September 7, 2018 / 11:04 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Sep 7

 (Repeating to add more ratings)
    Sep 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 6, 2018.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aravali Power Company Pvt Ltd           Non-fund BasedBk Fac  ICRA A1      1250    Reaffirmed
Automotive Axles Ltd                    Non-FB limits         ICRA A1+     130     Reaffirmed
Automotive Axles Ltd                    ST -Unallocated       ICRA A1+     20      Reaffirmed
Dhar Construction Company               Non-fund based –BG    ICRA A3      580     Reaffirmed
(Removed from the ‘Issuer Not Cooperating’ category)
Dharamchand Paraschand Exports          FB –Pre and Post      ICRA A4      580     Reaffirmed
                                        Shipment Financing
Dharamchand Paraschand Exports          FB –Interchangeable   ICRA A4      -       Reaffirmed
Dharamchand Paraschand Exports          Unallocated Limits    ICRA A4      80      Reaffirmed
Ecap Equitiesltd                        CP Programme          ICRA A1+     12500   Outstanding
Ecap Equitiesltd                        ST NCD programme      ICRA A1+     1500    Outstanding
Ecap Equitiesltd                        ST Principle          PP-MLD ICRA  1500    Outstanding
                                        Protected Market      A1+
                                        Linked Debenture Programme
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     5000    Assigned
Ltd
Edelweiss Commodities Services          CP Programme          ICRA A1+     85000   Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+     80000   Outstanding
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD Programme      ICRA A1+     635     Outstanding
Ltd
Edelweiss Commodities Services          ST Principal          PP-MLD ICRA  3000    Outstanding
Ltd                                     Protected Market      A1+
                                        Linked Debenture Programme
Escorts Heart Institute And             Non-FB Limits         ICRA A4      50      Reaffirmed
Research Centre Ltd
(Ratings placed on watch with developing implications)
Fortis Healthcare Ltd                   CP/ST Debt            ICRA A4      6000    Reaffirmed
(Placed on watch with developing implications)
Fortis Healthcare Ltd                   Non-FB Limits         ICRA A4      200     Reaffirmed
(Placed on watch with developing implications)
Fortis Hospitals Ltd                    Non-FB Limits         ICRA A4&     972     Reaffirmed
(Ratings placed on watch with developing implications)
Hdfc Credila Financial                  CP programme          ICRA A1+     10000   Outstanding
Services Pvt Ltd
Hiranandani Healthcare Pvt Ltd          Non-funds-based LimitsICRA A4      0.2     Reaffirmed
(Ratings placed on watch with developing implications)
Hll Infra Tech Services Ltd             Non-fund based-ST     ICRA A2+     210     Outstanding
Lh Sugar Factories Ltd                  Non-FBL               ICRA A2+     50      Reaffirmed
Lh Sugar Factories Ltd                  ST FB limits          ICRA A2+     650     Reaffirmed
Mahavir Ship Breakers                   ST—Non-fund based     ICRA A4      355     -
(Removed from Issuer Not Cooperating category)
Nandyala Satyanarayana                  Non FB                ICRA A4      5       -
( Rating continues to remain under ‘Issuer Not Cooperating’ category)
Rms Construction Pvt Ltd                Non-fund Based BG     ICRA A3+     500     Reaffirmed
Rms Construction Pvt Ltd                Unallocated           ICRA A3+     10      Reaffirmed
Sp Spinning Millspvt Ltd                Non-fund              ICRA A3+     82.5    Reaffirmed
                                        based-Working Capital
                                        Fac
Supreet Chemicals Pvt Ltd               FB -Export packing    ICRA A4      100     Reaffirmed
                                        Credit/ Packing
                                        Credit in Foreign Currency/ Foreign Bills Purchase
Supreet Chemicals Pvt Ltd               Non-fund based-LOC    ICRA A4      100     Reaffirmed
Supreet Chemicals Pvt Ltd               Non-fund based-Buyers ICRA A4      -       Reaffirmed
                                        Credit
Supreet Chemicals Pvt Ltd               Non-fund based-BG     ICRA A4      10      Reaffirmed
Supreet Chemicals Pvt Ltd               Unallocated limits    ICRA A4      5       Reaffirmed
Tps Infrastructure Ltd                  Non-FB Limits –BG     ICRA A3      960     Revised from
                                                                                   ICRA A3+
Uneecops Technologies Ltd               ST Non-fund Based     ICRA A3+     135     Reaffirmed
Unibic Foods India Pvt Ltd              Non-fund              ICRA A4+     5       Upgraded
                                        based-Working Capital                      from ICRA A4
                                        Fac



LONG TERM RATINGS:
-------------------
Aravali Power Company Pvt Ltd           FBTL                  ICRA A       70631.3 Reaffirmed
Aravali Power Company Pvt Ltd           FBBk Fac              ICRA A       12000   Reaffirmed
Automotive Axles Ltd                    FBL                   ICRA A+      850     Reaffirmed
Outlook Revised
Automotive Axles Ltd                    LT -Unallocated       ICRA A+      2250    Reaffirmed
Outlook Revised
Dhar Construction Company               Fund based –CC        ICRA BBB-    200     Reaffirmed
(Removed from the ‘Issuer Not Cooperating’ category)
Dhar Construction Company               Fund based–TL         ICRA BBB-    18.5    Reaffirmed
(Removed from the ‘Issuer Not Cooperating’ category)
Dhar Construction Company               Unallocated Limits    ICRA BBB-/A3 1.5     Reaffirmed
(Removed from the ‘Issuer Not Cooperating’ category)
E I Technologies Pvt Ltd                FB Fac                ICRA BBB+    45      Reaffirmed
E I Technologies Pvt Ltd                Non-FB Fac            ICRA BBB+    120     Reaffirmed
E I Technologies Pvt Ltd                Unallocated Limits    ICRA BBB+    37      Reaffirmed
Ecap Equitiesltd                        NCD programme         ICRA AA-     7500    Outstanding
Ecap Equitiesltd                        LT Market Linked      PP-MLD ICRA  10000   Assigned
                                        Debenture programme   AA
Ecap Equitiesltd                        LT Market Linked      PP-MLD ICRA  18400.4 Outstanding
                                        Debenture programme   AA
Edelweiss Commodities Services          NCD Programme         ICRA AA      30000   Outstanding
Ltd
Edelweiss Commodities Services          NCD Programme         ICRA AA      51705   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA      20000   Outstanding
Ltd
Escorts Heart Institute And             TL                    ICRA B+      780     Reaffirmed
Research Centre Ltd
(Rating placed on watch with developing implications and negative outlook removed)
Escorts Heart Institute And             FB Limits             ICRA B+      200     Reaffirmed
Research Centre Ltd
(Rating placed on watch with developing implications and negative outlook removed)
Fortis Healthcare Ltd                   NCDs                  ICRA B+      2500    Upgraded
                                                                                   from ICRA C
(Rating placed on watch with developing implications)
Fortis Healthcare Ltd                   FB Limits             ICRA B+      1050    Upgraded
                                                                                   from ICRA C
(Rating placed on watch with developing implications)
Fortis Healthcare Ltd                   TL                    ICRA B+      1950    Upgraded
                                                                                   from ICRA C
(Rating placed on watch with developing implications)
Fortis Hospitals Ltd                    TL                    ICRA B+&     4178    Reaffirmed
(Rating placed on watch with developing implications and negative outlook removed)
Fortis Hospitals Ltd                    FB Limits             ICRA B+&     2350    Reaffirmed
(Rating placed on watch with developing implications and negative outlook removed)
Ganges Ford (Proprietor:                Bk Fac                ICRA BB      227.3   -
Lexicon Commercial Enterprises
Ltd)
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Golden Star Designer Pvt Ltd            CC                    ICRA B+      50      Assigned
Hdfc Credila Financial                  Perpetual debt        ICRA AA+     2750    Outstanding
Services Pvt Ltd                        programme
Hdfc Credila Financial                  Bk lines programme    ICRA AAA     40000   Assigned
Services Pvt Ltd
Hdfc Credila Financial                  Non-convertible       ICRA AAA     1000    Outstanding
Services Pvt Ltd                        subordinated
                                        debenture programme
Hiranandani Healthcare Pvt Ltd          TL                    ICRA B+      429.8   Reaffirmed
(Rating placed on watch with developing implications and negative outlook removed)
Hiranandani Healthcare Pvt Ltd          Overdraft             ICRA B+      30      Reaffirmed
(Rating placed on watch with developing implications and negative outlook removed)
Hll Infra Tech Services Ltd             CC-LT                 ICRA A       256.5   Assigned /
                                                                                   Outstanding
Igarashi Motors Sales Pvt Ltd           NCDs (NCDs)           ICRA AAA     1283.3  Reaffirmed
Intertouch Metal Buildings Pvt          LT Fund Based -CC     ICRA BB      20      Upgraded
Ltd                                                                                from ICRA B+
Intertouch Metal Buildings Pvt          LT/ST Interchangeable ICRA BB/A4+  -       Upgraded
Ltd                                                                                from ICRA B+
                                                                                   / ICRA A4
Intertouch Metal Buildings Pvt          LT /ST –Non Fund      ICRA BB/A4+  100     Upgraded
Ltd                                     Based BG                                   from ICRA B+
                                                                                   / ICRA A4
Intertouch Metal Buildings Pvt          Inland/Import LC      ICRA BB/A4+  33      Upgraded
Ltd                                                                                from ICRA B+
                                                                                   / ICRA A4
Intertouch Metal Buildings Pvt          LT/ST - Unallocated   ICRA BB/A4+  2       Upgraded
Ltd                                                                                from ICRA B+
                                                                                   / ICRA A4
Kogta Financial India Ltd -             PTC Series A1         ICRA A       -       Upgraded
Tern Cv Ifmr Capital 2017                                                          from ICRA A-
Kogta Financial India Ltd -             PTC Series A2         ICRA BBB     -       Upgraded
Tern Cv Ifmr Capital 2017                                                          from ICRA
                                                                                   BBB-
Kogta Financial India Ltd -             PTC Series A3         ICRA BBB     -       Upgraded
Tern Cv Ifmr Capital 2017                                                          from ICRA
                                                                                   BBB-
Krushna Industries                      FB-CC                 ICRA B+      95      Reaffirmed
Lh Sugar Factories Ltd                  FB limits             ICRA A-      1150    Reaffirmed
Lh Sugar Factories Ltd                  TL                    ICRA A-      609.1   Reaffirmed
Lh Sugar Factories Ltd                  Unallocated limits    ICRA A-      370.9   Reaffirmed
M. B. Mehta & Co                        LT / ST: Post         ICRA BB+ /   200     Reaffirmed
                                        Shipment Credit       ICRA A4+
M. B. Mehta & Co                        LT / ST: Export       ICRA BB+ /   -       Reaffirmed
                                        Packing Credit**      ICRA A4+
** sub-limit under Post Shipment Credit
M. B. Mehta & Co                        LT / ST: PCFC1**      ICRA BB+ /   -       Reaffirmed
                                                              ICRA A4+
** sub-limit under Post Shipment Credit
M. B. Polishing Works                   LT / ST: Post         ICRA BB+ /   200     Reaffirmed
                                        Shipment Credit       ICRA A4+
M. B. Polishing Works                   LT / ST: Export       ICRA BB+ /   60      Reaffirmed
                                        Packing Credit**      ICRA A4+
** sub-limit under Post Shipment Credit
M. B. Polishing Works                   LT / ST: PCFC1**      ICRA BB+ /   -       Reaffirmed
                                                              ICRA A4+
** sub-limit under Post Shipment Credit
Mahamaya Cashew Industries              LT -FB -CC            ICRA B       95      Reaffirmed
Mahamaya Cashew Industries              LT -FB –TL            ICRA B       25      Reaffirmed
Mahavir Ship Breakers                   LT—FB                 ICRA B-      332     Upgraded
                                                                                   from ICRA C
Mahavir Ship Breakers                   Unallocated Limits    ICRA B-      7.3     Upgraded
                                                                                   from ICRA C
Nandyala Satyanarayana                  FB-CC                 ICRA BB-     1       -
( Rating continues to remain under ‘Issuer Not Cooperating’ category)
Nandyala Satyanarayana                  FB                    ICRA BB-/A4  1275    -
( Rating continues to remain under ‘Issuer Not Cooperating’ category)
Nandyala Satyanarayana                  Unallocated Limited   ICRA BB-/A4  19      -
( Rating continues to remain under ‘Issuer Not Cooperating’ category)
Raghunath Agro Tech (Pvt) Ltd           FB-CC                 ICRA BB-     300     -
(Rating moved to ‘Issuer Not Cooperating’ category)
Rijiya Brothers                         Fund based -CC        ICRA BBB-    270     Withdrawn
(ISSUER NOT COOPERATING)
Rijiya Brothers                         Non-Fund based        ICRA BBB-    17      Withdrawn
                                        –Working Capital
(ISSUER NOT COOPERATING)
Rijiya Brothers                         Unallocated Limit     ICRA BBB-    63      Withdrawn
(ISSUER NOT COOPERATING)
Sp Spinning Millspvt Ltd                Fund based-Working    ICRA BBB     70      Reaffirmed
                                        Capital Fac
Sp Spinning Millspvt Ltd                Unallocated limits    ICRA BBB     40      Reaffirmed
Sri Ramalingeswara Aqua Feeds           FB limits             ICRA B+      60      Reaffirmed
Sri Venkateswara Aqua Culture           FBL                   ICRA B+      120     Reaffirmed
Supreet Chemicals Pvt Ltd               FB -CC                ICRA BB-     40      Downgraded
                                                                                   from ICRA BB
Tps Infrastructure Ltd                  FB Limits –CC         ICRA BBB-    465     Revised from
                                                                                   ICRA BBB
Tps Infrastructure Ltd                  FB Limits –TL         ICRA BBB-    125     Revised from
                                                                                   ICRA BBB
Uneecops Technologies Ltd               LT FB                 ICRA BBB-    128     Reaffirmed
Uneecops Technologies Ltd               LT -Unallocated       ICRA BBB-    37      Reaffirmed
Unibic Foods India Pvt Ltd              Fund based-Working    ICRA BB+     325     Upgraded
                                        Capital Fac                                from ICRA BB
Unibic Foods India Pvt Ltd              Fund based-TL         ICRA BB+     170     Upgraded
                                                                                   from ICRA BB


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