January 9, 2019 / 11:22 AM / in 3 months

RPT-ICRA ratings for Indian debt instruments-Jan 9

 (Repeating to add additional ratings as of January 8, 2019)
    Jan 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 8, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bandhan Bank Ltd                        CD                    ICRA A1+     15000   outstanding
Flash Distribution Pvt Ltd              Non-Fund Based        ICRA A4+     400     Upgraded
                                                                                   from ICRA A4
Ghai Construction Ltd                   Non-fund Based - BG   ICRA A4+     250     Assigned
Gowra Petrochem Pvt Ltd                 Unallocated limits    ICRA A2      13      Reaffirmed
Gowra Petrochem Pvt Ltd                 NFBL                  ICRA A2      70      Reaffirmed
Gruh Finance Ltd                        CP Programme          ICRA A1+     75000   Reaffirmed
Hindustan Petroleum                     CP                    ICRA A1+     150000  Reaffirmed
Corporation Ltd
Hindustan Petroleum                     Non-FBL               ICRA A1+     170000  Reaffirmed
Corporation Ltd
Jamshedpur Continuous                   CP/ST NCD             ICRA A1+     1750    Reaffirmed
Annealing & Processing Co.
Pvt. Ltd.
Jm Financial Properties And             CP Programme          ICRA A1+     2500    Assigned /
Holdings Ltd                                                                       Outstanding
Kap Cones Pvt Ltd                       Non-fund Based        ICRA A4+     40      Withdrawn
(ISSUER NOT COOPERATING)
Luxmi Tea Company Pvt Ltd               FB – ST Loan          ICRA A1      55*     Reaffirmed
*sub-limits of cash credit facility / (Removed from rating watch with developing implications)
Maheshwari Mining Pvt Ltd               Non-FBL – BG          ICRA A3      370     Reaffirmed
Maheshwari Mining Pvt Ltd               Non-FBL – LOC 1       ICRA A3      -       Reaffirmed
1 Sub-limit of Cash Credit
Maheshwari Mining Pvt Ltd               Non-FBL – LOC 2       ICRA A3      -       Reaffirmed
2 Sub-limit of Bank Guarantee
Outshiny India Pvt Ltd                  ST – FB               ICRA A4+     180     Upgraded
(Erstwhile Outshiny India                                                          from ICRA A4
Apparels Pvt Ltd)
Super Smelters Ltd                      Non-FB Fac            ICRA A3      1500    Reaffirmed
Triveni Turbine Ltd                     Non-fund              ICRA A1+     3150    Reaffirmed
                                        Based-Working Capital
                                        Fac
Triveni Turbine Ltd                     Non-fund              ICRA A1+     300     Reaffirmed
                                        Based-Proposed Fac
Unique Structures & Towers Ltd          Non-fund Based        ICRA A4+     927     Reaffirmed
Zeco Aircon Ltd                         ST: Non-fund Based    ICRA A2      150     Reaffirmed
(Removed from Issuer Not Cooperating category)


MEDIUM TERM RATINGS:
-------------------
Gruh Finance Ltd                        Fixed Deposits        MAAA @       -       -
                                        Programme
@; placed on watch with negative implications



LONG TERM RATINGS:
-------------------
Bandhan Bank Ltd                        Subordinated Tier II  ICRA AA      1600    -
                                        NCD
(Placed on rating watch with developing implications)
Bandhan Bank Ltd                        TL from Bks           ICRA AA      800     -
(Placed on rating watch with developing implications)
Cms Info Systems Ltd                    FB - Working Capital  ICRA AA /    1190    Outstanding
                                        Fac                   ICRA A1+
Cms Info Systems Ltd                    Non-fund Based -      ICRA AA /    2310    Assigned /
                                        Working Capital Fac   ICRA A1+             Outstanding
Flash Distribution Pvt Ltd              Fund based            ICRA BB+     360     Upgraded
                                                                                   from ICRA BB
Flash Distribution Pvt Ltd              Unallocated           ICRA BB+     20      Upgraded
                                                                                   from ICRA BB
G Corp Homes Pvt Ltd                    TL                    ICRA BBB     400     Revised from
                                                                                   ICRA BBB+
Ghai Construction Ltd                   FB - Overdraft        ICRA BB      80      Assigned
Ghai Construction Ltd                   Unallocated Limits    ICRA BB/A4+  750     Assigned
Gowra Petrochem Pvt Ltd                 FBL                   ICRA BBB+    45      Reaffirmed
Gowra Petrochem Pvt Ltd                 Fund Based/NFBL       ICRA BBB+/A2 330     Reaffirmed
Gruh Finance Ltd                        NCD Programme         ICRA AAA     -       Reaffirmed
Gruh Finance Ltd                        NCD Programme         ICRA AAA @   57500   -
@; placed on watch with negative implications
Gruh Finance Ltd                        Subordinated Debt     ICRA AAA @   350     -
                                        Programme
@; placed on watch with negative implications
Hindustan Petroleum                     NCD Programme         ICRA AAA     30000   Reaffirmed
Corporation Ltd
Hindustan Petroleum                     CC Limits             ICRA AAA     40000   Reaffirmed
Corporation Ltd
Hindustan Petroleum                     FBL                   ICRA AAA     240000  Reaffirmed
Corporation Ltd
Hindustan Petroleum                     Issuer Rating         ICRA AAA     -       Reaffirmed
Corporation Ltd
Jm Financial Properties And             FB – TL               ICRA AA      1350    Outstanding
Holdings Ltd
Kap Cones Pvt Ltd                       FB - CC               ICRA BB+     120     Withdrawn
(ISSUER NOT COOPERATING)
Kap Cones Pvt Ltd                       FB - TL               ICRA BB+     161.3   Withdrawn
(ISSUER NOT COOPERATING)
Kap Cones Pvt Ltd                       Unallocated           ICRA BB+/A4+ 68.1    Withdrawn
(ISSUER NOT COOPERATING)
Laxmi Cotton                            FBL- CC               ICRA B+      120     Reaffirmed
Luxmi Tea Company Pvt Ltd               FB-TL                 ICRA A       980     Reaffirmed
(Removed from rating watch with developing implications)
Luxmi Tea Company Pvt Ltd               FB – CC               ICRA A       295     Reaffirmed
(Removed from rating watch with developing implications)
Madhusudan Garai                        FB Limit – CC         ICRA B       30      Reaffirmed
Madhusudan Garai                        Non-FBL – BG          ICRA B       35      Reaffirmed
Maheshwari Mining Pvt Ltd               FB Limit – CC         ICRA BBB-    290     Reaffirmed
Maheshwari Mining Pvt Ltd               FB Limit – Working    ICRA BBB-    -       Reaffirmed
                                        Capital Demand Loan 1
1 Sub-limit of Cash Credit
Orange County Resorts & Hotels          TL                    ICRA BBB+    600     Assigned
Ltd
Outshiny India Pvt Ltd                  LT – FB – CC          ICRA BB      65      Upgraded
(Erstwhile Outshiny India                                                          from ICRA BB-
Apparels Pvt Ltd)
Oxyzo Financial Services Pvt            LT Bk Lines           ICRA BBB     500     Assigned
Ltd
Oxyzo Financial Services Pvt            Issuer rating         ICRA BBB     -       outstanding
Ltd
Reliance Home Finance Ltd               Indian Receivable     Provisional  938.1   Assigned
                                        Trust 2018 Series 6   ICRA AA
Reliance Home Finance Ltd               Indian Receivable     Provisional  802.2   Assigned
                                        Trust 2018 Series 5   ICRA AA
Sat Kartar Mining & Allied              Bk Fac                ICRA BBB- /  145     -
Services Pvt Ltd                                              ICRA A3
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Sathyanarayana Agro Industries          FBL- CC               ICRA B+      90      Reaffirmed
Singh Transporters                      Bk Fac                ICRA BBB- /  220     -
                                                              ICRA A3+
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Super Smelters Ltd                      TL                    ICRA BBB-    7503    Reaffirmed
Super Smelters Ltd                      FB Fac**              ICRA BBB-    6497    Reaffirmed
**Includes untied limit of Rs. 324.70 crore
Triveni Turbine Ltd                     FB - Working Capital  ICRA AA-     295     Reaffirmed
                                        Fac
Unique Structures & Towers Ltd          Fund Based – CC       ICRA BB+     242.5   Reaffirmed
Unique Structures & Towers Ltd          Fund Based - TL       ICRA BB+     13.9    Reaffirmed
Zeco Aircon Ltd                         LT: Fund Based/CC     ICRA BBB     550     Reaffirmed
(Removed from Issuer Not Cooperating category)
Zeco Aircon Ltd                         LT: Fund Based/ TL    ICRA BBB     227.5   Reaffirmed
(Removed from Issuer Not Cooperating category)
Zeco Aircon Ltd                         LT / Shortterm /      ICRA BBB/A2  72.5    Reaffirmed
                                        Unallocated
(Removed from Issuer Not Cooperating category)
SBK Properties Pvt Ltd                  NCD Programme         ICRA AA-     833.3   Withdrawn
                                                              (SO)
--------------------------------------------------------------------------------------------
$: 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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