July 27, 2018 / 11:14 AM / in 4 months

RPT-ICRA ratings for Indian debt instruments-Jul 27

 (Repeating to add more ratings)
    Jul 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 26, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Agro Indus Credits Ltd                  Bk Fac                ICRA A4      250     Assigned
Alpha Services                          NFBL Unallocated      ICRA A3      150     Reaffirmed
Bharat Immunologicals Amp;              ST non-fund based     ICRA A4      650     Revised from
Biologicals Corporation Ltd                                                        ICRA A4+
continues to be in ‘Issuer Not Cooperating’ category
Delta Infralogistics                    ST: Non-FB Fac        ICRA A3      70      Reaffirmed
(Worldwide) Ltd
Delta Infralogistics                    ST: FB Fac            ICRA A3      30      Reaffirmed
(Worldwide) Ltd
H D Enterprises                         Non-fund Based BG     ICRA A4      300     Reaffirmed
Hare Krishna Metallics Pvt. Ltd         ST – non-fund based   ICRA A3      181
Reason for delay in carrying out periodic review: Review process is underway
Hare Krishna Metallics Pvt. Ltd         ST – non-fund based-  ICRA A3      0
                                        sublimit
Reason for delay in carrying out periodic review: Review process is underway
Hikal Ltd                               ST-Fund Based         ICRA A1      2029    Upgraded
                                                                                   from ICRA A2+
Hikal Ltd                               ST Non-fund Based     ICRA A1      700     Upgraded
                                                                                   from ICRA A2+
Hyderabad Steels                        ST – NFBL             ICRA A4      35
Rating continues to remain under ‘Issuer Not Cooperating’ category
K.P.R. Agrochem Ltd                     Non Fund based-LOC    ICRA A4      1500    Downgraded
                                                                                   from ICRA A3
Rating continues to remain in the ‘Issuer Not Cooperating’ category
K.P.R. Agrochem Ltd                     Non Fund based-BG     ICRA A4      15      Downgraded
                                                                                   from ICRA A3
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Kodandaram Roller Flour Mills           ST – Non-fund based   ICRA A4+     50      Reaffirmed
Pvt Ltd
Linkwell Telesystems Pvt Ltd            NFBL                  ICRA A3+     1050
Reason for delay in carrying out periodic review: Review process underway
Mitter Fasteners                        ST: Non-Fund Based-LOCICRA A4      15
Moved to ‘Issuer Not Cooperating’ category
Mitter Fasteners                        ST: Non-Fund Based-BG ICRA A4      2
Moved to ‘Issuer Not Cooperating’ category
Mosaic India Pvt Ltd                    ST FBL                ICRA A1+     6280    Reaffirmed
Mosaic India Pvt Ltd                    CP programme          ICRA A1+     2000    Reaffirmed
Mosaic India Pvt Ltd                    ST un-allocated       ICRA A1+     620     Reaffirmed
National Steel And Agro                 ST unallocated Bk Fac ICRA D       2153    Revised from
Industries Ltd                                                                     ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
National Steel And Agro                 ST non-fund           ICRA D       11995.2 Revised from
Industries Ltd                                                                     ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Parisons Agrotech Pvt Ltd               ST – Non-fund based   ICRA A4+     180     Reaffirmed
Parisons Foods Pvt Ltd                  ST – Non-fund based   ICRA A4+     360     Reaffirmed
Parisons Infrastructure Pvt Ltd         ST – Non-fund based   ICRA A4+     150     Upgraded
                                                                                   from ICRA A4
Parisons Roller Flour Mills             ST – Non-fund based   ICRA A4+     140     Reaffirmed
Pvt Ltd
Power Mech Infra Ltd                    NFBL CC Limits        ICRA A3      300
Reason for delay in carrying out periodic review: Review process underway
Raajratna Metal Industries Ltd          ST Fund Based-        ICRA A1      2900    Upgraded
                                        PC/PCFC/FBD/FBN/PSCFC                      from ICRA A2+
Raajratna Metal Industries Ltd          ST NFBL               ICRA A1      500     Upgraded
                                                                                   from ICRA A2+
Ramkrishna Forgings Ltd                 Non-fund              ICRA A1      2390    Revised from
                                        based-Working Capital                      ICRA A2+
                                        Fac
Rinac India Ltd                         ST: Non-FB Fac        ICRA A3+     300     Reaffirmed
Secure Industries Pvt Ltd               Non-fund based- LOC   ICRA A4+     0       Upgraded
                                                                                   from ICRA A4
Sharda Construction And                 ST – Fund based       ICRA A3+     100
Corporation Pvt Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Sharda Construction And                 ST – Non-Fund based   ICRA A3+     10
Corporation Pvt Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Shree Polyester Industries              Non-fund based – LOC  ICRA A4+     25      Upgraded
Pvt. Ltd.                                                                          from ICRA A4
removed from non cooperation category 
Sre Venkatachalapathy Textiles          ST – Non-FB Fac       ICRA A4      25
Reason for delay in carrying out periodic review: Issuer not co-operating
Sterling Tools Ltd                      NFBL Unallocated      ICRA A1+     327.5   Reaffirmed
Sumilon Industries Ltd                  Non Fund based-BG     ICRA A4      70      Withdrawn
ISSUER NOT COOPERATING
Sumilon Industries Ltd                  Non Fund based-Letter ICRA A4      150     Withdrawn
                                        of 15 Credit
ISSUER NOT COOPERATING
Sumilon Polyester Ltd                   Non Fund based-BG     ICRA A4      100     Withdrawn
ISSUER NOT COOPERATING
Sumilon Polyester Ltd                   Non Fund based-Letter ICRA A4      200     Withdrawn
                                        of 20 Credit
ISSUER NOT COOPERATING
Svs Mookambika Constructions            ST – NFBL             ICRA A4      110
Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category

LONG TERM RATINGS:
-------------------
Aequs Automotive Pvt Ltd                TL                    ICRA BBB     34.8    Withdrawn
                                                              (SO)
Alpha Services                          FBL                   ICRA BBB-    150     Reaffirmed
outlook revised to Negative from Stable
Bharat Immunologicals &                 LT FB                 ICRA BB-     600     Revised from
Biologicals Corporation Ltd                                                        ICRA BB+
continues to be in ‘Issuer Not Cooperating’ category
Delta Infralogistics                    LT: FB Fac            ICRA BBB-    200     Reaffirmed
(Worldwide) Ltd
East Hyderabad Expressway Ltd           Fund based-TL         ICRA BB      1194.9  Downgraded
                                                                                   from ICRA BBB
Ess Kay Fincorp Ltd-Shane CV            PTC Series A1         ICRA BBB(SO) 184.7   Reaffirmed
Ifmr Capital 2017
Ess Kay Fincorp Ltd-Volga CV            PTC Series A1         ICRA A-(SO)  312.4   Reaffirmed
Ifmr Capital 2017
Ess Kay Fincorp Ltd-Volga CV            PTC Series A2         ICRA BB(SO)  46.7    Reaffirmed
Ifmr Capital 2017
Green Gas Ltd                           Proposed TL           ICRA AA-     2000    Upgraded
                                                                                   from ICRA A+
Gricl Rail Bridge Development           Fund based-TL         ICRA BB-     1880    Downgraded
Co. Ltd (Grbdcl)                                                                   from ICRA
                                                                                   BBB-
Goswami Infratech Pvt Ltd               NCD Programme         ICRA         6000    Reaffirmed
                                                              AA+(SO)
Goswami Infratech Pvt Ltd               NCD Programme         ICRA         2700    Reaffirmed
                                                              AA+(SO)
Gurukrupa Metals                        Fund based-CC         ICRA B-      100
Rating moved to the ‘Issuer Not Cooperating’ category
H D Enterprises                         FB CC                 ICRA B+      75      Reaffirmed
H D Enterprises                         FB TL                 ICRA B+      19.4    Reaffirmed
H D Enterprises                         Unallocated           ICRA B+ /A4  55.6    Reaffirmed
Hare Krishna Metallics Pvt. Ltd         LT- Fund based        ICRA BBB-    170
Reason for delay in carrying out periodic review: Review process is underway
Hare Krishna Metallics Pvt. Ltd         LT – unallocated      ICRA BBB-    56.2
Reason for delay in carrying out periodic review: Review process is underway
Hikal Ltd                               FB-TL                 ICRA A       2340    Upgraded
                                                                                   from ICRA A-
Hikal Ltd                               FB- Working Capital   ICRA A       2240    Upgraded
                                        Fac                                        from ICRA A-
Hikal Ltd                               LT: TL (USD million)  ICRA A       180     Upgraded
                                                                                   from ICRA A-
Himagiri Hospitals Pvt Ltd              BLR                   ICRA B+      100
Reason for delay in carrying out periodic review – Issuer not cooperating
Hyderabad Steels                        LT - FBL              ICRA BB-     40
Rating continues to remain under ‘Issuer Not Cooperating’ category
Indian Gem & Jewellery                  Bk Fac                ICRA         430
Creation Pvt Ltd                                              BB+/ICRA A4+
Reason for delay in carrying out periodic review:- Issuer not cooperating
Jabalpur Entertainment                  FBL                   ICRA BB-     68.5
Complexes Pvt Ltd
Reason for delay in carrying out periodic review-Info and fee not provided
Jabalpur Entertainment                  Unallocated           ICRA BB-     71.5
Complexes Pvt Ltd
Reason for delay in carrying out periodic review-Info and fee not provided
K.P.R. Agrochem Ltd                     Fund based-CC         ICRA BB-     1990    Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Rating continues to remain in the ‘Issuer Not Cooperating’ category
K.P.R. Agrochem Ltd                     Fund based-TL         ICRA BB-     1000    Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Rating continues to remain in the ‘Issuer Not Cooperating’ category
K.P.R. Agrochem Ltd                     LT-Unallocated Limits ICRA BB-     495     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Kalinga Distributors                    LT – FB               ICRA B       60
Reason for delay in carrying out periodic review: Review process underway
Kalinga Distributors                    LT – Unallocated      ICRA B       40
Reason for delay in carrying out periodic review: Review process underway
Krishnaiah Motors Pvt Ltd               LT - FBL              ICRA B+      245
Rating moved to the ‘Issuer Not Cooperating’ category
Ksk Mineral Resources Pvt Ltd           BLR                   ICRA D       4510
Reason for delay in carrying out periodic review: Issuer not cooperating
Kodandaram Roller Flour Mills           LT – FB               ICRA BB+     50      Reaffirmed
Pvt Ltd
Linkwell Telesystems Pvt Ltd            FBL                   ICRA BBB     1090
Reason for delay in carrying out periodic review: Review process underway
Linkwell Telesystems Pvt Ltd            Unallocated Limits    ICRA BBB     520
Reason for delay in carrying out periodic review: Review process underway
Lucknow Sitapur Expressway Ltd          LT Fund- based        ICRA D       1420
Rating moved to the ‘Issuer Not Cooperating’ category
Mitter Fasteners                        LT: Fund Based- CC    ICRA BB-     70
ISSUER NON-COOPERATION
Mitter Fasteners                        LT: Fund Based- TL    ICRA BB-     105.1
Moved to ‘Issuer Not Cooperating’ category
National Steel And Agro                 LT FB working capital ICRA D       2005.5  Revised from
Industries Ltd                          Fac                                        ICRA BB
Rating continues to remain in the ‘Issuer Not Cooperating’ category
National Steel And Agro                 LT FB TL Fac          ICRA D       179.5   Revised from
Industries Ltd                                                                     ICRA BB
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Nav Bharat Rice & General Mills         LT: Fund Based- CC    ICRA B       60
Continues to remain under ‘Issuer Not Cooperating’ category
Parisons Agrotech Pvt Ltd               LT – FB               ICRA BB+     30      Reaffirmed
Parisons Foods Pvt Ltd                  LT – FB               ICRA BB+     50      Reaffirmed
Parisons Roller Flour Mills             LT – FB               ICRA BB+     23.5    Reaffirmed
Pvt Ltd
Power Mech Infra Ltd                    FBL                   ICRA BBB-    330
Reason for delay in carrying out periodic review: Review process underway
Prakash Dal & Flour Mills               LT: FBL               ICRA BB+     100
Reason for delay in carrying out periodic review:- Review process is underway
Prakash Dal Amp; Flour Mills            Non-FBL (sublimit of  ICRA BB+     0
                                        FBL)                  /CRA A4+
Reason for delay in carrying out periodic review:- Review process is underway
R K M Powergen Pvt Ltd                  Fund based - TL       ICRA D       11596.3
Continues to remain under ISSUER NOT COOPERATING
R K M Powergen Pvt Ltd                  Non Fund based BG     ICRA D       2550
Continues to remain under ISSUER NOT COOPERATING
Raajratna Metal Industries Ltd          LT Fund Based-TL      ICRA A       100     Upgraded
                                                                                   from ICRA A-
Ramana Educational Trust                LT – FB               ICRA BBB-    150
Reason for delay in carrying out periodic review: Review process underway
Ramkrishna Forgings Ltd                 FB-TL                 ICRA A       4430    Revised from
                                                                                   ICRA A-
Ramkrishna Forgings Ltd                 Fund based- Working   ICRA A       4600    Revised from
                                        Capital Fac                                ICRA A-
Rinac India Ltd                         LT: FB Fac            ICRA BBB     100     Reaffirmed
Rmz Buildcon Pvt Ltd                    TL                    ICRA         5550    Final
                                                              BBB+(SO)
Rmz Buildcon Pvt Ltd                    NCDs                  ICRA         16450   Final
                                                              BBB+(SO)
Rmz Estates Pvt Ltd                     TL                    Prov rating  16000   Confirmed as
                                                              of ICRA              final
                                                              BBB+(SO)
Saspack Ventures Pvt Ltd.               FB -TL                ICRA B       84      Assigned
Saspack Ventures Pvt Ltd.               FB - Working Capital  ICRA B       50      Assigned
                                        Fac
Savitri Polyesters Pvt Ltd              BLR                   ICRA B       64.5
Reason for delay in carrying out periodic review- Issuer not cooperating
Savitri Weaving                         BLR                   ICRA B+      70.6
Reason for delay in carrying out periodic review Issuer not cooperating
Secure Industries Pvt Ltd               FB - CC               ICRA BB      180     Upgraded
                                                                                   from ICRA BB-
Secure Industries Pvt Ltd               Fund Based – TL       ICRA BB      91.9    Upgraded
                                                                                   from ICRA BB-
Secure Industries Pvt Ltd               Fund Based – Packing  ICRA BB      0       Upgraded
                                        Credit/Foreign bill                        from ICRA BB-
                                        discounting
Secure Industries Pvt Ltd               Unallocated limits    ICRA BB      48.1    Upgraded
                                                                                   from ICRA BB-
Sharda Construction And                 Fund based – TL       ICRA BBB     782.3
Corporation Pvt Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Sharda Construction And                 LT – Fund based       ICRA BBB     330
Corporation Pvt Ltd                     Working Capital
Rating moved to the ‘Issuer Not Cooperating’ category
Sharda Construction And                 LT – Non-Fund Based   ICRA BBB     1000
Corporation Pvt Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Sharda Construction And                 LT/ST – Unallocated   ICRA BBB /   0.7
Corporation Pvt Ltd                                           ICRA A3+
Rating moved to the ‘Issuer Not Cooperating’ category
Shree Polyester Industries              Unallocated           -            0       -
Pvt. Ltd.
Shree Polyester Industries              Fund based – CC       ICRA BB      123     Upgraded
Pvt. Ltd.                                                                          from ICRA BB-
removed from non cooperation category
Shree Polyester Industries              Fund based – TL       ICRA BB      79.1    Upgraded
Pvt. Ltd.                                                                          from ICRA BB-
removed from non cooperation category
Siyaram Metal Udyog Pvt Ltd             Fund based-CC         ICRA B-      350
Rating moved to the ‘Issuer Not Cooperating’ category
Skr Wind Energy                         LT fund based – TL    ICRA BB+     59.2    Reaffirmed
                                                              (SO)
Skr Wind Energy                         LT un-allocated LimitsICRA BB+     24.1    Reaffirmed
                                                              (SO)
Sona Beverages Pvt Ltd                  FB Limit              ICRA B-      100     Withdrawn
Sre Venkatachalapathy Textiles          LT – FB Fac           ICRA B+      59.4
Reason for delay in carrying out periodic review: Issuer not co-operating
Sre Venkatachalapathy Textiles          LT – Unallocated      ICRA B+      35.6
                                        limits
Reason for delay in carrying out periodic review: Issuer not co-operating
Srinidhi Real Estate And                Unallocated           ICRA B       80
Constructions
Rating continue to be in ‘Issuer not cooperating’ category
Sterling Tools Ltd                      Unallocataed          -            -       -
Sterling Tools Ltd                      TL                    ICRA AA-     692.4   Upgraded
                                                                                   from ICRA A+
Sterling Tools Ltd                      LT Fund Based         ICRA AA-     650     Upgraded
                                                                                   from ICRA A+
Sumilon Industries Ltd                  Fund based-TL         ICRA BB-     1152.3  Withdrawn
ISSUER NOT COOPERATING
Sumilon Industries Ltd                  Fund based-CC         ICRA BB-     300     Withdrawn
ISSUER NOT COOPERATING
Sumilon Polyester Ltd                   Fund based-Corporate  ICRA BB-     200     Withdrawn
                                        Loan
ISSUER NOT COOPERATING
Sumilon Polyester Ltd                   Fund based-TL         ICRA BB-     1324.8  Withdrawn
ISSUER NOT COOPERATING
Sumilon Polyester Ltd                   Fund based-CC         ICRA BB-     500     Withdrawn
ISSUER NOT COOPERATING
Svs Mookambika Constructions            LT - FBL              ICRA BB-     138
Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Svs Mookambika Constructions            Unallocated Limits    ICRA BB-/A4  152
Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Tangerine Design Pvt Ltd                LT / ST - Fund Based  ICRA BBB-    585     outstanding
                                        (SO)                  (SO) / ICRA
                                                              A3 (SO)
Tangerine Design Pvt Ltd                LT / ST – Unallocated ICRA BBB- /  200     Assigned
                                        Limits                ICRA A3
Technico (India) Pvt Ltd                Bk Fac                ICRA BB- /   350
                                                              ICRA A4
The Calcutta Medical Research           Bk Fac                ICRA A+      1000
Institute                                                     /ICRA A1
Reason for delay in carrying out periodic review: - Issuer not cooperating
Tirumala Educational Institutes         CC Limits             ICRA B+      2
Reason for delay in carrying out periodic review: Issuer not co-operating
Tirumala Educational Institutes         TL                    ICRA B+      97.4
Reason for delay in carrying out periodic review: Issuer not co-operating
Tirumala Educational Institutes         Unallocated Limits    ICRA B+      0.6
Reason for delay in carrying out periodic review: Issuer not co-operating
Uni Medicolabs                          FB Limits             ICRA BB+     250
Rating moved to the ‘Issuer Not Cooperating’ category
Vir Electro Engineering Pvt Ltd         Fund based-CC         ICRA B-      69.2
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Vir Electro Engineering Pvt Ltd         Fund based-TL         ICRA B-      123.5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Vir Electro Engineering Pvt Ltd         Fund based            ICRA B-      47.3
                                        -Unallocated
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Vs Lignite Power Pvt Ltd                BLR                   ICRA D /     3357.5
                                                              ICRA D
Reason for delay in carrying out periodic review: Issuer not co-operating
Yenkey Roller Flour Mills               LT – FB               ICRA BB+     50      Assigned
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below