February 26, 2018 / 10:34 AM / 7 months ago

RPT-ICRA ratings for Indian debt instruments-Feb 26

 (Repeating to add more ratings.)
    Feb 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 23, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Auto Products &                  ST FB                 ICRA A2      588.5   Reaffirmed
Engineering (India) Pvt Ltd
Aditya Auto Products &                  ST Non- fund based    ICRA A2      142.5   Reaffirmed
Engineering (India) Pvt Ltd
Axis Bank Ltd                           CD                    ICRA A1+     600000  Assigned /
                                                                                   Outstanding
Capital Steel Corporation               LOC                   ICRA A4      550     -
ISSUER NOT COOPERATING*
Capital Steel Corporation               Credit Exposure Limit ICRA A4      11      -
ISSUER NOT COOPERATING*
Elgi Rubber Co. Ltd                     ST-Fund Based FacilityICRA A3      150     Downgrade
                                                                                   from ICRA A2
Elgi Rubber Co. Ltd                     ST-Non Fund Based     ICRA A3      180     Downgrade
                                        Facility                                   from ICRA A2
Haldia Petrochemicals Ltd               ST Limits- Non-fund   ICRA A1+     34400   outstanding
                                        Based Limits
Haldia Petrochemicals Ltd               ST – CP               ICRA A1+     1000    outstanding
                                        programme
Rba Ferro Industries Pvt Ltd            FBL                   ICRA A4      280     Withdrawn
ISSUER NOT COOPERATING*
Rba Ferro Industries Pvt Ltd            Non-FBL – BG & LOC    ICRA A4      70      Withdrawn
ISSUER NOT COOPERATING*
Royalex Fashions (India) Pvt            ST Fund based SLC     ICRA A2      20      Reaffirmed
Ltd
Royalex Fashions (India) Pvt            ST Non-fund based     ICRA A2      0.5     Reaffirmed
Ltd
Singhal Strips Ltd                      Non-fund Based: LOC   ICRA A4+     100     Assigned
Sundaram Finance Ltd                    CP                    ICRA A1+     60000   Assigned
United Spirits Ltd                      CP                    ICRA A1+     15000   Reaffirmed
Zinka Logistics Solutions Pvt           Unallocated           ICRA A2+     35      Assigned
Ltd                                                           (SO)
Zinka Logistics Solutions Pvt           FB limits             ICRA A2+     1965    Assigned
Ltd                                                           (SO)
Art India                               ST Fund Based         ICRA A4      36      -
ISSUER NOT COOPERATING*
Dharti Spinning Mill Pvt Ltd            Non Fund basedBG      ICRA A4      20.6    -
ISSUER NOT COOPERATING*
Peninsula Land Ltd                      CP                    ICRA A1      0       Withdrawn
Peninsula Land Ltd                      CP                    ICRA A2+     1000    Downgrade
                                                                                   from ICRA A1
Simero Vitrified Pvt Ltd                BG                    ICRA A4      62.5    -
ISSUER NOT COOPERATING*
Suguna Foods Pvt Ltd                    ST - Non-FB Fac       ICRA A2+     180     Upgraded
                                        (sub-limit)                                from ICRA
                                                                                   A2+
ISSUER NOT COOPERATING*
United Seamless Tubulaar Pvt            ST/LT fundbased and   ICRA D       720     -

MEDIUM TERM RATINGS:
--------------------    
Suryoday Small Finance Bank Ltd         Fixed Deposit         MA           5000    Assigned
                                        Programme 
    
LONG TERM RATINGS:
-------------------
Aditya Auto Products &                  TL                    ICRA BBB+    154     Reaffirmed
Engineering (India) Pvt Ltd
Aditya Auto Products &                  Long-tern FB/CC       ICRA BBB+    265     Reaffirmed
Engineering (India) Pvt Ltd
Aditya Auto Products &                  LT FB- unallocated    ICRA BBB+    0       Reaffirmed
Engineering (India) Pvt Ltd
Axis Bank Ltd                           Basel III Complaint   ICRA         70000   outstanding
                                        Tier I Bonds          AA+(hyb)
Axis Bank Ltd                           Infrastructure Bonds  ICRA AAA     142050  outstanding
                                        Programme
Axis Bank Ltd                           Lower Tier II Bonds   ICRA AAA     59250   outstanding
                                        Programme
Axis Bank Ltd                           Basel III Complaint   ICRA         123500  outstanding
                                        Tier II Bonds         AAA(hyb)
Capital Steel Corporation               CC                    ICRA B+      70      -
ISSUER NOT COOPERATING*
Elgi Rubber Co. Ltd                     LT- Fund Based        ICRA BBB     350     Downgrade
                                        Facility                                   from ICRA
                                                                                   BBB+ / ICRA
                                                                                   A2
Elgi Rubber Co. Ltd                     LT- Non Fund Based    ICRA BBB     667     Downgrade
                                        Facility                                   from ICRA
                                                                                   BBB+ / ICRA
                                                                                   A2
Elgi Rubber Co. Ltd                     LT/ST- Unallocated FacICRA BBB /   6       Downgrade
                                                              ICRA A3              from ICRA
                                                                                   BBB+ / ICRA
                                                                                   A2
Gmr Aviation Pvt Ltd                    LT/ ST Unallocated Bk ICRA BB-     80      Withdrawn
                                        Fac                   /ICRA A4
Good Shepherd Educational               Fund based-TL         ICRA A-      500     Assigned
Trust (Good Shepherd
International School)
Good Shepherd Educational               Fund based- Working   ICRA A-      100     Assigned
Trust (Good Shepherd                    Capital Fac
International School)
Haldia Petrochemicals Ltd               Proposed NCD programmeICRA AA-     10000   Assigned
Haldia Petrochemicals Ltd               LT Limits- TL         ICRA AA-     41621.5 outstanding
Haldia Petrochemicals Ltd               LT Limits-FB          ICRA AA-     3130    outstanding
Haldia Petrochemicals Ltd               Issuer Rating         ICRA AA-     -       outstanding
Haldia Petrochemicals Ltd               LT/ST Unallocated     ICRA AA-/    21428.5 outstanding
                                                              ICRA A1+
Jharkhand Infrastructure                Fund Based – TL       ICRA BBB+    4800    Assigned
Implementation Co. Ltd
Kimiya Engineers Pvt Ltd                FB- CC                ICRA BB-     100     -
ISSUER NOT COOPERATING*
Kimiya Engineers Pvt Ltd                Non-FBL               ICRA BB-     300     -
ISSUER NOT COOPERATING*
Mantra Buildcrafts Llp                  FB Facility           ICRA BBB     200     Upgraded
                                                                                   from ICRA BB
Mantra Earth Llp                        FB Facility           ICRA BBB     112.5   Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mantra Earth Llp                        Unallocated           ICRA BBB     37.5    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mantra Erectors And Builders            FB Facility           ICRA BBB     250     Upgraded
Llp                                                                                from ICRA
                                                                                   BBB-
Mantra Greens Llp                       FB Facility           ICRA BBB     250     Upgraded
                                                                                   from ICRA BB
Mantra Insignia Llp                     FB Facility           ICRA BBB     200     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mantra Island Homes Chimbli Llp         FB Facility           ICRA BBB     233.2   Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mantra Island Homes Chimbli Llp         Unallocated           ICRA BBB     116.8   Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mantra Island Homes Talegaon            FB Facility           ICRA BBB     200     Upgraded
Llp                                                                                from ICRA
                                                                                   BBB-
Mantra Residencies Llp                  FB Facility           ICRA BBB     49.7    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Oil Country Tubular Ltd                 FB Limits             ICRA D       1250    Reaffirmed
Art India                               LT Fund Based         ICRA BB-     15.8    -
Dharti Spinning Mill Pvt Ltd            Fund based-TL         ICRA BB-     330.5   -
ISSUER NOT COOPERATING*
Dharti Spinning Mill Pvt Ltd            Fund based-CC         ICRA BB-     50      -
ISSUER NOT COOPERATING*
Ifmr Investment Managers Pvt            Fund Manager Quality  -            -       -
Ltd                                     Rating
Review process is underway
Peninsula Land Ltd                      NCD                   ICRA A       0       Withdrawn
Peninsula Land Ltd                      NCD Programme         ICRA A-      7612    Downgrade
                                                                                   from ICRA A
Raj Ratan Smelter Ltd                   LT/ ST - Fund Based/  ICRA C+ /    185     -
                                        Non-fund Based        ICRA A4
ISSUER NOT COOPERATING*
Shekhada Cot-Gin Pvt Ltd                Fund basedTL          ICRA B+      15      -
ISSUER NOT COOPERATING*
Shekhada Cot-Gin Pvt Ltd                Fund based-CC         ICRA B+      900     -
ISSUER NOT COOPERATING*
Simero Vitrified Pvt Ltd                CC                    ICRA BB      250     -
ISSUER NOT COOPERATING*
Simero Vitrified Pvt Ltd                TL                    ICRA BB      422     -
ISSUER NOT COOPERATING*
Snj Breweries Pvt Ltd                   TL Facility           ICRA BBB+    196.3   Upgraded
                                                                                   from ICRA BB
Snj Breweries Pvt Ltd                   LT Fund Based Faclity ICRA BBB+    350     Upgraded
                                                                                   from ICRA BB
Snj Breweries Pvt Ltd                   LT Unallocated Fac    ICRA BBB+    25.37   Upgraded
                                                                                   from ICRA BBB
Suguna Foods Pvt Ltd                    LT-TL Fac             ICRA A-      2888    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Suguna Foods Pvt Ltd                    LT - FB Fac           ICRA A-      9800    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Suguna Foods Pvt Ltd                    LT/ST - Proposed Fac  ICRA A- /    88.7    Upgraded
                                                              ICRA A2+             from ICRA
                                                                                   BBB+ / ICRA
                                                                                   A2
Suguna Foods Pvt Ltd                    LT Unallocated Fac    ICRA BBB+    2537    Upgraded
                                                                                   from ICRA BB
Suryoday Small Finance Bank Ltd         LT Bk Lines           ICRA A-      2519.6  Reaffirmed
Suryoday Small Finance Bank Ltd         NCD                   ICRA A-      2135    Reaffirmed
Suryoday Small Finance Bank Ltd         Sub. Debt Programme#  ICRA A-      350     Reaffirmed
previously rated as Non-Convertible Debenture
Suryoday Small Finance Bank Ltd         Subordinated Debt     ICRA A-      150     Reaffirmed
                                        Programme
Suryoday Small Finance Bank Ltd         LT Bk Lines           ICRA A-      -       Reaffirmed
Suryoday Small Finance Bank Ltd         NCD                   ICRA A-      -       Reaffirmed
Suryoday Small Finance Bank Ltd         Subordinated Debt     ICRA A-      -       Reaffirmed
                                        Programme
United Seamless Tubulaar Pvt            Non Convertible Bonds ICRA D       1550    -
Ltd
ISSUER NOT COOPERATING*
Ltd                                     Non-FBL
ISSUER NOT COOPERATING*
Waterline Hotels Pvt Ltd                LT TL                 ICRA B-      270     -
Information not yet received from the issuer
--------------------------------------------------------------------------------------------
$: 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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