July 19, 2018 / 11:28 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 19

 (Repeating to add additonal ratings as of July 18, 2018)
    Jul 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 18, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
GDJD Exports                            Unallocated facility  ICRA A4      14      Reaffirmed
Kanco Tea & Industries Ltd              Non-FBL Sl.           ICRA A4+     6       Downgraded
                                                                                   from ICRA A3
Laxmi Lal Patel                         ST: NonFund Based-BG  ICRA A4      70
                                        Fixed- Deposit
                                        Programme
 (Issuer did not co-operate; based on best available information )
Oriental Carbon & Chemicals Ltd         Non-FB limits         ICRA A1+     140     Upgraded
                                                                                   from ICRA A1
Shell Mrpl Aviation Fuels And           Non-fund              ICRA A1+     150     Reaffirmed
Services Ltd                            Based-Working Capital
                                        Fac
Northern Arc Capital Ltd                CP                    ICRA A1+     6000    outstanding
Vibracoustic India Pvt Ltd              ST Fund Based         ICRA A1+     50
Reason for delay in carrying out periodic review: Issuer delayed in giving information
    
MEDIUM TERM RATINGS:
-------------------
Oriental Carbon & Chemicals Ltd         Fixed- Deposit        MAA-         50      Upgraded
                                        Programme                                  from MA
LONG TERM RATINGS:
-------------------
Capfloat Financial Services             PTC Series A2         ICRA         -       upgraded
Pvt Ltd-Ephor Sbl Ifmr Capital                                BBB+(SO)             from ICRA
2016                                                                               BB(SO)
Capfloat Financial Services             PTC Series A2         ICRA         -       upgraded
Pvt Ltd-Kudrow Sbl Ifmr                                       BBB+(SO)             from ICRA
Capital 2016                                                                       BB(SO)
GDJD Exports                            FBL                   ICRA B+      80      Reaffirmed
Hydro Magus Pvt. Ltd.                   FB Limits             ICRA A-(SO)  80**    Reaffirmed
**earlier under unallocated limits
Hydro Magus Pvt. Ltd.                   Non-FB Limits         ICRA A-(SO)  120**   Reaffirmed
**earlier under unallocated limits
India Shelter Finance                   PTC Series A2         ICRA AA(SO)  -       Withdrawn
Corporation Ltd-Aterno Ahl
Ifmr Capital 2014
Kanco Tea & Industries Ltd              FBL                   ICRA BB+     372.5   Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Laxmi Lal Patel                         LT: Fund Based-       ICRA B+      40
                                        Overdraft
Moved to ‘Issuer Not Cooperating’ category
Classic Enterprises Ltd                 FBL                   ICRA BB+     50      -
Reason for delay in carrying out periodic review ? Info and fee not provided
Classic Enterprises Ltd                 FBL                   ICRA BB+     85      -
Reason for delay in carrying out periodic review ? Info and fee not provided
Kanishk Metalloys                       FBL                   ICRA B+      85      -
Reason for delay in carrying out periodic review?Info not provided
Nandan Sales Corporation                FBL                   ICRA B+      75      -
Reason for delay in carrying out periodic review?Partial info not provided
Northern Arc Capital Ltd                NCD                   ICRA A+      2500    Assigned
Northern Arc Capital Ltd                LT FBL*               ICRA A+      20000   outstanding
 *Based on limits outstanding as on February 16, 2018
Northern Arc Capital Ltd                NCDs                  ICRA A+      6350    outstanding
Northern Arc Capital Ltd                Subordinated Debt     ICRA A+      825     outstanding
Northern Arc Capital Ltd-Aris           Loan Fac              Prov rating  50      Assigned
Capital Pvt Ltd (Aris)                                        of ICRA
                                                              A-(SO)
Northern Arc Capital Ltd-Essel          Loan Fac              Prov rating  150     Assigned
Finance Business Loans Ltd                                    of ICRA
(Essel)                                                       A-(SO)
Northern Arc Capital Ltd-Fino           Loan Fac              Prov rating  100     Assigned
Finance Pvt Ltd (Fino)                                        of ICRA
                                                              A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  100     Assigned
Ltd-Kanakadurga Finance Ltd                                   of ICRA
(Kanakdurga)                                                  A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  200     Assigned
Ltd-Lendingkart Finance Ltd                                   of ICRA
(Lendingkart)                                                 A-(SO)
Northern Arc Capital Ltd-Light          Loan Fac              Prov rating  70      Assigned
Microfinance Pvt Ltd (Light)                                  of ICRA
                                                              A-(SO)
Northern Arc Capital Ltd-Pahal          Loan Fac              Prov rating  70      Assigned
Financial Services Pvt Ltd                                    of ICRA
(Pahal)                                                       A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  150     Assigned
Ltd-Pudhuaaru Financial                                       of ICRA
Services Pvt Ltd (Pfspl)                                      A-(SO)
Northern Arc Capital Ltd-Saija          Loan Fac              Prov rating  150     Assigned
Finance Pvt Ltd (Saija)                                       of ICRA
                                                              A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  60      Assigned
Ltd-Sambandh Finserve Pvt Ltd                                 of ICRA
(Sambandh)                                                    A-(SO)
Northern Arc Capital Ltd-Satya          Loan Fac              Prov rating  150     Assigned
Microcapital Ltd (Satya)                                      of ICRA
                                                              A-(SO)
Northern Arc Capital Ltd-Shri           Loan Fac              Prov rating  100     Assigned
Ram Finance Corporation Pvt                                   of ICRA
Ltd (Srfcpl)                                                  A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  250     Assigned
Ltd-Sonata Finance Pvt Ltd                                    of ICRA
(Sonata)                                                      A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  50      Assigned
Ltd-Svasti Microfinance Pvt.                                  of ICRA
Ltd. (Svasti)                                                 A-(SO)
Northern Arc Capital                    Loan Fac              Prov rating  100     Assigned
Ltd-Village Financial Services                                of ICRA
Ltd (Village)                                                 A-(SO)
Northern Arc Capital Ltd-Zen            Loan Fac              Prov rating  250     Assigned
Lefin Pvt Ltd (Capital Float)                                 of ICRA
                                                              A-(SO)
Oriental Carbon & Chemicals Ltd         TL                    ICRA A+      1160    Upgraded
                                                                                   from ICRA A
Oriental Carbon & Chemicals Ltd         FB limits             ICRA A+      700     Upgraded
                                                              /ICRA A1+            from ICRA A
                                                                                   /ICRA A1
Pavansut Polytex Pvt. Ltd.              FB TL                 ICRA B+      47.5    Upgraded
                                                                                   from ICRA B
Pavansut Polytex Pvt. Ltd.              FB CC                 ICRA B+      35      Upgraded
                                                                                   from ICRA B
Select Infrastructure Pvt Ltd           LT Unallocated        ICRA AA      1970    Reaffirmed
Shell Mrpl Aviation Fuels And           FB- Working Capital   ICRA AA-     1150    Reaffirmed
Services Ltd                            Fac
Tata Cummins Pvt Ltd                    CP                    ICRA AA      2500    -  
                                                              /ICRA A1+
Reason for delay in carrying out periodic review:- Review process is underway
Tata Cummins Pvt Ltd                    BLR                   ICRA AA      110     -
                                                              /ICRA A1+
Reason for delay in carrying out  periodic review:- Review process is underway   
Tata Cummins Pvt Ltd                    BLR                   ICRA AA      2000    -
                                                              /ICRA A1+
Reason for delay in carrying out  periodic review:- Review process is underway
Vibracoustic India Pvt Ltd              Fund Based - WCDL     ICRA A+ /A1+ 36      -
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Vibracoustic India Pvt Ltd              Unallocated Limits    ICRA A+ /A1+ 59      -
Reason for delay in  carrying out  periodic review: Issuer delayed in giving information
--------------------------------------------------------------------------------------------
$: 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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