May 16, 2018 / 10:29 AM / 3 days ago

RPT-ICRA ratings for Indian debt instruments-May 16

 (Repeating to add additional ratings)
    May 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 15, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bds Projects India Pvt Ltd              Non-Fund based - BG   ICRA A4      72.5    Removed from
                                                                                   Issuer not
                                                                                   Cooperating
                                                                                   and Withdrawn
United Concepts & Solutions             ST - Non Fund Based   ICRA D       7.5     -
Pvt Ltd
(Issuer not cooperating)
Canara Robeco Asset Management          Canara Robeco Savings ICRA A1+mfs  -       outstanding
Co. Ltd                                 Fund (erstwhile
                                        Canara Robeco Savings Plus Fund)
Canara Robeco Asset Management          Canara Robeco Liquid  ICRA A1+mfs  -       outstanding
Co. Ltd                                 Fund (erstwhile
                                        Canara Robeco Liquid)
Dsp Blackrock Investment                DSP BlackRock Fixed   ICRA A1+mfs          Withdrawn
Managers Pvt Ltd                        Maturity Plan Series
                                        225 – 3M
Dsp Blackrock Investment                DSP BlackRock Fixed   ICRA A1+mfs          outstanding
Managers Pvt Ltd                        Maturity Plan Series
                                        222 – 3M
Dwarikesh Sugar Industries Ltd          CP                    ICRA A1+     3000    Reaffirmed
Grotech Landscape Developers            ST Non Fund Based – BGICRA A4+     140     -
Pvt Ltd
(Issuer not cooperating)
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     35000   Assigned
                                        Financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     7500    outstanding
Kuber Texlen Pvt. Ltd                   BG                    ICRA A4      2.5     -
Rating Moved to (Issuer not cooperating) Category
Mahakoshal Refractories Pvt Ltd         BG Limit              ICRA A3+     50      Withdrawn
Mahakoshal Refractories Pvt Ltd         Bill Discounting LimitICRA A3+     110     Withdrawn
MG Well Solutions Project               Non-Fund based- Bk    ICRA A4      40      Withdrawn
International Pvt Ltd
MG Well Solutions Project               Guarantee/LOC         ICRA A4      40      Withdrawn
International Pvt Ltd
MG Well Solutions Project               Non-Fund based- LOC   ICRA A4              Withdrawn
International Pvt Ltd
Neel Metal Products Ltd                 CP/ ST Debt           ICRA A1      1000    outstanding
Nemlaxmi Books (India) Pvt Ltd          Non-FB Fac            ICRA A4      7.2     Withdrawn
NTL Steels                              NFBL -LOC             ICRA A4+     10      Reaffirmed
NTL Steels                              NFBL –BG              ICRA A4+     20      Reaffirmed
PMJ Constructions Pvt. Ltd.             Non-FB Fac            ICRA A4      100     Reaffirmed
Yamuna Power And                        Non-FBL               ICRA A3      365     -
Infrastructure Ltd
Review in process
Fortis Healthcare Holdings Pvt          NCDs                  ICRA A4      1000    -
Ltd
(ISSUER NOT COOPERATING)
Fortis Healthcare Holdings Pvt          NCDs                  ICRA A4      500     -
Ltd
(ISSUER NOT COOPERATING)


LONG TERM RATINGS:
-------------------
Bds Projects India Pvt Ltd              Fund based - CC       ICRA B       10      Removed from
                                                                                   Issuer not
                                                                                   cooperating 
                                                                                   and Withdrawn
BDS Projects India Pvt Ltd              Unallocated Limit*    ICRA B       2.5     Removed from
                                                                                   Issuer not
                                                                                   cooperating 
                                                                                   and Withdrawn
*earlier rated as Fund based- Cash Credit
Canara Robeco Asset Management          Canara Robeco         ICRA AA+mfs  -       outstanding
Co. Ltd                                 Corporate Bond Fund
                                        (erstwhile Canara Robeco Medium Term Opportunities Fund)
Canara Robeco Asset Management          Canara Robeco Indigo  ICRA         -       Withdrawn
Co. Ltd                                 Fund                  AAAdebtmfs
Canara Robeco Asset Management          Canara Robeco ST Fund ICRA AAAmfs  -       Withdrawn
Co. Ltd
Canara Robeco Asset Management          Canara Robeco Ultra   ICRA AAAmfs  -       outstanding
Co. Ltd                                 ST Fund (erstwhile
                                        Canara Robeco Treasury Advantage Fund)
DSP Blackrock Investment                DSP BlackRock Savings ICRA AAAmfs  -       Reaffirmed
Managers Pvt Ltd                        Fund
DSP Blackrock Investment                DSP BlackRock ST Fund ICRA AAAmfs -        Reaffirmed
Managers Pvt Ltd                        -
DSP Blackrock Investment                DSP BlackRock         ICRA AAAmfs -        Reaffirmed
Managers Pvt Ltd                        Liquidity Fund -
DSP Blackrock Investment                DSP BlackRock Bking & ICRA AAAmfs -        Reaffirmed
Managers Pvt Ltd                        PSU Debt Fund
DSP Blackrock Investment                DSP BlackRock         ICRA AAAmfs -        Reaffirmed
Managers Pvt Ltd                        Strategic Bond Fund
DSP Blackrock Investment                DSP BlackRock Money   ICRA AAAmfs -        Reaffirmed
Managers Pvt Ltd                        Manager Fund
Dwarikesh Sugar Industries Ltd          TL                    ICRA A+      540.5   Reaffirmed
Dwarikesh Sugar Industries Ltd          CC                    ICRA A+      5650    Reaffirmed
Dwarikesh Sugar Industries Ltd          Non-FBL               ICRA A+      50      Reaffirmed
Dwarikesh Sugar Industries Ltd          Unallocated Limits    ICRA A+      259.4   Reaffirmed
Edward Food Research And                NCD                   ICRA B+      360     -
Analysis Centre Ltd
(Issuer not cooperating)
Fincare Small Finance Bank Ltd          PTC Series A1         ICRA A-(SO)  500     Final Rating
-Vivriti Endor 003 2018
Foods And Feeds                         Fund based -CC        ICRA D       130     -
Rating Moved to (Issuer not cooperating) Category
Indinfravit Trust                       Issuer Rating         ICRA AAA     -       -
J.J. Automotive Ltd                     Bk Fac                ICRA B+      387.5   -
                                                              /ICRA A4
(Issuer not cooperating)
J.P. Sortex Pvt Ltd                     CC                    ICRA B+      370     -
Reason for delay in carrying out periodic review: (Issuer not cooperating)
J.P. Sortex Pvt Ltd                     Unallocated           ICRA B+ /A4  30      -
Reason for delay in carrying out periodic review: (Issuer not cooperating)
Krishna Poultry Tex Mill India          LT: Fund based – CC   ICRA BB-     54      Reaffirmed
Pvt Ltd
Krishna Poultry Tex Mill India          LT: Fund based – TL   ICRA BB-     51      Reaffirmed
Pvt Ltd
Krishna Poultry Tex Mill India          LT: Unallocated       ICRA BB-     14.5    Reaffirmed
Pvt Ltd
Kuber Texlen Pvt. Ltd                   TL                    ICRA B+      15      -
Rating Moved to (Issuer not cooperating) Category
Kuber Texlen Pvt. Ltd                   CC                    ICRA B+      62.5    -
Rating Moved to (Issuer not cooperating) Category
Kuber Texlen Pvt. Ltd                   Unallocated Limits    ICRA B+      27.5    -
                                                              /ICRA A4;
Rating Moved to (Issuer not cooperating) Category
Mahakoshal Refractories Pvt Ltd         CC Limit              ICRA BBB     240.6   Withdrawn
Mahakoshal Refractories Pvt Ltd         TL                    ICRA BBB     1.1     Withdrawn
Mahakoshal Refractories Pvt Ltd         Unallocated Limit     ICRA BBB     18.3    Withdrawn
Mahesh Agri Exim Pvt Ltd                Fund based -          ICRA D       210     Rating Moved
                                        EPC(Stocks)#                               to Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   Category
# Flexibility: EPC to EBD/EBP/EBN: 50% of EPC limit
Mahesh Agri Exim Pvt Ltd                Fund based -          ICRA D       10      Rating Moved
                                        EBD/EBN/EBP+                               to Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   Category
+ EBD/EBP/EBN to EPC: 100% of EBN limit
Mahesh Agri Exim Pvt Ltd                Fund based - Advance  ICRA D               Rating Moved
                                        against bills sent on                      to Issuer
                                        collection bases(within EPC)               Not
Cooperating 
                                                                                   Category
Mahesh Agri Exim Pvt Ltd                NFBL – BG             ICRA D       12.5    Rating Moved
                                                                                   to Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   Category
Mahesh Agri Exim Pvt Ltd                NFBL – Forward        ICRA D       8       Rating Moved
                                        Contract@                                  to Issuer
                                                                                   Not 
                                                                                   Cooperating
                                                                                   Category
@FC Limit of 0.80 (2% of Notional Limits of Rs 40.00 crore)
Mg Well Solutions Project               Fund based-TL/CC      ICRA C       33.5    Withdrawn
International Pvt Ltd
Mg Well Solutions Project               Fund based – EPC/EBN  ICRA C               Withdrawn
International Pvt Ltd
Mg Well Solutions Project               Unallocated Limits    ICRA C/ICRA  17.2    Withdrawn
International Pvt Ltd                                         A4;
Navkar Lifesciences                     Fund based            ICRA BB-     267.5   -
Issuer did not co-operate; based on best available information
Neel Metal Products Ltd                 TL                    ICRA A       1716.6  Assigned/
                                                                                   Outstanding
Neel Metal Products Ltd                 FB Fac                ICRA A       3810    outstanding
                                                              /ICRA A1
Neel Metal Products Ltd                 Non-FB Fac            ICRA A       3225    Assigned/
                                                              /ICRA A1             Outstanding
Neel Metal Products Ltd                 Unallocated           ICRA A       111.8   Assigned/
                                                              /ICRA A1             Outstanding
Nemlaxmi Books (India) Pvt Ltd          FB Fac                ICRA B+      88.6    Withdrawn
Nemlaxmi Books (India) Pvt Ltd          Unallocated Limits    ICRA B+      20.4    Withdrawn
Ntl Steels                              Fund Based- TL        -            -       -
Ntl Steels                              Fund Based – CC       ICRA BB+     180     Reaffirmed
Ntl Steels                              Fund Based –          ICRA BB+     30      Reaffirmed
                                        Stand-by-Line of
                                        Credit
Ntl Steels                              Unallocated Limits    ICRA BB+     19      Reaffirmed
                                                              /ICRA A4+;
Pmj Constructions Pvt. Ltd.             FB Fac                ICRA B       50      Reaffirmed
Pmj Constructions Pvt. Ltd.             Unallocated Limits    ICRA B       20      Reaffirmed
Riddhi Agro Industries                  Bk Fac                ICRA BB- /   189.4   -
                                                              ICRA A4
(Issuer not cooperating)
Satin Creditcare Network Ltd.           PTC Series A1         ICRA A+(SO)  286     Withdrawn
- Vivriti Yoda 009 2017
Textrend Lifestyle Pvt Ltd              Fund based – CC       ICRA B       60      Withdrawn
Titagarh Municipality                   Issuer Rating         ICRA BB-     -       Assigned
Trimula Industries Ltd                  FB - Working Capital  ICRA BB+     700     Assigned
Trimula Industries Ltd                  FB – TL               ICRA BB+     1188.4  Assigned
Trimula Industries Ltd                  Non-FBL               ICRA BB+     523.9   Assigned
Trimula Industries Ltd                  Unallocated           ICRA BB+     87.7    Assigned
Trimula Industries Ltd                  Issuer Rating         ICRA BB+     -       Assigned
United Concepts & Solutions             LT - Fund Based TL    ICRA D       34.4    -
Pvt Ltd
(Issuer not cooperating)
United Concepts & Solutions             LT - Fund Based/ CC   ICRA D       62.5    -
Pvt Ltd
(Issuer not cooperating)
United Concepts & Solutions             LT - Unallocated      ICRA D       20.6    -
Pvt Ltd
(Issuer not cooperating)
Yamuna Power And                        FBL                   ICRA BBB-    320.3   -
Infrastructure Ltd
Review in process
Fortis Healthcare Holdings Pvt          NCDs                  ICRA B+      125     -
Ltd
(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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