October 9, 2019 / 11:23 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Oct 9

 (Repeating to add more ratings)
    Oct 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 7, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Angre Port Pvt Ltd                      Capex LC (sub-limit   ICRA A2+(CE) -       Reaffirmed
                                        of TL)
Chowgule And Company Pvt Ltd            ST Fund Based and     ICRA A1      1820.3  Downgraded
                                        Non-FBL                                    from ICRA
                                                                                   A1+ and
removed from rating watch with negative implications
Iic Technologies Ltd                    ST: Fund based –      ICRA A4+     50      revised from
                                        Standby Line of Credit                     ICRA A3+
Iic Technologies Ltd                    ST: Non-Fund Based –  ICRA A4+     340     revised from
                                        BG                                         ICRA A3+
Lic Housing Finance Ltd                 CP programme          ICRA A1+     175000  Reaffirmed
Mahindra & Mahindra Ltd                 ST, Non-FB Fac        ICRA A1+     3500    -
Oxyzo Financial Services Pvt            CP                    ICRA A2      150     Reaffirmed
Ltd
Sundaram Asset Management               Sundaram Money Fund   ICRA A1+mfs  -       Assigned
Company Ltd
Borosil Ltd (Erstwhile                  ST: NFBL              -            -       -
Dlf Home Developers Ltd                 CP                    ICRA A1      3500    Assigned
Merittrac Services Pvt Ltd              Non-fund based - LOC  ICRA BBB+    -       Reaffirmed
                                        (sub-limit)           (Stable)/
                                                              ICRA A2+
Powered Epc Services Ltd                Non-fund based – BG   ICRA A4      50.6    Reaffirmed
Security And Intelligence               Non-FBL Trust Name    ICRA A1+     1740    Assigned to
Services (India) Ltd                                                               enhanced
                                                                                   amount Rating
                                                                                   Action
Tps Infrastructure Ltd                  Non-fund Based BG     ICRA A4+     960     Withdrawn

LONG TERM RATINGS:
-------------------
Agri Power And Engineering              NCD Programme         ICRA D       1190    Downgraded
Solutions Pvt Ltd                                                                  from ICRA
                                                                                   B-@ 
                                                                                  and withdrawn
@ - Under rating watch with negative implications
Angre Port Pvt Ltd                      TL                    ICRA A-(CE)  1730.4  Reaffirmed
Bindu Vayu Urja Pvt Ltd                 FB - TL               ICRA BBB+    22449.8 Downgraded
                                                              (CE)                 from ICRA A
                                                                                   (SO) 
& rating watch with developing implications removed and negative , outlook assigned
Bindu Vayu Urja Pvt Ltd                 FB - Working Capital  ICRA BBB+    1815.4  Downgraded
                                                              (CE)                 from ICRA A
                                                                                   (SO) 
& rating watch with developing implications removed and negative , outlook assigned
Chowgule And Company Pvt Ltd            TL                    ICRA A       1450    Downgraded
                                                                                   from ICRA A+
                                                                                   and removed
                                                                                   from rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Chowgule And Company Pvt Ltd            LT Non-FBL            ICRA A       1350    Downgraded
                                                                                   from ICRA A+
                                                                                   and removed
                                                                                   from rating
                                                                                   watch with
                                                                                   negative
                                                                                   implications
Fairleaf Real Estate Pvt Ltd            LT Fund based – TL    ICRA A       3500    Reaffirmed
                                                              (Stable);
Fairleaf Real Estate Pvt Ltd            LT Unallocated        ICRA A       1500    Reaffirmed
                                                              (Stable);
Gkc Projects Ltd                        BLR                   ICRA D       22000   -
Issuer did not co-operate; based on best available information
Iic Technologies Ltd                    LT: CC Fac            ICRA BB+     270     revised from
                                                              (Stable)             ICRA BBB
                                                                                   (Stable)
Iic Technologies Ltd                    LT: TL                ICRA BB+     15      revised from
                                                              (Stable)             ICRA BBB
                                                                                   (Stable)
Iic Technologies Ltd                    Long/ ST: Unallocated ICRA BB+     161.4   revised from
                                                              (Stable) /           ICRA BBB
                                                              ICRA A4+             (Stable)/
                                                                                    ICRA A3+
Iic Technologies Ltd                    Medium Term Fixed     MB+ (Stable) 50      Assigned
                                        Deposit
India Shelter Finance                   NCD Programme         ICRA A       2000    Assigned
Corporation Ltd
India Shelter Finance                   NCD Programme         ICRA A       1500    outstanding
Corporation Ltd
India Shelter Finance                   Fund Based – TL       ICRA A       5000    Rated amount
Corporation Ltd                                                                    enhanced
Mahindra & Mahindra Ltd                 NCD Programme         ICRA AAA     5000    -
Mahindra & Mahindra Ltd                 LT, FB Fac            ICRA AAA     650     -
Mahindra & Mahindra Ltd                 LT, Non-FB Fac        ICRA AAA     1100    -
Mytrah Vayu (Godavari) Pvt Ltd          FB - TL               ICRA BBB-    6462.5  Reaffirmed
outlook remains Negative
Mytrah Vayu (Godavari) Pvt Ltd          FB - Overdraft        ICRA BBB-    530     Reaffirmed
outlook remains Negative
Mytrah Vayu (Godavari) Pvt Ltd          Unallocated           ICRA BBB-    327.5   Reaffirmed
outlook remains Negative
Mytrah Vayu (Sabarmati) Pvt Ltd         FB - TL               ICRA BBB-    14520   Downgraded
                                                                                   from ICRA
                                                                                   BBB;
outlook remains Negative
Northern Arc Capital Ltd -              PTC Series A1         Provisional  708.9   Assigned
Northern Arc 2019 Mosec                                       ICRA A-(SO)
Northern Arc Capital Ltd -              PTC Series A2         Provisional  24.4    Assigned
Teesta                                                        ICRA
                                                              BBB-(SO)
Orange Anantapur Wind Power             FB – CC               ICRA BBB     172.7   outlook
Pvt Ltd                                                       (Negative)           revised to
                                                                                   ‘Negative’
                                                                                   and rating
                                                                                   watch with
                                                                                   developing
                                                                                   implications
                                                                                   removed
Oxyzo Financial Services Pvt            Non- Convertible      ICRA BBB     200     Assigned
Ltd                                     Debenture
Oxyzo Financial Services Pvt            Non- Convertible      ICRA BBB     400     Reaffirmed
Ltd                                     Debenture
Oxyzo Financial Services Pvt            LT Bk Lines           ICRA BBB     500     Reaffirmed
Ltd
Oxyzo Financial Services Pvt            Issuer rating         ICRA BBB     -       Reaffirmed
Ltd
Oxyzo Financial Services Pvt            LT-Market Linked      PP-MLD ICRA  170     Reaffirmed
Ltd                                     Debenture             BBB
Srijan Realty Pvt Ltd                   TL                    ICRA A-      592.4   outstanding
Srijan Realty Pvt Ltd                   Fund Based - OverdraftICRA A-      158.2   outstanding
Srijan Realty Pvt Ltd                   Unallocated           ICRA A-      749.4   outstanding
Srijan Realty Pvt Ltd                   Issuer Rating         ICRA A-      -       Withdrawn
Sundaram Asset Management               Sundaram Bking & PSU  ICRA AAAmfs  -       Assigned
Company Ltd                             Debt Fund
Sundaram Asset Management               Sundaram Corporate    ICRA AAAmfs  -       outstanding
Company Ltd                             Bond Fund
Talwalkars Better Value                 Non-convertible       ICRA D       800     downgraded
Fitness Ltd                                                                        from ICRA C
continues to remain in the ‘Issuer Not Cooperating’ category
Vayu Urja Bharat Pvt Ltd                TL                    ICRA BBB     8580    -
                                                              (Negative)
outlook revised to ‘Negative’ and rating watch with developing implications removed
Hopewell Tableware Pvt Ltd)
Borosil Ltd (Erstwhile                  LT: Unallocated limits-            -       -
Hopewell Tableware Pvt Ltd)
Borosil Ltd (Erstwhile                  LT: Fund based – CC   ICRA BB &    250     Reaffirmed
Hopewell Tableware Pvt Ltd)
Continues on watch with developing implications
Borosil Ltd (Erstwhile                  LT/ST: Unallocated    ICRA BB & /  50      Reaffirmed
Hopewell Tableware Pvt Ltd)             limits                ICRA A4+ &
Continues on watch with developing implications
Borosil Ltd (Erstwhile                  LT: Fund based – TL                -       -
Hopewell Tableware Pvt Ltd)
Dlf Home Developers Ltd                 Fund based-TL         ICRA A+      7090    outstanding
                                                              (Positive)
Govindbhawan -Karyalaya                 LT: Fund Based – TL   ICRA BB      65      Reaffirmed
                                                              (Stable)
Govindbhawan -Karyalaya                 LT: Fund Based – CC   ICRA BB      75      Reaffirmed
                                                              (Stable)
India Shelter Finance                   NCD Programme         ICRA A       2000    Assigned
Corporation Ltd                                               (Stable)
India Shelter Finance                   NCD Programme         ICRA A       1500    outstanding
Corporation Ltd                                               (Stable)
India Shelter Finance                   Fund Based – TL       ICRA A       5000    -
Corporation Ltd                                               (Stable)
Rated amount enhanced
L&T Chennai Tada Tollway Ltd            Fund based- TL        ICRA D       4750    -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Lucknow Sitapur Expressways Ltd         LT Fund- based        ICRA D       1420    -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Merittrac Services Pvt Ltd              FB - CC               ICRA BBB+    250     Reaffirmed
                                                              (Stable)
Merittrac Services Pvt Ltd              Non-fund based - BG   ICRA BBB+    -       Reaffirmed
                                        (sub-limit)           (Stable)
Mytrah Vayu (Indravati) Pvt Ltd         FB - TL               ICRA BB      9194    Downgraded
                                                                                   from ICRA
                                                                                   BBB- @
@Rating watch with negative implications removed and negative outlook assigned
Mytrah Vayu (Indravati) Pvt Ltd         FB – CC               ICRA BB      1000    Downgraded
                                                                                   from ICRA
                                                                                   BBB- @
@Rating watch with negative implications removed and negative outlook assigned
Mytrah Vayu (Indravati) Pvt Ltd         Unallocated           ICRA BB      1306    Downgraded
                                                                                   from ICRA
                                                                                   BBB- @
@Rating watch with negative implications removed and negative outlook assigned
Mytrah Vayu (Tungabhadra) Pvt           FB - TL               ICRA BB-     9835.4  Downgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
outlook remains Negative
Mytrah Vayu (Tungabhadra) Pvt           FB - Overdraft        ICRA BB-     430     Downgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
outlook remains Negative
Mytrah Vayu (Tungabhadra) Pvt           Unallocated           ICRA BB-     74.6    Downgraded
Ltd                                                                                from ICRA
                                                                                   BBB-
outlook remains Negative
Powered Epc Services Ltd                Fund based – Secured  ICRA B       20      Reaffirmed
                                        optionally            (Stable)
                                        convertible debenture
Security And Intelligence               TL                    ICRA         700     Assigned to
Services (India) Ltd                                          A+(Stable)           enhanced
                                                                                   amount
Security And Intelligence               FB Limits             ICRA         5550    Assigned to
Services (India) Ltd                                          A+(Stable)           enhanced
                                                                                   amount
Security And Intelligence               NCD                   ICRA         2500    outstanding
Services (India) Ltd                                          A+(Stable)
Shree Ramkrushna Ginning And            CC                    ICRA BB-     99      Reaffirmed
Oil Industries                                                (Stable)
Ssipl Lifestyle Pvt Ltd                 Fund based- Working   ICRA BBB     540     Downgraded
                                        Capital Fac           (Stable)             from ICRA A-
                                                                                   (Stable)
Ssipl Lifestyle Pvt Ltd                 Fund based- TL        ICRA BBB     277.6   Downgraded
                                                              (Stable)             from ICRA A-
                                                                                   (Stable)
Ssipl Lifestyle Pvt Ltd                 Non-FBL               ICRA BBB     80      Downgraded
                                                              (Stable)             from ICRA A-
                                                                                   (Stable)
Ssipl Retail Ltd                        Fund based- Working   ICRA BBB     1220    Downgraded
                                        Capital Fac           (Stable)             from ICRA A-
                                                                                   (Stable)
Ssipl Retail Ltd                        Fund based- TL        ICRA BBB     275.1   Downgraded
                                                              (Stable)             from ICRA A-
                                                                                   (Stable)
Ssipl Retail Ltd                        Non-FBL               ICRA BBB     120     Downgraded
                                                              (Stable)             from ICRA A-
                                                                                   (Stable)
Tdi International India (P)             Fund Based – TL       ICRA D       472     Withdrawn
Ltd.
Tdi International India (P)             Fund Based – Working  ICRA D       200     Withdrawn
Ltd.                                    Capital Fac
Tdi International India (P)             Non-fund Based –      ICRA D       690     Withdrawn
Ltd.                                    Working Capital Fac
Tdi International India (P)             Unallocated Limits    ICRA D       54.2    Withdrawn
Ltd.
Tps Infrastructure Ltd                  FB CC                 ICRA BB+     465     Withdrawn
                                                              (Stable)
Tps Infrastructure Ltd                  FB TL                 ICRA BB+     125     Withdrawn
                                                              (Stable)
Vena Energy Power Resources             FB - TL               ICRA BBB     8440    Downgraded
Pvt Ltd (Erstwhile Energon                                                         from ICRA A-
Power Resources Pvt Ltd)                                                           &
Rating watch with developing implications removed, and negative outlook assigned
Vena Energy Power Resources             FB - Working Capital  ICRA BBB     640     Downgraded
Pvt Ltd (Erstwhile Energon                                                         from ICRA A-
Power Resources Pvt Ltd)                                                           &
Rating watch with developing implications removed, and negative outlook assigned
--------------------------------------------------------------------------------------------
$: 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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