March 27, 2018 / 10:26 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Mar 27

 (Repeating to add additonal ratings as of March 26, 2018)
    Mar 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 26, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Acknit Industries Ltd                   Non-Fund Based – LOC  ICRA A3      75      Reaffirmed
Acknit Industries Ltd                   Non-Fund Based –      ICRA A3      29      Reaffirmed
                                        Forward Contract Limit
Admin Vitrified Pvt. Ltd.               Non-fund Based – BG   ICRA A4      20      Assigned
Avt Mccormick Ingredients Pvt           ST fund based Bk Fac  ICRA A2+     600     Reaffirmed
Ltd
Avt Mccormick Ingredients Pvt           ST fund based         ICRA A2+     -       Reaffirmed
Ltd                                     (sub-limit) Bk Fac
Avt Mccormick Ingredients Pvt           ST non-fund based     ICRA A2+     -       Reaffirmed
Ltd                                     (sub-limit) Bk Fac
Avt Mccormick Ingredients Pvt           ST fund based /       ICRA A2+     -       Reaffirmed
Ltd                                     non-fund based Bk
                                        (sub-limit) facility
Avt Natural Products Ltd                ST fund based Bk Fac  ICRA A1      295     Reaffirmed
Avt Natural Products Ltd                ST non-fund based Bk  ICRA A1      137     Reaffirmed
                                        Fac
Chandra Singh Contractor                Non-Fund Based- BG    ICRA A4      9       Reaffirmed
Gm Sugar & Energy Ltd                   FBL                   ICRA A4      650     Assigned
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     15000   Assigned
                                        Financing)
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     75000   Outstanding
                                        Financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     7500    Outstanding
Madura Micro Finance Ltd                MFI Grading           M2+          -       Assigned
Master Capital Services Ltd             ST Bk Lines (non-fund ICRA A2      1000    Reaffirmed
                                        based)
Pee Vee Textiles Ltd                    ST Non Fund Based     ICRA A2+     400     Reaffirmed
Shriram City Union Finance Ltd          CP                    ICRA A1+     25000   Assigned
Sri Sai Earth Movers                    ST – Non-fund based – ICRA A4      100     Reaffirmed
                                        BG
Suttatti Enterprises Pvt Ltd            Non-FBL               ICRA A2+     2.3     Reaffirmed
Tata Elxsi Ltd                          ST- Non-FB            ICRA A1+     100     Reaffirmed
The Gowthami Solvent Oils Ltd           Non-fund based        ICRA A4+     40      -
Rating continue to remain under Issuer Not Cooperating category
Varsha Cables Pvt Ltd                   Non-fund based- LOC/BGICRA A4      40      Reaffirmed
Crown Promoters And Developers          Short- term Nonfund   ICRA D       47      ISSUER NOT
                                        Based                                      COOPERATING
Genisys Information Systems             ST – Non Fund Based   ICRA A4      15      Review
(India) Pvt Ltd                                                                    process is
                                                                                   underway
Lila Dhar Devki Nandan                  Non- FBL              ICRA A4      50      ISSUER NOT
                                                                                   COOPERATING
Lila Dhar Devki Nandan                  Unallocated           ICRA A4      50      ISSUER NOT
                                                                                   COOPERATING
R.R. Industries                         Short- term Nonfund   ICRA A4      0.3     ISSUER NOT
                                        Based                                      COOPERATING
Ramkumar Textile Pvt Ltd                Short- term Nonfund   ICRA A4      5       ISSUER NOT
                                        Based                                      COOPERATING
Sangeetha Mobiles Pvt Ltd               ST- FBL               ICRA A3+     300     Review
                                                                                   process is
                                                                                   underway
Sangeetha Mobiles Pvt Ltd               ST- Fund/ Non fund    ICRA A3+     380     Review
                                        based Interchangeable                      process is
                                        Limits                                     underway


MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          Fixed deposit         MAA+         -       Outstanding
                                        programme


LONG TERM RATINGS:
-------------------
Acknit Industries Ltd                   Fund Based – TL       ICRA BBB-    76.5    Reaffirmed
Acknit Industries Ltd                   Fund Based – CC       ICRA BBB-    490     Reaffirmed
Acknit Industries Ltd                   Non-Fund Based – BG   ICRA BBB-    10      Reaffirmed
Admin Vitrified Pvt. Ltd.               FB – TL               ICRA B+      200     Assigned
Admin Vitrified Pvt. Ltd.               FB – CC*              ICRA B+      80      Assigned
*Export Bill Negotiation (EBN) limit of Rs. 1.85 crore as a sub-limit of cash credit limit 
Avt Mccormick Ingredients Pvt           LT / ST fund based Bk ICRA A-/A2+  1350    Reaffirmed
Ltd                                     Fac
Avt Mccormick Ingredients Pvt           Unallocated Limits    ICRA A-/A2+  12.5    Reaffirmed
Ltd
Avt Natural Products Ltd                LT / ST fund based    ICRA A       215     Reaffirmed
                                        (interchangeable) Bk
                                        Fac
Avt Natural Products Ltd                LT non-fund based Bk  ICRA A       1.8     Reaffirmed
                                        facility
Badami Town Municipal Coun              -                     ICRA BB      -       NDS
ISSUER NOT COOPERATING
Bohra Exports Pvt Ltd                   Fund Based – CC       ICRA BB      110     Upgraded
                                                                                   from ICRA BB-
Bohra Exports Pvt Ltd                   Non-FBL – LC#         ICRA BB/A4+  850     Upgraded
                                                                                   from ICRA
                                                                                   BB-/A4
# Includes sub-limit of Buyers Credit of Rs. 85.00 Crore, Cash Credit (Fund Based) of Rs. 85.00
Crore, Letter of Credit of Rs. 85.00 Crore. However, total utilization cannot exceed Rs.85 Crore
Bohra Exports Pvt Ltd                   Proposed Limits       ICRA BB/A4+  540     Upgraded
                                                                                   from ICRA
                                                                                   BB-/A4
Chandra Singh Contractor                Fund based- Overdraft ICRA BB      50      Reaffirmed
                                        Limits
Chandra Singh Contractor                Fund based- TL        ICRA BB      9.4     Reaffirmed
Chandra Singh Contractor                Unallocated Limits    ICRA BB      35.1    Reaffirmed
Cyberwalk Tech Parkpvt Ltd              Terms Loans           ICRA D       688.4   Reaffirmed
Divija Commercial Properties            Fund based-TL         ICRA BBB     14500   Assigned
Pvt Ltd
G R Constructions                       FBL                   ICRA BB+     60      Reaffirmed
G R Constructions                       Unallocated           ICRA BB+/A4+ 142     Reaffirmed
Gm Sugar & Energy Ltd                   Unallocated limits    ICRA BB-/A4  600     Assigned
Hoin Mal Sons Enterprises Pvt           Fund based -TL        ICRA B+      95      Reaffirmed
Ltd
Hoin Mal Sons Enterprises Pvt           Fund based -CC        ICRA B+      99      Reaffirmed
Ltd
Lakshminarasimha Warehousing            Fund based – TL       ICRA B       51.5    -
Rating moved to the Issuer Not Cooperating category
Lakshminarasimha Warehousing            Unallocated           ICRA B       8.5     -
Rating moved to the Issuer Not Cooperating category
Magma Fincorp Ltd                       PTC Series A1         Provisional  492.5   Assigned
                                                              ICRA AA
Magma Fincorp Ltd                       PTC Series A2         Provisional  30      Assigned
                                                              ICRA AA
Magma Fincorp Ltd                       Liquidity Facility    Provisional  7.8     Assigned
                                                              ICRA AAA
Magma Fincorp Ltd                       Second Loss Facility  Provisional  20.9    Assigned
                                                              ICRA BBB-
Orange Renewable Power Pvt Ltd          TL                    ICRA A       1000    Reaffirmed
Orange Renewable Power Pvt Ltd          Non-FBL               ICRA A/A1    2000    Reaffirmed
Pee Vee Textiles Ltd                    LT Fund Based TL      ICRA A-      2370.7  Reaffirmed
Pee Vee Textiles Ltd                    LT Fund Based/CC      ICRA A-      900     Reaffirmed
Pee Vee Textiles Ltd                    LT Non Fund Based     ICRA A-      70      Reaffirmed
Pee Vee Textiles Ltd                    LT Unallocated        ICRA A-      409.3   Reaffirmed
Sahu Khan Chand Foods                   Fund based-Working    ICRA B+      120     Reaffirmed
                                        Capital Fac
Shiv Shakti Industries                  Fund basedTL          ICRA B+      37.5    -
Rating continues to remain in the Issuer Not Cooperating category
Shiv Shakti Industries                  Fund based-CC         ICRA B+      200     -
Rating continues to remain in the Issuer Not Cooperating category
Shriram City Union Finance Ltd          NCD Programme         ICRA AA      250     Outstanding
Soham Renewable Energy                  TL                    ICRA B-      387     Revised from
Indiapvtltd                                                                        ICRA D
Spandana Sphoorty Financial Ltd         PTC Series A1         Provisional  981.5   Assigned
                                                              ICRA A
Sri Lakshmi Venkateswara                Fund based/Cash-creditICRA BB-     230     Upgraded
Hygienic Foods Pvt Ltd                                                             from ICRA B
Sri Lakshmi Venkateswara                Fund based-Term-loan  ICRA BB-     68.6    Upgraded
Hygienic Foods Pvt Ltd                                                             from ICRA B
Sri Lakshmi Venkateswara                Unallocated           ICRA BB-     21.4    Upgraded
Hygienic Foods Pvt Ltd                                                             from ICRA B
Sri Lakshmi Venkateswara                Non-fund based-BG*    ICRA BB-     -       Upgraded
Hygienic Foods Pvt Ltd                                                             from ICRA B
*Sub-limit of cash credit
Sri Sai Earth Movers                    LT – FB – CC          ICRA BB-     50      Upgraded
                                                                                   from ICRA B+
Sri Venkateswara Warehousing            Fund based – TL       ICRA B       77.3    -
Rating moved to the Issuer Not Cooperating category
Sri Venkateswara Warehousing            Unallocated           ICRA B       2.7     -
Rating moved to the Issuer Not Cooperating category
Suttatti Enterprises Pvt Ltd            Fund based-TL         ICRA BBB+    130     Reaffirmed
Suttatti Enterprises Pvt Ltd            Fund based- Working   ICRA BBB+    150     Reaffirmed
                                        Capital Fac
Suttatti Enterprises Pvt Ltd            Fund based-UnallocatedICRA BBB+    52.7    Reaffirmed
Tata Elxsi Ltd                          LT- FB/CC             ICRA AA      450     Reaffirmed
The Gowthami Solvent Oils Ltd           Fund based – TL       ICRA BB      222.4   -
Rating continue to remain under Issuer Not Cooperating category
The Gowthami Solvent Oils Ltd           Fund based – CC       ICRA BB      520     -
Rating continue to remain under Issuer Not Cooperating category
The Gowthami Solvent Oils Ltd           Unallocated           ICRA BB      20.8    -
Rating continue to remain under Issuer Not Cooperating category
Varsha Cables Pvt Ltd                   Fund based- CC        ICRA B+      85      Reaffirmed
Venkata Naga Lakshmi                    Fund based-TL         ICRA B+      7.4     Reaffirmed
Papermills Pvt Ltd
Venkata Naga Lakshmi                    Fund based- Working   ICRA B+      90      Reaffirmed
Papermills Pvt Ltd                      Capital Fac
Venkata Naga Lakshmi                    Unallocated           ICRA B+/A4   152.6   Reaffirmed
Papermills Pvt Ltd
Vidya Sanskaar Educational And          TL                    ICRA B+      56.9    -
Charitable Trust
Rating continues to remain in the Issuer Not Cooperating category
Vidya Sanskaar Educational And          Unallocated           ICRA B+      1.1     -
Charitable Trust
Rating continues to remain in the Issuer Not Cooperating category
Vishala India Commercial                Fund based -TL        ICRA BBB-    866     Reassigned
Developers Pvt Limite                                                              from ICRA BB+
Zensar Technologies Ltd                 Long/ST FB Fac        ICRA AA+&/   1400    -
                                                              ICRA}A1+&
&: ratings watch with developing implications
Badami Town Municipal Council           Rating                ICRA BB              No Default
                                                                                   Statement

Crown Promoters And Developers          Long- term Fund Based ICRA D       63      ISSUER NOT
                                                                                   COOPERATING
Cyberwalk Tech Park Pvt Ltd             TL                    ICRA D       688.4   Reaffirmed
Foods And Feeds                         BLR                   ICRA D       130     ISSUER NOT
                                                                                   COOPERATING
Genisys Information Systems             LT - TL               ICRA BB-     53.1    Review
(India) Pvt Ltd                                                                    process is
                                                                                   underway
Genisys Information Systems             LT - Fund Based       ICRA BB-     90      Review
(India) Pvt Ltd                                                                    process is
                                                                                   underway
Jpc Infra Pvt Ltd                       Long- term Fundbased  ICRA D       208     ISSUER NOT
                                        Limits                                     COOPERATING
Jpc Infra Pvt Ltd                       Unallocated           ICRA D       2       ISSUER NOT
                                                                                   COOPERATING
Kandalaa                                CC                    ICRA B+      110     Review
                                                                                   process is
                                                                                   underway
Kraft Powercon India Pvt Ltd            Bk Loan Rating        ICRA BBB- /  177.6   Issuer
                                                              ICRA A3              delayed in
                                                                                   giving
information
Lakshmidurga Textiles Pvt Ltd           BLR                   ICRA B+      75      Review
                                                                                   process is
                                                                                   underway
Lila Dhar Devki Nandan                  Fund- based Limits    ICRA B- / A4 60      ISSUER NOT
                                                                                   COOPERATING
Machino Polymers Ltd                    LT/ ST fund based/    ICRA BBB+/   1655    Review
                                        Non- fund based       ICRA A2+             process is
                                                                                   underway
Magma Fincorp Ltd- Mfl                  PTC Series A1         ICRA AA(SO)  492.5   Assigned
Securitisation Trust Lxiii                                                         Provisional
Magma Fincorp Ltd- Mfl                  PTC Series A2         ICRA AA(SO)  30      Assigned
Securitisation Trust Lxiii                                                         Provisional
Magma Fincorp Ltd- Mfl                  Liquidity Facility    ICRA         7.8     Assigned
Securitisation Trust Lxiii                                    AAA(SO)              Provisional
Magma Fincorp Ltd- Mfl                  Second Loss Facility  ICRA BBB-    20.9    Assigned
Securitisation Trust Lxiii                                    (SO)                 Provisional
Mahesh Agri Exim Pvt Ltd                BLR                   ICRA D       240.5   ISSUER NOT
                                                                                   COOPERATING
Md Frozen Food Exports                  FBL                   ICRA D       645     Info and fee
                                                                                   not provided
Md Frozen Food Exports                  Non- FBL              ICRA D       5       Info and fee
                                                                                   not provided
Md Frozen Food Exports Pvt Ltd          FBL                   ICRA D       547.5   Info and fee
                                                                                   not provided
Md Frozen Food Exports Pvt Ltd          Non- FBL Type         ICRA D       2.5     Info and fee
                                                                                   not provided
Multichem Specialities Pvt Ltd          BLR                   ICRA B+ /    200     ISSUER NOT
                                                              ICRA A4              COOPERATING
Northern Arc Capital Ltd -              Loan                  Provisional  50      Assigned
Aris Capital Pvt Ltd (Aris)                                   ICRA A- (SO)
Northern Arc Capital Ltd -              Loan                  Provisional  150     Assigned
Essel Finance Business Loans                                  ICRA A- (SO)
Ltd (Essel)
Northern Arc Capital Ltd -              Loan                  Provisional  100     Assigned
Fino Finance Pvt Ltd (Fino)                                   ICRA A- (SO)
Northern Arc Capital Ltd -              Loan                  Provisional  100     Assigned
Kanakadurga Finance Ltd                                       ICRA A- (SO)
(Kanakdurga)
Northern Arc Capital Ltd -              Loan                  Provisional  200     Assigned
Lendingkart Finance Ltd                                       ICRA A- (SO)
(Lendingkart)
Northern Arc Capital Ltd -              Loan                  Provisional  70      Assigned
Light Microfinance Pvt Ltd                                    ICRA A- (SO)
(Light)
Northern Arc Capital Ltd -              Loan                  Provisional  70      Assigned
Pahal Financial Services Pvt                                  ICRA A- (SO)
Ltd (Pahal)
Northern Arc Capital Ltd -              Loan                  Provisional  150     Assigned
Pudhuaaru Financial Services                                  ICRA A- (SO)
Pvt Ltd (Pfspl)
Northern Arc Capital Ltd -              Loan                  Provisional  150     Assigned
Saija Finance Pvt Ltd (Saija)                                 ICRA A- (SO)
Northern Arc Capital Ltd -              Loan                  Provisional  60      Assigned
Sambandh Finserve Pvt Ltd                                     ICRA A- (SO)
(Sambandh)
Northern Arc Capital Ltd -              Loan                  Provisional  150     Assigned
Satya Microcapital Ltd (Satya)                                ICRA A- (SO)
Northern Arc Capital Ltd -              Loan                  Provisional  100     Assigned
Shri Ram Finance Corporation                                  ICRA A- (SO)
Pvt Ltd (Srfcpl)
Northern Arc Capital Ltd -              Loan                  Provisional  250     Assigned
Sonata Finance Pvt Ltd (Sonata)                               ICRA A- (SO)
Northern Arc Capital Ltd -              Loan                  Provisional  50      Assigned
Svasti Microfinance Pvt. Ltd.                                 ICRA A- (SO)
(Svasti)
Northern Arc Capital Ltd -              Loan                  Provisional  100     Assigned
Village Financial Services Ltd                                ICRA A- (SO)
(Village)
Northern Arc Capital Ltd - Zen          Loan                  Provisional  250     Assigned
Lefin Pvt Ltd (Capital Float)                                 ICRA A- (SO)
Om Trading Company                      BLR                   ICRA B-      49.5    ISSUER NOT
                                                                                   COOPERATING
Polyplastics Automotive India           Long- term Fund Based ICRA D       189.5   ISSUER NOT
Pvt Ltd                                                                            COOPERATING
Polyplastics Automotive India           Short- term Nonfund   ICRA D       2.5     ISSUER NOT
Pvt Ltd                                 Based                                      COOPERATING
Polyplastics Automotive India           Unallocated           ICRA D       58      ISSUER NOT
Pvt Ltd                                                                            COOPERATING
R.R. Industries                         Long- term Fund Based ICRA B       74.3    ISSUER NOT
                                                                                   COOPERATING
R.R. Industries                         Unallocated           ICRA B/ A4   15.4    ISSUER NOT
                                                                                   COOPERATING
Ramkumar Textile Pvt Ltd                Long- term Fund Based ICRA B+      115     ISSUER NOT
                                                                                   COOPERATING
Sangeetha Mobiles Pvt Ltd               Long/ ST- Fund/ Non   ICRA BBB /   20      Review
                                        fund based            ICRA A3+             process is
                                        Interchangeable Limits                     underway
Shree Guru Nanak Dev Rice Mills         Fund Based: LT        ICRA B       60      ISSUER NOT
                                                                                   COOPERATING
Soham Renewable Energy India            TL                    ICRA B-      387     Revised from
Pvt Ltd                                                                            ICRA D
Textrend Lifestyle Pvt Ltd              BLR                   ICRA B       60      ISSUER NOT
                                                                                   COOPERATING
Vaibhav Laxmi Tex Pvt Ltd               BLR                   ICRA B+      90      ISSUER NOT
                                                                                   COOPERATING
Venkata Naga Lakshmi Paper              Fund based- TL        ICRA B+      7.4     Reaffirmed
Mills Pvt Ltd
Venkata Naga Lakshmi Paper              Fund based- Working   ICRA B+      90      Reaffirmed
Mills Pvt Ltd                           Capital Fac
Venkata Naga Lakshmi Paper              Unallocated           ICRA B+ /    152.6   Reaffirmed
Mills Pvt Ltd                                                 ICRA A4
Vishala India Commercial                Fund based- TL        ICRA BBB-    866     Reassigned
Developers Pvt Ltd                                            (SO)                 from ICRA BB+

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