May 22, 2019 / 11:09 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-May 22

 (Repeating to add additional ratings as of May 21, 2019)
    May 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 21, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Arvind And Rajan Constructions          ST - Non Fund Based   ICRA A4      25
Rating continues to remain under (Issuer Not Cooperating) category
C.G. Chandrappa                         ST – Non-Fund Based - ICRA A4      64
                                        BG
Rating continues to remain under (Issuer Not Cooperating) category
Cil Nova Petrochemicals Ltd             Non-FBL               ICRA A2+(SO) 156.5
Rating continues to remain under (Issuer Not Cooperating) category
Kotak Securities Ltd                    ST Fund Based Bk      ICRA A1+     0       Withdrawn
                                        Lines Programme
Kotak Securities Ltd                    ST Non-Fund Based Bk  ICRA A1+     0       Withdrawn
                                        Lines Programme
Kotak Securities Ltd                    CP Programme          ICRA A1+     40000   outstanding
Laxmi Transmissions                     ST Non fund based     ICRA A4      300
Rating continues to remain under (Issuer Not Cooperating) category
Lof Constructions                       ST - Non-Fund Based   ICRA A4      25
Rating continues to remain under (Issuer Not Cooperating) category
Nandan Terry Pvt Ltd                    Non-FB Limits         ICRA A4+     
Rating continues to remain under (Issuer Not Cooperating) category
Shivani Trendz Pvt Ltd                  Foreign Bill          ICRA A4      125     Withdrawn
                                        Discounting
(Issuer Not Cooperating)
Shivani Trendz Pvt Ltd                  BG and Export         ICRA A4       -      Withdrawn
                                        Packing Credit^
(Issuer Not Cooperating)^interchangeable sub-limits of foreign bill discounting 
Tata Steel Ltd                          CP                    ICRA A1+     150000  outstanding
IDFC First Bank Ltd (Erstwhile          CP*                   ICRA A1+     70000   Reaffirmed
IDFC Bank Ltd)
* Taken over from erstwhile Capital FIRST Limited and Capital FIRST Home Finance Limited;
IDFC First Bank Ltd (Erstwhile          Certificates of       ICRA A1+     450000  Reaffirmed
IDFC Bank Ltd)                          Deposit Programme

LONG TERM RATINGS:
-------------------
Amrut Cotton Industries                 Fund Based- CC        ICRA B+      160
Rating continues to remain under (Issuer Not Cooperating) category
Amrut Cotton Industries                 Fund based- TL Trust  ICRA B+      17
                                        Name Trust Name
Rating continues to remain under (Issuer Not Cooperating) category Rating Action Rating Action
Arvind And Rajan Constructions          LT - Fund Based/ CC   ICRA BB-     25
Rating continues to remain under (Issuer Not Cooperating) category
C.G. Chandrappa                         LT – FB - Secured     ICRA BB-     50
                                        Over Draft
Rating continues to remain under (Issuer Not Cooperating) category
Cil Nova Petrochemicals Ltd             Fund Based - CC       ICRA A-(SO)  130
Rating continues to remain under (Issuer Not Cooperating) category
Good Shepherd Educational               Fund based – TL       ICRA A-      500
Trust (Good Shepherd
International School)
Reason for delay in carrying out periodic review: - Review process is underway
Good Shepherd Educational               Fund based – Working  ICRA A-      100
Trust (Good Shepherd                    Capital Fac
International School)
Reason for delay in carrying out periodic review: - Review process is underway
K.K.Kashyap Green Solar Energy          TL                    ICRA BB-     170     Reaffirmed
Producer
Kolar Paper Mills Ltd                   LT Fund based         ICRA BB      510
Rating continues to remain under (Issuer Not Cooperating) category
Kolar Paper Mills Ltd                   LT Non fund based     ICRA BB      5
Rating continues to remain under (Issuer Not Cooperating) category
Kolar Paper Mills Ltd                   LT Unallocated limits ICRA BB      230
Rating continues to remain under (Issuer Not Cooperating) category
Kotak Securities Ltd                    LT Fund Based Bk      ICRA AAA     8000    Assigned
                                        Lines
Kotak Securities Ltd                    LT Non-Fund Based Bk  ICRA AAA     4500    Assigned
                                        Lines
Kotak Securities Ltd                    Optionally            ICRA AAA     500     outstanding
                                        Convertible Debenture
                                        Programme
Laxmi Transmissions                     LT Fund based         ICRA B       100
Rating continues to remain under (Issuer Not Cooperating) category
Lof Constructions                       LT - Fund Based/ CC   ICRA B       35
Rating continues to remain under (Issuer Not Cooperating) category
Mcnroe Consumer Products Pvt            Bk Fac                ICRA BBB /   520
Ltd                                                           ICRA A3+
Reason for delay in carrying out periodic review: - (Issuer Not Cooperating)
Nandan Terry Pvt Ltd                    FB Limits             ICRA BB+     3530
Rating continues to remain under (Issuer Not Cooperating) category
Panache Exports Pvt Ltd                 Bk Loan Ratings       ICRA D       335
Reason for delay in carrying out periodic review: - (Issuer Not Cooperating)
Paramount Propbuild Pvt Ltd             BLR                   ICRA BBB     3090
Reason for delay in carrying out periodic review: - Under Process
Rajamahal International Pvt.            LT - Fund Based/ CC   ICRA B       50
Ltd.
Rating continues to remain under (Issuer Not Cooperating) category
Rajamahal International Pvt.            LT / ST - Unallocated ICRA B       30
Ltd.                                                          /ICRA A4
Rating continues to remain under (Issuer Not Cooperating) category
Rajamahal International Pvt.            LT / ST - FB/Non-Fund ICRA B       70
Ltd.                                    Based                 /ICRA A4
Rating continues to remain under (Issuer Not Cooperating) category
Rikun Manufacturing Pvt Ltd             Fund based – LT - TL  ICRA BB-     69.5    Assigned
Rikun Manufacturing Pvt Ltd             Fund based – LT - CC  ICRA BB-     15      Assigned
Rikun Manufacturing Pvt Ltd             LT – unallocated      ICRA BB-     5.5     Assigned
                                        limits
Shri Krishna Agro Industries            BLR                   ICRA B-      50
(Issuer Not Cooperating)
Shri Krishna Agro Industries            BLR                   ICRA         20
                                                              B-/ICRA A4
(Issuer Not Cooperating)
Sms Constructions                       LT – FB - CC          ICRA B       30
Rating continues to remain under (Issuer Not Cooperating) category
Sms Constructions                       LT – Non-Fundbased    ICRA B       30
Rating continues to remain under (Issuer Not Cooperating) category
Sms Constructions                       LT – Unallocated      ICRA B       40
Rating continues to remain under (Issuer Not Cooperating) category
Spandana Sphoorty Financial             PTC Series A          Provisional  1065.9
Ltd-Siri 03 2019                                              rating of
                                                              ICRA A+(SO) 
(confirmed as final)
Supreme Solar Systems                   LT – FB - CC          ICRA BB-     60
Rating continues to remain under (Issuer Not Cooperating) category
Supreme Solar Systems                   LT – FB- TL           ICRA BB-     120
Rating continues to remain under (Issuer Not Cooperating) category
Td Toll Road Pvt Ltd                    Fund Based – TL       ICRA D       3014
Rating continues to be in (Issuer Not Cooperating) category
Tk Toll Road Pvt Ltd                    Fund Based – TL       ICRA D       3709.5
Rating continues to be in (Issuer Not Cooperating) category
Tripura Natural Gas Co. Ltd             Bk Facility           ICRA A-      110
(Issuer Not Cooperating)
IDFC First Bank Ltd (Erstwhile          NCD Programme**       ICRA AA      286897.3
IDFC Bank Ltd)
Downgraded from ICRA AA+; **Non-convertible debentures (NCDs) of erstwhile IDFC Limited
reassigned to erstwhile IDFC Bank Limited (now IDFC FIRST Bank Limited – IDFC
IDFC First Bank Ltd (Erstwhile          NCD Programme         ICRA AA      100000^
IDFC Bank Ltd)
Downgraded from ICRA AA+; ^ Rs. 480 crore outstanding, balance yet to be placed
Jayant Printery Llp                     Rating                ICRA BB-
                                                              /ICRA A4
Company submitted its ‘No Default Statement’ (“NDS”) ; Removed from ‘Issuer not cooperating’
Category
--------------------------------------------------------------------------------------------
$: 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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