September 20, 2019 / 11:42 AM / a month ago

RPT-ICRA ratings for Indian debt instruments-Sep 20

 (Repeating to add more ratings)
   Sep 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 19, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Airona Tiles Ltd                        BG                    ICRA A4      22.7    -
Anuh Pharma Ltd                         ST, Non-FBL           ICRA A2+     700     Reaffirmed
Anuh Pharma Ltd                         ST, Interchangeable   ICRA A2+     -       Reaffirmed
                                        Limits^
^Sublimit of short-term, non-fund based limits of Rs. 70.00 crore
Brisk India Pvt Ltd                     ST – Non Fund Based   ICRA D       33.5    -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Brisk India Pvt Ltd                     ST – Fund Based       ICRA D       250     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Uneecops Technologies Ltd               ST Non-fund Based     ICRA A3;     234     Reaffirmed
Dempo Shipbuilding And                  ST - Interchangeable  -            -       Reaffirmed
Engineering Pvt Ltd
Deva Drill Tech (India) Ltd             Non-Fund Based -      ICRA A2      160     -
                                        Working Capital Fac
Hindustan Tin Works Ltd                 Non-FBL – LC/BG       ICRA A2      550     Reaffirmed
Hindustan Tin Works Ltd                 Unallocated           ICRA A2+     50      Reaffirmed
IDBI Bank Ltd                           Certificates of       ICRA A1:     350000  Outstanding
                                        Deposit Programme
Punjab National Bank                    Certificates of       ICRA A1+     600000  Outstanding
                                        Deposit
Ramee Hotels Pvt Ltd                    Non fund based BG     ICRA A4      25      -
(Rating moved to ‘Issuer Not Cooperating’ category)
Shrenik Marble Pvt Ltd -                Non-Fund based        ICRA A4      50      -
Shrenik Marble Pvt Ltd
Reason for delay in carrying out periodic review: - Issuer not cooperating


MEDIUM TERM RATINGS:
-------------------
Punjab National Bank                    Fixed Deposits        MAA %        -       Placed on
                                        Programme                                  rating Watch
                                                                                   with Positive
                                                                                   Implications
% Rating watch with Positive Implications 
Idbi Bank Ltd                           Fixed Deposits        MAA-         -       Outstanding
                                        Programme             (negative):

LONG TERM RATINGS:
-------------------
Aishwaryagiri Constructions             LT – CC               ICRA D       300     Downgraded
Pvt Ltd                                                                            from ICRA B+
(Continues under ‘Issuer Not Cooperating’ category)
Aishwaryagiri Constructions             Non-Fund Based        ICRA D       150     Downgraded
Pvt Ltd                                                                            from ICRA A4
(Continues under ‘Issuer Not Cooperating’ category)
Baba Jatadhari Agro (India)             FBLTL                 ICRA B       62.5    -
Pvt Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Baba Jatadhari Agro (India)             FBL - CC              ICRA B       24      -
Pvt Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Brainer Infra Llp                       FBLCC                 ICRA B+      150     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Brisk India Pvt Ltd                     LT, Fund based – TL   ICRA D       163.7   -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Brisk India Pvt Ltd                     LT, Fund based – CC   ICRA D       350     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Brisk India Pvt Ltd                     LT - Unallocated      ICRA D       102.8   -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Marc Laboratories Ltd                   Fund based            ICRA         134     Rating
                                                              BB+(Stable)          Downgraded
                                                                                   from ICRA
                                                                                   BBB-
(Continues under ‘Issuer Not Cooperating’ category)
Marc Laboratories Ltd                   Unallocated           ICRA         8.8     Rating
                                                              BB+(Stable)          Downgraded
                                                                                   from ICRA 
                                                                                   BBB-
(Continues under ‘Issuer Not Cooperating’ category)
Savfab Developers Pvt. Ltd              Fund Based - Working  ICRA D       350     Downgraded
                                        Capital                                    from ICRA C+
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Syndicate Bank                          Basel III Compliant   ICRA AA      32500   -
                                        Tier II Bonds         (hyb) &
                                        Programme
& Denotes under rating Watch with Developing Implications
Uneecops Technologies Ltd               LT FB CC              ICRA BBB-    180     Reaffirmed
                                                              (Stable);
Airona Tiles Ltd                        CC                    ICRA         94.7    -
                                                              BB-(Stable)
Airona Tiles Ltd                        TL                    ICRA         15      -
                                                              BB-(Stable)
Anuh Pharma Ltd                         LT, FB Limits         ICRA         50      Reaffirmed
                                                              BBB+(Stable)
Ascendum Solutions India Pvt            Fund Based – TL       ICRA BB      250     Reaffirmed
Ltd                                                           (Positive);
(outlook revised from ‘Stable’ to ‘Positive)
Ascendum Solutions India Pvt            Fund Based – Working  ICRA BB      50      Reaffirmed
Ltd                                     Capital Fac           (Positive);
(outlook revised from ‘Stable’ to ‘Positive)
Canara Bank                             Additional Tier-I     ICRA AA-     15000   -
                                        bonds programme –     (hyb) &
                                        Basel III
& Denotes under Rating Watch with Developing Implications
Canara Bank                             Basel III Compliant   ICRA AA+     79000   -
                                        Tier II Bonds         (hyb) &
                                        Programme
& Denotes under Rating Watch with Developing Implications
Central Bank Of India                   Upper Tier II bonds   ICRA A-      2850    Reaffirmed
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A-      5000    Reaffirmed
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A-      5000    Reaffirmed
                                        programme
Central Bank Of India                   Upper Tier II bonds   ICRA A-      10000   Reaffirmed
                                        programme
Central Bank Of India                   Lower Tier II bonds   ICRA         5000    Reaffirmed
                                        programme             A+(negative)
Daftari Agro Pvt Ltd                    LT, FBL – TL          ICRA B+      17.5    -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Daftari Agro Pvt Ltd                    LT, FBL – CC          ICRA B+      75      -
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Dempo Shipbuilding And                  LT - Fund Based/CC    ICRA D       30      Reaffirmed
Engineering Pvt Ltd
Dempo Shipbuilding And                  LT - Non Fund Based   ICRA D       150     Reaffirmed
Engineering Pvt Ltd
Deva Drill Tech (India) Ltd             Fund Based - TL       ICRA BBB+    19.5    -
                                                              (Stable)
Deva Drill Tech (India) Ltd             Fund Based - Working  ICRA BBB+    180     -
                                        Capital Fac           (Stable)/
                                                              ICRA A2
Ess Kay Fincorp Ltd -Rashford           PTC Series A1         ICRA A+(SO)  -       Withdrawn
CV IFMR Capital 2017
Ess Kay Fincorp Ltd -Shane CV           PTC Series A1         ICRA         -       Withdrawn
IFMR Capital 2017                                             BBB+(SO)
Hindustan Tin Works Ltd                 TL                    ICRA A-      374.4   Reaffirmed
Hindustan Tin Works Ltd                 FB Working Capital    ICRA A-      990     Reaffirmed
                                        Limits
Hindustan Tin Works Ltd                 Unallocated           ICRA A-      435.6   Reaffirmed
Idbi Bank Ltd                           Basel III Compliant   ICRA A(hyb)  50000   Outstanding
                                        Tier II Bonds         (negative)
Idbi Bank Ltd                           Infrastructure Bonds  ICRA         80000   Outstanding
                                                              A(negative):
Idbi Bank Ltd                           Flexi Bond Series     ICRA         2305    Outstanding
                                                              A(negative):
Idbi Bank Ltd                           Senior & Lower Tier   ICRA         257427.2Outstanding
                                        II (Subordinated      A(negative):
                                        Bonds)
Idbi Bank Ltd                           Subordinated Debt     ICRA         700     Outstanding
                                        Programme             A(negative):
Idbi Bank Ltd                           Upper Tier II Bonds   ICRA BBB+    42862   Outstanding
                                        Programme             (Negative)
Idbi Bank Ltd                           Basel II Compliant    ICRA BBB+    17088   Outstanding
                                        Perpetual Bonds       (Negative)
Indian Bank                             Basel II Compliant    ICRA AA+ &   5000    Placed on
                                        Lower Tier II Bonds                        rating Watch
                                        Programme                                  with 
                                                                                   Developing
                                                                                   Implications
& Under Rating Watch with Developing Implications
Itd Cementation India Ltd               LT (LT) Fund Based-TL ICRA A &     1000    -
placed under rating watch with developing implication
Itd Cementation India Ltd               LT (LT) Fund          ICRA A &     8000    -
                                        Based-Working Capital
placed under rating watch with developing implication
Itd Cementation India Ltd               LT/ST Non-FBL         ICRA A & /   40000   -
                                                              ICRA A1
placed under rating watch with developing implication
MAA Vaishno Edibles Pvt Ltd             Fund BasedCC          ICRA B       40      -
Reason for delay in carrying out periodic review: - Issuer not cooperating
MAA Vaishno Edibles Pvt Ltd             Fund BasedTL          ICRA B       19.5    -
Reason for delay in carrying out periodic review: - Issuer not cooperating
MAA Vaishno Edibles Pvt Ltd             Fund BasedUnallocated ICRA         12.7    -
                                                              B(Stable)
                                                              /A4
Reason for delay in carrying out periodic review: - Issuer not cooperating
MAC-Chem Products (India) Pvt           LT/ST – Unallocated   ICRA BB      109.5   -
Ltd - Mac-Chem                                                (Stable)/
Products(India) Pvt  Ltd                                      ICRA A4
Reason for delay in carrying out periodic review: - Issuer not cooperating
Mac-Chem Products (India) Pvt           LT – fund based - CC  ICRA BB      150     -
Ltd -Mac-Chem Products (India)                                (Stable)
Pvt Ltd
Reason for delay in carrying out periodic review: - Issuer not cooperating
Madura Micro Finance Ltd                PTC Series A          ICRA A(SO)   196.6   Final Rating
-Northern Arc 2019 MFI Thurston
OM Corrugated Pack Pvt Ltd              Unallocated Limits    ICRA B+      27      Rating
                                                              (Stable) /           Continues to
                                                              ICRA A4              remain
                                                                                   under the 
                                                                                   Issuer Not
                                                                                   Cooperating
                                                                                   category
OM Corrugated Pack Pvt Ltd              FBLCC                 ICRA         40      Rating
                                                              B+(Stable)           Continues to
                                                                                   under the 
                                                                                   Issuer Not
                                                                                   Cooperating
                                                                                   category
OM Corrugated Pack Pvt Ltd              FBL - TL              ICRA         26.5    Rating
                                                              B+(Stable)           Continues to
                                                                                   under the 
                                                                                   Issuer Not
                                                                                   Cooperating
                                                                                   category
Oriental Bank Of Commerce               Basel II Compliant    ICRA A+ %    12000   Placed on
                                        Lower Tier II Bonds                        rating Watch
                                        Programme                                  with
                                                                                   Positive
                                                                                   Implications
% Denotes under rating Watch with Positive Implications
Oriental Bank Of Commerce               Basel III Compliant   ICRA A+      30000   Placed on
                                        Tier II Bonds         (hyb) %              rating Watch
                                        Programme                                  with 
                                                                                   Positive
                                                                                   Implications
% Denotes under rating Watch with Positive Implications
Punjab National Bank                    Infrastructure Bonds  ICRA AA- %   30000   Placed on
                                                                                   rating Watch
                                                                                   with
                                                                                   Positive
                                                                                   Implications
% Rating watch with Positive Implications
Punjab National Bank                    Basel III Compliant   ICRA AA-     10000   Placed on
                                        Tier II Bonds         (hyb) %              rating Watch
                                                                                   with 
                                                                                   Positive
                                                                                   Implications
% Rating watch with Positive Implications
Puranmal Phoola Devi Memorial           LT Fund based - TL    ICRA BB      100     -
Trust - Puranmal Phoola Devi
Memorial Trust
(Issuer did not cooperate; based on the best available information)
Ramee Hotels Pvt Ltd                    Fund based-Overdraft  ICRA B+      100     -
                                                              (Stable)
Rating downgraded from ICRA BB- (Stable) moved to the ‘Issuer Not Cooperating’ category
Ramee Hotels Pvt Ltd                    Fund based-TL         ICRA B+      485     -
                                                              (Stable)
Rating downgraded from ICRA BB- (Stable) moved to the ‘Issuer Not Cooperating’ category
Ramee Hotels Pvt Ltd                    Unallocated Limits    ICRA B+      2.5     -
                                                              (Stable) /
                                                              ICRA A4
Downgraded from ICRA BB- (Stable)/A4; Rating moved to the ‘Issuer Not Cooperating’ category
Royal Motors Gwalior Pvt Ltd            FB CC                 ICRA         50      Reaffirmed
                                                              B+(Stable)
Removed from non-cooperation category
SAP Energy                              FB – TL               ICRA BB      90      -
                                                              (Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
SAP Energy                              Unallocated           ICRA BB      2.5     -
                                                              (Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
SH Infratech Pvt Ltd                    Non Fund Based- BG    ICRA D       200     -
Issuer did not cooperate; based on the best available information
SH Infratech Pvt Ltd                    LT Fund Based -CC     ICRA D       10      -
                                        Limit
Issuer did not cooperate; based on the best available information
Shrenik Marble Pvt Ltd -                FB – Working Capital  ICRA B+      46      -
Shrenik Marble Pvt Ltd                                        (Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
Standard Chartered Bank Ltd-            Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
Mortgage Loan Pool August 2008 [MLP Aug08]
Standard Chartered Bank Ltd             Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
-Mortgage Loan Pool March 2008 [MLP Mar-08]
Standard Chartered Bank Ltd             Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
-Mortgage Loan Pool March 2007- III [Mlp Mar-07 III]
Standard Chartered Bank                 Purchaser Payouts     ICRA AAA(SO) -       Reaffirmed
Ltd-Mortgage Loan Pool June 2008 [MLP Jun-08]
Titagarh Firema S.P.A                   TL                    ICRA BBB-    500     Assigned
                                                              (Stable)
Titagarh Firema S.P.A                   Fund Based/Non-FB Fac ICRA BBB-    500     Assigned
                                                              (Stable) /
                                                              A3
--------------------------------------------------------------------------------------------
$: 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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