(Repeating to add additonal ratings as of October 23, 2018)
Oct 24 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 23, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Chennai International ST; Non fund based ICRA A1 980 Reaffirmed
Terminals Pvt Ltd
Chennai International ST; Proposed Fac ICRA A1 1595.7 Reaffirmed
Terminals Pvt Ltd
Delhi Aviation Fuel Facility Fund based – Short-TL ICRA A1+ 400 Assigned
Pvt Ltd
G.M. Pens International Pvt Ltd ST: Non-FB ICRA A2 80 Downgraded
from ICRA A2+
G.M. Pens International Pvt Ltd ST: unallocated Fac ICRA A2 0.9 Downgraded
from ICRA A2+
Kamakhya Board Non-FBL ICRA A4 57.5 -
Reason for delay in carrying out periodic review - (Issuer Not Co-operating)
Kurlon Enterprise Ltd Non-FB Fac ICRA A1+ 150 Upgraded
from ICRA A1
National Cooperative CP Programme ICRA A1+ 15980 -
Development Corporation
Reason for delay in carrying out periodic review: Review process is underway
Pal Fashions Pvt Ltd Non-fund based – BG ICRA A2 10 -
Polyplastics Decorative Pvt. ST – Non-fund Based ICRA A2+ 80 Outstanding
Ltd. (SO) (SO)
Sharavathy Conductors Pvt Ltd ST - Non-fund based - ICRA A3 520 Reaffirmed
BG
Sharavathy Conductors Pvt Ltd ST- Non-fund based- ICRA A3 400 Reaffirmed
LOC
Smc Power Generation Ltd Non-fund ICRA A2 350 Uupgraded
Based-Working Capital from ICRA A3+
Topland Engines Pvt Ltd Non-FBL ICRA A2+ 47.5 -
Reason for delay in carrying out periodic review:- Review process in underway
Topland Exports Non Fund Based- ICRA A2 80 -
Foreign Bill Purchase
Reason for delay in carrying out periodic review:- Review process in underway
VLCC Health Care Ltd ST FB/non-FB Bk Fac ICRA A2+ 145 Downgraded
from ICRA A2+
VLCC Health Care Ltd ST FB Bk Fac ICRA A3+ - -
Bestitch Knits ST – Fund based ICRA A4 30
facility
Issuer Not Cooperating
Indag Rubber Ltd ST – NonFund Based ICRA A1+ 450
Review process is underway
Indag Rubber Ltd ST – Unallocated ICRA A1+ 20
Review process is underway
Prince Yarnn India Ltd ST – Fund based ICRA A4 30
facility
Issuer Not Cooperating
Stable Packaging Pvt Ltd ST NonFund Based ICRA A4 10
Issuer Not Cooperating
Vaighai Agro Products Ltd ST – Fund based ICRA A3 25
facility
Issuer Not Cooperating
Vaighai Agro Products Ltd ST – Fund based ICRA A3 0
facility (Sublimit)
Issuer Not Cooperating
Vaighai Agro Products Ltd ST – Nonfund based ICRA A3 160
facility
Issuer Not Cooperating
Vogue Clothing Company ST – Fund based ICRA A4 57
facility
Issuer Not Cooperating
LONG TERM RATINGS:
-------------------
A. K. L. Infracon Pvt Ltd Bk Fac ICRA B+ 110 -
/ICRA A4
Reason for delay in carrying out periodic review: - (Issuer Not Cooperating)
Al-Nasir Exports Pvt Ltd LT/ST facility-Fund ICRA BB+ / 500 Assigned
Based ICRA A4+
Chennai International LT Proposed Fac - - Reaffirmed
Terminals Pvt Ltd
Chennai International LT; TL ICRA AA(SO) 1540.7 -
Terminals Pvt Ltd
Delhi Aviation Fuel Facility Fund based - TL ICRA AA- 700 Reaffirmed
Pvt Ltd
Delhi Aviation Fuel Facility Fund based - ICRA AA- 200 Reaffirmed
Pvt Ltd Overdraft Limits
Delhi Aviation Fuel Facility Unallocated Limits ICRA 900 Reaffirmed /
Pvt Ltd AA-/ICRA A1+ assigned
Earthcon Developers Pvt. Ltd. Fund based-TL ICRA D 120 Revised from
ICRA B
(Issuer Not Cooperating)
G.M. Pens International Pvt Ltd LT: TL ICRA BBB+ 481.4 Downgraded
from ICRA A
G.M. Pens International Pvt Ltd LT: FB Fac ICRA BBB+ 110.5 Downgraded
from ICRA A
G.M. Pens International Pvt Ltd LT: Unallocated Fac ICRA BBB+ 47.2 downgraded
from ICRA A
Ganges Ford (Proprietor: FB Limit – CC ICRA D 20 Downgraded
Lexicon Commercial Enterprises from ICRA BB
Ltd)
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ganges Ford (Proprietor: FB Limit – e-DFS ICRA D 140 Downgraded
Lexicon Commercial Enterprises from ICRA BB
Ltd)
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ganges Ford (Proprietor: FB Limit – Ad-hoc ICRA D 28 Downgraded
Lexicon Commercial Enterprises Limit on e-DFS from ICRA BB
Ltd)
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ganges Ford (Proprietor: FB Limit – Dropline ICRA D 35 Downgraded
Lexicon Commercial Enterprises Overdraft from ICRA BB
Ltd)
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Ganges Ford (Proprietor: Unallocated Limits ICRA D 4.3 Downgraded
Lexicon Commercial Enterprises from ICRA BB
Ltd)
Rating continues to remain under ‘(Issuer Not Cooperating)’ category
Indian School Finance Company PTC Series A1-(a) Provisional 250 Final Rating
Pvt Ltd ICRA A(SO)
Indian School Finance Company PTC Series A1-(b) Provisional 220 Final Rating
Pvt Ltd ICRA A(SO)
Indian School Finance Company PTC Series A2 Provisional 16.1 Final Rating
Pvt Ltd ICRA
BBB+(SO)
Kamakhya Board FBL ICRA B 10 -
Reason for delay in carrying out periodic review -Issuer Not Co-operating
Kurlon Enterprise Ltd FB Fac ICRA A+ 250 Reaffirmed
outlook revised to Positive from Stable
Kurlon Enterprise Ltd Unallocated ICRA A+ 400 Reaffirmed,
Upgraded
from ICRA A1;
Kurlon Ltd FB Fac ICRA A 170 Reaffirmed
Kurlon Ltd Unallocated Fac ICRA A 40 Reaffirmed
L&T Metro Rail (Hyderabad) Ltd NCD Programme ICRA AAA(SO) 1000 confirmed as
final
L&T Metro Rail (Hyderabad) Ltd NCD Programme ICRA AAA(SO) 7500 Outstanding
L&T Metro Rail (Hyderabad) Ltd NCD Programme Provisional 1500 Outstanding
ICRA AAA(SO)
Micro Units Development And Issuer rating ICRA AAA - Reaffirmed
Refinance Agency
National Cooperative Bond Programme ICRA AA 7500 -
Development Corporation
Reason for delay in carrying out periodic review: Review process is underway
National Cooperative Bk Lines Programme ICRA AA /A1 109995.5-
Development Corporation
Reason for delay in carrying out periodic review: Review process is underway
Pahal Financial Services Pvt. NCD programme ICRA BB+ 280 Assigned
Ltd.
Pahal Financial Services Pvt. NCD programme ICRA BB+ 150 Outstanding
Ltd.
Pahal Financial Services Pvt. NCD programme ICRA BB+ 400 Outstanding
Ltd.
Pal Fashions Pvt Ltd Fund based- CC ICRA BBB+ 150 -
Pal Fashions Pvt Ltd Fund based – TL ICRA BBB+ 163.7 -
Pal Fashions Pvt Ltd Unallocated limits ICRA BBB+ 6.3 -
/ ICRA A2
Paratus Real Estates Pvt. Ltd. Fund based-TL ICRA D 180 Revised from
ICRA B+
(Issuer Not Cooperating)
Polyplastics Decorative Pvt. LT – Fund Based / ICRA A- 70 assigned/
Ltd. CC(SO) (SO) Outstanding
Polyplastics Decorative Pvt. LT – Fund Based TL(SO)ICRA A- 527 assigned/
Ltd. (SO) Outstanding
Sai Swadhin Commercials Pvt Ltd FB Limit – Term ICRA D 37.5 Downgraded
from ICRA B-
Sai Swadhin Commercials Pvt Ltd FB Limit – Cash ICRA D 50 Downgraded
from ICRA B-
SBI General Insurance Co. Ltd CPA rating iAAA - Reaffirmed
Sharavathy Conductors Pvt Ltd LT - Fund based - CC ICRA BBB- 104.5 Reaffirmed
facility
Sharavathy Conductors Pvt Ltd LT- Fund based- TL ICRA BBB- 8.3 Reaffirmed
Sharavathy Conductors Pvt Ltd Unallocated Limits ICRA BBB- Reaffirmed
/A3;
Shree Murugan Flour Mills (P) LT – FB ICRA D 300 -
Ltd
(Issuer Not Cooperating)
Shri Hare Krishna Sponge Iron Bk Fac ICRA B/ICRA 135 -
Ltd A4
(Issuer Not Cooperating)
SMC Power Generation Ltd FB -TL ICRA BBB+ 600 Upgraded
from ICRA BBB
SMC Power Generation Ltd FB - Working Capital ICRA BBB+ 825 Upgraded
Fac from ICRA BBB
SMC Power Generation Ltd Non-fund ICRA BBB+ 1075 upgraded
Based-Working Capital /ICRA A2 from ICRA
Fac BBB /ICRA A3+
ST. Wilfred Education Society FBL ICRA BB+ 200 -
Reason for delay in carrying out periodic review- Info and fee not provided
Topland Engines Pvt Ltd CC ICRA BBB+ 100 -
Reason for delay in carrying out periodic review: - Review process in underway
VLCC Health Care Ltd LT FB Bk Fac ICRA BBB 390.3 Downgraded
from ICRA A-
VLCC Health Care Ltd LT unallocated Bk Fac ICRA BBB 14.7 Downgraded
from ICRA A-
--
VLCC Personal Care Ltd LT FB Bk Fac: CC ICRA BBB 450 Downgraded
from ICRA A-
VLCC Personal Care Ltd LT FB Bk Fac: TL ICRA BBB 100 Downgraded
from ICRA A-
A.P.R. Ginn And Pressing Mills LT – Fund based ICRA B 50
facility
Issuer Not Cooperating
Bestitch Knits LT – TL ICRA BB- 40
Issuer Not Cooperating
Bestitch Knits LT – Fund based ICRA BB- 60
facility
Issuer Not Cooperating
Budding Brains International LT – Fund Based ICRA B 72.5
School (Bhagat Sucha Singh Ji
Memorial Educational Society)
Issuer Not Cooperating
Budding Brains International LT – Unallocated ICRA B 67.5
School (Bhagat Sucha Singh Ji
Memorial Educational Society)
Issuer Not Cooperating
C.K. Industries BLR ICRA B+ 199.5
Issuer Not Cooperating
Indag Rubber Ltd LT – Fund Based ICRA A+ 80
Review process is underway
Prince Yarnn India Ltd LT – TL ICRA B+ 128.1
Issuer Not Cooperating
Prince Yarnn India Ltd LT – CC ICRA B+ 70
Issuer Not Cooperating
Prince Yarnn India Ltd LT – BG ICRA B+ 20
Issuer Not Cooperating
Prince Yarnn India Ltd LT – Unallocated ICRA B+ 0.2
facility
Issuer Not Cooperating
Signet Denim Pvt. Ltd. BLR ICRA B+ 770
Issuer Not Cooperating
Stable Packaging Pvt Ltd LT – Fund Based ICRA B+ 60
Issuer Not Cooperating
Stable Packaging Pvt Ltd ST – Fund Based ICRA B+ 80
Issuer Not Cooperating
Sungloss Ceramic Industries BLR ICRA BB- /A4 151.7
Issuer Not Cooperating
Transtek Infoways Pvt Ltd LT – Fund Based ICRA BB- 120
Issuer delayed in giving information
Vaighai Agro Products Ltd LT – TL ICRA BBB- 83.2
Issuer Not Cooperating
Vaighai Agro Products Ltd LT – Fund based ICRA BBB- 210
facility
Issuer Not Cooperating
Vaighai Agro Products Ltd LT – Unallocated ICRA BBB- 2.7
facility
Issuer Not Cooperating
Vogue Clothing Company LT – TL ICRA B+ 3
Issuer Not Cooperating
Vogue Clothing Company Long / ST – ICRA B+/ 40
Unallocated facility ICRA A4
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)
