October 10, 2019 / 11:00 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Oct 10

 (Repeating to add more ratings)
   Oct 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 9, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Acute Ceramic Pvt. Ltd.                 Non-fund Based BG     ICRA A4      13      Reaffirmed
Ashley Alteams India Ltd                ST FB Fac             ICRA A3 /    350     Downgraded
                                                                                   from ICRA A3+
Ashley Alteams India Ltd                ST sublimit Fac       ICRA A3 /    -       Downgraded
                                                                                   from ICRA A3+
Ashley Alteams India Ltd                ST unallocated limits ICRA A3 /    50      Downgraded
                                                                                   from ICRA A3+
AKR Impex Pvt Ltd                       LOC (sub limit)       ICRA A4      -       -
(Rating moved to the ‘Issuer Not Cooperating’ category)
AKR Impex Pvt Ltd                       Packing Credit (sub   ICRA A4      -       -
                                        limit)
(Rating moved to the ‘Issuer Not Cooperating’ category)
AKR Impex Pvt Ltd                       Bill discounting (sub ICRA A4      -       -
                                        limit) Issue Name
(Rating moved to the ‘Issuer Not Cooperating’ category) Rating Action
Gemini Exports                          ST Non-Fund Based -   ICRA A4      -       Withdrawn
                                        LOC^
^Sublimit under fund-based facilities 
Gemini Exports                          ST Non-Fund Based -   ICRA A4      -5      Withdrawn
                                        BG^
^Sublimit under fund-based facilities 
Gita & Company                          ST - LOC              ICRA A4      65      Reaffirmed
Healthcaps India Ltd                    Non-fund Based        ICRA A2      75      Reaffirmed
Hindustan Pressings Pvt Ltd             Non- FB – LOC         ICRA A4      -       Reaffirmed
                                        Unallocated facility
(removed from Issuer Not Cooperating category) -
Interglobe Aviation Ltd                 ST FBL                ICRA A1+     1070    Reaffirmed
Interglobe Aviation Ltd                 ST Non-FBL            ICRA A1+     5892.5  Reaffirmed
Interglobe Aviation Ltd                 ST Interchangeable    ICRA A1+     -       Reaffirmed
M. Pallonji & Company Pvt Ltd           Non-FBL               ICRA A1+     250     Reaffirmed
Orinda Granito Llp                      Non-fund Based BG     ICRA A4      25      Reaffirmed
Shah Precicast Pvt Ltd                  ST – Non Fund Based   ICRA A4      15      Reaffirmed
Sharekhan Bnp Paribas                   CP Programme (IPO     ICRA A1+     -       Assigned
Financial Services Ltd                  Financing)
Somany Ceramics Ltd                     CP Amount             ICRA A1+&    1500    Reaffirmed
                                                                                   and placed
                                                                                   under
                                                                                   watch with
                                                                                   developing
                                                                                   implications
Stumpp Schuele & Somappa                Non-FB limit (LC/BG)  ICRA A3      465     Downgraded
Springs Pvt Ltd:                                                                   from ICRA A2
Stumpp Schuele And Somappa              ST - Non-Fund Based   ICRA A3      10      Downgraded
Auto Suspension Systems Pvt Ltd                                                    from ICRA A2
(outlook revised to ‘Negative’ from ‘Stable’)
Stumpp Schuele And Somappa              ST - Interchangeable  ICRA A3      -       Downgraded
Auto Suspension Systems Pvt Ltd                                                    from ICRA A2
(outlook revised to ‘Negative’ from ‘Stable’)
The Icfai University Himachal           ST FB                 ICRA A1+     120     Assigned
Pradesh
Venus Petrochemicals (Bombay)           Non-FBL               ICRA A3      500     Downgraded
Pvt Ltd                                                                            from ICRA A3+
Carat Lane Trading Pvt Ltd              CP                    ICRA A1+     1000    Assigned
K V Aromatics Pvt Ltd                   Non-Fund based ST     ICRA D       110     Downgraded
                                                                                   from ICRA A3+
K V Aromatics Pvt Ltd                   Unallocated-ST        ICRA D       160     Downgraded
                                                                                   from ICRA A3+
K V Aromatics Pvt Ltd                   Fund based ST         ICRA D       1940    Downgraded
                                                                                   from ICRA A3+
Ramdev Food Products Pvt Ltd            Non FB BG             ICRA A2      15.2    Reaffirmed
The Icfai University Jharkhand          ST FB                 ICRA A1+     115     Reaffirmed /
                                                                                   Assigned
The Icfai University Meghalaya          ST FB                 ICRA A1+     120     Reaffirmed /
                                                                                   Assigned
The Icfai University Mizoram            ST FB                 ICRA A1+     110     Reaffirmed /
                                                                                   Assigned
The Icfai University Nagaland           ST FB                 ICRA A1+     120     Reaffirmed /
                                                                                   Assigned
The Icfai University Raipur             ST FB                 ICRA A1+     120     Reaffirmed /
                                                                                   Assigned
 


LONG TERM RATINGS:
-------------------
Acute Ceramic Pvt. Ltd.                 FB TL                 ICRA BB-     39.6    Reaffirmed
Acute Ceramic Pvt. Ltd.                 FB CC                 ICRA BB-     20      Reaffirmed
Acute Ceramic Pvt. Ltd.                 Unallocated Limits    ICRA BB-/A4  32.8    Reaffirmed
Akr Impex Pvt Ltd                       CC                    ICRA B       54.5    -
(Rating moved to the ‘Issuer Not Cooperating’ category)
Anjali Infracrete Pvt Ltd               Unallocated Limits    ICRA B       44.5    Upgraded
                                                                                   from ICRA C-
                                                                                   and removed
                                                                                   from ‘Issuer
                                                                                   Not
                                                                                   Cooperating’
                                                                                   category
Ashley Alteams India Ltd                LT TL                 ICRA BBB-    425     Downgraded
                                                                                   from ICRA
                                                                                   BBB (stable)
Ashley Alteams India Ltd                LT FB Fac             ICRA BBB-    250     Downgraded
                                                                                   from ICRA
                                                                                   BBB (stable)
Ashley Alteams India Ltd                LT sublimit Fac       ICRA BBB-    -       Downgraded
                                                                                   from ICRA
                                                                                   BBB (stable)
Ashley Alteams India Ltd                LT unallocated limits ICRA BBB-    175     Downgraded
                                                                                   from ICRA
                                                                                   BBB (stable)
Gemini Exports                          LT FB - Packing       ICRA BB-     90      Withdrawn
                                        Credit (PC)/Post
                                        Shipment Credit (PSC)/Foreign Bill Purchase (FBP)
Gemini Exports                          LT - Unallocated      ICRA BB-     10      Withdrawn
Gita & Company                          LT - CC Non-fund BasedICRA BB      85      Reaffirmed
Gokula Education Foundation             LT- Fund Based        ICRA         500     Reaffirmed
(Medical)                                                     A+(Stable);
Gokula Education Foundation             LT- Non-fund Based    ICRA         -       Reaffirmed
(Medical)                               (Sub-limit of Fund    A+(Stable);
                                        Based)
Healthcaps India Ltd                    FB- CC                ICRA BBB+    230     Reaffirmed
Healthcaps India Ltd                    FB- TL                ICRA BBB+    300.5   Reaffirmed
Hindustan Pressings Pvt Ltd             FB – TL               ICRA BB-     155.4   Reaffirmed
(removed from Issuer Not Cooperating category)
Hindustan Pressings Pvt Ltd             FB – CC               ICRA BB-     60      Reaffirmed
(removed from Issuer Not Cooperating category)
Icfai Foundation For Higher             TL                    ICRA A+      336.5   Reaffirmed
Education
Icfai Foundation For Higher             Unallocated Limits    ICRA A+      123.8   Reaffirmed
Education
Interglobe Aviation Ltd                 LT Non-FBL            ICRA         7000.2  Reaffirmed
                                                              A+(Negative)
Interglobe Aviation Ltd                 LT/ST Non-FBL –       ICRA         50859.1 Reaffirmed
                                        Standby LOC           A+(Negative)
Interglobe Aviation Ltd                 LT interchangeable    ICRA         -       Reaffirmed
                                                              A+(Negative)
Interglobe Aviation Ltd                 LT- Unallocated       ICRA         15178.2 Reaffirmed
                                                              A+(Negative)
Interglobe Aviation Ltd                 Issuer Rating         ICRA         -       Reaffirmed
                                                              A+(Negative)
L S Automotive India Pvt Ltd            Issuer Rating         ICRA BB-     -       Assigned
M. Pallonji & Company Pvt Ltd           FBL                   ICRA A+      170     Reaffirmed
M. Pallonji Logistics                   TL                    ICRA A(CE)   -       Downgraded
Singapore Pte. Ltd                                                                 from ICRA
                                                                                   A+(SO)
                                                                                   (Stable)
Ms Ramaiah University Of                LT- Fund Based        ICRA A+      320     Reaffirmed
Applied Sciences                                              (Stable)
Ms Ramaiah University Of                LT TL                 ICRA         180     Reaffirmed
Applied Sciences                                              A+(Stable)
Ms Ramaiah University Of                Unallocated           ICRA         -       Reaffirmed
Applied Sciences                                              A+(Stable)
Orinda Granito Llp                      FB TL                 ICRA BB-     165     Upgraded
                                                                                   from ICRA B+
Orinda Granito Llp                      FB Working Capital FacICRA BB-     80      Upgraded
                                                                                   from ICRA B+
Shah Precicast Pvt Ltd                  LT – Fund Based / CC  ICRA B+      155     Reaffirmed
Shah Precicast Pvt Ltd                  LT – Unallocated FB – ICRA B+      30      Reaffirmed
                                        CC FB – TL
Stumpp Schuele & Somappa                Fund Based – Term     ICRA BBB-    550     Downgraded
Springs Pvt Ltd:                        Loan                                       from ICRA BBB
outlook revised to ‘Negative’ from ‘Stable’
Stumpp Schuele & Somappa                Fund Based – Cash     ICRA BBB-    695     Downgraded
Springs Pvt Ltd:                        Credit                                     from ICRA BBB
outlook revised to ‘Negative’ from ‘Stable’
Stumpp Schuele And Somappa              LT - Fund Based/ CC   ICRA BBB-    150     Downgraded
Auto Suspension Systems Pvt Ltd                                                    from ICRA BBB
outlook revised to ‘Negative’ from ‘Stable’
Stumpp Schuele And Somappa              LT – TL               ICRA BBB-    80      Downgraded
Auto Suspension Systems Pvt Ltd                                                    from ICRA BBB
outlook revised to ‘Negative’ from ‘Stable’
The Icfai University Himachal           LT FB                 ICRA A+      30      Assigned
Pradesh
The Icfai University Tripura            TL                    ICRA A+      325     Assigned
The Icfai University Tripura            LT FB                 ICRA A+      50      Assigned
Venus Petrochemicals (Bombay)           FBL                   ICRA BBB-    15      Downgraded
Pvt Ltd                                                                            from ICRA BBB
Vivriti Capital Pvt Ltd                 PTC Series A1         Provisional  838.4   Assigned
-Vivriti Cabsec 003 2019                                      ICRA A-(SO)
Vivriti Capital Pvt Ltd                 PTC Series A2         Provisional  47.1    Assigned
-Vivriti Cabsec 003 2019                                      ICRA
                                                              BBB-(SO)
Indiabulls Housing Finance Ltd          Assignee Payouts      Provisional  4500    Assigned
- Ibhfl Pcg Sep-19                                            ICRA AA(SO)
K V Aromatics Pvt Ltd                   Fund based LT         ICRA D       80      Downgraded
                                                                                   from ICRA
                                                                                  
BBB-(Negative)
K V Aromatics Pvt Ltd                   TL-LT                 ICRA D       3.8     Downgraded
                                                                                   from ICRA
                                                                                  
BBB-(Negative)
K V Aromatics Pvt Ltd                   Fund based ST         ICRA D       1940    Downgraded
                                                                                   from ICRA
                                                                                  
BBB-(Negative)
Msrdc Sea Link Ltd                      Fund Based – TL       Provisional  16500   Assigned
                                                              ICRA A+(CE)
                                                              (Stable)
Ramdev Food Products Pvt Ltd            FB CC                 ICRA BBB+    706.6   Reaffirmed
                                                              (Stable)
Ramdev Food Products Pvt Ltd            FB TL                 ICRA BBB+    334.7   Reaffirmed
                                                              (Stable)
Ramdev Food Products Pvt Ltd            Fund/Non FB limits-   ICRA BBB+    -       Reaffirmed
                                        sublimit to CC        (Stable) /
                                                              A2
Ramdev Food Products Pvt Ltd            Unallocated Limits    ICRA BBB+    256.8   Reaffirmed
                                                              (Stable) /
                                                              A2
Samhrutha Habitat                       LT- TL                ICRA BB-     130     Assigned
Infrastructure Pvt. Ltd.                                      (Stable)
Samhrutha Habitat                       LT- Unallocated       ICRA BB-     70      Assigned
Infrastructure Pvt. Ltd.                                      (Stable)
Suncity Synthetics Ltd                  LT FB – CC            ICRA D       83.5    Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
Suncity Synthetics Ltd                  LT FB – TL            ICRA D       17.4    Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
Suncity Synthetics Ltd                  LT Non-FBL- BG        ICRA D       8.5     Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
Suncity Synthetics Ltd                  LT- Unallocated LimitsICRA D       40.6    Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
The Icfai University Jharkhand          LT FB                 ICRA A+      35      Reaffirmed /
                                                              (Stable)             Assigned
The Icfai University Meghalaya          LT FB                 ICRA A+      30      Reaffirmed /
                                                              (Stable)             Assigned
The Icfai University Mizoram            LT FB                 ICRA A+      40      Reaffirmed /
                                                              (Stable)             Assigned
The Icfai University Nagaland           LT FB                 ICRA A+      30      Reaffirmed /
                                                              (Stable)             Assigned
The Icfai University Raipur             LT FB                 ICRA A+      30      Reaffirmed /
                                                              (Stable)             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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