March 26, 2019 / 10:43 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Mar 26

 (Repeating to add more ratings)
    Mar 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 25, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bina Tube Pvt Ltd                       BG                    ICRA A4      8       Assigned
Dodla Dairy Ltd                         ST FBL                ICRA A1+     300     Reaffirmed
E-Pack Polymers Pvt Ltd                 Non-FBL               ICRA A2      300     Revised from
                                                                                   ICRA A3+
Larsen & Toubro Ltd                     CP                    ICRA A1+     100000  Outstanding
Oxyzo Financial Services Pvt            CP                    ICRA A2      150     Assigned
Ltd
Shree Tnb Polymers Ltd                  Non-FBL               ICRA A4      14      -
Shri Laxminarayan Chemical &            ST: Unallocated       ICRA A4      20      -
Fertilizers Pvt Ltd
continues to remain under ISSUER NOT COOPERATING
Sri Rama Spin Cot                       NFBL                  ICRA A4      0.3     -
Issuer not cooperating
Tata Elxsi Ltd                          ST – Non-fund based   ICRA A1+     100     Reaffirmed
Conneqt Business Solutions Ltd          CP Programme**        ICRA A1+     500     Reaffirmed
**Commercial paper carved out of existing working capital limits
Farida Shoes Pvt Ltd                    ST – Fund based       ICRA A3+     900     Assigned
                                        facility
Farida Shoes Pvt Ltd                    ST – Non-fund based   ICRA A3+     100     outstanding
                                        facility
Jamshedpur Utilities And                BG                    ICRA A2+     700     Reaffirmed
Services Co. Ltd
Kh Exports India Pvt Ltd                LOC                   ICRA A1      650     Reaffirmed
Kh Exports India Pvt Ltd                BG^                   ICRA A1      -       Reaffirmed
^Sub-limits under Letter of Credit
Kh Exports India Pvt Ltd                ST unallocated Trust  ICRA A1      1039    Reaffirmed
                                        Name
Krishnaveni Seeds And                   ST: NonFund based     ICRA A4      1.1     -
Fertilizers
continues to remain under issuer not cooperating category
Shapoorji Pallonji Oil And Gas          CP                    Provisional  -       Withdrawn
Pvt Ltd                                                       ICRA
                                                              A1+(SO)&
& Under ratings watch with developing implications
Srinivasa Sales And Service             Non-Fund Based        ICRA A4      63      -
Pvt. Ltd.
continues to remain under issuer not cooperating category

LONG TERM RATINGS:
-------------------
Azure Power Jupiter Pvt Ltd             TL                    ICRA BBB     2300    Reaffirmed
outlook revised to Negative from Stable
Azure Power Uranus Pvt Ltd              TL                    ICRA BBB     375     Reaffirmed
Bina Tube Pvt Ltd                       LT CC                 ICRA B+      20      Assigned
Bina Tube Pvt Ltd                       LT TL                 ICRA B+      80.8    Assigned
Bina Tube Pvt Ltd                       Unallocated           ICRA B+ /A4  1.2     Assigned
Chhapra Hajipur Expressways Ltd         Fund based- TL        ICRA D       9338.2  Reaffirmed
Chhapra Hajipur Expressways Ltd         Unallocated Limits    ICRA D       1.7     Reaffirmed
Da Toll Road Pvt Ltd                    TL                    ICRA BBB&    18833.4 -
put on watch with developing implications
Da Toll Road Pvt Ltd                    Proposed TL           ICRA BBB&    154.4   -
put on watch with developing implications
Dodla Dairy Ltd                         FB -TL                ICRA A+      700     Reaffirmed
                                                              (Positive)
Dodla Dairy Ltd                         Unallocated Limits    ICRA A+      370     Reaffirmed
                                                              (Positive)
Dodla Dairy Ltd                         FB – CC*              ICRA A+      725     Reaffirmed
                                                              (Positive)
*Cash credit interchangeable with short-term loans
Eldorado Agritech Pvt. Ltd              FBL                   ICRA BB      98.3    Withdrawn
Eldorado Agritech Pvt. Ltd              Unallocated limits    ICRA BB      3.1     Withdrawn
E-Pack Polymers Pvt Ltd                 FB Limits             ICRA BBB+    496.4   Revised from
                                                                                   ICRA BBB
outlook revised to Stable from Positive
E-Pack Polymers Pvt Ltd                 Unallocated (Proposed ICRA BBB+    3.6     Revised from
                                        Limits)                                    ICRA BBB
outlook revised to Stable from Positive
Gimpex Pvt Ltd                          FB Limits             ICRA BB+     2550    -
Issuer not cooperating
Gimpex Pvt Ltd                          Non-FB Limits         ICRA BB+     1900    -
Issuer not cooperating
Gimpex Pvt Ltd                          LT (Sub- Limit) Fac   ICRA BB+     -       -
Issuer not cooperating
Gsr Textiles Pvt Ltd                    FBL                   ICRA D       182.7   -
Issuer not cooperating
Gsr Textiles Pvt Ltd                    NFBL                  ICRA D       13.5    -
Issuer not cooperating
Gsr Textiles Pvt Ltd                    Unallocated limits    ICRA D       42.2    -
Issuer not cooperating
Hcl Technologies Ltd                    LT CC Fac             ICRA AAA     500     Reaffirmed
Hcl Technologies Ltd                    LT/ST Non-FB Fac      ICRA AAA     10020   Reaffirmed
                                                              /ICRA A1+
Hcl Technologies Ltd                    LT/ST Fund            ICRA AAA     17440   Reaffirmed
                                        Based/Non-Fund Based  /ICRA A1+
Javin Construction Pvt Ltd              FBL                   ICRA B+      300     -
Issuer not cooperating
Kamlesh Metacast Pvt Ltd                Non-FBL               ICRA B       186     -
Issuer not cooperating
Ksr Properties Pvt Ltd                  LT- Unallocated LimitsICRA B       300     -
Lalita Foamex Pvt Ltd                   FBL – CC              ICRA D       10      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Lalita Foamex Pvt Ltd                   FBL – TL              ICRA D       47.5    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Larsen & Toubro Ltd                     NCD                   ICRA AAA     14500   Outstanding
Madurai Tuticorin Expressways           FB - TL               ICRA D       5447.3  Reaffirmed
Ltd
Maini Material Movement Pvt Ltd         LT - Fund Based/ CC   ICRA BBB-    110     Reaffirmed
Maini Material Movement Pvt Ltd         LT – Fund Based TL    ICRA BBB-    98.4    Reaffirmed
Margadarsi Marketing Pvt Ltd            CC                    ICRA BB-     120     Reaffirmed
Margadarsi Marketing Pvt Ltd            Unallocated limits    ICRA BB-     45.1    Reaffirmed
Nandi Housing Pvt Ltd                   LT- TL                ICRA BB+     750     -
Reason for delay in carrying out periodic review: Issuer not cooperating
Oxyzo Financial Services Pvt            Non- Convertible      ICRA BBB     400     outstanding
Ltd                                     Debenture
Oxyzo Financial Services Pvt            LT Bk Lines           ICRA BBB     500     outstanding
Ltd
Oxyzo Financial Services Pvt            Issuer rating Trust   ICRA BBB     -       outstanding
Ltd                                     Name
Oxyzo Financial Services Pvt            LT-Market Linked      PP-MLDICRA   170     outstanding
Ltd                                     Debenture             BBB
Peninsula Land Ltd                      NCD Programme         ICRA BBB-    5305.3  Downgraded
                                                                                   from ICRA
                                                                                   BBB+
Peninsula Land Ltd                      NCD Programme         ICRA BBB-    -       Downgraded
                                                                                   from ICRA
                                                                                   BBB+ and
withdrawn
Shree Tnb Polymers Ltd                  FBL                   ICRA BB-     240.2   -
Shree Tnb Polymers Ltd                  Unallocated           ICRA BB- /A4 1.2     -
Shri Laxminarayan Chemical &            LT: FB Fac            ICRA B-      50      -
Fertilizers Pvt Ltd
continues to remain under ISSUER NOT COOPERATING
Sri Rama Spin Cot                       FBL                   ICRA B       102.7   -
Issuer not cooperating
Sri Rama Spin Cot                       LT Unallocated limits ICRA B       0.4     -
Issuer not cooperating
Sri Venkateswara Rice                   FBL                   ICRA D       182.7   -
Industries Pvt Ltd
Issuer not cooperating
Sri Venkateswara Rice                   NFBL                  ICRA D       13.5    -
Industries Pvt Ltd
Issuer not cooperating
Sri Venkateswara Rice                   Unallocated limits    ICRA D       42.2    -
Industries Pvt Ltd
Issuer not cooperating
Srikar Biotech Pvt. Ltd.                FBL                   ICRA BB-     122.3   Withdrawn
Srikar Biotech Pvt. Ltd.                Unallocated limits    ICRA BB-     4.6     Withdrawn
Tamil Nadu Dindigul Karur               FB - TL               ICRA D       1271    Reaffirmed
Expressways Ltd
Tata Elxsi Ltd                          LT – Fund based/CC    ICRA AA      450     Reaffirmed
Trichy Thanjavur Expressways            FB - TL               ICRA D       2191    Reaffirmed
Ltd
Windsor Edifices Pvt Ltd                LT- TL Rated Amount   ICRA D       500     -
Reason for delay in carrying out periodic review: Issuer not cooperating
Ajnara India Ltd                        Fund based-TL         ICRA BBB     8480    Reaffirmed
Ajnara India Ltd                        LT Unallocated        ICRA BBB     820     Reaffirmed
Alliance Granimarmo Pvt Ltd             LT – Fund based/TL    ICRA D       179.7   -
rating continues to remain in Issuer Not Cooperating category
Alliance Granimarmo Pvt Ltd             ST – FB               ICRA D       335     -
rating continues to remain in Issuer Not Cooperating category
Alliance Granimarmo Pvt Ltd             ST – Non-Fund based   ICRA D       20      -
rating continues to remain in Issuer Not Cooperating category
Alliance Granimarmo Pvt Ltd             Unallocated           ICRA D       45.3    -
rating continues to remain in Issuer Not Cooperating category
Chloride Power Systems Amp;             FB Limits – CC        ICRA AA-     100     Reaffirmed
Solutions Ltd
Chloride Power Systems Amp;             Non-FBL               ICRA AA-     400     Reaffirmed
Solutions Ltd                                                 /ICRA A1+
Conneqt Business Solutions Ltd          FB Limits             ICRA A+      550     Reaffirmed
Conneqt Business Solutions Ltd          FB/Non-FBL            ICRA A+ /    350     Reaffirmed
                                                              ICRA A1+
Conneqt Business Solutions Ltd          LT/ST Non-FBL         ICRA A+      390     Reaffirmed
                                                              /ICRA A1+
Dolphin Marine Foods &                  FB – FDBP / FIDBP**   ICRA D       90      Downgraded
Processors (India) Pvt Ltd                                                         from ICRA A4
** FDBP – Foreign Documentary Bill Purchase/ FUDBP – Foreign Usance Documentary Bill Purchase;
Dolphin Marine Foods &                  FB – Packing Credit***ICRA D       -       Downgraded
Processors (India) Pvt Ltd                                                         from ICRA A4
***Sublimit of FDBP/FUDBP
Dolphin Marine Foods &                  Unallocated           ICRA D /     40      Downgraded
Processors (India) Pvt Ltd                                    ICRA D               from ICRA B-
                                                                                   / ICRA A4
Dolphin Marine Foods Amp;               FB – CC               ICRA D       20      Downgraded
Processors (India) Pvt Ltd                                                         from ICRA B-
Farida Shoes Pvt Ltd                    LT – Unallocated      ICRA BBB     85      Assigned
                                        facility
Hindusthan Engineering &                FB & NFBL             ICRA BBB+    5300    Reaffirmed
Industries Ltd
Jamshedpur Utilities And                CC                    ICRA A-      250     Reaffirmed
Services Co. Ltd
Jamshedpur Utilities And                TL                    ICRA A-      150     Reaffirmed
Services Co. Ltd
Jamshedpur Utilities And                Unallocated Limits    ICRA A-/A2+  900     Reaffirmed
Services Co. Ltd
Kh Exports India Pvt Ltd                LT unallocated        ICRA A       125     Reaffirmed
Krishnaveni Seeds And                   LT: FB Fac            ICRA BB-     50      -
Fertilizers
continues to remain under Issuer not cooperating category
Manoj Vaibhav Jewellers Pvt             Fund based – CC       ICRA BB      380     Reaffirmed
Ltd (Erstwhile Vaibhav
Jewellers)
Manoj Vaibhav Jewellers Pvt             Unallocated Limits    ICRA BB      20      Reaffirmed
Ltd (Erstwhile Vaibhav
Jewellers)
Parcon India Pvt Ltd                    Fund based-CC         ICRA BBB+    200     Reaffirmed
Parcon India Pvt Ltd                    Fund based- TL        ICRA BBB+    1.8     Reaffirmed
Shapoorji Pallonji Oil And Gas          Non-FB - Working      ICRA         -       outstanding
Pvt Ltd                                 Capital Fac           A+(S)&/
                                                              ICRA A1+(S)&
& Under ratings watch with developing implications
Spandana Sphoorty Financial Ltd         PTC Series A          ICRA AA(SO)  159.2   Withdrawn
Spandana Sphoorty Financial Ltd         PTC Series A1         ICRA AA(SO)  42.6    Withdrawn
Srinivasa Sales And Service             CC                    ICRA BB-     97      -
Pvt. Ltd.
continues to remain under issuer not cooperating category
Srinivasa Sales And Service             TL                    ICRA BB-     75      -
Pvt. Ltd.
continues to remain under issuer not cooperating category
Srinivasa Sales And Service             Unallocated           ICRA         16.1    -
Pvt. Ltd.                                                     BB-/ICRA A4
continues to remain under issuer not cooperating category
Talwalkars Better Value                 NCD Program           ICRA BBB+    800     revised from
Fitness Ltd                                                                        ICRA A
--------------------------------------------------------------------------------------------
$: 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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