March 13, 2019 / 11:24 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Mar 13

 (Repeating to add more ratings)
   Mar 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 12, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A1+     500     Outstanding
Bharti Airtel Ltd                       CP                    ICRA A1+     150000  Assigned /
                                                                                   Outstanding
Choice Boards Pvt. Ltd.                 Non-fund based        ICRA A4      30      Assigned
Evergreen Seamless Pipes &              Non fund based –      ICRA A3      219     Reaffirmed
Tubes Pvt Ltd                           BG/LOC/CEL
Ge Triveni Ltd                          Non-FB Fac            ICRA A2      1035    Reaffirmed
International Combustion                Fund based/ Non-fund  ICRA A3      0       Reaffirmed
(India) Ltd                             based (sub-limits)
Jindal Aluminium Ltd                    Non-fund              ICRA A1+     400     Reaffirmed
                                        Based-Working Capital
                                        Fac
Jindal Aluminium Ltd                    CP Programme          ICRA A1+     500     Outstanding
Mangalore Electricity Supply            Non-FBL               ICRA A2      1750    Reaffirmed
Co. Ltd
Muthoot Homefin (India) Ltd             CP Programme          ICRA A1+     5000    Reaffirmed
Reliance Asset Reconstruction           ST Bk Lines           ICRA A1@     1000    Downgraded
Co. Ltd                                                                            from ICRA A1+
@Rating watch with negative implications
Subhash Sarees Pvt Ltd                  ST – Interchangeable  ICRA A4      -       Assigned
Sundaram Finance Ltd                    CP                    ICRA A1+     60000   Outstanding
Sundaram Finance Ltd                    Short-TL from Bks     ICRA A1+     10000   Outstanding
Super Gold Suitings Pvt Ltd             ST FB                 ICRA A4+     20
(Issuer not Cooperative)


MEDIUM TERM RATINGS:
-------------------
Jindal Aluminium Ltd                    Fixed Deposit         MAA          150     Outstanding
                                        Programme
Sundaram Finance Ltd                    Fixed Deposits        MAAA         -       Outstanding

LONG TERM RATINGS:
-------------------
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A+      1000    Outstanding
Ayana Renewable Power Pvt Ltd           Unallocated           ICRA A+      1000    Outstanding
                                                              /ICRA A1+
Bangalore Electricity Supply            Issuer Rating         ICRA A-      -       Upgraded
Co. Ltd                                                                            from ICRA
                                                                                   BBB+
Bhagyanagar Chlorides Pvt Ltd           Unallocated           -            -       -
Bhagyanagar Chlorides Pvt Ltd           Fund based            ICRA BB      120     Upgraded
                                                                                   from ICRA BB-
Bharti Airtel Ltd                       Issuer Rating         ICRA AA      -       Outstanding
Bharti Airtel Ltd                       TL                    ICRA AA      46000   Outstanding
                                                                                   ICRA AA
Bharti Airtel Ltd                       Working Capital       ICRA AA      22500   Outstanding
                                        Limits (rated on LT                        ICRA AA
                                        scale)
Choice Boards Pvt. Ltd.                 CC                    ICRA B+      10      Assigned
Ess Kay Fincorp Ltd                     PTC Series A2         Provisional  11.6    Confirmed as
                                                              rating of            final
                                                              ICRA A(SO)
Ess Kay Fincorp Ltd                     PTC Series A1         Provisional  335.4   Confirmed as
                                                              rating of            final
                                                              ICRA AA(SO)
Evergreen Seamless Pipes &              FB – CC               ICRA BBB-    80      Reaffirmed
Tubes Pvt Ltd
Evergreen Seamless Pipes &              Unallocated           ICRA BBB- /  211     Reaffirmed
Tubes Pvt Ltd                                                 ICRA A3
Ge Triveni Ltd                          CC Fac                ICRA BBB+    100     Reaffirmed
International Combustion                Non-fund basedWorking ICRA BBB-    180     Reaffirmed
(India) Ltd                             Capital
International Combustion                Fund based- Working   ICRA BBB-    152.5   Reaffirmed
(India) Ltd                             Capital Fac           / ICRA A3
Jindal Aluminium Ltd                    FB -TL                ICRA AA      1150    Reaffirmed
Jindal Aluminium Ltd                    FB - Working Capital  ICRA AA      2450    Reaffirmed
                                        Fac
Mangalore Electricity Supply            Fund based - Short-TL -            -       -
Co. Ltd
Mangalore Electricity Supply            Fund based - TL       ICRA BBB+    7548.6  Reaffirmed
Co. Ltd
Mangalore Electricity Supply            Fund based - OverdraftICRA BBB+    4000    Reaffirmed
Co. Ltd
Mangalore Electricity Supply            Unallocated           ICRA BBB+    201.4   Reaffirmed
Co. Ltd                                                       / ICRA A2
Muthoot Homefin (India) Ltd             LT FB Bk Lines        ICRA AA-     1250    Reaffirmed
Muthoot Homefin (India) Ltd             LT FB Bk Lines        ICRA AA-     0       Withdrawn
Muthoot Homefin (India) Ltd             NCD Programme         ICRA AA-     0       Withdrawn
Northern Arc Capital Ltd                PTC Series A1         Provisional  205.2   Assigned
-Northern Arc 2019 Mosec Cien                                 ICRA A(SO)
Northern Arc Capital Ltd                PTC Series A2         Provisional  10.8    Assigned
-Northern Arc 2019 Mosec Cien                                 ICRA BBB(SO)
Rajapushpa Properties Pvt Ltd           Unallocated           -            -       -
Rajapushpa Properties Pvt Ltd           Fund based - TL       ICRA BBB-    4075    Reaffirmed
Rajasthan Vikas Sansthan                BLR                   ICRA BB      242.5   Upgraded
                                                                                   from ICRA BB-
Reliance Asset Reconstruction           LT Debt Programme     ICRA A@      2000    Downgraded
Co. Ltd                                                                            from ICRA A+
@Rating watch with negative implications
Somatheeram Ayurvedic Hospital          LT – FB – CC          ICRA BB+     22.5    Reaffirmed
And Yoga Centre Pvt Ltd
Somatheeram Ayurvedic Hospital          LT – FB – TL          ICRA BB+     100     Reaffirmed
And Yoga Centre Pvt Ltd
Somatheeram Ayurvedic Hospital          LT - Unallocated      ICRA BB+     27.5    Reaffirmed
And Yoga Centre Pvt Ltd
Subhash Sarees Pvt Ltd                  LT – FB TL            ICRA BB      15      Assigned
Subhash Sarees Pvt Ltd                  LT – Fund Based/CC    ICRA BB      220     Assigned
Sundaram Finance Ltd                    NCDs (NCD)            ICRA AAA     10000   Assigned
Sundaram Finance Ltd                    FBL from Bks          ICRA AAA     30000   Outstanding
Sundaram Finance Ltd                    Long-TL from Bks      ICRA AAA     31250   Outstanding
Sundaram Finance Ltd                    Non-FBL from Bks      ICRA AAA     80.8    Outstanding
Sundaram Finance Ltd                    NCDs#                 ICRA AAA     57400   Outstanding
# NCDs Outstanding as on November 24, 2018
Sundaram Finance Ltd                    Subordinated          ICRA AAA     17571   Outstanding
                                        Debentures
Super Gold Suitings Pvt Ltd             LT FB/ CC             ICRA BB+     210
(Issuer not Cooperative)
Super Gold Suitings Pvt Ltd             LT FB/TL              ICRA BB+     490
(Issuer not Cooperative)
--------------------------------------------------------------------------------------------
$: 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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