November 3, 2017 / 11:07 AM / in 12 days

RPT-ICRA ratings for Indian debt instruments-Nov 3

 (Repeating to add more ratings)
   Nov 3 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 2, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ag Granites Pvt Ltd                     ST – FB               ICRA A3      140     Reaffirmed
Ag Granites Pvt Ltd                     ST – Non-fund based   ICRA A3      18      Reaffirmed
Amman Granites                          ST – FB               ICRA A4+     220     Reaffirmed
enhanced from Rs. 13.50 crore
Amman Granites                          ST – Non-fund Based   ICRA A4+     60      Reaffirmed
enhanced from Rs. 2.30 crore
Barbeque Nation Hospitality             CP                    ICRA A1+     150     Upgraded
Ltd                                                                                from ICRA A1
Cipy Polyurethanes Pvt Ltd              Non FB Fac            ICRA A3      172.5   Issuer not
                                                                                   cooperating
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP                    ICRA A1+     63500   Outstanding
Ltd
Edelweiss Financial Services            ST NCD Programme      ICRA A1+     1000    Outstanding
Ltd
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     50000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+     40000   Withdrawn
Ltd                                     financing)
Equinox Solutions Ltd                   LOC                   ICRA A4
Issuer not cooperating
Equinox Solutions Ltd                   Credit Exposure LimitsICRA A4
Issuer not cooperating
Flexituff International Ltd             Non-fund based        ICRA A2      2930    Reaffirmed
Fortis Healthcare Ltd                   CP/STD                ICRA A1+     6000    Outstanding
earlier 1000 CR
Fortis Healthcare Ltd                   Non-FB Limits         ICRA A1+     200     Outstanding
Il&Fs Securities Services Ltd           CP programme          ICRA A1+     9000    Assigned /
                                                                                   Outstanding
(enhanced from 400.00 CR)
Il&Fs Securities Services Ltd           ST Bk lines           ICRA A1+     3500    Outstanding
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     75000   Assigned
                                        financing)
Infina Finance Pvt Ltd                  CP Programme (IPO     ICRA A1+     75000   Outstanding
                                        financing)
Infina Finance Pvt Ltd                  CP Programme          ICRA A1+     4500    Outstanding
K K Silk Mills Pvt Ltd                  Non Fund based – LOC  ICRA A4+     10      Reaffirmed
K K Silk Mills Pvt Ltd                  Non Fund based – BG   ICRA A4+     0.5     Reaffirmed
K.C. Toolroom Pvt Ltd                   Non-FBL – BG          ICRA A4      3
Issuer not cooperating
Kotak Mahindra Investments Ltd          CP Programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
Kotak Mahindra Investments Ltd          CP Programme (IPO     ICRA A1+     20000   Outstanding
                                        financing)
Kotak Mahindra Investments Ltd          CP Programme          ICRA A1+     55000   Outstanding
Kotak Mahindra Prime Ltd                CP Programme (IPO     ICRA A1+     20000   assigned
                                        financing)
Kotak Mahindra Prime Ltd                CP Programme (IPO     ICRA A1+     20000   Outstanding
                                        financing)
Kotak Mahindra Prime Ltd                CP Programme          ICRA A1+     90000   Outstanding
Mangalore Refinery And                  ST / Working Capital  ICRA A1+     3000    Reaffirmed
Petrochemicals Ltd                      Demand Loan
Mangalore Refinery And                  Non-FBL               ICRA A1+     40000   Reaffirmed
Petrochemicals Ltd
Mangalore Refinery And                  CP / ST Debt          ICRA A1+     9000    Outstanding
Petrochemicals Ltd
N.D. Gupta & Sons                       NFBL                  ICRA A4      40      Issuer not
                                                                                   cooperating
Narendra Dev Girrajji                   NFBL                  ICRA A4      50      Issuer not
Constructions (Jv)                                                                 cooperating
Narendra Dev Railways                   NFBL                  ICRA A4+     287     Issuer not
                                                                                   cooperating
Reliance Industries Ltd                 CPs (CP)              ICRA A1+     100000  Outstanding
Sharekhan Financial Services            CP programme (for IPO ICRA A1+     20000   Assigned /
Pvt Ltd                                 financing)                                 Outstanding
(enhanced from 1,000 CR)
Sharekhan Financial Services            CP programme/ST debt  ICRA A1+     10000   Outstanding
Pvt Ltd                                 programme
Sri Vinayakha Spinning Mills            ST – Non-fund based   ICRA A4      19.6    Issuer not
Pvt Ltd                                                                            cooperating
Toyota Financial Services               CP programme          ICRA A1+     5000    Assigned

LONG TERM RATINGS:
-------------------
Ag Granites Pvt Ltd                     LT – FB               ICRA BBB-    90      Reaffirmed
Ag Granites Pvt Ltd                     LT Unallocated        ICRA BBB-    17      Reaffirmed
                                                              /A3
Amman Granites                          LT – FB               ICRA BB+     130     Reaffirmed
enhanced from Rs. 10.00 crore
Aneesh Ahmad Khan                       Bk limits^            ICRA C+ /A4  70.8
Issuer not cooperating
Arjandass & Sons                        Bk Loans              ICRA B+/     75      Issuer not
                                                              ICRA A4              cooperating
Barbeque Nation Hospitality             TL                    ICRA A+      925     Reaffirmed
Ltd
Barbeque Nation Hospitality             Proposed TL           ICRA A+      75      Reaffirmed
Ltd
Bodhre Dhule Highway                    Proposed TL           ICRA BBB+    3000    Assigned
Bodhre Dhule Highway                    Proposed Non-FBL      ICRA BBB+    1080    Assigned
Cipy Polyurethanes Pvt Ltd              TL                    ICRA BBB-    66.2    Issuer not
                                                                                   cooperating
Cipy Polyurethanes Pvt Ltd              CC                    ICRA BBB-    237.5   Issuer not
                                                                                   cooperating
Cipy Polyurethanes Pvt Ltd              FB Fac                ICRA BBB-    20$     Issuer not
                                                                                   cooperating
$ Sublimit to cash credit facility
Coatings And Coatings (India)           Bk Loans              ICRA BB+ /   240     Issuer not
Pvt. Ltd.                                                     ICRA A4+             cooperating
Dlf Power And Services Ltd              TL                    Provisional  10550   Final
                                                              ICRA A(SO)
Dlf Power And Services Ltd              Fund Based            Provisional  250     Final
                                                              ICRA A(SO)
Edelweiss Financial Services            NCD programme         ICRA AA      5000    Outstanding
Ltd
Equinox Solutions Ltd                   CC                    ICRA BB-     49.5
Issuer not cooperating
Equinox Solutions Ltd                   Unallocated Limits    ICRA BB- /A4 50.5
Issuer not cooperating
Flexituff International Ltd             TL                    ICRA BBB+    370     Reaffirmed
Flexituff International Ltd             FB – CC               ICRA BBB+    2890    Reaffirmed
Fortis Healthcare Ltd                   NCDs                  ICRA A+      2500    Outstanding
Fortis Healthcare Ltd                   FB Limits             ICRA A+      1050    Outstanding
Fortis Healthcare Ltd                   TL                    ICRA A+      1950    Outstanding
Gsco Infrastructure Pvt. Ltd.           CC                    ICRA BB+     64      Issuer not
                                                                                   cooperating
Gsco Infrastructure Pvt. Ltd.           BG                    ICRA BB+     400     Issuer not
                                                                                   cooperating
Gvs Projects Pvt Ltd                    LT fund based         ICRA]BB      45      Upgraded
                                                                                   from ICRA B+
Gvs Projects Pvt Ltd                    LT Non fund based     ICRA]BB      350     Upgraded
                                                                                   from ICRA B+
(revised from Rs. 7.00 crore)
Gvs Projects Pvt Ltd                    LT – Unallocated      ICRA]BB      155     Upgraded
                                                                                   from ICRA B+
(revised from Rs. 3.50 crore)
Haldwani Municipal Corporation          Issuer Rating         ICRA BB      -       Assigned
Hitech Hydraulics                       BLR                   ICRA BB-     100     Issuer not
                                                                                   cooperating
Hi-Tech Pipes Ltd                       TL                    ICRA BBB-    150     Issuer not
                                                                                   cooperating
Hi-Tech Pipes Ltd                       FB/ NonFBL            ICRA BBB-    100     Issuer not
                                                              /ICRA A3             cooperating
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Goldstein Ifmr Capital                                                        from ICRA
2016                                                                               B(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Goldstein Ifmr Capital                                                        from ICRA
2016                                                                               BB(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA B (SO)          Downgraded
Ltd- Leonardo Ifmr Capital 2016                                                    from ICRA
                                                                                   B(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA BB-             Downgraded
Ltd- Leonardo Ifmr Capital 2016                               (SO)                 from ICRA
                                                                                   BB-(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Moses Ifmr Capital 2016                                                       from ICRA
                                                                                   B(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Moses Ifmr Capital 2016                                                       from ICRA
                                                                                   BB(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Napoleon Ifmr Capital 2016                                                    from ICRA
                                                                                   BB-(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Napoleon Ifmr Capital 2016                                                    from ICRA
                                                                                   BB+(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA B (SO)          Downgraded
Ltd- Oceania Ifmr Capital 2016                                                     from ICRA
                                                                                   BB+(SO)
Janalakshmi Financial Services          PTC Series A3         ICRA C (SO)          Downgraded
Ltd- Oceania Ifmr Capital 2016                                                     from ICRA
                                                                                   B(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Raphael Ifmr Capital 2016                                                     from ICRA
                                                                                   C-(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Raphael Ifmr Capital 2016                                                     from ICRA
                                                                                   C+(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Smith Ifmr Capital 2016                                                       from ICRA
                                                                                   B(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Smith Ifmr Capital 2016                                                       from ICRA
                                                                                   BB(SO)
Janalakshmi Financial Services          PTC Series A2         ICRA C- (SO)         Downgraded
Ltd- Syme Ifmr Capital 2016                                                        from ICRA
                                                                                   B(SO)
Janalakshmi Financial Services          PTC Series A1         ICRA C+ (SO)         Downgraded
Ltd- Syme Ifmr Capital 2016                                                        from ICRA
                                                                                   BB-(SO)
K K Silk Mills Pvt Ltd                  FB – CC               ICRA BB+     257.5   Reaffirmed
K K Silk Mills Pvt Ltd                  Fund based – TL       ICRA BB+     62.1    Reaffirmed
(revised from 10.02crs)
K K Silk Mills Pvt Ltd                  Unallocated Limit     ICRA BB+ /   38.1    Reaffirmed
                                                              ICRA A4+
K.C. Toolroom Pvt Ltd                   FBL – TL              ICRA BB-     30
Issuer not cooperating
K.C. Toolroom Pvt Ltd                   FBL – TL              ICRA BB-     4
Issuer not cooperating
K.C. Toolroom Pvt Ltd                   FBL – Vehicle Loan    ICRA BB-     4
Issuer not cooperating
K.C. Toolroom Pvt Ltd                   FBL – CC              ICRA BB-     135.6
Issuer not cooperating
Kolar Paper Mills Ltd                   FBL                   ICRA BB      510     Upgraded
                                                                                   from ICRA B+
revised from Rs. 60.62 crore
Kolar Paper Mills Ltd                   Non-FBL               ICRA BB      5       Upgraded
                                                                                   from ICRA B+
Kolar Paper Mills Ltd                   Unallocated Limits    ICRA BB      230     Upgraded
                                                                                   from ICRA B+
revised from Rs. 13.38 crore
Koppal Green Power Ltd                  TL                    ICRA BB-     26.3    Reaffirmed
revised from Rs. 2.54 crore
Koppal Green Power Ltd                  CC                    ICRA BB-     180     Reaffirmed
revised from Rs. 14 crore
Koppal Green Power Ltd                  BG                    ICRA BB-     30      Reaffirmed
revised from Rs. 2 crore
Koppal Green Power Ltd                  LT - Unallocated      ICRA BB-     3.7     Reaffirmed
revised from Rs. 0.46 crore
Kotak Mahindra Investments Ltd          Subordinated Debt     ICRA AAA     2000    Outstanding
                                        Programme
Kotak Mahindra Prime Ltd                NCDs                  ICRA AAA     2519    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
Liners India Ltd                        BLR                   ICRA C/ICRA  500     -
                                                              A4
Mangalore Refinery And                  FBL                   ICRA AAA     27000   Reaffirmed
Petrochemicals Ltd
Mangalore Refinery And                  Issuer Rating         IrAAA        -       Outstanding
Petrochemicals Ltd
Mcnroe Consumer Products Pvt            Bk Fac                ICRA BBB /   520     -
Ltd                                                           ICRA A3+
Milton Cycle Industries Ltd             FB CC                 ICRA BB+     100     Reaffirmed
N.D. Gupta & Sons                       Fund BasedCC          ICRA BB-     25      Issuer not
                                                                                   cooperating
Namishree Infratech                     Term-loan             ICRA BB      280     Upgraded
                                                                                   from ICRA B+
Narendra Dev Girrajji                   Fund BasedCC          ICRA BB-     25      Issuer not
Constructions (Jv)                                                                 cooperating
Narendra Dev Railways                   Fund BasedCC          ICRA BB      119.8   Issuer not
                                                                                   cooperating
Navkar Lifesciences                     FB Limits             ICRA BB-     267.5   Reaffirmed
Print Solutions Pvt Ltd                 FB Limit              ICRA B+      190     Revised from
                                                                                   ICRA B
Purandar Milk And Agro                  FBL – TL              ICRA D       50      Issuer not
Products Ltd                                                                       cooperating
Purandar Milk And Agro                  FBL – CC              ICRA D       9       Issuer not
Products Ltd                                                                       cooperating
Purandar Milk And Agro                  Unallocated           ICRA D       11      Issuer not
Products Ltd                                                                       cooperating
Reliance Industries Ltd                 NCDs (NCD)            ICRA AAA     100000  Assigned
Reliance Industries Ltd                 NCDs (NCD)            ICRA AAA     100000  Outstanding
Revathi Modern Rice Mill                LT – FB               ICRA B+      123     Issuer not
                                                                                   cooperating
Revathi Modern Rice Mill                LT – Unallocated      ICRA B+      7       Issuer not
                                                                                   cooperating
Satin Creditcare Network                PTC Series A1         Provisional  482.2   Final
Ltd-Vivriti Aquila 002 2017                                   ICRA A-(SO)
Shree Shakti Agro Industries            Fund BasedTL          ICRA B+      9       Issuer not
                                                                                   cooperating
Shree Shakti Agro Industries            Fund BasedCC          ICRA B+      90      Issuer not
                                                                                   cooperating
Shreedhar Milk Foods Ltd                NCD Programme         ICRA D       200     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Issuer Not Cooperating
Shri Balaji Industries                  CC                    ICRA B       150     Assigned
Siddhivinayak Construction              LT- Fund based – CC   ICRA BB-     40
Issuer not cooperating
Siddhivinayak Construction              LT / ST - Non Fund    ICRA BB-     40
                                        Based – BG
Issuer not cooperating
Sri Vinayakha Spinning Mills            LT – FB               ICRA BB-     130.4   Issuer not
Pvt Ltd                                                                            cooperating
Sri Vinayakha Spinning Mills            LT/ST – Unallocated   ICRA BB- /   16.7    Issuer not
Pvt Ltd                                                       ICRA A4              cooperating
Teesta Urja Ltd                         TL                    ICRA D       40964.9 Assigned /
                                                                                   Outstanding
enhanced from 3328.90 CR
Udagiri Sugar And Power Ltd             LT, FBL – TL          ICRA BB-     325.9   Issuer not
                                                                                   cooperating
Udagiri Sugar And Power Ltd             LT, FBL – Unallocated ICRA BB-     24.1    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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