November 18, 2019 / 12:20 PM / 19 days ago

RPT-ICRA ratings for Indian debt instruments-Nov 18

 (Repeating to add more ratings.)
   Nov 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 15, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bajaj Electricals Ltd                   ST – FB Limits        ICRA A2+     3150    Revised from
                                                                                   ICRA A1
Bajaj Electricals Ltd                   ST – CP               ICRA A2+     5000    Revised from
                                                                                   ICRA A1
Crystal Sea Foods Pvt Ltd               Fund based- Export    ICRA A4      250     -
                                        Packaging Credit
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gtn Industries Ltd                      FB limits             ICRA A4      873.6   Reaffirmed
Gtn Industries Ltd                      Non-FBL               ICRA A4      262     Reaffirmed
Kalthia Infra Pvt Ltd                   Non-FBL – BG          ICRA A2+(CE) 20      Reaffirmed
Kosol Energie Pvt Ltd                   Non-FBL – LC, BG      ICRA         60      Reaffirmed
                                                              A2+(CE),
Mungi Engineers Pvt Ltd                 ST FB                 ICRA A2+     750     Reaffirmed
Oxyzo Financial Services Pvt            CP                    ICRA A2      250     Outstanding
Ltd
Ranga Overseas Pvt Ltd                  ST - Fund Based Trust ICRA A4      100     -
rating continues to remain under ‘Issuer Not Cooperating’ category
Sawlani Synthetics Pvt. Ltd.            ST non-FBL            ICRA A4      25      Withdrawn
(ISSUER NOT COOPERATING)
Sm Lpg Cylinders Pvt Ltd                Non-FBL               ICRA A4+     50      Reaffirmed
T S Alloys Ltd                          Non-fund Based –      ICRA A1+ &   20      Reaffirmed
                                        Working Capital Fac
placed on Rating watch with developing implications
Tata Advanced Materials Ltd             ST - Non-fund Based   ICRA A1&     -       Withdrawn
Utility Forms Pvt Ltd                   Non-FBL               ICRA A3      20      Reaffirmed
Buildmet Pvt Ltd                        ST - Unallocated      ICRA D       87.8    Revised from
                                                                                   ICRA A4+;
                                                                                   Removed 
                                                                                   from
                                                                                   Issuer not
                                                                                   Cooperating
                                                                                   category
Buildmet Pvt Ltd                        ST - Non-fund based   ICRA D       245     Revised from
                                                                                   ICRA A4+;
                                                                                   Removed 
                                                                                   from
                                                                                   Issuer not
                                                                                   Cooperating
                                                                                   category

LONG TERM RATINGS:
-------------------
Bajaj Electricals Ltd                   LT-NCD programme      ICRA A       2000    Revised from
                                                                                   ICRA A+
                                                                                   (Negative)
Bajaj Electricals Ltd                   LT - TL               ICRA A-      200     Revised from
                                                              (Negative)           ICRA A
                                                                                   (Negative)
Bajaj Electricals Ltd                   LT – FB Limits        ICRA A-      3797    Revised from
                                                              (Negative)           ICRA A
                                                                                   (Negative)
Bajaj Electricals Ltd                   LT/ST - Non-FBL       ICRA A-      27000   Revised from
                                                              (Negative)/          ICRA A
                                                              ICRA A2+             (Negative)/ 
                                                                                   ICRA A1
Bajaj Electricals Ltd                   LT/ST – FB/Non-FBL    ICRA A-      13275   Revised from
                                                              (Negative)/          ICRA A
                                                              ICRA A2+             (Negative)/ 
                                                                                   ICRA A1
Bajaj Electricals Ltd                   LT-NCD programme      Provisional  1500    Revised from
                                                              ICRA A-              Provisional
                                                                                   ICRA A 
                                                                                   (Negative)
Buildmet Pvt Ltd                        TL                    ICRA D       47.2    Revised from
                                                                                   ICRA
                                                                                   BB(Stable);
                                                                                   Removed 
                                                                                   from
                                                                                   Issuer not
                                                                                   Cooperating
                                                                                   category
Buildmet Pvt Ltd                        FBL                   ICRA D       120     Revised from
                                                                                   ICRA
                                                                                   BB(Stable);
                                                                                   Removed 
                                                                                   from
                                                                                   Issuer not
                                                                                   Cooperating
                                                                                   category
Crystal Sea Foods Pvt Ltd               Fund based- TL        ICRA C       126.5   -
Rating downgraded from ICRA B+ (Stable) and continues to remain under ‘Issuer Not Cooperating’
category
Europa Biocare Pvt Ltd                  Issuer rating         ICRA B-      -       Assigned
Gtn Industries Ltd                      TL                    ICRA B       507     Long-term
                                                                                   rating
                                                                                   upgraded 
                                                                                   from ICRA C
GTN Industries Ltd                      Unallocated Limits    ICRA B /A4   185     Long-term
                                                                                   rating is
                                                                                   upgraded
                                                                                   from ICRA C
                                                                                   and short-
                                                                                   term rating
                                                                                  is reaffirmed
Indian School Finance Company           PTC Series A1         ICRA A(SO)   -       Reaffirmed
Pvt Ltd - Northern Arc 2018
Sbl Kaundinya
Indian School Finance Company           PTC Series A2         ICRA BBB(SO) -       Reaffirmed
Pvt Ltd - Northern Arc 2018
Sbl Kaundinya
Indian School Finance Company           PTC Series A3         ICRA A+(SO)  -       Rating
Pvt Ltd -Inguz Sbl Ifmr                                                            upgraded
Capital 2016                                                                       from 
                                                                                   ICRA BBB+(SO)
Indian School Finance Company           PTC Series A1         ICRA A(SO)   -       Reaffirmed
Pvt Ltd -Northern Arc 2018 Sbl
Agastya
Indian School Finance Company           PTC Series A2         ICRA BBB(SO) -       Reaffirmed
Pvt Ltd -Northern Arc 2018 Sbl
Agastya
Indian School Finance Company           PTC Series A2         ICRA A(SO)   -       Reaffirmed
Pvt Ltd -Nymeria Sbl Northern
Arc 2018
Indian School Finance Company           PTC Series A1         ICRA A+(SO)  -       Reaffirmed
Pvt Ltd -Nymeria Sbl Northern
Arc 2018
Indian School Finance Company           PTC Series A3         ICRA BBB(SO) -       Reaffirmed
Pvt Ltd -Nymeria Sbl Northern
Arc 2018
Indian School Finance Company           PTC Series A1         ICRA A-(SO)  -       Reaffirmed
Pvt Ltd -Vivriti Jinn 011 2017
Indian School Finance Company           PTC Series A2         ICRA         -       Reaffirmed
Pvt Ltd -Vivriti Jinn 011 2017                                BBB-(SO)
Indian School Finance Company           PTC Series A1 - (a)   ICRA A(SO)   -       Reaffirmed
Pvt Ltd -Vivriti Muneka 07 2018
Indian School Finance Company           PTC Series A1 - (b)   ICRA A(SO)   -       Reaffirmed
Pvt Ltd -Vivriti Muneka 07 2018
Indian School Finance Company           PTC Series A2         ICRA         -       Reaffirmed
Pvt Ltd -Vivriti Muneka 07 2018                               BBB+(SO)
Kalthia Infra Projects Pvt Ltd          Fund Based – TL       ICRA BBB+    1478.6  Reaffirmed
Kalthia Infra Pvt Ltd                   Fund Based – TL       ICRA A-(CE)  89.7    Reaffirmed
Kalthia Infra-Con Pvt Ltd               Fund Based – TL       ICRA A-(CE)  509.2   Reaffirmed
Kosol Energie Pvt Ltd                   Fund Based – CC       ICRA A-(CE)  60      Reaffirmed
                                                              ,
L&T Sambalpur-Rourkela Tollway          Fund based - TL       ICRA BBB+    9909.8  Reaffirmed
Ltd
Mungi Engineers Pvt Ltd                 LT Fund Based/CC      ICRA A-      650     Reaffirmed
Mungi Engineers Pvt Ltd                 FB TL                 ICRA A-      1974.1  Reaffirmed
Mungi Engineers Pvt Ltd                 Non-fund based        ICRA A- /    365     Reaffirmed
                                        Working Capital Fac   A2+
Oxyzo Financial Services Pvt            LT Bk lines           ICRA BBB     2000    Outstanding
Ltd
Oxyzo Financial Services Pvt            Non- Convertible      ICRA BBB     600     Outstanding
Ltd                                     Debenture
Oxyzo Financial Services Pvt            Issuer rating         ICRA BBB     -       -
Ltd
Oxyzo Financial Services Pvt            LT-Market Linked      PP-MLDICRA   170     Outstanding
Ltd                                     Debenture             BBB
Oxyzo Financial Services Pvt            LT Loan               Provisional  80      Assigned
Ltd                                                           ICRA A-(CE)
Ranga Overseas Pvt Ltd                  LT - Based/ CC        ICRA B+      20      revised from
                                                                                   ICRA
                                                                                   BB(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Satya Microcapital Ltd                  PTC Series A2         ICRA         -       Rating
-Northern Arc 2018 Mfi Atticus                                BBB+(SO)             upgraded
                                                                                   from 
                                                                                   ICRA BBB+(SO)
Satya Microcapital Ltd                  PTC Series A1         ICRA A+(SO)  -       Rating
-Northern Arc 2019 Mfi Finnegan                                                    upgraded
                                                                                   from 
                                                                                   ICRA A(SO)
Satya Microcapital Ltd                  PTC Series A2         ICRA         -       Rating
-Northern Arc 2019 Mfi Finnegan                               BBB+(SO)             upgraded
                                                                                   From
                                                                                   ICRA BBB(SO)
Satya Microcapital Ltd                  PTC Series A2         ICRA A(SO)   -       Rating
-Northern Arc 2019 Mfi Hala                                                        upgraded
                                                                                   from 
                                                                                   ICRA BBB+(SO)
Satya Microcapital Ltd                  PTC Series A1         ICRA A+(SO)  -       Rating
-Northern Arc 2019 Mfi Hala                                                        upgraded
                                                                                   from 
                                                                                   ICRA A-(SO)
Satya Microcapital Ltd                  PTC Series A          ICRA A+(SO)  -       Rating
-Triumph Series 1 – 2019                                                           upgraded
                                                                                   From
                                                                                   ICRA A(SO)
Satya Microcapital Ltd                  PTC Series A          ICRA A+(SO)  -       Rating
-Triumph Series Ii – 2019                                                          upgraded
                                                                                   from 
                                                                                   ICRA A(SO)
Sawlani Synthetics Pvt. Ltd.            LT FBL                ICRA C+      120     Withdrawn
(ISSUER NOT COOPERATING)
Sm Lpg Cylinders Pvt Ltd                FBL                   ICRA BB+     300     Reaffirmed
Sundaram Finance Ltd -Shri              PTC Series A          ICRA         -       Withdrawn
Trust N 2017                                                  AAA(SO)
Sundaram Finance Ltd -Shri              PTC Series A          ICRA         -       Withdrawn
Trust O 2017                                                  AAA(SO)
T S Alloys Ltd                          Fund Based – Working  ICRA A+ &    180     Reaffirmed
                                        Capital Fac
placed on Rating watch with developing implications
Tata Advanced Materials Ltd             LT - CC               ICRA A+&     -       Withdrawn
Tata Advanced Materials Ltd             LT/ST - Fund Based/   ICRA A+& /   -       Withdrawn
                                        Non-fund Based        ICRA A1&
The Peria Karamalai Tea And             LT-FB- CC             ICRA BB+     100     Withdrawn
Produce Co. Ltd
The Peria Karamalai Tea And             LT- FB- TL            ICRA BB+     144.5   Withdrawn
Produce Co. Ltd
The Peria Karamalai Tea And             LT- Unallocated       ICRA BB+     105.5   Withdrawn
Produce Co. Ltd
Utility Forms Pvt Ltd                   CC Limits             ICRA BBB-    110     Reaffirmed
Utility Forms Pvt Ltd                   TL                    ICRA BBB-    67.5    Reaffirmed
Utility Forms Pvt Ltd                   Unallocated Trust NameICRA BBB-/A3 12.4    Reaffirmed
Shivam Pipe Industries                  Bk Fac                ICRA D       110     -
Issuer Not Cooperating
Rawmate Solutions                       Issuer Rating         ICRA B       -       -
Issuer Not Cooperating
Shankara Vehicles Pvt. Ltd.             Bk Fac                ICRA B+      100     -
Issuer Not Cooperating   
--------------------------------------------------------------------------------------------
$: 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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