January 29, 2018 / 12:14 PM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Jan 29

 (Repeating to add more ratings)
   Jan 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 25, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Allied Energy Systems Pvt Ltd           ST Non-FBL            ICRA A4      95      Reaffirmed
Altech Infrastructure (India)           ST: Non-FBL           ICRA A4      340     -
Pvt. Ltd.
Issuer not cooperating
Amit Polypipes Pvt Ltd                  ST - Non Fund Based   ICRA A4      40      ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Dlf Cyber City Developers Ltd           CP                    ICRA A1+     10000   Assigned
Dolphin Marine Foods and                FB – FDBP / FIDBP**   ICRA A4      90      Reaffirmed
Processors (India) Pvt Ltd                                                         and removed
                                                                                   from non 
                                                                                   cooperation
                                                                                   category
**Sublimit of FDBP/FUDBP
Dolphin Marine Foods and                FB – Packing Credit   ICRA A4              Reaffirmed
Processors (India) Pvt Ltd                                                         and removed
                                                                                   from non 
                                                                                   cooperation
                                                                                   category
Ever Electronics Pvt Ltd                Non-fund basedBG      ICRA A4      70      Reaffirmed
Removed from ‘Issuer Not Cooperating’ category
Forbes Technosys Ltd                    ST Non-fund           ICRA]A1+     320     outstanding
                                                              (SO)
Galaxy Concab (India) Pvt Ltd           NFBL - ST             ICRA A4      150     ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
General Commodities Pvt Ltd             ST - Unallocated      -            -       -
General Commodities Pvt Ltd             ST - Fund Based       ICRA A4+     300     Reaffirmed
General Commodities Pvt Ltd             ST - Non fund based   ICRA A4+     57      Reaffirmed
Haldia Petrochemicals Ltd               ST Limits- Non-FBL    ICRA A1+     34400   Reaffirmed
Haldia Petrochemicals Ltd               ST – Commercial 100   ICRA A1+     1000    Reaffirmed
                                        Paper programme
Housing Development Finance             CP programme          ICRA A1+     750000  outstanding
Corporation Ltd
Indian Products Pvt Ltd                 ST - Fund based       ICRA A4+     1900    Upgraded
                                                                                   from ICRA A4
Indian Products Pvt Ltd                 ST – Non Fund based   ICRA A4+     320     Rating from
                                                                                   ICRA A4
Khaitan Winding Wire Pvt Ltd            Non FB limits         ICRA A4+     103.8   Assigned
L & T  Finance Ltd (Erstwhile           CP Programme (IPO     ICRA A1+     90000   Assigned
Family Credit Ltd)                      financing)
L & T Finance Ltd (Erstwhile            CP Programme          ICRA A1+     185000  outstanding
Family Credit Ltd)
L & T  Housing Finance Ltd              CP programme (IPO     ICRA A1+     10000   Assigned
                                        financing)
L & T  Housing Finance Ltd              CP programme          ICRA A1+     50000   outstanding
L & T  Infrastructure Finance           CP programme (IPO     ICRA A1+     50000   Assigned
Co. Ltd                                 financing)
L & T  Infrastructure Finance           CP Programme          ICRA A1+     110000  outstanding
Co. Ltd
Madras Fertilizers Ltd                  ST; Non FB Fac        ICRA A4      3300    Reaffirmed
P.D. Industries Pvt Ltd                 Non FB limits         ICRA A4+     150     Reaffirmed
Rashtriya Seva Samithi                  MFI Grading           M3+                  Assigned
Rolex Hosiery Pvt Ltd                   Packing Credit        ICRA A3+     105     Reaffirmed
Rolex Hosiery Pvt Ltd                   Foreign Discounting   ICRA A3+     30      Reaffirmed
                                        Bill Purchase
Rolex Hosiery Pvt Ltd                   Unallocated           ICRA A3+     5       Reaffirmed
Sany Heavy Industry India Pvt           ST – unallocated      ICRA A1      1000    Assigned
Ltd
Sarjan Infracon Pvt Ltd                 Non-fund Based:       ICRA A4+     440     Assigned
                                        BG
Sree Akkamamba Textiles Ltd             Fund based facility   ICRA A3              Reaffirmed
Sree Akkamamba Textiles Ltd             Non-fund based        ICRA A3      30      Reaffirmed
                                        facility
Sun Metallics & Alloys Pvt Ltd          Non-fund based – LOC  ICRA A4      95      Reaffirmed
Sun Metallics & Alloys Pvt Ltd          Non-fund based – BG   ICRA A4      20      Reaffirmed
Tempsens Instruments (India)            Non-fund Based – LOC  ICRA A3+     55      Reaffirmed
Pvt Ltd
Unique Structures And Towers            Non-fund Based -      ICRA A4+     927     Reaffirmed
Ltd                                     Working Capital Fac
Vaishnavi Rice Industries               BG                    ICRA A1      30      Reaffirmed
Veer Oil And General Mills              FBL - LT              ICRA A4      165     ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Weener Empire Plastics Ltd              Non-fund based        ICRA A2+,    5       #


MEDIUM TERM RATINGS:
-------------------
Housing Development Finance             Fixed deposit         MAAA                 outstanding
Corporation Ltd                         programme
L & T  Housing Finance Ltd              Medium-Term Fixed     MAA+         1000    outstanding
                                        Deposits

LONG TERM RATINGS:
-------------------
Aditya Agro Foods                       LT-CC                 ICRA B+      230     -
Issuer not cooperating
Aditya Agro Foods                       LT-Unallocated        ICRA B+      40      -
Issuer not cooperating
Allied Energy Systems Pvt Ltd           LT FB Limits          ICRA B+      80      Reaffirmed
Allied Energy Systems Pvt Ltd           LT Unallocated        ICRA B+      165     Reaffirmed
Altech Infrastructure (India)           LT: Fund based Limits ICRA B+      737     -
Pvt. Ltd.
Issuer not cooperating
Altech Infrastructure (India)           LT:Unallocated LimitsICRA B+      23      -
Pvt. Ltd.
Issuer not cooperating
Amit Polypipes Pvt Ltd                  LT - Fund Based/ CC   ICRA B       60      ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Amit Polypipes Pvt Ltd                  LT - Fund Based TL    ICRA B       1.9     ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Amit Polypipes Pvt Ltd                  LT - Unallocated      ICRA B       4.2     ISSUER NOT
                                                                                   COOPERATING*
*Issuer did not co-operate; based on best available information
Bansal Food (India)                     CC                    ICRA B +     450     -
Issuer not cooperating
Bansal Food (India)                     TL                    ICRA B +     450     -
Issuer not cooperating
Dlf Cyber City Developers Ltd           LT Fund based         ICRA A+      59490   Upgraded
Dolphin Marine Foods Amp;               FB – TL               -                    -
Processors (India) Pvt Ltd
Dolphin Marine Foods Amp;               FB – CC FB            ICRA B-      20      Downgraded
Processors (India) Pvt Ltd                                                         from ICRA B
                                                                                   and removed
                                                                                   from non 
                                                                                   cooperation
                                                                                   category
Dolphin Marine Foods Amp;               Unallocated           ICRA B- /    40      Downgraded
Processors (India) Pvt Ltd                                    ICRA A4              from ICRA B
                                                                                   / ICRA A4 
                                                                                   and removed 
                                                                                   from non 
                                                                                   cooperation
                                                                                   category
Engineering Projects (India)            Non-fund Based -      ICRA AA- /   15000   Reaffirmed
Ltd                                     Working Capital       ICRA A1+
Ess Kay Fincorp Ltd - Rashford          PTC Series A1         Provisional
Ever Electronics Pvt Ltd                Unallocated           ICRA B+      150     Upgraded
                                                                                   from ICRA B/
                                                                                   ICRA A4
Removed from ‘Issuer Not Cooperating’ category
Ever Electronics Pvt Ltd                Fund based-TL         ICRA B+      50      Upgraded
                                                                                   from ICRA B
Removed from ‘Issuer Not Cooperating’ category
Cv Ifmr Capital 2017                                          rating of
                                                              ICRA A(SO) confirmed as final
Forbes Technosys Ltd                    LT FB Limits          [ICRA AA-    480     outstanding
                                                              (SO)
Forbes Technosys Ltd                    LT – TL (S)           ICRA AA-     200     Assigned
                                                              (S)
Forbes Technosys Ltd                    NCD Programme         ICRA AA-     250     outstanding
                                                              (SO)
Forbes Technosys Ltd                    LT – TL               ICRA AA-     390     outstanding
                                                              (SO)
Forbes Technosys Ltd                    NCD Programme         Provisional  350
                                                              rating of
                                                              ICRA AA- (SO) confirmed as final
Galaxy Concab (India) Pvt Ltd           FBL - LT              ICRA B       100     ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Galaxy Concab (India) Pvt Ltd           Unallocated - LT      ICRA B       10      ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Galaxy Concab (India) Pvt Ltd           Fund Based - Long/ST  ICRA B /A4   60      ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Gimpex Pvt Ltd                          FB Limits             ICRA BB+     2550    ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Gimpex Pvt Ltd                          Non FB Limits         ICRA BB+     1900    ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Gimpex Pvt Ltd                          LT (sub-limit) Fac    ICRA BB+             ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Haldia Petrochemicals Ltd               LT Limits- TL         ICRA AA-     41621.5 Upgraded
                                                                                   from ICRA A+
Haldia Petrochemicals Ltd               LT Limits-FB          ICRA AA-     3130    Upgraded
                                                                                   from ICRA A+
Haldia Petrochemicals Ltd               Issuer Rating    -    ICRA AA-     -       Upgraded
                                                                                   from ICRA A+
Haldia Petrochemicals Ltd               LT/ST Unallocated     ICRA AA-     21428.5 Reaffirmed
                                                              /ICRA A1+
Hari Construction And                   FB Limits             ICRA BBB     100
Associates Pvt Ltd
Rating reaffirmed and removed from the ‘Issuer Not Cooperating’ category
Hari Construction And                   Non FB Limits         ICRA BBB /   400
Associates Pvt Ltd                                            ICRA A3+
Rating reaffirmed and removed from the ‘Issuer Not Cooperating’ category
Housing Development Finance             NCDs programme        ICRA AAA     350000  Assigned
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     1578392 outstanding
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 /   350000  outstanding
Corporation Ltd                                               ICRA A1+
Indian Products Pvt Ltd                 LT - Fund Based -     ICRA BB+             Upgraded
                                        sublimit                                   from ICRA BB
Ishaan Metals Pvt Ltd                   LT: FBL               ICRA B+      100     Review
                                                                                   process is
                                                                                   underway
Ishaan Metals Pvt Ltd                   LT: Unallocated LimitsICRA B+      25      Review
                                                                                   process is
                                                                                   underway
J.I Enterprise                          LT: FBL               ICRA B       64.4    Issuer not
                                                                                   cooperating
J.I Enterprise                          LT: Unallocated LimitsICRA B       25.6    Issuer not
                                                                                   cooperating
Khaitan Winding Wire Pvt Ltd            FB limits             ICRA BB+     200     Assigned
Khaitan Winding Wire Pvt Ltd            EPC (Sub-Limit of CC) ICRA BB+             Assigned
Khaitan Winding Wire Pvt Ltd            Unallocated limits    ICRA BB+ /   6.2     Assigned
                                                              ICRA A4+
Khatu Shyam Ji Tollways Pvt Ltd         TL                    ICRA BBB-    105     Reaffirmed
Khatu Shyam Ji Tollways Pvt Ltd         Non-FBL               ICRA BBB-    10      Reaffirmed
L & T Finance Ltd (Erstwhile            Perpetual Debt        ICRA AA      6000    outstanding
Family Credit Ltd)                      Programme
L & T  Finance Ltd (Erstwhile           NCD Programme         ICRA AA+     65190   outstanding
Family Credit Ltd)
L & T  Finance Ltd (Erstwhile           NCD Programme (Public ICRA AA+     6817    outstanding
Family Credit Ltd)                      Issuance)
L & T  Finance Ltd (Erstwhile           Subordinated Debt     ICRA AA+     13250   outstanding
Family Credit Ltd)                      Programme
L & T  Housing Finance Ltd              Perpetual Debt        ICRA AA      1000    outstanding
                                        Programme
L & T  Housing Finance Ltd              NCD Programme         ICRA AA+     52500   outstanding
L & T  Housing Finance Ltd              Subordinated Debt     ICRA AA+     3000    outstanding
                                        Programme
L & T  Housing Finance Ltd              Bk Lines              ICRA AA+     29000   outstanding
                                                              /ICRA A1+
L & T  Infrastructure Finance           Perpetual Debt        ICRA AA      4000    outstanding
Co. Ltd                                 Programme
L & T  Infrastructure Finance           NCD Programme         ICRA AA+     60340   outstanding
Co. Ltd
L & T Infrastructure Finance            NCD (Infra Bonds)     ICRA AA+     16650.3 outstanding
Co. Ltd                                 Programme
L & T  Infrastructure Finance           Subordinated Debt     ICRA AA+     17000   outstanding
Co. Ltd                                 Programme
L & T  Infrastructure Finance           Bk Lines              ICRA AA+     70000   outstanding
Co. Ltd                                                       /ICRA A1+
Mandava Holdings Pvt Ltd                NCD Programme (NCD-1) ICRA AAA     2800    Withdrawn
                                                              (SO)
Mandava Holdings Pvt Ltd                NCD Programme (NCD-2) ICRA AAA     770     outstanding
                                                              (SO)
Madras Fertilizers Ltd                  LT; FB Fac            ICRA C       1914    Reaffirmed
Madras Fertilizers Ltd                  LT; Proposed FB Fac   ICRA C       28.4    Reaffirmed
Mahadev Weaving Industries Llp          FB – CC               ICRA B-      25      Assigned
Mahadev Weaving Industries Llp          FB – TL               ICRA B-      84.6    Assigned
Mahadev Weaving Industries Llp          Unallocated Limits    ICRA B-      10.4    Assigned
Mini Hotels & Projects                  Bk loan Ratings       ICRA B /     65      -
                                                              ICRA A4
Issuer not cooperating
One Capitall Ltd                        TL                    ICRA BB      900     Reaffirmed
Orra Fine Jewellery Pvt Ltd             LT/ ST, FB / Non-FB   ICRA A-(SO)  1050    -
                                        Fac                   /ICRA A2+
                                                              (SO)
P.D. Industries Pvt Ltd                 FB limits             ICRA BB+     130     Reaffirmed
P.D. Industries Pvt Ltd                 Unallocated limits    ICRA BB+     20      Reaffirmed
Png Tollway Ltd                         TL                    ICRA D       11989.1
Issuer not cooperating
Pragati Glass Pvt Ltd                   FB-TL                 ICRA D       40      ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Pragati Glass Pvt Ltd                   FB-CC                 ICRA D       175     ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
Pragati Glass Pvt Ltd                   Non-FBL               ICRA D       40      ISSUER NOT
                                                                                   COOPERATING*;
*Issuer did not co-operate; based on best available information
R.S. Motors Pvt Ltd                     CC                    -            350
Rajendra Singh Bhamboo                  TL                    ICRA BB+     360     Reaffirmed
Tollways Pvt Ltd
Rajendra Singh Bhamboo                  Non-FBL               ICRA BB+     15      Reaffirmed
Tollways Pvt Ltd
Sany Heavy Industry India Pvt           LT – unallocated      ICRA A       1000    Assigned
Ltd
Sarawagi Automobiles Pvt Ltd            FBL - LT              ICRA B       75      -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sarawagi Automobiles Pvt Ltd            Unallocated - LT      ICRA B       8.8     -
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sarjan Infracon Pvt Ltd                 FB: Working Capital   ICRA BB+     40      Assigned
                                        Limits
S. M. Steels                            Bk Loans              ICRA         500     Review
                                                              BB/ICRA A4           process is
                                                                                   underway
Sun Metallics & Alloys Pvt Ltd          Unallocated           ICRA BB      5       Reaffirmed
                                                              / ICRA A4
Sun Metallics & Alloys Pvt Ltd          Fund based –          ICRA         150     Reaffirmed
                                        optionally            BB
                                        convertible debentureBD**
**Overdraft facility against book debts
Weener Empire Plastics Ltd              FB                    ICRA BBB+    647.1   #
Western Refrigeration Pvt Ltd           LT / ST Unallocated   -            -       -
                                        Limits
Western Refrigeration Pvt Ltd           LT / ST, Non- FBL     ICRA A- /    400     Reaffirmed
                                        64                    ICRA A2+
Western Refrigeration Pvt Ltd           LT / ST, FB /         ICRA A- /    590     Reaffirmed
                                        Non-fund Based -      ICRA A2+
                                        Limits LT / ST 1 Unallocated Limits
Western Refrigeration Pvt Ltd           LT / ST, FB Limits    ICRA         200     Reaffirmed
                                                              A-/ICRA A2+
 --------------------------------------------------------------------------------------------
$: 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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