May 23, 2018 / 11:10 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-May 23

 (Repeating to add more ratings)
   May 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 22, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Active Char Products Pvt Ltd            ST: Non-FB Fac        ICRA A4      5       Reaffirmed
Anantha Seafoods Pvt Ltd                ST Non-FB Limits      ICRA A4      8.4     Withdrawn
(Formerly Supran Exim Pvt Ltd)
Carlton Overseas Pvt Ltd                ST: FBL               ICRA A4+     75      -
Reason for delay in carrying out periodic review:- Issuer delayed in giving information
Carlton Overseas Pvt Ltd                ST: Unallocated LimitsICRA A4+     2.5     -
Reason for delay in carrying out periodic review:- Issuer delayed in giving information
Cochin Surfactants Pvt Ltd              LT and ST:            ICRA A4      -       Withdrawn
                                        Unallocated limit
Ece Industries Ltd                      ST: Non- FBL          ICRA A2      1200    -
Reason for delay in carrying out periodic review: - Review process is underway
Endurance Technologies Ltd              CP                    ICRA A1+     1000
Reason for delay in carrying out periodic review:- Review process is underway
Honest Derivatives Pvt Ltd              Non- Fund Based       ICRA A2      35      Reaffirmed
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       Assigned
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 91 Days Plan Z
Icici Prudential Asset                  ICICI Prudential      ICRA A1+mfs  -       outstanding
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 103 Days Plan O
Indo German Carbons Ltd                 ST: Non-FB Fac        ICRA A4      5       Reaffirmed
Indostar Capital Finance Ltd            CP                    ICRA A1+     12500   -
Punjab National Bank                    CDs                   ICRA A1+,    600000  Reaffirmed
Quadgen Wireless Solutions Pvt          ST – Unallocated      Provisional  1000    -
Ltd                                                           ICRA A3 (SO)
Radha Madhav Exim Ltd                   Non-fund Based -      ICRA A3 (S)  195     Reassigned
                                        Working                                    from ICRA
                                                                                   A3+ (SO)
Santosh & Associates                    ST Non-Fund Based/BG  ICRA A4      15      Assigned
Shri Tradco Deesan Pvt Ltd              Non- Fund Based       ICRA A2      50      Reaffirmed
Sindhu Cargo Services Pvt Ltd           Non-FB Fac            ICRA A4+     20      -
Rating moved to ‘(Issuer not cooperating)’ category
Sun Photo Voltaic Energy India          Short-TL              ICRA A1+     -       Withdrawn
Pvt Ltd                                                       (SO)
Sun Photo Voltaic Energy India          Non-FBL               ICRA A1+     -       Withdrawn
Pvt Ltd                                                       (SO)
Asian Construction Company              BG                    ICRA A3      250     Reaffirmed


LONG TERM RATINGS:
-------------------
Active Char Products Pvt Ltd            LT: FB Fac            ICRA BB      120     Reaffirmed
Ambey Metallic Ltd                      BLR                   ICRA B+ /    300     -
                                                              ICRA A4
Reason for delay in carrying out periodic review - (Issuer not cooperating)
Anantha Seafoods Pvt Ltd                LT- Export Packaging  ICRA BB-     150     Withdrawn
(Formerly Supran Exim Pvt Ltd)          Credit
Anantha Seafoods Pvt Ltd                LT- CC                ICRA BB-     10      Withdrawn
(Formerly Supran Exim Pvt Ltd)
Anantha Seafoods Pvt Ltd                LT- Unallocated LimitsICRA BB-     1.6     Withdrawn
(Formerly Supran Exim Pvt Ltd)
Asian Construction Company              Overdraft             ICRA BBB-    200     Reaffirmed
Carlton Overseas Pvt Ltd                LT: Non- FBL          ICRA BB+     47.5    -
Reason for delay in carrying out periodic review:- Issuer delayed in giving information
Carlton Overseas Pvt Ltd                LT: FBL               ICRA BB+     25      -
Reason for delay in carrying out periodic review:- Issuer delayed in giving information
Cochin Surfactants Pvt Ltd              LT: FB Fac            ICRA BB      75      Reaffirmed
Ece Industries Ltd                      LT: FBL               ICRA BBB     100     -
Reason for delay in carrying out periodic review:- Review process is underway
Fortis Healthcare Holdings Pvt          Non-convertible       ICRA D       4900    Rating
Ltd                                     Debentures                                 downgraded
                                                                                   from ICRA B+;
                                                                                   rating
                                                                                   continues
                                                                                   to remain in
                                                                                   ‘Issuer Not
                                                                                   Cooperating’ 
                                                                                   category
Fortis Healthcare Holdings Pvt          CP/ST Debt            ICRA D       5000    Rating
Ltd                                                                                downgraded
                                                                                   from ICRA A4;
                                                                                   rating
                                                                                   continues
                                                                                   to remain in
                                                                                   ‘Issuer Not
                                                                                   Cooperating’ 
                                                                                   category
Honest Derivatives Pvt Ltd              Fund based-TL         ICRA BBB+    240     Reaffirmed
Honest Derivatives Pvt Ltd              Fund based- Working   ICRA BBB+    580     Reaffirmed
                                        Capital Fac          
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Fixed Maturity - Plan
                                        – Series 82 – 1185 Days Plan I
Icici Prudential Asset                  ICICI Prudential ST   ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Plan -
Icici Prudential Asset                  ICICI Prudential      ICRA AAAmfs  -       outstanding
Management Co. Ltd                      Dynamic Bond - Fund
Icici Prudential Asset                  ICICI Prudential      ICRA AAmfs   -       outstanding
Management Co. Ltd                      Corporate Bond - Fund
Indo German Carbons Ltd                 LT: FB Fac            ICRA BB      100     Reaffirmed
Manoj Trading Co.                       BLR                   ICRA B+ /    300     -
                                                              ICRA A4
Nilon’S Enterprises Pvt Ltd             BLR                   ICRA BBB-/A3 -       -
Popuri Steels Ltd                       LT – Fund Based       ICRA B-      100     -
Punjab National Bank                    Infrastructure Bonds  ICRA AA-     -       Downgraded
                                        Programme Fixed                            from ICRA
                                        Deposit Programme                          AA+@ MAA 
@ -rating watch with negative implications
Punjab National Bank                    Basel III Compliant   ICRA         10000   Downgraded
                                        Tier II Bonds         AA-(hyb)             from ICRA
                                                                                   AA+@
@ -rating watch with negative implications
Pvp Developers                          Fund Based            ICRA B       100     Assigned
Quadgen Wireless Solutions Pvt          LT – Unallocated      Provisional  200     -
Ltd                                                           ICRA BBB-
                                                              (SO)
Radha Madhav Exim Ltd                   Fund based- Working   ICRA BBB-    5       Reassigned
                                        Capital Fac           (S)                  from ICRA
                                                                                   BBB(SO)
Sanghavi Foods Pvt Ltd                  BLR                   ICRA BBB-/A3 -       -
Santosh & Associates                    LT Fund Based/CC      ICRA B+      50      Assigned
Shri Tradco Deesan Pvt Ltd              Fund based-TL         ICRA BBB+    710     Reaffirmed
Shri Tradco Deesan Pvt Ltd              Fund based- Working   ICRA BBB+    780     Reaffirmed
                                        Capital Fac
Sindhu Cargo Services Pvt Ltd           Unallocated Fac       ICRA BB+     217.9   -
Rating moved to ‘(Issuer not cooperating)’ category
Sindhu Cargo Services Pvt Ltd           LT- Fund Based        ICRA BB+     360     -
                                        Facility
Rating moved to ‘(Issuer not cooperating)’ category
Sindhu Cargo Services Pvt Ltd           LT– TL                ICRA BB+     152.1   -
Rating moved to ‘(Issuer not cooperating)’ category
Suntana Textile Mills Pvt Ltd           BLR                   ICRA B- /    129.5   -
                                                              ICRA A4
Reason for delay in carrying out periodic review- (Issuer not cooperating)
Uttara Impex Pvt Ltd                    BLR                   ICRA         170     -
                                                              BBB-(SO)
Reason for delay in carrying out periodic review:- (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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