January 3, 2018 / 10:32 AM / 10 months ago

RPT-ICRA ratings for Indian debt instruments-Jan 3

 (Repeating to add more ratings)
    Jan 3 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 2, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Asbesco (India) Pvt Ltd                 Non FB limits         ICRA A3      797.5   Assigned
Bhuruka Gases Ltd                       Unallocated Limits    ICRA A3      -       -
Bhuruka Gases Ltd                       Non-fund              ICRA A3+     25      Upgraded
                                        based-Working Capital                      from ICRA A3
Bikanervala Foods Pvt Ltd               Non-fund Based -      ICRA A1+     257.3   Upgraded
                                        Working Capital Fac                        from ICRA A1
Caspian Impact Investments Pvt          ST Fund based-        ICRA A2      200     outstanding
Ltd                                     Working Capital Fac
Daawat Foods Ltd                        NFBL-LC/Bg            ICRA A2+     70      Upgraded
                                                                                   from ICRA A3+
Daawat Foods Ltd                        Unallocated           ICRA A2+     30      Upgraded
                                                                                   from ICRA A3+
Geetanjali University                   Non-fund based – BG   ICRA A3      50      Assigned
Idl Explosives Ltd                      Non-Fund based- LC/BG ICRA A3+     340     Reaffirmed
Jai And Sons Pvt Ltd                    ST, FB Bk Fac         ICRA A4+     87      Assigned
Jai And Sons Pvt Ltd                    ST, non-fund based-   ICRA A4+     10      outstanding
                                        Bk Fac
Lt Foods Ltd                            NFBL                  ICRA A2+     720     Upgraded
                                                                                   from ICRA A3+
Magna Projects Pvt Ltd                  Non-fund based-       ICRA A3      -       Reaffirmed
                                        Working Capital
Matrix Clothing Pvt Ltd                 ST FB Limits          ICRA A3      805     Revised from
                                                                                   ICRA A3+
Narayana Hrudayalaya Ltd                CP Programme          ICRA A1+     50      outstanding
Nature Bio-Foods Ltd                    NFBL-LC/BG            ICRA A2+     20      Upgraded
                                                                                   from ICRA A3+
Nature Bio-Foods Ltd                    Unallocated           ICRA A2+     10      Upgraded
                                                                                   from ICRA A3+
Pm Cars Pvt. Ltd.                       Non Fund based - BG - ICRA A4      2       Assigned
Raghunath Agro Industries Pvt           NFBL-LC/BG            ICRA A2+     20      Upgraded
Ltd                                                                                from ICRA A3+
Restoration Engineers                   BG                    ICRA A4      67.5    -
Reason for delay in carrying out periodic review - Issuer not cooperating
Sarvag Shipping Services Pvt            LOC                   ICRA A4 -    950
Ltd
Reason for delay in carrying out periodic review - Issuer not cooperating
Siddhartha Bronze Product Pvt           Non-FBL Trust Name    ICRA A4      50      Reaffirmed
Ltd
Strides Shasun Ltd                      ST FB Fac             ICRA A1+ &   8900    Outstanding
Strides Shasun Ltd                      ST non-FB Fac         ICRA A1+ &   5200    Outstanding
Strides Shasun Ltd                      Unallocated Fac       ICRA A1+ &   6244.1  Outstanding
Tangerine Design Pvt Ltd                ST FB Limits          ICRA A3      585     Revised from
                                                                                   ICRA A3+

LONG TERM RATINGS:
-------------------
Asbesco (India) Pvt Ltd                 FB limits             ICRA BBB-    455     Assigned
Asbesco (India) Pvt Ltd                 Unallocated limits    ICRA BBB- /  17.5    Assigned
                                                              ICRA A3
Bhuruka Gases Ltd                       LOC                   ICRA BBB     1010    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Bhuruka Gases Ltd                       Fund based- Working   ICRA BBB     35      Upgraded
                                        Capital Fac                                from ICRA
                                                                                   BBB-
Bikanervala Foods Pvt Ltd               Fund based - TL       ICRA A+      248.7   Reaffirmed
Bikanervala Foods Pvt Ltd               Fund based - Working  ICRA A+      175     Reaffirmed
                                        Capital Fac
Bikanervala Foods Pvt Ltd               Unallocated Limits    ICRA A+/A1+  239     Reaffirmed /
                                                                                   Upgraded
                                                                                   from ICRA A1
Blyth Wind Park Pvt Ltd                 TL                    ICRA D       1350    Revised from
                                                                                   ICRA BBB-
Caspian Impact Investments Pvt          Fund based – TL       ICRA BBB     550     Assigned
Ltd
Caspian Impact Investments Pvt          NCD Programme         ICRA BBB     800     outstanding
Ltd
Chokshi Texlen Pvt Ltd                  CC                    ICRA B+      70      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Chokshi Texlen Pvt Ltd                  TL                    ICRA B+      11.7    -
Reason for delay in carrying out periodic review - Issuer not cooperating
Cholamandalam Investment And            Second Loss Facility  Provisional  135.6   Assigned
Finance Co. Ltd                                               ICRA A
Cholamandalam Investment And            PTC Series A          Provisional  4171.4  Assigned
Finance Co. Ltd                                               ICRA AAA
Daawat Foods Ltd                        Working Capital LimitsICRA A-      3539    Upgraded
                                                                                   from ICRA BBB
Daawat Foods Ltd                        TL                    ICRA A-      315     Upgraded
                                                                                   from ICRA BBB
Daawat Foods Ltd                        Unallocated           ICRA A-      1250    Upgraded
                                                                                   from ICRA BBB
Delite Cables Pvt Ltd                   CC                    ICRA D       40      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Delite Cables Pvt Ltd                   BG                    ICRA D       45      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Delite Cables Pvt Ltd                   LT/ ST unallocated    ICRA D/ D    35      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Gayatri Hi Tech Hotels Ltd              Fund based/ CC        ICRA D       1800    Reaffirmed
Gayatri Hi Tech Hotels Ltd              Fund based TL         ICRA D       4911    Reaffirmed
Gayatri Hi Tech Hotels Ltd              Non fund based        ICRA D       268     Reaffirmed
Gayatri Hi Tech Hotels Ltd              Unallocated           ICRA D       11      Reaffirmed
Geetanjali University                   FB – TL               ICRA BBB-    50      Assigned
Idl Explosives Ltd                      Fund based- Working   ICRA BBB     100     Reaffirmed
                                        Capital Fac
Idl Explosives Ltd                      Fund based/Non-fund   ICRA BBB     300     Reaffirmed
                                        based- Working
                                        Capital Fac
Idl Explosives Ltd                      Non-fund based-       ICRA BBB-/   700     Reaffirmed
                                        Working Capital Fac   ICRA A3
Outlook on long-term rating revised from Stable to Positive
Idl Explosives Ltd                      Unallocated           ICRA BBB-/   80      Reaffirmed
                                                              ICRA A3
Outlook on long-term rating revised from Stable to Positive
Jai And Sons Pvt Ltd                    LT, fund based- Bk FacICRA BB+     40      outstanding
Jai And Sons Pvt Ltd                    LT/ ST -Unallocated   ICRA BB+     23.4    Assigned
                                        Fac                   /A4+                 /Outstanding
Kirtilal M. Shah                        Unallocated Limit     -            -       -
                                        1.28
Kirtilal M. Shah                        FB – Post-shipment    ICRA         475.4   Reaffirmed
                                        credit                B+/ICRA A4
Kirtilal M. Shah                        FB – Pre-shipment     ICRA         233     Reaffirmed
                                        credit                B+/ICRA A4
Late Shri Vishnu Waman Thakur           Bk Fac                ICRA BBB-    104.1   -
Charitable Trust
Reason for delay in carrying out periodic review - Issuer not cooperating
Lt Foods Ltd                            Working Capital LimitsICRA A-      9026.2  Upgraded
                                                                                   from ICRA BBB
Lt Foods Ltd                            TL                    ICRA A-      925     Upgraded
                                                                                   from ICRA BBB
Lt Foods Ltd                            Unallocated           ICRA A-      1700    Upgraded
                                                                                   from ICRA BBB
Magma Fincorp Ltd                       PTC Series A1         Provisional  380.2   Assigned
                                                              ICRA AA
Magma Fincorp Ltd                       PTC Series A2         Provisional  20      Assigned
                                                              ICRA AA
Magma Fincorp Ltd                       Liquidity Facility    Provisional  7       Assigned
                                                              ICRA AAA
Magma Fincorp Ltd                       Second Loss Facility  Provisional  23      Assigned
                                                              ICRA BBB-
Magna Projects Pvt Ltd                  Fund based- Working   ICRA BBB-    200     Reaffirmed
                                        Capital Fac
Magna Projects Pvt Ltd                  Proposed Fund based-  ICRA BBB-    150     Reaffirmed
                                        Working - Capital Fac
Matrix Clothing Pvt Ltd                 ST Non-FBL            -            -       -
Matrix Clothing Pvt Ltd                 TL                    ICRA BBB-    49.9    Revised from
                                                                                   ICRA BBB
Matrix Clothing Pvt Ltd                 Unallocated Limits    ICRA BBB-    117.7   Revised from
                                                                                   ICRA BBB
Narayana Hrudayalaya Ltd                FB –CC                ICRA AA- /   40      Assigned /
                                                              ICRA A1+             Outstanding
Narayana Hrudayalaya Ltd                FB – Working Capital  ICRA AA-     400     Assigned /
                                                              /ICRA A1+            Outstanding
Narayana Hrudayalaya Ltd                Non-fund based –      ICRA AA-     -       Assigned /
                                        Working capital       /ICRA A1+            Outstanding
                                        (Interchangeable with FB – Working Capital)
Narayana Hrudayalaya Ltd                FB –TL                ICRA AA-     2680    Assigned /
                                                              /ICRA A1+            Outstanding
Narayana Hrudayalaya Ltd                Non-fund based        ICRA AA-     370     Assigned /
                                        –Working capital      /ICRA A1+            Outstanding
                                        limits
Narayana Hrudayalaya Ltd                LT –Unallocated limitsICRA AA-     10      Assigned /
                                                              /ICRA A1+            Outstanding
Nature Bio-Foods Ltd                    Working Capital LimitsICRA A-      1120    Upgraded
                                                                                   from ICRA BBB
Nature Bio-Foods Ltd                    Unallocated           ICRA A-      350     Upgraded
                                                                                   from ICRA BBB
Pm Cars Pvt. Ltd.                       TL                    ICRA B+      20.3    Reaffirmed
Pm Cars Pvt. Ltd.                       Fund based            ICRA B+      125     Reaffirmed
Pm Cars Pvt. Ltd.                       Unallocated Limits    ICRA B+      12.7    Reaffirmed
                                                              /ICRA A4             /Assigned
Raghunath Agro Industries Pvt           Working Capital LimitsICRA A-      950     Upgraded
Ltd                                                                                from ICRA BBB
Raghunath Agro Industries Pvt           TL                    ICRA A-      30      Upgraded
Ltd                                                                                from ICRA BBB
Ramakrishna Housing (P) Ltd             BLR                   ICRA BB+     2000    -
Reason for delay in carrying out periodic review - Issuer not cooperating
Restoration Engineers                   CC                    ICRA BB      50      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Restoration Engineers                   Unallocated limits    ICRA BB/A4   32      -
Reason for delay in carrying out periodic review - Issuer not cooperating
Sarvag Shipping Services Pvt            LT/ ST unallocated    -            -       -
Ltd
Sarvag Shipping Services Pvt            CC                    ICRA BB      150
Ltd
Reason for delay in carrying out periodic review - Issuer not cooperating
Satin Creditcare Network Ltd            PTC Series A2         Provisional  20.7    Assigned
                                                              ICRA BBB+
Satin Creditcare Network Ltd            PTC Series A1         Provisional  286     Assigned
                                                              ICRA A+
Shanti Integrated Textile Park          Bk Fac                ICRA BB- /   670     -
Pvt Ltd                                                       A4
Reason for delay in carrying out periodic review - Review process is underway
Shree Siddheshwari Oil                  CC                    ICRA B+      160     -
Industries
Reason for delay in carrying out periodic review - Review process is underway
Shree Siddheshwari Oil                  TL                    ICRA B+      37.5    -
Industries
Reason for delay in carrying out periodic review - Review process is underway
Siddhartha Bronze Product Pvt           FB Limits             ICRA B+      75      Reaffirmed
Ltd
Simran Fisheries Pvt Ltd                Non FB Limits         ICRA         100     Assigned
                                                              BB-/ICRA A4
Spandana Sphoorty Financial Ltd         PTC Series A1         Provisional  1977.3  Assigned
                                                              ICRA A
Spandana Sphoorty Financial Ltd         PTC Series A1         Provisional  248.3   Assigned
                                                              ICRA A+
Spandana Sphoorty Financial Ltd         PTC Series A2         Provisional  21.9    Assigned
                                                              ICRA BBB
Spandana Sphoorty Financial Ltd         PTC Series A2         Provisional  115     Assigned
                                                              ICRA BBB
Strides Shasun Ltd                      TL                    ICRA A+ &    10946   Assigned to
                                                                                   enhanced
                                                                                   limits
& indicates ratings on watch with developing
Sunny View Estates Pvt Ltd              NCD Programme         ICRA AA      1500    Reaffirmed
Universal Mine Developers Amp;          Bk Lines              ICRA A       1620    -
Service Providers Pvt Ltd
Reason for delay in carrying out periodic review - Review process is underway
Water And Sanitation Pooled             Bond Programme        ICRA AA      800     Outstanding
Fund
Water And Sanitation Pooled             Non-Convertible Bond  ICRA AAA     12.8    Withdrawn
Fund                                    Programme

--------------------------------------------------------------------------------------------
$: 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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