October 25, 2018 / 11:04 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Oct 25

 (Repeating to add more ratings.)
    Oct 25 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 24, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Haideri Timber Pvt. Ltd.                Non-Fund based- LOC   ICRA A4      85      Withdrawn
Haldiram Marketing Pvt. Ltd.            Non-FBL               ICRA A1      30      outstanding
Indian Overseas Bank                    CD                    ICRA A1+     150000  outstanding
Ivalue Infosolutions Pvt Ltd            ST – Fund Based       ICRA A3+     450
Upgraded from       A3
Ivalue Infosolutions Pvt Ltd            ST – Non-fund based   ICRA A3+     280
Upgraded from       A3
Kalyan Silks Trichur Pvt Ltd            ST – Interchangeable  ICRA A2      -       Reaffirmed
                                        limits
Khatushyam Processors (P) Ltd           Non-fund based-LOC    ICRA A4      10      Reaffirmed
Khatushyam Processors (P) Ltd           Non-fund              ICRA A4      -       Reaffirmed
                                        based-Buyer’s Credit#
#Sub limit of Letter of Credit
Khatushyam Processors (P) Ltd           Non-fund based-BG#    ICRA A4      -       Reaffirmed
#Sub limit of Letter of Credit
Kumaragiri Electronics Ltd              Non-FB facility       ICRA A4      40      Reaffirmed
Lagnam Spintex Ltd                      ST— FB                ICRA A3      10      Reaffirmed
Lagnam Spintex Ltd                      ST— Non FB            ICRA A3      15.3    Reaffirmed
Pv Knit Fashions                        Short–term: NonFB Fac ICRA A4      1.5
Issuer non-cooperating: Rating Continues to remain in Non-Cooperating category
Shiva & Shiva Orthopaedic               Non FB                ICRA A3+     10
Hospital Pvt Ltd
upgraded from ICRA A3
Sreelekshmi Cashew Company              ST Fund Based         ICRA A3      420
Issuer delayed in giving information
Sreelekshmi Cashew Company              ST Interchangeable    ICRA A3      -
Issuer delayed in giving information
Sreelekshmi Cashew Company              ST Unallocated        ICRA A3      5
Issuer delayed in giving information
Starlite Lighting Ltd                   ST- Non FB limits     ICRA         100     outstanding
                                                              A1+(SO)^
^The rating is principally based on a corporate guarantee from Bajaj Electricals Limited and an
undertaking provided by the guarantor that it would ensure that the related debt obligations are
serviced on or prior to the due date.
Svatantra Microfin Pvt Ltd              MFI Grading           M2+          -       Assigned
Vin Mart (H.K.) Ltd                     ST Fund Based and     ICRA A4+     182.5   Assigned
                                        Non-FBL - General
                                        Line of Credit
Krishna Fashion                         Non-fund based        ICRA A4      15      Withdrawn
Issuer not cooperating
Kumaragiri Electronics Ltd              Non-FB facility       ICRA A4      40      Reaffirmed
   
LONG TERM RATINGS:
-------------------
Ambica Agarbathies Aroma &              FB limits MFI Grading ICRA B       660
Industries Ltd
Assigned
Amrita Developers (Indore) Pvt          LT - FBL              ICRA BB-     147.5
Ltd
Review process is underway
Brahmaputra Infrastructure Ltd          LT - Fund Based/ CC   ICRA D       1459.8
Rating continues to remain in the ‘Issuer non-cooperating’ category
Brahmaputra Infrastructure Ltd          LT - Fund Based TL    ICRA D       2697.4
Rating continues to remain in the ‘Issuer non-cooperating’ category
Brahmaputra Infrastructure Ltd          ST - Non-Fund Based   ICRA D       4780.8
Rating continues to remain in the ‘Issuer non-cooperating’ category
Five-Star Business Finance Ltd          LT fund based Bk Fac  ICRA A       1000
Upgraded from ICRA A-
Five-Star Business Finance Ltd          NCD                   ICRA A       250
Upgraded from ICRA A-
Five-Star Business Finance Ltd          NCD                   ICRA A       240
Upgraded from ICRA A-
Haideri Timber Pvt. Ltd.                Fund based- CC        ICRA B       5       Withdrawn
Haldiram Marketing Pvt. Ltd.            FBL                   ICRA A       250
Assigned/ outstanding
Indian Overseas Bank                    Upper Tier-II Bonds   ICRA A-      14770   outstanding
Indian Overseas Bank                    Upper Tier-II Bonds   ICRA A-      6553    Withdrawn
Indian Overseas Bank                    Perpetual Bonds       ICRA A-      3000    outstanding
Indian Overseas Bank                    Lower Tier-II Bonds   ICRA A+      12900   outstanding
Indian Overseas Bank                    Lower Tier-II Bonds   ICRA A+      3000    Withdrawn
Indian Overseas Bank                    Basel III Compliant   ICRA A+      3000    Assigned
                                        Tier-II Bonds         (hyb)
Indian Overseas Bank                    Basel III Compliant   ICRA A+      8000    outstanding
                                        Tier-II Bonds         (hyb)
Ivalue Infosolutions Pvt Ltd            LT – Fund Based (CC)  ICRA BBB     180
Upgraded from       BBB-
Ivalue Infosolutions Pvt Ltd            LT – Fund Based (TL)  ICRA BBB     50
Upgraded from       BBB-
Kalyan Silks Trichur Pvt Ltd            LT fund based – CC    ICRA BBB+    600     Reaffirmed
Kalyan Silks Trichur Pvt Ltd            LT – Fund based – TL  ICRA BBB+    -       Reaffirmed
Khatushyam Processors (P) Ltd           FB-CC                 ICRA BB-     50
Upgraded from ICRA B+
Khatushyam Processors (P) Ltd           FB-TL                 ICRA BB-     31.9
Upgraded from ICRA B+
Khatushyam Processors (P) Ltd           Unallocated Limits    ICRA BB-     27.1
Upgraded from ICRA B+ /ICRA A4; Reaffirmed
Kumaragiri Electronics Ltd              Fund based-TL         ICRA B-      26.4    Reaffirmed
Kumaragiri Electronics Ltd              Fund based- Working   ICRA B-      90      Reaffirmed
                                        Capital Fac
Lagnam Spintex Ltd                      LT— FB                ICRA BBB-    550.6   Reaffirmed
Punjab Retail Pvt Ltd                   FB Limits – CC        ICRA BBB-    480     Reaffirmed
Pv Knit Fashions                        LT: TL                ICRA B+      0.9
Issuer non-cooperating Rating Continues to remain in Non-Cooperating category
Pv Knit Fashions                        Long–term: FB Fac     ICRA B+      75
Issuer non-cooperating: Rating Continues to remain in Non-Cooperating category
Pv Knit Fashions                        Long–term: Proposed   ICRA B+      35.8
                                        Fac
Issuer non-cooperating: Rating Continues to remain in Non-Cooperating category
Rmp Farms                               Fund based-TL         ICRA BB      164
Ratings continues to remain in ‘Issuer non-cooperating’ category
Rmp Farms                               Fund based-CC         ICRA BB      36
Ratings continues to remain in ‘Issuer non-cooperating’ category
School Book Company                     FB- CC                ICRA B+      50
Issuer non-cooperating
School Book Company                     Fund based- TL        ICRA B+      40
Issuer non-cooperating
Shiva & Shiva Orthopaedic               FB – TL               ICRA BBB     574.5
Hospital Pvt Ltd
Upgraded from ICRA BBB-; outlook revised from ‘Positive’ to ‘Stable’
Shiva & Shiva Orthopaedic               FB – CC               ICRA BBB     100
Hospital Pvt Ltd
Upgraded from ICRA BBB-; outlook revised from ‘Positive’ to ‘Stable’
Shri Ganesh Industries                  CC                    ICRA B+      60
Issuer not cooperating
Shri Ganesh Industries                  Unallocated           ICRA B+      40
Issuer not cooperating
Sreelekshmi Cashew Company              LT Fund Based         ICRA BBB-    5
Issuer delayed in giving information
Starlite Lighting Ltd                   LT - NCD Programme    ICRA A+(SO)  250     outstanding
Starlite Lighting Ltd                   LT - NCD Programme    ICRA A+(SO)  800
Provisional rating confirmed as final
Starlite Lighting Ltd                   LT - NCD Programme    ICRA A+(SO)  600
Provisional Assigned
Starlite Lighting Ltd                   LT - FBL              ICRA A+(SO)^ 920     outstanding
^The rating is principally based on a corporate guarantee from Bajaj Electricals Limited and an
undertaking provided by the guarantor that it would ensure that the related debt obligations are
serviced on or prior to the due date.
Tower Vision India Pvt Ltd              Long-TL               ICRA A-      11700
Reaffirmed at ICRA A-; outlook revised to Stable from Negative
Triveni Silk Mills                      LT - Fund Based/ CC   ICRA B       100
Issuer not cooperating
Triveni Silk Mills                      LT - Fund Based TL    ICRA B       5
Issuer not cooperating
Victora Tool Engineers Pvt Ltd          FB - Working Capital  ICRA BBB-    785     Assigned
                                        Fac
Victora Tool Engineers Pvt Ltd          FB - TL               ICRA BBB-    1350    Assigned
Victora Tool Engineers Pvt Ltd          Issuer Rating         ICRA BBB-    -       Assigned
Victora Tool Engineers Pvt Ltd          Unallocated           ICRA BBB-    365     Assigned
                                                              /ICRA A3
Krishna Fashion                         Fund based-Working    ICRA B+      125     Withdrawn
                                        Capital
Issuer not cooperating
Krishna Fashion                         Fund based-TL         ICRA B+      356.5#  Withdrawn
Issuer not cooperating,#includes Letter of Credit (Import)/Buyers’ credit sub-limit of Term Loan
of Rs. 15.75 crore.
Krishna Fashion                         Unallocated Limits    ICRA B+      0.4     Withdrawn
Issuer not cooperating
Kumaragiri Electronics Ltd              Fund based-TermLoan   ICRA B-      26.4    Reaffirmed
Kumaragiri Electronics Ltd              Fund based-Working    ICRA B-      90      Reaffirmed
                                        Capital Fac
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below