November 12, 2018 / 11:23 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Nov 12

 (Repeating to add more Ratings.)
    Nov 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 06,07,08&09 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ars Steels And Alloy                    ST: Non-FB Fac        ICRA A2      1060    Upgraded
International Pvt Ltd                                                              from ICRA A3
Asian Food Industries                   PSR Limit^            ICRA A3      100     Assigned
^ PCFC-Packing Credit in Foreign Currency, FBD-Foreign Bill Discounting, PSR-Pre Settlement Risk
Aspire Home Finance                     CP Programm           ICRA A1+     10000   Outstanding
Corporation Ltd
Autometers Energitec Ltd                Non-fund based        ICRA A4      45      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Autometers Energitec Ltd                ST Interchangeable    ICRA A4      10      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Azim Premji Trus                        CP Programme          ICRA A1+     20000   Reaffirmed
Buldana Urban Management                MFI Grading           M3           -       Assigned
Services Pvt. Ltd.
Garg Industries Ltd                     Non-FBL               ICRA A4      20      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Hasham Investment &Trading              CP Programme          ICRA A1+     10000   Reaffirmed
Company Pvt Limite
Indotech Transformers Ltd               ST –Non-fund based    ICRA A3      740     Reaffirmed
Indotech Transformers Ltd               ST –Un allocated      ICRA A3      120     Reaffirmed
                                        Limits
Karan Development Services              ST Non-fund Based     ICRA A4      577.8   Reaffirmed
Pvt. Ltd
Mahindra Intertrade Ltd                 ST, Non-FBL           ICRA A1+     3750    Assigned /
                                                                                   Outstanding
Mahindra Steel Service Centre           ST -Non Fund Based    ICRA A1+     1600    Assigned /
Ltd                                                                                Outstanding
Marikar (Motors) Ltd                    ST -Fund Based        ICRA A4+     101     Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Pricol Ltd (Erstwhile Pricol            ST –Non-fundbased     ICRA A2      210     Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol            ST – Non -fundbased-  ICRA A2      -       Outstanding
Pune Ltd)                               sublimit
Mandovi Casting Pvt Ltd                 ST NFBL               ICRA A4      46.1    Reaffirmed
Removed from ‘Issuer Not Co-operating’ category
Sharp Travels (India) Ltd               Non-fund Based        ICRA A4      2.5     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Srei Equipment Finance Ltd              CP                    ICRA A1+     10000   Outstanding
Standard Consultants Ltd                ST –Non-fund based    ICRA A4      150     -
(Rating continues to remain under ‘IssuerNot Cooperating’ category)
Tara Exports                            ST –FB                ICRA A4      230     Reaffirmed
Tarish Investment And Trading           CP Programme          ICRA A1+     5000    Reaffirmed
Company Pvt Ltd
Veto Switchgears And Cables Ltd         Non-FBL               ICRA A2      100     Assigned
Vijayalaxmi Cashew Company              ST Fund based         ICRA A3      3480    -
(Reason for delay in carrying out periodic review:Review process underway)
Vijayalaxmi Cashew Company              ST Unallocated        ICRA A3      120     -
(Reason for delay in carrying out periodic review:Review process underway)



LONG TERM RATINGS:
-------------------
Ars Steels And Alloy                    LT, FB Fac            ICRA BBB     290     Upgraded
International Pvt Ltd                                                              from ICRA
                                                                                   BBB-
Ars Steels And Alloy                    LT, ProposedTL        ICRA BBB     350     Upgraded
International Pvt Ltd                                                              from ICRA
                                                                                   BBB-
Asian Food Industries                   Export Packing        ICRA BBB-    1650    Assigned
                                        Credit/PCFC/FBD^^
^^ includes Rs. 41.00 crore as sublimit in the form of CC and Rs. 25.00 crore in the form of
overdraft
Aspire Home Finance                     Bk Lines Programme    ICRA A+      30000   Outstanding
Corporation Ltd
Aspire Home Finance                     NCD Programme         ICRA A+      19000   Outstanding
Corporation Ltd
Aspire Home Finance                     Subordinated Debt     ICRA A+      1000    Outstanding
Corporation Ltd                         Programme
Aspire Home Finance                     Market Linked         PP-MLDICRA   1000    Assigned
Corporation Ltd                         Debenture Programme   A+
Aspire Home Finance                     Market Linked         PP-MLDICRA   3000    Outstanding
Corporation Ltd                         Debenture Programme   A+
Autometers Energitec Ltd                CC                    ICRA BB-     55      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Autometers Energitec Ltd                LT Interchangeable    ICRA BB-     -       -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Bharat Financial Inclusion Ltd          PTC Series A1         Provisional  4040.9  Assigned
- Indian Microfinance Loan                                    ICRA AA
Receivablestrust November 2018 A
Bitcon India Infrastructure             LT: Fund based        ICRA BBB-    75      Withdrawn
Developers Pvt Ltd
Bitcon India Infrastructure             LT: Non-fund based    ICRA BBB-    900     Withdrawn
Developers Pvt Ltd
Cholamandalam Investment And            PTC Series A          ICRA AAA     -       Withdrawn
Finance Companyltd - Platinum
Trust June 2016
Eastman Mettcast Ltd                    CC                    ICRA C+      150     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Eastman Mettcast Ltd                    TL                    ICRA C+      20      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Garg Industries Ltd                     FB limits             ICRA B       220     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Govindbhawan -Karyalaya                 Fund based-TL         ICRA BB      65      Reaffirmed
Govindbhawan -Karyalaya                 Fund Based-CC         ICRA BB      75      Reaffirmed
Hyderabad Metropolitan Water            LT Unallocated        ICRA BB+     10000   Assigned
Supply Andsewerage Board
Indotech Transformers Ltd               LT –Fund based / CC   ICRA BBB-    65      Reaffirmed
Indotech Transformers Ltd               Issuer Rating         ICRA BBB-    -       Reaffirmed
International Fresh Farm                CC                    ICRA D       130     -
Products India Ltd
(Rating moved to ‘Issuer Not Cooperating’ category)
International Fresh Farm                TL                    ICRA D       170     -
Products India Ltd
(Rating moved to ‘Issuer Not Cooperating’ category)
Jk Paper Ltd                            LT FB                 ICRA A       1220    Withdrawn
Jk Paper Ltd                            LT unallocated        ICRA A       280     Withdrawn
Karan Development Services              LT FB CC              ICRA BB-     56.5    Reaffirmed
Pvt. Ltd
Karan Development Services              LT FB TL              ICRA BB-     43.5    Reaffirmed
Pvt. Ltd
Karan Development Services              LT/ ST -Unallocated   ICRA BB-/A4  302.2   Reaffirmed
Pvt. Ltd
Krishnaiah Motors Pvt Ltd               Fund based -CC        ICRA BB-     150     Upgraded
                                                                                   from ICRA B+
removed from Issuer not cooperating category
Mandovi Casting Pvt Ltd                 LT FBL                ICRA B       27.6    Downgraded
                                                                                   from ICRA BB-
Removed from ‘Issuer Not Co-operating’ category
Mandovi Casting Pvt Ltd                 Unallocated limit     ICRA B       4.4     Downgraded /
                                                              /ICRA A4             Reaffirmed
Removed from ‘Issuer Not Co-operating’ category
Krishnaiah Motors Pvt Ltd               Unallocated Limits    ICRA BB-     95      Upgraded
                                                                                   from ICRA B+
removed from Issuer not cooperating category
Mahindra Intertrade Ltd                 LT, FB Limits         ICRA AA+     400     Assigned /
                                                                                   Outstanding
Mahindra Steel Service Centre           LT -Fund Based / CC   ICRA AA-     650     Assigned /
Ltd                                                                                Outstanding
Mahindra Steel Service Centre           LT -Fund Based TL     ICRA AA-     500     Assigned /
Ltd                                                                                Outstanding
Mahindra Steel Service Centre           LT–Unallocated        ICRA AA-     -       Assigned /
Ltd                                                                                Outstanding
Mann Mediciti Wellness Centre           CC                    ICRA B       58      -
Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Mann Mediciti Wellness Centre           Unallocated           ICRA B       15      -
Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Marikar (Motors) Ltd                    LT -Fund Based/ CC    ICRA BB+     140     Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Marikar (Motors) Ltd                    LT -Fund Based TL     ICRA BB+     35      Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Marikar (Motors) Ltd                    LT / ST –Unallocated  ICRA BB+/A4+ 24      Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Muthoot Capital Services Ltd -          PTC Series A2         ICRA AA-     -       Withdrawn
Quetzal Cv Ifmr Capital 2017
Pricol Ltd (Erstwhile Pricol            LT –TL                ICRA BBB+    316.6   Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol            LT – Fund based       ICRA BBB+    1450    Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol            LT – unallocated      ICRA BBB+    773.4   Outstanding
Pune Ltd)
Pyrotech Workspace Solutions            Fund based –Overdraft ICRA BB-     120     Revised from
Pvt Ltd                                                                            ICRA BB
Pyrotech Workspace Solutions            Non-fund based–BG     ICRA BB-     195     Revised from
Pvt Ltd                                                                            ICRA BB
Pyrotech Workspace Solutions            Unallocated           ICRA BB-     35      Revised from
Pvt Ltd                                                                            ICRA BB
Regen Infrastructure And                Fund Based Bk Limits  ICRA D       200     Revised from
Services Pvt Ltd                        (LT)                                       ICRA C
Regen Infrastructure And                Non-Fund Based Bk     ICRA D/D     200     Revised from
Services Pvt Ltd                        Limits (LT / ST)                           ICRA C/A4
Sharp Travels (India) Ltd               Fund Based-CC         ICRA BB-     97.5    -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Shl Agro Foods Inc                      CC                    ICRA BB-     65      -
(Rating continues to remain in the‘Issuer Not Cooperating’ category)
Shl Agro Foods Inc                      TL                    ICRA BB-     71.9    -
(Rating continues to remain in the‘Issuer Not Cooperating’ category)
Shree Sangameswara Electricals          FBL                   ICRA D       30      -
(Downgraded to ICRA D from ICRA B+ (Stable) and reassigned to ICRA C+)
Shree Sangameswara Electricals          Non FB limits         ICRA D       70      -
(Downgraded to ICRA D from ICRA A4 and reassigned to ICRA A4)
Standard Consultants Ltd                LT-Fund based-CC      ICRA B+      70      -
(Rating continues to remain under ‘IssuerNot Cooperating’ category)
Sunstar Overseas Ltd                    FBL                   ICRA D       5684.5  -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sunstar Overseas Ltd                    TL                    ICRA D       2114.4  -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sunstar Overseas Ltd                    Unallocated Limits    ICRA D       451.1   -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Swarnodhayam Credits Pvt Ltd            LT Bk Fac             ICRA BB-     200     Assigned
Tara Exports                            LT/ST –Unallocated    ICRA B+/A4   20      Reaffirmed
Tara Foods                              LT/ST –Unallocated    ICRA B+/A4   120     Reaffirmed
Veto Switchgears And Cables Ltd         FBL                   ICRA BBB+    431     Assigned

--------------------------------------------------------------------------------------------
$: 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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