November 6, 2018 / 11:45 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Nov 6

 (Repeating to add more ratings)
    Nov 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 5, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Astron Paper And Board Mill Ltd         FBL                   ICRA A4      30      Withdrawn
(ISSUER NOT COOPERATING)
Astron Paper And Board Mill Ltd         Non-FBL               ICRA A4      254.9   Withdrawn
(ISSUER NOT COOPERATING)
Bharath Auto Cars Pvt Ltd               Fund based-Inventory  ICRA A4+     200     Downgraded
                                        financing                                  from ICRA A3
Bharath Auto Cars Pvt Ltd               BG                    ICRA A4+     50      Downgraded
                                                                                   from ICRA A3
Buywel Agencies Pvt Ltd                 Non-Fund based-BG     ICRA A4+     80      Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
C.P. Arora                              ST Non-FB             ICRA A4      82.2    Revised from
Engineers-Contractors Pvt. Ltd.                                                    ICRA A4+
C.P. Arora                              ST-Unallocated        ICRA A4      0.3     Revised from
Engineers-Contractors Pvt. Ltd.                                                    ICRA A4+
Chromachemie Laboratory Pvt Ltd         ST -Non-fund based -BGICRA A3+     450     Assigned
Famous Vitrified Pvt Ltd                Non-Fundbased-BG      ICRA A4      26.5    Withdrawn
Kalyan Jewellers India Ltd              ST -Fund based /      ICRA A2+     -       Reaffirmed
                                        Non-fundbased (sub
                                        limits)
Power Finance Corporation Ltd           ST borrowing          ICRA A1+     140000^ Outstanding
                                        programme FY2019
^Short-term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2019 not exceeding Rs. 57,000 crore
Raj Exports                             ST—Non FB             ICRA A3      50      Reaffirmed
Solizo Vitrified Pvt. Ltd.              Non-fund Based –BG    ICRA A4      30      Assigned
Tata Power Delhi Distribution           ST Debt               ICRA A1+     2000    Reaffirmed
Ltd
Tata Power Delhi Distribution           CP                    ICRA A1+     5000    Reaffirmed
Ltd
Tata Power Delhi Distribution           Non-fund based        ICRA A1+     7700    Reaffirmed
Ltd                                     -Working Capital Fac
Tessitura Monti India Pvt Ltd           FBL                   ICRA A3      1050    Downgraded
                                                                                   from ICRA A3+
Tessitura Monti India Pvt Ltd           Non-FBL               ICRA A3      140     Downgraded
                                                                                   from ICRA A3+
Venkateshwara Hatcheries Pvt            Short-TL              ICRA A2      3646.2  Upgraded
Ltd                                                                                from ICRA A3+
Venkateshwara Hatcheries Pvt            Non-fund Based        ICRA A2      137.5   Upgraded
Ltd                                                                                from ICRA A3+
Venky’S (India) Ltd                     Non-fund Based        ICRA A2+     75      Upgraded
                                                                                   from ICRA A2
India Infoline Finance Ltd              CP programme          ICRA A1+     8000    Outstanding
Industrial Solvents &Chemicals          Non-FBL               ICRA A1+     17.8    Upgraded
Pvt Ltd                                                                            from ICRA A1

MEDIUM TERM RATINGS:
-------------------
Kalyan Jewellers India Ltd              Medium term –Fixed    MA-          4000    Reaffirmed
                                        deposit
Kalyan Jewellers India Ltd              Medium term –Fixed    MA-          1250    Assigned
                                        deposit
Power Finance Corporation Ltd           Fixed deposit         MAAA         3345050^Outstanding
                                        programme
^Short-term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2019 not exceeding Rs. 57,000 crore


LONG TERM RATINGS:
-------------------
Ashiana Dwellings Pvt Ltd               FB –TL                ICRA B-      400     Assigned
Ashiana Dwellings Pvt Ltd               Non-fund based –BG    ICRA B-      100     Assigned
Ashiana Dwellings Pvt Ltd               Optionally            ICRA B-      648.1   Assigned
                                        Convertible Debenture
Ashianalandcraft Realtypvt Ltd          NCD Series I          ICRA B-      637.2   Assigned
Ashianalandcraft Realtypvt Ltd          NCD Series II         ICRA B-      162.3   Assigned
Astron Paper And Board Mill Ltd         FBL                   ICRA BB      542.5   Withdrawn
(ISSUER NOT COOPERATING)
Astron Paper And Board Mill Ltd         Unallocated Limits    ICRA BB/A4   132.6   Withdrawn
(ISSUER NOT COOPERATING)
Bharath Auto Cars Pvt Ltd               Fund based-CC         ICRA BB+     205     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Buywel Agencies Pvt Ltd                 Fund based-CC         ICRA BB+     680     Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
C.P. Arora                              Fund Based-CC         ICRA C       67.5    Revised from
Engineers-Contractors Pvt. Ltd.                                                    ICRA BB
Cessnagarden Developers Pvt Ltd         Unallocated Fac –LT   Provisional  3600    outstanding
                                                              ICRA A+
Chaitanya India Fin Credit Pvt          Bk Fac                ICRA BBB-    520     Outstanding
Ltd
Chaitanya India Fin Credit Pvt          NCD Programme         ICRA BBB-    440     Outstanding
Ltd
Chaitanya India Fin Credit Pvt          NCD Programme         ICRA BBB-    840     Outstanding
Ltd
Chaitanya India Fin Credit Pvt          Subordinated Debt     ICRA BBB-    200     Outstanding
Ltd                                     Programme
Chaitanya India Fin Credit Pvt          Market Linked NCD     PP-MLDICRA   200     Outstanding
Ltd                                     Programme             BBB-
Chromachemie Laboratory Pvt Ltd         LT-Fund based -CC     ICRA BBB     150     Assigned
                                        facility
Davariya Brothers Pvt Ltd               LT / ST -FBL          ICRA BB/A4   1550.5  Revised from
                                                                                   ICRA BB+/A4+
Famous Vitrified Pvt Ltd                Fund basedlimits-TL   ICRA BB-     100     Withdrawn
Famous Vitrified Pvt Ltd                FBL-CC                ICRA BB-     80      Withdrawn
Famous Vitrified Pvt Ltd                FBL-Book Debts*       ICRA BB-     -       Withdrawn
*Book debts of Rs. 3.00 crores (Sub-limit of cash credit)
Kalyan Jewellers India Ltd              TL                    ICRA A-      2530    Reaffirmed
Kalyan Jewellers India Ltd              LT / ST –Fund based   ICRA A-/A2+  27770   Reaffirmed
M/S. Radhanath Bhunia & Sons            M/s. Radhanath Bhunia ICRA B       60      -
                                        & Sons
(SSUER NOT COOPERATING)
Mahima Real Estate Pvt Ltd              LT FB TL              ICRA BBB     1317.5  Revised from
                                                                                   ICRA BBB+
Mass Cashews                            LTFB -CC              ICRA BB-     85      Reaffirmed
Mass Cashews                            LT –un allocated      ICRA BB-     5       Reaffirmed
Niit Institute Of Information           FB Bk Fac: TL         ICRA BBB-    1741.5  Reaffirmed
Technology
Niit Institute Of Information           Unallocated LT Fac    ICRA BBB-    58.5    Reaffirmed
Technology
Power Finance Corporation Ltd           LT borrowing          ICRA AAA     430000^ Assigned /
                                        programme FY2019                           Outstanding
^Short-term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2019 not exceeding Rs. 57,000 crore
Power Finance Corporation Ltd           Rated LT ST           ICRA AAA/A1+ 570000^ Outstanding
                                        borrowings of
                                        previous FYs
^Short-term borrowings are interchangeable with long-term borrowings, subject to the total
borrowings in FY2019 not exceeding Rs. 57,000 crore
Raj Exports                             LT—FB                 ICRA BBB-    502.9   Reaffirmed
Raj Exports                             Unallocated limits    ICRA BBB-    47.1    Reaffirmed
Rajda Sales (Calcutta) Pvt. Ltd         Bk Fac                ICRA B+/A4   185     -
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Shree Shivam Cotton Industries          Fund based-CC         ICRA B       40      Withdrawn
Shree Shivam Cotton Industries          Fund based-TL         ICRA B       9.8     Withdrawn
Solizo Vitrified Pvt. Ltd.              FB –TL                ICRA B+      266.9   Assigned
Solizo Vitrified Pvt. Ltd.              FB –CC                ICRA B+      102.3   Assigned
Talwalkars Better Value                 NCD Programme         ICRA AA-     800     -
Fitness Ltd
(Revised to Negative from Stable)
Talwalkars Better Value                 Long-TL               ICRA AA-     850.9   -
Fitness Ltd
(Revised to Negative from Stable)
Talwalkars Better Value                 Proposed NCDProgramme ICRA AA-     250     -
Fitness Ltd
(Revised to Negative from Stable)
Tata Power Delhi Distribution           Fund based -TL        ICRA AA-     35050   Reaffirmed
Ltd
Tata Power Delhi Distribution           Fund based -Working   ICRA AA-     5950    Reaffirmed
Ltd                                     Capital Fac
Tessitura Monti India Pvt Ltd           TL                    ICRA BBB-    270     Downgraded
                                                                                   from ICRA BBB
Tessitura Monti India Pvt Ltd           Unallocated limits    ICRA BBB-/A3 40      Downgraded
                                                                                   from ICRA
                                                                                   BBB/A3+
Uttara Foods And Feeds Pvt Ltd          CC (Fund Based (SO))  ICRA BBB+    300     Reassigned
                                                                                   from ICRA D
(Removed from issuer not-cooperating category)
Uttara Foods And Feeds Pvt Ltd          TL (SO)               ICRA BBB+    -       Reassigned
                                                                                   from ICRA D
(Removed from issuer not-cooperating category)
Uttara Foods And Feeds Pvt Ltd          ST Fund Based (SO)**  ICRA BBB+    -       Reassigned
                                                                                   from ICRA D
(Removed from issuer not-cooperating category)/ **short term rating amount is NIL
Venkateshwara Hatcheries Pvt            TL                    ICRA BBB+    3093.8  Upgraded
Ltd                                                                                from ICRA BBB
Venkateshwara Hatcheries Pvt            CC                    ICRA BBB+    2335    Upgraded
Ltd                                                                                from ICRA BBB
Venky’S (India) Ltd                     TL                    ICRA A-      1141.5  Upgraded
                                                                                   from ICRA
                                                                                   BBB+
Venky’S (India) Ltd                     CC                    ICRA A-      3500    Upgraded
                                                                                   from ICRA
                                                                                   BBB+
India Infoline Finance Ltd              NCD Programme         ICRA AA      5000    Assigned
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      1000    Outstanding
India Infoline Finance Ltd              LT Bk Lines           ICRA AA      5775    Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      2510    Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      2000    Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      500     Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  500     Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  100     Outstanding
                                        protected market      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLD ICRA  400     Outstanding
                                        protected market      AA
                                        linked debenture programme
Industrial Solvents &Chemicals          TL                    ICRA A+      8       Reaffirmed
Pvt Ltd
Industrial Solvents &Chemicals          FBL                   ICRA A+/A1+  70      -
Pvt Ltd
(Long-term rating reaffirmed and short-term rating upgraded from ICRA A1)
Uttara Impex Pvt Ltd                    CC (Fund Based (SO))  ICRA BBB+    17      Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Uttara Impex Pvt Ltd                    Non-Fund Based (SO)*  ICRA BBB+    -       Upgraded
                                                                                   from ICRA
                                                                                   BBB-
**: short term amount rated is NIL
 
--------------------------------------------------------------------------------------------
$: 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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