February 2, 2018 / 10:56 AM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Feb 2

 (Repeating to add more ratings)
    Feb 2 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 1, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Eid Mohammed Nizammudin                 BG                    ICRA A4+     110     Reaffirmed/
                                                                                   Assigned
IL & Fs Transportation                  CP                    ICRA A1      10000   outstanding
Networks Ltd
Vidya Herbs Pvt Ltd                     ST – Non Fund Based   ICRA A2      90      Assigned
IL & Fs Transportation                  FB Bk limits          ICRA A1      3200    outstanding
Networks Ltd
Ess Ess Kay Engineering                 ST FB                 ICRA A4      2.5     outstanding
Company Pvt Ltd
Ess Ess Kay Engineering                 ST Non-fund Based     ICRA A4      5       outstanding
Company Pvt Ltd
Indus Towers Ltd                        CP                    ICRA A1+     25000   Assigned
Jay Bharat Maruti Ltd                   CP Programme          ICRA A1+     750     Reaffirmed
Kotarki Constructions Pvt Ltd           ST –Non-Fund Based    ICRA A4      120
                                        (BG)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mandeep Industries                      Warehouse receipt     ICRA A4      30      Reaffirmed
                                        financing
Muthoot Homefin (India) Ltd             CP Programme          ICRA A1+     3000    outstanding
                                                                                   Provisional
Oyo Ceramic Pvt Ltd                     BG                    ICRA A4      18      Reaffirmed
Oyo Ceramic Pvt Ltd                     Bill discounting      ICRA A4              Reaffirmed
Prateek Wires Pvt Ltd                   Non-FBL               ICRA A4      30      Reaffirmed

LONG TERM RATINGS:
-------------------
Choudhary Gums & Derivatives            CC Fac                ICRA B       145     Reaffirmed
Rural Fairprice Wholesale Ltd           NCD Programme (NCD)   ICRA BBB-(SO) 3200   Final Rating
S. D. Corporation Pvt Ltd               CP                    ICRA A1+(SO) 8050    outstanding
S. D. Corporation Pvt Ltd               CP                    Provisional  1050    Confirmed as
                                                              ICRA A1+(SO)         final
Gail (India) Ltd                        Non-Convertible Bond  ICRA AAA     0       Withdrawn
                                        Programme 500.00
Gail (India) Ltd                        LT / ST FB / Non-FBL  ICRA AAA /   2500    outstanding
                                        (Interchangeable)     ICRA A1+
Icfai University Sikkim                 Working capital       ICRA A (SO)  150     Upgraded
                                        demand loan                                from ICRA A-
                                                                                   (SO)
Icfai University Sikkim                 TL                    ICRA B+      12.8    Reaffirmed
Icfai University Sikkim                 Unallocated limits    ICRA B+      97.2    Reaffirmed
Il & Fs Transportation                  NCDs                  ICRA A       20000   outstanding
Networks Ltd
Il & Fs Transportation                  TL                    ICRA A       4900    outstanding
Networks Ltd
Il & Fs Transportation                  Preference Share      ICRA A-      7600    outstanding
Networks Ltd
Il & Fs Transportation                  NCDs                  ICRA         9005    outstanding
Networks Ltd                                                  AA+(SO)
Il & Fs Transportation                  NCDs                  Provisional  3490    Confirmed as
Networks Ltd                                                  ICRA AA+(SO)         final
Il & Fs Transportation                  NCDs                  Provisional  17505   outstanding
Networks Ltd                                                  ICRA AA+(SO)
Mall Of Joy Pvt Ltd                     TL                    ICRA BBB-    281.6   Reaffirmed
Mall Of Joy Pvt Ltd                     Unallocated Limits    ICRA BBB-    18.4    Reaffirmed
S. D. Corporation Pvt Ltd               NCD Programme         ICRA AA(SO)  4850    outstanding
Sunny View Estates Pvt Ltd              NCD Programme (NCD 2) ICRA AA(SO)  1500    outstanding
Sunny View Estates Pvt Ltd              NCD Programme (NCD 1) Provisional  2000    Confirmed as
                                                              ICRA AA(SO)          final
Vidya Herbs Pvt Ltd                     LT - TL               ICRA BBB+    440     Assigned
Vidya Herbs Pvt Ltd                     LT – Fund Based       ICRA BBB+    275     Assigned
Vidya Herbs Pvt Ltd                     LT / ST – Unallocated ICRA         9.6     Assigned
                                                              BBB+/ICRA A2
Dax Agri Impex                          Fund based-TL         ICRA B+      15      Assigned
Dax Agri Impex                          Fund based-CC         ICRA B+      145     Assigned
Eid Mohammed Nizammudin                 CC                    ICRA BB      90      Reaffirmed/
                                                                                   Assigned
Ess Ess Kay Engineering                 LT FB                 ICRA B+      385.3   Assigned/
Company Pvt Ltd                                                                    outstanding
Ess Ess Kay Engineering                 LT Unallocated        ICRA B+      2.2     outstanding
Company Pvt Ltd
G.N Pal And Sons                        FB CC                 ICRA B+      130     Assigned/
                                                                                   Outstanding
G.N Pal And Sons                        FB TL                 ICRA B+      10      Outstanding
Greenpack Industries                    Fund based-TL 6.00    ICRA BB+     60      Reaffirmed
Greenpack Industries                    Fund based- Working   ICRA BB+     30      Reaffirmed
                                        Capital Fac 3.00
Indus Towers Ltd                        NCD Programme         ICRA AA+     25000   Assigned
Indus Towers Ltd                        Bk Fac (includes      ICRA         115000  Assigned
                                        working capital Fac,  AA+/ICRA A1+
                                        TL and unallocated Fac)
Jainam Cables (India) Pvt Ltd           FB TL                 ICRA B+      4.5     Reaffirmed
Jainam Cables (India) Pvt Ltd           FB CC                 ICRA B+      100     Reaffirmed
Jay Bharat Maruti Ltd                   TL                    ICRA AA-     1781.2  Reaffirmed
Jay Bharat Maruti Ltd                   Non-Convertible       ICRA AA-     1500    Reaffirmed
                                        Debenture
Jay Bharat Maruti Ltd                   Unallocated           ICRA AA- /   98.8    Reaffirmed
                                                              ICRA A1+
Jay Bharat Maruti Ltd                   CC/WCDL               ICRA AA-     3145    Reaffirmed
                                                              /ICRA A1+
Jay Bharat Maruti Ltd                   Buyer’s Credit        ICRA AA-     945     Reaffirmed
                                        Facility/Letters      /ICRA A1+
                                        Credit/BG
Kotarki Constructions Pvt Ltd           LT –Fund Based (CC)   ICRA B+      130
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Mandeep Industries                      FB CC                 ICRA B       400     Reaffirmed
Mandeep Industries                      FB TL                 ICRA B       59.4    Reaffirmed
Mandeep Industries                      Unallocated Limited   ICRA B       0.6     Reaffirmed
Muthoot Homefin (India) Ltd             NCD Programme         ICRA AA-     4000    Assigned
Muthoot Homefin (India) Ltd             LT Fund Based Bk LinesICRA AA-     6000    outstanding
Nanjappa Trust                          LT –Fund Based (TL)   ICRA BBB-    105
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Nanjappa Trust                          LT –Fund Based (CC)   ICRA BBB-    25
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Nanjappa Trust                          LT –Proposed Limits   ICRA BBB-    220
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Oyo Ceramic Pvt Ltd                     CC                    ICRA B+      25      Reaffirmed
Oyo Ceramic Pvt Ltd                     TL                    ICRA B+      30.1    Reaffirmed
Oyo Ceramic Pvt Ltd                     Unallocated Limited   ICRA B+      18.5    Reaffirmed
Prateek Wires Pvt Ltd                   FB Limit              ICRA BB-     120     Reaffirmed
Punjab Infrastructure                   Rs. 500-crore DDBs-   ICRA         3134
Development Board                       Series II             BBB-(SO)
Downgraded from ICRA BBB(SO) and rating removed from watch
Punjab Infrastructure                   Rs. 500-crore DDBs-   ICRA         457
Development Board                       Series III            BBB-(SO)
Downgraded from ICRA BBB(SO) and rating removed from watch
Punjab Infrastructure                   Rs. 750-crore Regular ICRA         2229
Development Board                       Return Bonds- Series  BBB-(SO)
                                        IVA, IVB and IVC
Downgraded from ICRA BBB(SO) and rating removed from watch
Sarbamangala Agro Products Pvt          Fund based- TL        ICRA D       19
Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Sarbamangala Agro Products Pvt          Fund based- CC        ICRA D       38
Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Sarbamangala Agro Products Pvt          Fund based- Untied    ICRA D       1.2
Ltd                                     Limits
Rating moved to the ‘Issuer Not Cooperating’ category
Sarbamangala Agro Products Pvt          Non-Fundbased- BG     ICRA D       1.8
Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Spandana Sphoorty Financial Ltd         NCD Programme         ICRA BBB     5850
Upgraded from ICRA BBB-
Spandana Sphoorty Financial Ltd         LT Bk Fac             ICRA BBB     5000
Upgraded from ICRA BBB-
Sundaram Finance Ltd- Shri              PTC Series A          ICRA         5508.7  Provisional/
Trust V 2018                                                  AAA(SO)              Assigned
The Grob Tea Co. Ltd                    FB Limits             ICRA A-      150     Reaffirmed
The Icfai Society (Erstwhile            TL                    ICRA A       487.2   Upgraded
The Institute Of Chartered                                                         from ICRA A-
Financial Analysts Of India)
The Icfai Society (Erstwhile            Unallocated limits    ICRA A       2612.8  Upgraded
The Institute Of Chartered                                                         from ICRA A-
Financial Analysts Of India)
Vijaya Krishna Agro Food                TL                    ICRA D       75
Processing Pvt Ltd
Downgraded from ICRA B ISSUER NOT COOPERATING
Vijaya Krishna Agro Food                CC                    ICRA D       30
Processing Pvt Ltd
Downgraded from ICRA B ISSUER NOT COOPERATING
--------------------------------------------------------------------------------------------
$: 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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