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RPT-ICRA ratings for Indian debt instruments-Sep 25
September 25, 2017 / 10:46 AM / in a month

RPT-ICRA ratings for Indian debt instruments-Sep 25

 (Repeating add more ratings.)
   Sep 25 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 22, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Balmer Lawrie & Co. Ltd                 FB Limits             ICRA A1+             Reaffirmed
Galaxy Concab (India) Pvt Ltd           ST Non fund based     ICRA A4      150
Issuer not cooperating
Housing Development Finance             ST debt programme     ICRA A1+     750000  Reaffirmed
Corporation Ltd
Idfc Ltd                                CP Programme          ICRA A1+     15000   Reaffirmed
Ivax Paper Chemicals Ltd                ST FB                 ICRA A3+     20      ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
Ivax Paper Chemicals Ltd                ST non-fund based     ICRA A3+     195     ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
Ivax Paper Chemicals Ltd                ST (sublimit          ICRA A3+     180     ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
J.M. Financial & Investment             CP programme (IPO     ICRA A1+     8000    Assigned
Consultancy Services Pvt Limit          Financing)
J.M. Financial & Investment             CP programme          ICRA A1+     2000    Outstanding
Consultancy Services Pvt Limit
Ptc India Financial Services            CP Programme          ICRA A1+     15000   Assigned
Ltd
Sandhar Technologies Ltd                Non-FB Fac            ICRA A1      300     Reaffirmed
Sri Rama Spin Cot                       Non fund based – BG   ICRA A4      0.3
Issuer delayed in giving information
Transport Corporation Of India          CP                    ICRA A1+     2000    Reaffirmed
Ltd
Kurlon Enterprise Ltd                   NFBF                  ICRA A1      150     Reaffirmed
(revised from 25.0 CR)
Mj Castings Ltd                         Derivative Facility   ICRA A2      15      Re-assigned
                                        (ST non-fund based)                        from ICRA
                                                                                   A1(SO)

Standard Retail Pvt Ltd                 ST non-FBL            ICRA A3+     4150    Reaffirmed
Suguna Foods Pvt Ltd                    ST - Non-FB Fac       ICRA A2      180     Reaffirmed
                                        (sub-limit)
Tata Sons Ltd                           CP                    ICRA A1+     26250   Reaffirmed
Viyyat Power Pvt Ltd                    LT – TL               ICRA A3      44.2    -
(Issuer not cooperating)
Viyyat Power Pvt Ltd                    ST – BG               ICRA A3      1.5     -
(Issuer not cooperating)
Wonderla Holidays Ltd                   ST- Non Fund based    ICRA A1+     150     Assigned
Yamuna Machine Works Ltd                Short- term FBL       ICRA A4      30      -
(Issuer not cooperating)
Yamuna Machine Works Ltd                ST, Non-FBL           ICRA A4      15      -
(Issuer not cooperating)
   
    
MEDIUM TERM RATINGS:
-------------------
Housing Development Finance             Fixed Deposit         MAAA                 Reaffirmed
Corporation Ltd                         programme

LONG TERM RATINGS:
-------------------
Assam Timber Products Pvt Ltd           Bk Fac                ICRA B+ /    140
                                                              ICRA A4
Issuer not cooperating
Balmer Lawrie & Co. Ltd                 CC Limit              ICRA AA+     500     Reaffirmed
Balmer Lawrie & Co. Ltd                 Non-FBL               ICRA AA+     1300    Reaffirmed
Brijnandan Industries Pvt Ltd           Bk Fac                ICRA BB      120
Issuer not cooperating
Galaxy Concab (India) Pvt Ltd           LT Fund based         ICRA B       100
Issuer not cooperating
Galaxy Concab (India) Pvt Ltd           LT: Unallocated       ICRA B       10
Issuer not cooperating
Galaxy Concab (India) Pvt Ltd           Longterm/Shortterm    ICRA B/ICRA  60
                                        Fund based            A4
Issuer not cooperating
Gmr Aero Technic Ltd                    CC                    ICRA B+      275     Reaffirmed
H N Construction Pvt Ltd                Bk Fac                ICRA BB+     100
Issuer not cooperating
Housing Development Finance             NCDs programme        ICRA AAA     350000  Reaffirmed
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     1228392 Reaffirmed
Corporation Ltd
Housing Development Finance             Subordinated debt     ICRA AAA     55000   Reaffirmed
Corporation Ltd                         programme
Housing Development Finance             Issuer Rating         ICRA AAA             Reaffirmed
Corporation Ltd
Housing Development Finance             Bk Lines              ICRA AAA     350000  Reaffirmed
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     425375  Reaffirmed
Corporation Ltd
Housing Development Finance             NCDs programme        ICRA AAA     50000   Reaffirmed
Corporation Ltd
Housing Development Finance             Subordinated debt     ICRA AAA     4750    Reaffirmed
Corporation Ltd                         programme
Ivax Paper Chemicals Ltd                TL                    ICRA BBB     100     ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
Ivax Paper Chemicals Ltd                LT FB                 ICRA BBB     150     ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
Jonna Steels                            FBL                   ICRA B+      140
Issuer delayed in giving information
Kkv Agro Powers Ltd                     Longterm, Term -Loans ICRA BBB -   70      Reaffirmed
M K Roy & Bros Projects Pvt Ltd         Bk Fac                ICRA B+ /    100
                                                              ICRA A4
Issuer not cooperating
Mahima Cold Storage Pvt Ltd             Bk Fac                ICRA B+ /    100
                                                              ICRA A4
Murli Cold Storage Pvt Ltd              Bk Fac                ICRA B+      100
Issuer not cooperating
Ptc India Financial Services            NCDs Programme        ICRA A+      5000    Outstanding
Ltd
Ptc India Financial Services            FBL                   ICRA A+      13000   Outstanding
Ltd                                                           /ICRA A1+
Ptc India Financial Services            Unallocated Limits    ICRA A+      1250    Outstanding
Ltd                                                           /ICRA A1+
S&T Mining Company Pvt Ltd              FB Limits – TL        ICRA BBB+    1905    ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
S&T Mining Company Pvt Ltd              FB Limits – CC        ICRA BBB+    45      ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
S&T Mining Company Pvt Ltd              Non-FBL – BG          ICRA BBB+    50      ISSUER NOT
                                                                                   COOPERATING*
* Issuer did not co-operate; based on best available information
Sandhar Technologies Ltd                FB Fac                ICRA A+      200     Reaffirmed
Sandhar Technologies Ltd                Unallocated Limits    ICRA A+      50      Reaffirmed
Sandhar Technologies Ltd                Fund Based and Non-FB ICRA A+      250     Reaffirmed
                                        Fac                   /ICRA A1
Shorapur Solar Power Ltd                Unallocated           ICRA BB+     450     Assigned
Sri Rama Spin Cot                       Fund based – CC       ICRA B       89
Issuer delayed in giving information
Sri Rama Spin Cot                       Fund based – TL       ICRA B       13.7
Issuer delayed in giving information
Sri Rama Spin Cot                       Unallocated limits    ICRA B       0.4
Issuer delayed in giving information
Alvas Education Foundation              LT TL                 ICRA B+      2000    -
(Issuer not cooperating)
Andhra Pradesh Expressway Ltd           NCD                   ICRA AAA     265.8   Reaffirmed
                                                              (SO)
(reduced from Rs. 377.6)
Bydesign India Pvt Ltd                  LT – Non-fund Based   ICRA BB+     200     Downgraded
                                                                                   from ICRA
                                                                                   BBB-
Bydesign India Pvt Ltd                  Long ICRA BB+ -term   ICRA BB+     7.5     Downgraded
                                        – FB CC                                    from ICRA
                                                                                   BBB-
Deepthy Fenishers                       LT – FB Fac           ICRA B       50      Assigned
(Issuer not cooperating)
Deepthy Fenishers                       LT – FB Fac           ICRA B       50      Assigned
(Issuer not cooperating)
Indraprastha Gas Ltd                    LT Limits-Unallocated              -       -
(reduced from Rs 400.00 crore earlier)
Indraprastha Gas Ltd                    LT/ST LimitsNon Fund               14344.4 -
                                        Based
(enhanced from 330.00 earlier)
Indraprastha Gas Ltd                    LT/ST                              25655.6 -
                                        LimitsUnallocated
(reduced from Rs 2870.00 earlier)
Jaigo Agro                              LT CC                 ICRA B+      100     Assigned
(Issuer not cooperating)
Kamarajar Port Ltd                      NCD                   ICRA AA      5000    -
Reason for delay in carrying out periodic review – Review process underway
Kurlon Enterprise Ltd                   FBF                   ICRA A+      250     Upgraded
                                                                                   from ICRA A
(revised from 40.0 CR)
Kurlon Enterprise Ltd                   Unallocated           ICRA A+ /    250     Upgraded
                                                              ICRA A1              from ICRA A
                                                                                   / ICRA A1
Kurlon Ltd                              FBF                   ICRA A       200     Upgraded
                                                                                   from ICRA A-
Mayajaal Entertainment Ltd              LT – TL               ICRA C+      250     -
(Issuer not cooperating)
Mj Castings Ltd                         TL                    ICRA BBB +   259.7   Re-assigned
                                                                                   
from ICRA
                                                                                   A+ (SO)
(revised from 31.17)
Mj Castings Ltd                         CC / LOC / Bill       ICRA BBB+ /  150     Reassigned
                                        discounting           ICRA A2              from ICRA A+
                                                                                   (SO) /
ICRA A1 (SO)
Mj Castings Ltd                         LT and ST unallocated ICRA BBB+ /  288     Upgraded f
                                                              ICRA A2              rom ICRA
                                                                                   BBB-
 /ICRA A3
(revised from 32.33)
Ongc Petro Additions Ltd                Compulsorily          ICRA AAA(SO) 72860   Reaffirmed
                                        Convertible Debenture
Ram Kripal Singh Construction           FBL-CC                ICRA A-      400**   Reaffirmed
Pvt Ltd
** Interchangeability between fund based and non–fund based limits to the extent of Rs. 20
crores
Ram Kripal Singh Construction           Non-FBL-BG            ICRA A-      4600    Reaffirmed
Pvt Ltd
Rotodyne Engineering Services           BLR                   ICRA B+ /A4  250     -
Pvt Ltd
(Issuer not cooperating)
Spandana Sphoorty Financial Ltd         PTC Series A1         ICRA A+(SO)  248.3   Assigned
Spandana Sphoorty Financial Ltd         PTC Series A2         ICRA BBB(SO) 21.9    Assigned
Sree Chaitanya Corporation Pvt          LT UnallocatedLimits  ICRA D       80      -
Ltd
(Issuer not cooperating)
Sree Venkateswara Motors                BLR                   ICRA B+ /A4  110     -
(India) Pvt Ltd
(Issuer not cooperating)
Ss Corporates Securities Ltd            LT / ST Fund based /  ICRA BB /    600     Reaffirmed
                                        Non-fund based Bk     ICRA A4+
                                        Lines
Standard Retail Pvt Ltd                 FBL                   ICRA BBB     100     Reaffirmed
Suguna Foods Pvt Ltd                    LT-TL Fac             ICRA BBB+    2888    Reaffirmed
revised from 352.67
Suguna Foods Pvt Ltd                    LT - FB Fac           ICRA BBB+    9800    Reaffirmed
revised from 925.00
Suguna Foods Pvt Ltd                    LT/ST - Proposed Fac  ICRA BBB+ /  88.7    Reaffirmed
                                                              ICRA A2
(Earlier nil)
Talwalkars Better Value                 NCD programme         ICRA AA-     125     Assigned
Fitness Ltd
Talwalkars Better Value                 LT-TL                 ICRA AA-     2980.7  Outstanding
Fitness Ltd
Talwalkars Better Value                 NCD programme         ICRA AA-     2250    Outstanding
Fitness Ltd
Tata Sons Ltd                           NCD                   ICRA AAA     227450  Reaffirmed
Viyyat Power Pvt Ltd                    LT – CC               ICRA BBB-    5       -
(Issuer not cooperating)
Wonderla Holidays Ltd                   TL                    ICRA AA-     800     Reaffirmed
Wonderla Holidays Ltd                   LT- Fund based        ICRA AA-     100     Reaffirmed
(enhanced from 6.00)
Yamuna Machine Works Ltd                LT, FBL               ICRA B+      65      -
(Issuer not cooperating)
Yamuna Machine Works Ltd                Long-TL               ICRA B+      24.1    -
(Issuer not cooperating)
    
    
--------------------------------------------------------------------------------------------
$: 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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