October 10, 2017 / 11:59 AM / 10 days ago

RPT-ICRA ratings for Indian debt instruments-Oct 10

 (Repeating to add additional 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, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adani Transmission Ltd                  CP Programme          ICRA A1+     1000    Assigned
Azim Premji Trust                       CP Programme          ICRA A1+     2000    Assigned
Bapuji Education Association            Non-fund based – LOC  ICRA A1+     15      Reaffirmed
Bapuji Education Association            Non-fund based – BG   ICRA A1+     25      Reaffirmed
Equipment Fabricators                   ST FB                 ICRA A4      3.5     Assigned
Equipment Fabricators                   ST non-fund based     ICRA A4      15.6    Assigned
Gonglu Agro Pvt Ltd                     ST - non-fund based   ICRA A2+     5       Upgraded
                                                                                   from ICRA A3+
Hcg Eko Oncology Llp                    Non-FB Fac            ICRA A2+     6       Assigned
Ifmr Capital Finance Pvt Ltd            CP                    ICRA A1+     500     Reaffirmed
Kotak Mahindra Prime Ltd                CP Programme          ICRA A1+     9000    Assigned
Kotak Mahindra Prime Ltd                CP Programme (IPO     ICRA A1+     2000    Assigned
                                        financing)
Neelson Ceramic Llp                     ST Non-FBL            ICRA A4      1.8     Assigned
Sac Engine Components Pvt Ltd           ST: Unallocated Fac   ICRA A2      11.92   Upgraded
                                                                                   from ICRA A3+
Shriram City Union Finance Ltd          CP programme #        ICRA A1+     2025    Assigned /
#enhanced from Rs. 25.00 crore                                                      Outstanding
Standard Chartered Investments          CP                    ICRA A1+     2000    Assigned
And Loans (India) Ltd
Tarish Investment And Trading           CP Programme          ICRA A1+     500     Assigned
Company Pvt Ltd
Alivira Animal Health Ltd               ST – non FB Fac       ICRA A2+     520     Assigned
Dalmia Bharat Sugar &                   Non-FBL               ICRA A1+     2000    Reaffirmed
Industries Ltd
Dalmia Bharat Sugar &                   CP                    ICRA A1+     7000    Reaffirmed
Industries Ltd
Hcg Manavata Oncology Llp               Non-FB Fac            ICRA A2+     80      Assigned
Kalyan Jewellers India Ltd              ST: Fund based / Non  ICRA A2+     -       Reaffirmed
                                        fund based (sub
                                        limits)
Kapiraj Creation Pvt Ltd                BG                    ICRA A4      3.5     -
ISSUER NOT COOPERATING
Muthoot Finance Ltd                     ST fund based Bk      ICRA A1+     125630^ Reaffirmed
                                        limits ##
^Long-term and short-term fund based bank limits include an interchangeable limit of Rs.
8,985.00 crore. The total rated bank facilities stand at Rs. 13,515.00 crore. 
##enhanced from Rs. 10,818.00 crore
Muthoot Finance Ltd                     CP programme###       ICRA A1+     40000   Reaffirmed
###enhanced from Rs. 200.00 crore
Piramal Enterprises Ltd                 CP /ST Debt           ICRA A1+     90000   Reaffirmed
Piramal Enterprises Ltd                 ST Non-Fund Based     ICRA A1+     2000    Reaffirmed
Piramal Enterprises Ltd                 ST Fund based         ICRA A1+     18624   Reaffirmed
Tvs Credit Services Ltd                 CP                    ICRA A1+     10000   Assigned
Vardhman Roller Flour Mills             ST Non-FB Fac – BG    ICRA A4      4       -
Pvt Ltd
ISSUER NOT COOPERATING
    
    
MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          Fixed deposit         MAA+         -       Outstanding
                                        programme
Kalyan Jewellers India Ltd              Medium term – Fixed   MA-          4000    Reaffirmed
                                        deposit

    
    
LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA A+      250     Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+      150     Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+      600     Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+      300     Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+      250     Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+      250     Outstanding
Ltd
Aasan Corporate Solutions Pvt           TL – Lease Rental     ICRA BBB     400     Assigned
Ltd                                     Discounting (LRD)
Aasan Corporate Solutions Pvt           TL – Loan Against     ICRA BBB     100     Assigned
Ltd                                     Property (LAP)
Aha Holdings Pvt Ltd                    NCD programme         ICRA BB-     25      Withdrawn
Banashankari Agro Farms Llp             LT – FB Fac           ICRA B       5.25    Reaffirmed
Banashankari Agro Farms Llp             LT – TL               ICRA B       0.45    Reaffirmed
Banashankari Agro Farms Llp             LT – Unallocated      ICRA B       3.61    Reaffirmed
                                        limits
Banashankari Poultry Farms Pvt          LT – FB Fac           ICRA B       3.5     Reaffirmed
Ltd
Banashankari Poultry Farms Pvt          LT – TL               ICRA B       2.2     Reaffirmed
Ltd
Banashankari Poultry Farms Pvt          LT – Unallocated      ICRA B       0.5     Reaffirmed
Ltd                                     limits
Bangalore Metallurgicals Pvt            LT - Fund BasedCC     ICRA BB-     6       -
Ltd
ISSUER NOT COOPERATING
Bangalore Metallurgicals Pvt            LT - Fund BasedTL     ICRA BB-     1.5     -
Ltd
ISSUER NOT COOPERATING
Bapuji Education Association            FB – CC               ICRA A+      20      Reaffirmed
Bapuji Education Association            FB – TL               ICRA A+      40      Reaffirmed
Bapuji Education Association            Unallocated           ICRA A+ /    10      Reaffirmed
                                                              A1+
Equipment Fabricators                   LT FB                 ICRA B+      5.9     Assigned
Gmr Aerospace Engineering Ltd           TL                    ICRA AA      281.6   Reaffirmed
Gmr Aerospace Engineering Ltd           Unallocated           ICRA AA      2.9     Reaffirmed
Gmr Aerospace Engineering Ltd           NCDs (NCD)            Provisional  100     Assigned
                                                              ICRA AA
Gmr Aerotechnic Ltd                     CC                    ICRA B+      27.5    Reaffirmed
Gmr Aerotechnic Ltd                     NCDs (NCD)            Provisional  175     Assigned
                                                              ICRA AA
Gonglu Agro Pvt Ltd                     TL Fac                ICRA BBB+    15.02   Upgraded
                                                                                   from ICRA BBB
Gonglu Agro Pvt Ltd                     LT - FB               ICRA BBB+    45      Upgraded
                                                                                   from ICRA BBB
Gonglu Agro Pvt Ltd                     LT/ST unallocated     ICRA BBB+ /  1       Upgraded
                                                              A2                   from ICRA
                                                                                   BBB / A3+
Grc Infra Pvt Ltd                       LT – FB – TL          ICRA D       46      Withdrawn
Hcg Eko Oncology Llp                    FB Fac                ICRA A-      1       Assigned
Hcg Eko Oncology Llp                    TL                    ICRA A-      33      Assigned
Hindustan Organic Chemicals             NCD                   ICRA AAA     150     Withdrawn
Ltd
Hira Cotton Fibers                      LT – CC               ICRA B+      7       -
ISSUER NOT COOPERATING
Hira Cotton Fibers                      LT – TL               ICRA B+      2       -
ISSUER NOT COOPERATING
Ifmr Capital Finance Pvt Ltd            NCDs                  ICRA A+      253.5   Withdrawn
Ifmr Capital Finance Pvt Ltd            LT FBL                ICRA A+      2000    Reaffirmed
Ifmr Capital Finance Pvt Ltd            NCDs                  ICRA A+      575     Reaffirmed
Ifmr Capital Finance Pvt Ltd            Subordinated Debt     ICRA A+      7.5     Reaffirmed
Khandke Wind Energy Pvt Ltd             TL                    ICRA A       591     Upgraded
                                                                                   from ICRA A-
Kotak Mahindra Prime Ltd                NCDs                  ICRA AAA     251.9   Reaffirmed
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA AAA     654.1   Reaffirmed
                                        Programme
Kotak Mahindra Prime Ltd                CC and TL             ICRA AAA     6391    Reaffirmed
Kotak Mahindra Prime Ltd                NCDs                  ICRA AAA     1248.1  Withdrawn
Kotak Mahindra Prime Ltd                Subordinated Debt     ICRA AAA     70.9    Withdrawn
                                        Programme
Kotak Mahindra Prime Ltd                Nifty Linked          PP-MLDICRA   41.25   Reaffirmed
                                        Debentures            AAA
Kotak Mahindra Prime Ltd                Nifty Linked          PP-MLDICRA   108.75  Withdrawn
                                        Debentures            AAA
Lendingkart Finance Ltd                 Bk Lines              ICRA BBB- /  300     Reaffirmed
                                                              ICRA A3
N.B. Cotex Pvt Ltd                      CC                    ICRA B       5.5     -
ISSUER NOT COOPERATING
N.B. Cotex Pvt Ltd                      TL                    ICRA B       1.49    -
ISSUER NOT COOPERATING
N.B. Cotex Pvt Ltd                      Unallocated limits    ICRA B       1.01    -
ISSUER NOT COOPERATING
Neelson Ceramic Llp                     LT FB Limits          ICRA B+      19.35   Assigned/
                                                                                   Upgraded
                                                                                   from ICRA B
Pannageshwar Sugar Mills Ltd            FB – TL               ICRA D       25.14   -
ISSUER NOT COOPERATING
Pannageshwar Sugar Mills Ltd            FBL – CC              ICRA D       18      -
ISSUER NOT COOPERATING
Sac Engine Components Pvt Ltd           LT: TL                ICRA BBB+    50      Upgraded
                                                                                   from ICRA BBB
Sac Engine Components Pvt Ltd           LT: FB Fac            ICRA BBB+    37.5    Upgraded
                                                                                   from ICRA BBB
Shriram City Union Finance Ltd          NCDs                  ICRA AA      25      Outstanding
Team Engineers Advance                  Fund Based            ICRA B-      6.25    -
Technologies India Pvt Ltd
Issuer did not co-operate; Based on best available information
Team Engineers Advance                  Unallocated           ICRA B-      1.25    -
Technologies India Pvt Ltd
Issuer did not co-operate; Based on best available information
Vins Bioproducts Ltd                    FB                    ICRA BBB+    15      Reaffirmed
Vins Bioproducts Ltd                    Unallocated           ICRA BBB+    2.5     Reaffirmed
Alivira Animal Health Ltd               LT – FBL              ICRA BBB+    450     Assigned
Alivira Animal Health Ltd               LT – TL               Provisional  1250    Assigned
                                                              ICRA BBB+
Dalmia Bharat Sugar &                   FB Limits             ICRA AA-     6000    Upgraded
Industries Ltd                                                                     from ICRA A+
Dalmia Bharat Sugar &                   TL                    ICRA AA-     4064.9  Upgraded
Industries Ltd                                                                     from ICRA A+
Dalmia Bharat Sugar &                   Unallocated Limits    ICRA AA-     1000    Upgraded
Industries Ltd                                                                     from ICRA A+
Ds Spiceco Pvt Ltd                      FB Bk Fac             ICRA A+      500     Outstanding
Ds Spiceco Pvt Ltd                      FB Bk Fac             ICRA A+      400     Reassigned
Hcg Manavata Oncology Llp               FB Fac                ICRA A-      10      Assigned
Hcg Manavata Oncology Llp               TL                    ICRA A-      250     Assigned
Kalyan Jewellers India Ltd              LT: TL                ICRA A-      3500    Reaffirmed
Kalyan Jewellers India Ltd              Long/ST – Fund based  ICRA A- /    27720   Reaffirmed
                                                              A2+
Kapiraj Creation Pvt Ltd                TL                    ICRA BB-     86.6    -
ISSUER NOT COOPERATING
Kapiraj Creation Pvt Ltd                CC                    ICRA BB-     42.5    -
ISSUER NOT COOPERATING
Muthoot Finance Ltd                     TL                    ICRA AA      2000    Reaffirmed
Muthoot Finance Ltd                     LT fund based Bk      ICRA AA      97370^  Reaffirmed
                                        limits#
^Long-term and short-term fund based bank limits include an interchangeable limit of Rs.
8,985.00 crore. The total rated bank facilities stand at Rs. 13,515.00 crore.
# enhanced from Rs. 9,137.00 crore
Muthoot Finance Ltd                     NCD programme         ICRA AA      58764.4 Reaffirmed
Muthoot Finance Ltd                     NCD programme         ICRA AA      7550    Reaffirmed
Muthoot Finance Ltd                     Subordinated debt     ICRA AA      5513.6  Reaffirmed
                                        programme
Nagpur Cancer Hospitals And             TL                    ICRA A-      470     Assigned /
Research Institute Pvt Ltd                                                         Outstanding
Piramal Enterprises Ltd                 NCDs (NCD)            ICRA AA      81000   Reaffirmed
Piramal Enterprises Ltd                 Fresh NCD             ICRA AA      20000   Assigned
Piramal Enterprises Ltd                 TL/Corporate Loan     ICRA AA      22000   Reaffirmed
Piramal Enterprises Ltd                 TL/Corporate Loan     ICRA AA      37000   Withdrawn
Piramal Enterprises Ltd                 LT/ST Fund Based      ICRA AA/ A1+ 3000    Reaffirmed
Sodhi Brothers Hydro Power Pvt          TL                    ICRA B       226     Withdrawn
Ltd
Tvs Credit Services Ltd                 LT Bk Limits          ICRA A+      21460   Outstanding
Vardhman Roller Flour Mills             LT FB Fac – CC        ICRA B+      280     -
Pvt Ltd
ISSUER NOT COOPERATING
Vardhman Roller Flour Mills             LT FB Fac – TL        ICRA B+      1.5     -
Pvt Ltd
ISSUER NOT COOPERATING
Vardhman Roller Flour Mills             Unallocated Limits    ICRA B+      6       -
Pvt Ltd
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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