February 12, 2018 / 10:59 AM / 12 days ago

RPT-ICRA ratings for Indian debt instruments-Feb 12

 (Repeating to add additonal ratings)
    Feb 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 9, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Accelerated Freeze Drying Co.           Fund based- Working   ICRA A4+
Ltd                                     Capital Fac
Assigned/ outstanding
Accelerated Freeze Drying Co.           Non- fund based- Bk   ICRA A4+     19      outstanding
Ltd                                     Fac
Fortis Healthcare Ltd                   CP/ Short- term Debt  ICRA A2+     6000
Downgraded from ICRA A1+ (rating continues to be on watch with negative implications)
Fortis Healthcare Ltd                   Non- fund- based      ICRA A2+     200
                                        Limits
Downgraded from ICRA A1+ (rating continues to be on watch with negative implications)
Godrej Consumer Products Ltd            CP Programme          ICRA A1+     7500    Reaffirmed
Icici Bank Ltd                          CDs                   ICRA A1+     500000  Reaffirmed
K V Aromatics Pvt Ltd                   Fund based ST         ICRA A3+     1940    Reaffirmed
K V Aromatics Pvt Ltd                   Non- Fund based ST    ICRA A3+     120     Reaffirmed
K V Aromatics Pvt Ltd                   Unallocated- ST       ICRA A3+     293.6   Reaffirmed
Lincoln Parenteral Ltd                  Non- fund Based Bill  ICRA A2+     -       Upgraded
                                        Discounting Limit                          from ICRA A3
Milacron India Pvt Ltd                  ST – Non Fund Based   ICRA A1      200     Reaffirmed
Mitc Rolling Mills Pvt Ltd              ST - Fund Based       ICRA A2      120     Upgraded
                                                                                   from ICRA A3+
Mitc Rolling Mills Pvt Ltd              ST - Non- Fund Based  ICRA A2      250     Upgraded
                                                                                   from ICRA A3+
Mitc Rolling Mills Pvt Ltd              ST Unallocated        ICRA A2      6.9     Upgraded
                                                                                   from ICRA A3+
Patron Industries Pvt Ltd               Short- term: Non      ICRA A4      75
                                        fund- based limits
Rating continues to remain in the ‘Issuer Not Cooperating’ category
S.S. Timber Traders                     NFBL                  ICRA A4      80      Reaffirmed
Shiva Global Agro Industries            Non- fund- based      ICRA A4+     120
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category MB+ ISSUER NOT COOPERATING*
Shri Haridarshan Jewellers              ST FBL                ICRA A4      20
Issuer not cooperating
South India Paper Mills Ltd             Non- FBL              ICRA A2+     255     Reaffirmed
Rating watch with negative implications removed
Suhani Trading And Investment           Short- term, Non- FB  ICRA A3+     1300    Assigned
Consultants Pvt Ltd                     Fac
V K Industrial Corporation Ltd          Short- term non- FBL  ICRA A2+     2600
Upgraded from ICRA A2
Viacom18 Media Pvt Ltd                  CP / Short- term Debt ICRA A1+     5000    Re- affirmed
                                        Programme
Viacom18 Media Pvt Ltd                  Short- term, Fund-    ICRA A1+     2000    Re- affirmed
                                        based Bk Fac
Zen Lefin Pvt Ltd                       ST - FB Fac           ICRA A3+     100
Revised from       A3

MEDIUM TERM RATINGS:
-------------------
Icici Bank Ltd                          Fixed deposit         MAAA         -       Reaffirmed
                                        programme
Shiva Global Agro Industries            Medium- term Fixed    MB+          20
Ltd                                     Deposits

LONG TERM RATINGS:
-------------------
Accelerated Freeze Drying Co.           Fund based- TL        ICRA BB+             Assigned
Ltd
Al- Ayaan Foods Pvt Ltd                 FB Fac                ICRA B       100
Info provided recently. Surveillance under progress
Al- Ayaan Foods Pvt Ltd                 Unallocated           ICRA B       200
Info provided recently. Surveillance under progress
Alapatt Jewels                          LT – Fund Based – CC  ICRA B       55      Reaffirmed
Bharat Bijlee Ltd                       Fund- based Limits    ICRA A /     2250    Reaffirmed
                                                              ICRA A1
Bharat Bijlee Ltd                       Non- fund- based      ICRA A /     4000    Reaffirmed
                                        Limits                ICRA A1
Bruhat Bengaluru Mahanagara             Issuer Rating         ICRA BBB
Palike
Upgraded from ICRA BB
Bruhat Bengaluru Mahanagara             Fund based- Term-     Provisional  12570   Assigned
Palike                                  loans                 ICRA A- (SO)
Bruhat Bengaluru Mahanagara             Unallocated Fac       Provisional  8430    Assigned
Palike                                                        ICRA A- (SO)
C.S. Infraconstruction Ltd              LT Loan               ICRA D       50      Reaffirmed
C.S. Infraconstruction Ltd              FBL                   ICRA D       300     Reaffirmed
C.S. Infraconstruction Ltd              NFBL                  ICRA D       1250    Reaffirmed
Embassy Office Parks Pvt Ltd            Non- Convertible      ICRA BBB     3000    Reaffirmed
                                        Debentures
Fortis Healthcare Ltd                   Non- convertible      ICRA A-      2500
                                        Debentures
Downgraded from ICRA A+ (rating continues to be on watch with negative implications)
Fortis Healthcare Ltd                   Fund- based Limits    ICRA A-      1050
Downgraded from ICRA A+ (rating continues to be on watch with negative implications)
Fortis Healthcare Ltd                   TL                    ICRA A-      1950
Downgraded from ICRA A+ (rating continues to be on watch with negative implications)
Gmr Aviation Pvt Ltd                    Long- term/ Short-    ICRA BB- /   80      Reaffirmed
                                        Term Unallocated Bk   ICRA A4
                                        Fac
Godrej Consumer Products Ltd            Long- term/ Short-    ICRA AA+ /   300     Reaffirmed
                                        term, Fund-           ICRA A1+
                                        basedWorking Capital Fac
Godrej Consumer Products Ltd            Long- term/ Short-    ICRA AA+ /   1700    Reaffirmed
                                        term, Non- fund       ICRA A1+
                                        based- Working Capital Fac
Godrej Consumer Products Ltd            Long- term/ Short-    ICRA AA+ /   18000   Reaffirmed
                                        term, Fundbased/ Non- ICRA A1+
                                        fund based- Working Capital Fac
Icici Bank Ltd                          Basel III Compliant   ICRA         135000  Reaffirmed
                                        Additional Tier I     AA+(hyb)
                                        Bonds
Icici Bank Ltd                          Lower Tier II Bonds   ICRA AAA     144510  Reaffirmed
                                        Programme
Icici Bank Ltd                          Unsecured Redeemable  ICRA AAA     350000  Reaffirmed
                                        LT Bonds Programme
                                        (Infrastructure Bonds Programme)
Icici Bank Ltd                          Subordinated Debt     ICRA AAA     888     Reaffirmed
                                        Programme*
*taken over from erstwhile Bank of Rajasthan Limited
Icici Bank Ltd                          LT Bonds Programme#   ICRA AAA     6886.8  Reaffirmed
#from erstwhile ICICI Limited; Amount outstanding as on November 30, 2016 including accrued
interest on zero coupon bonds
Icici Bank Ltd                          Lower Tier II Bonds   ICRA AAA     -       Withdrawn
                                        Programme
Icici Bank Ltd                          Subordinated Debt     ICRA AAA     -       Withdrawn
                                        Programme
Icici Bank Ltd                          LT Bonds Programme#   ICRA AAA     -       Withdrawn
#from erstwhile ICICI Limited; Amount outstanding as on November 30, 2016 including accrued
interest on zero coupon bonds
Icici Bank Ltd                          Basel III Compliant   ICRA         100000  Reaffirmed
                                        Tier II Bonds         AAA(hyb)
Janaadhar (India) Pvt Ltd               NCD                   ICRA BBB-    250     Assigned
Janaadhar (India) Pvt Ltd               Fund- based – TL      ICRA BBB-    150     Reaffirmed
Janaadhar (India) Pvt Ltd               Unallocated           ICRA BBB-    150     Reaffirmed
K V Aromatics Pvt Ltd                   Fund based LT         ICRA BBB     80      Reaffirmed
K V Aromatics Pvt Ltd                   TL- LT                ICRA BBB     6.4     Reaffirmed
Lincoln Parenteral Ltd                  Fund- based External  ICRA A-      80      Upgraded
                                        Commercial Borrowing                       from ICRA BBB
Lincoln Parenteral Ltd                  Fund- based CC        ICRA A-      30      Upgraded
                                                                                   from ICRA BBB
Lincoln Parenteral Ltd                  Non- fund Based LOC
                                        (LC)
Mahindra Heavy Engines Pvt Ltd          Fund- based – TL      ICRA AA      2000    Reaffirmed
Mahindra Heavy Engines Pvt Ltd          Fund- based – Working ICRA AA      450     Reaffirmed
                                        Capital Fac
Mahindra Heavy Engines Pvt Ltd          Fund- Based / Non-    ICRA AA      120     Reaffirmed
                                        fund Based – Working
                                        Capital Fac
Mahindra Heavy Engines Pvt Ltd          Long- term/ Short-    ICRA AA /    500     Reaffirmed
                                        term, Fund- based/    A1+
                                        Non- FBL
Mahindra Heavy Engines Pvt Ltd          Long- term/ Short-    ICRA AA /    430     Reaffirmed
                                        term, Unallocated     A1+
                                        Limit
Mangal & Mangal                         Fund- based- Working  ICRA BBB     200     Reaffirmed
                                        Capital Fac
Mangal & Mangal                         Fund- based- Proposed ICRA BBB     100     Reaffirmed
                                        Fac
Milacron India Pvt Ltd                  LT – Fund based       ICRA A       240     Reaffirmed
Mitc Rolling Mills Pvt Ltd              LT - Fund Based       ICRA BBB     500     Reaffirmed
Ozone Homes Pvt Ltd                     Non- Convertible      ICRA         1800    Reaffirmed
                                        debenture             BB+(SO)
Pandit Automotive Pvt Ltd               CC                    ICRA D       750
Revised from ICRA C- and continues to remain in the ’Issuer Not Cooperating’ category
Pandit Automotive Pvt Ltd               TL                    ICRA D       226
Revised from ICRA C- and continues to remain in the ’Issuer Not Cooperating’ category
Patron Industries Pvt Ltd               Long- term/ ST: FBL   ICRA B+ /    120
                                                              ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Patron Industries Pvt Ltd               Long- term/ ST:       ICRA B+ /    5
                                        Unallocated           ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rmz Ecoworld Infrastructure             TL                    ICRA AA-     21904.2 Provisional
Pvt Ltd                                                       (SO)
Rmz Ecoworld Infrastructure             TL                    ICRA AA-     8700    Provisional
Pvt Ltd                                                       (SO)
Rmz Infotech Pvt Ltd                    Non convertible bonds ICRA AA-     5500    Provisional
                                                              (SO)
Rmz Infotech Pvt Ltd                    TL                    ICRA AA-     19291   Provisional
                                                              (SO)
Samarth Sai Logistics Pvt Ltd           Rating                ICRA B / A4
No Default Statement
Shiva Global Agro Industries            TL                    ICRA BB      50
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shiva Global Agro Industries            CC                    ICRA BB      320
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rating continues to remain in the ‘Issuer Not Cooperating’ category MB+ ISSUER NOT COOPERATING*
Shri Haridarshan Jewellers              CC                    ICRA BB-     105
Issuer not cooperating
Singla Rice Oil & General Mill          Long- Term: FundBased ICRA B       75
Issuer not cooperating
South India Paper Mills Ltd             TL                    ICRA A-      450     Reaffirmed
Rating watch with negative implications removed and ‘Stable’ , outlook
South India Paper Mills Ltd             Fund- based Limits    ICRA A-      330     Reaffirmed
Rating watch with negative implications removed and ‘Stable’ , outlook
South India Paper Mills Ltd             Unallocated Limits    ICRA A-      65      Reaffirmed
Rating watch with negative implications removed and ‘Stable’ , outlook
Suhani Trading And Investment           Non- Convertible      ICRA BBB     5550    Assigned
Consultants Pvt Ltd                     Debenture Programme
                                        (NCD)
Suhani Trading And Investment           Principal Protected   ICRA BBB     6000    Assigned
Consultants Pvt Ltd                     Market Linked
                                        Debenture Programme
Suhani Trading And Investment           Long- TL              ICRA BBB     7368    Assigned
Consultants Pvt Ltd
Suhani Trading And Investment           Long- term, Fund-     ICRA BBB     700     Assigned
Consultants Pvt Ltd                     based Fac
Tata Aig General Insurance Co.          CPA rating            iAAA                 Reaffirmed
Ltd
Tata Aig General Insurance Co.          Subordinated debt     ICRA AA+     1780    Reaffirmed
Ltd                                     programme
Udagiri Sugar And Power Ltd             LT, FBL – TL          ICRA BB-     325.9
Rating continues to remain under ‘Issuer Not Cooperating’ category
Udagiri Sugar And Power Ltd             LT, FBL – Unallocated ICRA BB-     24.1
Rating continues to remain under ‘Issuer Not Cooperating’ category
V K Industrial Corporation Ltd          Long- term fund-      ICRA BBB+    525     Reaffirmed
                                        based limits – CC
Viacom18 Media Pvt Ltd                  Long- term / short-   ICRA AA/ A1+ 13250
                                        term, Fund- based /
                                        Non- fund Based Bk Fac
Long- term rating ICRA AA placed on ‘rating watch with positive implications’; short- term
rating re- affirmed at ICRA A1+
Viacom18 Media Pvt Ltd                  Long- term / Short-   ICRA AA/ A1+ 857
                                        term Unallocated
Long- term rating ICRA AA placed on ‘rating watch with positive implications’; short- term
rating re- affirmed at ICRA A1+
Vitp Pvt Ltd                            NCD                   ICRA BBB     3500    Reaffirmed
Agrawal Oil And General                 BLR                   ICRA D       100
Industries
Issuer not cooperating
Deedy Chemicals Pvt Ltd                 BLR                   ICRA BB      125
Review process is underway
Zen Lefin Pvt Ltd                       LT - FB Fac           ICRA BBB     650
Revised from       BBB-
Zen Lefin Pvt Ltd                       Unsecured Redeemable  ICRA BBB     160
                                        NonConvertible
                                        Debenture Programme
Revised from       BBB-
Zen Lefin Pvt Ltd                       Secured Redeemable    ICRA BBB     170
                                        NonConvertible
                                        Debenture Programme
Revised from       BBB-
Zen Lefin Pvt Ltd                       Unallocated Fac       ICRA BBB     2250
                                                              /A3+
Revised from       BBB- /       A3


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