October 14, 2019 / 11:28 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Oct 14

 (Repeating to add more ratings)
    Oct 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 11, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Indiabulls Housing Finance Ltd          CP (CP) Programme     ICRA A1+     250000  Reaffirmed
Reaffirmed
Tata Power Delhi Distribution           Non-fund Based        ICRA A1+     7700    Reaffirmed
Ltd                                     Working Capital Limits
Tata Power Delhi Distribution           CP                    ICRA A1+     5000    Reaffirmed
Ltd
Tata Power Delhi Distribution           ST Debt               ICRA A1+     2000    Reaffirmed
Ltd
Tulip Granites Pvt. Ltd.                ST FBL                ICRA A4      180     Downgraded
                                                                                   from ICRA
                                                                                   A4+
Tulip Granites Pvt. Ltd.                ST NFBL               ICRA A4      30      Downgraded
                                                                                   from ICRA
                                                                                   A4+
Sumeru Microwave                        FB Bill Discounting   ICRA A4      25      Assigned
Communications Pvt Ltd
Sumeru Microwave                        Non-fund Based LOC    ICRA A4      43.5    Assigned
Communications Pvt Ltd

LONG TERM RATINGS:
-------------------
Indiabulls Housing Finance Ltd          NCD (NCD) Programme   ICRA AA+     452000  Assigned
removed from Watch with Developing Implications and Negative
Indiabulls Housing Finance Ltd          Subordinated Debt     ICRA AA+     50000   Assigned
                                        Programme
removed from Watch with Developing Implications and Negative
Indiabulls Housing Finance Ltd          Retail Bond Programme1ICRA AA+     150000  Assigned
removed from Watch with Developing Implications and Negative
Indiabulls Housing Finance Ltd          LT Bk Fac             ICRA AA+     470000  Assigned
removed from Watch with Developing Implications and Negative
Jainalco Industries Pvt Ltd             LT Fund 7 Based – CC  ICRA         70      Revised from
                                                              BB-(Stable)          ICRA
                                                                                   BB(Stable)
Removed from ‘ISSUER NOT COOPERATING’ category
Jainalco Industries Pvt Ltd             LT Fund 8 Based – TL  ICRA         80      Revised from
                                                              BB-(Stable)          ICRA
                                                                                   BB(Stable)
Removed from ‘ISSUER NOT COOPERATING’ category
Microcare Computers Pvt. Ltd            LT - Fund Based/CC    ICRA BBB-    20      Reaffirmed
                                                              (Stable)
Microcare Computers Pvt. Ltd            LT - Unallocated      ICRA BBB-    20      Reaffirmed
                                                              (Stable)
Microcare Computers Pvt. Ltd            LT / ST – Non fund    ICRA BBB-    210     Reaffirmed
                                        based                 (Stable) /
                                                              ICRA A3
Microcare Computers Pvt. Ltd            LT / ST – Unallocated ICRA BBB-    500     Reaffirmed
                                                              (Stable) /
                                                              ICRA A3
Northern Arc Capital Ltd                Blue Jay Finlease     Provisional  100     confirmed as
                                        Limited (Zip Loan)    ICRA A-(CE)          final
Northern Arc Capital Ltd                Oxyzo Financial       Provisional  200     confirmed as
                                        Services Private      ICRA A-(CE)          final
                                        Limited (Ofbusiness)
Northern Arc Capital Ltd                Riviera Investors     Provisional  100     confirmed as
                                        Private Limited       ICRA A-(CE)          final
                                        (Indifi)
Northern Arc Capital Ltd                Livfin India Private  Provisional  50      confirmed as
                                        Limited (LivFin)      ICRA A-(CE)          final
Northern Arc Capital Ltd                Origo Finance Private Provisional  80      confirmed as
                                        Limited (Origo)       ICRA A-(CE)          final
Northern Arc Capital Ltd                Centrum Micro Credit  Provisional  150     confirmed as
                                        Limited (Centrum)     ICRA A-(CE)          final
Northern Arc Capital Ltd                Magalir Micro Capital Provisional  50      confirmed as
                                        Private Limited       ICRA A-(CE)          final
                                        (Magalir)
Northern Arc Capital Ltd                Orange Retail Finance Provisional  100     confirmed as
                                        India Private Limited ICRA A-(CE)          final
                                        (Orange)
Northern Arc Capital Ltd                Saija Finance Private Provisional  120     confirmed as
                                        Limited (Saija)       ICRA A-(CE)          final
Northern Arc Capital Ltd                CapFloat Financial    Provisional  200     confirmed as
                                        Services Private      ICRA A-(CE)          final
                                        Limited (Capital Float)
Northern Arc Capital Ltd                MPower Microfinance   Provisional  50      confirmed as
                                        Private Limited       ICRA A-(CE)          final
                                        (MPower) TOTAL
Premier Alloys & Chemicals Pvt          Fund based- CC        ICRA BBB+    220     -
Ltd
revised to Stable from Positive
Premier Alloys & Chemicals Pvt          Unallocated           ICRA BBB+    120     -
Ltd
revised to Stable from Positive
Sumeru Microwave                        FB CC                 ICRA         48      Assigned
Communications Pvt Ltd                                        B+(Stable)
Sumeru Microwave                        FB TL                 ICRA         12.4    Assigned
Communications Pvt Ltd                                        B+(Stable)
Sonata Finance Pvt Ltd                  Northern Arc 2019 MFI Provisional  672.2   Assigned
                                        Corleone PTC Series A1ICRA A-(SO)
Sonata Finance Pvt Ltd                  Northern Arc 2019 MFI Provisional  31.3    Assigned
                                        Corleone PTC Series A2ICRA BBB(SO)
Sudha Somany Ceramics Pvt. Ltd.         LT - Fund Based TL    ICRA BBB&    785     -
placed on watch with developing implications
Sudha Somany Ceramics Pvt. Ltd.         LT - Fund Based/ CC   ICRA BBB&    130     -
placed on watch with developing implications
Sudha Somany Ceramics Pvt. Ltd.         LT / ST - Non Fund    ICRA         50      -
                                        Based                 BBB&/ICRA
                                                              A3+&
placed on watch with developing implications
Tata Power Delhi Distribution           TL                    ICRA AA-     35050   Reaffirmed
Ltd
outlook changed from Positive to Stable
Tata Power Delhi Distribution           FB Working Capital    ICRA AA-     5950    Reaffirmed
Ltd                                     Limits
outlook changed from Positive to Stable
Trpl Roadways Pvt Ltd                   NCD (NCD)             ICRA A+(CE)  1300    Reaffirmed
                                                              (Stable)
Tulip Granites Pvt. Ltd.                LT FBL                ICRA BB      45      Downgraded
                                                                                   from ICRA BB+
Outlook revised to Negative from Stable
Tulip Granites Pvt. Ltd.                LT Unallocated Limits ICRA BB      5       Downgraded
                                                                                   from ICRA BB+
Outlook revised to Negative from Stable
--------------------------------------------------------------------------------------------
$: 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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