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RPT-ICRA ratings for Indian debt instruments-Sep 22
September 22, 2017 / 9:53 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Sep 22

 (Repeating to add additional ratings as of September 21, 2017)
    Sep 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 21, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Archit Organosys Ltd                    NFBL                  ICRA A4      12.75   Reaffirmed
Ashok Alco-Chem Ltd                     ST FBL                ICRA A4+     2.2     Reaffirmed
Ashok Alco-Chem Ltd                     ST Non-FBL            ICRA A4+     95      Reaffirmed
Beml Ltd                                Non- FB Fac           ICRA A1+     5500    Reaffirmed
Cascade Systems And                     ST –Non-FB Fac        ICRA A4      10      Withdrawn
Communication Pvt Ltd
Esquire Machines Pvt Ltd                NFBL                  ICRA A4      20      Reaffirmed
Haji Alimohamed Moosa & Co.             NFBL                  ICRA A4      5       Reaffirmed
Indostar Capital Finance Ltd            ST Debt Programme     ICRA A1+     12500   Reaffirmed
                                        (including CP)
Jet Airways (India) Ltd                 ST, non-fund based    ICRA A3      39500   Reaffirmed
Jia Auto Sales Pvt Ltd                  NFBL                  ICRA A4      55      Reaffirmed
(Issuer not Cooperating)
Kap Cones Pvt Ltd                       NFBL                  ICRA A4+     40      -
Reason for delay in carrying out periodic review. - Review process is underway
Kirloskar Ferrous Industries            CP                    ICRA A1+     1000    Reaffirmed
Ltd
Pragati Transmission Pvt Ltd            ST Non-fund based Fac ICRA A4      5       -
(Issuer not Cooperating)
Shree Sai Baba Ship Breaking            ST non fund based     ICRA A4      1200    Reaffirmed
Company
Shri Laxminarayan Chemicals             ST – Unallocated      ICRA A4      20      -
And Fertilizers Pvt Ltd
(Issuer not Cooperating)
Srinivasa Sales And Service             Non FB – BG           ICRA A4      63      Reaffirmed
Pvt. Ltd
Thakar Chemicals Ltd                    Non-FBL               ICRA A4      10      Reaffirmed
Kalis Sparkling Water (Pvt) Ltd         ST: Non-FB Fac        ICRA A3              Withdrawn
Torrent Pharmaceuticals Ltd             CP/STD                ICRA A1+     5600    Assigned
Enhanced from 60 CR

MEDIUM TERM RATINGS:
-------------------
Bilcare Ltd                             FD                    MC           1250    -
(Issuer not Cooperating)

LONG TERM RATINGS:
-------------------
Anondita Healthcareltd                  LT FBL                ICRA B       120     -
Reason for delay in carrying out periodic review. - Review process is underway
Archit Organosys Ltd                    FBL                   ICRA B+      376.3   Reaffirmed
Ashok Alco-Chem Ltd                     LT FBL                ICRA BB+     150     Reaffirmed
Ashok Alco-Chem Ltd                     Un-allocated limits   ICRA BB+     12.8    Reaffirmed
                                                              /ICRA A4+
Asolution Pharmaceuticals Pvt           Bk Fac                ICRA D       310     -
Ltd
(Issuer not Cooperating)
Beml Ltd                                FB Fac                ICRA A+      10000   Reaffirmed
Beml Ltd                                Non- FB Fac           ICRA A+      12000   Reaffirmed
Beml Ltd                                NCD                   ICRA A+      3000    Reaffirmed
Cascade Systems And                     LT –FB CC             ICRA B-      50      Withdrawn
Communication Pvt Ltd
Darwin Pharma Pvt Ltd                   Unallocated           ICRA B       100     -
(Issuer not Cooperating)
Door Sanchar Hydro Power Pvt            TL                    ICRA D       241.5   -
Ltd
(Issuer not Cooperating)
Door Sanchar Hydro Power Pvt            Unallocated Limits    ICRA D       1.8     -
Ltd
(Issuer not Cooperating)
Esquire Machines Pvt Ltd                FBL                   ICRA B+      65      Revised from
                                                                                         BB-
Esquire Machines Pvt Ltd                Unallocated Limits    ICRA B+ /    4.5     Reaffirmed
                                                              ICRA A4
Ess Kay Fincorp Pvt. Ltd.               PTC Series A2         ICRA BBB(SO) 11.7    -
Gks Business Associates Pvt Ltd         LT – FB Fac           ICRA BB-     410     Reaffirmed
Gks Business Associates Pvt Ltd         LT – Non-FBL          ICRA BB-     5       Reaffirmed
Haji Alimohamed Moosa & Co.             FBL                   ICRA B+      129.6   Reaffirmed
Haji Alimohamed Moosa & Co.             Unallocated Limits    ICRA B+ /    1.4     Reaffirmed
                                                              ICRA A4
Jet Airways (India) Ltd                 Long-TL               ICRA BBB-    35747   Reaffirmed
Jet Airways (India) Ltd                 LT, FB Fac            ICRA BBB-    6450    Reaffirmed
Jet Airways (India) Ltd                 LT, non-FB Fac        ICRA BBB-    6000    Reaffirmed
Jet Airways (India) Ltd                 NCD programme         ICRA BBB-    6989    Reaffirmed
Jia Auto Sales Pvt Ltd                  FB-limit-cash-credit  ICRA C       170     Reaffirmed
                                        facility
(Issuer not Cooperating)
Jia Auto Sales Pvt Ltd                  FB-limit-term-loans   ICRA C       95      Reaffirmed
(Issuer not Cooperating)
Kap Cones Pvt Ltd                       FB                    ICRA BB+     85      -
Reason for delay in carrying out periodic review.
- Review process is underway
Kap Cones Pvt Ltd                       TL                    ICRA BB+     120     -
Reason for delay in carrying out periodic review. - Review process is underway
Kirloskar Ferrous Industries            Unallocated           ICRA AA-     110     Reaffirmed
Ltd
Kirloskar Ferrous Industries            FB Bk Fac             ICRA AA- /   4550    Reaffirmed
Ltd                                                           ICRA A1+
Kirloskar Ferrous Industries            Non-fund Based Bk Fac ICRA AA- /   6900    Reaffirmed
Ltd                                                           ICRA A1+
Lakhotia Transport Company Pvt          FB- CC                ICRA BB+     360     Reaffirmed
Ltd
(increased from Rs. 33 crore)
Nambiar Builders Pvt Ltd                BLR                   ICRA BBB-    750     -
Reason for delay in carrying out periodic review. - Review process is underway
Panchshil Tech Park Pvt Ltd             TL (Lease Rental      ICRA BBB+    2750    Reaffirmed
                                        Discounting)
Partap Industries Ltd                   LT fund based         ICRA A-      360     Assigned
Partap Industries Ltd                   LT/ST non fund based  ICRA A- /    40      Assigned
                                                              ICRA A2+
Pashupati Traders                       FB-limit-cash-credit  ICRA B+      97.4    -
                                        facility
(Issuer not Cooperating)
Pashupati Traders                       FB-limit-term-loan    ICRA B+      8.5     -
(Issuer not Cooperating)
Pashupati Traders                       Unallocated limit     ICRA B+ /    4.1     -
                                                              ICRA A4
(Issuer not Cooperating)
Pmp Auto Components Pvt Ltd             PMP Auto Components   ICRA BBB /A2 1835.5  -
                                        Private Limited
Reason for delay in carrying out periodic review-Issuer delayed in giving information
Pragati Transmission Pvt Ltd            LT FB Fac             ICRA B+      45      -
(Issuer not Cooperating)
Pratibha Constructions                  Bk Loan Rating        ICRA C++ /A4 1150    -
Engineers & Contractors
(India) Pvt Ltd
(Issuer not Cooperating)
Samunnati Financial                     NCD                   ICRA BB+     350     Assigned
Intermediation Services Pvt Ltd
Samunnati Financial                     Market linked         PP-MLD ICRA  120     Assigned
Intermediation Services Pvt Ltd         Debentures            BB+
Shikarpur & Bhandapur Tea               Fund Based – Tea      ICRA B-      50.6    Reaffirmed
Estates Pvt Ltd                         Hypothecation
Limits
Shikarpur & Bhandapur Tea               Fund Based – TL       ICRA B-      21.7    Reaffirmed
Estates Pvt Ltd
Shikarpur & Bhandapur Tea               Non-fund based – BG   ICRA B-      2.5     Reaffirmed
Estates Pvt Ltd
Shree Krishna Rice Mills                LT FB                 ICRA B-      150     Reaffirmed
(Issuer not Cooperating)
Shri Laxminarayan Chemicals             LT – Fundbased        ICRA B-      50      -
And Fertilizers Pvt Ltd
(Issuer not Cooperating)
Sri Dakshinamurthy Agro                 FB – CC               ICRA B       120     Reaffirmed
Industries Pvt Ltd
Sri Dakshinamurthy Agro                 FB – TL               ICRA B       300     Reaffirmed
Industries Pvt Ltd
Srinivasa Sales And Service             FB – CC               ICRA BB-     97      Reaffirmed
Pvt. Ltd
(revised from Rs. 9.00 crore)
Srinivasa Sales And Service             FB – TL               ICRA BB-     75      Reaffirmed
Pvt. Ltd
Srinivasa Sales And Service             Unallocated           ICRA BB- /A4 16.1    Reaffirmed
Pvt. Ltd
(revised from Rs. 0.31 crore)
Sudarshan Jeans Pvt Ltd                 LT FB                 ICRA A-      1915    Assigned
Sudarshan Jeans Pvt Ltd                 LT/ST non-fund based  ICRA A- /    35      Assigned
                                                              ICRA A2+
Tata Motors Finance Ltd                 PTCs                  ICRA AAA(SO) 1553.8  Reaffirmed
Tata Motors Finance Ltd                 Second Loss Facility  ICRA BBB(SO) 187.6   Reaffirmed
Thakar Chemicals Ltd                    FB Limits –CC         ICRA BB-     150     Reaffirmed
Veerabhadra Exports Pvt Ltd             FB – EPC              ICRA BB-     400     Upgraded
                                                                                   from ICRA B+
Veerabhadra Exports Pvt Ltd             FB – TL               ICRA BB-     140.4   Upgraded
                                                                                   from ICRA B+
Veerabhadra Exports Pvt Ltd             Non FB                ICRA BB-     60      Upgraded
                                                                                   from ICRA B+
Veerabhadra Exports Pvt Ltd             Unallocated Limits    ICRA BB-     49.6    Upgraded
                                                                                   from ICRA B+
Vikas Cotton Ginning & Pressing         FBL                   ICRA B+      120     Reaffirmed
Vikas Cotton Ginning & Pressing         Unallocated limits    ICRA B+      51      Reaffirmed
(enhanced from 4.00 CR)
Kalis Sparkling Water (Pvt) Ltd         LT: TL                ICRA BBB-    560.8   Assigned /
                                                                                   outstanding
Enhanced from 14.12 CR
Kalis Sparkling Water (Pvt) Ltd         LT: FB Fac            ICRA BBB-    50      Assigned /
                                                                                   outstanding
Enhanced from 2 CR
Kalis Sparkling Water (Pvt) Ltd         LT, Proposed Fac      ICRA BBB-            Assigned /
                                                                                   outstanding
Premier Alloys And Chemicals            FB                    ICRA BBB     160     Upgraded
Pvt Ltd                                                                            from
                                                                                         BBB-
Premier Alloys And Chemicals            Unallocated           ICRA BBB     180     Upgraded
Pvt Ltd                                                                            from
                                                                                         BBB-

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