May 10, 2019 / 11:43 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-May 10

 (Repeating to add additional ratings as of May 9, 2019)
    May 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 9, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Flexituff Ventures                      Non-fund based        ICRA A4      2930    Reaffirmed
International Ltd
Jupiter Wagons Ltd                      Non-Fund Based – LOC  ICRA A3      300     Withdrawn
(Issuer not cooperating)
Jupiter Wagons Ltd                      Non-Fund Based – BG   ICRA A3      540     Withdrawn
(Issuer not cooperating)
Jupiter Wagons Ltd                      Non-Fund Based –      ICRA A3      10      Withdrawn
                                        Derivative/ FC/CEL
(Issuer not cooperating)
Nira Life Sciences Pvt. Ltd.            Non FB – FDBN Limit   ICRA A4      5       Withdrawn
Power Grid Corporation Of               CP                    ICRA A1+     39000   Reaffirmed
India Ltd
Power Grid Corporation Of               ST borrowing programmeICRA A1+     21000   Reaffirmed
India Ltd
Power Grid Corporation Of               ST non-FBL            ICRA A1+     22000   Reaffirmed
India Ltd
S.R.S. Exports Pvt Ltd                  ST non-FBL            ICRA A4      300     Withdrawn
Simran Fisheries Pvt Ltd                Non FB Limit          ICRA A4      100     Withdrawn
Mangalore Refinery And                  Non-FBL               ICRA A1+     40000   Reaffirmed
Petrochemicals Ltd
Mangalore Refinery And                  CP / Shortterm Debt   ICRA A1+     9000    Reaffirmed
Petrochemicals Ltd


LONG TERM RATINGS:
-------------------
Creditaccess Grameen Ltd                PTC Series A          ICRA AA(SO)  -       Upgraded
-Northern Arc 2018 MFI Jorah                                                       from ICRA
                                                                                   A(SO)
Creditaccess Grameen Ltd                PTC Series A          ICRA A+(SO)  -       Upgraded
-Northern Arc 2018 MFI                                                             from ICRA
                                                                                   A(SO)
Flexituff Ventures                      TL                    ICRA C       370     Downgraded
International Ltd                                                                  from ICRA B+
Flexituff Ventures                      FB – CC               ICRA C       2890    Downgraded
International Ltd                                                                  from ICRA B+
Florida Electrical Industries           LT Fund based CC      ICRA D       75      Withdrawn
Ltd
Florida Electrical Industries           LT-Unallocated        ICRA D       5       Withdrawn
Ltd
Green Infra Wind Farms Ltd              TL                    ICRA A+      1050    Assigned
Jupiter Wagons Ltd                      Fund Based –          ICRA BBB-    50      Withdrawn
                                        Corporate Loan
(Issuer not cooperating)
Jupiter Wagons Ltd                      Fund Based – CC       ICRA BBB-    300     Withdrawn
(Issuer not cooperating)
Nira Life Sciences Pvt. Ltd.            FB – CC Limit         ICRA BB-     30      Withdrawn
Nira Life Sciences Pvt. Ltd.            FB – TL               ICRA BB-     43.9    Withdrawn
Power Grid Corporation Of               LT bonds programme    ICRA AAA     100000  Assigned
India Ltd
Power Grid Corporation Of               LT bonds programme    ICRA AAA   1064229.5 Reaffirmed
India Ltd
Power Grid Corporation Of               Working capital loan  ICRA AAA     3000    Reaffirmed
India Ltd
Power Grid Corporation Of               LT loans              ICRA AAA    453562.2 Reaffirmed
India Ltd
Rameshwar Textile Mills Ltd.            LT / ST – Unallocated -            -       Withdrawn
Rameshwar Textile Mills Ltd.            LT – Fund Based – CC  ICRA B+      150     Downgraded
                                                                                   From
                                                                                   ICRA BB-
                                                                                   removed from 
                                                                                   (Issuer not 
                                                                                   cooperating)’
                                                                                   category
S.R.S. Exports Pvt Ltd                  LT FB limit*          ICRA B+      -       Withdrawn
*Sub-limit of Short-term non-fund based limit
Spandana Sphoorty Financial             PTC Series A          ICRA AA-(SO) 1200.5  Assigned
Ltd -Abhilasha 05 2019
Mangalore Refinery And                  Issuer Rating         ICRA AAA             Reaffirmed
Petrochemicals Ltd
Mangalore Refinery And                  FBL                   ICRA AAA     16286   Reaffirmed
Petrochemicals Ltd
Mangalore Refinery And                  TL                    ICRA AAA     13714   Reaffirmed
Petrochemicals Ltd
--------------------------------------------------------------------------------------------
$: 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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