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RPT-ICRA ratings for Indian debt instruments-Oct 13
October 13, 2017 / 10:49 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Oct 13

 (Repeating to add additional ratings as of October 12, 2017)
    Oct 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 12, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aishwaryagiri Constructions             Non-FB Fac            ICRA A4      150     Issuer not
Pvt Ltd                                                                            cooperating
Bygging India Ltd                       ST Non-FBL            ICRA A4+     760     Withdrawn
Corporation Bank                        CDs Programme         ICRA A1+     300000  Reaffirmed
Everest Sea Foods Exports Pvt           ST – Nonfund based    ICRA A4      1.5     Issuer not
Ltd                                                                                cooperating
Everest Sea Foods Pvt Ltd               ST – Nonfund based    ICRA A4      1.5     Issuer not
                                                                                   cooperating
Hdfc Credila Financial                  CP programme          ICRA A1+     10000   Assigned
Services Pvt Ltd                                                                   /Outstanding
(enhanced from 800.00crs)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Assigned
                                        financing)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     50000   outstanding
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Assigned
                                        financing)
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Withdrawn
                                        financing)
Iifl Wealth Management Ltd              ST Debt programme     ICRA A1+     5000    outstanding
Ivalue Infosolutions Pvt Ltd            ST – Non-fund based   ICRA A3      130     Assigned
Jayalaxmi Enterprises                   ST – FB               ICRA A4      62.5    -
Kbk Chem Engineering Pvt Ltd            ST – Non fund Based   ICRA A4      173.5   Issuer not
                                                                                   cooperating
M B Patil Construction Ltd              ST – Non fund based   ICRA A3      575     Withdrawn
Nandi Irrigation Systems Ltd            Non Fund based – ST   ICRA A4      30      Reaffirmed
Nucon Aerospace Pvt Ltd                 Non-FBL               ICRA A4+     540     Upgraded
                                                                                   from ICRA A4
(revised from 50.00crs)
Patil Construction And                  ST – Non fund based   ICRA A3      1950    Withdrawn
Infrastructure Pvt Ltd
Raigarh Foods & Hotel Business          Non-FBL – BG          ICRA A4      60      Issuer not
Pvt Ltd                                                                            cooperating
Rba Ferro Industries Pvt Ltd            FB limits             ICRA A4      280     Issuer not
                                                                                   cooperating
Rba Ferro Industries Pvt Ltd            Non-FBL – BG & LOC    ICRA A4      70      Issuer not
                                                                                   cooperating
Rockwool India Pvt Ltd                  ST FB                 ICRA A4+     60      Reaffirmed
Rockwool India Pvt Ltd                  ST non-fund based     ICRA A4+     10      Reaffirmed
Royal Tyres Pvt Ltd                     FB – Packing credit   ICRA D       8       Downgraded
                                                                                   from ICRA A4
Royal Tyres Pvt Ltd                     Non-FB – BG and LOC   ICRA D       3       Downgraded
                                                                                   from ICRA A4
Shrikishan & Company                    Non-FBL – BG          ICRA A4+     230     Issuer not
                                                                                   cooperating
Shruthi Milk Products Pvt Ltd           ST – Non-fund based   ICRA A4+     0.6     Assigned
Southern Power Equipment                ST – Non Fund Based   ICRA A4      66.2    -
Company Pvt Ltd
Spunweb Nonwoven Pvt. Ltd.              Non-Fund Based – BG   ICRA A4      4.5     outstanding
Vatsal Construction Co. (Vcc)           Non FB limitsBG       ICRA A4      135     Issuer not
                                                                                   Cooperating
Nissan Syntex Pvt Ltd                   PC/PCFC               ICRA A4      40
                                        /FBP/FBD/FCBP/FCBD
Issuer not cooperating
Nissan Syntex Pvt Ltd                   BG                    ICRA A4      2.5*
* Sublimit of cash credit; Issuer not cooperating
Tata Capital Financial                  ST Loans              ICRA A1+     13250   Reaffirmed
Services Ltd
revised from 800 CR
Tata Capital Financial                  ST Debt Programme     ICRA A1+     100000  Outstanding
Services Ltd
LONG TERM RATINGS:
-------------------
Advinus Therapeutics Ltd                NCD                   ICRA         2700    Withdrawn
                                                              AA+(SO) @
@ rating watch with negative implications
Aishwaryagiri Constructions             FB Fac                ICRA B+      300     Issuer not
Pvt Ltd                                                                            cooperating
Amarprakash Developers Pvt Ltd          LT, TL                ICRA BB-     2050    Issuer not
                                                                                   cooperating
Amarprakash Developers Pvt Ltd          LT, Proposed Fac      ICRA BB-     100     Issuer not
                                                                                   cooperating
Annapurna Microfinance Pvt              PTC Series A1         ICRA A+(SO)  -       Withdrawn
Ltd- Lachesis
Ifmr Capital 2015
Annapurna Microfinance Pvt              PTC Series A2         ICRA         -       Withdrawn
Ltd- Lachesis                                                 BBB-(SO)
Ifmr Capital 2015                               
B. V. Cotspin Industries                LT FBL                ICRA D       211.5   Downgraded
                                                                                   from ICRA B+
Bygging India Ltd                       LT FBL                ICRA BB+     245     Withdrawn
Bygging India Ltd                       LT and ST -           ICRA BB+     205     Withdrawn
                                        Un-allocated limits   /ICRA A4+
Corporation Bank                        Lower Tier-II Bonds   ICRA AA-     7000    Downgraded
                                        Programme                                  from ICRA AA
Durga Construction Company              BLR                   ICRA BB+     451.8   Issuer not
                                                              /ICRA A4+            cooperating
Everest Sea Foods Exports Pvt           LT – FB               ICRA BB-     86      Issuer not
Ltd                                                                                cooperating
Everest Sea Foods Exports Pvt           LT - Unallocated      ICRA BB-     12.5    Issuer not
Ltd                                                                                cooperating
Everest Sea Foods Pvt Ltd               LT – Fundbased        ICRA BB-     98.5    Issuer not
                                                                                   cooperating
Hdfc Credila Financial                  Non-convertible       ICRA AAA     500     outstanding
Services Pvt Ltd                        subordinated
                                        debenture programme
Hdfc Credila Financial                  Perpetual debt        ICRA AAA     1500    outstanding
Services Pvt Ltd                        programme
Hdfc Ergo General Insurance             CPA                   IAAA         -       Reaffirmed
Co. Ltd
Hdfc Ergo General Insurance             NCD (Subordinated     ICRA AAA     3500    Reaffirmed
Co. Ltd                                 Debt)
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    outstanding
                                        programme
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   2000    outstanding
                                                              AA
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   25500   outstanding
                                                              AA
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    outstanding
Ivalue Infosolutions Pvt Ltd            LT – CC               ICRA BBB-    120     Assigned
Jayalaxmi Enterprises                   LT – FB (CC)          ICRA B+      12.5    -
Kbk Chem Engineering Pvt Ltd            LT Fund Based – CC    ICRA C       150     Issuer not
                                                                                   cooperating
Kogta Financial India Ltd-              PTC Series A1         Provisional  322.5   Assigned
Tern Cv Ifmr Capital                                          ICRA A-(SO)
2017                                     
Kogta Financial India Ltd-              PTC Series A3         Provisional  37.9    Assigned
Tern Cv Ifmr Capital                                          ICRA BB-(SO)   
2017                                     
Kogta Financial India Ltd-              PTC Series A2         Provisional  19      Assigned
Tern Cv Ifmr Capital                                          ICRA BBB-(SO)
2017
M B Patil Construction Ltd              LT, FB Fac – TL       ICRA BBB-    25      Withdrawn
M B Patil Construction Ltd              LT, FB Fac – CC       ICRA BBB-    400     Withdrawn
M S Ramaiah Foundation                  LT - FB               ICRA BB-     240     Assigned
M S Ramaiah Foundation                  LT - Unallocated      ICRA BB-     10      Assigned
Mahati Hydro Power Projects             TL                    ICRA BBB-    250     Reaffirmed
Pvt Ltd
Mahati Hydro Power Projects             BG                    ICRA BBB-    3       Reaffirmed
Pvt Ltd
Meera Casting                           CC                    ICRA B       40      Issuer not
                                                                                   cooperating
Meera Casting                           TL                    ICRA B       26.5    Issuer not
                                                                                   cooperating
Mil Steel And Power Ltd                 LT: FB Fac            ICRA D       41      Revised from
                                                                                   ICRA B+
Mil Steel And Power Ltd                 LT: TL                ICRA D       105.5   Revised from
                                                                                   ICRA B+
Mil Steel And Power Ltd                 ST, Non-FB Fac        ICRA D       20      Revised from
                                                                                   ICRA B+
Mil Steel And Power Ltd                 LT/ST unallocated Fac ICRA D       20.8    Revised from
                                                                                   ICRA B+/ICRA
                                                                                   A4
Nandi Irrigation Systems Ltd            Fund based – LT       ICRA B-      60      Reaffirmed
Nandi Irrigation Systems Ltd            Unallocated Limits    ICRA B-      30      Reaffirmed
                                                              /ICRA A4
Nilkanth Cotton Industries              TL                    ICRA B       20.5    Issuer not
                                                                                   cooperating
Nilkanth Cotton Industries              CC                    ICRA B       60      Issuer not
                                                                                   cooperating
Nucon Aerospace Pvt Ltd                 FB Limits-CC          ICRA BB+     260     Upgraded
                                                                                   from
                                                                                   ICRA BB
(revised from 20.00crs)
Nucon Aerospace Pvt Ltd                 FB Limits-TL          ICRA BB+     262.4   Upgraded
                                                                                   from
                                                                                   ICRA BB
(revised from 23.66crs)
Ocean Constructions (India)             LT – FB Fac           ICRA B+      120     Upgraded
Pvt Ltd                                                                            from ICRA B
(revised from 18.00crs)
Ocean Constructions (India)             LT – TL               ICRA B+      65      Upgraded
Pvt Ltd                                                                            from ICRA B
(revised from 9.75crs)
Ocean Constructions (India)             LT – Non-FB Fac       ICRA B+      165     Upgraded
Pvt Ltd                                                                            from ICRA B
(revised from 7.00crs)
Para Products Pvt Ltd                   LT FBL                ICRA B+      92      Issuer not
                                                                                   cooperating
Para Products Pvt Ltd                   LT/ST NFBL            ICRA B+/A4   100     Issuer not
                                                                                   cooperating
Patil Construction And                  LT, FB Fac – TL       ICRA BBB-    150     Withdrawn
Infrastructure Pvt Ltd
Patil Construction And                  LT, FB Fac – CC       ICRA BBB-    1000    Withdrawn
Infrastructure Pvt Ltd
Pramanik Metal Corporation              BLR                   ICRA B       100     Issuer not
                                                                                   cooperating
Raigarh Foods & Hotel Business          FB limit – CC         ICRA B+      75      Issuer not
Pvt Ltd                                                                            cooperating
Raigarh Foods & Hotel Business          Unallocated           ICRA B+      10      Issuer not
Pvt Ltd                                                                            cooperating
Rba Ferro Industries Pvt Ltd            FBL – CC              ICRA B       30      Issuer not
                                                                                   cooperating
Rockwool India Pvt Ltd                  LT FB                 ICRA BB+     70      Reaffirmed
Rockwool India Pvt Ltd                  TL                    ICRA BB+     105.4   Reaffirmed
Rockwool India Pvt Ltd                  LT/ST fundbased/      ICRA         125     Reaffirmed
                                        non-fund based        BB+/ICRA A4+
Royal Tyres Pvt Ltd                     FB – CC               ICRA D       4       Downgraded
                                                                                   from ICRA B
Royal Tyres Pvt Ltd                     FB – TL               ICRA D       62.1    Downgraded
                                                                                   from ICRA B
Royal Tyres Pvt Ltd                     LT and ST –           ICRA D       22.9    Downgraded
                                        Unallocated limits                         from ICRA B
                                                                                   and ICRA A4
Shekhada Cotgin Pvt Ltd                 CC                    ICRA B+      90      Reaffirmed
Shekhada Cotgin Pvt Ltd                 TL                    ICRA B+      1.5     Reaffirmed
Shrikishan & Company                    FB limit – CC         ICRA BB+     20      Issuer not
                                                                                   cooperating
Shruthi Milk Products Pvt Ltd           LT – Fund based       ICRA BB+     209.4   Assigned
                                                                                   /Outstanding
(enhanced from Rs. 12.00 crore)
Southern Power Equipment                LT – Fund Based       ICRA B-      33.8    -
Company Pvt Ltd
Speedon Network Ltd                     LT, FB Fac – TL       ICRA BBB-&   1750    Withdrawn
Spunweb Nonwoven Pvt. Ltd.              FB – CC               ICRA B+      65      Assigned
                                                                                   /Outstanding
(enhanced from Rs. 5.50 crore)
Spunweb Nonwoven Pvt. Ltd.              FB – TL               ICRA B+      80.4    outstanding
Spunweb Nonwoven Pvt. Ltd.              Unallocated Limit     ICRA         0.6     outstanding
                                                              B+/ICRA A4
Sri Sri Ventures Pvt Ltd                FB limit – TL         ICRA B+      60      Issuer not
                                                                                   cooperating
Swastik Traders                         LT-FB Limits          ICRA B+      30      Issuer not
                                                                                   cooperating
Swastik Traders                         LT-Non FB Limits      ICRA B+      30      Issuer not
                                                                                   cooperating
Vatsal Construction Co. (Vcc)           FB limits-CC          ICRA BB-     10      Issuer not
                                                                                   cooperating
Nissan Syntex Pvt Ltd                   CC                    ICRA B+      70
Issuer not cooperating
Nissan Syntex Pvt Ltd                   Unallocated Facility  ICRA B+ /A4  0.5
Issuer not cooperating
Tata Capital Financial                  LT FBL                ICRA AA+     1152.5  Reaffirmed
Services Ltd
revised from 12,200 CR; %includes Rs. 4,153 crore interchangeable between long term fund based
limits and long term loans
Tata Capital Financial                  LT Loans              ICRA AA+     16500   Reaffirmed
Services Ltd
revised from 1500 CR
Tata Capital Financial                  LT NFBL               ICRA AA+     5000    Reaffirmed
Services Ltd
Tata Capital Financial                  NCDs Programme        ICRA AA+     90319.3 Outstanding
Services Ltd
Tata Capital Financial                  Subordinated Debt     ICRA AA+     14054.5 Outstanding
Services Ltd                            Programme
Tata Capital Financial                  Perpetual Debt        ICRA AA+     7865.5  Outstanding
Services Ltd                            Programme
--------------------------------------------------------------------------------------------
$: 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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