November 14, 2018 / 11:52 AM / 6 months ago

RPT-ICRA ratings for Indian debt instruments-Nov 14

 (Repeating to add more ratings.)
   Nov 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 13, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------

SHORT TERM RATINGS:
-------------------
Apollo Tricoat Tubes                    Non-fund              ICRA A1 (SO) -       -
                                        based-Working Capital
                                        Fac
Export-Import Bank Of India             ST Debt Programme     ICRA A1+     98209.9#Outstanding
# Total limit rated for long-term/short-term certificates of deposit and 
short-term debt is Rs. 9820.99 crore; the amount outstanding would not exceed the said limit
Icici Securities Ltd                    CP                    ICRA A1+     15000   Reaffirmed
India Tin Industries Pvt Ltd            ST – LOC              ICRA A3      95      Withdrawn
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     7500    Outstanding
Kotak Mahindra Investments Ltd          CP Programme (IPO     ICRA A1+     -       Withdrawn
                                        Financing)
Kotak Mahindra Investments Ltd          CP Programme          ICRA A1+     55000   Outstanding
Mahindra Asset Management               Mahindra Low Duration ICRA A1+mfs  -       Withdrawn
Company Pvt Ltd                         Bachat Yojana
Mahindra Asset Management               Mahindra Liquid Fund  ICRA A1+mfs  -       Outstanding
Company Pvt Ltd
Mindspace Business Parks Pvt            FBL (optionally       ICRA A1      1410    Reaffirmed
Ltd                                     convertible debenture
                                        Facility)
Mindspace Business Parks Pvt            NFBL                  ICRA A1      300     Reaffirmed
Ltd
Naari Pharma Pvt. Ltd.                  ST – NFBL             ICRA A2 (SO) 100     reassigned
                                                                                   from ICRA
                                                                                   A2+ (SO)
Naari Pharma Pvt. Ltd.                  ST – FBL              ICRA A2 (SO) 50      reassigned
                                                                                   from ICRA
                                                                                   A2+ (SO)
Rehber Food Industries Pvt Ltd          Non-fund Based        ICRA A3+     9       Reaffirmed
Silica Ceramica Pvt Ltd                 Non-FBL               ICRA A1(SO)  432.5   Reaffirmed
Stovekraft Pvt Ltd                      Non-Fund Based – ST   ICRA A4      250     Withdrawn
1Liya Infratech Pvt Ltd                 NFB                   ICRA A4      50      Reaffirmed
Bajaj Finance Ltd                       CP Programme          ICRA A1+     200000  Outstanding
Kirloskar Ferrous Industries            CP                    ICRA A1+     1000    Reaffirmed
Ltd
Prism Johnson Ltd                       FB – Working Capital  ICRA A1      800     Reaffirmed
                                        Fac
Prism Johnson Ltd                       Non-fund based –      ICRA A1      1920    Reaffirmed
                                        Working Capital Fac

MEDIUM TERM RATINGS:
-------------------
Export-Import Bank Of India             Fixed Deposits        MAAA         -       Outstanding
                                        Programme
Bajaj Finance Ltd                       FD Programme          MAAA         -       Outstanding

LONG TERM RATINGS:
-------------------
Aerospace Processing India Pvt          TL                    ICRA BBB-    45      Downgraded
Ltd                                                                                from ICRA BBB
Aerospace Processing India Pvt          LT / ST fund based /  ICRA BBB-    45      Downgraded
Ltd                                     non-fund based        / A3                 from ICRA
                                        interchangeable limits                     BBB / A3+
Apollo Tricoat Tubes                    Fund based-TL         ICRA A (SO)  600     Reaffirmed
Apollo Tricoat Tubes                    Fund based/Non fund   ICRA A (SO)  600     Reaffirmed
                                        based - Working
                                        Capital Fac
Asa International India                 PTC Series A1         Provisional  117.8   Confirmed as
Microfinance Ltd-Vivriti                                      ICRA A-(SO)          final
Moreno 07 2018
Asa International India                 PTC Series A2         Provisional  5.4     Confirmed as
Microfinance Ltd-Vivriti                                      ICRA BBB(SO)         final
Moreno 07 2018
Esr Pune Industrial Park Pvt            LT: Unallocated       Provisional  2000    Assigned
Ltd                                                           ICRA BBB
Esr Warehousing Pvt Ltd                 LT: Unallocated       Provisional  1500    Assigned
                                                              ICRA BBB
Export-Import Bank Of India             Basel III Compliant   ICRA         11000   Outstanding
                                        Additional
Tier-I     AA+(hyb)
                                        Bonds
Export-Import Bank Of India             LT Bonds Programme    ICRA AAA     341449  Outstanding
Export-Import Bank Of India             Bk Lines              ICRA AAA     30000   Outstanding
Export-Import Bank Of India             Certificates of       ICRA AAA /   98209.9#Outstanding
                                        Deposit Programme     ICRA A1+
# Total limit rated for long-term/short-term certificates of deposit and short-term 
debt is Rs. 9820.99 crore; the amount outstanding would not exceed the said limit
Icici Securities Ltd                    NCDs                  ICRA AAA     500     Reaffirmed
India Tin Industries Pvt Ltd            LT – CC               ICRA BBB-    100     Withdrawn
Indian School Finance Company           PTC Series A1         Provisional  467.3   Confirmed as
Pvt Ltd-Northern Arc 2018                                     ICRA A(SO)           final
Sbl Agastya
Indian School Finance Company           PTC Series A2         Provisional  27.5    Confirmed as
Pvt Ltd-Northern Arc 2018                                     ICRA BBB(SO)         final
Sbl Agastya
Kotak Mahindra Investments Ltd          Subordinated Debt     ICRA AAA     2000    Outstanding
                                        Programme
Mindspace Business Parks Pvt            TL                    ICRA A+      11490   Reaffirmed
Ltd
Mindspace Business Parks Pvt            Proposed Limits       ICRA A+      2773.2  Reaffirmed
Ltd
Mohan Energy Corporation Pvt            FB CC                 ICRA BB-     20      Revised from
Ltd                                                                                ICRA BB+
Mohan Energy Corporation Pvt            Non-fund Based BG     ICRA BB-     810     Revised from
Ltd                                                                                ICRA BB+
Naari Pharma Pvt. Ltd.                  TL                    ICRA BBB     712.5   reassigned
                                                              (SO)                 from ICRA
                                                                                   BBB+
Naari Pharma Pvt. Ltd.                  LT - FBL              ICRA BBB     200     reassigned
                                                              (SO)                 from ICRA
                                                                                   BBB+
Rehber Food Industries Pvt Ltd          Fund Based – Working  ICRA BBB     450     Reaffirmed
                                        Capital
Rehber Food Industries Pvt Ltd          Fund Based – TL       ICRA BBB     156.7   Reaffirmed
Rehber Food Industries Pvt Ltd          Unallocated           ICRA BBB     4.3     Reaffirmed
Samvardhana Motherson                   NCD Programme         ICRA AA-     4000    Reaffirmed
International Ltd
Satin Creditcare Network                PTC Series A2         ICRA A-(SO)  -       Withdrawn
Ltd.-Parkour Ifmr
Capital 2017
Satin Creditcare Network                PTC Series A1         ICRA A+(SO)  -       Withdrawn
Ltd.-Vivriti Aquila 002 2017
Silica Ceramica Pvt Ltd                 NCD Programme         ICRA A-(SO)  500     Reaffirmed
Silica Ceramica Pvt Ltd                 TL                    ICRA A-(SO)  750     Reaffirmed
Silica Ceramica Pvt Ltd                 FB limits             ICRA A-(SO)  400     Reaffirmed
Siti Networks Ltd                       Long-TL               ICRA A-      2000    Outstanding
Siti Networks Ltd                       LT, Non-FBL           ICRA A-      750     Outstanding
Siti Networks Ltd                       LT, FB Limits         ICRA A-      250     Outstanding
Siti Networks Ltd                       Long-TL               ICRA AA(SO)  500     Outstanding
SKN- Haryana City Gas                   FB                    ICRA BB+&    70.8    - 
Distribution Pvt Ltd
ratings put on watch with developing implications
SKN- Haryana City Gas                   Non-fund Based        ICRA BB+&    100     -
Distribution Pvt Ltd
ratings put on watch with developing implications
Spandana Sphoorty Financial             PTC Series A          ICRA A+(SO)  1405.2  Confirmed as
Ltd-Abhilasha 08 2018                                                              final
Stovekraft Pvt Ltd                      Fund Based – LT       ICRA BB-     845     Withdrawn
Stovekraft Pvt Ltd                      Unallocated – LT      ICRA BB-     145     Withdrawn
1Liya Infratech Pvt Ltd                 CC                    ICRA BB      200     Reaffirmed
1Liya Infratech Pvt Ltd                 TL                    ICRA BB      10      Reaffirmed
Bajaj Finance Ltd                       NCD Programme         ICRA AAA     -       Withdrawn
Bajaj Finance Ltd                       NCD Programme         ICRA AAA     13100   Outstanding
Bajaj Finance Ltd                       Subordinated Debt     ICRA AAA     12783   Outstanding
                                        Programme
Kirloskar Ferrous Industries            Unallocated           -            -       -
Ltd
Kirloskar Ferrous Industries            TL                    ICRA AA-     600     Reaffirmed
Ltd
Kirloskar Ferrous Industries            FBF                   ICRA AA- /   4550    Reaffirmed
Ltd                                                           ICRA A1+
Kirloskar Ferrous Industries            NFBF                  ICRA AA- /   6900    Reaffirmed
Ltd                                                           ICRA A1+
Prism Johnson Ltd                       NCD Programme         ICRA A-      2800    Reaffirmed
Prism Johnson Ltd                       NCD Programme         ICRA A-      -       Withdrawn
Prism Johnson Ltd                       FB-TL                 ICRA A-      10805   Reaffirmed
Prism Johnson Ltd                       FB – Working Capital  ICRA A-      2979    Reaffirmed
                                        Fac
Prism Johnson Ltd                       FB – Working Capital  ICRA A- /    400     Reaffirmed
                                        Fac                   ICRA A1
Prism Johnson Ltd                       Non-fund based –      ICRA A- /    1100    Reaffirmed
                                        Working Capital Fac   ICRA A1  
--------------------------------------------------------------------------------------------
$: 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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