May 24, 2018 / 11:36 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-May 24

 (Repeating to add additional ratings as of May 23, 2018)
    May 24 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 23, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aequs Automotive Pvt Ltd                FBL                   ICRA A3+     40      Withdrawn
Aequs Automotive Pvt Ltd                Non-FBL               ICRA A3+     10      Withdrawn
Indian Potash Ltd                       ST: Non-FB Fac        ICRA A1+     69500   Outstanding
Indian Potash Ltd                       ST: CP                ICRA A1+     8000    Outstanding
L.G. Balakrishnan & Bros Ltd            ST: Non-FB Fac        ICRA A1+     850     Outstanding
Prince Enterprises                      Non-fund              ICRA A4      85      Reaffirmed
                                        based-Working Capital
                                        Fac
Magadhprecision Equipmentltd            ST-Non Fund Based     ICRA D       250     -
(ISSUER NOT COOPERATING)
The Ramco Cements Ltd                   ST non-fund based     ICRA A1+     4350    Outstanding
The Ramco Cements Ltd                   CP                    ICRA A1+     8250    Outstanding
The Ramco Cements Ltd                   ST fund based         ICRA A1+     2500    Outstanding
Falcon Pumps Pvt Ltd                    ST Non-FB – BG        ICRA A2      2.8     Reaffirmed
Green Infra Wind Energy Ltd             CP                    ICRA A1+     5000    Assigned
New Palsana Industrial Co-Op            Non-fund based-BG     ICRA A4      90      outstanding
Society Ltd
Sunair Hotels Ltd                       Non-fund Based        ICRA A2+     5       Reaffirmed
Sunair Hotels Ltd                       Unallocated           ICRA A2+     250     Reaffirmed
Tata Capital Financial                  CP Programme          ICRA A1+     150000
Services Ltd
Assigned/ outstanding
Tata Capital Financial                  ST Loans              ICRA A1+     21250   outstanding
Services Ltd
Tata Capital Housing Finance            CP Programme          ICRA A1+     80000
Ltd
Assigned/ outstanding


MEDIUM TERM RATINGS:
-------------------
L.G. Balakrishnan & Bros Ltd            FD Programme          MAA-         400     Reaffirmed


LONG TERM RATINGS:
-------------------
Aequs Automotive Pvt Ltd                TL                    ICRA BBB     34.8    Outstanding
Bharat Financial Inclusion Ltd          PTC Series A1         ICRA AA      695     Withdrawn
- India Microfinance Loan
Receivables Trust Jun-16
Bharat Financial Inclusion Ltd          PTC Series A1         Provisional  4068.7  Confirmed as
- Indian Microfinance Loan                                    ICRA AA              final
Receivables Trust Jan 2018
Indian Potash Ltd                       LT: FB Fac            ICRA A+      11000   Outstanding
Indian Potash Ltd                       NCD (NCDs)            Provisional  3000    Assigned
                                                              ICRA AA-
L.G. Balakrishnan & Bros Ltd            FB-TL                 ICRA AA-     722.5   Outstanding
L.G. Balakrishnan & Bros Ltd            FB-Working Capital FacICRA AA-     800     Outstanding
Magadhprecision Equipmentltd            Fund based-CC         ICRA D       500     -
(ISSUER NOT COOPERATING)
Prince Enterprises                      Fund based-Working    ICRA BB-     25**    Reaffirmed
                                        Capital Fac
**One-way interchangeability from CC to Letter of Credit cum Buyers Credit(LC/BC)
Rainbow Devices Trust                   PTCs                  ICRA AAA     15000   Confirmed as
                                                                                   final
Rainbow Devices Trust                   PTCs                  ICRA AAA     35000   Withdrawn
The Ramco Cements Ltd                   TL                    ICRA AA+     1500    Assigned
The Ramco Cements Ltd                   LT fund based         ICRA AA+     7000    Outstanding
The Ramco Cements Ltd                   NCD                   ICRA AA+     -       Withdrawn
Bhansali Diamonds                       LT/ ST Fundbased      ICRA BB- /   285
                                        Limits                ICRA A4
Assigned/ outstanding
Falcon Pumps Pvt Ltd                    LT FB -CC             ICRA BBB+    375     Reaffirmed
Falcon Pumps Pvt Ltd                    LT FB – TL            ICRA BBB+    46.5    Reaffirmed
Grant Thornton India Llp                Fund based - Working  ICRA A       195     outstanding
                                        Capital Fac
Grant Thornton India Llp                Non-fund based - BG   ICRA A       100
outstanding/ Assigned
Green Infra Wind Energy Ltd             Overdraft             ICRA         2000    outstanding
                                                              AA-(SO)
Green Infra Wind Energy Ltd             BG                    ICRA         2000    outstanding
                                                              AA-(SO) /
                                                              ICRA A1+(SO)
New Palsana Industrial Co-Op            Fund based-TL         ICRA BB-     72.1    outstanding
Society Ltd
New Palsana Industrial Co-Op            Unallocated           ICRA BB-/    527.9   outstanding
Society Ltd                                                   ICRA A4
Sri Jayarama Motors Pvt Ltd             CC                    ICRA BB / A4 97.5
Issuer not cooperating
Sri Jayarama Motors Pvt Ltd             TL                    ICRA BB / A4 10.9
Issuer not cooperating
Sri Jayarama Motors Pvt Ltd             BG                    ICRA BB / A4 10
Issuer not cooperating
Sri Jayarama Motors Pvt Ltd             Unallocated           ICRA BB / A4 1.6
Issuer not cooperating
Sudhamsu Exim Pvt Ltd                   Unallocated           ICRA D       150
Issuer Not Cooperating; Rating revised from ICRA B+/ A4 and rating continues to be under ‘Issuer
Not Cooperating’ category
Sunair Hotels Ltd                       Fund based            ICRA BBB+    145     Reaffirmed
Tata Capital Financial                  Perpetual Debt        ICRA AA      10865.5 outstanding
Services Ltd                            Programme
Tata Capital Financial                  LT FBL                ICRA AA+     146250 %outstanding
Services Ltd
%includes Rs. 6,753 crore interchangeable between long-term fund-based limits and long-term
loans; #includes Rs. 800 crore interchangeable between long-term fund-based and long-term
non-fund based 
Tata Capital Financial                  LT Loans              ICRA AA+     27500   outstanding
Services Ltd
Tata Capital Financial                  LT NFBL               ICRA AA+     5000    outstanding
Services Ltd
Tata Capital Financial                  NCDs Programme        ICRA AA+     110319.3outstanding
Services Ltd
Tata Capital Financial                  Subordinated Debt     ICRA AA+     14054.5 outstanding
Services Ltd                            Programme
Tata Capital Housing Finance            NCDs Programme        ICRA AA+     24000   outstanding
Ltd
Tata Capital Housing Finance            Subordinated Debt     ICRA AA+     11000   outstanding
Ltd                                     Programme

--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below