February 8, 2018 / 10:30 AM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Feb 8

 (Repeating to add more ratings)
    Feb 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 7, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anoop Forgings Pvt Ltd                  Non-fund based-Inland ICRA A4      5       Reaffirmed
                                        LOC
Lincoln Pharmaceuticals Ltd             Non-fund Based LOC    ICRA A2      100     Reaffirmed
                                        (LC)
Lincoln Pharmaceuticals Ltd             Non-fund Based BG (BG)ICRA A2      20      Reaffirmed
Lincoln Pharmaceuticals Ltd             Non-fund Based LC/BG  ICRA A2      50      Reaffirmed
Lincoln Pharmaceuticals Ltd             FB Standby Line of    -            -       -
                                        Credit
Lincoln Pharmaceuticals Ltd             Non-fund Based        -            -       -
                                        Standby Line of Credit
L&T Infra Debt Fund Ltd                 CP                    ICRA A1+     5000    outstanding
Natural Capsules Ltd                    ST Non-FB Fac         ICRA A3+     12.9    Reaffirmed
Zed Vitrified Pvt Ltd                   Non-fund based-BG     ICRA A4      45      Reaffirmed
Zed Vitrified Pvt Ltd                   Non-fund based-Credit ICRA A4      0.6     Reaffirmed
                                        Exposure Limit

LONG TERM RATINGS:
-------------------
Andrew Yule &Co. Ltd                    LT FB Fac-CC          ICRA D       695.7   Downgraded
                                                                                   from ICRA BB+
Andrew Yule &Co. Ltd                    Unallocated Limits    ICRA D       176.7   Downgraded
                                                                                   from ICRA BB+
Andrew Yule &Co. Ltd                    ST Non FB Fac         ICRA D       407.6   Downgraded
                                                                                   from ICRA A4+
Anoop Forgings Pvt Ltd                  FB-CC*                ICRA B-      40      Affirmed
*the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd                  FB- Packing Credit*   ICRA B-      30      Affirmed
*the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd                  FB - FOBP/ FOUBP/     ICRA B-      40      Affirmed
                                        FOUBNLC/ FAUBC/ FABC*
*the total fund-based limit cannot exceed Rs. 6.00 crore
Faith Lumber Pvt. Ltd.                  Credit Exposure Limit -                    -
Faith Lumber Pvt. Ltd.                  FB – Buyer’s Credit   ICRA B+      190     Reaffirmed
Faith Lumber Pvt. Ltd.                  FB – CC               ICRA B+/ICRA 27.5    Reaffirmed
                                                              A4
Faith Lumber Pvt. Ltd.                  Unallocated Limit     ICRA                 Reaffirmed -
                                        Credit Exposure Limit B+/ICRA A4
Lincoln Pharmaceuticals Ltd             FB TL                 ICRA A-      77      Reaffirmed
Lincoln Pharmaceuticals Ltd             FB Working Capital FacICRA A-      530     Reaffirmed

L&T Infra Debt Fund Ltd                 NCD                   ICRA AAA     30000   Assigned
L&T Infra Debt Fund Ltd                 NCD                   ICRA AAA     40000   outstanding
Natural Capsules Ltd                    LT FB Fac             ICRA BBB     65      Reaffirmed
Natural Capsules Ltd                    Unallocated Fac       ICRA BBB /   47      Reaffirmed
                                                              ICRA A3+
Outlook revised from Negative to Stable
Shivam Jewels                           Fund based -TL        ICRA BBB-    7.3     -
Rating moved to the ‘Issuer Not Cooperating’ category
Shivam Jewels                           Fund based -          ICRA BBB-    180     -
                                        Working capital
Rating moved to the ‘Issuer Not Cooperating’ category
Srl Diagnostics Pvt Ltd                 FB Fac                ICRA A-      150     -
(rating watch has been changed from developing implications to negative implications)
Srl Diagnostics Pvt Ltd                 Non-FB Fac            ICRA A-/A2+  20      -
(rating watch has been changed from developing implications to negative implications)
Srl Ltd (Erstwhile Super                FB Fac                ICRA A+      240     -
Religare Laboratories Ltd)
(rating watch has been changed from developing implications to negative implications)
Srl Ltd (Erstwhile Super                Non-FB Fac            ICRA A+/A1+  45      -
Religare Laboratories Ltd)
(rating watch has been changed from developing implications to negative implications)
Sunflag Filaments Ltd                   Fund based -TL        ICRA A (SO)  0.8     Withdrawn
Sunflag Filaments Ltd                   Fund based – CC       ICRA A (SO)  40      Withdrawn
Sunflag Filaments Ltd                   Non-FBL               ICRA A (SO)  15      Withdrawn
Tamil Nadu Generation And               Non-Convertible Bonds ICRA A-(SO)  43475   outstanding
Distribution Corporation Ltd            Programme
Tamil Nadu Generation And               Non-Convertible Bonds Provisional  1500    Assigned
Distribution Corporation Ltd            Programme             ICRA
                                                              BBB+(SO)
Zed Vitrified Pvt Ltd                   FB-TL                 ICRA BB-     99.6    Reaffirmed
Zed Vitrified Pvt Ltd                   FB- CC                ICRA BB-     100     Reaffirmed
Zed Vitrified Pvt Ltd                   Unallocated Limit     ICRA BB-/    96      Reaffirmed
                                                              ICRA A4
--------------------------------------------------------------------------------------------
$: 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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