May 10, 2018 / 10:51 AM / 11 days ago

RPT-ICRA ratings for Indian debt instruments-May 10

 (Repeating to add more ratings)
    May 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 9, 2018.


COMPANY                                 INSTRUMENT            RATING       AMOUNT   MOVEMENT
                                                                           (RS.MLN)
------                                  ----------            ------       -----    ---------
SHORT TERM RATINGS:
-------------------
Bharti Airtel Ltd                       CP                    ICRA A1+     60000
Bharti Airtel Ltd                       Working Capital       ICRA A1+     2500
                                        Limits (rated on ST
                                        scale)
Den Networks Ltd                        Non-fund Based        ICRA A1      150     Outstanding
                                        Working Capital Fac
Dewan Housing Finance                   CP Programme          ICRA A1+     150000
Corporation Ltd (Dhfl)
Assigned/ Outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     60000   Assigned
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme          ICRA A1+     45000   Reaffirmed
Ecl Finance Ltd                         ST NCD Programme      ICRA A1+     1000    Outstanding
Ecl Finance Ltd                         ST Principal          PP-MLD ICRA  9000    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     60000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme          ICRA A1+     70000   Reaffirmed
Ltd
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     -       Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          ST Principal          PP-MLD ICRA  5000    Outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Techno Electric & Engineering           Non-FB Fac            ICRA A1+     11050   Assigned
Co. Ltd
Techno Electric & Engineering           FB Fac                ICRA A1+     -       Assigned
Co. Ltd
Union Bank Of India                     CDs                   ICRA A1+     150000
Assigned/ Outstanding
Zensar Technologies Ltd                 Long/ST FB Fac        ICRA AA+ /   1400    Reaffirmed
                                                              ICRA A1+
(Removed from ratings watch with developing implications)

LONG TERM RATINGS:
-------------------
Aditi Foods (India) Pvt Ltd             Fund based-TL         ICRA BB+     95      Assigned
Aditi Foods (India) Pvt Ltd             Fund based- Working   ICRA BB+     30      Assigned
                                        Capital Fac
Al - Ayaan Foods Pvt Ltd                LT Fund based/CC      ICRA B       100
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Al - Ayaan Foods Pvt Ltd                Unallocated           ICRA B       200
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Bharti Airtel Ltd                       Issuer Rating         ICRA AA+     NA
Bharti Airtel Ltd                       TL                    ICRA AA+     46000
Bharti Airtel Ltd                       Working Capital       ICRA AA+     22500
                                        Limits (rated on LT
                                        scale)
Bhavyalaxmi Industries Pvt Ltd          LT Fund Based - CC    ICRA B+      64.5
Issuer not cooperating
Bhavyalaxmi Industries Pvt Ltd          LT Fund Based - TL    ICRA B+      2.7
Issuer not cooperating
Bhavyalaxmi Industries Pvt Ltd          LT Unallocated        ICRA B+      80
Issuer not cooperating
Den Networks Ltd                        FB TL                 ICRA A       5256    Outstanding
Den Networks Ltd                        FB Working Capital    ICRA A       1050    Outstanding
                                        Fac
Den Networks Ltd                        Unallocated Limits    ICRA A / A1  36      Outstanding
Ecl Finance Ltd                         Retail NCD Programme  ICRA AA      20000   Outstanding
Ecl Finance Ltd                         NCD Programme         ICRA AA      73500   Outstanding
Ecl Finance Ltd                         Subordinated Debt     ICRA AA      11500   Outstanding
                                        Programme
Ecl Finance Ltd                         Bk Lines              ICRA AA      110000  Outstanding
                                                              /ICRA A1+
Ecl Finance Ltd                         LT Principal          PP-MLD ICRA  3000    Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme (Unsecured and Subordinated)
Ecl Finance Ltd                         LT Principal          PP-MLD ICRA  23500   Outstanding
                                        Protected Market      AA
                                        Linked Debenture Programme
Edelweiss Commodities Services          NCD Programme         ICRA AA      10000   Assigned
Ltd
Edelweiss Commodities Services          NCD Programme         ICRA AA      50000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Haran Chandra Cold Storage Pvt          FBL                   ICRA D       171.9
Ltd
Reaffirmed and removed from ‘Issuer Not Cooperating’ category
Haran Chandra Cold Storage Pvt          Non-FBL               ICRA D       2.5
Ltd
Reaffirmed and removed from ‘Issuer Not Cooperating’ category
Haran Chandra Cold Storage Pvt          Unallocated limits    ICRA D       0.6
Ltd
Reaffirmed and removed from ‘Issuer Not Cooperating’ category
Manibhavnam Home Finance India          LT Bk Lines           ICRA BB+     150     Assigned
Pvt. Ltd.
Mayajaal Entertainment Ltd              LT fund based facilityICRA B-      450
Assigned/ Outstanding
Techno Electric & Engineering           FB Fac                ICRA AA      2010    Assigned
Co. Ltd
Techno Electric & Engineering           Non-FB Fac            ICRA AA      3340    Assigned
Co. Ltd
Techno Electric & Engineering           FB Fac                ICRA AA      -       Assigned
Co. Ltd
Techno Electric & Engineering           Non-FB Fac            ICRA AA      -       Assigned
Co. Ltd
Tema India Ltd                          TL                    ICRA BBB     48.6    Reaffirmed
Tema India Ltd                          FBL                   ICRA BBB     675     Reaffirmed
Tema India Ltd                          Non-FBL               ICRA BBB /   2985    Reaffirmed
                                                              ICRA A3+
Union Bank Of India                     Basel II Compliant    ICRA AA      2000    Outstanding
                                        Innovative Perpetual
                                        Debt instruments
Union Bank Of India                     Lower Tier II Bonds – ICRA AA+     8000    Outstanding
                                        Basel II

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