January 22, 2018 / 10:53 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Jan 22

 (Repeating to add additional ratings)
    Jan 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 19, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                CP programme - (for   ICRA A1+     50000   Assigned
                                        IPO financing)
Aditya Birla Finance Ltd                CP programme          ICRA A1+     100000  Outstanding
Barbeque Nation Hospitality Ltd         CP                    ICRA A1+     300     Reaffirmed
Dalmia Cement East Ltd                  CP                    ICRA A1+     500     Withdrawn
Design Creation                         Interchangeable Limit ICRA A4
Rating moved to the ‘Issuer Not Cooperating’ category
Jayshree Tea & Industries Ltd           Non-FBL               ICRA A2      651.8
Downgraded from ICRA A2+
Madras Medical Mission                  ST: FB                ICRA A4      433     Reaffirmed
Madras Medical Mission                  ST: Non-FB            ICRA A4      129.6   Reaffirmed
Mangalore Cashew Industries             ST - Fund based –     ICRA A4      90      outstanding
                                        Packing Credit
Metro Ortem Ltd                         FB Limits             ICRA A2      2.3     outstanding
Metro Ortem Ltd                         Non-FBL               ICRA A2      93.8    outstanding
Metro Tyres Ltd                         Non-FBL               ICRA A2+     500     outstanding
Mpg Hotels & Infrastructure             Fund based- Working   ICRA A4+     160     Reaffirmed
Ventures Pvt Ltd                        Capital Fac
Mpg Hotels & Infrastructure             Non-fund based        ICRA A4+     25      Reaffirmed
Ventures Pvt Ltd
Mpg Hotels & Infrastructure             Non-fund based        ICRA A4+             Reaffirmed
Ventures Pvt Ltd                        (sub-limit)
National Bank For Agricultural          CP                    ICRA A1+     400000  Assigned/
And Rural Development (Nabard)                                                     Outstanding
Ocl India Ltd                           CP                    ICRA A1+     3000    Withdrawn
Peyush Traders                          Non FB limit LT / ST  ICRA A4+     60      Reaffirmed
                                        - Unallocated
(Enhanced from 4.00 cr)
Rakhecha Securities Ltd                 ST non-fund based Bk  ICRA A4      200     Reaffirmed
                                        Fac
Sharekhan Bnp Paribas                   CP programme (for     ICRA A1+     20000   Assigned
Financial Services Pvt Ltd              IPO financing)
Sharekhan Bnp Paribas                   CP programme (for     ICRA A1+     10000   Withdrawn
Financial Services Pvt Ltd              IPO financing)
Sharekhan Bnp Paribas                   CP programme          ICRA A1+     10000   Outstanding
Financial Services Pvt Ltd
Space Textiles Pvt Ltd                  ST – FB Fac           ICRA A3+     50      Reaffirmed
Space Textiles Pvt Ltd                  ST - Non-FB Fac       ICRA A3+     47.5    Reaffirmed
Sri Sharadha Timbers                    Non-FBL               ICRA A4      167.5
Assigned/ outstanding
Tata Motors Ltd                         CP Programme          ICRA A1+     45000   Reaffirmed
Tata Motors Ltd                         ST Debt Programme     ICRA A1+     5000    Reaffirmed
Zenica Performance Cars Pvt Ltd         ST -Non-Fund Based    ICRA A3      100     Reaffirmed
B. Sorabji                              BLR                   ICRA A4      140     -
Reason for delay in carrying out periodic review: - Issuer delayed in giving information
Oswal Woollen Mills Ltd                 CP                    ICRA A1+     2000    Assigned /
                                                                                   Outstanding
Oswal Woollen Mills Ltd                 LOC                   ICRA A1+     1590    Outstanding
Oswal Woollen Mills Ltd                 Packing Credit        ICRA A1+     250     Outstanding
Shriram Transport Finance Co.           PTC Series A1         Provisional  570.5   Withdrawn
Ltd                                                           ICRA A1+
Shriram Transport Finance Co.           PTC Series A2         Provisional  614.9   Withdrawn
Ltd                                                           ICRA A1+
 

LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd                Perpetual debt        ICRA AA(hyb) 7000    Outstanding
                                        programme
Aditya Birla Finance Ltd                NCD programme         ICRA AA+     160000  Outstanding
Aditya Birla Finance Ltd                Unsecured NCD         ICRA AA+     15000   Outstanding
Aditya Birla Finance Ltd                Subordinated debt     ICRA AA+     25000   Outstanding
                                        programme
Aditya Birla Finance Ltd                Bk lines              ICRA AA+/    182350  Outstanding
                                                              ICRA A1+
Aye Finance Pvt Ltd- Vivriti            PTC Series A1-(a)     Provisional  150     Assigned
Pereira 001 2018                                              ICRA A-(SO)
Aye Finance Pvt Ltd- Vivriti            PTC Series A1-(b)     Provisional  85      Assigned
Pereira 001 2018                                              ICRA A-(SO)
Aye Finance Pvt Ltd- Vivriti            PTC Series A2         Provisional  16.6    Assigned
Pereira 001 2018                                              ICRA
                                                              BBB-(SO)
Barbeque Nation Hospitality Ltd         TL LT - Unallocated   ICRA A+      949.2   Reaffirmed
(revised from Rs.92.50 crore)
Bhagyanagar Chlorides Pvt Ltd           CC                    ICRA BB-     70      Assigned
Bhagyanagar Chlorides Pvt Ltd           Unallocated Limits TL ICRA BB-     40      Assigned
                                        CC Fac
Blyth Wind                              TL                    ICRA BB-     1350
revised from ICRA D
Camden Industries Ltd                   NCD Programme 1       ICRA AAA     1000    Withdrawn
                                                              (SO)
Camden Industries Ltd                   NCD Programme 2       ICRA AAA     3400    Withdrawn
                                                              (SO)
D K Continental                         Proposed Unallocated  ICRA BB+     250     Withdrawn
                                        Limits                /ICRA A4+
Dalmia Cement East Ltd                  Unallocated           ICRA A+      65.2    Outstanding
Dalmia Cement East Ltd                  TL                    ICRA A+      2334.8  Outstanding
Dalmia Cement East Ltd                  FB/ Non-FBL           ICRA A+ /    1650    Outstanding
                                                              ICRA A1+
Design Creation                         FB- CC                ICRA BB-     300
Rating moved to the ‘Issuer Not Cooperating’ category
Destination Industrial Parks            TL                    ICRA BBB     125     Assigned
Pvt Ltd
India Infrastructure Finance            LT Tax free / TBs     ICRA AAA     180000  Reaffirmed
Co. Ltd                                 programme
India Infrastructure Finance            GoI Guaranteed Bonds/ ICRA         16000   Reaffirmed
Co. Ltd                                 Debt programme        AAA(SO)
Jayshree Tea & Industries Ltd           TL                    ICRA BBB+    1405.1
Downgraded from ICRA A-
Jayshree Tea & Industries Ltd           FB limits             ICRA BBB+    2000
                                                              / ICRA A2
Downgraded from ICRA A /ICRA A2+
Jd Overseas                             Proposed Unallocated  ICRA BB+     250     Withdrawn
                                        Limits                /ICRA A4+
Karelides Traders Pvt Ltd               NCD Programme         ICRA AA-     5000    Outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD Programme         ICRA AA-     2050    Outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD Programme         ICRA AA-     1930    Outstanding
                                                              (SO)
Karelides Traders Pvt Ltd               NCD Programme         Provisional  4800    Assigned
                                                              ICRA AA-
                                                              (SO)
Madras Medical Mission                  LT: FB                ICRA B+      349.4   Reaffirmed
Majhaulia Sugar Industries Pvt          FBL                   ICRA BBB+    900
Ltd
Rating downgraded from ICRA A-
Mangalore Cashew Industries             LT - Fund based - CC  ICRA BB      230.7
Assigned/ outstanding
Mangalore Cashew Industries             LT - Fund based - TL  ICRA BB      29.3
Assigned/ outstanding
Merlin Real Estate Llp                  Merlin Waterfront     ICRA                 Reaffirmed
                                        project               Kolkata
                                                              Six-Star
Metro Ortem Ltd                         CC                    ICRA BBB+    54      outstanding
Metro Ortem Ltd                         Unallocated           ICRA BBB+    99.9    outstanding
Metro Tyres Ltd                         CC                    ICRA A-      1000    outstanding
Metro Tyres Ltd                         Unallocated           ICRA A-      212.5   outstanding
Metro Tyres Ltd                         TL                    ICRA A-      37.5    outstanding
Mpg Hotels & Infrastructure             Fund based-TL         ICRA BB      3174    Reaffirmed
Ventures Pvt Ltd
Mpg Hotels & Infrastructure             Unallocated Fac       ICRA BB /    16      Reaffirmed
Ventures Pvt Ltd                                              ICRA A4+
Muthoot Hotels Pvt Ltd                  Fund based-TL         ICRA BB      1110    Reaffirmed
National Bank For Agricultural          LT bonds programme    ICRA AAA     31460   Outstanding
And Rural Development (Nabard)
Ocl India Ltd                           NCD                   ICRA AA      240     Withdrawn
Ocl India Ltd                           TL                    ICRA AA      4587.9  outstanding
Ocl India Ltd                           NCD                   ICRA AA      6000    outstanding
Ocl India Ltd                           FB Limits             ICRA AA /    4000    outstanding
                                                              ICRA A1+
Ocl India Ltd                           Non-FBL               ICRA AA /    3510    outstanding
                                                              ICRA A1+
Peyush Traders                          FB limit              ICRA BB      50      Reaffirmed
(Enhanced from 4.00 cr)
Rakhecha Securities Ltd                 LT fund based Bk Fac  ICRA BB      10      Reaffirmed
Space Textiles Pvt Ltd                  LT - Term -Loan Fac   ICRA BBB     206.7   Reaffirmed
Space Textiles Pvt Ltd                  LT – FB Fac           ICRA BBB     1350    Reaffirmed
Space Textiles Pvt Ltd                  LT/ST - Proposed Fac  ICRA BBB     62.9    Reaffirmed
Sri Sharadha Timbers                    FB Limits             ICRA B+      20      outstanding
Tata Motors Ltd                         NCD Programme         ICRA AA      22500   Reaffirmed
Tata Motors Ltd                         LT, FB Fac            ICRA AA      90000   Reaffirmed
Tata Motors Ltd                         NCD Programme         ICRA AA      2500    Withdrawn
Tata Motors Ltd                         LT / ST, Non FB Fac   ICRA AA /A1+ 60000   Reaffirmed
Zenica Cars India Pvt Ltd               Unallocated Limits    ICRA BBB     1500    Reaffirmed
Zenica Performance Cars Pvt Ltd         LT- Unallocated LimitsICRA BBB-    400     Reaffirmed
Oswal Woollen Mills Ltd                 CC                    ICRA A+      3500    Outstanding
Oswal Woollen Mills Ltd                 TL                    ICRA A+      1969.3  Outstanding
Oswal Woollen Mills Ltd                 BG                    ICRA A+      50      Outstanding
Oswal Woollen Mills Ltd                 Unallocated           ICRA A+      367.5   Outstanding
Polydrug Laboratories Pvt Ltd           BLR                   ICRA B+ /    555     -
                                                              ICRA A4
Reason for delay in carrying out periodic review. - Issuer not cooperating
Prithvi Developers                      Bk Fac                ICRA D       80      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Shriram Transport Finance Co.           PTC Series A3         Provisional  1272.9  Withdrawn
Ltd                                                           ICRA AAA
Shriram Transport Finance Co.           PTC Series A4         Provisional  1367.8  Withdrawn
Ltd                                                           ICRA AAA
Shriram Transport Finance Co.           PTC Series A5         Provisional  1337.9  Withdrawn
Ltd                                                           ICRA AAA
Shriram Transport Finance Co.           PTC Series A6         Provisional  1085.9  Withdrawn
Ltd                                                           ICRA AAA
Shriram Transport Finance Co.           PTC Series A7         Provisional  2740.5  Withdrawn
Ltd                                                           ICRA AAA
Shriram Transport Finance Co.           Second Loss Facility  Provisional  557.4   Withdrawn
Ltd                                                           
--------------------------------------------------------------------------------------------
$: 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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