June 26, 2018 / 11:26 AM / 5 months ago

RPT-ICRA ratings for Indian debt instruments-Jun 26

 (Repeating to add more ratings)
    Jun 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 25, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Atul Motors Pvt Ltd                     ST, Non-fund based    ICRA A2      160     Reaffirmed
Diach Chemicals & Pigments Pvt          Non-FB limit          ICRA A4      20
Ltd
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Hcl Comnet Ltd                          ST Non-FB Fac         ICRA A1+     953.3   Reaffirmed
Kantilal Chhotalal                      Bk Fac                ICRA A2      280
Reason for delay in carrying out periodic review - Review Process is underway
Kuna Impex Pvt. Ltd.                    Non-FBL Type of       ICRA A4      45      Withdrawn
(ISSUER NOT COOPERATING)
Mms Infratech Pvt Ltd                   BG                    ICRA A4      360     Withdrawn
Narain & Company                        Non-fund Based        ICRA A4+     350     Upgraded
                                                                                   from ICRA A4
Oil And Natural Gas                     CP Programme          ICRA A1+     100000  Assigned
Corporation Ltd
Rasi Seeds Pvt Ltd                      ST: FBL               ICRA A1+     550
Reason for delay in carrying out periodic review: - Review process is underway
Rasi Seeds Pvt Ltd                      ST: Interchangeable   ICRA A1+     0
Reason for delay in carrying out periodic review: - Review process is underway
S &Ib Services Pvt Ltd                  Non-fund based – BG   ICRA A2+     340
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Fund based – Standby  ICRA A3      10
Sarthak Metals Marketing Pvt            Line of Credit (SLC)
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Non-fund based – LOC  ICRA A3      55
Sarthak Metals Marketing Pvt
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Non-fund based – BG   ICRA A3      2.5
Sarthak Metals Marketing Pvt
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Non-fund based –      ICRA A3      10
Sarthak Metals Marketing Pvt            Credit Exposure Limit
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Skm Animal Feeds And Foods              ST non-fund based     ICRA A2+     -       Reaffirmed -
(India) Pvt Ltd                         (sublimit)                                 -
Sri Dhanalakshmi Cotton & Rice          Non-FBL- BG/LC        ICRA A2+     80      downgraded
Mills Pvt Ltd                                                                      from ICRA A1
Sowbhagya Polymers Ltd                  ST-NonFund based      ICRA A4      110
Reason for delay in carrying out periodic review: Issuer not cooperating
Windlas Biotech Pvt Ltd                 ST non-Fund Based     ICRA A2+     20
Reason for delay in carrying out periodic review: Review process is underway

LONG TERM RATINGS:
-------------------
Atul Motors Pvt Ltd                     Long-TL               ICRA BBB     89.4    Reaffirmed
Atul Motors Pvt Ltd                     LT, FB-CC             ICRA BBB     180     Reaffirmed
Atul Motors Pvt Ltd                     LT / ST, fund         ICRA BBB     1000    Reaffirmed
                                        basedInventory funding/ICRA A2
Atul Motors Pvt Ltd                     LT / ST-Unallocated   ICRA BBB     11.6    Reaffirmed
                                                              /ICRA A2
B.V.Bio-Corp Pvt Ltd                    Bk Loan Rating        ICRA A-      861.1
                                                              /ICRA A2+
Reason for delay in carrying out periodic review-- Surveillance process is underway
Basix Sub-K Itransactions Ltd           Fund based CC limits  ICRA BB      80      Upgraded
                                                                                   from ICRA
                                                                                   BB-@
@ denotes watch with negative implications
Chowgule Industries Pvt Ltd             BLR                   ICRA A/ICRA  530.6
                                                              A1
Reason for delay in carrying out periodic review: - Review process is underway
Dcr Infra                               FB limits             ICRA B+      65
Reason for delay in carrying out periodic review - Issuer Not Co-operating
Devang Paper Mills Pvt Ltd              CC limits             ICRA BB-     65
Reason for delay in carrying out periodic review - Issuer Not Co-operating
Devang Paper Mills Pvt Ltd              Unallocated limits    ICRA BB-     30
Reason for delay in carrying out periodic review - Issuer Not Co-operating
Diach Chemicals & Pigments Pvt          FB limit              ICRA BB-     120
Ltd
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Flemingo Travel Retail Ltd              TL                    ICRA BBB+    2350
(Erstwhile Dfs India Pvt Ltd)
placed on rating watch with developing implications
Flemingo Travel Retail Ltd              LT/ShortTerm, Fund    ICRA         750
(Erstwhile Dfs India Pvt Ltd)           Based/ Non-FBL        BBB+/ICRA A2
placed on rating watch with developing implications
Great Galleon Ventures Ltd              LT – FB – Proposed TL ICRA BBB+    500     Assigned
Gsj Envo Ltd                            Fund Based            ICRA B+      120
Reaffirmed and removed from the ‘(ISSUER NOT COOPERATING)’ category
Gsj Envo Ltd                            Non-fund Based        ICRA B+      700
Reaffirmed and removed from the ‘(ISSUER NOT COOPERATING)’ category
Gsj Envo Ltd                            Unallocated           ICRA B+      30
Reaffirmed and removed from the ‘(ISSUER NOT COOPERATING)’ category
Hcl Comnet Ltd                          LT FB Fac             -            -       -
Hcl Comnet Ltd                          LT/ST Fund            ICRA AA /    3250    Reaffirmed
                                        based/NonFB Fac       ICRA A1+
Hindustan Pressings Pvt Ltd             LT - FBL              ICRA BB-     98.4
Reason for delay in carrying out periodic review - Issuer delayed in giving information
Hindustan Pressings Pvt Ltd             LT/ST – Unallocated   ICRA BB- /   1.6
                                                              ICRA A4
Reason for delay in carrying out periodic review- Issuer delayed in giving information
Jak Associates                          LT Fund based         ICRA BB-     34.6
Reason for delay in carrying out periodic review: Issuer not cooperating
Jak Associates                          LT Unallocated        ICRA BB-     35.4
Reason for delay in carrying out periodic review: Issuer not cooperating
Kuna Impex Pvt. Ltd.                    CC                    ICRA B+      54.8    Withdrawn
(ISSUER NOT COOPERATING)
Kuna Impex Pvt. Ltd.                    CC                    ICRA B+      54.8    Withdrawn
(ISSUER NOT COOPERATING)
Lexus Granito (India) Ltd               NCD                   ICRA BB-     -
Lexus Granito (India) Ltd               NCD                   ICRA BB-     -
Mahamaya Cashew Industries              LT Fund based         ICRA B       68
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Mahamaya Cashew Industries              LT Unallocated        ICRA B       12
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Mantra Properties And                   Proposed Limits – LT  ICRA BBB-    125     Assigned
Developers Pvt Ltd
Max Infra (I) Ltd (Erstwhile            Fund based –          ICRA A-      1100    Upgraded
Uan Max Infra Ltd)                      Cash Credit                                from ICRA
                                                                                   BBB+
Max Infra (I) Ltd (Erstwhile            Unallocated Limits    ICRA A-      100     Upgraded
Uan Max Infra Ltd)                                                                 from ICRA
                                                                                   BBB+
Max Infra (I) Ltd (Erstwhile            Non fund based – BG   ICRA A-      5500    Upgraded
Uan Max Infra Ltd)                                            /ICRA A2+            from ICRA
                                                                                   BBB+/ICRA A2
Mms Infratech Pvt Ltd                   TL                    ICRA BB-     18.7    Withdrawn
Mms Infratech Pvt Ltd                   CC                    ICRA BB-     70      Withdrawn
Mms Infratech Pvt Ltd                   Unallocated Limits    ICRA BB-     53.4    Withdrawn
Narain & Company                        CC                    ICRA BB      500     Upgraded
                                                                                   from ICRA BB-
Nnb Engineers Pvt Ltd                   Fund based – CC       ICRA B+      10
(Erstwhile Nav Nirman Builders
And Developers Pvt Ltd)
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Nnb Engineers Pvt Ltd                   Non-fund based – BG   ICRA B+      100
(Erstwhile Nav Nirman Builders
And Developers Pvt Ltd)
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Nnb Engineers Pvt Ltd                   Unallocated limit     ICRA B+      90
(Erstwhile Nav Nirman Builders
And Developers Pvt Ltd)
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Ojas Mall Management Pvt Ltd            Bk Fac                ICRA BB-     800
Reason for delay in carrying out periodic review:- Review process is underway
Om Trading Company                      Fund Based – CC       ICRA B-      49.5
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Paramount Wheels Pvt Ltd                Fund Based – CC       ICRA B+      130
Rating continues to remain in the ‘(ISSUER NOT COOPERATING)’ category
Paramount Wheels Pvt Ltd                Fund Based – Adhoc    ICRA B+      25
                                        Limit
Rating continues to remain in the ‘(ISSUER NOT COOPERATING)’ category
Paramount Wheels Pvt Ltd                Fund Based – Drop     ICRA B+      27.5
                                        line optionally
                                        convertible debenture
Rating continues to remain in the ‘(ISSUER NOT COOPERATING)’ category
Paramount Wheels Pvt Ltd                Unallocated           ICRA B+      72.5
Rating continues to remain in the ‘(ISSUER NOT COOPERATING)’ category
Rasi Seeds Pvt Ltd                      LT: TL                ICRA A+      135
Reason for delay in carrying out periodic review: - Review process is underway
Rasi Seeds Pvt Ltd                      LT: FBL               ICRA A+      1200
Reason for delay in carrying out periodic review: - Review process is underway
Rasi Seeds Pvt Ltd                      LT: Non fund based    ICRA A+      30
Reason for delay in carrying out periodic review:- Review process is underway
Rasi Seeds Pvt Ltd                      LT: Unallocated       ICRA A+      102.4
Reason for delay in carrying out periodic review:- Review process is underway
Rayani Spintex Pvt Ltd                  CC                    ICRA B       50
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Rayani Spintex Pvt Ltd                  TL                    ICRA B       144
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Rayani Spintex Pvt Ltd                  BG                    ICRA B       6
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Rayani Spintex Pvt Ltd                  Unallocated Limits    ICRA B       160
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Sharma Cars Pvt Ltd                     FB limits             ICRA B+      343.7
Reason for delay in carrying out periodic review - Review Process is underway
Sharma Cars Pvt Ltd                     Unallocated limits    ICRA B+ /A4  13.2
Reason for delay in carrying out periodic review - Review Process is underway
Sowbhagya Polymers Ltd                  LT CC                 ICRA BB      65
Reason for delay in carrying out periodic review: Issuer not cooperating
Sowbhagya Polymers Ltd                  LT/Shortterm          ICRA BB /A4  45
                                        Unallocated
Reason for delay in carrying out periodic review: Issuer not cooperating
S& Ib Services Pvt Ltd                  Fund based – TL       ICRA BBB+    20
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
S& Ib Services Pvt Ltd                  Fund based – CC       ICRA BBB+    120
Rating moved to the ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Fund based – CC       ICRA BBB-    160
Sarthak Metals Marketing Pvt
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Sarthak Metals Ltd (Erstwhile           Fund based – TL       ICRA BBB-    1.7
Sarthak Metals Marketing Pvt
Ltd)
Rating continues to remain under ‘(ISSUER NOT COOPERATING)’ category
Skm Animal Feeds And Foods              LT: FB -TL            ICRA A-      500     Upgraded
(India) Pvt Ltd                                                                    from ICRA
                                                                                   BBB+/
Skm Animal Feeds And Foods              LT/ ST fund based     ICRA         1900    Upgraded
(India) Pvt Ltd                                               A-/ICRA A2+          from ICRA
                                                                                   BBB+ /
                                                                                   Reaffirmed
Skm Animal Feeds And Foods              Unallocated Limits    ICRA         580     Upgraded
(India) Pvt Ltd                                               A-/ICRA A2+          from ICRA
                                                                                   BBB+/
                                                                                   Reaffirmed
Skm Animal Feeds And Foods              ST FB                 -            -       -
(India) Pvt Ltd
Skm Animal Feeds And Foods              ST non-fund based     -            -       -
(India) Pvt Ltd
Sri Dhanalakshmi Cotton & Rice          Fund based- CC        ICRA A-      835     Reaffirmed
Mills Pvt Ltd
Sri Dhanalakshmi Cotton & Rice          Fund based – TL       ICRA A-      295     Reaffirmed
Mills Pvt Ltd
Sri Dhanalakshmi Cotton & Rice          Unallocated Limits    ICRA A-      8.4     Reaffirmed
Mills Pvt Ltd
Vamsi Pharma Pvt Ltd                    LT - FBL              ICRA B+      140.5
Reason for delay in carrying out periodic review- Issuer delayed in giving information
Vijay Ganga Speciality Care             TL                    ICRA B       140     Withdrawn
Pvt Ltd
Vijay Ganga Speciality Care             Unallocated facility  ICRA B       160     Withdrawn
Pvt Ltd
Windlas Biotech Pvt Ltd                 TL                    ICRA A-      330.4
Reason for delay in carrying out periodic review: Review process is underway
Windlas Biotech Pvt Ltd                 CC                    ICRA A-      270
Reason for delay in carrying out periodic review: Review process is underway
Windlas Biotech Pvt Ltd                 LT/ST FBL             ICRA A- /A2+ 233
Reason for delay in carrying out periodic review: Review process is underway
Windlas Biotech Pvt Ltd                 Unallocated Limits    ICRA A-/A2+  234.6
Reason for delay in carrying out periodic review: Review process is underway
--------------------------------------------------------------------------------------------
$: 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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