January 1, 2018 / 10:44 AM / 19 days ago

RPT-ICRA ratings for Indian debt instruments-Jan 1

 (Repeating to add more ratings.)
    Jan 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 29, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Andhra Petrochemicals Ltd               Non-fund based        ICRA A3      20      Upgraded
                                                                                   from ICRA A4+
Banas Stones Pvt Ltd                    ST FB                 ICRA A4      6.5     -
Review process is underway
Bel Optronic Devices Ltd                ST – Non Fund Based   ICRA A1+     60      Reaffirmed
Bharti Telecom Ltd                      CP                    ICRA A1+     55000   Assigned/
Champion Commercial Co. Ltd             Non-fund based- LOC** ICRA A4+     70      Reaffirmed
**One way interchangeability from letter of credit to buyer’s credit
 
Champion Commercial Co. Ltd             Fund based- Buyer’s   ICRA A4+     45      Reaffirmed
                                        credit
Cosmos Engitech Pvt Ltd                 LOC                   ICRA A4+     55      Reaffirmed
Gh Induction India Pvt Ltd              ST, Non-fund based    ICRA A2      80      Reaffirmed
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     15000   Assigned
(Erstwhile Iifl Real Estate             financing)
Ltd )
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     25000   outstanding
(Erstwhile Iifl Real Estate             financing)
Ltd )
Iifl Facilities Services Ltd            ST debt programme     ICRA A1+     7000    outstanding
(Erstwhile Iifl Real Estate
Ltd )
Jayco Synthetics                        One-time LOC          ICRA A4      0       Withdrawn
Mahesh Mercandise Pvt Ltd               Non-FBL Name of the   ICRA A4      195     Reaffirmed
                                        rated entity
Metro Ortem Ltd                         FB Limits             ICRA A2      2.3     Reaffirmed
Metro Tyres Ltd                         Non-FBL               ICRA A2+     500     Reaffirmed
Microtex Energy Pvt Ltd                 ST: Non-FBL           ICRA A4+     90      Reaffirmed
Mitsu Chem Plast Ltd                    Non FBL               ICRA A4+     20.5    Withdrawn
(Erstwhile Mitsu Chem Pvt Ltd)
National Autoplast                      ST Non Fund Based     ICRA D^      15.5    Withdrawn
^ Rating Suspended 
Ongc Mangalore Petrochemicals           Fund Based - Working  ICRA A1+&    35000   Reaffirmed
Ltd                                     Capital Fac --
                                        (Proposed)
& -under rating watch with developing implications
Ongc Mangalore Petrochemicals           Non-fund based -      ICRA A1+&    2500    Reaffirmed
Ltd                                     Working Capital 250
                                        Fac
& -under rating watch with developing implications
Ongc Mangalore Petrochemicals           CP                    ICRA A1+&    35000   Reaffirmed
Ltd
& -under rating watch with developing implications
Saravana Global Energy Ltd              ST Fundbased limits   ICRA D       100     -
ISSUER NOT COOPERATING
Saravana Global Energy Ltd              ST Non-FBL            ICRA D       125     -
ISSUER NOT COOPERATING
Sp Spinning Mills Pvt Ltd               Non-fund              ICRA A3+     82.5    Reaffirmed
                                        based-Working Capital
                                        Fac
Sri Krishna Pharmaceuticals Ltd         Non FB Limits         ICRA A2+     540     Reaffirmed
Sri Lakshmi Ammal Educational           ST non FB Fac         ICRA A2      100     -
Trust
ISSUER NOT COOPERATING
Tata Power Co. Ltd                      CP Programme          ICRA A1+     40000   Assigned /
                                                                                   outstanding
Taurus Packaging Pvt Ltd                NFBL                  ICRA A4      15      Issuer Not
                                                                                   Cooperating
Taurus Powertronics Pvt. Ltd            BG                    ICRA A4      70      -
Review process is underway
Taurus Powertronics Pvt. Ltd            Unallocated           ICRA A4      30      -
Review process is underway

LONG TERM RATINGS:
-------------------
A M Breweries Pvt Ltd                   LT Fund based         ICRA BB-     300     -
ISSUER NOT COOPERATING
A M Breweries Pvt Ltd                   LT Fund based- TL     ICRA BB-     1050    -
                                                              ISSUER NOT
                                                              COOPERATING *
ISSUER NOT COOPERATING
Andhra Petrochemicals Ltd               Fund Based – TermLoansICRA BBB-    328.3   Upgraded
                                                                                   from BB
Andhra Petrochemicals Ltd               Fund Based – CC       ICRA BBB-    350     Upgraded
                                                                                   from BB
Andhra Petrochemicals Ltd               Unallocated           ICRA BBB-    447.2   Upgraded
                                                                                   from BB
Annapurna Microfinance Pvt Ltd          PTC Series A1         Provisional  324.7   Assigned
                                                              ICRA A-(SO)
Arqube Industries (India) Ltd           FB Limits             ICRA BB      200     -
ISSUER NOT COOPERATING
Arqube Industries (India) Ltd           Non FB Limits         ICRA BB      15      -
ISSUER NOT COOPERATING
Arqube Industries (India) Ltd           Unallocated           ICRA BB      105     -
ISSUER NOT COOPERATING
Bajaj Capital Ltd                       LT – CC               ICRA BBB     35      Reaffirmed
Bajaj Capital Ltd                       LT – TL               ICRA BBB     207.5   Reaffirmed
Bajaj Capital Ltd                       LT - Unallocated TL   ICRA BBB     7.5     Reaffirmed
Banas Stones Pvt Ltd                    LT FB CC              ICRA BB-     55      -
Review process is underway
Banas Stones Pvt Ltd                    LT FB TL              ICRA BB-     12.5    -
Review process is underway
Bel Optronic Devices Ltd                LT – Fund Based / CC  ICRA AA+     400     Reaffirmed
Bpr Infrastructure Ltd                  FB Limits             ICRA BBB-    100     Reaffirmed
Bpr Infrastructure Ltd                  Non FB Limits         ICRA BBB-    600     Reaffirmed
Bpr Infrastructure Ltd                  Unallocated           ICRA BBB-    270     Reaffirmed
C. Dinesh Co. Pvt. Ltd.                 LT/ST FB limits       ICRA BBB-    750     Reaffirmed
                                                              ICRA A3
Champion Commercial Co. Ltd             LT-CC                 ICRA BB+     100     Reaffirmed
Champion Commercial Co. Ltd             Unallocated amount    ICRA BB+ /   35      Reaffirmed
                                                              ICRA A4+
Cherian Varkey Construction             Non-fund              -            -       Upgraded
Company Pvt Ltd                         based-Working Capital                      from ICRA BBB
                                        Fac
Cherian Varkey Construction             Fund based- Working   ICRA BBB+    840     Upgraded
Company Pvt Ltd                         Capital Fac 84.0                           from ICRA BBB
Cherian Varkey Construction             Non-fund              ICRA BBB+ /  1750    Upgraded
Company Pvt Ltd                         based-Working Capital ICRA A2+             from ICRA
                                                                                   BBB / ICR A3+
Cosmos Engitech Pvt Ltd                 CC                    ICRA BB+     85      Reaffirmed
Cosmos Engitech Pvt Ltd                 TL                    ICRA BB+     54.2    Reaffirmed
Cosmos Engitech Pvt Ltd                 Unallocated           ICRA BB+     2.3     Reaffirmed
                                                              /A4+
Della Adventure Amp; Resorts            TL                    ICRA B+      373.8   Withdrawn
Pvt Ltd
Embassy Property Developments           NCD                   ICRA         5540    -
Pvt Ltd                                                       BBB-(SO)
rating watch with developing implications
Embassy Property Developments           NCD                   ICRA         1090    -
Pvt Ltd                                                       BBB-(SO)
rating watch with developing implications
Embassy Property Developments           TL                    ICRA         10000   -
Pvt Ltd                                                       BBB-(SO)
rating watch with developing implications
Frostees Export (India) Pvt Ltd         FB limits             ICRA BB      180     Downgraded
                                                                                   from ICRA BB+
Frostees Export (India) Pvt Ltd         Non FB limits         ICRA BB      10      Downgraded
                                                                                   from ICRA BB+
Frostees Export (India) Pvt Ltd         Untied limits         ICRA BB      810     Downgraded
                                                                                   from ICRA
                                                                                   BB+/ ICRA A4+
Gh Induction India Pvt Ltd              LT, FB Fac            ICRA BBB+    30      Reaffirmed
Gh Induction India Pvt Ltd              LT, Unallocated       ICRA BBB+    27.6    Reaffirmed
Gna Gears Ltd                           Fund Based- TL        ICRA BBB-    326.3   Reaffirmed
Gna Gears Ltd                           Fund Based- Working   ICRA BBB-    700     Reaffirmed
                                        Capital Fac
Gna Gears Ltd                           Unallocated           ICRA BBB-    173.7   Reaffirmed
Ifmr Capital Finance Pvt Ltd            PTC Series A1         Provisional  402.9   Assigned
                                                              ICRA A-(SO)
Ifmr Capital Finance Pvt Ltd            PTC Series A2         Provisional  28      Assigned
                                                              ICRA C+(SO)
Iifl Facilities Services Ltd            Unsecured debt        ICRA AA      500     outstanding
(Erstwhile Iifl Real Estate             programme
Ltd )
Iifl Facilities Services Ltd            LT debt programme     ICRA AA      7000    outstanding
(Erstwhile Iifl Real Estate
Ltd )
Jayco Synthetics                        CC                    ICRA B+      62.5    Upgraded
                                                                                   from ICRA B
Jayco Synthetics                        TL                    ICRA B+      74.5    Upgraded
                                                                                   from ICRA B
Karnataka State Financial               Bond Programme Fund   ICRA         770     Reaffirmed
Corporation                             based-TL              AA-(SO)
Kbr Agro Industries                     Fund Based- CC        ICRA B       80      Issuer Not
                                                                                   Cooperating
Kbr Agro Industries                     Fund Based- TL        ICRA B       20      Issuer Not
                                                                                   Cooperating
Mahesh Mercandise Pvt Ltd               FB Limits             ICRA BB-     100     Reaffirmed
Mayajaal Entertainment Ltd              LT, FB                ICRA B-      250     Upgraded
                                                                                   from ICRA C+
Mayajaal Entertainment Ltd              LT, Unallocated       ICRA C+ -    0       -
Metro Ortem Ltd                         CC                    ICRA BBB+    56.3    Reaffirmed
Metro Tyres Ltd                         CC                    ICRA A-      1000    Reaffirmed
Metro Tyres Ltd                         Unallocated TL        ICRA A-      -       Reaffirmed
Microtex Energy Pvt Ltd                 LT: FB Working        ICRA BB+     125     Reaffirmed
                                        Capital Limits
Microtex Energy Pvt Ltd                 LT: TL                ICRA BB+     100     Reaffirmed
Mitsu Chem Plast Ltd                    FBL                   ICRA BB      293.3   Withdrawn
(Erstwhile Mitsu Chem Pvt Ltd)
National Autoplast                      TL                    ICRA D^      140     Withdrawn
^ Rating Suspended 
National Autoplast                      LT Fund Based         ICRA D^      35      Withdrawn
^ Rating Suspended
Ongc Mangalore Petrochemicals           Fund Based - CC Fac   ICRA AA+&    7500    Reaffirmed
Ltd
& -under rating watch with developing implications
Ongc Mangalore Petrochemicals           NCD                   ICRA AA+&    -       Withdrawn
Ltd
& -under rating watch with developing implications
Radix Industries (India) Ltd            FB limits             ICRA BB      130     Reaffirmed
Radix Industries (India) Ltd            Non-FBL Unallocated   ICRA         -       Reaffirmed
                                                              BB/ICRA A4
Ravindra Energy Ltd                     Bk loan Ratings       ICRA         293     -
                                                              B-/ICRA A4
Review process is underway
Ravindra Energy Ltd                     Bk loan Ratings       ICRA                 Reaffirmed
                                                              B-/ICRA A4
Riyan Paper Mill                        FB - Working Capital  ICRA B+      35      Assigned
                                        Facility
Riyan Paper Mill                        FB - TL               ICRA B+      59      Assigned
San Marine                              Fund based- Working   ICRA BB      40      Reaffirmed
                                        Capital Fac
San Marine                              Fund based- Working   ICRA BB      160     Reaffirmed
                                        Capital Fac - Proposed
Saravana Global Energy Ltd              TL                    ICRA D       287.4   -
ISSUER NOT COOPERATING
Saravana Global Energy Ltd              Fund based-CC         ICRA D       250     -
ISSUER NOT COOPERATING
Saravana Global Energy Ltd              Proposed Fac          ICRA D       37.6    -
ISSUER NOT COOPERATING
Sp Spinning Mills Pvt Ltd               Fund based- Working   ICRA BBB     70      Reaffirmed
                                        Capital Fac 8.00
Sp Spinning Mills Pvt Ltd               Unallocated limits    ICRA BBB     40      Reaffirmed
                                       
Sri Krishna Pharmaceuticals Ltd         Working-capital       ICRA A-      880     Reaffirmed
                                        Fundbased Limits
Sri Krishna Pharmaceuticals Ltd         TL                    ICRA A-      417     Reaffirmed
Sri Krishna Pharmaceuticals Ltd         Unallocated Limits    ICRA A-      33      Reaffirmed
                                        Subrata
Sri Lakshmi Ammal Educational           TL                    ICRA BBB+    1300    -
Trust
ISSUER NOT COOPERATING
Sri Lakshmi Ammal Educational           LT Fund based         ICRA BBB+    125     -
Trust
ISSUER NOT COOPERATING
Sri Lakshmi Ammal Educational           Proposed facility     ICRA BBB+ /  75      -
Trust                                   (LT/ST)               ICRA A2
ISSUER NOT COOPERATING
Surana Solar Ltd (Surana                Bk loan Ratings       ICRA         800     Issuer Not
Ventures Ltd)                                                 BB+/ICRA A4+         Cooperating
Tata Power Co. Ltd                      NCD                   ICRA AA-     50630   Reaffirmed
Taurus Packaging Pvt Ltd                Fund Based- CC        ICRA BB      65      Issuer Not
                                                                                   Cooperating
Taurus Packaging Pvt Ltd                Fund Based- TL        ICRA BB      16      Issuer Not
                                                                                   Cooperating
Taurus Packaging Pvt Ltd                Unallocated Limits    ICRA BB /A4  4       Issuer Not
                                                                                   Cooperating
Taurus Powertronics Pvt. Ltd            CC                    ICRA B+      20      -
Review process is underway
Valdel Engineers And                    Fund based- Working   -            -       -
Constructors Pvt Ltd                    Capital Fac
Valdel Engineers And                    Non-fund              -            -       -
Constructors Pvt Ltd                    based-Working Capital
                                        Fac
Valdel Engineers And                    Unallocated Limits    ICRA A /     -       Reaffirmed
Constructors Pvt Ltd                                          ICRA A1
--------------------------------------------------------------------------------------------
$: 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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