January 19, 2018 / 10:43 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Jan 19

 (Repeating to add additional ratings as of January 18, 2018)
    Jan 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 18, 2018.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Accord Plus Ceramics Pvt Ltd            Non-fund Based – BG   ICRA A4      2.3     Reaffirmed
Bg Fastening And Engineering            ST fund based         ICRA A4+     6       Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            ST Non-fund based     ICRA A4+     9.8     Assigned
Industries Pvt Ltd
Cdet Explosive Industries Pvt           ST, Non-fund Based    ICRA A2      3.5     Reaffirmed
Ltd
Crevita Granito Pvt Ltd                 Non-fund Based – BG   ICRA A4      4       Assigned
Dhanuka Laboratories Ltd                Non-fund Based –      ICRA A2      52      Reaffirmed
                                        Working Capital Fac
Global Copper Pvt Ltd                   ST non-FBL            ICRA A4      5.9     Withdrawn
Golani Brothers                         Non Fund based – BG   ICRA A4+     20      Withdrawn
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     2500    Assigned
(Erstwhile Iifl Real Estate             financing)
Ltd )
Iifl Facilities Services Ltd            CP programme (IPO     ICRA A1+     0       Withdrawn
(Erstwhile Iifl Real Estate             financing)
Ltd )
Iifl Facilities Services Ltd            CP programme          ICRA A1+     700     outstanding
(Erstwhile Iifl Real Estate
Ltd )
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     2000    Assigned
(Erstwhile Chephis Capital              financing)
Markets Ltd)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     -       Withdrawn
(Erstwhile Chephis Capital              financing)
Markets Ltd)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     5000    outstanding
(Erstwhile Chephis Capital
Markets Ltd)
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     2000    Assigned
                                        financing)
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     0       Withdrawn
                                        financing)
Iifl Wealth Management Ltd              CP programme          ICRA A1+     500     outstanding
India Infoline Finance Ltd              CP programme (IPO     ICRA A1+     6000    Assigned
                                        financing)
India Infoline Finance Ltd              CP programme (IPO     ICRA A1+     0       Withdrawn
                                        financing)
India Infoline Finance Ltd              CP programme          ICRA A1+     7000    outstanding
Kanan Devan Hills Plantations           Non-fund              ICRA A2+     3       Assigned
Company Pvt Ltd                         based-Working Capital
                                        Fac
Namasthetu Infratech Pvt Ltd            Non-Fund basedBG      ICRA A4      812     -
ISSUER NOT COOPERATING
Religare Finvest Ltd                    CP programme          ICRA A3      2000    Revised from
                                                                                   ICRA A1
rating put on watch with developing implications
Religare Housing Development            ST Debt programme     ICRA A3      200     Revised from
Finance Corporation                                                                ICRA A1
rating continues to be under rating watch with developing implications
State Bank Of India                     Certificates of       ICRA A1+     41500   outstanding
                                        Deposits Medium Term
                                        Deposits
outstanding
Sugam Parivahan Pvt Ltd                 Non-fund Based: BG    ICRA A3+     1.25    Reaffirmed
Farmico Commodities Ltd                 Fund based - Buyer’s  ICRA A4      90      Reaffirmed
(Erstwhile Wadhwani                     Credit
Commodities Trading Pvt. Ltd.)
Travancore Cocotuft Pvt Ltd             ST – FB               ICRA A4+     240
Issuer not cooperating
Travancore Cocotuft Pvt Ltd             ST – Non-fund based   ICRA A4+     25
Issuer not cooperating
Travancore Cocotuft Pvt Ltd             ST – Unallocated      ICRA A4+     2
Issuer not cooperating
Veer Plastics Pvt Ltd                   Non-fund Based        ICRA A2      255     Assigned/
                                        LOC/Letter of Comfort                      outstanding
Veer Plastics Pvt Ltd                   Non-fund Based BG     ICRA A2      96.7    Outstanding
Veer Plastics Pvt Ltd                   Non-fund Based Credit ICRA A2      42.8    Outstanding
                                        Exposure Limit
Veer Plastics Pvt Ltd                   Fund Based Export     ICRA A2              Outstanding
                                        Packing Credit
Zeco Aircon Ltd                         Non Fund based BG     ICRA A2      150
Issuer not cooperating


LONG TERM RATINGS:
------------------
Aavas Financiers Ltd                    PTC Series A          ICRA AA      107.67  Assigned
(Erstwhile Au Housing Finance                                 (SO)
Ltd)
confirmed as final
Accord Plus Ceramics Pvt Ltd            FB – TL               ICRA B+      13      Reaffirmed
Accord Plus Ceramics Pvt Ltd            FB – CC               ICRA B+      5       Reaffirmed
Adarsh Shikshan Sansthan                LT FB – TL            ICRA BB      23      Withdrawn
Bettiah Municipal Council               Issuer Rating         ICRA B+      Nil     Assigned
Bg Fastening And Engineering            LT fund based- CC     ICRA BB      7.5     Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            LT unallocated        ICRA BB      6.8     Assigned
Industries Pvt Ltd
Bg Fastening And Engineering            LT fund based- TL     ICRA BB      4.9     Assigned
Industries Pvt Ltd
Cdet Explosive Industries Pvt           LT, FB – CC           ICRA BBB+    6.5     Reaffirmed
Ltd
Cdet Explosive Industries Pvt           LT, Unallocated       ICRA BBB+    30      Reaffirmed
Ltd
Crevita Granito Pvt Ltd                 FB – TL               ICRA BB-     25.5    Assigned
Crevita Granito Pvt Ltd                 FB – CC               ICRA BB-     10      Assigned
Dhanuka Laboratories Ltd                FB – Working Capital  ICRA BBB+ /  24      Reaffirmed
                                        Fac                   ICRA A2
outlook revised from to negative
Dhanuka Laboratories Ltd                FB and Non-fund Based ICRA BBB+ /  20      Reaffirmed
                                        – Working Capital Fac ICRA A2
outlook revised from to negative
Focal Energy Solar India Pvt            FB - TL               ICRA BBB     26      Upgraded
Ltd                                                                                from BBB-
Focal Energy Solar India Pvt            Unallocated Limits    ICRA BBB     2       Upgraded
Ltd                                                                                from BBB-
Focal Energy Solar One India            Fund based-TL         ICRA BBB+    106     Upgraded
Pvt Ltd                                                                            from ICRA BBB
Focal Energy Solar One India            Fund based- CC        ICRA BBB+    3.5     Upgraded
Pvt Ltd                                                                            from ICRA BBB
Focal Energy Solar One India            Unallocated limits    ICRA BBB+    0.5     Upgraded
Pvt Ltd                                                                            from ICRA BBB
Global Copper Pvt Ltd                   Fund based- CC        ICRA B       10      Withdrawn
Global Copper Pvt Ltd                   Fund based- TL        ICRA B       8.75    Withdrawn
Golani Brothers                         Fund based – CC       ICRA BB      5       Withdrawn
Hpm Infra Llp                           Proposed Non          ICRA BB-     15      Withdrawn
                                        Convertible
Hpm Infra Llp                           Unallocated limits    ICRA BB- /   80      Assigned
                                                              ICRA A4
Iifl Facilities Services Ltd            Unsecured debt        ICRA AA      50      outstanding
(Erstwhile Iifl Real Estate             programme
Ltd )
Iifl Facilities Services Ltd            LT debt programme     ICRA AA      700     outstanding
(Erstwhile Iifl Real Estate
Ltd )
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      300     outstanding
(Erstwhile Chephis Capital
Markets Ltd)
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      500     outstanding
(Erstwhile Chephis Capital              programme
Markets Ltd)
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  200     outstanding
(Erstwhile Chephis Capital              protected market      AA
Markets Ltd)
Iifl Wealth Finance Ltd                 LT principal          PP-MLD ICRA  2550    outstanding
(Erstwhile Chephis Capital              protected market      AA
Markets Ltd)
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      100     outstanding
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      1000    outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      5775    outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      2510    outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      2000    outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      500     outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  500     outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  100     outstanding
                                        protected market      AA
                                        linked debenture programme
Janalakshmi Financial Services          PTC Series A2         ICRA D(SO)   4.1     Downgraded
Ltd                                                                                from ICRA
                                                                                   C-(SO) to
Janalakshmi Financial Services          PTC Series A1         ICRA D(SO)   76.17   Downgraded
Ltd                                                                                from ICRA
                                                                                   C+(SO) to
Kanan Devan Hills Plantations           Fund based- CC        ICRA A-      62      Assigned
Company Pvt Ltd
Kanan Devan Hills Plantations           Fund based – TL       ICRA A-      15      Assigned
Company Pvt Ltd
Kanan Devan Hills Plantations           Fund based –          ICRA A-      50      Assigned
Company Pvt Ltd                         Unallocated limits
Muthoot Capital Services Ltd            PTC Series A1         ICRA A(SO)   64.48   Upgraded
                                                                                   from ICRA
                                                                                   A-(SO)
Muthoot Capital Services Ltd            PTC Series A1         ICRA A+(SO)  79.66   Upgraded
                                                                                   from ICRA
                                                                                   A-(SO)
Muthoot Capital Services Ltd            PTC Series A1         ICRA AA-(SO) 81.4    Upgraded
                                                                                   from ICRA
                                                                                   A-(SO)
Muthoot Capital Services Ltd            PTC Series A2         ICRA BBB(SO) 1.77    Upgraded
                                                                                   from ICRA
                                                                                   BB+(SO)
Muthoot Capital Services Ltd            PTC Series A2         ICRA         1.39    Reaffirmed
                                                              BBB-(SO)
Muthoot Capital Services Ltd            PTC Series A2         ICRA         1.81    Upgraded
                                                              BBB+(SO)             from ICRA
                                                                                   BB+(SO)
Namasthetu Infratech Pvt Ltd            Fund based-CC         ICRA B       3       -
ISSUER NOT COOPERATING
Namasthetu Infratech Pvt Ltd            Fund based-           ICRA B       1       -
                                        Unallocated Limit
ISSUER NOT COOPERATING
North Delhi Municipal                   Issuer Rating         ICRA BB+     Nil     Assigned
Corporation
Religare Finvest Ltd                    LT Debt programme     ICRA BBB     1000    Revised from
                                                                                   ICRA A
rating continues to be under rating watch with developing implications
Religare Finvest Ltd                    Bk Limits             ICRA BBB     12000   Revised from
                                                                                   ICRA A
rating put on watch with developing implications
Religare Housing Development            Long- Term/ ST Bk     ICRA BBB/    1200    Revised from
Finance Corporation                     Limits                ICRA A3             ICRA A/
                                                                                   ICRA A1
rating continues to be under rating watch with developing implications
Religare Housing Development            Sub. Debt Programme   ICRA BBB     0       Revised from
Finance Corporation                                                                ICRA A
rating put on watch with developing implications
Rural Fairprice Wholesale Ltd           LT – Proposed NCD     Provisional  320     Assigned
                                        Programme             ICRA BBB-
                                                              (SO)
S.V. Patel Amp; Sons                    Fund based-TL         ICRA B+      0.73    -
ISSUER NOT COOPERATING
S.V. Patel Amp; Sons                    Fund based-CC         ICRA B+      6.5     -
ISSUER NOT COOPERATING
Siddhi Cotton Ginning Amp;              Fund based- CC        ICRA B+      8       Reaffirmed
Pressing Pvt Ltd
Siddhi Cotton Industries                Fund based- CC        ICRA B+      12      Reaffirmed
Sparkle Terminal And Towage             NCD                   Provisional  100     -
Services Ltd                                                  ICRA
                                                              AA-(SO) Stable
State Bank Of India                     Basel III Compliant   ICRA         8000    Assigned
                                        Tier I Bonds          AA+(hyb)
State Bank Of India                     Lower Tier II Bonds   ICRA AAA     785     outstanding
                                        Programme
State Bank Of India                     Basel III Compliant   ICRA         15743   outstanding
                                        Tier II Bonds         AAA(hyb)(
                                                              Stable)
Subhamasthu Shopping Mall               LT - Fund Based-CC    ICRA B+      6.5     Withdrawn
Sugam Parivahan Pvt Ltd                 Fund Based  TL        ICRA BBB     1.13    Reaffirmed
outlook revised to Positive from Stable
Sugam Parivahan Pvt Ltd                 Fund Based  CC        ICRA BBB     23.75   Reaffirmed
outlook revised to Positive from Stable
Sugam Parivahan Pvt Ltd                 Unallocated TL FB     ICRA BBB     3.87    Reaffirmed
                                        limits Non-FBL
outlook revised to Positive from Stable - - -
Synmedic Laboratories                   TL                    ICRA BBB-    28      Reaffirmed
outlook revised from to negative
Synmedic Laboratories                   FB – Working Capital  ICRA BBB-    8       Reaffirmed
                                        Fac
outlook revised from to negative
Thirumeni Finance Pvt Ltd               PTC Series A1         ICRA A(SO)   24.77   Upgraded to
                                                                                   from ICRA A-
                                                                                   SO)
Thirumeni Finance Pvt Ltd               PTC Series A2         ICRA BBB(SO) 2.09    Upgraded to
                                                                                   from ICRA BB
                                                                                   (SO)
Voltas Ltd                              FB / Non-fund based   ICRA AA/     3500    Reaffirmed
                                        Bk Fac                ICRA A1+
outlook revised to Positive from Stable
Water And Sanitation Pooled             LT Bond Programme     ICRA AA(SO)  80      Reaffirmed
Fund (Government Of Tamilnadu)
Ds-Max Properties Pvt Ltd               LT-TL                 ICRA BBB     450     Reaffirmed
Ds-Max Properties Pvt Ltd               LT-Fund               ICRA BBB     270     Reaffirmed
                                        Based-Overdraft
Everest Gold Mart Pvt Ltd               BLR                   ICRA BB      200
Review process is underway
Farmico Commodities Ltd                 Fund based - CC       ICRA B+      60      Reaffirmed
(Erstwhile Wadhwani
Commodities Trading Pvt. Ltd.)
Farmico Commodities Ltd                 Non-fund based – BG*  ICRA B+              Reaffirmed
(Erstwhile Wadhwani
Commodities Trading Pvt. Ltd.)
*sublimit of cash credit
Khedut Decor Pvt Ltd                    CC                    ICRA BB-     100
Review process is underway
L&T Transportation                      BLR                   ICRA AA      776
Infrastructure Ltd
Review process is underway
Mirae Asset Global Investment           Mirae Asset Savings   ICRA AAAmfs
Management (India) Pvt Ltd              Fund
Review process is underway
Multistone Granito (P) Ltd              BLR                   ICRA B/ A4+  488.2
Review process is underway
Patel Inn & Travels Pvt Ltd             Fund based- CC        ICRA BB      100     Withdrawn
Issuer not cooperating
Patel Inn & Travels Pvt Ltd             Fund based- TL        ICRA BB      174.8   Withdrawn
Issuer not cooperating
Roots Corporation Ltd                   TL                    ICRA A       1500
Issuer not cooperating
Shraman Strips Pvt Ltd                  LT Fund Based         ICRA B       119
Review process is underway
Shraman Strips Pvt Ltd                  LT Unallocated        ICRA B       41
Review process is underway
Team Krian                              Fund based - Working  ICRA BB+     150     Reaffirmed
                                        Capital Fac
The Dharamsi Morarji Chemical           Unallocated Limit     ICRA BBB-    550     Assigned/
Co. Ltd                                                       /A3                  outstanding
enhanced from Rs. 50.00 CR
Veer Plastics Pvt Ltd                   FB TL                 ICRA BBB+    522.5   Assigned/
                                                                                   outstanding
Veer Plastics Pvt Ltd                   FB Working Capital FacICRA BBB+    640     Outstanding
Zeco Aircon Ltd                         Fund based-TL         ICRA BBB     150
Issuer not cooperating
Zeco Aircon Ltd                         Fund based-CC         ICRA BBB     450
Issuer not cooperating
--------------------------------------------------------------------------------------------
$: 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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