June 12, 2018 / 3:42 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Jun 11

 (Repeating to add additional ratings as of June 8, 2018)
    Jun 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 08, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharat Seats Ltd                        ST: Non-Fund Based    ICRA A2+     200     Reaffirmed
Everlast Roofing                        ST –Non fund based    ICRA A4      70      -
(Reason for delay in carryingout periodic review:Issuer delayed in giving information)
Franklin Templeton Asset                Franklin India Liquid ICRA A1+mfs  -       Reaffirmed
Management (India) Pvt Ltd              Fund
-Franklin India Liquid Fund
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2+     -       Reaffirmed
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2+     900     Reaffirmed
Hyundai Steel India Pvt Ltd             FB Fac                ICRA A3+     -       Reaffirmed
India Infoline Finance Ltd              CP programme          ICRA A1+     150000  Assigned
India Infoline Finance Ltd              CP programme (IPO     ICRA A1+     50000   Outstanding
                                        financing)
Jaideep Ispat & Alloys Pvt Ltd          Non-fund Based        ICRA A2+     662.6   Upgraded
                                                                                   from ICRA A2
Jbm Auto Ltd                            NFBL                  ICRA A3+ &   545     Reaffirmed
& On Rating Watchwith Developing Implications
Jet Airways (India) Ltd                 ST, Non-FB Fac        ICRA A4+     39500   Outstanding
Kherani Paper Mills Pvt Ltd             LOC                   ICRA A4+     80      Downgraded
                                                                                   from ICRA A3
Kirby Building Systems India            NFBL                  ICRA A1+     3120    Reaffirmed
(Uttaranchal) Pvt. Ltd
Kirby Building Systems India            NFBL                  ICRA A1+     3140    Reaffirmed
Pvt Ltd
Lahoti Overseas Ltd                     ST, FB Limit          ICRA A3+     1010    Reaffirmed
Lunar Ceramics                          Non-fund Based –BG    ICRA A4      6.5     Assigned
Mahindra Cie Automotive Ltd             CP                    ICRA A1+     500     -
(Reason for delay in carrying out periodic review:-Review process is underway)
Mcleod Russel India Ltd                 Non-FB Bk Fac         ICRA A1+     188     Reaffirmed
(Reaffirmed and Placed Under rating watch with developing implications)
Mcleod Russel India Ltd                 CP Programme          ICRA A1+     3000    Reaffirmed
(Reaffirmed and Placed Under rating watch with developing implications)
Oswal Woollen Mills Ltd                 CP                    ICRA A1+     2500    Reaffirmed
Oswal Woollen Mills Ltd                 ST Non-FB             ICRA A1+     1260    Reaffirmed
Oswal Woollen Mills Ltd                 ST FB/Non-FB          ICRA A1+     250     Reaffirmed
Rashtriya Chemicals And                 CP Programme          ICRA A1+     10000   Reaffirmed
Fertilizers Ltd
Sri Narasus Coffee Company Pvt          ST: FBL               ICRA A1      275     Upgraded
Ltd                                                                                from ICRA A2+
Sri Narasus Coffee Company Pvt          ST: Interchangeable   ICRA A1      -       Upgraded
Ltd                                     limits                                     from ICRA A2+
Sri Narasus Coffee Company Pvt          Unallocated limits    ICRA A1      120     Upgraded
Ltd                                                                                from ICRA A2+
Star Cement Ltd                         LOC/BG                ICRA A1+     580     Reaffirmed
Star Cement Ltd                         CP                    ICRA A1+     500     Reaffirmed
Meghalaya Power Ltd                     LOC/BG                ICRA A1+     70      Reaffirmed
Star Cement Meghalaya Ltd               LOC/BG                ICRA A1+     100     Reaffirmed



LONG TERM RATINGS:
-------------------
Bharat Seats Ltd                        LT: FB-CC             ICRA A-      352     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Bharat Seats Ltd                        LT: FB-TL             ICRA A-      131.1   Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Bharat Seats Ltd                        LT/ ST: Unallocated   ICRA A-/ A2+ 1.9     Upgraded
                                        Limits                                     from ICRA
                                                                                   BBB+ /
                                                                                   Reaffirmed  
Deccan Cements Ltd                      TL                    ICRA A       34.4    Withdrawn
Deccan Cements Ltd                      Unallocated Limits    ICRA A       5.6     Withdrawn
Everlast Roofing                        LT-Fund based –CC     ICRA BB-     20      -
(Reason for delay in carryingout periodic review:Issuer delayed in giving information)
Hyundai Steel India Pvt Ltd             FB sub-limits         ICRA A- /    -       Reaffirmed
                                                              A2+
India Infoline Finance Ltd              Subordinate Debt      ICRA AA      10000   Outstanding
                                        programm
India Infoline Finance Ltd              LT Bk Lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Jaideep Ispat & Alloys Pvt Ltd          FB –CC                ICRA A-      640     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Jaideep Ispat & Alloys Pvt Ltd          FB –TL                ICRA A-      780     Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Jaideep Ispat & Alloys Pvt Ltd          Unallocated           ICRA A-      17.4    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Jbm Auto Ltd                            TL                    ICRA BBB &   553.1   Reaffirmed
& On Rating Watchwith Developing Implications
Jbm Auto Ltd                            Unallocated           ICRA BBB &   5.6     Reaffirmed
& On Rating Watchwith Developing Implications
Jbm Auto Ltd                            CC/WCDL               ICRA BBB &   1147.5  Reaffirmed
                                                              / A3+ &
& On Rating Watchwith Developing Implications
Jbm Auto Ltd                            Fund based & NFBL     ICRA BBB &   1992.5  Reaffirmed
                                                              / A3+ &
& On Rating Watchwith Developing Implications
Jbm Auto Ltd                            Fund Based/Non-Fund   ICRA BBB &   -       Reaffirmed
                                        Based sublimits^      / A3+ &
& On Rating Watchwith Developing Implications
Jet Airways (India) Ltd                 NCD Programme         ICRA BB+     6989    Outstanding
Jet Airways (India) Ltd                 Long-TL               ICRA BB+     28200   Outstanding
Jet Airways (India) Ltd                 Long-TL               ICRA BB+     -       Withdrawn
Jet Airways (India) Ltd                 Long-TL               ICRA BB+     21500   Assigned
Jet Airways (India) Ltd                 LT, FB Fac            ICRA BB+     6450    Outstanding
Jet Airways (India) Ltd                 LT, Non-fund Based    ICRA BB+     7000    Outstanding
                                        Facilies
Kherani Paper Mills Pvt Ltd             TL                    ICRA BB+     128.5   Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Kherani Paper Mills Pvt Ltd             CC                    ICRA BB+     120     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Kirby Building Systems India            Fund Based CC Limits  ICRA AA-     110     Upgraded
(Uttaranchal) Pvt. Ltd                                                             from ICRA A+
Kirby Building Systems India            Fund Based CC Limits  ICRA AA-     130     Upgraded
Pvt Ltd                                                                            from ICRA A+
Kirby Building Systems India            Unallocated Limits    ICRA AA-     30      Upgraded
Pvt Ltd                                                       /A1+                 from ICRA A+
                                                                                   / Reaffirmed
Lahoti Overseas Ltd                     LT, FB Limit          ICRA BBB     50      Reaffirmed
(Outlook revised to Negative from Stable)
Lahoti Overseas Ltd                     LT & ST Unallocated   ICRA BBB /   14.5    Reaffirmed
                                        Limits                A3+
(Outlook revised to Negative from Stable)
Lunar Ceramics                          FB –TL                ICRA B+      25.1    Assigned
Lunar Ceramics                          FB –CC                ICRA B+      25      Assigned
Maharashtra Transmission                FB-TL                 ICRA BBB-    550     Reaffirmed
Communication Infrastructure
Limite
Mahindra Cie Automotive Ltd             Fund Based Bk Fac     ICRA AA- /   2950    -
                                                              A1+
(Reason for delay in carrying out periodic review:-Review process is underway)
Mcleod Russel India Ltd                 TL                    ICRA AA-     3600    Downgraded
                                                                                   from ICRA AA
(placed Under rating watch with developing implication)
Mcleod Russel India Ltd                 FB Bk Fac             ICRA AA-     6000    Downgraded
                                                                                   from ICRA AA
(placed Under rating watch with developing implication)
Mcleod Russel India Ltd                 FB Bk Fac**           ICRA AA-     2000    Downgraded
                                                                                   from ICRA
                                                                                   AA/A1+
(Reaffirmed and Placed Under rating watch with developing implications) 
(**Fungible with LT facilities)
Oswal Woollen Mills Ltd                 LT FB CC              ICRA A+      3500    Reaffirmed
Oswal Woollen Mills Ltd                 LT FB TL              ICRA A+      1553.2  Reaffirmed
Oswal Woollen Mills Ltd                 LT Non-FB             ICRA A+      20      Reaffirmed
Oswal Woollen Mills Ltd                 Unallocated           ICRA A+      1023.6  Reaffirmed
Oswal Woollen Mills Ltd                 LT/ST Non-FB          ICRA A+ /    120     Reaffirmed
                                                              A1+
Raichur Laboratories Pvt. Ltd           Longterm -FBL         ICRA B+      150     Downgraded
                                                                                   to ICRA D
(Issuer not cooperating)
Raichur Laboratories Pvt. Ltd           Longterm-Unallocated  ICRA B+      50      Downgraded
                                        limits                                     to ICRA D
(Issuer not cooperating)
Rashtriya Chemicals And                 Bk Fac                ICRA AA      51000   Reaffirmed
Fertilizers Ltd
Rashtriya Chemicals And                 NCD                   ICRA AA      5000    Reaffirmed
Fertilizers Ltd
Sri Narasus Coffee Company Pvt          LT: FB limits         ICRA A-      75      Reaffirmed
Ltd
Star Cement Ltd                         TL                    ICRA A+      147     Upgraded
                                                                                   from ICRA A+
Star Cement Ltd                         CC                    ICRA AA-     2190    Upgraded
                                                                                   from ICRA A+
Svr Electricals Pvtltd                  BLR                   ICRA B / A4  250     -
(Moved to the ISSUER NOT COOPERATING category due to non-submission of monthly No Default
Statement)
The Clearing Corporation Of             Issuer Rating         ICRA AAA     -       Reaffirmed
India Ltd
Vijay Transformers                      BLR                   ICRA B- / A4 120     -
(Moved to the ISSUER NOT COOPERATING category due to non-submission of monthly No Default
Statement)
Vijayanagar Sugar Pvt Ltd               FB -TL                ICRA D       3161.1  Reaffirmed
Vijayanagar Sugar Pvt Ltd               FB -CC                ICRA D       583.3   Reaffirmed
Vijayanagar Sugar Pvt Ltd               Non-fund Based–LOC/BG ICRA D       428.6   Reaffirmed
Vijayanagar Sugar Pvt Ltd               Unallocated Limits    ICRA D       1327    Reaffirmed
Meghalaya Power Ltd                     CC                    ICRA AA-     280
Upgraded from ICRA A+
Meghalaya Power Ltd                     TL                    ICRA AA-     464.4
Upgraded from ICRA A+
Sahuwala Cylinders Pvt Ltd              BLR                   ICRA BB-     350
Issuer not cooperating; – Issuer delayed in giving information
Star Cement Meghalaya Ltd               CC                    ICRA AA-     1100
Upgraded from ICRA A+
Star Cement Meghalaya Ltd               TL                    ICRA AA-     102.7
Upgraded from ICRA A+
Vikas Cotex                             CC                    ICRA B       123.5
Issuer not cooperating
Vikas Cotex                             TL                    ICRA B       17.5
Issuer not cooperating
Vikas Cotex                             Unallocated Limits    ICRA B       59
Issuer not cooperating


--------------------------------------------------------------------------------------------
$: 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