May 15, 2018 / 10:37 AM / 8 days ago

RPT-ICRA ratings for Indian debt instruments-May 15

 (Repeating to add additional ratings as of May 14, 2018)
    May 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 14, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
IIFL Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
IIFL Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     0       Withdrawn
                                        financing)
IIFL Wealth Finance Ltd                 CP programme          ICRA A1+     55000   outstanding
IIFL Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
IIFL Wealth Management Ltd              CP programme (IPO     ICRA A1+     0       Withdrawn
                                        financing)
IIFL Wealth Management Ltd              CP programme          ICRA A1+     5000    outstanding
Jm Financial Credit Solutions           CP programme          ICRA A1+     20000   Reaffirmed
Ltd
Righill Electrics Pvt Ltd               Non-fund based: ST    ICRA A4      15      Reaffirmed
Tata Advanced Materials Ltd             CP Programme          ICRA A1+     500     Reaffirmed
                                                              (SO)

LONG TERM RATINGS:
-------------------
Bhimavaram Municipality                 Issuer Rating         Ir BB
‘Issuer Not Cooperating’
Chilakalurupet Municipality             Issuer Rating         Ir BB
‘Issuer Not Cooperating’
Eluru Municipal Corporation             Issuer Rating         Ir BBB
‘Issuer Not Cooperating’
Everest Gold Mart Pvt Ltd               CC                    ICRA BB+     280
Assigned/Outstanding
Fine Facets India Pvt. Ltd.             ST-fund based:        ICRA D       50#
                                        Packing credit limits
Rating moved to the ‘Issuer Not Cooperating’ category; #Working capital limit ceiling and total
limit rated is Rs. 14.00 crore
Fine Facets India Pvt. Ltd.             ST-fund based: Post   ICRA D       90#
                                        shipment credit limits
Rating moved to the ‘Issuer Not Cooperating’ category; #Working capital limit ceiling and total
limit rated is Rs. 14.00 crore
Fine Facets India Pvt. Ltd.             ST-non-fund based:    ICRA D       50#
                                        Foreign LOC
                                        interchangeable limits
Rating moved to the ‘Issuer Not Cooperating’ category; #Working capital limit ceiling and total
limit rated is Rs. 14.00 crore
Frontier Raas Pvt Ltd                   Fund Based- CC        ICRA BB
‘Issuer Not Cooperating’
IIFL Wealth Finance Ltd                 NCD programme         ICRA AA      3000    outstanding
IIFL Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    outstanding
                                        programme
IIFL Wealth Finance Ltd                 LT principal          PP-MLD ICRA  2000    outstanding
                                        protected market      AA
                                        linked debenture programme
IIFL Wealth Finance Ltd                 LT principal          PP-MLD ICRA  25500   outstanding
                                        protected market      AA
                                        linked debenture programme
IIFL Wealth Management Ltd              Secured NCD programme ICRA AA      1000    outstanding
Jm Financial Credit Solutions           NCD programme*        ICRA AA      20000   Reaffirmed
Ltd
* Public issue of secured and unsecured non-convertible debentures
Jm Financial Credit Solutions           LT Bk lines           ICRA AA      35000   Reaffirmed
Ltd
Jm Financial Credit Solutions           NCD programme         ICRA AA      30000   Reaffirmed
Ltd
Jm Financial Credit Solutions           LT market linked      PP-MLD ICRA  3000    Reaffirmed
Ltd                                     debenture programme   AA
                                        (Principal Protected)
Kaprisa International Pvt. Ltd.         ST-fund based:        ICRA D       30#
                                        Packing credit limits
Rating moved to the ‘Issuer Not Cooperating’ category; # Fund based limit ceiling and total
amount rated is Rs. 6.00 crore
Kaprisa International Pvt. Ltd.         ST-fund based: Post   ICRA D       50#@
                                        shipment credit limits
Rating moved to the ‘Issuer Not Cooperating’ category; # Fund based limit ceiling and total
amount rated is Rs. 6.00 crore; @ Consists advance against direct bills sub-limit of Rs. 2.50
crore and foreign letter of credit sub-limit of Rs. 1.50 crore rated       D ISSUER NOT
COOPERATING on the short-term scale
Krishna Kanhaiyya Milk                  LT, fund based – TL   ICRA B+      71
Processing Pvt Ltd
Issuer delayed in giving information
Krishna Kanhaiyya Milk                  LT, fund based – CC   ICRA B+      28
Processing Pvt Ltd
Issuer delayed in giving information
Narasaraopet Municipality               Issuer Rating         Ir BB
‘Issuer Not Cooperating’
Righill Electrics Pvt Ltd               Fund based - CC – LT  ICRA B-      35
revised from ICRA B
Righill Electrics Pvt Ltd               Unallocated - LT/ ST  ICRA B-      30
revised from ICRA B/A4, Reaffirmed
Sant Foods Pvt Ltd                      FB Limits             ICRA B       150     Reaffirmed
‘Issuer Not Cooperating’
Sevoke Motors Pvt Ltd                   Bk Fac                ICRA BB      175
‘Issuer Not Cooperating’
Shree Ram Cotton Industries             FB Limits             ICRA B+      77.2
(Tankara)
Issuer not cooperating
Shree Ram Cotton Industries             Unallocated Limits    ICRA B+ /A4  9.1
(Tankara)
Issuer not cooperating
Silver Crest Clothing Pvt Ltd           Bk Fac                ICRA A/ A1
‘Issuer Not Cooperating’
Tadepalligudem Municipality             Issuer Rating         Ir BB
‘Issuer Not Cooperating’
Tata Advanced Materials Ltd             Bk Limits             ICRA A+ /    4100    Outstanding
                                                              ICRA A1
Value Plus Retail Pvt Ltd               Fund Based- CC        ICRA BB+     200
Issuer delayed in giving information
Vijayawada Municipal                    Issuer Rating         Ir A-
Corporation
‘Issuer Not Cooperating’
Frontier Raas Pvt Ltd                   Fund Based-CC         ICRA BB      200
Issuer not cooperating

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