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RPT-ICRA ratings for Indian debt instruments-Sep 26
September 26, 2017 / 11:58 AM / 23 days ago

RPT-ICRA ratings for Indian debt instruments-Sep 26

 (Repeating to add more ratings.)
    Sep 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 25, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Art & Crafts Inc.                       ST Fundbased          ICRA A4      145     -
(Issuer not cooperating)
Capital Steel Corporation               LOC                   ICRA A4      550     -
(Issuer not cooperating)
Capital Steel Corporation               Credit Exposure Limit ICRA A4      11      -
 (Issuer not cooperating)
Chamunda Electricals (P) Ltd            Non Fund Based– BG    ICRA A4      75      Withdrawn
Ginni Gold Pvt Ltd                      ST Non-FBL            ICRA D       150*    -
(Issuer not cooperating) *Sublimit of Rs. 90.0 crore fund based limits rated on long term scale.
Gargo Traders, B.M. Garg &              Non FB – BG           ICRA A4      80      -
Others (J.V.)
(Issuer not cooperating)
Hanuman Rice Mills                      ST FBL                ICRA A4      50      Reaffirmed
(Issuer not cooperating)
Hsil Ltd                                CP                    ICRA A1+     500     Assigned
Madhava Hytech Infrastructures          Non FB – BG           ICRA A4      100     -
(India) Pvt Ltd
(Issuer not cooperating)
Madhucon Granites Ltd                   ST-FBL                ICRA A4+     425.7   Assigned
Madhucon Granites Ltd                   ST-Non FBL            ICRA A4+     91      Assigned
Maris Spinners Ltd                      FBL                   ICRA A4      45      Withdrawn
Maris Spinners Ltd                      NFBL                  ICRA A4      55      Withdrawn
Power Finance Corporation Ltd           ST borrowing          ICRA A1+     200000  Assigned /
                                        programme FY2018                           Outstanding
Rajasthan Tube Manufacturing            NFB                   ICRA A4      122.5   Reaffirmed
Co. Ltd
Sahaj Solar Pvt Ltd                     BG                    ICRA A4      23      -
(Issuer not cooperating)
Sportking India Ltd                     ST Non-fund based Bk  ICRA A2      756.1   -
                                        Fac
Sundaram Bnp Paribas Home               CP                    ICRA A1+     10000   Assigned
Finance Ltd
Zuari Agro Chemicals Ltd                ST unallocated        -            -
(reduced from Rs. 100 crore earlier)
Zuari Agro Chemicals Ltd                ST non-FBL            ICRA A2+     27500
(increased from Rs. 2600 crore earlier)
Altico Capital India Pvt Ltd            CP                    ICRA A1+    2500    Assigned
Mahindra Asset Management               Mahindra Alp Samay    ICRA A1+mfs -       Assigned
Company Pvt Ltd                         Bachat Yojana
Mahindra Asset Management               Mahindra Liquid Fund  ICRA A1+mfs -       Assigned
Company Pvt Ltd
    
MEDIUM TERM RATINGS:
-------------------

Sundaram Bnp Paribas Home               FD                    MAA+         -       Outstanding
Finance Ltd


LONG TERM RATINGS:
-------------------
Annadata Rice Mill                      FB CC                 ICRA BB      50      -
(Issuer not cooperating)
Annadata Rice Mill                      Unallocated           ICRA BB /    50      -
                                                              ICRA A4
(Issuer not cooperating)
Arnav Technosoft Pvt Ltd                TL                    ICRA D       150     -
(Issuer not cooperating)
Art & Crafts Inc.                       LT Fundbased – TL     ICRA BB      75      -
(Issuer not cooperating)
Au Small Finance Bank Ltd               PTC Series A          ICRA AA(SO)  981.4   Reaffirmed
(Indian Standard Loan Trust
Xxix)
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA(SO) 9.8     Reaffirmed
(Indian Standard Loan Trust
Xxix)
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB(SO) 36.8    Reaffirmed
(Indian Standard Loan Trust
Xxix)
Au Small Finance Bank Ltd               PTC Series A          ICRA AA(SO)  999.1   Reaffirmed
(Indian Standard Loan Trust
Xxviii)
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA(SO) 10      Reaffirmed
(Indian Standard Loan Trust
Xxviii)
Au Small Finance Bank Ltd               PTC Series A          ICRA BBB(SO) 47.5    Reaffirmed
(Indian Standard Loan Trust
Xxviii)
Au Small Finance Bank Ltd               Second Loss Facility  ICRA AAA(SO) 81.4    Reaffirmed
(Indian
Standard
Loan
Trust
Xxx )
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA(SO) 12.5    Reaffirmed
(Indian
Standard
Loan
Trust
Xxx )
Au Small Finance Bank Ltd               PTC Series A          ICRA BBB(SO) 1251.9  Reaffirmed
(Indian
Standard
Loan
Trust
Xxx )
Au Small Finance Bank Ltd               PTC Series A          ICRA AA(SO)  895.2   Reaffirmed
(Indian
Standard
Loan
Trust
Xxxiii )
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA(SO) 9       Reaffirmed
(Indian
Standard
Loan
Trust
Xxxiii )
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB(SO) 44.7    Reaffirmed
(Indian
Standard
Loan
Trust
Xxxiii )
Au Small Finance Bank Ltd               PTC Series A          ICRA AA+(SO) 910     Reaffirmed
(Indian
Standard
Loan
Trust
Xxxv )
Au Small Finance Bank Ltd               Liquidity Facility    ICRA AAA(SO) 9.1     Reaffirmed
(Indian
Standard
Loan
Trust
Xxxv )
Au Small Finance Bank Ltd               Second Loss Facility  ICRA BBB(SO) 54.6    Reaffirmed
(Indian
Standard
Loan
Trust
Xxxv )
Capital Steel Corporation               CC                    ICRA B+      70      -
(Issuer not cooperating)
Chamunda Electricals (P) Ltd            Fund Based – CC       ICRA B+      10      Withdrawn
Dindayal Jalan Textiles Ltd             LT FBL                ICRA BB-     140     -
(Issuer not cooperating)
Embaby General Finance India            LTBL                  ICRA BB+     200     Reaffirmed
Pvt Ltd
Ginni Gold Pvt Ltd                      LT FBL                ICRA D       900     -
(Issuer not cooperating)

Hanuman Rice Mills                      LT FBL                ICRA B       100     Reaffirmed
(Issuer not cooperating)
Higher Education Financing              Issuer Rating         ICRA AA-     -       Assigned
Agency
Indiabulls Housing Finance Ltd          PTC Series A          ICRA AAA(SO) 6096.9  Assigned
Jade Blue Lifestyle India Ltd           CCL                   ICRA BBB+    580     Withdrawn
Jade Blue Lifestyle India Ltd           SLC                   ICRA BBB+    70      Withdrawn
Jade Blue Lifestyle India Ltd           TL                    ICRA BBB+    111.8   Withdrawn
Jade Blue Lifestyle India Ltd           Unallocated Limits    ICRA BBB+    31.4    Withdrawn
Jain Vinimay Pvt Ltd                    Bk Fac                ICRA B- /    70      -
                                                              ICRA A4
(Issuer not cooperating)
Krishna Natural Fibre Pvt Ltd           CC                    ICRA B       89      -
(Issuer not cooperating)
Krishna Natural Fibre Pvt Ltd           TL                    ICRA B       10.5    -
(Issuer not cooperating)
Madhava Hytech Infrastructures          FB – CC               ICRA B       40      -
(India) Pvt Ltd
(Issuer not cooperating)
Madhava Hytech Infrastructures          Unallocated Limits    ICRA B /     500     -
(India) Pvt Ltd                                               ICRA A4
(Issuer not cooperating)
Madhucon Granites Ltd                   LT-TL                 ICRA BB+     820.6   Assigned
Maris Spinners Ltd                      CC                    ICRA BB-     265     Withdrawn
Maris Spinners Ltd                      TL                    ICRA BB-     167.7   Withdrawn
Niit Institute Of Information           FB Bk Fac: TL         ICRA BBB-    1800    Reaffirmed
Technology
Nlc India Ltd                           LT TL                 ICRA AAA     14000   Reaffirmed
Nlc India Ltd                           Long Term Non         ICRA AAA     6000    Reaffirmed
                                        Convertible Debentures
Power Finance Corporation Ltd           LT borrowing          ICRA AAA     310000  Outstanding
                                        programme FY2018
Power Finance Corporation Ltd           Overall borrowing                  510000^ -
                                        programme FY2018
^Short term borrowings are interchangeable with long term borrowings, subject to the total
borrowings in FY2018 not exceeding Rs. 51,000 crore.
Rajasthan Tube Manufacturing            FB                    ICRA B       200     Revised from
Co. Ltd                                                                            ICRA B+
Reliance Industrial Consortium          FB – CC               ICRA B-      15      Reaffirmed
Ltd
(Issuer not cooperating)
Reliance Industrial Consortium          FB – e-DFS            ICRA B-      47      Reaffirmed
Ltd
(Issuer not cooperating)
Reliance Industrial Consortium          Unallocated Limits    ICRA B-      43      Reaffirmed
Ltd
(Issuer not cooperating)
Rishabh Gold Jewels (India)             LT – Fund Based       ICRA BB      180     -
Pvt Ltd
(Issuer not cooperating)
Rishabh Gold Jewels (India)             LT/ST – Unallocated   ICRA BB /    200     -
Pvt Ltd                                                       ICRA A4
(Issuer not cooperating)
Sahaj Solar Pvt Ltd                     CC                    ICRA B+      5       -
(Issuer not cooperating)
Sahaj Solar Pvt Ltd                     Corp SME liquid Plus  ICRA B+      14      -
                                        Scheme (CSLPS)
(Issuer not cooperating)
Sahaj Solar Pvt Ltd                     TL                    ICRA B+      14.5    -
(Issuer not cooperating)
Sahaj Solar Pvt Ltd                     Vehicle Loan          ICRA B+      0.6     -
(Issuer not cooperating)
Sahaj Solar Pvt Ltd                     Unallocated Limits    ICRA B+ /    12.9    -
                                                              ICRA A4
(Issuer not cooperating)
Shree Chanakya Education                TL                    ICRA         1000    -
Society                                                       BBB-(SO)
Shrem Resort Pvt Ltd                    TL                    ICRA BBB@    1000    Withdrawn
@ denotes ‘watch with negative implications’
Shri Agrawal Educational And            LT FBL                ICRA B+      210     -
Cultural Society
(Issuer not cooperating)
Solairedirect Projects India            TL                    ICRA BBB-    1125    Upgraded
Pvt Ltd                                                                            from ICRA BBB
Sportking India Ltd                     LT FB Bk Fac          ICRA BBB+    4418.3  -
(reduced from 460.80 earlier)
Sportking India Ltd                     Proposed/ Unallocated ICRA BBB+    25.6    -
                                        Bk Fac
(reduced from 460.80 earlier)
Sundaram Bnp Paribas Home               NCD                   ICRA AA+     20888   Outstanding
Finance Ltd
Sundaram Bnp Paribas Home               Subordinated Debt     ICRA AA+     1700    Outstanding
Finance Ltd
Sundaram Bnp Paribas Home               LT Bk Limits          ICRA AA+     5000    Outstanding
Finance Ltd
Utkarsh Micro Finance Ltd               BLR                   ICRA A-      4000    -
(Issuer not cooperating)
Utkarsh Micro Finance Ltd               NCD                   ICRA A-      1880    -
(Issuer not cooperating)
Vd Global Pvt Ltd                       LT / ST, FB limits    ICRA BBB /   2500    Reaffirmed
                                                              ICRA A3+
Zuari Agro Chemicals Ltd                LT/ST unallocated     -            -
                                        limits
(reduced from Rs. 15 crore earlier)
Zuari Agro Chemicals Ltd                LT FBL                ICRA BBB+    12000
(increased from Rs 1200 crore earlier)
Zuari Agro Chemicals Ltd                LT fund               ICRA BBB+    750
                                        basedInterchangeable#
(increased from nil earlier) # Rs 75 crore of long term limit is fully interchangeable with
short term non-fund based limits.

Zuari Agro Chemicals Ltd                LT un-allocated limitsICRA BBB+    2650
(reduced from Rs. 300 crore earlier)
Arnav Technosoft Pvt Ltd                TL                    ICRA D      150     -
Issuer not cooperating
Shri Agarwal Educational And            LT FBL                ICRA B+     210     -
Cultural Society
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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