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RPT-ICRA ratings for Indian debt instruments-Sep 8
September 8, 2017 / 10:53 AM / 2 months ago

RPT-ICRA ratings for Indian debt instruments-Sep 8

 (Repeating to add more ratings.)
    Sep 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 7, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Cholamandalam Investment And            CP                    ICRA A1+     50000   Outstanding
Finance Co. Ltd
Darshita Exim Pvt Ltd                   Non FB Fac            ICRA A3+     500     Upgraded
                                                                                   from ICRA A3
Darshita Exim Pvt Ltd                   Unallocated           ICRA A3+     200     Upgraded
                                                                                   from ICRA A3
Sobha Ltd                               CP                    ICRA A1      1000    Assigned
Unique Biotech Ltd                      ST Non-FBL            ICRA A3+     25      Upgraded
                                                                                   from ICRA A3
Vardhman Vitrified Pvt Ltd              Non-fund based – BG   ICRA A4      30      Upgraded
                                                                                   from ICRA D
York Print Pvt Ltd                      Non FB – BG           ICRA A3      13      Withdrawn
Adani Ports And Sez Ltd                 CP                    ICRA A1+     67000   Reaffirmed
Ajax Fiori Engineering (India)          Non Fund Based-ST     ICRA A1+     53.2    Reaffirmed
Pvt.Ltd.
Amalgamated Plantations Pvt             CP**                  ICRA A1      2250    Outstanding
Ltd
**Total borrowing under CP/STD and cash credit to be limited to sanctioned cash credit limits or
drawing power, whichever is lower.
Asia Bulk Sacks Pvt Ltd                 FB-Export packing     ICRA A4      180     Upgraded
(Erstwhile Asia Woven Sacks             credit                                     from ICRA D
Pvt. Ltd.)
Asia Bulk Sacks Pvt Ltd                 Non-fund based –LOC   ICRA A4      65      Upgraded
(Erstwhile Asia Woven Sacks                                                        from ICRA D
Pvt. Ltd.)
Iifl Wealth Finance Ltd                 CP programme (IPO     ICRA A1+     40000   Withdrawn
                                        financing)
Iifl Wealth Finance Ltd                 CP programme          ICRA A1+     50000   Outstanding
Krishnaveni Seeds And                   ST – Non-fund based   ICRA A4      1.1     -
Fertilizers
*Issuer did not cooperate; based on best available information.
Lagnam Spintex Pvt Ltd                  NFB-BG                ICRA A3      15.3    Assigned
Lahoti Overseas Ltd                     ST, FB Limit          ICRA A3+     1010    Reaffirmed
(earlier 97.00 CR)
Minda Industries Ltd                    Non-FBL               ICRA A1+     370     Reaffirmed
(enhanced from 27.00 CR)
Minda Industries Ltd                    CP Programme          ICRA A1+     300     Reaffirmed
Nirmal Wires Pvt Ltd                    NFBL                  ICRA A3      380     Reaffirmed
(Revised from 10.50 CR)
Redington India Ltd                     ST: FB Fac            ICRA A1+     9725    Reaffirmed
(revised from 621.69 CR)
Redington India Ltd                     LT/ST: Unallocated FacICRA A1+     75      Reaffirmed
(revised from 5.91 CR)
Redington India Ltd                     CP                    ICRA A1+     14000   Reaffirmed
Stylin Saniarywares                     BG                    ICRA A4      3.2     Reaffirmed
Vinit Gloves Manufacturing Pvt          FB – Packing          ICRA A3      160     Reaffirmed
Ltd                                     Credit/Pre-Shipment
                                        Credit in Foreign Currency
Vinit Gloves Manufacturing Pvt          FB – Post Shipment    ICRA A3      20      Reaffirmed
Ltd                                     Limit
Vinit Gloves Manufacturing Pvt          Non FB – LOC          ICRA A3      7.5     Reaffirmed
Ltd                                     (Inland/Import)
Vinit Gloves Manufacturing Pvt          Non FB – Loan         ICRA A3      60      Reaffirmed
Ltd                                     Equivalent factor for
                                        Forward Covers

LONG TERM RATINGS:
-------------------
Aditya Ultra Steel Pvt Ltd              BLR                   ICRA D       150     Issuer Not
                                                                                   Cooperating
Aveena Milk Products                    LT-Unallocated        -            50      -
Aveena Milk Products                    LT fund based         ICRA B+      50      -
Celebi Delhi Cargo Terminal             Issuer rating         ICRA A-      -       Assigned
Management India Pvt Ltd
Cholamandalam Investment And            LT Loans from Bks     ICRA AA      72200   Assigned /
Finance Co. Ltd                                                                    outstanding
Cholamandalam Investment And            NCDs@                 ICRA AA      129682  Outstanding
Finance Co. Ltd
Cholamandalam Investment And            Subordinated Debt     ICRA AA      22950   Outstanding
Finance Co. Ltd
Cholamandalam Investment And            FB Fac from Bks#      ICRA AA      40000   Outstanding
Finance Co. Ltd
Cholamandalam Investment And            Sublimit - Non-FBL    ICRA AA      1000^   Outstanding
Finance Co. Ltd                         from Bks
Cholamandalam Investment And            Perpetual Debt        ICRA AA-     1330    Outstanding
Finance Co. Ltd                         Instruments
Disha Communications Pvt Ltd            FB                    ICRA BB+     92.5    Assigned /
                                                                                   outstanding
Disha Communications Pvt Ltd            NFB                   ICRA BB+     6.5     Assigned /
                                                                                   outstanding
Global Institute Of Medical             LT fund based         ICRA B+      200     -
Science & Healthcare
Indian Metals And Ferro Alloys          TL                    ICRA A-      7395.8  Reaffirmed
Ltd
Indian Metals And Ferro Alloys          Fund based working    ICRA A-      3270    Reaffirmed
Ltd                                     capital limits
Indian Metals And Ferro Alloys          Non-fund based        ICRA A-      630     Reaffirmed
Ltd                                     working capital limits
Krishnagiri Walajahpet Tollway          TL                    ICRA A(SO)   9855.8  Outstanding
Ltd
Krishnagiri Walajahpet Tollway          TL                    ICRA AA(SO)  540     confirmed as
Ltd                                                                                Final
Lupin Ltd                               NCD / Bk Loans        ICRA AAA /   16000   -
                                                              ICRA A1+
Mahesh Ginning Pvt Ltd                  LT fund based         ICRA B+      52.5    -
Mistry Enterprises Ltd                  CC                    ICRA D       100     -
Mistry Enterprises Ltd                  optionally            ICRA D       175     -
                                        convertible debenture
Sical Iron Ore Terminals Ltd            LT: TL                ICRA         5000    Reaffirmed
                                                              BBB+(SO)
Sical Iron Ore Terminals Ltd            LT: FBL               ICRA         500     Reaffirmed
                                                              BBB+(SO)
Sical Iron Ore Terminals Ltd            LT: Non fund based    ICRA         500     Reaffirmed
                                                              BBB+(SO)
Sobha Ltd                               FB-TL                 ICRA A+      21545.9 Outstanding
Sobha Ltd                               FB-WCL                ICRA A+      4550    Outstanding
Sobha Ltd                               NFB-WCL               ICRA A+      4500    Outstanding
Sobha Ltd                               NCD                   ICRA A+      4000    Outstanding
Sri Vijaya Lakshmi Raw And              LT FBL                ICRA BB-     450     Reaffirmed
Boiled Rice Mill
Sri Vijaya Lakshmi Raw And              Unallocated limits    ICRA BB-     30      Reaffirmed
Boiled Rice Mill
Unique Biotech Ltd                      LT FBL                ICRA BBB     113.7   Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Unique Biotech Ltd                      Unallocated limits    ICRA BBB     83.5    Upgraded
                                                              /ICRA A3+            from ICRA
                                                                                   BBB-/ICRA A3
Vardhman Vitrified Pvt Ltd              FB – CC               ICRA C+      60      Upgraded
                                                                                   from ICRA D
Vardhman Vitrified Pvt Ltd              Unallocated Limits    ICRA C+/ A4  100     Upgraded
                                                                                   from ICRA D
Vihaan Boards Pvt Ltd                   CC                    ICRA B+      70.5    Upgraded
                                                                                   from ICRA B-
Vihaan Boards Pvt Ltd                   TL                    ICRA B+      60      Upgraded
                                                                                   from ICRA B-
Vihaan Boards Pvt Ltd                   Unallocated Limits    ICRA B+      19.5    Upgraded
                                                                                   from ICRA B-
York Print Pvt Ltd                      FB – CC               ICRA BBB-    158     Withdrawn
York Print Pvt Ltd                      FB – TL               ICRA BBB-    195     Withdrawn
York Print Pvt Ltd                      Unallocated           ICRA BBB- /  4       Withdrawn
                                                              ICRA A3
Adani Ports And Sez Ltd                 Bk Fac                ICRA AA+     100200  Reaffirmed
Adani Ports And Sez Ltd                 NCD                   ICRA AA+     70000   Reaffirmed
Ajax Fiori Engineering (India)          CC–LT                 ICRA AA-     150     Reaffirmed
Pvt.Ltd.
Ajax Fiori Engineering (India)          TL                    ICRA AA-     0       Reaffirmed
Pvt.Ltd.
(reduced from 1.14 CR)
Ajax Fiori Engineering (India)          Proposed TL-LT        ICRA AA-     11.4    Reaffirmed
Pvt.Ltd.
(increased from 0.00 CR)
Amalgamated Plantations Pvt             TL                    ICRA A       1185.7  Outstanding
Ltd
Amalgamated Plantations Pvt             LT/ ST – Fundbased    ICRA A /     3300    Assigned /
Ltd                                     Limits                ICRA A1              outstanding
(enhanced from 290.00 CR)
Ascend Green Homes                      FB – CC               ICRA B-      99      -
Issuer Not Cooperating
Asia Bulk Sacks Pvt Ltd                 FB –TL                ICRA B-      91.6    Upgraded
(Erstwhile Asia Woven Sacks                                                        from ICRA D
Pvt. Ltd.)
Asia Bulk Sacks Pvt Ltd                 Unallocated Limits    ICRA B- /    99.4    Upgraded
(Erstwhile Asia Woven Sacks                                   ICRA A4              from ICRA D
Pvt. Ltd.)
Asset Homes Pvt Ltd                     LT – FB – TL          ICRA BBB-    50      Withdrawn
B.H. Cotton Pvt Ltd                     FBL                   ICRA B       70      Reaffirmed
Dsr Infrastructure Pvt Ltd              LT- Fund Based- TL    ICRA BB+     470     Upgraded
                                                                                   from ICRA BB
Edelweiss Asset Reconstruction          Bk Lines              ICRA AA-     5000    Outstanding
Co. Ltd
Edelweiss Asset Reconstruction          NCD Programme         ICRA AA-     5000    Outstanding
Co. Ltd
Edelweiss Asset Reconstruction          NCD Programme         ICRA AA(SO)  10500   Outstanding
Co. Ltd
Edelweiss Asset Reconstruction          LT Principal          PP-MLD ICRA  5000    Assigned
Co. Ltd                                 Protected Market      AA (SO)
                                        Linked Debenture Programme
Edelweiss Asset Reconstruction          LT Principal          PP-MLD ICRA  2500    Outstanding
Co. Ltd                                 Protected Market      AA(SO)
                                        Linked Debenture Programme
Icici Bank Ltd                          Basel III Complaint   ICRA         100000  Assigned
                                        Tier II Bonds         AAA(hyd)
                                        Programme
Iifl Wealth Finance Ltd                 NCD programme         ICRA AA      3000    Outstanding
Iifl Wealth Finance Ltd                 Unsecured NCD         ICRA AA      5000    Outstanding
                                        programme
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   2000    Outstanding
                                                              AA
Iifl Wealth Finance Ltd                 PP-MLD programme      PP-MLDICRA   25500   Outstanding
                                                              AA
Ino Flex Pvt Ltd                        FB Limits – TL        ICRA B       42.8    Withdrawn
Ino Flex Pvt Ltd                        FB Limits – CC        ICRA B       30      Withdrawn
Ireo Pvt Ltd                            FB                    ICRA BBB-    8030    Reaffirmed
Ireo Pvt Ltd                            NFB                   ICRA BBB-    1500    Reaffirmed
Ireo Pvt Ltd                            Unallocated           ICRA BBB-    170     Reaffirmed
Jagdambay Cotspin Ltd                   LT FB                 ICRA B+      200     Upgraded
                                                                                   from ICRA B
Krishnaveni Seeds And                   LT – FB               ICRA BB-     50      -
Fertilizers
*Issuer did not cooperate; based on best available information.
Lagnam Spintex Pvt Ltd                  FB CC                 ICRA BBB-    100     Assigned
Lagnam Spintex Pvt Ltd                  FB TL                 ICRA BBB-    9.7     Assigned
Lahoti Overseas Ltd                     TL                    -            -       -
(5.45 earlier CR)
Lahoti Overseas Ltd                     LT, FB Limit          ICRA BBB     50      Reaffirmed
Lahoti Overseas Ltd                     LT & ST Unallocated   ICRA BBB     14.5    Reaffirmed
                                        Limits                /ICRA A3+
M.K. Aggarwal Hosiery (P) Ltd           FB limits             ICRA B+      152.7   -
* Issuer did not cooperate; based on the best available information
M.K. Aggarwal Hosiery (P) Ltd           Non-FBL               ICRA B+      5       -
* Issuer did not cooperate; based on the best available information
M.K. Aggarwal Hosiery (P) Ltd           Unallocated (Proposed ICRA B+      42.3    -
                                        Limits)
* Issuer did not cooperate; based on the best available information
Madura Microfinance Ltd                 PTC Series A2         ICRA A-(SO)  6.3     Withdrawn
Madura Microfinance Ltd                 PTC Series A1         ICRA A+(SO)  286.1   Withdrawn
Madurai Tuticorin Expressways           Fund Based-TL         ICRA D       5623.1  Reaffirmed
Ltd
(reduced from 577.38 CR)
Mahesh Rice Mills                       FBL                   ICRA B       120     Reaffirmed
Minda Industries Ltd                    TL                    ICRA AA      96      Upgraded
                                                                                   from ICRA AA-
(reduced from 20.17 CR)
Minda Industries Ltd                    FBL – CC              ICRA AA      985     Upgraded
                                                                                   from ICRA AA-
Minda Industries Ltd                    Unallocated Limits    ICRA AA      119     Upgraded
                                                                                   from ICRA AA-
(enhanced from 11.33 CR)
Mro-Tek Realty Ltd (Erstwhile           FB-CC                 ICRA B+      200     Reaffirmed
Known As Mro-Tek Ltd)
Mro-Tek Realty Ltd (Erstwhile           Unallocated           ICRA B+      100     Reaffirmed
Known As Mro-Tek Ltd)                                         /ICRA A4
Nirmal Wires Pvt Ltd                    Untied Limits         -            -       -
Nirmal Wires Pvt Ltd                    FBL                   ICRA BBB-    604     Reaffirmed
(Revised from 79.50 CR)
Powergrid Vizag Transmission            NCD                   ICRA AAA(SO) 5000    Reaffirmed
Ltd
Redington India Ltd                     LT: Fund based        ICRA AA-     6100    Reaffirmed
(revised from 695.00 CR)
Redington India Ltd                     ST: Non-Fund based    ICRA AA- /   1600    Reaffirmed
                                                              ICRA A1+
(revised from 427.40 CR)
Renaissance Holdings &                  LT- Fund Based- TL    ICRA BB+     349     Reaffirmed
Developers Pvt Ltd
Renaissance Holdings &                  LT- Fund Based- CC    ICRA BB+     -       Reaffirmed
Developers Pvt Ltd
(reduced from 12.0 CR)
Sagar Nutriments Pvt Ltd                FBL                   ICRA B+      538.7   -
Issuer Not Cooperating
Sagar Nutriments Pvt Ltd                Unallocated (Proposed ICRA B+      1.3     -
                                        Limits)
Issuer Not Cooperating
Samhita Builders Pvt Ltd                LT – Proposed         ICRA B       200     Withdrawn
                                        Term-Loan
Sbi General Insurance Co. Ltd           CPA rating            iAAA         -       Reaffirmed
Sipani Fibres Ltd                       LTFB                  ICRA BB+     280     Reaffirmed /
                                                                                   Assigned
(enhanced from Rs. 25.28 crore)
Stylin Saniarywares                     TL                    ICRA B+      44.6    Upgraded
                                                                                   from ICRA B
(reduced from 5.00 CR)
Stylin Saniarywares                     CC                    ICRA B+      12.5    Upgraded
                                                                                   from ICRA B
Stylin Saniarywares                     Unallocated Limits    ICRA B+      65.7    Upgraded
                                                              /ICRA A4             from ICRA B
                                                                                   / Reaffirmed
Tamil Nadu Dindigul Karur               Fund Based-TL         ICRA D       1599.3  Reaffirmed
Expressways Ltd
(reduced from 177.47 CR)
Trichy Thanjavur Expressways            Fund Based-TL         ICRA D       2303.2  Reaffirmed
Ltd
(reduced from 238.29 CR)
Vinit Gloves Manufacturing Pvt          Unallocated limits    ICRA BBB- /  2.5     Reaffirmed
Ltd                                                           ICRA A3
Western Agri Seeds Ltd                  fbl                   ICRA BB      80      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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