November 6, 2017 / 10:57 AM / 16 days ago

RPT-ICRA ratings for Indian debt instruments-Nov 6

 (Repeating to add additional ratings as of  November 3, 2017)
    Nov 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 3, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Asian Resurfacing Of Road               ST-Non-Fundbased      ICRA A4      132.5   Issuer not
Agency Pvt Ltd                          Limits                                     cooperating
C.G. Chandrappa                         ST Non-fundbased- BG  ICRA A4      64      Issuer not
                                                                                   cooperating
Hsil Ltd                                CP                    ICRA A1+     3000    Assigned
                                                                                   /Outstanding
(enhanced from 50.00crs)
Idfc Bank Ltd                           CDs Programme         ICRA A1+     300000  Outstanding
Idfc Ltd                                CP Programme          ICRA A1+     15000   Reaffirmed
Indian Potash Ltd                       ST: Non-FB Fac        ICRA A1+     69500   Reaffirmed
Indian Potash Ltd                       ST: CP                ICRA A1+     8000    Reaffirmed
Infrastructure Leasing And              CP                    ICRA A1+     17000   Assigned
Financial Services Ltd
(enhanced from 1,000crs)
Kamadgiri Fashion Ltd                   Non FB Limits         ICRA A3+     90      Upgraded
                                                                                   from ICRA A3
Murugappa Holdings Ltd                  CP                    ICRA A1+     300     Withdrawn
Phoenix Lamps Ltd                       ST non-fund based Bk  ICRA A1      187     Withdrawn
                                        Fac
Rashtriya Ispat Nigam Ltd               CP/ST Debt Programme  ICRA A2+     20000   Assigned
Shriram City Union Finance Ltd          CP programme          ICRA A1+     20250   Assigned
                                                                                   /Outstanding
enhanced from Rs. 25.00 crore
Sundaram Finance Ltd                    CP                    ICRA A1+     50000   Reaffirmed
The Tinplate Company Of India           Fund based- ST Fac    ICRA A1+     150     Reaffirmed
Ltd
The Tinplate Company Of India           Non-fund based- ST    ICRA A1+     1470    Reaffirmed
Ltd                                     Fac^
^includes Rs. 35 crore which is interchangeable with the long term fund based facilities
Venkateshwara Hatcheries Pvt            Short-TL              ICRA A3+     3500    Upgraded
Ltd                                                                                from ICRA A3
Venkateshwara Hatcheries Pvt            Non fund Based        ICRA A3+     137     Upgraded
Ltd                                                                                from ICRA A3
Venky’S India Ltd                       Short-TL              ICRA A2      750     Upgraded
                                                                                   from ICRA A3+
Venky’S India Ltd                       ST Non fund Based     ICRA A2      75      Upgraded
                                                                                   from ICRA A3+
Anglo French Drugs &                    ST- NFBL              ICRA A3      60
Industries Ltd
Review process is underway
Kanchan Auto Pvt Ltd                    FB Fac                ICRA A1+     110     Assigned
Review process is underway
Kanchan Auto Pvt Ltd                    Non-FB Fac            ICRA A1+     200     Assigned
Review process is underway
Shriram Properties Pvt Ltd              Non-fund Based – ST   ICRA A3+     350     Withdrawn
Surya Roshni Ltd                        CP Programme          ICRA A1 (SO) 200     Outstanding
Under rating watch with negative implications
Surya Roshni Ltd                        CP Programme          ICRA A1+     1300    Reaffirmed
                                                              (SO)
Surya Roshni Ltd                        CP Programme          ICRA A1+     1750    Outstanding
                                                              (SO)

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          Fixed deposit         MAA+         -       Outstanding
                                        Programme
Sundaram Finance Ltd                    Fixed Deposits        MAAA         -       Reaffirmed

LONG TERM RATINGS:
-------------------
Action Retail Ventures Pvt Ltd          FB Limits             ICRA B+      74      Withdrawn
Amiya Commerce & Construction           FB-limit- cashcredit  ICRA D       125     Issuer not
Co. Pvt Ltd                             facility                                   cooperating
Amiya Commerce & Construction           Non-FB-limit          ICRA D       100     Issuer not
Co. Pvt Ltd                                                                        cooperating
Amiya Commerce & Construction           Unallocated Limits    ICRA D       30      Issuer not
Co. Pvt Ltd                                                                        cooperating
Asian Resurfacing Of Road               LT-FB Limits          ICRA BB-     5       Issuer not
Agency Pvt Ltd                                                                     cooperating
Bhilwara Green Energy Ltd               NCD                   ICRA BBB&    1774.4  Reaffirmed
& - Under watch with developing implications
C.G. Chandrappa                         LT FBSecured Over     ICRA BB-     50      Issuer not
                                        Draft                                      cooperating
C-Edge Technologies Ltd                 LT/ ST, non-FB Fac    ICRA AA- /   250     Reaffirmed
                                                              ICRA A1+
Cosmos Jewellers Pvt Ltd                LT fundbased limits   ICRA D       200     Issuer not
                                                                                   cooperating
Dish Infra Services Pvt Ltd             Long-TL               ICRA A+#     4000    Reaffirmed
Ferro Alloys Corporation Ltd            Fund Based Bk Fac (TL)ICRA D       55      Downgraded
                                                                                   from ICRA C
Ferro Alloys Corporation Ltd            FB Fac (Working       ICRA D       439     Downgraded
                                        Capital)                                   from ICRA C
Ferro Alloys Corporation Ltd            Non-fund based Bk Fac ICRA D       604.9   Downgraded
                                        (Working Capital)                          from ICRA A4
Hero Wind Energy Pvt. Ltd.              NCD                   ICRA A#      3150
Idfc Bank Ltd                           NCD Programme         ICRA AAA     372821.2Outstanding
Idfc Bank Ltd                           NCD Programme         ICRA AAA     100000  Outstanding
Idfc Bank Ltd                           NCD Programme         ICRA AAA     67018.8 Withdrawn
Ifmr Capital Finance Pvt                NCDs                  ICRA A-(SO)  -       Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA
XV 2016                                                                            BBB+(SO)
Ifmr Capital Finance Pvt                NCDs                  ICRA A-(SO)  -       Upgraded
Ltd-Ifmr                                                                           from ICRA 
Capital P.B.I.                                                                     BBB+(SO)
XV 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA A-(SO)  -       Upgraded
Ltd-Ifmr                                                                           from ICRA
Capital P.B.I.                                                                     BBB+(SO) 
XV 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA A-(SO)  -       Upgraded
Ltd-Ifmr                                                                           from ICRA 
Capital P.B.I.                                                                     BBB+(SO)
XV 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA A-(SO)  -       Upgraded
Ltd-Ifmr                                                                           from ICRA
Capital P.B.I.                                                                     BBB+(SO)
XV 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr                                                                           from ICRA
Capital P.B.I. XVI                                                                 BBB(SO)
2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA    
XVI                                                                                BBB(SO)  
2016 
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA
XVI 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA
XVI 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA
XVI 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA
XVI 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA BBB+(SO)        Upgraded
Ltd-Ifmr Capital P.B.I.                                                            from ICRA    
XVI 2016
Ifmr Capital Finance Pvt                NCDs                  ICRA A(SO)   -       Withdrawn
Ltd-Ifmr
Capital
M.I.B.XII 2015
Ifmr Capital Finance Pvt                NCDs                  ICRA A(SO)   -       Withdrawn
Ltd-Ifmr
Capital M.I.B.XII 2015
Ifmr Capital Finance Pvt                NCDs                  ICRA A(SO)   -       Withdrawn
Ltd-Ifmr
Capital M.I.B.XII 2015
Ifmr Capital Finance Pvt                NCDs                  ICRA A(SO)   -       Withdrawn
Ltd-Ifmr
Capital M.I.B.XII 2015
Ifmr Capital Finance Pvt                NCDs                  ICRA A(SO)   -       Withdrawn
Ltd-Ifmr
Capital M.I.B.XII 2015
Ifmr Capital Finance Pvt                NCDs                  ICRA         -       Withdrawn
Ltd-Ifmr Capital M.I.B.Xii 2015                               BBB+(SO)
Indian Potash Ltd                       LT: FB Fac            ICRA A+      11000   Reaffirmed
Infrastructure Leasing And              LT – TL               ICRA AAA     3500    Outstanding
Financial Services Ltd
Infrastructure Leasing And              NCD Programme         ICRA AAA     44750   Outstanding
Financial Services Ltd
Kamadgiri Fashion Ltd                   FB Limits             ICRA BBB     500     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Karda Constructions Ltd                 Fund -based TL Limits ICRA BB-     310     Reaffirmed
Karda Constructions Ltd                 Fund -based CC Limits ICRA BB-     330     Reaffirmed
Karda Constructions Ltd                 Fund and Non FB LimitsICRA BB-/    360     Reaffirmed
                                                              ICRA A4              /Assigned
Lnj Power Ventures Ltd                  TL                    ICRA BBB+#   842.4                
                                                              
Maheshwari Structures                   FBL – TL              ICRA B       11      Issuer not
                                                                                   cooperating
Maheshwari Structures                   FBL – CC              ICRA B       50      Issuer not
                                                                                   cooperating
Modern Machinery Store                  LT-FB Limits          ICRA B       92      Issuer not
                                                                                   cooperating
Modern Machinery Store                  LT-Non-FB Limits      ICRA B       3       Issuer not
                                                                                   cooperating
Panchsheel Solvent Pvt Ltd              FB – TL               ICRA D       122.5   Issuer not
                                                                                   cooperating
Panchsheel Solvent Pvt Ltd              FB – CC               ICRA D       125     Issuer not
                                                                                   cooperating
Phoenix Lamps Ltd                       LT FB Bk Fac          ICRA A       1063    Withdrawn
Raja Charity Trust                      LT: TL                ICRA AA+(SO) 386.9   Reaffirmed
(revised from 47.80crs)
Raja Charity Trust                      LT: Unallocated limitsICRA AA+(SO) 36.6    Reaffirmed
(revised from 2.20crs)
Rashmi Housing Pvt Ltd                  FBL                   ICRA D       650     Issuer not
                                                                                   cooperating
Ravi Iron Ltd                           FB Limits             ICRA BB-     420     Reaffirmed
(enhanced from 40.0crs)
Sbc Minerals Pvt Ltd                    LT – Fund Based – CC  ICRA B+      200     Issuer not
                                                                                   cooperating
Shriram City Union Finance Ltd          NCDs                  ICRA AA      250     Outstanding
Shriram Transport Finance Co.           subordinated debt     ICRA AA      500     Withdrawn
Ltd                                     programme
Sri Vaibhav Muruga Agro Tech            FBL                   ICRA B+      131     Reaffirmed
Industries
(revised from 12.74crs)
Sri Vaibhav Muruga Agro Tech            Unallocated Limits    ICRA B+      69      Reaffirmed
Industries
(revised from 7.26crs)
Sundaram Finance Ltd                    NCDs                  ICRA AAA     69818   Upgraded
                                                                                   from ICRA AA+
Sundaram Finance Ltd                    Subordinated          ICRA AAA     14571   Upgraded
                                        Debentures                                 from ICRA AA+
Sundaram Finance Ltd                    LT Loans from Bks     ICRA AAA     10000   Upgraded
                                                                                   from ICRA AA+
Sundaram Finance Ltd                    FBL from Bks          ICRA AAA     22500   Upgraded
                                                                                   from ICRA AA+
Sundaram Finance Ltd                    Non-FBL from Bks      ICRA AAA     80.8    Upgraded
                                                                                   from ICRA AA+
The Tinplate Company Of India           Fund based - LT Fac** ICRA AA-     1060    Reaffirmed
Ltd
**includes Rs. 60 crore of short term fund based facilities
Tirunelveli Vayu Energy                 LT: TL Fac            ICRA BB      100     Assigned
Generation Pvt Ltd
Venkateshwara Hatcheries Pvt            TL                    ICRA BBB     3118.7  Upgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
Venkateshwara Hatcheries Pvt            CC                    ICRA BBB     2395    Upgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
Venkateshwara Hatcheries Pvt            LT -unallocated       ICRA BBB     61.3    Upgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
Venky’S India Ltd                       TL                    ICRA BBB+    2229.6  Upgraded
                                                                                   from ICRA BBB
Venky’S India Ltd                       CC                    ICRA BBB+    3050    Upgraded
                                                                                   from ICRA BBB

Aditya Hi-Tech Cold Storage             FBL                   ICRA B       70.5
Issuer not cooperating
Aditya Hi-Tech Cold Storage             Unallocated limits    ICRA B /A4   9.5
Issuer not cooperating
Anglo French Drugs &                    LT- TL Fac            ICRA BBB-    10
Industries Ltd
Review process is underway
Anglo French Drugs &                    LT-FBL                ICRA BBB-    170
Industries Ltd
Review process is underway
Anmol Cold Storage                      FBL                   ICRA B       71.5
Issuer not cooperating
Anmol Cold Storage                      Unallocated limits    ICRA B /A4   8.5
Issuer not cooperating
Annapurna Trading Company               BLR                   ICRA B/ A4   100
Issuer not cooperating
Hexagon Nutrition (Exports)             BLR                   ICRA BBB     163
Pvt Ltd                                                       /A3+
Review process is underway
Hexagon Nutrition                       BLR                   ICRA BBB     135
(International) Pvt Ltd                                       /A3+
Review process is underway
Hexagon Nutrition Pvt Ltd               BLR                   ICRA BBB     220
                                                              /A3+
Review process is underway
Indian Renewable Energy                 Tax-free bonds        ICRA AA+     20000   Reaffirmed
Development Agency Ltd
Indian Renewable Energy                 TBs                   ICRA AA+     20000   Reaffirmed
Development Agency Ltd
Indian Renewable Energy                 GoI fully serviced    ICRA AAA     40000   Reaffirmed
Development Agency Ltd                  bonds
Kanchan Auto Pvt Ltd                    TL                    ICRA A+      525     Reaffirmed
Review process is underway
Kanchan Auto Pvt Ltd                    CC Facility           ICRA A+      150     Assigned
Review process is underway
Kanchan Auto Pvt Ltd                    FB Fac                ICRA A+ /A1+ 440     Assigned
Review process is underway
Padmashri Dr Vitthalrao Vikhe           LT, FBL – CC          ICRA BB      2500
Patil Sahakari Sakhar Karkhana
Ltd
Issuer not cooperating
Padmashri Dr Vitthalrao Vikhe           LT, FBL – TL          ICRA BB      1100
Patil Sahakari Sakhar Karkhana
Ltd
Issuer not cooperating
Pro Body Balance Pvt Ltd                BLR                   ICRA BB- /A4 1000
Issuer not cooperating
Shapoorji Pallonji Energy               BLR                   ICRA AA-     2400
(Gujarat) Pvt Ltd
Review process is underway
Shapoorji Pallonji Energy               NCD                   ICRA AA (SO) 2000
(Gujarat) Pvt Ltd
Review process is underway
Shree Ram Kripa Buildhome Pvt           FBL                   ICRA B+      150
Ltd
Info and fee not provided
Shriram Properties Pvt Ltd              TL – LT               ICRA BBB     443.3   Reaffirmed
reduced from 100 CR
Shriram Properties Pvt Ltd              Unallocated – LT      ICRA BBB     64      Reaffirmed
Shriram Properties Pvt Ltd              FB – LT               ICRA BBB     50      Withdrawn
Shriram Properties Pvt Ltd              Proposed NCD          ICRA BBB     1800    Assigned
--------------------------------------------------------------------------------------------
$: 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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