January 3, 2019 / 11:56 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jan 3

 (Repeating to add additional ratings as of January 2, 2019)
   Jan 3 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 2, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Energy Efficiency Services Ltd          Non fund based – ST   ICRA A1+     700     Reaffirmed
Energy Efficiency Services Ltd          Fund based – ST       ICRA A1+     8850    Reaffirmed
Esquire Machines Pvt Ltd                Non-FBL               ICRA A4      20      Reaffirmed
Kajaria Ceramics Ltd                    Non-FBL               ICRA A1+     1755    Reaffirmed
Kajaria Ceramics Ltd                    Unallocated           ICRA A1+     545     Reaffirmed
Kotak Mahindra Asset                    Kotak Yearly Interval ICRA A1+mfs  -       Withdrawn
Management Co. Ltd                      Plan Series 1
Kotak Mahindra Asset                    Kotak Quarterly       ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Interval Plan Series 12
Kotak Mahindra Asset                    Kotak Money Market    ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Scheme
Kotak Mahindra Asset                    Kotak Mahindra Liquid ICRA A1+mfs  -       Outstanding
Management Co. Ltd                      Scheme
Jet Airways (India) Ltd                 ST, Non-FB Fac        ICRA D       39500   Downgraded
                                                                                   from ICRA A4
L&T Finance Ltd (Erstwhile              CP Programme          ICRA A1+     185000  Outstanding
Family Credit Ltd)
Lh Sugar Factories Ltd                  Non-FBL               ICRA A2+     250     Reaffirmed
Lh Sugar Factories Ltd                  ST FB limits          ICRA A2+     -       Reaffirmed
                                        Unallocated limits
Ongc Petro Additions Ltd                CP                    ICRA A1+     5000    Assigned
Ongc Petro Additions Ltd                Non-FBL               ICRA A1+     -       Assigned
Plr Projects Pvt Ltd                    Non-fund Based        ICRA A3+     3800    Reaffirmed
Turbo Energy Pvt Ltd                    ST - non-FB Fac       -            -       -
Shri Lakshmi Steel Suppliers            ST – Interchangeable  ICRA A4+             Assigned
Turbo Energy Pvt Ltd                    ST - FB Fac           ICRA A1+     400     Reaffirmed


LONG TERM RATINGS:
-------------------
Creditaccess Grameen Ltd -              PTC Series A          Provisional  1000.1  Assigned
Northern Arc 2018 Mfi Titli                                   ICRA A(SO)
Devanga Sangha                          LT – TL               ICRA BB-     110     Reaffirmed
Energy Efficiency Services Ltd          TL                    -            -       Reaffirmed
Energy Efficiency Services Ltd          NCD Programme (NCD)   ICRA AA-     15000   revised from
                                                                                   ICRA AA
Energy Efficiency Services Ltd          Unallocated limits    ICRA AA-     450     revised from
                                                                                   ICRA AA/ICRA
                                                                                   A1+;
                                                                                   reaffirmed
Esquire Machines Pvt Ltd                FB Limits             ICRA B+      80      Reaffirmed
Ideal Ice Cream                         Unallocated Limits    ICRA BBB-    -       -
                                        Trust Name
Ideal Ice Cream                         FB – CC               ICRA BBB     50      Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Ideal Ice Cream                         TL                    ICRA BBB     150     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Jet Airways (India) Ltd                 NCD Programme         ICRA D       6989    Downgraded
                                                                                   from ICRA C
Jet Airways (India) Ltd                 Long-TL               ICRA D       49700   Downgraded
                                                                                   from ICRA C
Jet Airways (India) Ltd                 LT, FB Fac            ICRA D       6450    Downgraded
                                                                                   from ICRA C
Jet Airways (India) Ltd                 LT, Non-FB Fac        ICRA D       7000    Downgraded
                                                                                   from ICRA C
Kajaria Ceramics Ltd                    FBL - CC              ICRA AA      700     Reaffirmed
Kotak Mahindra Asset                    Kotak Bond ST Plan    ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Dynamic Bond    ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Savings Fund    ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Corporate Bond  ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Fund
Kotak Mahindra Asset                    Kotak Bond            ICRA AAAmfs  -       Outstanding
Management Co. Ltd
Kotak Mahindra Asset                    Kotak Bking and PSU   ICRA AAAmfs  -       Outstanding
Management Co. Ltd                      Debt Fund
Kotak Mahindra Asset                    Kotak Capital         Provisional  -       Outstanding
Management Co. Ltd                      Protection Oriented   ICRA AAAmfs
                                        Scheme Series 5       (SO)
L&T  Finance Ltd (Erstwhile             Perpetual Debt        ICRA AA+     6000    Outstanding
Family Credit Ltd)                      Programme
L&T  Finance Ltd (Erstwhile             Secured Redeemable    ICRA AAA     50000   Assigned
Family Credit Ltd)                      NCD [public issue] #
#The rated limit is interchangeable with Unsecured subordinated Redeemable Non-convertible
Debenture [public issue] 
L&T  Finance Ltd (Erstwhile             NCD Programme         ICRA AAA     65190   Outstanding
Family Credit Ltd)
L&T  Finance Ltd (Erstwhile             NCD Programme (Public ICRA AAA     6817    Outstanding
Family Credit Ltd)                      Issuance)
L&T  Finance Ltd (Erstwhile             Subordinated Debt     ICRA AAA     13250   Outstanding
Family Credit Ltd)                      Programme
L&T  Finance Ltd (Erstwhile             LT Market Linked      PP-MLDICRA   5000    Outstanding
Family Credit Ltd)                      Debenture Programme   AAA
Lh Sugar Factories Ltd                  FB limits             ICRA A-      1300    Reaffirmed
Lh Sugar Factories Ltd                  TL                    ICRA A-      836.5   Reaffirmed
Ongc Petro Additions Ltd                TL                    ICRA AA      -       Assigned
Ongc Petro Additions Ltd                FBL                   ICRA AA /    15580   Assigned
                                                              ICRA A1+
Ongc Petro Additions Ltd                NCD                   ICRA AAA(S)  3350    Reaffirmed
Ongc Petro Additions Ltd                TL                    ICRA AAA(S)  65000   Assigned
Ongc Petro Additions Ltd                Compulsorily          ICRA         72860   Reaffirmed
                                        Convertible DebenturesAAA(SO)
Ongc Petro Additions Ltd                NCD                   Provisional  26650   Reaffirmed
                                                              ICRA AAA(S)
P.R.Nayak Associates Pvt Ltd            LT - Fund Based/ CC   ICRA BB+     220     Reaffirmed
Plr Projects Pvt Ltd                    Fund Based            ICRA BBB     830     Reaffirmed
Plr Projects Pvt Ltd                    Unallocated           ICRA BBB     770     Reaffirmed
                                                              /ICRA A3+
Quality Heightcon Pvt Ltd               FB –TL                ICRA BB+     9.9     Reaffirmed
Quality Heightcon Pvt Ltd               FB – CC               ICRA BB+     250     Reaffirmed
Quality Heightcon Pvt Ltd               FB – Overdraft        ICRA BB+     50      Reaffirmed
Quality Heightcon Pvt Ltd               Non-fund Based – BG   ICRA BB+/    210     Reaffirmed
                                                              ICRA A4+
Quality Heightcon Pvt Ltd               Unallocated Limit     ICRA BB+/    167.6   Reaffirmed
                                                              ICRA A4+
Shri Lakshmi Steel Suppliers            LT– FB Fac            ICRA BB+     1000    Assigned
Vasani Polymers Pvt Ltd                 FB- TL                ICRA BB-     50.3    Withdrawn
(Issuer Not Cooperating)
Vasani Polymers Pvt Ltd                 FB- CC                ICRA BB-     70      Withdrawn
(Issuer Not Cooperating)
Xrbia Abode Developers Pvt Ltd          FB -CC                ICRA BBB+    600     Withdrawn

Xrbia Ambience Realty Llp               FB -CC                ICRA BBB+    800     Withdrawn

Xrbia Chakan Developers Pvt Ltd         FB -CC                ICRA BBB+    550     Withdrawn

Xrbia North Hinjewadi                   FB -CC                ICRA BBB+    150     Withdrawn
Developers Pvt Ltd
Spandana Sphoorty Financial             PTC Series A1         ICRA A (SO)  500     Assigned
Ltd- Northern Arc 2018 MFI
Sartre
Spandana Sphoorty Financial             PTC Series A2         ICRA BBB+    11      Assigned
Ltd- Northern Arc 2018 MFI                                    (SO)
Sartre
--------------------------------------------------------------------------------------------
$: 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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