March 25, 2019 / 11:11 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Mar 25

 (Repeating to add more ratings.)
    Mar 25 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 22, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adh Chemicals Pvt Ltd                   Non-Fund based –      ICRA A4      35      Assigned
                                        Import LOC
Adh Chemicals Pvt Ltd                   Non-Fund based –      ICRA A4      35      Assigned
                                        Forward Contract
Aditya Birla Retail Ltd                 ST, FB Fac            ICRA A2+     21533.1
continues on watch with developing implications
Aditya Birla Retail Ltd                 ST, Non-FB Fac        ICRA A2+     831.9
continues on watch with developing implications
Admin Vitrified Pvt. Ltd.               Non-fund Based - BG   ICRA A4      20      Reaffirmed
B Fouress (P) Ltd                       Non-fund Based -      ICRA A2      1030    Reaffirmed
                                        Working Capital Fac
Desai Infrastructure Pvt. Ltd.          Non-fund Based - BG   ICRA A4      55      Reaffirmed
Grasim Industries Ltd                   CP Programme          ICRA A1+     17500   outstanding
Gulabdas & Co.                          ST FBL                ICRA A4+     300     Reaffirmed
Gulabdas & Co.                          Unallocated limit     ICRA A4+     100     Reaffirmed
Hdfc Asset Management Co. Ltd           HDFC Overnight Fund   ICRA A1+mfs  -       Assigned
Hdfc Asset Management Co. Ltd           HDFC Ultra ST Fund    ICRA A1+mfs  -       Assigned
Hdfc Asset Management Co. Ltd           HDFC Fixed Maturity   ICRA A1+mfs  -       Withdrawn
                                        Plan 97D May 2018 (1)
                                        Series 40
Hdfc Asset Management Co. Ltd           HDFC Floating Rate    ICRA A1+mfs  -       outstanding
                                        Debt Fund
Hdfc Asset Management Co. Ltd           HDFC Liquid Fund      ICRA A1+mfs  -       outstanding
Hdfc Asset Management Co. Ltd           HDFC Money Market FundICRA A1+mfs  -       outstanding
Indraprastha Medical                    Non-FBL               ICRA A1+     405     Reaffirmed
Corporation Ltd
Indraprastha Medical                    CP Programme          ICRA A1+     400     Reaffirmed
Corporation Ltd
Jaina Mobile India Pvt Ltd              ST- Unallocated       ICRA A3+     200     Withdrawn
Madras Fertilizers Ltd                  ST, Non FB Fac        ICRA A4      3300    Reaffirmed
Mahesh Electrical & Telecom             ST, Non FB            ICRA A4      35      Assigned
Milltec Machinery Pvt Ltd               ST: Non-FB Fac        ICRA A1+     306.8   Unchanged
Neogrowth Credit Pvt Ltd                CP Programme          ICRA A2      400     outstanding
P. Dasaratharama Reddy                  ST Non Fund based     ICRA A4      80
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Pragati Transmission Pvt Ltd            ST- Non FB Fac        ICRA A4      5
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Satya Microcapital Ltd.                 CP                    ICRA A3              outstanding
Savex Technologies Pvt Ltd              CP                    ICRA A1+     500     outstanding
Shilpa Medicare Ltd                     ST FBL                ICRA A1      250     Reaffirmed
Shilpa Medicare Ltd                     ST Non-FBL            ICRA A1      150     Reaffirmed
Suryalakshmi Cotton Mills Ltd           ST FB Limits          ICRA A3      180
Downgraded from ICRA A3+; rating placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd           ST Non-FB Limits      ICRA A3      708.8
Downgraded from ICRA A3+; rating placed on watch with negative implications
Wheels India Ltd                        CP                    ICRA A1+     1000    Reaffirmed
Wheels India Ltd                        ST -Non-FB Fac        ICRA A1+     1500    Reaffirmed
Wil Car Wheels Ltd                      ST – FB Fac           ICRA A1      450     Reaffirmed
Indian Potash Ltd                       ST: Non FB Fac        ICRA A1+     65400   Reaffirmed
Indian Potash Ltd                       ST: CP                ICRA A1+     8000    Reaffirmed
Indian Potash Ltd                       ST: Proposed Fac      ICRA A1+     4100    Reaffirmed
Ultra Dimensions Pvt Ltd                Non Fund Based – BG   ICRA A4      200     Assigned

MEDIUM TERM RATINGS:
-------------------
Wheels India Ltd                        Medium Term: Fixed    MA+          1500    Reaffirmed
                                        deposit

LONG TERM RATINGS:
-------------------
Adh Chemicals Pvt Ltd                   FB – CC               ICRA B+      10      Assigned
Adh Chemicals Pvt Ltd                   Untied Limits         ICRA B+ /A4  20      Assigned
Aditya Birla Retail Ltd                 Long-TL               ICRA A-      15155
continues on watch with developing implications
Aditya Birla Retail Ltd                 LT / ST Unallocated   ICRA A- /    2480
                                                              ICRA A2+
continues on watch with developing implications
Admin Vitrified Pvt. Ltd.               FB - TL               ICRA B+      200     Reaffirmed
Admin Vitrified Pvt. Ltd.               FB - CC^              ICRA B+      80      Reaffirmed
^Export bill negotiation (EBN) limit of Rs. 1.85 crore as a sublimit of the cash credit limit
Au Small Finance Bank Ltd-              PTC Series A          ICRA AA (SO) -       Reaffirmed
India Standard Loan Trust Xxix
Au Small Finance Bank Ltd-              Liquidity Facility    ICRA AAA     -       Reaffirmed
India Standard Loan Trust Xxix                                (SO)
Au Small Finance Bank Ltd-              Second Loss Facility  ICRA BBB     -       Reaffirmed
India Standard Loan Trust Xxix                                (SO)
Au Small Finance Bank Ltd-              PTC Series A          ICRA AA (SO) -       Reaffirmed
India Standard Loan Trust
Xxviii
Au Small Finance Bank Ltd-              Liquidity Facility    ICRA AAA     -       Reaffirmed
India Standard Loan Trust                                     (SO)
Xxviii
Au Small Finance Bank Ltd-              Second Loss Facility  ICRA BBB     -       Reaffirmed
India Standard Loan Trust                                     (SO)
Xxviii
Au Small Finance Bank Ltd-              PTC Series A          ICRA AAA     -       Reaffirmed
India Standard Loan Trust Xxx                                 (SO)
Au Small Finance Bank Ltd-              Liquidity Facility    ICRA AAA     -       Reaffirmed
India Standard Loan Trust Xxx                                 (SO)
Au Small Finance Bank Ltd-              Second Loss Facility  ICRA BBB     -       Reaffirmed
India Standard Loan Trust Xxx                                 (SO)
B Fouress (P) Ltd                       FB - Working Capital  ICRA BBB     40      Reaffirmed
                                        Fac
B Fouress (P) Ltd                       Unallocated           ICRA BBB     350     Reaffirmed
                                                              /ICRA A2
Creditaccess Grameen Ltd-               PTC Series A          ICRA A(SO)   1489.4  Withdrawn
Northern Arc 2018 Mfi Attock
Desai Infrastructure Pvt. Ltd.          FB - CC               ICRA B+      45      Reaffirmed
Dhfl Pramerica Asset Managers           DHFL Pramerica Medium ICRA A+mfs@  -
Pvt Ltd                                 Term Fund
rating downgraded from ICRA AA+mfs@ and rating withdrawn; @Under rating watch with negative
implications
Dhfl Pramerica Asset Managers           DHFL Pramerica Ultra  ICRA AA+mfs@ -
Pvt Ltd                                 ST Fund
rating downgraded from ICRA AAAmfs; @placed on rating watch with negative implications and put
on notice for withdrawal for 1 month
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -
Pvt Ltd                                 Floating Rate Fund
put on notice for withdrawal for 1 month
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Dynamic Bond Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica Insta  ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Cash Plus Fund -
Dhfl Pramerica Asset Managers           DHFL Pramerica Bking  ICRA AAAmfs  -       outstanding
Pvt Ltd                                 and PSU - Debt Fund
Dhfl Pramerica Asset Managers           DHFL Pramerica        ICRA AAAmfs  -       outstanding
Pvt Ltd                                 Premier Bond Fund -
Dhfl Pramerica Asset Managers           DHFL Pramerica Short  ICRA AAmfs@  -
Pvt Ltd                                 Maturity Fund
rating downgraded from ICRA AA+mfs; @placed on rating watch with negative implications and put
on notice for withdrawal for 1 month
Grasim Industries Ltd                   NCD Programme         ICRA AAA     20000   outstanding
Hdfc Asset Management Co. Ltd           HDFC Low Duration FundICRA AA+mfs  -       outstanding
Hdfc Asset Management Co. Ltd           HDFC Corporate Bond   ICRA AAAmfs  -       outstanding
                                        Fund
Hdfc Asset Management Co. Ltd           HDFC ST Debt Fund     ICRA AAAmfs@ -       outstanding
@ denotes under Rating Watch with Negative Implications
Hdfc Asset Management Co. Ltd           HDFC Bking and PSU    ICRA AA-mfs@ -       outstanding
                                        Debt Fund
@ denotes under Rating Watch with Negative Implications
Hero Realty Pvt Ltd                     NCD Programme         ICRA A+      1000    Withdrawn
(Earstwhile Hero Realty Ltd)                                  (SO)
Hpcl Shapoorji Energy Pvt Ltd           Fund based- TL        ICRA A       30100   Reaffirmed
Ina Elite Hospitality Pvt Ltd           Fund based – TL       ICRA B       100
Rating continues to remain in the ‘Issuer Not Cooperating’ category
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 260.2   Reaffirmed
Robust Cv Trust Aug 2016
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 518.7   Reaffirmed
Robust Cv Trust Dec 2016
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 492.4   Reaffirmed
Robust Cv Trust Dec 2017
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 404.8   Reaffirmed
Robust Cv Trust Jun 2017
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 1354.7  Reaffirmed
Robust Cv Trust June 2018
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 307.7   Reaffirmed
Robust Cv Trust Mar 2017
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 1126.1  Reaffirmed
Robust Cv Trust March 2018
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 3996    Reaffirmed
Robust Cv Trust Oct 2018
India Infoline Finance Ltd-             PTC Series A          ICRA AAA(SO) 503.8   Reaffirmed
Solitaire Cv - 1 Trust Sept
2017
Indraprastha Medical                    FBL                   ICRA AA      400     Reaffirmed
Corporation Ltd
Indraprastha Medical                    Unallocated Limits    ICRA AA      195     Reaffirmed
Corporation Ltd
Jain Sons Finlease Ltd                  NCD programme         ICRA BBB-    250     Withdrawn
                                                              (Negative)
Jaina Mobile India Pvt Ltd              LT fund based         ICRA BBB     400     Withdrawn
                                                              (Negative)
Jawahar Shetkari Sahakari               LT - Fund Based – TL  ICRA BBB-    630.4   Reaffirmed
Sakhar Karkhana Ltd
outlook revised from Stable to Negative
Jawahar Shetkari Sahakari               LT - Fund Based/ CC   ICRA BBB-    7760    Reaffirmed
Sakhar Karkhana Ltd
outlook revised from Stable to Negative
Kalyani Techpark Pvt Ltd                Fund Based - TL       ICRA BBB+    8407.7  Reaffirmed
Khodal Cotton Processing Pvt            FB – TL               ICRA D       1.4
Ltd
Revised from ICRA B+ (Stable); Rating continues to remain under ‘Issuer Not Cooperating’
category
Khodal Cotton Processing Pvt            FB – CC               ICRA D       90
Ltd
Revised from ICRA B+ (Stable); Rating continues to remain under ‘Issuer Not Cooperating’
category
Madras Fertilizers Ltd                  LT, FB Fac            ICRA C       1914    Reaffirmed
Madras Fertilizers Ltd                  LT, Proposed Fac      ICRA C       28.4    Reaffirmed
Mahesh Electrical & Telecom             LT, FB – CC           ICRA B+      40      Assigned
Mfar Hotels And Resorts Pvt Ltd         LT TL                 ICRA BB      1800    Assigned
Mfar Hotels And Resorts Pvt Ltd         LT Fund Based         ICRA BB      130     Assigned
Mfar Hotels And Resorts Pvt Ltd         LT/ST Non-fund Based  ICRA         15      Assigned
                                                              BB/ICRA A4+
Milltec Machinery Pvt Ltd               LT: FB Fac – TL       ICRA A+      80.8    Unchanged
Milltec Machinery Pvt Ltd               LT: FB Fac            ICRA A+      120     Unchanged
Mohan Enterprises                       Fund Based - TL       ICRA BBB+    7261.1  Reaffirmed
Neogrowth Credit Pvt Ltd                NCD Programme         ICRA BBB     -       Withdrawn
Neogrowth Credit Pvt Ltd                NCD Programme         ICRA BBB     2805.5  outstanding
Neogrowth Credit Pvt Ltd                LT Bk Lines           ICRA BBB     1500    outstanding
P. Dasaratharama Reddy                  LT – Fund based CC    ICRA B+      20
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Pragati Transmission Pvt Ltd            LT- FB Fac            ICRA B+      45
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Raj Events And Entertainment            Fund based - CC       ICRA D       265
Pvt Ltd
Revised from ICRA BB+(Stable) and moved to ‘Issuer Not Cooperating’ category
Ram Foods Products Pvt Ltd              Fund based – CC LimitsICRA BB-     90
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Ripley & Co. Stevedoring &              LT/ST proposed Fac    ICRA A-/     500
Handling Pvt. Ltd.                                            ICRA A2+
Upgraded from ICRA BBB+, Reaffirmed
Sai Global Yarntex (India) Pvt          Fund based- CC        ICRA B+      228     Reaffirmed
Ltd
outlook revised to Positive from Stable
Sai Global Yarntex (India) Pvt          Fund based- TL        ICRA B+      19.5    Reaffirmed
Ltd
outlook revised to Positive from Stable
Sai Global Yarntex (India) Pvt          Unallocated           ICRA B+      149.8   Reaffirmed
Ltd                                                           /ICRA A4
outlook revised to Positive from Stable
Sant Deepak Education And               FB / CC               ICRA D       17.5    Reaffirmed
Charitable Trust
Sant Deepak Education And               FB / TL               ICRA D       112.5   Reaffirmed
Charitable Trust
Satya Microcapital Ltd.                 NCD                   ICRA BBB-            outstanding
Satya Microcapital Ltd.                 Bk Lines              ICRA BBB-            Assigned^
^ Assigned to the Rs. 150-crore fresh bank lines
Satya Microcapital Ltd.                 LT- Market Linked     PP-MLD ICRA          Assigned
                                        Debenture             BBB-
Savex Technologies Pvt Ltd              LT / ST – Fundbased/  ICRA A+ /A1+ 8050    Withdrawn
                                        Non-fund Based Bk
                                        limits
Sb Urbanscapes                          LT – Unallocated      ICRA B       200
                                        Limits
Rating moved to the ‘Issuer Not Cooperating’ category
Shilpa Medicare Ltd                     LT FBL                ICRA A       1000    Reaffirmed
Shilpa Medicare Ltd                     TL                    ICRA A       2000    Reaffirmed
Sln Coffee Pvt Ltd                      LT – FB limits        ICRA BB      270
Issuer delayed in giving information
Sln Coffee Pvt Ltd                      LT – TL               ICRA BB      175
Issuer delayed in giving information
Sln Coffee Pvt Ltd                      LT – Proposed/        ICRA BB      55
                                        unallocated limits
Issuer delayed in giving information
Spandana Sphoorty Financial             PTC Series A          ICRA A+(SO)  1065.9
Ltd- Siri 03 2019
Provisional assigned
Sree Chaitanya Corporation              LT Unallocated limits ICRA D       80
Pvt. Ltd.
Rating continues to remain under ‘Issuer Not Cooperating’ category
Suryalakshmi Cotton Mills Ltd           TL                    ICRA BBB-    1176.9
Downgraded from ICRA BBB; rating placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd           LT FB Limits          ICRA BBB-    1670
Downgraded from ICRA BBB; rating placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd           LT/ST Unallocated     ICRA BBB-/A3 441.8
                                        Limits
Downgraded from ICRA BBB/ICRA A3+ ; ratings placed on watch with negative implications
Triveni Kripa Buildhome Pvt Ltd         LT - Fund Based       ICRA BB      90
Continues to remain under the ‘Issuer Not Cooperating’ category
Vardhman Vitrified Pvt Ltd              FB – CC               ICRA D       60
Downgraded from ICRA C+; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Vardhman Vitrified Pvt Ltd              FB – BG               ICRA D       30
Downgraded from ICRA A4 (Stable); Rating continues to remain in the ‘Issuer Not Cooperating’
category
Vardhman Vitrified Pvt Ltd              Unallocated Limits    ICRA D       100
Downgraded from ICRA C+/ICRA A4; Rating continues to remain in the ‘Issuer Not Cooperating’
category
Vivriti Capital Pvt Ltd -               PTC Series A1         ICRA A-(SO)  379.3
Vivriti Cabsec 002 2019
Provisional assigned
Vivriti Capital Pvt Ltd -               PTC Series A2         ICRA BBB(SO) 17.2
Vivriti Cabsec 002 2019
Provisional assigned
Wheels India Ltd                        LT: TL                ICRA A+      1600    Reaffirmed
Wheels India Ltd                        LT - FB Fac           ICRA A+      2600    Reaffirmed
Wheels India Ltd                        LT/ST: Unallocated    ICRA         300     Reaffirmed
                                                              A+/ICRA A1+
Wil Car Wheels Ltd                      LT – TL               ICRA A-      550     Reaffirmed
Wil Car Wheels Ltd                      LT – Unallocated      ICRA A-      100     Reaffirmed
Assam Timber Products Pvt Ltd           Bk Fac                ICRA B+ /    140     -
                                                              ICRA A4
Reason for delay in carrying out periodic review: - Review process is underway
Ganesh Industries                       Bk Loan Rating        ICRA BB-     80      -
Reason for delay in carrying out periodic review - Issuer delayed in giving information
Hydrobaths Ramco Marketing Pvt          FBL                   ICRA D       104.3   -
Ltd
Issuer not cooperating
Hydrobaths Ramco Marketing Pvt          Non-FBL               ICRA D       25      -
Ltd
Issuer not cooperating
Hydrobaths Ramco Marketing Pvt          Unallocated           ICRA D       10      -
Ltd
Issuer not cooperating
Indian Potash Ltd                       LT: TL                ICRA A+      5850    Reaffirmed
Indian Potash Ltd                       LT: FB Fac            ICRA A+      11000   Reaffirmed
Indian Potash Ltd                       NCD                   Provisional  0       Withdrawn
                                                              ICRA AA-
                                                              (SO)
Pepsu Road Transport                    FBL                   ICRA B+      250     -
Corporation
Reason for delay in carrying out periodic review - Info and fee not provided
Pepsu Road Transport                    Unallocated           ICRA B+      150     -
Corporation
Reason for delay in carrying out periodic review - Info and fee not provided
Ultra Dimensions Pvt Ltd                Non Fund Based – BG   -            -       -
Ultra Dimensions Pvt Ltd                Fund based            ICRA BB      43.7    Upgraded
                                                                                   from ICRA B+
Ultra Dimensions Pvt Ltd                TL                    ICRA BB      49.8    Upgraded
                                                                                   from ICRA B+
Ultra Dimensions Pvt Ltd                Unallocated           ICRA BB      106.5   Upgraded
                                                                                   from ICRA B+
--------------------------------------------------------------------------------------------
$: 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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