Ltd
Sivaraj Spinning Mills Pvt Ltd          Fund based- TL        ICRA A@      5.25    Downgraded
                                                                                   from ICRA A+@
remains on watch with negative implications
Sivaraj Spinning Mills Pvt Ltd          Fund based- Working   ICRA A@      50      Downgraded
                                        Capital Fac                                from ICRA A+@
remains on watch with negative implications
Sivaraj Spinning Mills Pvt Ltd          Unallocated limits    ICRA         69.75   Downgraded
                                                              A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remains on watch with negative implications
Sri Matha Spinning Mills Pvt            Fund based- Working   ICRA A@      55      Downgraded
Ltd                                     Capital Fac                                from ICRA A+@
remains on watch with negative implications
Sri Matha Spinning Mills Pvt            Unallocated limits    ICRA         35      Downgraded
Ltd                                                           A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remains on watch with negative implications
Sri Shanmugavel Mills Pvt Ltd           Fund based- Working   ICRA A@      125     Downgraded
                                        Capital Fac                                from ICRA A+@
remains on watch with negative implications
Sri Shanmugavel Mills Pvt Ltd           Unallocated limits    ICRA         60      Downgraded
                                                              A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remain on watch with negative implications
Sri Velayudhaswamy Spinning             Fund based- TL        ICRA A@      28      Downgraded
Mills Pvt Ltd                                                                      from ICRA A+@
remain on watch with negative implications
Sri Velayudhaswamy Spinning             Fund based- Working   ICRA A@      170     Downgraded
Mills Pvt Ltd                           Capital Fac                                from ICRA A+@
remain on watch with negative implications
Sri Velayudhaswamy Spinning             Unallocated limits    ICRA         57      Downgraded
Mills Pvt Ltd                                                 A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remain on watch with negative implications
Sudhan Spinning Mills Pvt Ltd           Fund based- TL        ICRA A@      36      Downgraded
                                                                                   from ICRA A+@
remain on watch with negative implications
Sudhan Spinning Mills Pvt Ltd           Fund based- Working   ICRA A@      175     Downgraded
                                        Capital Fac                                from ICRA A+@
remain on watch with negative implications
Sudhan Spinning Mills Pvt Ltd           Unallocated limits    ICRA         89      Downgraded
                                                              A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remain on watch with negative implications
Sundaram Home Finance Ltd               LT CC                 ICRA AA+     200     outstanding
                                                              (Stable)
Sundaram Home Finance Ltd               LT TL                 ICRA AA+     733.33  Assigned/
                                                              (Stable)
Sundaram Home Finance Ltd               LT Unallocated        ICRA AA+     100     outstanding
                                                              (Stable)
Sundaram Home Finance Ltd               NCDs (NCDs)           ICRA AA+     1771.6  outstanding
                                                              (Stable)
Sundaram Home Finance Ltd               Subordinated Debt     ICRA AA+     135     outstanding
                                                              (Stable)
Tata International Dlt Pvt Ltd          Long-TL               ICRA A-      19.11   revised from
                                                              (Stable)             ICRA A@
Ratings under watch with negative implications
Tata International Dlt Pvt Ltd          LT, FB                ICRA A-      30      revised from
                                                              (Stable)             ICRA A@
Ratings under watch with negative implications
Tata International Dlt Pvt Ltd          LT / ST, FB /         ICRA A-      20      revised from
                                        Non-fund Based        (Stable) /           ICRA A@ /
                                        Fac                   ICRA A2+             ICRA A1@
Ratings under watch with negative implications
Vedha Spinning Mills Pvt Ltd            Fund based- TL        ICRA A@      34      Downgraded
                                                                                   from ICRA A+@
remain on watch with negative implications
Vedha Spinning Mills Pvt Ltd            Fund based- Working   ICRA A@      65      Downgraded
                                        Capital Fac                                from ICRA A+@
remain on watch with negative implications
Vedha Spinning Mills Pvt Ltd            Unallocated limits    ICRA         31      Downgraded
                                                              A@/ICRA A2+@         from ICRA
                                                                                   A+@/ICRA A1@
remain on watch with negative implications
Mana Projects Pvt Ltd                   FB-TL                 ICRA BB+     859.3   Reaffirmed
                                                              (Stable)
Mana Projects Pvt Ltd                   Unallocated Limits    ICRA BB+     640.7   Reaffirmed
                                                              (Stable)
Ongc Petro Additions Ltd                TL (Secured)          ICRA AA      -       Reaffirmed
                                                              (Stable)
Ongc Petro Additions Ltd                FBL                   ICRA AA      15580   Reaffirmed
                                                              (Stable) /
                                                              A1+
Ongc Petro Additions Ltd                NCD                   ICRA         20916   Reaffirmed
                                                              AAA(CE)
                                                              (Stable)
Ongc Petro Additions Ltd                Compulsorily          ICRA         72860   Reaffirmed
                                        Convertible DebenturesAAA(CE)
                                                              (Stable)
Ongc Petro Additions Ltd                TL (Unsecured)        ICRA         65000   Reaffirmed
                                                              AAA(CE)
                                                              (Stable)
Ongc Petro Additions Ltd                NCD                   Provisional  9084    Reaffirmed
                                                              ICRA
                                                              AAA(CE) (Stable)
Orra Fine Jewellery Pvt Ltd             LT/ ST, FB/NonFB Fac  ICRA         1200    Revised from
                                                              BBB(CE)              ICRA A-(CE)
                                                              (Stable) / A3+ (CE)  (Stable)/A2
                                                                                   +(CE)
Orra Fine Jewellery Pvt Ltd             LT/ST, FB / Nonfund   ICRA         -       Revised from
                                        based sublimit        BBB(CE)              ICRA A-(CE)
                                                              (Stable) / A3+ (CE)  (Stable)/A2
                                                                                   +(CE)
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust December 2017
II
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust December 2017                                BBB+(SO)
II
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust June 2018 II
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust June 2018 II                                 BBB+(SO)
Shriram Transport Finance Co.           PTC Series A3         ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Mar 19
Shriram Transport Finance Co.           PTC Series A4         ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Mar 19
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust Mar 19                                       BBB+(SO)
Shriram Transport Finance Co.           Second Loss Facility  ICRA AA+(SO) -       Upgraded
Ltd Sansar Trust Mar 2017                                                          from ICRA A
                                                                                   (SO)
Shriram Transport Finance Co.           2017 PTC Series A     ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Mar 2017
Shriram Transport Finance Co.           Second Loss Facility  ICRA A-(SO)  -       Upgraded
Ltd Sansar Trust Mar 2018                                                          from ICRA
                                                                                   BBB+ (SO)
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Mar 2018
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust May 2019 II
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust May 2019 II                                  BBB+(SO)
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Nov 2018
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust Nov 2018                                     BBB+(SO)
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Nov 2018 II
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust Nov 2018 II                                  BBB+(SO)
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Oct 2018
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust Oct 2018                                     BBB+(SO)
Shriram Transport Finance Co.           Second Loss Facility  ICRA AA+(SO) -       Upgraded
Ltd Sansar Trust Sep 2017 III                                                      from ICRA A
                                                                                   (SO)
Shriram Transport Finance Co.           PTC Series A7         ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust Sep 2017 III
Shriram Transport Finance Co.           PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd Sansar Trust September
2018 III
Shriram Transport Finance Co.           Second Loss Facility  ICRA         -       Reaffirmed
Ltd Sansar Trust September                                    BBB+(SO)
2018 III
 
--------------------------------------------------------------------------------------------
$: 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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