September 6, 2017 / 10:54 AM / 16 days ago

RPT-ICRA ratings for Indian debt instruments-Sep 6

 (Repeating to add more ratings)
    Sep 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 5, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Apl Apollo Tubes Ltd                    Non-FBL               ICRA A1+     1300    Outstanding
Apl Apollo Tubes Ltd                    CP                    ICRA A1+     2000    Outstanding
                                                              (SO)
Elgi Rubber Co. Ltd                     ST-Fund Based         ICRA A2      150     Reaffirmed
                                        Facility
Elgi Rubber Co. Ltd                     ST-Fund Based sub     ICRA A2      100     Reaffirmed
                                        limits
Elgi Rubber Co. Ltd                     ST-Non Fund Based     ICRA A2      180     Reaffirmed
                                        Facility
Elica Vitrified Pvt Ltd                 Non-FBL               ICRA A4      25      Reaffirmed
Gtn Industries Ltd                      FB Limits             ICRA A4      873.6   Reaffirmed
Gtn Industries Ltd                      Non FB Limits         ICRA A4      262     Reaffirmed
Indiabulls Housing Finance Ltd          CP                    ICRA A1+     150000  Outstanding
Krishi Infratech                        ST – Non Fund Based   ICRA A4      230
Issuer delayed in giving information
L&T Housing Finance Ltd                 CP programme (IPO     ICRA A1+     10000   Withdrawn
                                        financing)
L&T Housing Finance Ltd                 CP programme (IPO     ICRA A1+     10000   Outstanding
                                        financing)
Lloyds Line Pipes Ltd                   CP                    ICRA A1+     800     Outstanding
Lloyds Line Pipes Ltd                   Non-FBL               ICRA A1+     400     Outstanding
                                                              (SO)
Mahe Educational And                    ST: Non FB Fac        ICRA A4      36
Charitable Nri Trust
Issuer Not Cooperating
Nageshwari Ceramic Pvt Ltd              Non-fund based – BG   ICRA A4      15      Reaffirmed
Ngl Fine-Chem Ltd                       LOC                   ICRA A3+     48      Reaffirmed
Ngl Fine-Chem Ltd                       PSR Limit             ICRA A3+     40      Reaffirmed
Rathi Graphic Technologies Ltd          NFBL                  ICRA A4      40      Revised from
                                                                                   ICRA A4+
Rathi Graphic Technologies Ltd          SLC                   ICRA A4      10      Revised from
                                                                                   ICRA A4+
Shri Lakshmi Metal Udyog Ltd            Non-FBL               ICRA A1+     130     Outstanding
                                                              (SO)
S.K.L Exports                           ST FB Fac             ICRA A4      50      Issuer Not
                                                                                   Cooperating
Somnath Agro Industries                 Export Packing Credit ICRA A4
                                        cum Foreign Bills
                                        Purchased/ Foreign Bills Discounted
Issuer Not Cooperating
Stonemen Crafts India Pvt Ltd           FB Limits – ST        ICRA A4+     55      Withdrawn
Stonemen Crafts India Pvt Ltd           Non-FB Limits         ICRA A4+     200     Withdrawn
Stonemen Crafts India Pvt Ltd           FB Limits – ST        ICRA A4+     55      Withdrawn
Stonemen Crafts India Pvt Ltd           Non-FB Limits         ICRA A4+     200     Withdrawn
Venus Petrochemicals (Bombay)           Non-fund based –      ICRA A3+     325     Upgraded
Pvt Ltd                                 BG/LOC                                     from ICRA A3
revised from Rs.50.00 CR

MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd                 Medium-Term Fixed     ICRA MAA+    1000    Outstanding
                                        Deposits

LONG TERM RATINGS:
-------------------
Aadhi Vinayaga Spinners                 LT – TL               ICRA B+      30.2
Issuer Not Cooperating
Aadhi Vinayaga Spinners                 LT – FB Fac           ICRA B+      85
Issuer Not Cooperating
Aadhi Vinayaga Spinners                 LT – Proposed Fac     ICRA B+      4.8
Issuer Not Cooperating
Apl Apollo Tubes Ltd                    TL                    ICRA A+      1210    Assigned/
                                                                                   outstanding
earlier Rs. 94.5 crore
Apl Apollo Tubes Ltd                    NCD                   ICRA A+      1250    Outstanding
Apl Apollo Tubes Ltd                    CC Limits             ICRA A+ /A1+ 4450    Outstanding
Apl Apollo Tubes Ltd                    Unallocated Limits    ICRA A+ /A1+ 650     Outstanding
Atlas Cycles (Haryana) Ltd              LT - FBL              ICRA D       480     Revised from
                                                                                   ICRA B+
Atlas Cycles (Haryana) Ltd              LT – Non-FBL          ICRA D       2.5     Revised from
                                                                                   ICRA B+
Atlas Cycles (Haryana) Ltd              ST – Non-FBL          ICRA D       295     Revised from
                                                                                   ICRA A4
Atlas Cycles (Haryana) Ltd              Unallocated           ICRA D       68      Revised from
                                                                                   ICRA B+
Coastal Energy Pvt Ltd                  FB Limits             ICRA D       1135
Issuer Not Cooperating
Coastal Energy Pvt Ltd                  Non-FBL               ICRA D       6455
Issuer Not Cooperating
Coastal Energy Pvt Ltd                  Unallocated Limits    ICRA D       3355
Issuer Not Cooperating
Eldorado Agritech Pvt. Ltd              LT FBL                ICRA BB      98.3    Assigned
Eldorado Agritech Pvt. Ltd              Unallocated limits    ICRA BB      3.1     Assigned
Elgi Rubber Co. Ltd                     LT-Foreign Currency TLICRA BBB+
Elgi Rubber Co. Ltd                     LT- Fund Based        ICRA BBB+    350
                                        Facility
Elgi Rubber Co. Ltd                     LT- Non Fund Based    ICRA BBB+    851.6
                                        Facility
Elgi Rubber Co. Ltd                     LT- Non Fund Based    ICRA BBB+
                                        Facility
Elgi Rubber Co. Ltd                     LT- Non Fund Based    ICRA BBB+
                                        Facility
Elgi Rubber Co. Ltd                     LT/ST- Unallocated FacICRA BBB+    6       Reaffirmed
                                                              /A2
Elica Vitrified Pvt Ltd                 FB Limits – CC        ICRA BB-     90      Reaffirmed
Elica Vitrified Pvt Ltd                 FB Limits – TL        ICRA BB-     52.5    Reaffirmed
enhanced from 2.24 CR
Elica Vitrified Pvt Ltd                 Unallocated Limits    ICRA BB- /A4 2.5     Reaffirmed
Frank Lifecare Pvt Ltd                  TL                    ICRA B+
Issuer Not Cooperating
Frank Lifecare Pvt Ltd                  LT Unallocated Limit  ICRA B+
Issuer Not Cooperating
Gtn Industries Ltd                      TL                    ICRA B       924.9   Reaffirmed
Gtn Industries Ltd                      Unallocated Limits    ICRA B /A4   3.1     Assigned
Hydrobaths Ramco Marketing Pvt          FBL                   ICRA D       92.5
Ltd
Issuer Not Cooperating
Hydrobaths Ramco Marketing Pvt          TL                    ICRA D       11.8
Ltd
Issuer Not Cooperating
Hydrobaths Ramco Marketing Pvt          Non Fund Based        ICRA D       25
Ltd
Issuer Not Cooperating
Hydrobaths Ramco Marketing Pvt          Unallocated           ICRA D       10
Ltd
Issuer Not Cooperating
Igarashi Motors Sales Pvt Ltd           NCD                   ICRA AAA     1750    Final
                                                              (SO)
Indiabulls Housing Finance Ltd          Subordinated Debt     ICRA AAA     5000    Assigned
                                        Programme
Indiabulls Housing Finance Ltd          NCD                   ICRA AAA     452000  Outstanding
revised from 50,200 CR
Indiabulls Housing Finance Ltd          LT Bk Fac             ICRA AAA     500000  Outstanding
Jai Laxmi Cement Co. Pvt Ltd            FB - CC               ICRA B       60      Assigned
Kapsons Engineers Pvt Ltd               Inventory Funding – LTICRA BB      200
Review process is underway
Karvy Fintech Pvt Ltd                   NCD                   ICRA AA-     4000    Assigned
                                                              (SO)
Krishi Infratech                        LT – Fund Based       ICRA BB      50
Issuer delayed in giving information
Kwality Township Pvt. Ltd.              FBL – TL              ICRA D       50
Issuer Not Cooperating
L&T Housing Finance Ltd                 Perpetual Debt        ICRA AA      1000    Outstanding
                                        Programme
L&T Housing Finance Ltd                 NCD Programme         ICRA AA+     10000   Assigned
L&T Housing Finance Ltd                 NCD                   ICRA AA+     42500   Outstanding
L&T Housing Finance Ltd                 Subordinated Debt     ICRA AA+     3000    Outstanding
                                        Programme
L&T Housing Finance Ltd                 Bk Lines              ICRA AA+     29000   Outstanding
                                                              /A1+
Lloyds Line Pipes Ltd                   CC Limits             ICRA A+ (SO) 1550    Assigned/
                                                                                   outstanding
earlier Rs. 105.0 crore
Lloyds Line Pipes Ltd                   TL                    ICRA A+ (SO) 412     Assigned/
                                                                                   outstanding
earlier Rs. 22.78 crore
Mahe Educational And                    LT - TL               ICRA B+      54
Charitable Nri Trust
Issuer Not Cooperating
Mahe Educational And                    LT – FB Fac           ICRA B+      15
Charitable Nri Trust
Issuer Not Cooperating
Manisha Construction Co.                Bk Loan               ICRA B+ /A4  200
Issuer delayed in giving information
Nageshwari Ceramic Pvt Ltd              FB – TL               ICRA B+      47      Reaffirmed
Nageshwari Ceramic Pvt Ltd              FB – CC               ICRA B+      30      Reaffirmed
Ngl Fine-Chem Ltd                       CC                    ICRA BBB     80      Reaffirmed
Ngl Fine-Chem Ltd                       TL                    ICRA BBB     178     Reaffirmed
Ngl Fine-Chem Ltd                       Preshipment Credit    ICRA BBB     80      Reaffirmed
Rathi Graphic Technologies Ltd          TL                    ICRA BB      4.9     Revised from
                                                                                   ICRA BB+
Rathi Graphic Technologies Ltd          Working Capital LimitsICRA BB      65      Revised from
                                                                                   ICRA BB+
Rathi Graphic Technologies Ltd          Unallocated           ICRA BB      8.2     Revised from
                                                                                   ICRA BB+
Renew Wind Energy (Delhi) Pvt           FB – TL               ICRA BBB     1350    Withdrawn
Ltd
Shree Umavanshi Industries              LT FB CC Limit        ICRA B       100
Issuer Not Cooperating
Shri Lakshmi Metal Udyog Ltd            CC Limits             ICRA A+ (SO) 900     Outstanding
earlier Rs. 40.0 crore
Shri Lakshmi Metal Udyog Ltd            TL                    ICRA A+ (SO) 60      Outstanding
earlier Rs. 8.4 crore
Shyam Cottex                            LT FB CC Limit        ICRA B       40
Issuer Not Cooperating
Shyam Cottex                            LT FB TL              ICRA B       13.8
Issuer Not Cooperating
S.K.L Exports                           LT FB Fac             ICRA BB      70      Issuer Not
                                                                                   Cooperating
Somnath Agro Industries                 CC                    ICRA B       50
Issuer Not Cooperating
Somnath Agro Industries                 TL                    ICRA B       4.2
Issuer Not Cooperating
Srikar Biotech Pvt. Ltd.                LT FBL                ICRA BB-     122.3   Assigned
Srikar Biotech Pvt. Ltd.                Unallocated limits    ICRA BB-     4.6     Assigned
Stonemen Crafts India Pvt Ltd           FB Limits-LT          ICRA BB+     20      Withdrawn
Stonemen Crafts India Pvt Ltd           TL                    ICRA BB+     43.8    Withdrawn
Stonemen Crafts India Pvt Ltd           Unallocated           ICRA BB+     1.2     Withdrawn
Stonemen Crafts India Pvt Ltd           FB Limits-LT          ICRA BB+     20      Withdrawn
Stonemen Crafts India Pvt Ltd           TL                    ICRA BB+     43.8    Withdrawn
Stonemen Crafts India Pvt Ltd           Unallocated           ICRA BB+     1.2     Withdrawn
Sunbeam Real Ventures Pvt Ltd           FB                    ICRA BB-     100     Assigned
Venus Petrochemicals (Bombay)           FB                    ICRA BBB     15      Upgraded
Pvt Ltd                                                                            from ICRA
--------------------------------------------------------------------------------------------
$: 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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