November 20, 2019 / 11:19 AM / 15 days ago

RPT-ICRA ratings for Indian debt instruments-Nov 20

 (Repeating to add more ratings)
    Nov 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 19, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Altech Infrastructure Pvt. Ltd.         ST: NonFund Based     ICRA A4      34
Continues to remain under the ‘Issuer Not Cooperating’ category
Api Associates Pvt Ltd                  ST: Unallocated       ICRA D       30
Continues to remain under the ‘Issuer Not Cooperating’ category
Apl Apollo Tubes Ltd                    CP                    ICRA A1+     3000    Reaffirmed
Apl Apollo Tubes Ltd                    Non-fund              ICRA A1+     3500    Reaffirmed
                                        based-Working Capital
                                        Fac
Apollo Metalex Pvt Ltd                  Non-fund              ICRA A1+     200     Reaffirmed
                                        based-Working Capital
                                        Fac
Escorts Heart Institute And             Non-FBL               ICRA A2&     50
Research Centre Ltd
&on watch with developing implications
Fortis Healthcare Ltd                   Non-FBL               ICRA A2&     200
&on watch with developing implications
Fortis Hospitals Ltd                    Non-FBL               ICRA A2&     250
&on watch with developing implications
Gress Ceramica Pvt Ltd                  Non-fund Based BG     ICRA A4      10
Rating continues to remain under ‘Issuer Not Cooperating’ category
Jala Shakti Ltd                         ST: NonFund Based- BG ICRA D       16
Continues to remain under the ‘Issuer Not Cooperating’ category
Nikhil Udyog                            ST: Unallocated       ICRA D       100
Continues to remain under the ‘Issuer Not Cooperating’ category
Nikhil Udyog                            ST: NonFund Based     ICRA D       10
Continues to remain under the ‘Issuer Not Cooperating’ category
Rucha Engineers Pvt Ltd                 ST, Non-FB            ICRA A2+     50      Reaffirmed
Rucha Engineers Pvt Ltd                 ST, Unallocated limitsICRA A2+     6       Reaffirmed
Shri Lakshmi Metal Udyog Ltd            Non-fund              ICRA A1+     130     Reaffirmed
                                        based-Working Capital
                                        Fac
Vinayak International                   ST NonFund based/LOC  ICRA A4      100
Rating continues to remain under ‘Issuer Not Cooperating’ category
Virgo Laminates Ltd                     Non FBL               ICRA A1      115     outstanding
Roop Technology Pvt Ltd                 ST Interchangeable    ICRA A4     -       -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)


LONG TERM RATINGS:
-------------------
Altech Infrastructure Pvt. Ltd.         LT: Fund Based        ICRA B+      73.7
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Altech Infrastructure Pvt. Ltd.         LT: Unallocated       ICRA B+      2.3
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Amarnath Aggarwal Constructions         LT - Fund Based – CC  ICRA B+      20
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Amarnath Aggarwal Constructions         LT - Non-Fund Based   ICRA B+      80
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Api Associates Pvt Ltd                  LT: Fund Based        ICRA D       66.1
Continues to remain under the ‘Issuer Not Cooperating’ category
Api Associates Pvt Ltd                  LT: Unallocated       ICRA D       3.9
Continues to remain under the ‘Issuer Not Cooperating’ category
Apl Apollo Tubes Ltd                    NCD Programme         ICRA         1950    Reaffirmed
                                                              AA-(Stable)
Apl Apollo Tubes Ltd                    NCD Programme         ICRA         1250    Reaffirmed
                                                              AA-(Stable)
Apl Apollo Tubes Ltd                    Fund based-TL         ICRA         2880    Reaffirmed
                                                              AA-(Stable)
Apl Apollo Tubes Ltd                    Fund based - Working  ICRA         10500   Reaffirmed
                                        Capital Fac           AA-(Stable)
                                                              /ICRA A1+
Apollo Metalex Pvt Ltd                  Fund based-TL         ICRA         600     Reaffirmed
                                                              AA-(Stable)
Apollo Metalex Pvt Ltd                  Fund based - Working  ICRA         1150    Reaffirmed
                                        Capital Fac           AA-(Stable)
Ashritha Health Care Pvt Ltd            LT - Fund Based TL    ICRA D       96.5
Continues to remain under the ‘Issuer Not Cooperating’ category
Balaji Motors                           Fund based-TL         ICRA B       48
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Balaji Motors                           Fund based-CC         ICRA B       70
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Balaji Motors                           Unallocated Limit     ICRA B       2
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Cygnus Splendid Ltd                     LT FB Facility – CC   ICRA D       36.4
Continues to remain under the ‘Issuer Not Cooperating’ category
Cygnus Splendid Ltd                     LT FB Facility – TL   ICRA D       95
Continues to remain under the ‘Issuer Not Cooperating’ category
Dipanshu Promoter Amp; Builder          Fund based – CC       ICRA B+      45      Downgraded
Pvt. Ltd.                                                     (Stable)             from ICRA BB
                                                                                   (Stable)
Moved to ‘Issuer Not Cooperating’ category
Dipanshu Promoter Amp; Builder          FB- Overdraft         ICRA B+      5       Downgraded
Pvt. Ltd.                                                     (Stable)             from ICRA BB
                                                                                   (Stable)
Moved to ‘Issuer Not Cooperating’ category
Dipanshu Promoter Amp; Builder          Non Fund Based -BGs   ICRA         225     Downgraded
Pvt. Ltd.                                                     B+(Stable)           from ICRA
                                                              /ICRA A4             BB(Stable) /
                                                                                   ICRA A4+
Moved to ‘Issuer Not Cooperating’ category
Escorts Heart Institute And             FB limits             ICRA BBB+&   250
Research Centre Ltd
&on watch with developing implications
Escorts Heart Institute And             TL                    ICRA BBB+&   50
Research Centre Ltd
&on watch with developing implications
Fortis Healthcare Ltd                   FB limits             ICRA BBB+&   500
&on watch with developing implications
Fortis Healthcare Ltd                   TL                    ICRA BBB+&   6450
&on watch with developing implications
Fortis Hospitals Ltd                    FB limits             ICRA BBB+&   1948.2
&on watch with developing implications
Fortis Hospitals Ltd                    TL                    ICRA BBB+&   5301.8
&on watch with developing implications
Franco Leome Shoes (P) Ltd.             LT Fund based – CC    ICRA B+      400
                                                              (Stable)
Downgraded from ICRA BB+(Stable)
Gayatri Developwell Pvt. Ltd.           LT Fund bases- TL     ICRA D       135
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gress Ceramica Pvt Ltd                  Fund based-TL         ICRA B-      33.6
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gress Ceramica Pvt Ltd                  Fund based-CC         ICRA B-      30
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gress Ceramica Pvt Ltd                  Unallocated Limits    ICRA B-      18.9
                                                              (Stable)/
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Iconkrishi Institute Of                 FB TL                 ICRA A (CE)  140     Assigned
Medical Sciences Pvt Ltd                                      (Positive)
Iconkrishi Institute Of                 FB CC                 ICRA A (CE)  30      Assigned
Medical Sciences Pvt Ltd                                      (Positive)
J.I. Enterprises                        LT: Fund Based        ICRA         64.4
                                                              B(Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
J.I. Enterprises                        LT: Unallocated       ICRA         25.6
                                                              B(Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
Jala Shakti Ltd                         LT: Fund Based- TL    ICRA D       242.2
Continues to remain under the ‘Issuer Not Cooperating’ category
Jala Shakti Ltd                         LT: Unallocated       ICRA D       6.8
Continues to remain under the ‘Issuer Not Cooperating’ category
Jot Impex Pvt Ltd                       Fund based-CC         ICRA D       200
Rating continues to remain under ‘Issuer Not Cooperating’ category
Limtex India Ltd                        FB – TL               ICRA D       9.2
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Limtex India Ltd                        FB – CC               ICRA D       130
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Limtex India Ltd                        FB – Standby Line of  ICRA D       120
                                        Credit
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Limtex India Ltd                        FB limit              ICRA D       430
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Limtex India Ltd                        Non-FB limits         ICRA D       198.4
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Mateshwari Food Stuff Pvt Ltd           LT Fund Based-CC      ICRA B       175
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Mateshwari Food Stuff Pvt Ltd           LT Fund based-TL      ICRA B       65
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Nandan Saha Steel Pvt Ltd               FB Limits             ICRA B+      538
                                                              (Stable)
Downgraded from ICRA BB and Moved to ‘Issuer Not Cooperating’ category
Nandan Saha Steel Pvt Ltd               Unallocated Limits    ICRA B+      162
                                                              /ICRA A4
Downgraded from ICRA BB(Stable) /ICRA A4+ and moved to Issuer Not Cooperating category.
Nav Bharat Rice Amp; General            LT: Fund Based- CC    ICRA B       60
Mills
Continues to remain under the ‘Issuer Not Cooperating’ category
Nikhil Udyog                            LT: Fund Based        ICRA D       72.7
Continues to remain under the ‘Issuer Not Cooperating’ category
Nikhil Udyog                            LT: Unallocated       ICRA D       62.3
Continues to remain under the ‘Issuer Not Cooperating’ category
P&R Engineering Services Pvt            LT: Fund Based-TL     ICRA D       221.7
Ltd
Continues to remain under the ‘Issuer Not Cooperating’ category
P&R Gogaripur Hydro Power Pvt           LT: Fund Based-TL     ICRA D       94.8
Ltd
Continues to remain under the ‘Issuer Not Cooperating’ category
Pluto Plaza Pvt Ltd                     FBL – TL              ICRA         350
                                                              B+(Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Prahlad Flour Mills (P) Ltd.            LT Fund based – CC    ICRA         107.5
                                                              B+(Stable)
Downgraded from ICRA BB and continues to remain under ‘Issuer Not Cooperating’ category
Prahlad Flour Mills (P) Ltd.            LT Fund based – TL    ICRA         15
                                                              B+(Stable)
Downgraded from ICRA BB and continues to remain under ‘Issuer Not Cooperating’ category
Prashanth Educational Society           LT - Fund Based –     ICRA         46      Rating
                                        Term Loam             B+(Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Prashanth Educational Society           LT - Unallocated      ICRA         24
                                                              B+(Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
R.S. Melgiri& Co.                       LT - Fund Based/ CC   ICRA         47.5
                                                              B+(Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
R.S. Melgiri& Co.                       LT - Unallocated      ICRA         102.5
                                                              B+(Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Riddhi Agro Industries                  FB Limits- CC         ICRA B+      180
                                                              (Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Riddhi Agro Industries                  Unallocated Limits    ICRA B+      9.4
                                                              (Stable)
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Rucha Engineers Pvt Ltd                 LT, FB, TL            ICRA A-      674     Reaffirmed
outlook revised to Stable from Positive
Rucha Engineers Pvt Ltd                 LT, FB, CC            ICRA A-      290     Reaffirmed
outlook revised to Stable from Positive
Sf Dyes                                 LT - FB – CC          ICRA B+      65      Revised from
                                                              (Stable)             ICRA
                                                                                   BB-(Stable)
Sf Dyes                                 LT/ ST - Unallocated  ICRA B+      35
                                                              (Stable)
Revised from ICRA BB-(Stable)/ICRA A4 Reaffirmed
Sharpline Automation Pvt Ltd            Fund Based - CC(CC)       -        20.5
Downgraded to ICRA D from ICRA B+ (Stable), and simultaneously upgraded to ICRA B- (Stable) from
ICRA D
Sharpline Automation Pvt Ltd            Fund Based - TL (TL)      -        12.9
Downgraded to ICRA D from ICRA B+ (Stable), and simultaneously upgraded to ICRA B- (Stable) from
ICRA D
Sharpline Automation Pvt Ltd            Fund Based - Packing       -       10
                                        Credit (PC)
Downgraded to ICRA D from ICRA A4, and simultaneously upgraded to ICRA A4 from ICRA D
Sharpline Automation Pvt Ltd            Non-Fund Based - Bk        -       45
                                        Guarantee (BG)
Downgraded to ICRA D from ICRA A4, and simultaneously upgraded to ICRA A4 from ICRA D
Sharpline Automation Pvt Ltd            Non-Fund Based -           -      15
                                        Letter of Credit (LC)
Downgraded to ICRA D from ICRA A4, and simultaneously upgraded to ICRA A4 from ICRA D
Sharpline Automation Pvt Ltd            Unallocated                -       16.9
Downgraded to ICRA D from ICRA B+ (Stable), and simultaneously upgraded to ICRA B- (Stable) from
ICRA D
Shri Lakshmi Metal Udyog Ltd            Fund based-TL         ICRA         500     Reaffirmed
                                                              AA-(Stable)
Shri Lakshmi Metal Udyog Ltd            Fund based - Working  ICRA         900     Reaffirmed
                                        Capital Fac           AA-(Stable)
Shri Shyam Polycoat Pvt. Ltd.           LT - Fund Based – CC  ICRA B+      20
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category Type of Instrument
Shri Shyam Polycoat Pvt. Ltd.           LT Fund based – TL    ICRA B+      28
                                                              (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category Type of Instrument
Shri Shyam Polycoat Pvt. Ltd.           LT / ST – Unallocated ICRA B+      4.5
                                                              (Stable)
                                                              /ICRA A4
Continues to remain under the ‘Issuer Not Cooperating’ category Type of Instrument
Sort India Enviro Solutions Ltd         16.68% UNSECURED      ICRA D       -
                                        REDEEMABLE NCD. F
                                        GROUP DEBT INSTRUEMNT 
                                        SERIES 1-400. DATE OF 
                                        MATURITY 24/08/2019
Removed from under review for confirmation of ISIN status/Issuer Not Cooperating
Sri Sathyanarayana Education            LT – TL               ICRA         160
Trust (Erstwhile Sri                                          BB+(Stable)
Sathyanarayana Educational Society)
(Downgraded from ICRA BBB(Stable) and continues to remain under Issuer Not Cooperating
category.)
Ss Developers                           LT - Fund Based TL    ICRA B+      355
                                                              (Stable)
Downgraded from ICRA BB(SO)(Stable) and continues to remain under Issuer Not
Vinayak International                   LT Fund Based-CC      ICRA B+      200
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Reliance Commercial Finance Ltd         -                     -            -       ISSUER NOT
                                                                                   COOPERATING
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity.)
Reliance Home Finance Ltd               -                     -            -       ISSUER NOT
                                                                                   COOPERATING
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity.)
Roop Technology Pvt Ltd                 LT / ST Unallocated   ICRA B      6.3     -
                                                              (Stable)
                                                              /ICRA A4
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Roop Technology Pvt Ltd                 LT FB / Non FB        ICRA B      143.7   -
                                                              (Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Roop Technology Pvt Ltd                 LT Interchangeable    ICRA B      -       -
                                                              (Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shree Ram Cotton Industries             FB-CC                 ICRA B+     65      -
(Tankara)                                                     (Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Shree Ram Cotton Industries             Unallocated Limit     ICRA B+     21.3    -
(Tankara)                                                     (Stable)/A4
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Virgo Laminates Ltd                     FB Limits             ICRA         745     Assigned
                                                              A(Stable)            /outstanding
--------------------------------------------------------------------------------------------
$: 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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