November 17, 2017 / 10:34 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Nov 17

 (Repeating to add more ratings)
    Nov 17 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 16, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Alfanso Vitrified Pvt Ltd               BG                    ICRA A4      40      Assigned
Apex Constructions                      BG                    ICRA A4      70      Assigned
                                                                                   /Outstanding
Issuer not cooperating
Bharat Industrial Enterprises           Standby LOC           ICRA A4      80      Withdrawn
Ltd
Call Express Construction               LT/ ST – Unallocated  ICRA A4      100     -
India Pvt Ltd                           Limits
Review process underway
Carona Industries Pvt Ltd               FB Fac (ST)           ICRA D       15      -
Client Not co-operating
Carona Industries Pvt Ltd               Non FB Fac (ST)       ICRA D       46.3    -
Client Not co-operating
Chiripal Poly Filmsltd                  Non Fund Based - LOC  ICRA A2+     1550    Reaffirmed
                                        / BG
Dcb Bank Ltd                            ST Fixed Deposit      ICRA A1+     -       Outstanding
                                        Programme
Elite Engineering &                     NFBL                  ICRA A4+     151.8   -
Construction (Hyd) Pvt Ltd
* Issuer not cooperating
Gb Engineering Enterprises Pvt          ST FBL                ICRA D       50      -
Ltd
Client Not co-operating
India Infoline Finance Ltd              IPO financing         ICRA A1+     40000   Assigned
                                        programme
India Infoline Finance Ltd              IPO financing         ICRA A1+     90000   Outstanding
                                        programme
India Infoline Finance Ltd              ST debt programme     ICRA A1+     70000   Outstanding
Ksb Pumps Ltd                           ST – FB               ICRA A1+     566     Reaffirmed
Ksb Pumps Ltd                           ST – Non-fund Based   ICRA A1+     1510    Reaffirmed
Mbc Infraspace Pvt Ltd                  NFBL                  ICRA A4      41.9    Reaffirmed
Issuer not cooperating
Mbc Infraspace Pvt Ltd                  NFBLUnallocated       ICRA A4      28.1    Reaffirmed
Issuer not cooperating
Metexim (Sourcing) Pvt. Ltd.            ST, FB Fac            ICRA A4      47.5    Reaffirmed
Nandan Denim Ltd                        Fund based-Working    ICRA A1      152     Upgraded
                                        Capital Fac (ST)                           from ICRA A2+
Nandan Denim Ltd                        Non- FB Fac           ICRA A1      500     Upgraded
                                                                                   from ICRA A2+
Rockland Ceramic Llp                    NFBL                  ICRA A4      24      Assigned
Issuer not cooperating
Sln Technologies Pvt. Ltd.              ST Non-fund           ICRA A4      62.5    Reaffirmed
                                        based-Working Capital
                                        Fac
Outlook revised from ‘Stable’ to ‘Positive
Suryoday Small Finance Bank Ltd         Social Performance    SP2          -       Withdrawn
                                        Assessment
Tarini Motors Pvt Ltd                   BG                    ICRA A4      15      Reaffirmed
(reduced from 2.50 CR)
Toyota Financial Services               CP programme          ICRA A1+     15000   Assigned /
India Ltd                                                                          Outstanding
(enhanced from 500.00 cr)
Tractebel Engineering Pvt Ltd           Non-fund Based-BGs*   ICRA A1      516.2   Assigned
* Fund based and non-fund based limits upto Rs. 80.0 crore are fully interchangeable
Volkswagen Finance Pvt Ltd              CP Programme          ICRA A1+     30000   Assigned

LONG TERM RATINGS:
-------------------
Adarsha Automotives Pvt Ltd             FB Limits-CC          ICRA BB+     382.5   Upgraded
                                                                                   from ICRA BB
Adarsha Automotives Pvt Ltd             FB Limits-TL          ICRA BB+     83.5    Upgraded
                                                                                   from ICRA BB
Adarsha Automotives Pvt Ltd             Non-FBL               ICRA BB+ /   20      Upgraded
                                                              ICRA A4+             from ICRA BB
                                                                                   / CARE A4
Alfanso Vitrified Pvt Ltd               CC                    ICRA B       100     Assigned
Alfanso Vitrified Pvt Ltd               TL                    ICRA B       315     Assigned
Amrut Cotton Industries                 FBL                   ICRA B+      177     Reaffirmed
(enhanced from Rs. 15.00 crore )
Apex Constructions                      CC                    ICRA B+      60      Assigned
                                                                                   /Outstanding
Issuer not cooperating
Bazargaon Paper And Pulp Mills          FB – CC               ICRA B       72.3    Upgraded
Pvt Ltd                                                                            from ICRA B-
Bazargaon Paper And Pulp Mills          FB – TL               ICRA B       15      Upgraded
Pvt Ltd                                                                            from ICRA B-
Bazargaon Paper And Pulp Mills          Non-fund based – BG   ICRA B /     5       Reaffirmed
Pvt Ltd                                                       ICRA A4
Bazargaon Paper And Pulp Mills          Unallocated           ICRA B /     7.5     Upgraded
Pvt Ltd                                                       ICRA A4              from ICRA B-
                                                                                   / ICRA A4
Bharat Industrial Enterprises           Export Packing Credit ICRA BB      600     Withdrawn
Ltd
Bharat Industrial Enterprises           Corporate Loan        ICRA BB      40      Withdrawn
Ltd
Call Express Construction               LT –Fund -Based LimitsICRA BB-     500     -
India Pvt Ltd
Review process underway
Carona Industries Pvt Ltd               LT – TL               ICRA D       41      -
Client Not co-operating
Carona Industries Pvt Ltd               LT, Fundbased Fac     ICRA D       145     -
Client Not co-operating
Carona Industries Pvt Ltd               Proposed Fac (LT)     ICRA D       112.7   -
Client Not co-operating
Chiripal Poly Filmsltd                  Fund Based -          -            -       -
                                        Unallocated
Chiripal Poly Filmsltd                  Fund Based - TL       ICRA A-      2950    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Chiripal Poly Filmsltd                  Fund Based - CC Limit ICRA A-      1600    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Dcb Bank Ltd                            Basel III Complaint   ICRA A+(hyb) 1500    Assigned
                                        Tier II Bonds
                                        Programme
Dcb Bank Ltd                            Basel III Complaint   ICRA A+(hyb) 4000    Outstanding
                                        Tier II Bonds
                                        Programme
Dcs Techno Services Pvt Ltd             FBL                   ICRA BB      57.5    Reaffirmed
Dcs Techno Services Pvt Ltd             NFBL                  ICRA BB /    62.5    Reaffirmed
                                                              ICRA A4
Dlf Emporio Ltd                         NCD                   ICRA AA(SO)  5250    Reaffirmed
Elite Engineering &                     FBL                   ICRA BB+     48.2    -
Construction (Hyd) Pvt Ltd
* Issuer not cooperating
Gb Engineering Enterprises Pvt          LT, FB Fac            ICRA D       240     -
Ltd
Client Not co-operating
Gb Engineering Enterprises Pvt          NFBL                  ICRA D       192.8   -
Ltd
Client Not co-operating
Gb Engineering Enterprises Pvt          LT / ST - unallocated ICRA D       32.6    -
Ltd
Client Not co-operating
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      10000   Outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Jayaswal Neco Industries Ltd.           Fund based-TL         ICRA D       30867   Reaffirmed
Jayaswal Neco Industries Ltd.           Fund based- Working   ICRA D       6530.4  Reaffirmed
                                        Capital Fac
Jayaswal Neco Industries Ltd.           Non-fund              ICRA D       4352.6  Reaffirmed
                                        based-Working Capital
                                        Fac
Kohli Industries                        LT: FBL – CC          ICRA BB-     100     Reaffirmed
Ksb Pumps Ltd                           FB – CC               ICRA AA      91.5    Reaffirmed
Kunj Bihari Lal Radhey Shyam            LT-FB Limits          ICRA B+      75      -
Metals Pvt Ltd
Issuer not cooperating
Lakshmi Narasimha Warehousing           BLR                   ICRA B       60      -
Issuer not cooperating
M/S B.P. Construction                   Bk Fac                ICRA B+ /    140     -
                                                              ICRA A4
Issuer not cooperating
Malik Cars Pvt Ltd                      CCL                   ICRA BB+     210     Reaffirmed
(revised from 15.00 CR)
Malik Cars Pvt Ltd                      Unallocated Limits    ICRA BB+     110     Reaffirmed
(revised from 1.50 CR)
Mbc Infraspace Pvt Ltd                  FBL-CC                ICRA B+      30.5    Reaffirmed
Client Not co-operating
Mbc Infraspace Pvt Ltd                  FBLUnallocated        ICRA B+      9.5     Reaffirmed
Issuer not cooperating
Metexim (Sourcing) Pvt. Ltd.            LT: TL                -            0       -
(revised from 0.25)
Metexim (Sourcing) Pvt. Ltd.            LT: Unallocated       ICRA B+      2.5     Reaffirmed
(earlier nil)
Mnr Cottons Ltd                         Fund based-TL         ICRA BB-     120     Reaffirmed
Mnr Cottons Ltd                         Fund based- Working   ICRA BB-     80      Reaffirmed
                                        Capital Fac
Mnr Cottons Ltd                         Non-fund basedWorking ICRA BB-     58      Reaffirmed
                                        Capital Fac
Mnr Cottons Ltd                         Unallocated           ICRA BB-     -       Reaffirmed
Nallamilli Satyanarayana Reddy          FB Limits             ICRA BB-     120     Reaffirmed
And Others
(revised from 14.35 CR)
Nallamilli Satyanarayana Reddy          Non-FB Limits         ICRA BB-     20      Reaffirmed
And Others
Nallamilli Satyanarayana Reddy          Unallocated           ICRA BB- /   60      Reaffirmed
And Others                                                    ICRA A4
(revised from 3.65 CR)
Nandan Denim Ltd                        Fund based-TL         ICRA A       4245.6  Upgraded
                                                                                   from ICRA A-
Nandan Denim Ltd                        Fund based- Working   ICRA A       1698    Upgraded
                                        Capital Fac                                from ICRA A-
Phillips Carbon Black Ltd               TL                    ICRA A+      4000    Reaffirmed
Platinum Polymers Pvt Ltd               BLR                   ICRA B+ /    51.4    -
                                                              ICRA A4
Issuer not cooperating
Rlj Woven Sacks Pvt Ltd                 FB TL                 ICRA BB      45.4    Reaffirmed
Rlj Woven Sacks Pvt Ltd                 FB CC                 ICRA BB      110     Reaffirmed
Rlj Woven Sacks Pvt Ltd                 LT Limit – UnallocatedICRA BB      2.1     Reaffirmed
Rlj Woven Sacks Pvt Ltd                 Non FBL -BG           ICRA BB      12.5    Reaffirmed
Rockland Ceramic Llp                    FBL-CC                ICRA B       50      Assigned
Issuer not cooperating
Rockland Ceramic Llp                    FBL-TL                ICRA B       124.5   Assigned
Issuer not cooperating
Rockland Ceramic Llp                    Unallocated           ICRA B /     1.5     Outstanding
                                                              ICRA A4
Issuer not cooperating
Shapoorji Pallonji Pandoh               Proposed TL           ICRA A-      14500   Assigned
Takoli Highway Pvt Ltd
Sln Technologies Pvt. Ltd.              LT Fund based-TL      ICRA BB-     30      Reaffirmed
Outlook revised from ‘Stable’ to ‘Positive
Sln Technologies Pvt. Ltd.              LT Fund based-        ICRA BB-     45      Reaffirmed
                                        Working Capital Fac
Outlook revised from ‘Stable’ to ‘Positive
Sln Technologies Pvt. Ltd.              LT Unallocated        ICRA BB-     5       Reaffirmed
Outlook revised from ‘Stable’ to ‘Positive
Sort India Enviro Solutions Ltd         NCD                   ICRA B       80      -
Issuer not cooperating
Sri Lakshmi Egg Farming Pvt Ltd         Fund Based – TL       ICRA B+      66      Reaffirmed
Sri Lakshmi Egg Farming Pvt Ltd         Fund Based – CC       ICRA B+      130     Reaffirmed
Sri Lakshmi Egg Farming Pvt Ltd         Unallocated Limits    ICRA B+ /    4       Reaffirmed
                                                              ICRA A4
Sri Venkateswara Warehousing            BLR                   ICRA B       80      -
Issuer not cooperating
Sri Murari Oil Industries Pvt           Fund based-TL         ICRA B-     100     Reaffirmed
Ltd
Sri Murari Oil Industries Pvt           Fund based- Working   ICRA B-     60      Reaffirmed
Ltd                                     Capital Fac
Tarini Motors Pvt Ltd                   TL                    ICRA B+      8.6     Reaffirmed
(reduced from Rs. 1.74 crore)
Tarini Motors Pvt Ltd                   CC                    ICRA B+      32.5    Reaffirmed
Tarini Motors Pvt Ltd                   Unallocated           ICRA B+      18.8    Reaffirmed
Tractebel Engineering Pvt Ltd           Fund based- Working   ICRA A       510     Assigned
                                        Capital Fac*
* Fund based and non-fund based limits upto Rs. 80.0 crore are fully interchangeable
--------------------------------------------------------------------------------------------
$: 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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