July 23, 2019 / 12:22 PM / a month ago

RPT-ICRA ratings for Indian debt instruments-Jul 23

 (Repeating to add more ratings)
   Jul 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 22, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Agora Microfinance India Ltd            MFI Grading           M3+          -       Assigned
Avr Overseas Pvt Ltd                    ST Non-fund Based     ICRA A4+     250     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Bhartiya Rail Bijlee Co. Ltd            Non-fund based BG     ICRA A1      1000    Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Unallocated limits    ICRA A1      4001.5  Reaffirmed
Limitorque India Ltd                    ST – NonFund Based    ICRA A4      21
(Issuer Not cooperating)
Madura Micro Finance Ltd                MFI Grading           M2+          -       Assigned
Ptc India Financial Services            CP                    ICRA A1+     17500   Reaffirmed
Ltd
Ptc India Financial Services            ST Fund Based         ICRA A1+     3750    Reaffirmed
Ltd
Ratedi Wind Power Pvt Ltd               ST- FB limits         ICRA A3      250     downgraded
                                                                                   from ICRA A3+
Renjin Construction                     Non Fund based –BG    ICRA A4      19.5    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Suncore Tiles Pvt. Ltd                  Non fund based- BG    ICRA A4      35      Withdrawn
Supertron Electronics Pvt Ltd           Non fund based –      ICRA A2+     1960    Reaffirmed
                                        BG/LOC/Forward
                                        Contract
Teems India Towerlines Pvt Ltd          ST – Non-fund based   ICRA A3      230     -
Reason for delay in carrying out periodic review: Review process is underway


LONG TERM RATINGS:
-------------------
Avr Overseas Pvt Ltd                    LT FB – CC            ICRA BB      100     -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Badepally Municipality                  Issuer Rating         ICRA B+      -       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Bhartiya Rail Bijlee Co. Ltd            Fund based- TL        ICRA A       56998.5 Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Fund based- CC        ICRA A       3000    Reaffirmed
Bhartiya Rail Bijlee Co. Ltd            Unallocated limits    ICRA A       5000    Reaffirmed
Brightstar Infrastructure Pvt           Fund based- TL        ICRA BB+     400     -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Etesian Urja Ltd:                       LT - TL               ICRA BBB     4010    Reaffirmed
Kkrc Infrastructure Pvt Ltd             LT- Secured Overdraft ICRA B       100     Reaffirmed
                                                                                   and Removed
                                                                                   from Issuer 
                                                                                   Not
                                                                                   Cooperating
                                                                                   category
Kkrc Infrastructure Pvt Ltd             LT- BG                ICRA B       240     Reaffirmed
                                                                                   and Removed
                                                                                   from Issuer 
                                                                                   Not
                                                                                   Cooperating
                                                                                   category
Lalpur Wind Energy Pvt Ltd              LT - TL               ICRA BB+     9733.1  downgraded
                                                                                   from ICRA
                                                                                   BBB-
Limitorque India Ltd                    LT - Fund Based/TL    ICRA B       170
(Issuer Not cooperating)
Limitorque India Ltd                    LT - Fund Based/CC    ICRA B       119
(Issuer Not cooperating)
Magma Fincorp Ltd                       TL (Bk)               ICRA AA-     6844    Reaffirmed
Magma Fincorp Ltd                       NCD Programme         ICRA AA-     3350    Reaffirmed
Magma Housing Finance Ltd               TL (Bk)               ICRA AA-     4321.4  Reaffirmed
Magma Housing Finance Ltd               NCD Programme         ICRA AA-     500     Reaffirmed
Nano Agro Foods Pvt Ltd                 Fund based- CC        ICRA B       100     Withdrawn
Nano Agro Foods Pvt Ltd                 Unallocated           ICRA B       7.3     Withdrawn
Prapalsha Agros Ltd                     Fund based- CC        ICRA B       110     Reaffirmed
Ptc India Financial Services            NCDs                  ICRA A+      3208.8  Reaffirmed
Ltd
Ptc India Financial Services            LT Fund Based         ICRA A+      10500   Reaffirmed
Ltd
Ratedi Wind Power Pvt Ltd               LT - TL               ICRA BBB-    5664.2  Downgraded
                                                                                   from ICRA BBB
Renjin Construction                     FB-Overdraft          ICRA B+      30      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Renjin Construction                     Unallocated Limit     ICRA B+ /A4  23      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rosa Power Supply Co. Ltd               TL – LT Scale         ICRA B-      48670   Revised
                                                                                   from 
                                                                                   ICRA
                                                                                   BB+, 
                                                                                   rating 
                                                                                   continues 
                                                                                   to remain
                                                                                   in issuer 
                                                                                   not
                                                                                   Cooperating
                                                                                   category
Rosa Power Supply Co. Ltd               Working Capital Fac   ICRA B- /    15540   Revised from
                                        (CC/WCDL)             ICRA A4              ICRA BB+
                                                                                   /ICRA A4+;
                                                                                   rating 
                                                                                   continues 
                                                                                   to remain
                                                                                   in issuer 
                                                                                   not
                                                                                   Cooperating
                                                                                   category
Rosa Power Supply Co. Ltd               LER limit             ICRA B- /    100     Revised from
                                                              ICRA A4              ICRA BB+
                                                                                   /ICRA A4+; 
                                                                                   rating 
                                                                                   continues 
                                                                                   to remain
                                                                                   in issuer 
                                                                                   not
                                                                                   Cooperating
                                                                                   category
Rosa Power Supply Co. Ltd               Non-FBL (B/G and L/C) ICRA B- /    1500    Revised from
                                                              ICRA A4              ICRA BB+
                                                                                   /ICRA A4+; 
                                                                                   rating 
                                                                                   continues 
                                                                                   to remain
                                                                                   in issuer 
                                                                                   not
                                                                                   Cooperating
                                                                                   category
Sandeep Rice Mills                      LT- Fund Based/CC     ICRA B       100     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Shriram Transport Finance Co.           PTC Series A1a        ICRA AAA(SO) 891.7   Assigned
Ltd - Sansar Trust May 2019
Shriram Transport Finance Co.           PTC Series A1b        ICRA AAA(SO) 866.7   Assigned
Ltd - Sansar Trust May 2019
Shriram Transport Finance Co.           PTC Series A1c        ICRA AAA(SO) 593.5   Assigned
Ltd - Sansar Trust May 2019
Shriram Transport Finance Co.           PTC Series A1d        ICRA AAA(SO) 552.1   Assigned
Ltd - Sansar Trust May 2019
Shriram Transport Finance Co.           PTC Series A2         ICRA AAA(SO) 2904    Assigned
Ltd - Sansar Trust May 2019
Shrishti Technologies                   LT- Fund Based/CC     ICRA B+      60      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
South Central Railway                   CC Fac                ICRA BBB+    750     Outstanding
Employees’ Co-Operative Credit
Society Ltd
South Central Railway                   TL                    ICRA BBB+    750     Outstanding
Employees’ Co-Operative Credit
Society Ltd
South Central Railway                   Unallocated Bk lines  ICRA BBB+    1000    Assigned
Employees’ Co-Operative Credit
Society Ltd
Suncore Tiles Pvt. Ltd                  Fund based- CC        ICRA B       100     Withdrawn
Suncore Tiles Pvt. Ltd                  Fund based- TL        ICRA B       260     Withdrawn
Suncore Tiles Pvt. Ltd                  Unallocated           ICRA B /     5       Withdrawn
                                                              ICRA A4
Supertron Electronics Pvt Ltd           LT fund based – CC    ICRA A-      1350    Reaffirmed
Supertron Electronics Pvt Ltd           LT fund based –       ICRA A-      1750    Reaffirmed
                                        Channel financing
Teems India Towerlines Pvt Ltd          LT – FB               ICRA BBB-    20      -
Reason for delay in carrying out periodic review: Review process is underway
Wind Urja India Pvt Ltd                 LT - TL               ICRA B+      1330.9  Downgraded
                                                                                   from ICRA BB
--------------------------------------------------------------------------------------------
$: 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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