February 7, 2019 / 11:23 AM / in 15 days

RPT-ICRA ratings for Indian debt instruments-Feb 7

 (Repeating to add additional ratings as of February 6, 2019)
   Feb 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 6, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anu Cashews                             Fund based facility   ICRA A4+     150     Reaffirmed
Anu Cashews                             Non-fund based        ICRA A4+     -       Reaffirmed
                                        facility
Eid Mohammad Nizamuddin                 ST - Non-fund Based   ICRA A4+     110     Reaffirmed
Housing Development Finance             CP programme          ICRA A1+     750000  Outstanding
Corporation Ltd
Stag International                      ST - Non-fund Based   ICRA A4+     10      Revised from
                                                                                   ICRA A3
Bajaj Electricals Ltd                   ST - FBL              ICRA A1+     3150    Outstanding
Bajaj Electricals Ltd                   ST – CP               ICRA A1+     5000    Assigned

MEDIUM TERM RATINGS:
-------------------
Housing Development Finance             Fixed deposit         MAAA         -       Outstanding
Corporation Ltd                         programme


LONG TERM RATINGS:
-------------------
Anu Cashews                             CC                    ICRA BB      -       Reaffirmed
Eid Mohammad Nizamuddin                 LT - Fund Based/ CC   ICRA BB      90      Reaffirmed
Housing Development Finance             NCDs programme        ICRA AAA     450000  Assigned
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     -       Withdrawn
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     1271150 Noted
Corporation Ltd
Housing Development Finance             Subordinated debt     ICRA AAA     55000   Outstanding
Corporation Ltd                         programme
Housing Development Finance             Issuer rating         ICRA AAA     -       Outstanding
Corporation Ltd
Housing Development Finance             Bk lines              ICRA AAA /   500000  Outstanding
Corporation Ltd                                               ICRA A1+
Karlo Automobiles (P) Ltd               Bk Fac                ICRA BB-     130     -
Issuer not cooperating
Madura Micro Finance Ltd-               PTC Series A1         ICRA A(SO)   449.9   Final
Northern Arc 2018 Mfi Kanaa
Madura Micro Finance Ltd -              PTC Series A          Provisional  356     Assigned
Northern Arc 2018 Mfi Paraak                                  ICRA A-(SO)
Mahalaxmi Technocast Ltd                Bk Fac                ICRA B       250     Issuer not
                                                              /ICRA A4             cooperating*
*moved to Issuer not cooperating category due to non submission of monthly 
‘No Default Statement’ (“NDS”) by the entity.
Mahesh Hardware & Pipes Pvt Ltd         FB Fac- Overdraft     ICRA BB+     300     Assigned
Mahesh Hardware & Pipes Pvt Ltd         FB Fac- Working       ICRA BB+     300     Assigned
                                        Capital Demand Loan
Meghnad Saha Institute Of               Overdraft limit       ICRA BB      100     Reaffirmed
Technology
Satya Microcapital Ltd.                 PTC Series A1         Provisional  200     Assigned
-Northern Arc 2019 Mfi Finnegan                               ICRA A(SO)
Satya Microcapital Ltd.                 PTC Series A2         Provisional  11.8    Assigned
-Northern Arc 2019 Mfi Finnegan                               ICRA BBB(SO)
Sonata Finance Pvt Ltd                  NCD                   ICRA BBB     4060    Reaffirmed
Sonata Finance Pvt Ltd                  LT Bk lines           ICRA BBB     5000    Reaffirmed
Sonata Finance Pvt Ltd                  Subordinated debt     ICRA BBB     150     Reaffirmed
Stag International                      LT - Fund Based/ CC   ICRA BB+     320     Revised from
                                                                                   ICRA BBB-
Stag International                      Unallocated           ICRA BB+ /   10      Revised from
                                                              ICRA A4+             ICRA
                                                                                   BBB-/ICRA A3
Bajaj Electricals Ltd                   LT - TL               ICRA A+      200     Outstanding
Bajaj Electricals Ltd                   LT - FBL              ICRA A+      3797    Outstanding
Bajaj Electricals Ltd                   LT/ST - Non-FBL       ICRA A+ /A1+ 27003   Outstanding
Bajaj Electricals Ltd                   LT/ST - Fund          ICRA A+ /A1+ 13275   Outstanding
                                        Based/NonFBL
Bajaj Electricals Ltd                   LT-NCD programme      Provisional  3500    Assigned
                                                              ICRA A+
--------------------------------------------------------------------------------------------
$: 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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