January 30, 2018 / 10:40 AM / 21 days ago

RPT-ICRA ratings for Indian debt instruments-Jan 30

 (Repeating to add more ratings.)
    Jan 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 29, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharat Cottage Industries               LOC(LC)               ICRA A4      10
ISSUER NOT COOPERATING
Bharat Cottage Industries               Letter of Guarantee   ICRA A4      2
ISSUER NOT COOPERATING
Bhartiya Rail Bijlee Co. Ltd            Non Fund based- BG    ICRA A1      1500    Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Unallocated Limits    ICRA A1      4514    Reaffirmed
Dnh Projects Ltd                        Non-fund based BG     ICRA A4      60      Reaffirmed
Removed from ‘Issuer not cooperating’ category
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     60000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     36000   outstanding
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     50000   outstanding
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     10000   outstanding
                                        financing)
Ecl Finance Ltd                         ST Principal          PP-MLDICRA   9000    outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme          ICRA A1+     70000   outstanding
Ltd
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     1000    outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     50000   outstanding
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     5000    outstanding
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLDICRA   5000    outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Hariom Pulses                           Demand Loan           ICRA A4      30      Reaffirmed
Jayalaxmi Enterprises                   ST –Fund Based        ICRA A4      62.5
ISSUER NOT COOPERATING
Minera Steel And Power Pvt Ltd          Non-FBL               ICRA A3      340
ISSUER NOT COOPERATING
Mohani Tea Leaves Pvt Ltd               Non-fund Based – BG   ICRA A2+     50      Reaffirmed
Mspl Ltd                                Non FB                ICRA A3+     400     Upgraded
                                                                                   from ICRA A3
Naturefresh Industries Ltd              Non-fund based – BG   ICRA A4+     7.7     Withdrawn
Polyplastics Industries India           Non-FBL               ICRA A2+     100     Assigned
Pvt Ltd                                                                            /Outstanding
Vardhman Polytex Ltd                    ST nonFB              ICRA D       500
ISSUER NOT COOPERATING
Walplast Products Pvt Ltd               Non-fund based- BG    ICRA A3+     20

Adani Gas Ltd                           ST FBL                ICRA A1+ &   550     -
Placed on watch with developing implications
Adani Gas Ltd                           ST NFBL               ICRA A1+ &           -
Placed on watch with developing implications,#-Contains Rs 75 Cr interchangeability with FB
limits
Appl Industries Ltd                     Non-FBL               ICRA A3      190     re-affirmed
Pon Pure Chemical India Pvt Ltd         ST, Unallocated limitsICRA A2      689.7   outstanding
Pon Pure Chemical India Pvt Ltd         ST, Non-FB Fac        ICRA A2      3490    outstanding
Hcl Technologies Ltd                    ST FB Fac             -            0       Reaffirmed
Hcl Technologies Ltd                    ST Non-FB Fac         -            0       Reaffirmed
Hcl Technologies Ltd                    ST Fund Based/Non-FB  -            0       Reaffirmed
                                        Fac
Pooshya Exports Pvt Ltd                 ST: Fundbased Fac     ICRA A4      170     Withdrawn
ISSUER NOT COOPERATING
Pooshya Exports Pvt Ltd                 ST: NonFB Fac         ICRA A4      10      Withdrawn
ISSUER NOT COOPERATING
Tata International Ltd                  CP Programme          ICRA A1      1000    Withdrawn
Tata International Ltd                  ST, Non-FB Fac        ICRA A1      2300    Withdrawn
    
LONG TERM RATINGS:
-------------------
Bharat Cottage Industries               TL                    ICRA B-      7
ISSUER NOT COOPERATING
Bharat Cottage Industries               CC                    ICRA B-      85
ISSUER NOT COOPERATING
Bharat Cottage Industries               Unallocated limits    ICRA         9
                                                              B-/ICRA A4
ISSUER NOT COOPERATING
Bharath Agro Agencies                   Fund based            ICRA B+      50
Issuer Not Cooperating
Bharath Agro Agencies                   Non-Fund based        ICRA B+      17
Issuer Not Cooperating
Bhartiya Rail Bijlee Co. Ltd            Fund based-TL         ICRA A       55986   Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Fund based- CC        ICRA A       6000    Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Unallocated Limits    ICRA A       2000    Reaffirmed
Deepak Foods                            Fund Based – CC       ICRA D       5
Issuer Not Cooperating
Deepak Foods                            Fund Based – TL I     ICRA D       2.4
Issuer Not Cooperating
Deepak Foods                            Fund Based – TL II    ICRA D       35
Issuer Not Cooperating
Deepak Foods                            Fund Based – EPC cum  ICRA D       15
                                        FBP/FBD#
Issuer Not Cooperating/#Export Packing Credit (EPC) cum Foreign Bills Purchase/Discount
(FBP/FBD)
Desai Distributors                      FB – CC               ICRA BB-     175     Reaffirmed
Dnh Projects Ltd                        FB CC                 ICRA C       120     Reaffirmed
removed from ‘Issuer not cooperating’ category
Dnh Projects Ltd                        Unallocated Limit     ICRA C/ICRA  100     Reaffirmed
                                                              A4
removed from ‘Issuer not cooperating’ category
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA      110000  outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   3000    outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLDICRA   23500   outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      47000   outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   outstanding
Ltd
Embassy Office Parks Pvt Ltd            NCD                   ICRA BBB     3000
Review process is underway
Goverdhan Transport Company             TL                    ICRA BB      670
Pvt Ltd
Review process is underway
Hariom Pulses                           CC                    ICRA B       90      Reaffirmed
Hariom Pulses                           TL                    ICRA B       3.2     Reaffirmed
Hpcl Shapoorji Energy Pvt Ltd           Fund based- TL        ICRA BBB+    29970   Assigned
Jayalaxmi Enterprises                   LT –Fund Based (CC)   ICRA B+      12.5
ISSUER NOT COOPERATING
Minera Steel And Power Pvt Ltd          TL                    ICRA BBB-    1383.6
ISSUER NOT COOPERATING
Minera Steel And Power Pvt Ltd          FBL                   ICRA BBB-    850
ISSUER NOT COOPERATING
Minera Steel And Power Pvt Ltd          Unallocated           ICRA BBB-    626.4
                                                              /ICRA A3
ISSUER NOT COOPERATING
Mohani Tea Leaves Pvt Ltd               FB – CC               ICRA A-      350     Reaffirmed
Mspl Ltd                                FB – TL               ICRA BBB     4450    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Mspl Ltd                                FB – CC               ICRA BBB     3150    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Naturefresh Industries Ltd              Fund based- TL        ICRA BB+     50.7    Withdrawn
Naturefresh Industries Ltd              Fund based- Working   ICRA BB+     40      Withdrawn
                                        Capital
Naturefresh Industries Ltd              Unallocated Limits    ICRA         81.6    Withdrawn
                                                              BB+/ICRA A4+
Padigela Ginning Industries             Fund based – CC       ICRA B+      750
ISSUER NOT COOPERATING
Padigela Ginning Industries             Fund based – TL       ICRA B+      10
ISSUER NOT COOPERATING
Padigela Ginning Industries             Unallocated limits    ICRA B+      440
ISSUER NOT COOPERATING
Polyplastics Industries India           Unallocated Limits    -            -       -
Pvt Ltd
Polyplastics Industries India           FB – TL               ICRA A-      850     Assigned
Pvt Ltd                                                                            /Outstanding
Polyplastics Industries India           FB – CC               ICRA A-      800     Assigned
Pvt Ltd                                                                            /Outstanding
Prestige Estates Projects Ltd           Bk Lines              ICRA A+      35000   Reaffirmed
Prestige Estates Projects Ltd           NCD                   ICRA A+      5000    Reaffirmed
Prestige Estates Projects Ltd           NCD                   ICRA A+      5000    Assigned
Sambandh Finserve Pvt Ltd               TL                    ICRA BB-     449.9   Reaffirmed
Sambandh Finserve Pvt Ltd               Unallocated           ICRA BB-     0.1     Reaffirmed
Shri Ganesh Fire Equipments             Fund Based            ICRA D       30
Pvt Ltd
ISSUER NOT COOPERATING
Shri Ganesh Fire Equipments             Non-fund Based        ICRA D       30
Pvt Ltd
ISSUER NOT COOPERATING
Sonata Finance Pvt Ltd                  LT Bk lines           ICRA BBB     5000    Reaffirmed
Sonata Finance Pvt Ltd                  NCD                   ICRA BBB     4210    Reaffirmed
Sonata Finance Pvt Ltd                  Subordinated debt     ICRA BBB     150     Reaffirmed
Sri Murari Pavan Agrotech               BLR                   ICRA B+      90
ISSUER NOT COOPERATING
Union Enterprises ( Sachdev             Fund based-CC         ICRA D       64
Steel Works Pvt Ltd)
ISSUER NOT COOPERATING
Union Enterprises ( Sachdev             Unallocated           ICRA D       69.2
Steel Works Pvt Ltd)
ISSUER NOT COOPERATING
Union Enterprises ( Sachdev             Fund based-TL         ICRA D       95.7
Steel Works Pvt Ltd)
ISSUER NOT COOPERATING
Vardhman Polytex Ltd                    LT fundbased          ICRA D       4640
ISSUER NOT COOPERATING
Walplast Products Pvt Ltd               FB -CC                ICRA BBB     40
Walplast Products Pvt Ltd               FB -TL                ICRA BBB     5
Wonder Signs                            BLR                   ICRA B/      70
                                                              ICRA A
ISSUER NOT COOPERATING
Adani Gas Ltd                           TL                    ICRA A+      3940    -
Placed on watch with developing implications
Adani Gas Ltd                           Unallocated limits    ICRA A+ /    240     -
                                                              ICRA A1+
Placed on watch with developing implications
Amgoorie India Ltd                      Bk Fac                ICRA A+/     50      -
                                                              ICRA A1+
Appl Industries Ltd                     Unallocated           -                    -
Appl Industries Ltd                     CC                    ICRA BBB-    960     re-affirmed
Appl Industries Ltd                     TL                    ICRA BBB-    650     re-affirmed
Goodricke Group Ltd                     Bk Fac                ICRA AA- /   830     -
                                                              ICRA A1+
Hcl Technologies Ltd                    LT/ST FB Fac          -            0       Reaffirmed
Hcl Technologies Ltd                    CC Fac                ICRA AAA     600     Reaffirmed
Hcl Technologies Ltd                    LT/ST Non-FB Fac      ICRA         11670   Reaffirmed
                                                              AAA/ICRA A1+
Hcl Technologies Ltd                    LT/ST Fund Based &    ICRA         17440   Reaffirmed
                                        Non-Fund Based   Fac  AAA/ICRA
                                                              A1+ 
Hcl Technologies Ltd                    CP                                 2000    Reaffirmed
Koomber Tea Company Pvt Ltd             Bk Fac                ICRA A+/     41      -
                                                              ICRA A1+
Kotak Mahindra Bank Ltd                 Upper Tier II Bonds   ICRA AA+             Withdrawn
                                        Programme
Kotak Mahindra Bank Ltd                 Infrastructure Bonds  ICRA AAA     15000   Reaffirmed
                                        Programme
Kotak Mahindra Bank Ltd                 Lower Tier II Bonds   ICRA AAA     1858    Reaffirmed
                                        Programme
Kotak Mahindra Bank Ltd                 Lower Tier II Bonds   ICRA AAA             Withdrawn
                                        Programme
Lakshmi Ganapathi Rice Mill             CC TL Unallocated LT  ICRA BB      200     Upgraded
                                        Fund based – TL                            from ICRA BB
Orange Renewable Power Pvt Ltd          TL                    ICRA A       750     Revised from
                                                                                   ICRA A-
Orange Renewable Power Pvt Ltd          CC                    ICRA A       41.1    Revised from
                                                                                   ICRA A-
Pon Pure Chemical India Pvt Ltd         LT, FB Fac (CC)       ICRA BBB+    650     outstanding
Pon Pure Chemical India Pvt Ltd         LT, FB Fac (TL)       ICRA BBB+    140.3   outstanding
Pon Pure Chemical India Pvt Ltd         LT/ST, FB limits      ICRA BBB+ /  450     outstanding
                                                              ICRA A2
Pooshya Exports Pvt Ltd                 LT: Fundbased Fac     ICRA B       20      Withdrawn
ISSUER NOT COOPERATING
Stewart Holl (India) Ltd                Bk Fac                ICRA A+/     49.2    -
                                                              ICRA A1+
Tata International Ltd                  Issuer Rating         ICRA A               -
placed on notice of withdrawal for one month
Tata International Ltd                  TL                    ICRA A       480.7   Withdrawn
Tata International Ltd                  LT, FB Fac            ICRA A       3750    Withdrawn
Tirupati Shelters Ltd                   FB – TL               ICRA BB+     155.2   Assigned
Tirupati Shelters Ltd                   FB – Unallocated      ICRA         34.8    Assigned
                                        Limits                BB+/ICRA A4+
   
--------------------------------------------------------------------------------------------
$: 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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