September 7, 2017 / 10:51 AM / 14 days 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, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
B Fouress Pvt Ltd                       NFBL                  ICRA A2      1380    -
Bharat Silks                            ST – Non FBL          ICRA A4      31      Issuer Not
                                                                                   Cooperating
G.R. Weavers Pvt Ltd                    ST non fundbased      ICRA A4      50      Issuer Not
                                                                                   Cooperating
Ginni Holdings                          ST non-FBL            ICRA D       10      Issuer Not
                                                                                   Cooperating
Gm Exports                              LOC                   ICRA A4      15      Issuer Not
                                                                                   Cooperating
Gm Exports                              BG                    ICRA A4      50      Issuer Not
                                                                                   Cooperating
High-Volt Electricals Pvt. Ltd.         ST Non-fund Based –   ICRA A3      20      Reaffirmed
                                        BG**
**50% Interchangeability between Letter of Credit and Bank Guarantee
High-Volt Electricals Pvt. Ltd.         ST Non-fund Based –   ICRA A3      20      Reaffirmed
                                        LOC**
**50% Interchangeability between Letter of Credit and Bank Guarantee
Iifl Wealth Management Ltd              CP programme (IPO     ICRA A1+     20000   Withdrawn
                                        financing)
Iifl Wealth Management Ltd              ST Debt programme     ICRA A1+     5000    Outstanding
India Infoline Finance Ltd              IPO financing         ICRA A1+     120000  Withdrawn
                                        programme
India Infoline Finance Ltd              ST debt programme     ICRA A1+     70000   Outstanding
Manav Gems                              FB limits             ICRA A4      150     Reaffirmed
Nalari Ferro Alloys Pvt. Ltd.           Non FB limits         ICRA A4      75      Issuer Not
(Nfapl)                                                                            Cooperating
National Cooperative                    CP Programme          ICRA A1+     15980   Reaffirmed
Development Corporation
enhanced from 1,475 crores
National Cooperative                    ST Bk Lines           ICRA A1+     107000  Reaffirmed
Development Corporation
enhanced from 5,114 crores
Omexo Tiles                             Non-fund based – BG   ICRA A4      7.5     Reaffirmed
Orinda Granito Llp                      Non- FBL              ICRA A4      25      Assigned
Pearl Engineering                       ST non FB             ICRA A4      175     Issuer Not
                                                                                   Cooperating
Punjab Hammers Pvt Ltd                  LOC                   ICRA A4+     20      Reaffirmed
Radiant Energy Solutions Pvt            Non Fund Based – BG   ICRA A4      40      Assigned
Ltd
Rsal Steel Pvt Ltd                      ST NFBL               ICRA D       2065.5  Issuer Not
                                                                                   Cooperating
Vamsi Labs Ltd                          ST: Non-fund based –  ICRA A4      22.5    Reaffirmed
                                        BG
LONG TERM RATINGS:
-------------------
Alapatt Fashion Jewellery,              LT – FB Fac           ICRA BB-     135     Revised from
Kothamangalam                                                                      ICRA BB
Alapatt Fashion Jewellery,              LT – FB Fac           ICRA BB-     70      Revised from
Kozhikode                                                                          ICRA BB
Alapatt Jewellers (Alapatt              LT – FB Fac           ICRA BB-     220     Revised from
Heritage), Ernakulam                                                               ICRA BB
Annapurna Microfinance Pvt Ltd          NCD Programme         ICRA BBB     325     Assigned
Anthony Garments Pvt Ltd                BLR                   ICRA BB-     252.8   -
                                                              /A4
B Fouress Pvt Ltd                       CC                    ICRA BBB     40      -
Bharat Silks                            LT – FB limits        ICRA BB-     100     Issuer Not
                                                                                   Cooperating
Florida Electrical Industries           FB - CC               ICRA D       55      Revised from
Ltd                                                                                ICRA BB-
Florida Electrical Industries           optionally            ICRA D       20      Revised from
Ltd                                     convertible debenture                      ICRA BB-
Florida Electrical Industries           Unallocated           ICRA D       5       Revised from
Ltd                                                                                ICRA BB-
G.R. Weavers Pvt Ltd                    LT FB – CC            ICRA B+      57.5    Issuer Not
                                                                                   Cooperating
G.R. Weavers Pvt Ltd                    LT FB – TL            ICRA B+      130     Issuer Not
                                                                                   Cooperating
Ganga Papers India Ltd                  LT - Fund Based/ CC   ICRA BB-     60      -
*Issuer did not co-operate; Based on best available information
Ganga Papers India Ltd                  LT / ST – Fund Based  ICRA BB-     80      -
*Issuer did not co-operate; Based on best available information
Gem Batteries Pvt Ltd                   FB Limits             ICRA D       180     Revised from
                                                                                   ICRA B-
Ginni Holdings                          LT FB limits          ICRA D       220     Issuer Not
                                                                                   Cooperating
Ginni Holdings                          Unallocated limits    ICRA D       20      Issuer Not
                                                                                   Cooperating
Gm Exports                              CC                    ICRA BB      20      Issuer Not
                                                                                   Cooperating
Gm Exports                              Channel Financing     ICRA BB      180     Issuer Not
                                        Limits                                     Cooperating
Gm Exports                              LT/ ST Proposed limitsICRA BB/A4   40      Issuer Not
                                                                                   Cooperating
Goel Exim India Pvt Ltd                 LT FB limits          ICRA D       500     Issuer Not
                                                                                   Cooperating
High-Volt Electricals Pvt. Ltd.         LT Fund Based – CC    ICRA BBB-    110     Reaffirmed
High-Volt Electricals Pvt. Ltd.         LT Fund Based –       ICRA BBB-    20      Reaffirmed
                                        Standby Line of Credit
Iifl Wealth Management Ltd              Secured NCD programme ICRA AA      1000    Outstanding
India Infoline Finance Ltd              Sub. Debt Programme   ICRA AA      10000   Outstanding
India Infoline Finance Ltd              LT Bk lines           ICRA AA      57750   Outstanding
India Infoline Finance Ltd              LT debt programme     ICRA AA      25100   Outstanding
India Infoline Finance Ltd              Secured NCD programme ICRA AA      20000   Outstanding
India Infoline Finance Ltd              Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   5000    Outstanding
                                        protected equity      AA
                                        linked debenture programme
India Infoline Finance Ltd              LT principal          PP-MLDICRA   1000    Outstanding
                                        protected market      AA
                                        linked debenture programme
Khandwala Enterprise Pvt Ltd            Proposed Non-FBL      ICRA         500     Assigned
                                                              BB/ICRA A4+
Krishna Constructions                   FB – TL               ICRA B+      150     Assigned
Krishna Institute Of Medical            FB Limits             ICRA A-      1000    Assigned
Sciences Ltd (Kims)
Merlin Buildcon Gujarat Llp             Overdraft facility    ICRA         100     -
                                                              BBB+(SO)
*Issuer did not co-operate; Based on best available information
Merlin Projects Ltd                     TL                    ICRA BBB+    400     Issuer Not
                                                                                   Cooperating
Merlin Projects Ltd                     CC                    ICRA BBB+    100     Issuer Not
                                                                                   Cooperating
Nalari Ferro Alloys Pvt. Ltd.           FB limits             ICRA B+      89.5    Issuer Not
(Nfapl)                                                                            Cooperating
Nalari Ferro Alloys Pvt. Ltd.           Untied Limits         ICRA B+      5.5     Issuer Not
(Nfapl)                                                       /ICRA A4             Cooperating
National Cooperative                    LT TBs Programme      ICRA AA      7500    Reaffirmed
Development Corporation
National Cooperative                    CC Bk Lines           ICRA AA      2995.5  Reaffirmed
Development Corporation
revised from 573.55 crores
Omexo Tiles                             FB – CC               ICRA B+      20      Reaffirmed
Omexo Tiles                             FB – TL               ICRA B+      40.5    Reaffirmed
Omkar Realtors Projects Pvt Ltd         NCDs                  ICRA BB      1724.9  Reaffirmed
Orinda Granito Llp                      FB – CC               ICRA B       80      Assigned
Orinda Granito Llp                      FB – TL               ICRA B       165     Assigned
P.R. Nayak Associates Ltd               LT                    ICRA BB      150     -
P.R. Nayak Associates Ltd               CC                    ICRA BB      -       -
Paedia Health Pvt. Ltd.                 FB limits             ICRA B-      119.5   Withdrawn
Paedia Health Pvt. Ltd.                 Untied Limits         ICRA B-      55      Withdrawn
Parakh Agro Industries Ltd              Bk Loan Rating        ICRA A- /    2200    -
                                                              A2+
Parakh Foods And Oils Ltd               Bk Loan Rating        ICRA A- /    2000    -
                                                              A2+
Pearl Engineering                       LT FB – CC            ICRA BB      80      Issuer Not
                                                                                   Cooperating
Pearl Engineering                       LT FB – TL            ICRA BB      36.1    Issuer Not
                                                                                   Cooperating
Pearl Engineering                       LT unallocated        ICRA BB      108.9   Issuer Not
                                                                                   Cooperating
Punjab Hammers Pvt Ltd                  CC                    ICRA BB      50      Reaffirmed
Quality Woven Sacks Pvt Ltd             LT - Fund Based/ CC   ICRA BB-     140     -
*Issuer did not co-operate; Based on best available information
Quality Woven Sacks Pvt Ltd             LT / ST – Unallocated ICRA BB- /A4 108.5   -
*Issuer did not co-operate; Based on best available information
Radiant Energy Solutions Pvt            Fund Based – TL       ICRA B       22.5    Assigned
Ltd
Radiant Energy Solutions Pvt            Fund Based – CC       ICRA B       60      Assigned
Ltd
Ras Polytex Pvt Ltd                     LT / ST - Unallocated ICRA BB-     59.7    -
*Issuer did not co-operate; Based on best available information
Ras Polytex Pvt Ltd                     LT - Fund Based/ CC   ICRA BB-*    65      -
*Issuer did not co-operate; Based on best available information
Rsal Steel Pvt Ltd                      LT FBL                ICRA D       705.2   Issuer Not
                                                                                   Cooperating
Shree Raj Mahal Diamonds Pvt            LT FB limits          ICRA D       300     Issuer Not
Ltd                                                                                Cooperating
Thermoset Poly Products (I)             BLR                   ICRA B       50      Issuer Not
Pvt. Ltd.                                                                          Cooperating
Ur Realtors Pvt Ltd                     FB TL                 ICRA BBB+    80      Reaffirmed
(reduced from Rs. 9.42 crore)
Ur Realtors Pvt Ltd                     Unallocated           ICRA BBB+    20      Reaffirmed
(increased from Rs. 0.58 crore)
Vamsi Labs Ltd                          LT: FB – CC           ICRA BB-     40      Reaffirmed
Vamsi Labs Ltd                          LT: Unallocated       ICRA BB-     59.5    Reaffirmed
Virendra Kumar Singh (Vks)              FB limits             ICRA B+      40      Issuer Not
                                                                                   Cooperating
Virendra Kumar Singh (Vks)              Non FB limits         ICRA B+      20      Issuer Not
                                                                                   Cooperating
Virendra Kumar Singh (Vks)              Untied Limits         ICRA B+      5       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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