March 28, 2019 / 12:32 PM / 20 days ago

RPT-ICRA ratings for Indian debt instruments-Mar 28

 (Repeating to add more ratings)
    Mar 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 27, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Housing Finance            CP programme Trust    ICRA A1+     15000   Outstanding
Ltd                                     Name
Bhatia & Company                        ST NonFund based      ICRA A4+     120     -
(Rating continues to remain in the Issuer Not Cooperating category)
Chandra Singh Contractor                Non-Fund Based- BG    ICRA A4+     9       Upgraded
                                                                                   from ICRA A4
Electromech Material Handling           ST- Fund              ICRA A3+     -       Reaffirmed
Systems (India) Pvt Ltd                 basedInterchangeable^
^ sublimit of working capital facility
Electromech Material Handling           ST- Non-fund          ICRA A3+     610     Reaffirmed
Systems (India) Pvt Ltd                 basedLOC/BG
Escorts Heart Institute And             Non-fundbased Limits  ICRA A3&     50      Upgraded
Research Centre Ltd                                                                from ICRA A4&
Flometallic India Pvt Ltd               Non-fund              ICRA A1+     300     Reaffirmed
                                        Based-Working Capital
Fortis Healthcare Ltd                   Non-FB Limits         ICRA A3&     100     upgraded
                                                                                   from ICRA A4&
& continues to be on watch with developing implications
Fortis Healthcare Ltd                   CP                    ICRA A3&     0       upgraded
                                                                                   from ICRA
                                                                                   A4&, and
                                                                                   withdrawn
Fortis Hospitals Ltd                    Non-FB Limits         ICRA A3&     500     Upgraded
                                                                                   from ICRA A4&
Hexagon Nutrition (Exports)             ST: Fund based        ICRA A2      160     Reaffirmed
Pvt Ltd
Hexagon Nutrition (Exports)             ST: Non-fund based    ICRA A2      50      Reaffirmed
Pvt Ltd
Hexagon Nutrition                       ST: Fund based /      ICRA A2      32.5    Reaffirmed
(International) Pvt Ltd                 Non-fund 
Hexagon Nutrition Pvt Ltd               ST: Fund based        ICRA A2      90      Reaffirmed
Hexagon Nutrition Pvt Ltd               ST: Non-fund based    ICRA A2      60      Reaffirmed
Hiranandani Healthcare Pvt Ltd          Non-fundsbased Limits ICRA A3&     0.2     upgraded
                                                                                   from ICRA A4&
continues to be on watch with developing implications
Jasmine Industrial Corporation          Non-Fund based-LOC(LC)ICRA A4      300     -
(Rating continues to remain under Issuer Not Cooperating category)
Maini Precision Products Ltd            ST - interchangeable  -            0       -
Oswal Cable Pvt Ltd                     ST Non-fund Based     ICRA A4+     851.2   Withdrawn
(Issuer Not Cooperating)
Prakash Retail Pvt Ltd                  Fund Based – ST       ICRA A4+     180     Withdrawn
Quantum Asset Management                Quantum Liquid Fund   ICRA A1+mfs  -       Reaffirmed
Company Pvt Ltd
Rajasthan Tube Manufacturing            ST NonFund based      ICRA A4      122.5   -
Co. Ltd
(Rating moved under Issuer Not Cooperating category)
Rockwell Industries Ltd.                Non Fund Based        ICRA A3+     160     Upgraded
                                                                                   from ICRA A3
Tanmay Polyfilms Pvt Ltd                Non fund based – LOC  ICRA A4      40      -
(Rating continues to remain in the Issuer Not Cooperating category)
Teamlease Services Ltd                  ST – FB Fac           ICRA A1      200     Reaffirmed
Teamlease Services Ltd                  CP                    ICRA A1      400     Reaffirmed
The Tinplate Company Of India           ST fund based         ICRA A1+     -       Outstanding
Ltd                                     interchangeable
The Tinplate Company Of India           Fund based - ST Fac   ICRA A1+     150     Outstanding
Ltd
The Tinplate Company Of India           Non-fund              ICRA A1+     2620    Assigned /
Ltd                                     Based-Working Capital                      Outstanding
                                        Fac
Veeraj Construction                     ST – Non Fund Based   ICRA A4      65      -
(Rating continues to remain in the Issuer Not Cooperating category)
Vishva Vishal Engineering Ltd           Non-fund Based        ICRA A3      15      Reaffirmed
Lenora Vitrified Llp                    Non-fund Based BG     ICRA D       25      Downgraded
                                                                                   from ICRA A4

LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA AA-     21850   Outstanding
Ltd
Aasan Corporate Solutions Pvt           TL – Lease Rental     ICRA BBB     4000    Outstanding
Ltd                                     Discounting (LRD)
Aasan Corporate Solutions Pvt           TL – Loan Against     ICRA BBB     1000    Outstanding
Ltd                                     Property 100 (LAP)
Aasan Corporate Solutions Pvt           TL                    ICRA BBB     4500    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           Provisional  1000    Assigned
Ltd                                                           ICRA AA-
Aasan Corporate Solutions Pvt           NCDs (NCDs)           Provisional  3500    Outstanding
Ltd                                                           ICRA AA-
Aditya Birla Housing Finance            NCD programme         ICRA AAA     20000   Outstanding
Ltd
Aditya Birla Housing Finance            Subordinated debt     ICRA AAA     10000   Outstanding
Ltd                                     programme
Aditya Birla Housing Finance            Bk lines programme    ICRA         101450  Assigned /
Ltd                                                           AAA/ICRA A1+         Outstanding
Aditya Ultra Steel Pvt Ltd              Fund based- CC        ICRA D       80      Withdrawn
(ISSUER NOT CO-OPERATING)
Aditya Ultra Steel Pvt Ltd              Fund based-TL         ICRA D       70      Withdrawn
(ISSUER NOT CO-OPERATING)
Anand Cranks                            LT Fund based/CC      ICRA B+      70      -
(Rating continues to remain in the Issuer Not Cooperating category)
Anand Cranks                            LT Fund based/TL      ICRA B+      10      -
(Rating continues to remain in the Issuer Not Cooperating category)
Anand Cranks                            Unallocated           ICRA B+ /A4  20      -
(Rating continues to remain in the Issuer Not Cooperating category)
Associated Works Infra Pvt.             Fund Based - CC       ICRA BB      10      Assigned
Ltd.
Associated Works Infra Pvt.             Non Fund Based – BG   ICRA BB/A4+  60      Assigned
Ltd.
Associated Works Infra Pvt.             Unallocated Limits    ICRA BB/A4+  5       Assigned
Ltd.
Bajaj Capital Ltd                       LT CC                 ICRA BBB     35      Reaffirmed
Bajaj Capital Ltd                       LT-TL                 ICRA BBB     207.5   Reaffirmed
Bajaj Capital Ltd                       LT Bk LinesUnallocatedICRA BBB     7.5     Reaffirmed
Bhatia & Company                        LT Fund based/TL      ICRA BB+     103.7   -
(Rating continues to remain in the Issuer Not Cooperating category)
Bhatia & Company                        LT Fund based/CC      ICRA BB+     585     -
(Rating continues to remain in the Issuer Not Cooperating category)
Bhatia & Company                        LT/ST /Unallocated    ICRA BB+     73.7    -
                                                              /A4+
(Rating continues to remain in the Issuer Not Cooperating category)
Birla Corporation Ltd                   NCD                   ICRA AA      4000    Reaffirmed
Reason for delay in carrying out periodic review:- Review process is underway
Biax Electric & Controls                LT – Fundbased CC     ICRA D       55      -
Pvt. Ltd.
(Rating moved to the Issuer Not Cooperating category)
Biax Electric & Controls                ST NonFB              ICRA D       20      -
Pvt. Ltd.
(Rating moved to the Issuer Not Cooperating category)
Chandra Singh Contractor                Fund based- Overdraft ICRA BB+     50      Upgraded
                                        Limits                                     from ICRA BB
Chandra Singh Contractor                Fund based- TL        ICRA BB+     9.4     Upgraded
                                                                                   from ICRA BB
Chandra Singh Contractor                Unallocated Limits    ICRA BB+     35.1    Upgraded
                                                                                   from ICRA BB
Coastal Energy Pvt Ltd                  FB limits             ICRA D       1135    -
(Rating remains under Issuer Not Cooperating category)
Coastal Energy Pvt Ltd                  Non-FBL               ICRA D       6455    -
(Rating remains under Issuer Not Cooperating category)
Coastal Energy Pvt Ltd                  Unallocated limits    ICRA D /     3355    -
                                                              ICRA D
(Rating remains under Issuer Not Cooperating category)
Consol Energy Llp                       FB - TL               ICRA BB+     129     Reaffirmed
(Outlook revised to Positive from Stable)
Consol Energy Llp                       Unallocated           ICRA BB+     21      Reaffirmed
(Outlook revised to Positive from Stable)
Darwin Pharma Pvt.Ltd.                  Unallocated           ICRA B       100     -
(Rating continues to remain in the Issuer Not Cooperating category)
Dnp Foods Ltd                           FBL                   ICRA D       160     Reaffirmed
Issuer Not Cooperating
Electromech Material Handling           LT-Fund based-TL      ICRA BBB     130     Reaffirmed
Systems (India) Pvt Ltd
Electromech Material Handling           LT- Fund basedWorking ICRA BBB     400     Reaffirmed
Systems (India) Pvt Ltd                 Capital Fac
Electromech Material Handling           LT- Fund              ICRA BBB     110     Reaffirmed
Systems (India) Pvt Ltd                 basedUnallocated
Escorts Heart Institute And             TL                    ICRA BBB-&   171.5   Upgraded
Research Centre Ltd                                                                from ICRA B+&
Escorts Heart Institute And             FB Limits             ICRA BBB-&   200     Upgraded
Research Centre Ltd                                                                from ICRA B+&
Flometallic India Pvt Ltd               FB - Working Capital  ICRA A+      800     Reaffirmed
                                        Fac
Florida Electrical Industries           LT Fund based CC      ICRA D       75      -
Ltd
(Rating moved under Issuer Not Cooperating category)
Florida Electrical Industries           LT-Unallocated        ICRA D       5       -
Ltd
(Rating moved under Issuer Not Cooperating category)
Fortis Healthcare Ltd                   FB Limits             ICRA BBB-&   790     upgraded
                                                                                   from ICRA B+&
& continues to be on watch with developing implications
Fortis Healthcare Ltd                   TL                    ICRA BBB-&   6260    upgraded
                                                                                   from ICRA B+&
& continues to be on watch with developing implications
Fortis Healthcare Ltd                   NCDs                  ICRA BBB-&   0       upgraded
                                                                                   from ICRA
                                                                                   B+&, and
                                                                                   withdrawn
Fortis Hospitals Ltd                    TL                    ICRA BBB-&   4550    Upgraded
                                                                                   from ICRA B+&
Fortis Hospitals Ltd                    FB Limits             ICRA BBB-&   2450    Upgraded
                                                                                   from ICRA B+&
Fortune'S Sparsh Healthcare             FB – TL               ICRA D       75      -
Pvt Ltd
(Issuer Not cooperating)
Ganpati Advisory Ltd                    Fund Based - CC       ICRA B+      50      -
(Rating continues to remain in Issuer Not Cooperating category)
Hexagon Nutrition (Exports)             LT: Fund based – TL   ICRA BBB+    70      Reaffirmed
Pvt Ltd
Hexagon Nutrition                       LT: Fund based – Term ICRA BBB+    10      Reaffirmed
(International) Pvt Ltd                 4.83 Loans
Hexagon Nutrition Pvt Ltd               LT: Fund based – CC   ICRA BBB+    70      Reaffirmed
Hexagon Nutrition Pvt Ltd               LT: Fund based – TL   ICRA BBB+    80      Reaffirmed
Hiranandani Healthcare Pvt Ltd          TL                    ICRA BBB-&   142.5   upgraded
                                                                                   from ICRA B+&
continues to be on watch with developing implications
Hiranandani Healthcare Pvt Ltd          Overdraft             ICRA BBB-&   30      upgraded
                                                                                   from ICRA B+&
continues to be on watch with developing implications
Hoin Mal Sons Enterprises Pvt           Fund based - TL       ICRA BB-     95      Upgraded
Ltd                                                                                from ICRA B+
Hoin Mal Sons Enterprises Pvt           Fund based - CC       ICRA BB-     99      Upgraded
Ltd                                                                                from ICRA B+
Jasmine Industrial Corporation          Fund based-CC         ICRA B       #
(Rating continues to remain under Issuer Not Cooperating category) / #Sub limit within the LC
limit
Jyoti General Industries                CC                    ICRA B+      72      -
(Rating continues to remain under Issuer Not Cooperating category)
Lenora Vitrified Llp                    FB TL                 ICRA D       163.9   Downgraded
                                                                                   from ICRA B+
Lenora Vitrified Llp                    FB CC                 ICRA D       90      Downgraded
                                                                                   from ICRA B+
Lenora Vitrified Llp                    Unallocated           ICRA D/ICRA  41.1    Downgraded
                                                              D                    from ICRA
                                                                                   B+/A4
Maini Precision Products Ltd            LT- TL                ICRA A       1448.9  Reaffirmed
Maini Precision Products Ltd            LT/ST- fund           ICRA A /     1810    Reaffirmed
                                        based/non-fund based  ICRA A1
Maini Precision Products Ltd            Long -term - FB/ CC   ICRA A /     0       -
                                                              ICRA A1
M L Rice Mills                          LT Fund based TL      ICRA B+      15      -
(Rating Continues to remain under Issuer Not Cooperating category)
M L Rice Mills                          LT Fund based/ CC     ICRA B+      220     -
(Rating Continues to remain under Issuer Not Cooperating category)
Magma Fincorp Ltd - Mfl                 PTC Series A1         Provisional  1596.7  Assigned
Securitisation Trust Lxxvii                                   ICRA AA
Magma Fincorp Ltd - Mfl                 PTC Series A2         Provisional  84      Assigned
Securitisation Trust Lxxvii                                   ICRA AA
Magma Fincorp Ltd - Mfl                 Second Loss Facility  Provisional  88.2    Assigned
Securitisation Trust Lxxvii                                   ICRA BBB-
Maithan Ispat Ltd                       Preference Share      ICRA C       3576.6  -
(Rating Continues to remain under Issuer Not Cooperating category)
Mehta Stone Export House                FB Limits             ICRA BB      120     Reaffirmed
Nexun Energy Llp                        FB - TL               ICRA BB+     129     Reaffirmed
Nexun Energy Llp                        Unallocated           ICRA BB+     21      Reaffirmed
North Dum Dum Municipality              Issuer Rating         ICRA BB      -       Withdrawn
Northern Arc Capital Ltd                Apogee Trust          Provisional  459.8   Confirmed as
                                                              ICRA A               final
Oswal Cable Pvt Ltd                     CC                    ICRA BB+     460     Withdrawn
Issuer Not Cooperating
Oswal Cable Pvt Ltd                     TL                    ICRA BB+     58.8    Withdrawn
Issuer Not Cooperating
Our Co. Infrastructure                  LT Fund               ICRA BB      30      -
Developers Pvt Ltd                      based/Overdraft
(Rating continues to remain in the Issuer Not Cooperating category)
Our Co. Infrastructure                  LT Fund based/TL      ICRA BB      810     -
Developers Pvt Ltd
(Rating continues to remain in the Issuer Not Cooperating category)
Patny Systems Pvt Ltd                   LT FBL-CC             ICRA BBB-    50      Reaffirmed
Patny Systems Pvt Ltd                   LT - Non Fund Based   ICRA BBB-    50      Reaffirmed
Patny Systems Pvt Ltd                   LT - Unallocated      ICRA BBB-    -       Reaffirmed
Prakash Retail Pvt Ltd                  Fund Based – LT       ICRA BB+     170     Withdrawn
Prime Comfort Products Pvt Ltd          Fund Based - CC       ICRA BB-     255     Withdrawn
(ISSUER NOT CO-OPERATING)
Prime Comfort Products Pvt Ltd          Fund Based - CC       ICRA BB-     255     -
(ISSUER NOT CO-OPERATING)
Prime Comfort Products Pvt Ltd          Fund Based - TL       ICRA BB-     70      Withdrawn
(ISSUER NOT CO-OPERATING)
Prime Comfort Products Pvt Ltd          Interchangeable#      ICRA BB-     -       Withdrawn
                                                              /ICRA A4
(ISSUER NOT CO-OPERATING) / #Subject to total outstanding amount against the fund-based cash
credit limits not to exceed Rs. 25.50 crore
Prime Comfort Products Pvt Ltd          Unallocated           ICRA BB-     23      Withdrawn
                                                              /ICRA A4
(ISSUER NOT CO-OPERATING)
Quantum Asset Management                Quantum Dynamic Bond  ICRA AAAmfs  -       Reaffirmed
Company Pvt Ltd                         Fund
R. D. Samant Contractors Pvt.           Bk Loan Rating        ICRA BB /    205
Ltd.                                                          ICRA A4+
Reason for delay in carrying out periodic review: - Issuer delayed in giving information
Rajasthan Tube Manufacturing            LT Fund based CC      ICRA B       200     -
Co. Ltd
(Rating moved under Issuer Not Cooperating category)
Regency Gangani Energy Pvt Ltd          LT Fund based TL      ICRA D       497.1   -
(Rating moved under Issuer Not Cooperating category)
Regency Yamuna Energy Ltd               LT Fund based TL      ICRA D       213.7   -
(Rating moved under Issuer Not Cooperating category)
Rockwell Industries Ltd.                Fund Based/CC         ICRA BBB     170     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Rockwell Industries Ltd.                TL                    ICRA BBB     4.5     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Rockwell Industries Ltd.                Unallocated           ICRA BBB     35.5    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Rose Gems                               LT/ST FB limits       ICRA BB+ /   240     Reaffirmed
                                                              ICRA A4+
S D Rice Mills                          LT Fund based/ CC     ICRA B       165     -
(Rating Continues to remain under Issuer Not Cooperating category)
Satya Microcapital Ltd. -               PTC Series A          Provisional  371.2   Assigned
Triumph Series I - 2019                                       ICRA A
Shriram Transport Finance Co.           Second Loss Facility  ICRA A+      -       Withdrawn
Ltd - Sansar Trust June 2016
Shriram Transport Finance Co.           PTC Series A          ICRA AAA     -       Withdrawn
Ltd - Sansar Trust June 2016
Sowihy Energy Pvt Ltd                   FB - TL               ICRA BB+     136     Reaffirmed
Sowihy Energy Pvt Ltd                   Unallocated           ICRA BB+     14      Reaffirmed
Tanmay Polyfilms Pvt Ltd                FB – CC               ICRA B-      30      -
(Rating continues to remain in the Issuer Not Cooperating category)
Tanmay Polyfilms Pvt Ltd                FB – TL               ICRA B-      35      -
(Rating continues to remain in the Issuer Not Cooperating category)
Teamlease Services Ltd                  LT - FB Fac           ICRA A       600     Reaffirmed
Teamlease Services Ltd                  LT - Non-FB Fac       ICRA A       200     Reaffirmed
The Tinplate Company Of India           FB – LT Fac           ICRA AA-     1410    Outstanding
Ltd
Traxun Energy Llp                       FB - TL               ICRA BB+     129     Reaffirmed
Traxun Energy Llp                       Unallocated           ICRA BB+     21      Reaffirmed
Unique Gems                             LT - FB               ICRA BB+     300     -
(Rating continues to remain in the Issuer Not Cooperating category)
United Bank Of India                    Basel II Compliant    ICRA A+      -       Withdrawn
                                        Lower Tier II Bonds
Veerabhadra Exports Pvt Ltd             CC                    ICRA BB-     140.4   -
(Rating continues to remain in the Issuer Not Cooperating category)
Veerabhadra Exports Pvt Ltd             TL                    ICRA BB-     400     -
(Rating continues to remain in the Issuer Not Cooperating category)
Veerabhadra Exports Pvt Ltd             Non Fund Based        ICRA BB-     60      -
(Rating continues to remain in the Issuer Not Cooperating category)
Veerabhadra Exports Pvt Ltd             Unallocated Limits    ICRA BB-     49.6    -
(Rating continues to remain in the Issuer Not Cooperating category)
Veeraj Construction                     LT – Fund Based – CC  ICRA B       35      -
(Rating continues to remain in the Issuer Not Cooperating category)
Vijay Trading Company                   Fund Based - CC       ICRA D       100     -
(Rating moved to the Issuer Not Cooperating category)
Vishva Vishal Engineering Ltd           Fund Based – CC       ICRA BBB-    45      Reaffirmed
Vishva Vishal Engineering Ltd           Fund Based – TL       ICRA BBB-    45      Reaffirmed
Vishva Vishal Engineering Ltd           Unallocated Trust NameICRA         56.7    Reaffirmed
                                                              BBB-/ICRA A3
--------------------------------------------------------------------------------------------
$: 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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