October 8, 2018 / 11:11 AM / 7 months ago

RPT-ICRA ratings for Indian debt instruments-Oct 8

 (Repeating to add additional ratings as of October 5, 2018)
    Oct 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 5, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Dr Enterprise Automotive Pvt            ST Fund based         ICRA A3+     700     Assigned
Ltd
Emaar Mgf Land Ltd                      Non-FB Limits         ICRA A3+     2000    Assigned
Govindegowda And Sons                   Non-FB Fac (BG)       ICRA A4+     150     Assigned
India Motor Parts And                   ST: Non-Fund based    ICRA A1+             Reaffirmed
Accessories Ltd                         facility (sub limit)
Jm Financial Capital Ltd                CP programme (IPO     ICRA A1+
                                        Financing)
Jm Financial Capital Ltd                CP programme (IPO     ICRA A1+     5000    Withdrawn
                                        Financing)
Jm Financial Capital Ltd                CP Programme          ICRA A1+     10000   Outstanding
Jm Financial Products Ltd               CP Programme (IPO     ICRA A1+             Withdrawn
                                        Financing)
Jm Financial Products Ltd               CP programme          ICRA A1+     45000   Outstanding
Jm Financial Properties And             CP programme (IPO     ICRA A1+             Withdrawn
Holdings Ltd                            Financing)
Jm Financial Properties And             CP programme          ICRA A1+     500     Outstanding
Holdings Ltd
Peninsula Land Ltd                      CP                    ICRA A2+             Withdrawn
Priyadarshini Polysacks Ltd             ST – Non-Fund Based-BGICRA A3      8.5     Reaffirmed
S&Ib Services Pvt Ltd                   Non-fund Based –      ICRA A2+     550     Reaffirmed
                                        Working Capital Fac
Removed from ‘Issuer Not Cooperating’ category
Sap Industries                          Fund based facility   ICRA A4      5       Reaffirmed
Sap Industries                          Non-fund based        ICRA A4      52.5    Reaffirmed
                                        facility
Shiny Shipping & Logistics              ST non FB limits      ICRA A3      168     Withdrawn
Pvt. Ltd.
Spaceage Associates Power               Non FB – LOC/BG LimitsICRA A4      450     Reaffirmed
Infra Pvt Ltd
Tarini Motors Pvt Ltd                   Non-fund Based- BG    ICRA A4      5.5     Reaffirmed
Unique Biotech Ltd                      Non-fund based –      ICRA A2      25
                                        Bills Discounting
Upgraded from ICRA A3+
Vinit Gloves Manufacturing Pvt          FB – Packing Credit / ICRA A3      160     Reaffirmed
Ltd                                     PreShipment Credit in
                                        Foreign Currency
Vinit Gloves Manufacturing Pvt          FB – Post Shipment    ICRA A3      20      Reaffirmed
Ltd                                     Limit
Vinit Gloves Manufacturing Pvt          Non-fund based – LOC  ICRA A3      7.5     Reaffirmed
Ltd                                     (Inland/Import)
Vinit Gloves Manufacturing Pvt          Non-fund based –Loan  ICRA A3      60      Reaffirmed
Ltd                                     Equivalent factor for
                                        Forward Covers
Ace Designers Ltd                       ST - FB Fac           ICRA A1+     300     Outstanding
Avg Motors Ltd                          ST – FB               ICRA A2      20      Reaffirmed
Creditaccess Grameen Ltd                CP                    ICRA A1+     2000    Outstanding
Rated limits revised

LONG TERM RATINGS:
-------------------
Aye Finance (P) Ltd.- Northern          PTC Series A1         ICRA A (SO)  251.7
Arc 2018 Sbl Sadhya
Provisional assigned
Aye Finance (P) Ltd.- Northern          PTC Series A2         ICRA BBB     12.1
Arc 2018 Sbl Sadhya                                           (SO)
Provisional assigned
Chennai Auto Agency Pvt Ltd             LT: FB Fac            ICRA BBB     200     Reaffirmed
Cholamandalam Investment And            PTC Series A          ICRA AAA             Reaffirmed
Finance Co. Ltd- Platinum                                     (SO)
Trust – December 2013 Tranche II
Cholamandalam Investment And            PTC Series A          ICRA AAA             Reaffirmed
Finance Co. Ltd- Platinum                                     (SO)
Trust – December 2013 Tranche IV
Cholamandalam Investment And            PTC Series A          ICRA AAA             Reaffirmed
Finance Co. Ltd- Platinum                                     (SO)
Trust – March 2014 Tranche II
Cholamandalam Investment And            PTC Series A          ICRA AAA     3112.8
Finance Co. Ltd- Platinum                                     (SO)
Trust September 2018 – Tranche III
Provisional assigned
Cholamandalam Investment And            Second Loss Facility  ICRA BBB+    171.2
Finance Co. Ltd- Platinum                                     (SO)
Trust September 2018 – Tranche III
Provisional assigned
Coastal Energen Pvt Ltd                 TL                    ICRA D       61137.9 Reaffirmed
Coastal Energen Pvt Ltd                 CC                    ICRA D       11500   Reaffirmed
Coastal Energen Pvt Ltd                 ST Non-fund Based     ICRA D       400     Reaffirmed
Coastal Energen Pvt Ltd                 LT Non-fund Based     ICRA D       4652    Reaffirmed
Coastal Energen Pvt Ltd                 Unallocated Limit     ICRA D       252.1   Reaffirmed
Disha Communications Pvt Ltd            Fund based            ICRA BB+     92.5    Reaffirmed
Disha Communications Pvt Ltd            Non-fund based        ICRA BB+     6.5     Reaffirmed
Dr Enterprise Automotive Pvt            LT FB TL              ICRA BBB     1300    Assigned
Ltd
Emaar Mgf Land Ltd                      TL                    ICRA BBB     7790    Assigned
Emaar Mgf Land Ltd                      Overdraft             ICRA BBB     2200    Assigned
Ganges Internationale Pvt. Ltd          Fund Based - Working  ICRA BBB+    250     Assigned
                                        Capital Fac
Govindegowda And Sons                   FB Fac (CC)           ICRA BB      80      Assigned
Govindegowda And Sons                   Unallocated Limits    ICRA BB      20      Assigned
India Motor Parts And                   LT: Fund based        ICRA AA      160     Reaffirmed
Accessories Ltd                         facility
India Motor Parts And                   LT: Non-Fund based    ICRA AA      2.5     Reaffirmed
Accessories Ltd                         facility
Jm Financial Capital Ltd                NCD Programme         ICRA AA      2000    Outstanding
Jm Financial Capital Ltd                LT Equity Linked      PP-MLD ICRA  2000    Outstanding
                                        Debentures (Principal AA
                                        Protected)
Jm Financial Products Ltd               NCD programme         ICRA AA      25000   Outstanding
Jm Financial Products Ltd               LT Bk lines           ICRA AA      15000   Outstanding
Jm Financial Products Ltd               LT market linked      PP-MLD ICRA  5000    Outstanding
                                        debentures (Principal AA
                                        Protected)
Jm Financial Properties And             TL                    ICRA AA      1350    Outstanding
Holdings Ltd
Locksmiths Industries Pvt Ltd           Ratings               ICRA B- /A4
removed from the ‘ISSUER NOT COOPERATING’ category as the company has now submitted its ‘No
Default Statement’ (“NDS”)
Mi Solar (India) Pvt Ltd                FB– TL                ICRA BB-     35      Assigned
Mi Solar (India) Pvt Ltd                FB–CC                 ICRA BB-     22      Assigned
Obeetee Pvt Ltd                         LT/ST Fund Based      ICRA A+ /A1  571     Reaffirmed
Obeetee Textiles Pvt Ltd                LT/ST Fund Based      ICRA A+ /A1  211     Reaffirmed
Pan India Infraprojects Pvt Ltd         Long-TL               ICRA BBB     6410
outstanding; outlook revised to Negative from Stable
Pan India Infraprojects Pvt Ltd         LT, Unallocated LimitsICRA BBB     5590
outstanding; outlook revised to Negative from Stable
Peninsula Land Ltd                      NCD Programme         ICRA A-              Withdrawn
Peninsula Land Ltd                      NCD Programme         ICRA BBB+    6489.3
Downgraded from ICRA A-
Pracaya Financial Services Pvt          CC Facility           ICRA BBB-    125
Ltd                                                           (SO)
Provisional rating confirmed as final
Pracaya Financial Services Pvt          TL                    ICRA BBB-    125
Ltd                                                           (SO)
Provisional rating confirmed as final
Pristine Industries Ltd                 LT – Fund Based – TL  ICRA BB      137.6   Reaffirmed
                                        Fac
Pristine Industries Ltd                 LT – Fund Based –     ICRA BB      150     Reaffirmed
                                        Working Capital Fac
Pristine Industries Ltd                 LT – Unallocated      ICRA BB      112.4   Reaffirmed
Priyadarshini Polysacks Ltd             LT – Fund Based – TL  ICRA BBB-    271.5   Reaffirmed
                                        Fac
Priyadarshini Polysacks Ltd             LT – Fund Based –     ICRA BBB-    220     Reaffirmed
                                        Working Capital Fac
Riddhi Siddhi Cotfiber Pvt Ltd          FB-CC cum optionally  ICRA B+      130     Reaffirmed
                                        convertible
                                        debentureBD
Riddhi Siddhi Cotfiber Pvt Ltd          FB -TL                ICRA B+      28.5    Reaffirmed
S&Ib Services Pvt Ltd                   FB – CC               ICRA BBB+    170     Reaffirmed
Removed from ‘Issuer Not Cooperating’ category
S&Ib Services Pvt Ltd                   FB – TL               ICRA BBB+    96      Reaffirmed
Removed from ‘Issuer Not Cooperating’ category
S&Ib Services Pvt Ltd                   Unallocated Limit     ICRA BBB+    34      Reaffirmed
                                                              /A2+
Sap Industries                          CC                    ICRA B       25      Reaffirmed
Sap Industries                          Unallocated facility  ICRA B /A4   17.5    Reaffirmed
Shiny Shipping & Logistics              LT FB limits          ICRA BBB-    175     Withdrawn
Pvt. Ltd.
Shree Ganesh Cotton                     FB - CC               ICRA B+      100
Industries-Rajkot
Upgraded from ICRA B
Shree Ganesh Cotton                     FB – TL               ICRA B+      12.7
Industries-Rajkot
Upgraded from ICRA B
Shree Ganesh Cotton                     Unallocated limits    ICRA B+      0.3
Industries-Rajkot
Upgraded from ICRA B
Sm Electronic Technologies              LT - FB - CC          ICRA BB+     120     Reaffirmed
Pvt. Ltd.
outlook revised from Stable to Positive
Sm Electronic Technologies              LT - FB - TL          ICRA BB+     15.8    Reaffirmed
Pvt. Ltd.
outlook revised from Stable to Positive
Sm Electronic Technologies              LT/ST – Unallocated   ICRA BB+     0.7     Reaffirmed
Pvt. Ltd.                                                     /A4+
outlook revised from Stable to Positive
Spaceage Associates Power               FB – CC Limits        ICRA BB-     135     Reaffirmed
Infra Pvt Ltd
Svf Entertainment Pvt Ltd               FB/ Non-Fund Based Bk ICRA BBB+    350     Reaffirmed
(Earlier Shree Venkatesh Films          Limits                /A2+
Pvt Ltd)
Tarini Motors Pvt Ltd                   FB -TL                ICRA B+      6       Reaffirmed
Tarini Motors Pvt Ltd                   FB - CC               ICRA B+      39.5    Reaffirmed
Tarini Motors Pvt Ltd                   Unallocated Limit     ICRA B+      23.9    Reaffirmed
The Indian Hotels Co. Ltd               NCD (NCD) Programmes #ICRA AA      16000   Reaffirmed
# Aggregate amount outstanding against the rated NCDs is Rs. 800 crore
Tirupati Cotex                          Fund based-TL         ICRA B+      10      Reaffirmed
Tirupati Cotex                          Fund based-CC         ICRA B+      60      Reaffirmed
Unique Biotech Ltd                      Fund based - CC       ICRA BBB+    60
Upgraded from ICRA BBB
Unique Biotech Ltd                      Fund based - TL       ICRA BBB+    95.6
Upgraded from ICRA BBB
Unique Biotech Ltd                      Unallocated Limits    ICRA BBB+    41.6
Upgraded from ICRA BBB /A3+
V.S.T. And Sons Pvt Ltd                 LT: FB Fac            ICRA BBB     450     Reaffirmed
V.S.T. Auto Parts Pvt Ltd               LT: FB Fac            ICRA BBB     310     Reaffirmed
V.S.T. Motors Pvt Ltd                   LT: FB Fac            ICRA BBB     650     Reaffirmed
Vaya Finserv Pvt Ltd                    NCD programme         ICRA BBB-    250     Assigned
Vaya Finserv Pvt Ltd                    NCD programme         ICRA BBB-    430     Assigned
Vaya Finserv Pvt Ltd                    LT Bk lines           ICRA BBB-    5000    Outstanding
Venkata Naga Lakshmi Paper              Fund based-TL         ICRA BB-     6.8
Mills Pvt Ltd
Upgraded from ICRA B+
Venkata Naga Lakshmi Paper              Fund based- Working   ICRA BB-     90
Mills Pvt Ltd                           Capital Fac
Upgraded from ICRA B+
Venkata Naga Lakshmi Paper              Unallocated           ICRA BB-     153.2
Mills Pvt Ltd
Upgraded from ICRA B+ /A4
Vinit Gloves Manufacturing Pvt          FB – CC#              ICRA BBB-            Reaffirmed
Ltd
# Sub-limit of packing credit
Vinit Gloves Manufacturing Pvt          Non-fund based – BG^  ICRA BBB-            Reaffirmed
Ltd
^ Sub-limit of letter of credit
Vinit Gloves Manufacturing Pvt          Unallocated Limits    ICRA BBB-    2.5     Reaffirmed
Ltd                                                           /A3
Ace Designers Ltd                       LT - TL               ICRA AA-     2000    Assigned
Ace Designers Ltd                       LT - FB Fac           ICRA AA-     150     Outstanding
Avg Motors Ltd                          LT – FB               ICRA BBB+    134     Reaffirmed
Avg Motors Ltd                          LT/ST – Unallocated   ICRA BBB+    35.7    Reaffirmed
                                                              /A2
Creditaccess Grameen Ltd                Bk Fac                ICRA A+      25000   Outstanding
Creditaccess Grameen Ltd                NCD (NCD) Programme   ICRA A+      6949.7  Outstanding
Rated limits revised
Creditaccess Grameen Ltd                NCD Programme         ICRA A+              Withdrawn
Creditaccess Grameen Ltd                Sub-ordinated Debt    ICRA A+      140.3   Outstanding
                                        programme
Rated limits revised
Maars Infra Developers Pvt Ltd          NCD Programme         ICRA BBB     600
                                                              (SO)
Provisional rating confirmed as final
Raghava Water Flows Pvt. Ltd.           Provisional TL (TL)   ICRA BBB-    2150    Provisional
Raghava Water Projects Pvt.             Provisional TL (TL)   ICRA BBB-    2020    Provisional
Ltd.
Raghava Water Works Pvt Ltd             Provisional TL (TL)   ICRA BBB-    5000    Provisional

--------------------------------------------------------------------------------------------
$: 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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