November 5, 2018 / 11:38 AM / 7 months ago

RPT-ICRA ratings for Indian debt instruments-Nov 5

 (Repeating to add more ratings)
    Nov 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 2, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anglo-French Drugs &                    ST non-fund based     ICRA A4+     70      Assigned
Industries Ltd                                                                     /outstanding
Bharat Financial Inclusion Ltd          CP programme          ICRA A1+     1000    Reaffirmed
Brijbasi Art Press Ltd                  ST: Non-fund Based    ICRA A4+     63      Assigned
Cargill India Pvt Ltd                   Fund based/ Non-FB FacICRA A1+      -      Reaffirmed
Cargill India Pvt Ltd                   ST Non-fund based     ICRA A1+     10600** Reaffirmed
**100% cash backed facility
Kanishk Metal Recycling Pvt Ltd         ST: Non-FB Fac        ICRA A4+     20      Upgraded
                                                                                   from ICRA A4
Ksb Ltd                                 ST – FB               ICRA A1+     2400    Reaffirmed
Ksb Ltd                                 ST – Non-fund based   ICRA A1+     8850    Reaffirmed
National Fertilizers Ltd                ST-Non-FB Fac         ICRA A1+     30000   Reaffirmed
National Fertilizers Ltd                CP^                   ICRA A1+     50000   Reaffirmed
^CP programme has been carved out of the long-term fund-based facilities and total utilization
of CP and ICD combined should not exceed the sanctioned limits for long term fund-based
facilities
National Fertilizers Ltd                ST limits un-allocatedICRA A1+     2154    Reaffirmed
Nirma Ltd                               CP Programme          ICRA A1+     15000   Reaffirmed
Parakh Agro Industries Ltd              ST - Non Fund Based   ICRA A2+     320     Reaffirmed
Parakh Foods And Oils Ltd               ST - Non Fund Based   ICRA A2+     1020    Reaffirmed
Parakh Foods And Oils Ltd               ST – Interchangeable  ICRA A2+     -       Reaffirmed
Piramal Glass Pvt Ltd                   ST, Non-FBL           ICRA A2      1500    outstanding
Piramal Glass Pvt Ltd                   Short-TL              ICRA A2      5000    outstanding
 
LONG TERM RATINGS:
-------------------
Ab Hotels Ltd                           LT TL                 ICRA BB+     140     Reaffirmed
Ab Hotels Ltd                           LT – Unallocated      ICRA BB+     60      Reaffirmed
                                        limits
Anglo-French Drugs Amp;                 LT FB /CC             ICRA BB      170     outstanding
Industries Ltd
Anglo-French Drugs Amp;                 LT FB TL              ICRA BB      30      outstanding
Industries Ltd
Bharat Financial Inclusion Ltd          LT/ST borrowing       ICRA A+/A1+  1000    Reaffirmed
                                        programme
Brijbasi Art Press Ltd                  LT: Fund Based/CC     ICRA BB+     250     Assigned
Brijbasi Art Press Ltd                  LT: Fund Based/TL     ICRA BB+     16.2    Assigned
Brijbasi Art Press Ltd                  LT/ST: Unallocated    ICRA BB+ /   10.8    Assigned
                                                              ICRA A4+
Cargill India Pvt Ltd                   Fund Based/Non-FB Fac ICRA AA+(S)  -       Reaffirmed/
                                        (part of the regional /ICRA A1+(S)         re-assigned
                                        umbrella Fac for Asia Pacific subsidiaries from ICRA A1+
Kanishk Metal Recycling Pvt Ltd         LT: Term-Loan Fac     ICRA BB      23.6    Upgraded
                                                                                   from ICRA BB-
Kanishk Metal Recycling Pvt Ltd         LT: FB Fac            ICRA BB      50      Upgraded
                                                                                   from ICRA BB-
Kanishk Metal Recycling Pvt Ltd         LT / ST: Unallocated  ICRA BB/     93.6    Upgraded
                                                              ICRA A4+             from ICRA
                                                                                   BB-/ ICRA A4
Krishna Maruti Ltd                      LT TL                 ICRA AA-     150     Reaffirmed
Krishna Maruti Ltd                      LT/ST – Fund          ICRA         900     Reaffirmed
                                        based/Non-fund based**AA-/ICRA A1+
**Fund-based and Non-fund-based limits are interchangeable 
Ksb Ltd                                 LT – FB               ICRA AA+     750     Upgraded
                                                                                   from ICRA AA
National Fertilizers Ltd                LT-CC Limits          ICRA AA      50000   Reaffirmed
National Fertilizers Ltd                TL                    ICRA AA      3626    Reaffirmed
Nirma Ltd                               NCD                   ICRA AA      10000   Reaffirmed
Parakh Agro Industries Ltd              LT - Fund Based TL    ICRA A       800     Reaffirmed
Parakh Agro Industries Ltd              LT - Fund Based/ CC   ICRA A       1620    Reaffirmed
Parakh Foods And Oils Ltd               LT - Fund Based TL    ICRA A       400     Reaffirmed
Parakh Foods And Oils Ltd               LT - Fund Based/ CC   ICRA A       1260    Reaffirmed
Piramal Glass Pvt Ltd                   Long-TL               ICRA BBB+    3500    Assigned
                                                                                   /outstanding
Piramal Glass Pvt Ltd                   LT / ST, FB Limits^   ICRA BBB+    3150    outstanding
                                                              /ICRA A2
^Fund-based limits are completely interchangeable between long-term and short-term exposures
such that the total fund-based limits utilisation should not exceed Rs. 315 crore
Maharaja Sathyam Industries             LT –FB                ICRA B+      59      -
Pvt Ltd
(Issuer did not cooperate; based on best available information)
 
--------------------------------------------------------------------------------------------
$: 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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