November 16, 2017 / 10:48 AM / 7 months ago

RPT-ICRA ratings for Indian debt instruments-Nov 16 Part I

 (Repeating to add more ratings)
    Nov 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 15, 2017 (Part I)


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aarti Drugs Ltd                         ST fund based         ICRA A2+     3650
Issuer not cooperating
Aarneel Technocrafts Pvt Ltd            Working Capital LimitsICRA BB      60      Assigned
Aarti Drugs Ltd                         ST non-fund based     ICRA A2+     2710
Issuer not cooperating
Blde University                         Non FB Fac            ICRA A4      20
Issuer delayed in giving information
Captain Tractors Pvt Ltd                Non-FBL               ICRA A4      5       Withdrawn
Concept Clothing                        ST – Non-FB Fac       ICRA A4+     236     Withdrawn
Concept Clothing                        ST – Non-FB Fac       ICRA A4+     236     Withdrawn
G3 Motors Ltd                           Non fund basedLOC     ICRA A4+     200     -
Issuer not cooperating
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     150000  Withdrawn
                                        financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     4500    Outstanding
I-Tech Plast India Pvt Ltd              Non-fund basedBG      ICRA A4+     10      -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Non-fund basedBG      ICRA A4+     10      -
Issuer not cooperating
Ramakrishna Teletronics Pvt             Non-FBL               ICRA D*      60      Downgraded
Ltd                                                                                from ICRA A4
* Issuer not cooperating
Kanani Industries Ltd.                  FBL                   ICRA A4      250     Assigned
Kotak Mahindra Investments Ltd          CP Programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Kotak Mahindra Investments Ltd          CP Programme          ICRA A1+     55000   Outstanding
Kotak Mahindra Prime Ltd                CP Programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Kotak Mahindra Prime Ltd                CP Programme          ICRA A1+     90000   Outstanding
Lahmeyer International (India)          Non-fund based- LOC/BGICRA A1      -       Withdrawn
Pvt Ltd
Lovato Ceramic Pvt Ltd                  Non-fund based-BG     ICRA A4      -       Reaffirmed
Mittal International                    NFBL                  ICRA A3      3       Assigned
Muthoot Homefin (India) Ltd             CP Programme          ICRA A1+     1000    Reaffirmed
Raj Engineering Co.                     BG                    ICRA A4      130     -
Issuer not cooperating
Raj Engineering Co.                     LOC                   ICRA A4      50      -
Issuer not cooperating
Shree Raghuvanshi Fibers Pvt            DAUE*                 ICRA D       3.5     Revised from
Ltd                                                                                ICRA A4
*Drawing against Un-cleared Effects (un-cleared cheques)
Safar Polyfibre Pvt Ltd                 Non-fund Based – BG   ICRA A4      47      Reaffirmed
Safar Polyfibre Pvt Ltd                 Non-fund Based – CEL  ICRA A4      0.9     Reaffirmed
                                        for Forward Contract
Vicky Fashion Ltd                       FB Packing Credit     ICRA A4      20      Issuer Not
                                                                                   Cooperating
Vibhor Steel Tubes Pvt Ltd              Non-fund based – LOC  ICRA A3      110^    Upgraded
                                                                                   from ICRA A4+
^^sublimit of cash credit facility
Vibhor Steel Tubes Pvt Ltd              Non-fund based – BG   ICRA A3      110^    Upgraded
                                                                                   from ICRA A4+
^^sublimit of cash credit facility
Winsome Textile Industries Ltd          ST FBL                ICRA A4+     1275
Review process is underway
Winsome Textile Industries Ltd          ST NFBL               ICRA A4+     1318.9
Review process is underway


LONG TERM RATINGS:
-------------------
Aarti Drugs Ltd                         Long-TL               ICRA A-      2302.2
Issuer not cooperating
Aarti Drugs Ltd                         LT fund based         ICRA A-      300
Issuer not cooperating
Aarti Drugs Ltd                         LT / ST Unallocated   ICRA A-      107.8
                                                              /ICRA A2+
Issuer not cooperating
Bajrang Bronze Llp                      Fund based-TL         ICRA B-      22.9    -
Issuer not cooperating
Bajrang Bronze Llp                      Fund based-CC         ICRA B-      30      -
Issuer not cooperating
Bitcon India Infrastructure             Fund based- Working   ICRA BBB-    75      Upgraded
Developers Pvt. Ltd                     Capital Fac                                from ICRA BB+
Bitcon India Infrastructure             Non-fund              ICRA BBB-    425     Upgraded
Developers Pvt. Ltd                     based-Working Capital                      from ICRA BB+
                                        Fac
Blde University                         TL                    ICRA BB      40
Issuer delayed in giving information
Blde University                         FB Fac                ICRA BB      40
Issuer delayed in giving information
Boltmaster (India) Pvt Ltd              Fund based-TL         ICRA D       228     -
Issuer not cooperating
Boltmaster (India) Pvt Ltd              Fund based-TL         ICRA D       228     -
Issuer not cooperating
Captain Tractors Pvt Ltd                FB Limits             ICRA B+      184.6   Withdrawn
City Corporation                        Bk Loan Rating        ICRA BBB
Issuer delayed in giving information
Concept Clothing                        LT – FB Fac           ICRA BB+     14      Withdrawn
Concept Clothing                        LT – FB Fac           ICRA BB+     14      Withdrawn
G3 Motors Ltd                           Fund based-CC         ICRA BB      120     -
Issuer not cooperating
G3 Motors Ltd                           Fund based-TL         ICRA BB      27.2    -
Issuer not cooperating
G3 Motors Ltd                           Fund based / non fund ICRA BB      152.8   -
                                        based - Unallocated
Issuer not cooperating
Gramaudyogik Shilshan Mandal            Issuer Rating         ICRA BBB+    -       Assigned
Gramaudyogik Shilshan Mandal            Issuer Rating         ICRA BBB+    -       Assigned
Indian Furniture Products Ltd           BLR                   ICRA         849.6
                                                              BBB(SO)/
                                                              ICRA A2(SO)
Review underway
I-Tech Plast India Pvt Ltd              Fund basedEPC/FBD     ICRA BB      30      -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Fund based-TL         ICRA BB      16.5    -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Unallocated Limits    ICRA BB      4.5     -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Fund basedEPC/FBD     ICRA BB      30      -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Fund based-TL         ICRA BB      16.5    -
Issuer not cooperating
I-Tech Plast India Pvt Ltd              Unallocated Limits    ICRA BB      4.5     -
Issuer not cooperating
Jr Recreation Clubs And                 TL                    ICRA AA-(SO) 716.1   Withdrawn
Resorts Ltd
Kanani Polyfab Pvt Ltd                  FBL                   ICRA BB-     60      Assigned
Kanani Polyfab Pvt Ltd                  FB Limits             ICRA BB-     60      Assigned
Kanani Polyfab Pvt Ltd                  Unallocated Limits    ICRA BB-     70      Assigned
                                                              /ICRA A4
Kanani Polyfab Pvt Ltd                  Unallocated Limits    ICRA BB-     70      Assigned
                                                              /ICRA A4
Kotak Mahindra Investments Ltd          Subordinated Debt     ICRA AAA     2000    Outstanding
                                        Programme
Kotak Mahindra Prime Ltd                NCDs                  ICRA AAA     2517    Outstanding
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA AAA     6541    Outstanding
                                        Programme
Kotak Mahindra Prime Ltd                CC and TL             ICRA AAA     63910   Outstanding
Kotak Mahindra Prime Ltd                Nifty Linked          PP-MLDICRA   412.5   Outstanding
                                        Debentures            AAA
Lahmeyer International (India)          Fund based- Working   ICRA A       -       Withdrawn
Pvt Ltd                                 Capital Fac
Lovato Ceramic Pvt Ltd                  Fund based-TL         ICRA B+      -       Reaffirmed
Lovato Ceramic Pvt Ltd                  Fund based- Working   ICRA B+      -       Reaffirmed
                                        Capital Fac
M. B. Garments (India) Pvt Ltd          FB – CC               ICRA B       50      Withdrawn
M. B. Garments (India) Pvt Ltd          FB – TL               ICRA B       12      Withdrawn
M. B. Garments (India) Pvt Ltd          FB – SME Gold Card^   ICRA B       5       Withdrawn
M/S. Shiv Dal Mill                      FB TL                 ICRA B+      50      Assigned
M/S. Shiv Dal Mill                      FB CC                 ICRA B+      50      Assigned
Mall Of Joy Pvt Ltd                     LT Fund Based         ICRA BBB-    300
Review process is underway
Mittal International                    FB Limits             ICRA BBB-    243.4   Assigned
Muthoot Homefin (India) Ltd             LT Fund Based Bk LinesICRA AA-     6000    Reaffirmed
Nlc India Ltd                           LT; Borrowing         ICRA AAA     20000   Assigned
                                        Programme
Nlc India Ltd                           LT; TL                ICRA AAA     14000   Outstanding
Nlc India Ltd                           LT, NCD               ICRA AAA     6000    Outstanding
Raj Engineering Co.                     CC                    ICRA BB      70      -
Issuer not cooperating
Ramakrishna Teletronics Pvt             Unallocated Limits    ICRA D*      540     Downgraded
Ltd                                                                                from ICRA
                                                                                   B/A4
* Issuer not cooperating
Safar Polyfibre Pvt Ltd                 FB – CC               ICRA B       100     Reaffirmed
Safar Polyfibre Pvt Ltd                 FB – TL               ICRA B       252.5   Reaffirmed
Sai Point Bikes And Cars                Dropline facility     ICRA B       120     -
Issuer not cooperating
Sesha Sai Cotton Company                LT – CC               ICRA B       60      -
Issuer not cooperating
Sesha Sai Cotton Company                Unallocated           ICRA B       60      -
Issuer not cooperating
Shree Raghuvanshi Fibers Pvt            CC                    ICRA D       250     Revised from
Ltd                                                                                ICRA B+
Shree Raghuvanshi Fibers Pvt            TL                    ICRA D       150     Revised from
Ltd                                                                                ICRA B+
Sowparnika Projects &                   LT- Fund Based- TL    ICRA BB+     413     Assigned
Infrastructure Pvt Ltd
Sowparnika Projects &                   LT- Unallocated       ICRA BB+     887     Assigned
Infrastructure Pvt Ltd
Sowparnika Projects &                   LT- Fund Based-       ICRA BB+     800     Assigned
Infrastructure Pvt Ltd                  NonConvertible
                                        Debenture Programme
Srs Agri Foods                          TL                    ICRA C       140     Withdrawn
Vaidehi Enterprise                      Fund based-CC         ICRA B       50      -
Issuer not cooperating
Vedamatha Enterprises Pvt. Ltd.         LT– Fundbased CC      ICRA D       125     Downgraded
                                                                                   from ICRA B
Vibhor Steel Tubes Pvt Ltd              FB – CC               ICRA BBB-    280     Upgraded
                                                                                   from ICRA BB+
Vibhor Steel Tubes Pvt Ltd              FB – TL               ICRA BBB-    69.6    Upgraded
                                                                                   from ICRA BB+
Vibhor Steel Tubes Pvt Ltd              FB – Forward Contract ICRA BBB-            Upgraded
                                        Limit                                      from ICRA
                                                                                   BB+ /ICRA A4+
Vibhor Steel Tubes Pvt Ltd              FB –                  ICRA BBB-            Upgraded
                                        EPC/PCFC//EBC/FBD/BC                       from ICRA
                                                                                   BB+ /ICRA A4+
Vibhor Steel Tubes Pvt Ltd              FB – Derivative / CEL ICRA BBB-    1       Upgraded
                                                                                   from ICRA
                                                                                   BB+ /ICRA A4+
Vibhor Steel Tubes Pvt Ltd              Unallocated           ICRA BBB-    79.4    Upgraded
                                                                                   from ICRA
                                                                                   BB+ /ICRA A4+
Winsome Textile Industries Ltd          LT FBL                ICRA BB+     2536.1
                                                              / ICRA A4+
Review process is underway
--------------------------------------------------------------------------------------------
$: 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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