February 28, 2020 / 10:56 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Feb 28

 (Repeating to add more ratings)
    Feb 28 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of February 27, 2020.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Akp Ferrocast Pvt Ltd                   ST- Non-fund based    ICRA A4+     20      -
                                        limits
Bansal Fine Foods Pvt Ltd               ST non fundbased Fac  ICRA A4      60      -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Bansal Fine Foods Pvt Ltd               Interchangeable limitsICRA A4      -       -
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Carbon Edge Industries Ltd              Non-Fund Based- Line  ICRA A4      600     Downgraded
                                        of Credit                                  from ICRA A4+
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Carbon Edge Industries Ltd              Non-Fund BasedStand   ICRA A4      300     Downgraded
                                        by Line of Credit                          from ICRA A4+
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Commercial Syn Bags Ltd                 ST - Non-fund Based   ICRA A2      100     Reaffirmed
Emerald Jewel Industry India            Emerald Jewel         ICRA A2+     3620    -
Ltd                                     Industry India ST -
                                        Non-FBLed Fac
Reason for delay in carrying out periodic review Review process is underway
Emerald Jewel Industry India            Emerald Jewel         ICRA A2+     600     -
Ltd                                     Industry India ST-
                                        FBLed Fac
Reason for delay in carrying out periodic review Review process is underway
Energy Efficiency Services Ltd          Non-fund based – ST   ICRA A1+     700     -
Reason for delay in carrying out periodic review Review process is underway
Energy Efficiency Services Ltd          Fund based – ST       ICRA A1+     8850    -
Reason for delay in carrying out periodic review Review process is underway
Euro Footwear Ltd                       ST Non-FBL            ICRA A2      8       Withdrawn
Hariom Polypacks Ltd                    Non FBL               ICRA A4+     10      Withdrawn
Hitech Cellphone Pvt Ltd                Non-FBlimit Trust NameICRA A4      70      -
Continues to remain under ‘Issuer Not Cooperating’ category
Indian Oil Corporation Ltd              CP                    ICRA A1+     400000  outstanding
Jain Farm Fresh Foods Ltd               Non-fund Based -      ICRA A4      2550    Downgraded
                                        Working Capital Fac                        from ICRA A4+
Jain Farm Fresh Foods Ltd               ST Unallocated Limits ICRA A4      400     Downgraded
                                                                                   from ICRA A4+
Jaydeep Cotton Fibres Pvt. Ltd.         Non-FB-BG/LC          ICRA A3      -       Withdrawn
Jaydeep Cotton Fibres Pvt. Ltd.         Non-FB-               ICRA A3      45      Withdrawn
                                        Derivative/FC/CEL
Jaydeep Cotton Fibres Pvt. Ltd.         Non-FB- LC Backed     ICRA A3      200     Withdrawn
                                        Foreign Bill
                                        Discounting
Jaydeep Cotton Fibres Pvt. Ltd.         FB -optionally        ICRA A3      30      Withdrawn
                                        convertible debenture
                                        against FD
Jaydeep Cotton Fibres Pvt. Ltd.         Non-FB-Treasury       ICRA A3      20      Withdrawn
Kala Genset Pvt Ltd                     Non-fund based (BG)   ICRA A3+     50      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Kinetic Taigene Electrical Co.          ST – Fund Based       ICRA A2      -       -
Pvt. Ltd.
Rating continues to remain under ‘Issuer Not Cooperating’ category
Lahoti Overseas Ltd.                    ST, FB Limit          ICRA A3+     714.4   Reaffirmed
Lahoti Overseas Ltd.                    ST, Non-FBL           ICRA A3+     -       Reaffirmed
N G Projects Ltd                        Non-FB Limits         ICRA A3+     1700    Withdrawn
Nissan Renault Financial                CP                    ICRA A1+     4000    Reaffirmed
Services India Pvt Ltd
Psa Construction                        BG                    ICRA A4+     219.5   -
Rating moved to ‘Issuer Not Cooperating’ category
R.S. Infraprojects Pvt. Ltd.            Non-fund              ICRA A2+     650     Reaffirmed -
                                        based-Working Capital
                                        Fac Unallocated
Saj Food Products Pvt. Ltd.             Non-fund Based – BG/  ICRA A1      100     Reaffirmed
                                        LOC
Shakti Timber                           ST – Non-fund Based   ICRA A4      30      Assigned
Shri Hare Krishna Sponge Iron           NFBL                  ICRA A4      55      Withdrawn
Ltd
Som Distilleries & Breweries            Non-fund Based        ICRA A2+     180     Reaffirmed -
Ltd                                     Unallocated
Som Distilleries Pvt Ltd                Non-fund Based        ICRA A3      50      Assigned
Sun Pharmaceutical Industries           CP Programme          ICRA A1+     40000   Reaffirmed
Ltd
Sun Pharmaceutical Industries           ST, FB/NonFBL         ICRA A1+     70000   Reaffirmed
Ltd
T.K. International Ltd                  ST/NonFund Based      ICRA A4      5       -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Tata Capital Financial                  CP                    ICRA A1+     150000  outstanding
Services Ltd
Tata Capital Ltd                        CP Programme          ICRA A1+     20000   outstanding
Turbovent Industries Pvt Ltd            ST – Non-FB Fac       ICRA A4+     65      Reaffirmed
Vidushi Wires Pvt Ltd                   ST: FB – Packing      ICRA A4+     -       -
                                        credit cum Post -
                                        shipment Credit
Reason for delay in carrying out periodic review: Review process is underway
Vidushi Wires Pvt Ltd                   ST: Non Fundbased –   ICRA A4+     100     -
                                        LOC
Reason for delay in carrying out periodic review: Review process is underway
Vijayshree Electromech Pvt Ltd          Non-Fund based BG     ICRA A4      19.8    -
Continues to remain under ‘Issuer Not Cooperating’ category
Yenepoya (Deemed To Be                  ST - Non Fund Based   ICRA A4+     50      -
University)                                                   Rating as
                                                              per last Press Release
Reason for delay in carrying out periodic review: Review process is underway
Bharath Auto Cars Pvt Ltd               ST- Fund based        ICRA A4+     200     -
(Reason for delay in carrying out periodic review: Review process is underway)
Bharath Auto Cars Pvt Ltd               ST- Non-Fund Based    ICRA A4+     -       -
(Reason for delay in carrying out periodic review: Review process is underway)
Den Networks Ltd                        Non-fund Based        ICRA A1+ &;  300     -
                                        Working Capital Fac
(placed on watch with developing implications)
Garg Industries Ltd                     Non-FBL               ICRA A4      20      -
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Global Polybags Industries Pvt          ST FB Fac             ICRA A4      650     -
Ltd
(ISSUER NOT COOPERATING’; Withdrawn)
Global Polybags Industries Pvt          ST – non-FB Fac       ICRA A4      610     -
Ltd
(ISSUER NOT COOPERATING’; Withdrawn)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     15000   Outstanding
Iifl Wealth Finance Ltd                 CP Programme (IPO     ICRA A1+;    60000   Outstanding
                                        Financing)
Kwality Foundry Industries              Non-Fund Based – BG/  ICRA A4      20      -
                                        LOC
(; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Kwality Foundry Industries              Untied Limits         ICRA A4      3.1     -
(; Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Neelkamal Steels Pvt Ltd                Non-Fund Based – LOC  ICRA A4+     50      -
(; Rating downgraded from ICRA A3 and continues to remain under ‘Issuer Not Cooperating’
category)
Nirma Ltd                               CP Programme          ICRA A1+     15000   -
(rating placed on watch with developing implications)
Pitambara Foods                         Non-FBL – BG          ICRA A4      25      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Precious Jewels Corporation             FB Packing Credit     ICRA A4+     200     -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Precious Jewels Corporation             Unallocated           ICRA A4+     10      -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Rajsamadhiyala Spintex Pvt Ltd          Non-FB Limits Credit  ICRA A4      35      -
                                        Exposure Limit
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rajsamadhiyala Spintex Pvt Ltd          Non-FB Limits BG      ICRA A4      4       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rane Brake Lining Ltd                   CP                    ICRA A1+     -       Withdrawn
Rane Brake Lining Ltd                   ST non-fund based     ICRA A1+;    195     Reaffirmed
Rane Brake Lining Ltd                   ST non-fund based -   ICRA A1+;    -       Reaffirmed
                                        sublimit
Rane Brake Lining Ltd                   ST non-fund based –   ICRA A1+;    -       Reaffirmed
                                        sublimit#
Siddharth Exports                       ST/NonFund Base       ICRA A4+     27      -
(Issuer did not co-operate; based on best available information.)
Signature Ceramic Pvt. Ltd              Non-FB Limits BG      ICRA A4      14      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sun Pharma Laboratories Ltd             CP Programme          ICRA A1+     30000   Reaffirmed
Sun Pharma Laboratories Ltd             ST, FB / Non-FBL      ICRA A1+     7000    Reaffirmed


LONG TERM RATINGS:
-------------------
Ace Manufacturing Systems Ltd.          Bk loan ratings       ICRA AA-     977.5   -
                                                              (Stable)/A1+
Reason for delay in carrying out periodic review: Review process is underway
Aisshpra Lifespaces                     FB -/ TL              ICRA BB-     300     -
                                                              (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Akarshak Infrastructure Pvt Ltd         LT – TL               ICRA BBB     18000   Assigned
                                                              (Stable)
Akp Ferrocast Pvt Ltd                   LT – FBL              ICRA BB+     115     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BBB- (Stable)
Moved to the ‘Issuer Not Cooperating’ category
Akp Ferrocast Pvt Ltd                   LT – TL               ICRA BB+     50      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BBB- (Stable)
Moved to the ‘Issuer Not Cooperating’ category
Ashoka Foam Pvt Ltd                     Fund Based- CC        ICRA B+      50      -
                                                              (Stable)
Moved to the ‘Issuer Not Cooperating’ category
Ashoka Foam Pvt Ltd                     Fund Based- TL        ICRA B+      100     -
                                                              (Stable)
Moved to the ‘Issuer Not Cooperating’ category
Avani Petrochem Pvt Ltd                 FB limits             ICRA B+      506     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Bajrang Ginning Amp; Pressing           Fund based-CC         ICRA D       80      -
Factory
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Bansal Fine Foods Pvt Ltd               CC                    ICRA B+      300     Downgraded
                                                              (Stable)             from ICRA BB
                                                                                   (Stable)
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Carbon Edge Industries Ltd              Fund Based-TL         ICRA B+      49.4    Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Carbon Edge Industries Ltd              Fund Based-CC         ICRA B+      100     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Carbon Edge Industries Ltd              Proposed Facility     ICRA B+      40.6    Downgraded
                                                              (Stable) /           from ICRA
                                                              ICRA A4              BB+
(Stable)/ICRA A4+
(Rating continues to remain under the ‘Issuer Not Cooperating’ category)
Cochin International Airport            FB TL Issue Name LT   ICRA AA-     4125    Reaffirmed
Ltd                                     Fund based - CC(CC)   (Stable)
                                        LT Fund based – TL
Commercial Syn Bags Ltd                 LT - Fund Based/ CC   ICRA BBB+    441.5   Reaffirmed
                                                              (Stable)
Commercial Syn Bags Ltd                 LT – FB TL            ICRA BBB+    316.2   Reaffirmed
                                                              (Stable)
Commercial Syn Bags Ltd                 LT / ST - Unallocated ICRA BBB+    2.3     Reaffirmed
                                                              (Stable) /
                                                              ICRA A2
Dabur India Ltd                         NCD Programme ST      ICRA AAA     150     Reaffirmed
                                        non-fund based –      (Stable)
                                        sublimit#
Ds-Max Realty Pvt Ltd                   Unallocated Name of   ICRA BBB-    150     Reaffirmed
                                        the rated entity      (Stable)
Duratex Exports                         Duratex Exports       ICRA B       -       -
                                                              (Stable) /
                                                              ICRA A4
Issuer not cooperating
Emerald Jewel Industry India            Emerald Jewel         ICRA A-      1000    -
Ltd                                     Industry India Fund   (Stable)
                                        based-TL Limited
Reason for delay in carrying out periodic review Review process is underway
Emerald Jewel Industry India            Emerald Jewel         ICRA A-      630     -
Ltd                                     Industry India Fund   (Stable)
                                        based- Working Capital Limited Fac
Reason for delay in carrying out periodic review Review process is underway
Emerald Jewel Industry India            Emerald Jewel         ICRA A-      400     -
Ltd                                     Industry India LT /   (Stable) /
                                        ST:Interchangeable FacICRA A2+
Reason for delay in carrying out periodic review Review process is underway
Emerald Jewel Industry India            Emerald Jewel         ICRA A-      300     -
Ltd                                     Industry India LT /   (Stable) /
                                        ST: Unallocated       ICRA A2+
Reason for delay in carrying out periodic review Review process is underway
Energy Efficiency Services Ltd          NCD                   ICRA AA-     15000   -
                                                              (Stable)
Reason for delay in carrying out periodic review Review process is underway
Energy Efficiency Services Ltd          Unallocated limits    ICRA AA-     450     -
                                                              (Stable) /
                                                              ICRA A1+
Reason for delay in carrying out periodic review Review process is underway
Euro Footwear Ltd                       FB Working Capital    ICRA BBB+    180     Withdrawn
                                                              (Stable)
Euro Footwear Ltd                       TL                    ICRA BBB+    2       Withdrawn
                                                              (Stable)
Euro Footwear Ltd                       Proposed LT Limits    ICRA BBB+    10      Withdrawn
                                                              (Stable)
Green Mobiles                           FB Working Capital FacICRA BBB &   4600    -
Reason for delay in carrying out periodic review Issuer not cooperating
Green Mobiles                           Unallocated           ICRA BBB &   400     -
                                        
Reason for delay in carrying out periodic review Issuer not cooperating
Hari Darshan Exports Pvt Ltd            BLR                   ICRA BBB     1500    -
                                                              (Stable) /
                                                              ICRA A3+
Reason for delay in carrying out periodic review Review process is underway
Hariom Polypacks Ltd                    Fund based-TL         ICRA BB+     107.5   Withdrawn
                                                              (Stable)
Hariom Polypacks Ltd                    Fund based-CC         ICRA BB+     72.5    Withdrawn
                                                              (Stable)
Haryana State Industrial And            LT FB working capital ICRA BBB+    87550   Withdrawn
Infrastructure Development              limit                 (Negative)
Corporation Ltd
Haryana State Industrial And            LT/ ST fundbased      ICRA BBB+    62450   Withdrawn
Infrastructure Development                                    (Negative)
Corporation Ltd                                               / A2
Hitech Cellphone Pvt Ltd                FB-limit              ICRA B+      80      Downgraded
                                                              (Stable)             from ICRA BB
                                                                                   (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Hitech Cellphone Pvt Ltd                Unallocated-limit     ICRA B+      50      Downgraded
                                                              (Stable)             from ICRA BB
                                                                                   (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Il&Fs Tamil Nadu Power Co. Ltd          LT - TL               ICRA D       60800   -
Reason for delay in carrying out periodic review Issuer not cooperating
Il&Fs Tamil Nadu Power Co. Ltd          Non- Convertible      ICRA D       5000    -
                                        Debentures
Reason for delay in carrying out periodic review Issuer not cooperating
Indian Oil Corporation Ltd              NCD programme         ICRA AAA     20000   outstanding
                                                              (Stable)
Indian Oil Corporation Ltd              NCD programme         ICRA AAA     30000   Assigned
                                                              (Stable)
Indian Steel Corporation Ltd            TL*                   ICRA D       12200   Reaffirmed
*including WCTL, FITL and Corporate Loans
Indian Steel Corporation Ltd            FB Limits             ICRA D       1488.6  Reaffirmed
Indian Steel Corporation Ltd            Non-FBL               ICRA D       10328.2 Reaffirmed
Indian Steel Corporation Ltd            Unallocated           ICRA D       1188.5  Reaffirmed
Jain Farm Fresh Foods Ltd               TL                    ICRA C       1500    Downgraded
                                                                                   from ICRA
                                                                                   BB+
(Negative)
Jain Farm Fresh Foods Ltd               FB - Working Capital  ICRA C       2850    Downgraded
                                        Fac                                        from ICRA
                                                                                   BB+
(Negative)
Jain Farm Fresh Foods Ltd               LT Unallocated Limits ICRA C       500     Downgraded
                                                                                   from ICRA
                                                                                   BB+
(Negative)
Jaydeep Cotton Fibres Pvt. Ltd.         FB-CC                 ICRA BBB-    820     Withdrawn
                                                              (Stable)
Jaydeep Cotton Fibres Pvt. Ltd.         FB -TL                ICRA BBB-    105.4   Withdrawn
                                                              (Stable)
Jaydeep Cotton Fibres Pvt. Ltd.         Unallocated Limits    ICRA BBB-    466.2   Withdrawn
                                        Previous Current      (Stable)/
                                        Rated Rated Amount AmoICRA A3
Kala Genset Pvt Ltd                     Fund based- Working   ICRA BBB     300     -
                                        Capital Fac           (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Kapoor Oil Industries                   FB – CC^              ICRA B       60      -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category,^ Cash Credit facility
comprises limit of Rs. 4.50 crore for cotton ginning and pressing u
Kapoor Oil Industries                   FB – TL               ICRA B       14      -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Lahoti Overseas Ltd.                    LT & ST Unallocated   ICRA         360.1   Reaffirmed
                                        Limits                BBB/ICRA A3+
Outlook revised to Negative from (Stable)
Mass Cashews                            Bk loan ratings       ICRA BB-     90      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Midland Microfin Ltd                    Vivriti Toby 01 PTC   ICRA A-(SO)  1.4     Withdrawn
                                        Series A2
Midland Microfin Ltd                    PTC Series A1 Vivriti ICRA A(SO)   179.3   Withdrawn
                                        Roland 06
Midland Microfin Ltd                    Vivriti Toby 01 PTC   ICRA A(SO)   248.1   Withdrawn
                                        Series A1
Midland Microfin Ltd                    PTC Series A2 Vivriti ICRA A-(SO)  4.1     Withdrawn
                                        Roland 06
Mohan Energy Corporation Pvt            LT – Fund Based CC    ICRA BB-     20      -
Ltd                                                           (Negative)
Reason for delay in carrying out periodic review: Review process is underway
Mohan Energy Corporation Pvt            LT – Non-fund Based BGICRA BB-     810     -
Ltd                                                           (Negative)
Reason for delay in carrying out periodic review: Review process is underway
N G Projects Ltd                        FB Limits             ICRA BBB     300     Withdrawn
                                                              (Positive)
Nissan Renault Financial                NCD                   ICRA AA+     1000    Revised from
Services India Pvt Ltd                                        (Negative)           ICRA
                                                                                   AAA(Negative)
Parmanand And Sons Food                 CC                    ICRA BBB-    775     Reaffirmed
Products Pvt Ltd                                              (Stable)
Parmanand And Sons Food                 TL                    ICRA BBB-    16      Reaffirmed
Products Pvt Ltd                                              (Stable)
Pragati Cotton Industries               Fund based-CC         ICRA D       50      -
Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category
Pragati Cotton Industries               Fund Based-TL         ICRA D       15.5    -
Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category
Psa Construction                        LT FB                 ICRA BB+     9       -
                                                              (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Psa Construction                        Unallocated           ICRA BB+     1.5     -
                                                              (Stable)/A4+
Rating moved to ‘Issuer Not Cooperating’ category Amount (Rs. crore)
Pyrotech Workspace Solutions            Fund based – OverdraftICRA BB      120     -
Pvt Ltd                                                       (Stable)
Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category
Pyrotech Workspace Solutions            Non-fund Based – BG   ICRA BB      195     -
Pvt Ltd                                                       (Stable)
Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category
Pyrotech Workspace Solutions            Unallocated           ICRA BB      35      -
Pvt Ltd                                                       (Stable)
Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category
R.S. Infraprojects Pvt. Ltd.            FB-TL                 ICRA A-      -       Reaffirmed
                                                              (Stable)
R.S. Infraprojects Pvt. Ltd.            FB- Working Capital   ICRA A-      800     Reaffirmed
                                        Fac                   (Stable)
R.S. Infraprojects Pvt. Ltd.            Non-fund              ICRA A-      3650    Reaffirmed
                                        based-Working Capital (Stable)
                                        Fac
Rahul Silk Mills Pvt. Ltd.              FB - TL               ICRA BB      90      Withdrawn
                                                              (Stable)
Rahul Silk Mills Pvt. Ltd.              FB – CC Current Rated ICRA BB      10      Withdrawn
                                        Amount TL             (Stable)
                                        Rating Without Explicit Credit Enhancement
Rawmate Solutions                       Issuer Rating         ICRA B       -       -
                                                              (Stable)
Rating moved to issuer not cooperating category
Reliance Jio Infocomm Ltd               NCD                   ICRA AAA (   355     -
                                                              (Stable))
Roop Technology Pvt Ltd                 LT FB / non-FB        ICRA D       143.7   Downgraded
                                                                                   from ICRA B
                                                                                   (Stable)
Moved to ‘Issuer Not Cooperating’ category
Roop Technology Pvt Ltd                 LT - interchangeable  ICRA D       -       Downgraded
                                                                                   from ICRA B
                                                                                   (Stable)
Moved to ‘Issuer Not Cooperating’ category
Roop Technology Pvt Ltd                 ST - interchangeable  ICRA D       -       Downgraded
                                                                                   from ICRA A4
Moved to ‘Issuer Not Cooperating’ category
Roop Technology Pvt Ltd                 LT / ST - unallocated ICRA D       6.3     Downgraded
                                                                                   from ICRA B
                                                                                   (Stable) / 
                                                                                   ICRA A4
Moved to ‘Issuer Not Cooperating’ category
Saj Food Products Pvt. Ltd.             Fund Based – TL       ICRA A       350     Reaffirmed
                                                              (Stable)
Saj Food Products Pvt. Ltd.             Fund based – CC       ICRA A       500     Reaffirmed
                                                              (Stable)
Saket Education Society                 TL                    ICRA A-      130     Withdrawn
                                                              (Stable)
Samdariya Builders Pvt. Ltd.            Fund based/CC         ICRA B+      2.4     -
                                                              (Stable),
Continues to remain in the ‘ISSUER NOT COOPERATING’ category
Samdariya Builders Pvt. Ltd.            Fund based/TL         ICRA B+      201.9   -
                                                              (Stable),
Continues to remain in the ‘ISSUER NOT COOPERATING’ category
Samdariya Builders Pvt. Ltd.            Unallocated           ICRA B+      295.7   -
                                                              (Stable),
Continues to remain in the ‘ISSUER NOT COOPERATING’ category
Santlal Industries Ltd                  LT FB                 ICRA BB+     750     -
                                                              (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Saurat Auto Tech Pvt Ltd                Fund Based-TL         ICRA B+      33      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
and Moved to under ‘Issuer Not Cooperating’ category.
Saurat Auto Tech Pvt Ltd                Fund Based-CC         ICRA B+      50      Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
and Moved to under ‘Issuer Not Cooperating’ category.
Saurat Auto Tech Pvt Ltd                Unallocated           ICRA B+      2       Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
and Moved to under ‘Issuer Not Cooperating’ category.
Shakti Timber                           LT/ ST – Fund         ICRA B+      20      Assigned
                                        Based/Non-Fund based  (Stable)/
                                                              ICRA A4
Shankara Vehicles Pvt. Ltd.             FB – CC               ICRA B+      90      -
                                                              (Stable)
Rating moved to issuer not cooperating category
Shankara Vehicles Pvt. Ltd.             FB –TL                ICRA B+      5       -
                                                              (Stable)
Rating moved to issuer not cooperating category
Shankara Vehicles Pvt. Ltd.             Unallocated Limits    ICRA B+      5       -
                                                              (Stable)
Rating moved to issuer not cooperating category
Shivam Concrete Technology &            FB – CC               ICRA B+      42      Downgraded
Consultancy Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BB- (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Shivam Concrete Technology &            FB – TL               ICRA B+      12.5    Downgraded
Consultancy Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BB- (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Shivam Concrete Technology &            Non- fund based – BG  ICRA B+      60      Downgraded
Consultancy Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BB- (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Shivam Concrete Technology &            Unallocated Limits    ICRA B+      5       Downgraded
Consultancy Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BB- (Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Shivam Pipe Industries                  FB -TL                ICRA D       35      -
Rating moved to issuer not cooperating category
Shivam Pipe Industries                  FB -CC                ICRA D       55      -
Rating moved to issuer not cooperating category
Shivam Pipe Industries                  Non-fund Based- BG    ICRA D       20      -
Rating moved to issuer not cooperating category
Shivam Transport Company                Fund based-CC         ICRA B+      70      -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shree Ram Cotton Industries             FB-CC                 ICRA B+      65      -
(Tankara)                                                     (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Shree Ram Cotton Industries             Unallocated Limit     ICRA B+      21.3    -
(Tankara)                                                     (Stable) /
                                                              ICRA A4
Rating moved to ‘Issuer Not Cooperating’ category
Shri Hare Krishna Sponge Iron           FBL - CC              ICRA B       80      Withdrawn
Ltd                                                           (Stable)
Siva Valli Vilas Jewellers Pvt          LT FB Fac             ICRA BB      260     Withdrawn
Ltd                                                           (Stable)
Skn- Haryana City Gas                   FB                    ICRA BB+&,   70.8    -
Distribution Pvt Ltd
Ratings put on watch with developing implications
Skn- Haryana City Gas                   Non-fund Based        ICRA BB+&,   100     -
Distribution Pvt Ltd
Ratings put on watch with developing implications
Som Distilleries & Breweries            Fund Based - Working  ICRA BBB+    280     Reaffirmed
Ltd                                     Capital               (Stable)
Som Distilleries & Breweries            Fund Based - TL       ICRA BBB+    603.2   Reaffirmed
Ltd                                                           (Stable)
Som Distilleries & Breweries            Issuer Rating         ICRA BBB+    -       -
Ltd                                                           (Stable)
put on notice of withdrawal
Som Distilleries & Breweries            Fund Based - Working  ICRA BBB+    100     Assigned
Odisha Pvt Ltd                          Capital               (Stable)
Som Distilleries & Breweries            Fund Based - TL       ICRA BBB+    200     Assigned
Odisha Pvt Ltd                                                (Stable)
Som Distilleries Pvt Ltd                Fund Based - Working  ICRA BBB-    300     Assigned
                                        Capital               (Stable)
Som Distilleries Pvt Ltd                Fund Based - TL       ICRA BBB-    579.8   Assigned
                                                              (Stable)
Som Distilleries Pvt Ltd                Unallocated           ICRA BBB-    234     Assigned
                                                              (Stable)
Sri Kirthi Power Solutions              LT - Fund Based TL    -            80      Upgraded to
India Pvt Ltd                                                                      ICRA B
                                                                                   (Stable) 
                                                                                   from ICRA D
removed from Issuer Not Cooperating category
Sri Kirthi Power Solutions              LT - Unallocated      -            20      Upgraded to
India Pvt Ltd                                                                      ICRA B
                                                                                   (Stable) 
                                                                                   from ICRA D
removed from Issuer Not Cooperating category
Sri Nakoda Construction Ltd             Fund Based- TL        ICRA D       36.7    -
Reason for delay in carrying out periodic review Issuer delayed in giving information
Sri Nakoda Construction Ltd             Fund Based- CC        ICRA D       50      -
Reason for delay in carrying out periodic review Issuer delayed in giving information
Sri Nakoda Construction Ltd             Fund Based-           ICRA D       1413.3  -
                                        Unallocated
Reason for delay in carrying out periodic review Issuer delayed in giving information
Sun Pharmaceutical Industries           LT/ST, Proposed       ICRA AAA     20000   Reaffirmed
Ltd                                     Borrowing Programme   (Stable) /
                                                              ICRA A1+
T.K. International Ltd                  LT Fund based/ CC     ICRA B-      27.5    -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
T.K. International Ltd                  LT Fund based/ TL     ICRA B-      92.5    -
                                                              (Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Tata Capital Financial                  Perpetual debt        ICRA AA+     10865.5 outstanding
Services Ltd                            programme             (Stable)
Tata Capital Financial                  Retail bonds          ICRA AAA     50000   Assigned
Services Ltd                            programme (inlc. NCDs (Stable)
                                        and subordinated debt)
Tata Capital Financial                  NCD programme         ICRA AAA     132934.5outstanding
Services Ltd                                                  (Stable)
Tata Capital Financial                  Subordinated debt     ICRA AAA     19054.5 outstanding
Services Ltd                            programme             (Stable)
Tata Capital Financial                  LT/ST – FB / NFB      ICRA AAA     250000  outstanding
Services Ltd                                                  (Stable) /
                                                              ICRA A1+
Tata Capital Ltd                        NCD programme         ICRA AAA     5000    Assigned
                                                              (Stable)
The Krishna Sahakari Sakkare            LT Fund based /CC     ICRA B       2290    -
Karkhane Niyamit                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
The Krishna Sahakari Sakkare            LT – Fund based TL    ICRA B       820     -
Karkhane Niyamit                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Thermax Engineering                     Fund Based – Working  ICRA AA      70      -
Construction Co. Ltd                    Capital Fac           (Stable)
Reason for delay in carrying out periodic review Review process in underway
Thermax Engineering                     Non-Fund Based –      ICRA AA+     900     -
Construction Co. Ltd                    Working Capital Fac   (CE)
                                                              (Stable)
Reason for delay in carrying out periodic review Review process in underway
Theruvath Builders                      Bk loan ratings       ICRA BB      400     -
                                                              (Stable)/A4
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Turbovent Industries Pvt Ltd            LT – TL               ICRA BB      12.1    Reaffirmed
                                                              (Stable)
Turbovent Industries Pvt Ltd            LT – FB Fac           ICRA BB      70      Reaffirmed
                                                              (Stable)
Turbovent Industries Pvt Ltd            LT/ST – Proposed Fac  ICRA BB      68.8    Reaffirmed
                                                              (Stable) /
                                                              ICRA A4+
Unique Multifilms Virudhunagar          LT - Fund Based/ CC   ICRA B+      25      Rating
Pvt Ltd                                                       (Stable)
Downgraded from ICRA BB- (Stable) and continues to remain under ‘Issuer Not Cooperating’
category
Uni-Tech Automation Pvt Ltd             Fund based – CC       ICRA B+      100     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category.
Uni-Tech Automation Pvt Ltd             Fund based – TL       ICRA B+      120     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB+ (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category.
Uni-Tech Automation Pvt Ltd             Unallocated limit     ICRA B+      90      Downgraded
                                                              (Stable) /           from ICRA
                                                              ICRA A4              BB+ (Stable)/
                                                                                   ICRA A4+
Continues to remain under the ‘Issuer Not Cooperating’ category.
Vibrant Processors Pvt Ltd              BLR                   ICRA BB-     161.5
                                                              (Stable)/
                                                              ICRA A4
Reason for delay in carrying out periodic review: Review process is underway
Vidushi Wires Pvt Ltd                   LT: FB – CC           ICRA BB      270     -
                                                              (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Vijayshree Electromech Pvt Ltd          Fund based-TL         ICRA B+      50      Downgraded
                                                              (Stable)             from ICRA BB-
Continues to remain under ‘Issuer Not Cooperating’ category
Woodpecker Distilleries &               Fund Based - Working  ICRA BBB+    250     Reaffirmed
Breweries Pvt Ltd                       Capital               (Stable)
Woodpecker Distilleries &               Fund Based - TL       ICRA BBB+    250     Reaffirmed
Breweries Pvt Ltd                                             (Stable)
Woodpecker Distilleries &               Unallocated           ICRA BBB+    150     Reaffirmed
Breweries Pvt Ltd                                             (Stable)/A2+
Yamuna Syndicate Ltd                    FBL                   ICRA BBB     45      -
                                                              (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Yamuna Syndicate Ltd                    Unallocated limits    ICRA BBB     57      -
                                                              (Stable) /
                                                              ICRA A2
Reason for delay in carrying out periodic review: Review process is underway
Yenepoya (Deemed To Be                  LT Fund based /CC     ICRA BB+     100     -
University)                                                   (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Yenepoya (Deemed To Be                  LT – Fund based TL    ICRA BB+     550     -
University)                                                   (Stable)
Reason for delay in carrying out periodic review: Review process is underway
Aircel Cellular Ltd                     FB/NonFBL             ICRA D       174790^ -
(Issuer did not cooperate; based on best available information
^These limits are consolidated for Aircel Group; interchangeable among Aircel Limited, Aircel
Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited) 
Aircel Ltd                              FB/NonFBL             ICRA D       174790^ -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category. ^These limits are
consolidated for Aircel Group; interchangeable among Aircel Limited
Aircel Smart Money Ltd                  FB/ NonFBL            ICRA D       174790  -
(^These limits are consolidated for Aircel Group; interchangeable among Aircel Limited, Aircel
Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited,Issuer did not
co-operate; based on best available information.)
Bajrang Ginning & Pressing              Fund based-CC         ICRA D       80      -
Factory
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
Bharath Auto Cars Pvt Ltd               LT – CC               ICRA BB+     205     -
                                                              Stable
(Reason for delay in carrying out periodic review: Review process is underway)
Chandan Trading Company Pvt Ltd         FBL – CC              ICRA B+      110     -
                                                              (Stable);
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Den Networks Ltd                        FB Working Capital FacICRA AA- &   4700    -
(placed on watch with developing implications)
Den Networks Ltd                        Unallocated Limits    ICRA AA- &   366     -
                                                              / ICRA A1+
                                                              &;
(placed on watch with developing implications)
Den Networks Ltd                        FB TL                 ICRA]AA- &   -       -
(placed on watch with developing implications and withdrawn)
Dishnet Wireless Ltd                    FB/NonFBL             ICRA D       174790  -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Garg Industries Ltd                     FB limits             ICRA B       220     -
                                                              (Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Global Polybags Industries Pvt          LT - Fund based TL    ICRA         120     -
Ltd                                                           BB-(Stable)
(ISSUER NOT COOPERATING’; Withdrawn)
Gna Gears Ltd                           FB – TL               ICRA         425.5   Reaffirmed
                                                              BBB-(Stable)
Gna Gears Ltd                           FB – Working Capital  ICRA         700     Reaffirmed
                                        Fac                   BBB-(Stable)
Gna Gears Ltd                           Unallocated Limits    ICRA         74.5    Reaffirmed
                                                              BBB-(Stable)
Hyderabad Metropolitan Water            LT - Unallocated      ICRA         10000   -
Supply And Sewerage Board                                     B+(Stable)
(Rating downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      2000    Outstanding
                                                              (stable)
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      6500    Outstanding
                                        programme             (stable)
Iifl Wealth Finance Ltd                 LT principal          PP-MLD       2500    Assigned
                                        protected market      ICRA AA
                                        linked debenture progr(stable)
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  10000   Outstanding
                                        protected market      AA (stable)
                                        linked debenture programme
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  35500   Outstanding
                                        protected market      AA (stable)
                                        linked debenture programme
International Infrabuild Pvt            TL                    ICRA         750     Assigned
Ltd                                                           AA-(CE)
                                                              (Stable)
Kwality Foundry Industries              Fund Based – CC       ICRA B+      76.9    -
                                                              (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
L.C. Foods Ltd                          LT Fundbased          ICRA D       190     -
(Rating continues to remain in ‘Issuer Not Cooperating’ category)
L.C. Foods Ltd                          Non-FBL               ICRA D       20      -
(Rating continues to remain in ‘Issuer Not Cooperating’ category)
Magma Fincorp Ltd                       MFL PSB DA JAN'2020 - Provisional  1424    Final Rating
                                        Assignee Payouts      ICRA AA(SO
Milestone Buildcon Pvt Ltd              FB Fac – LRD          ICRA         6390    Reaffirmed
                                                              BBB-Stable
(Assigned for enhanced limits)
Milestone Buildcon Pvt Ltd              FB Fac – TL LT - Fund ICRA         4900    -
                                        Based/ CC 17.50       BBB-Stable
                                        17.50 ST non-fund based – sublimit#
(upgraded from ICRA BB+(Stable); assigned for enhanced limits)
Mody Education Foundation               LT Fund Based – TL    ICRA BBB+    180     Reaffirmed
(Formerly Known As Mody                                       (Stable);
Institute Of Education And Research)
Neelkamal Steels Pvt Ltd                Fund Based – CC       ICRA BB+     110     -
                                                              (Stable)
(Rating downgraded from ICRA BBB- (Stable) and continues to remain under ‘Issuer Not
Cooperating’ category)
Neelkamal Steels Pvt Ltd                Fund Based – TL       ICRA BB+     100     -
                                                              (Stable)
(Rating downgraded from ICRA BBB- (Stable) and continues to remain under ‘Issuer Not
Cooperating’ category)
New Vardhman Vitrified Pvt Ltd          Fund based-TL         ICRA D       198.2   -
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
New Vardhman Vitrified Pvt Ltd          Fund based-CC         ICRA D       150     -
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
New Vardhman Vitrified Pvt Ltd          Non-Fund Based-BG     ICRA D       67.5    -
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
New Vardhman Vitrified Pvt Ltd          Non-Fund              ICRA D       -       -
                                        Based-Foreign LOC@
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category '@sub-limit of term
loan; #sub-limit of cash credit)
New Vardhman Vitrified Pvt Ltd          Non-Fund based- LOC#  ICRA D       -       -
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
New Vardhman Vitrified Pvt Ltd          Unallocated Limits    ICRA D/D;    431.8   -
(Rating Continues to remain under issuer ‘Issuer Not Cooperating’ category)
Nirma Ltd                               NCD                   ICRA AA&     10000   -
(rating placed on watch with developing implications)
Nirma Ltd                               TL                    ICRA AA&     7500    -
(rating placed on watch with developing implications)
Ocean Pearl Hotels Pvt Ltd              LT/ST Unallocated     ICRA B+      10      -
                                                              (Stable) /A4
(Rating moved to the ‘Issuer Not Cooperating’ category)
Ocean Pearl Hotels Pvt Ltd              LT/FB                 ICRA         740     -
                                                              B+(Stable)
(Rating moved to the ‘Issuer Not Cooperating’ category)
Pitambara Foods                         FBL – CC              ICRA B+      35      -
                                                              (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Rajsamadhiyala Spintex Pvt Ltd          Fund based-TL         ICRA B       620     -
                                                              (Stable);
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rajsamadhiyala Spintex Pvt Ltd          Fund based-CC         ICRA B       100     -
                                                              (Stable);
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rane Brake Lining Ltd                   LT fund based         ICRA AA-     305     Reaffirmed
                                                              (Stable)
Rane Brake Lining Ltd                   LT unallocated        ICRA AA-     903.2   Reaffirmed
                                                              (Stable)
Rane Brake Lining Ltd                   ST fund based         -            250     Reaffirmed
Rane Brake Lining Ltd                   ST fund based -       -            -       Reaffirmed
                                        sublimit                       
Rane Brake Lining Ltd                   ST fund based –       -            -       Reaffirmed
                                        sublimit#                      
(# - Although the facility was denominated in foreign currency, ICRA’s rating for the same was
on national scale as distinct from international rating scale)
Sai Radha Pharma (India) Pvt            LT - Fund Based/ CC   ICRA B+      175     -
Ltd                                                           (Stable);
(Rating continues to remain in the ‘Issuer Not Cooperating ‘Category)
Seleno Steels Ltd                       Fund Based – CC       ICRA B       60      -
                                                              (Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Shrinivas (Gujarat)                     FBL – TL              ICRA BB+     350     -
Laboratories Pvt Ltd                                          (Stable);
(Rating downgraded from ICRA BBB- (Stable) and continues to remain under ‘Issuer Not
Cooperating’ category)
Shrinivas (Gujarat)                     FBL – CC              ICRA BB+     150     -
Laboratories Pvt Ltd                                          (Stable);
(Rating downgraded from ICRA BBB- (Stable) and continues to remain under ‘Issuer Not
Cooperating’ category)
Siddharth Exports                       LT Fund based/ CC     ICRA B+      40      -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Siddharth Exports                       LT Fund based/ TL     ICRA B+      6.5     -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Siddharth Exports                       LT/ST/Unallocated     ICRA B+      26.5    -
                                                              (Stable) /
                                                              ICRA A4+
(Issuer did not co-operate; based on best available information.)
Signature Ceramic Pvt. Ltd              Fund based-TL         ICRA B+      17.9    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Signature Ceramic Pvt. Ltd              Fund based-CC         ICRA B+      30      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Skyla Hospitality Pvt. Ltd              LT- Fund Based/ TL    ICRA         73.9    -
                                                              B+(Stable)
(Rating downgraded from ICRA BB- (Stable) and moved to ‘Issuer Not Cooperating’ category)
Skyla Hospitality Pvt. Ltd              LT- Fund Based/ CC    ICRA         5       -
                                                              B+(Stable)
(Rating downgraded from ICRA BB- (Stable) and moved to ‘Issuer Not Cooperating’ category)
Skyla Hospitality Pvt. Ltd              LT / ST - Unallocated ICRA         21.1    -
                                                              B+(Stable)
                                                              / A4
(Long term rating downgraded from ICRA BB- (Stable) moved to ‘Issuer Not Cooperating’ category)
Sri Balaji Agro Cold Storagge           LT Fund based - CC(CC)ICRA         50      Assigned
Llp                                                           B-(Stable)
Sri Balaji Agro Cold Storagge           LT Fund based – TL    ICRA         130     Assigned
Llp                                                           B-(Stable)
Sri Padmavathe Agro Cold                LT Fund based – TL    ICRA B-      -       Assigned
Storage Llp                             /CC                   Stable
Ss Corporate Securities Ltd             LT/ST FB/non-fund           BB /   600     -
                                        based Bk lines        A4
(Long-term rating reaffirmed at ICRA BB (Stable) and short-term rating downgraded to ICRA A4
from ICRA A4+)
Sun Pharma Laboratories Ltd             LT / ST, Proposed     ICRA AAA     -       Withdrawn
                                        Borrowing Programme   Stable,
Sunstar Overseas Ltd                    FBL                   ICRA D       5684.5  -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Sunstar Overseas Ltd                    TL                    ICRA D       2114.4  -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Sunstar Overseas Ltd                    Unallocated Limits    ICRA D       451.1   -
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Three C Green Developers Pvt            NCD Programme         ICRA D       2250    -
Ltd
(Rating Continues to remain under the ‘Issuer Not Cooperating’ category)
Vimalscop Product                       LT/ Fund based/CC     ICRA B+      100     -
                                                              (Stable)
(downgraded from ICRA BB- (Stable).Issuer did not co-operate; based on best available
information.)
Woodhill Infrastructure Ltd             LT FB limits          ICRA B+      630     -
                                                              (Stable)
(Downgraded from ICRA BB+(Stable).Continues to remain under the ‘Issuer Not Cooperating’
category)
Woodhill Infrastructure Ltd             LT interchangeable    ICRA B+      -       -
                                                              (Stable)
(Downgraded from ICRA BB+(Stable). Continues to remain under the ‘Issuer Not Cooperating’
category)
Woodhill Infrastructure Ltd             LT/ ST non-FBL        ICRA B+      1120    -
                                                              (Stable) /
                                                              ICRA A4
(Downgraded from ICRA BB+(Stable)/A4+.Continues to remain under the ‘Issuer Not Cooperating’
category)
Woodhill Infrastructure Ltd             LT/ ST unallocated    ICRA B+      20
                                                              (Stable) /
                                                              ICRA A4
(Downgraded from ICRA BB+(Stable)/A4+,Continues to remain under the ‘Issuer Not Cooperating’
category)
--------------------------------------------------------------------------------------------
$: 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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