May 31, 2018 / 11:11 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-May 31

 (Repeating to add additional ratings as of May 30, 2018)
    May 31 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 30, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ankit Diamonds                          Bk Loan               ICRA A4      500
Reason for delay in carrying out periodic review - Review process is underway
Arkiton Tiles Llp                       Non-fund Based – BG   ICRA A4      13.5    Assigned
Baldovino                               Bk Loan               ICRA A4      100
Reason for delay in carrying out periodic review - Review process is underway
Biological E. Ltd                       ST, Non-FB Fac        ICRA A1+     1400    Reaffirmed
Dcm Shriram Ltd                         Non-FBL               ICRA A1+     6860    Reaffirmed
Dcm Shriram Ltd                         CP Programme          ICRA A1+     8000    Reaffirmed
Housing & Urban Development             CP programme          ICRA A1+     85000   Assigned
Corporation Ltd.
Ifci Ltd                                CP Programme          ICRA A2+     5000    Downgraded
                                                                                   from ICRA A1
Indiabulls Housing Finance Ltd          CP Programme          ICRA A1+     250000  Assigned
J R Foods Ltd                           ST: Non-FB Fac        ICRA A4      357.5   Reaffirmed
Jambuwala Commodities Pvt Ltd           ST Fund Based         ICRA A4      80      Reaffirmed
Jambuwala Commodities Pvt Ltd           ST unallocated        ICRA A4      60      Reaffirmed
Jambuwala Commodities Pvt Ltd           ST- Non-Fund Based CPAICRA A4      260     Reaffirmed
Kothari Metals Ltd                      Non-Fund Based - BG   ICRA A2+     -       Upgraded
                                                                                   from ICRA A2
Kothari Metals Ltd                      Non-Fund Based- LOC   ICRA A2+     1675    upgraded
                                                                                   from ICRA A2
Marbilano Tiles Llp                     Non-fund Based -BG    ICRA A4      20      Reaffirmed
Newage Fire Protection                  Fund Based sub-limits ICRA A4+     -       Reaffirmed
Industries Pvt Ltd
Newage Fire Protection                  Non-FBL               ICRA A4+     55      Reaffirmed
Industries Pvt Ltd
Newage Fire Protection                  Non-fund Based        ICRA A4+     -       Reaffirmed
Industries Pvt Ltd                      sub-limits
Nitin Kitchenware India Pvt Ltd         ST – FB               ICRA A4      100
(Issuer Not Cooperating)
Ridhi Enterprises                       Non-fund based        ICRA A4      50      Withdrawn
Salicylates And Chemicals Pvt           NFBL                  ICRA A3      70
Ltd
(Issuer Not Cooperating)
Tata Power Delhi Distribution           ST Debt               ICRA A1+     2000    Outstanding
Ltd
Tata Power Delhi Distribution           CP                    ICRA A1+     5000    Assigned
Ltd
Tata Power Delhi Distribution           Non-fund based -      ICRA A1+     8200    Outstanding
Ltd                                     Working Capital Fac
Yogesh Construction                     Non-fund based        ICRA A4      50      Withdrawn
(Issuer Not Cooperating)
Excel Foods Pvt Ltd                     ST – Non Fund Based   ICRA A4      5
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Vikas Telecom Pvt Ltd                   BG                    ICRA A3+     100
Reassigned from ICRA BBB+(SO)
Vikas Telecom Pvt Ltd                   LOC                   ICRA A3+     1050
Reassigned from ICRA A3+(SO)
Vikas Telecom Pvt Ltd                   ST Loan               ICRA A3+     1500    Assigned
Vikas Telecom Pvt Ltd                   Forward Contract      ICRA A3+     52.5    Assigned
Vikas Telecom Pvt Ltd                   Unallocated           ICRA A3+     8.4     Assigned

MEDIUM TERM RATINGS:
-------------------
Dcm Shriram Ltd                         Fixed Deposit         MAA+         400     Reaffirmed
                                        Programme
Housing & Urban Development             Fixed Deposit         MAAA         -       Outstanding
Corporation Ltd.                        Programme

LONG TERM RATINGS:
-------------------
Arkiton Tiles Llp                       FB – TL               ICRA B+      69.5    Assigned
Arkiton Tiles Llp                       FB – CC               ICRA B+      35      Assigned
Biological E. Ltd                       Proposed NCD ProgrammeICRA AA      -       Withdrawn
Biological E. Ltd                       Long-TL               ICRA AA      -       Re-affirmed
Biological E. Ltd                       LT, FB Fac            ICRA AA      1000    Reaffirmed
Biological E. Ltd                       LT / ST, FB / Non-FB  ICRA AA /    1780    Reaffirmed
                                        Fac                   ICRA A1+
Biological E. Ltd                       LT / ST, Unallocated  ICRA AA /    500     Reaffirmed
                                        Fac                   ICRA A1+
Dcm Shriram Ltd                         TL                    ICRA AA      1792.9  Reaffirmed
Dcm Shriram Ltd                         FBL                   ICRA AA      8700    Reaffirmed
Dcm Shriram Ltd                         Unallocated           ICRA         4497.1  Reaffirmed
                                                              AA/ICRA A1+
Devanga Sangha                          LT – TL               ICRA BB-     110     Upgraded
                                                                                   from ICRA B+
G.D. Metsteel Pvt Ltd                   LT, fundbased limits  ICRA B       180
(Issuer Not Cooperating)
G.D. Metsteel Pvt Ltd                   Unallocated Limits    ICRA B       50
(Issuer Not Cooperating)
Gokak Power & Energy Ltd                FBL – TL              ICRA A-      860
                                                              (SO)
Reason for delay in carrying out periodic review:Review process is underway
Goswami Infratech Pvt Ltd               NCD                   ICRA         6000
                                                              AA+(SO)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Goswami Infratech Pvt Ltd               NCD                   ICRA         3600
                                                              AA+(SO)
Reason for delay in carrying out periodic review: Issuer delayed in giving information
Housing & Urban Development             LT borrowing          ICRA AAA     400000  Assigned
Corporation Ltd.                        programme FY2019
Housing & Urban Development             Subordinated Debt     ICRA AAA             Assigned
Corporation Ltd.                        (Sub-limit of Lo ng
                                        Term Borrowing Programme FY2019)
Housing & Urban Development             Non-fund based – LT   ICRA AAA     12375.6 Assigned
Corporation Ltd.
Housing & Urban Development             Previous year rated   ICRA AAA     158650  Outstanding
Corporation Ltd.                        borrowing programme1
Housing & Urban Development             Fund based – LT/ST    ICRA AAA     85912.2 Assigned
Corporation Ltd.                                              /A1+
Housing & Urban Development             Unallocated           ICRA AAA     51712.2 Assigned
Corporation Ltd.                                              /A1+
Icomm Tele Ltd                          BLR                   ICRA D       23906.4
Reason for delay in carrying out periodic review – Review Process is Under Way
Ifci Ltd                                FB Bk Limits          ICRA BBB+    100000  Downgraded
                                                                                   from ICRA A-
Ifci Ltd                                LT Bonds (including   ICRA BBB+    40280.8 Downgraded
                                        Subordinated Debt)                         from ICRA A-
* Outstanding as on March 31, 2018
Ifci Ltd                                Bonds/NCD (NCD)       ICRA BBB+    20000   Downgraded
                                        Programme (Public                          from ICRA A-
                                        Issue)
Indiabulls Housing Finance Ltd          Retail Bonds ProgrammeICRA AAA     150000  Assigned
Indiabulls Housing Finance Ltd          Subordinated Debt     ICRA AAA     50000   outstanding
                                        Programme
Indiabulls Housing Finance Ltd          NCD Programme         ICRA AAA     452000  outstanding
Indiabulls Housing Finance Ltd          LT Bk Fac             ICRA AAA     470000  outstanding
J R Foods Ltd                           LT/ST: Unallocated    -            -       -
J R Foods Ltd                           LT: FB Fac            ICRA BB-     117     Reaffirmed
Kothari Metals Ltd                      Fund Based - CC       ICRA BBB+    15      Upgraded
                                                                                   from ICRA BBB
Marbilano Tiles Llp                     FB -TL                ICRA B+      140.8   Upgraded
                                                                                   from ICRA B
Marbilano Tiles Llp                     FB -CC                ICRA B+      70      Upgraded
                                                                                   from ICRA B
Marbilano Tiles Llp                     Unallocated           ICRA B+/     9.2     Upgraded
                                                              ICRA A4              from ICRA B
                                                                                   /Reaffirmed
Newage Fire Protection                  FBL                   ICRA BB /    63      Reaffirmed
Industries Pvt Ltd                                            ICRA A4+
Newage Fire Protection                  Unallocated Limits    ICRA BB /    30.5    Reaffirmed
Industries Pvt Ltd                                            ICRA A4+
Pokaran Solaire Energy Pvt Ltd          LT – TL               ICRA A-      300     Withdrawn
Ridhi Enterprises                       Fund based            ICRA B       5       Withdrawn
Salicylates And Chemicals Pvt           CC                    ICRA BBB-    230
Ltd
(Issuer Not Cooperating)
Shree Ramkrushna Ginning And            CC                    ICRA BB-     99
Oil Industries
Reason for delay in carrying out periodic review:Review process in underway
Sundaram Bnp Paribas Home               Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
Finance Ltd-Sbphfl Mortgage
Loan Pool D.A. Feb-11
Sundaram Bnp Paribas Home               Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
Finance Ltd-Sbphfl Mortgage
Loan Pool D.A. Feb-12
Sundaram Bnp Paribas Home               Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
Finance Ltd-Sbphfl Mortgage
Loan Pool D.A. Mar-12
Svm Cera Pvt Ltd                        FB – CC               ICRA D       55
(Issuer Not Cooperating)
Svm Cera Pvt Ltd                        Non-fund Based – LOC  ICRA D       28
(Issuer Not Cooperating)
Svm Cera Pvt Ltd                        Non-fund Based – BG^  ICRA D       -       
^Sublimit of Letter of Credit/(Issuer Not Cooperating)
Svs Food Processors Pvt Ltd             CC                    ICRA B-      55
(Issuer Not Cooperating)
Svs Food Processors Pvt Ltd             TL                    ICRA B-      15
(Issuer Not Cooperating)
Tata Power Delhi Distribution           Fund based - TL       ICRA AA-     35550   Outstanding
Ltd
Tata Power Delhi Distribution           Fund based - Working  ICRA AA-     4950    Outstanding
Ltd                                     Capital Fac
The Oriental Insurance Company          CPA                   IAAA         -       Reaffirmed
Ltd.
Tripura Ispat                           FB – CC               ICRA BBB-    120     Withdrawn
(Issuer Not Cooperating)
Virgo Decors Pvt Ltd                    FB Limits             ICRA A       450     Assigned
                                                                                   /Outstanding
Virgo Decors Pvt Ltd                    Non-FBL               ICRA A/A1    100     Outstanding
Yogesh Construction                     Fund based            ICRA B+      40      Withdrawn
(Issuer Not Cooperating)
Excel Foods Pvt Ltd                     LT – Fund based       ICRA BB      140
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Excel Foods Pvt Ltd                     LT – TL               ICRA BB      5
Issuer Not Cooperating; Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sjs Enterprises Pvt Ltd                 LT – FB – Working     ICRA A-      295
                                        capital Limits
Review process is underway
Sjs Enterprises Pvt Ltd                 LT -Unallocated       ICRA A-      75
Review process is underway
Vikas Telecom Pvt Ltd                   LT Loans              ICRA         11310.4 Reaffirmed
                                                              BBB+(SO)
--------------------------------------------------------------------------------------------
$: 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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