ICRA ratings for Indian debt instruments-Aug 16
68
0
Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 14, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd ST Non-fund Based ICRA A4 30 Reaffirmed
Airtrax Polymers Pvt Ltd ST interchangeable^ ICRA A3 Withdrawn
^Rs. 0.60 crore is a sub-limit of long-term fund-based limits; Ratings on watch with developing
implications
Ashok Alco-Chem Ltd ST FBL ICRA A4+ 2.2 Withdrawn
Issuer not Cooperating
Ashok Alco-Chem Ltd ST Non-FBL ICRA A4+ 95 Withdrawn
Issuer not Cooperating
Ashok Alco-Chem Ltd ST - Interchangeable ICRA A4+ 30** Withdrawn
Issuer not Cooperating; ** sub-limit within LC/BC limit of Rs. 9 crore
Atm Exports Pvt Ltd ST Non-FBL ICRA A4 3.2 Reaffirmed
Happy Forgings Ltd Non-fund Based - ICRA A1 5
Working Capital Fac
Upgraded from ICRA A2+
Hinduja Leyland Finance Ltd CP ICRA A1+ 7500 Reaffirmed
India Factoring And Finance ST Bk Lines ICRA A1 7500
Solutions Pvt Ltd
Update on Material Event- Rating Retained
Indian Overseas Bank Certificates of ICRA A1+ 150000
Deposit
Update on Material Event- ratings remain unchanged
Intech Organics Ltd Non-fund Based - ICRA A3 282.5 Reaffirmed
Working Capital Fac
Jak Group Pvt Ltd ST FB ICRA A4+ 400 Withdrawn
Kalani Marketing Pvt Ltd ST non FBL ICRA A4 20
Issuer not Cooperating; Rating continues to remain in ‘Issuer Not Co-operating’ category
Krbl Ltd Non-fund Based - ICRA A1+ 1790 Reaffirmed
LC/BG/Forward Limit
Rbl Bank Ltd CD Programme ICRA A1+ 60000
Assigned/Outstanding
Rbl Bank Ltd ST Fixed Deposit ICRA A1+ -
Programme
Outstanding
Solar Industries India Ltd CP ICRA A1+ 1000 Withdrawn
MEDIUM TERM RATINGS:
-------------------
Rbl Bank Ltd Medium Term Fixed MAA -
Deposit Programme
Outstanding
LONG TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd LT FB CC ICRA B+ 110
Upgraded from ICRA B
Airtrax Polymers Pvt Ltd LT FB – CC ICRA BBB- 10 Withdrawn
Ratings on watch with developing implications
Airtrax Polymers Pvt Ltd LT FB – TL ICRA BBB- 65 Withdrawn
Ratings on watch with developing implications
Airtrax Polymers Pvt Ltd LT unallocated ICRA BBB- 35 Withdrawn
Ratings on watch with developing implications
Ashok Alco-Chem Ltd LT FBL ICRA BB+ 150 Withdrawn
Issuer not Cooperating
Ashok Alco-Chem Ltd Unallocated amount ICRA BB+ 12.8 Withdrawn
/A4+
Issuer not Cooperating
Atm Exports Pvt Ltd LT FB Limit ICRA BB- 95.4 Reaffirmed
Atm Exports Pvt Ltd LT/ ST Unallocated ICRA BB- /A4 11.4 Reaffirmed
Limit
Ds-Max Properties Pvt Ltd LT- TL ICRA BBB+ 440
Upgraded from ICRA BBB
Ds-Max Properties Pvt Ltd LT- Overdraft ICRA BBB+ 280
Upgraded from ICRA BBB
Ds-Max Realty Pvt Ltd LT- Unallocated ICRA BBB- 150 Reaffirmed
Enerfra Projects (India) Pvt. LT, TL ICRA BB+ 167 Reaffirmed
Ltd
Enerfra Projects (India) Pvt. LT, Unallocated ICRA BB+ 33 Reaffirmed
Ltd
Gks Business Associates Pvt Ltd Fund based- EPC ICRA BB- 310 Reaffirmed
Gks Business Associates Pvt Ltd Non-fund based – ICRA BB- 4 Reaffirmed
Forward Contract
Gks Business Associates Pvt Ltd Unallocated Limits ICRA BB- 6 Reaffirmed
Happy Forgings Ltd FB -TL ICRA A 1710
Upgraded from ICRA A-
Happy Forgings Ltd FB - Working Capital ICRA A 1235
Fac
Upgraded from ICRA A-
Hinduja Leyland Finance Ltd Subordinated debentureICRA AA- 2050
Upgraded from ICRA A+
Indian Overseas Bank Upper Tier II Bonds ICRA A- 21323
Update on Material Event- ratings remain unchanged
Indian Overseas Bank Perpetual Bonds ICRA A- 3000
Update on Material Event- ratings remain unchanged
Indian Overseas Bank Lower Tier I Bonds ICRA A+ 15900
Update on Material Event- ratings remain unchanged
Indian Overseas Bank Tier II Bonds - Basel ICRA A+ 8000
III (hyb)
Update on Material Event- ratings remain unchanged
Intech Organics Ltd FB - Working Capital ICRA BBB- 110 Reaffirmed
Fac
Intech Organics Ltd FB - TL ICRA BBB- 197.2 Reaffirmed
Intech Organics Ltd Unallocated ICRA BBB- 0.3 Reaffirmed
/A3
Jak Group Pvt Ltd LT FB ICRA BB+ 50 Withdrawn
Kalani Marketing Pvt Ltd LT FB limits ICRA BB- 460
Issuer not Cooperating; Rating continues to remain in ‘Issuer Not Co-operating’ category
Kalani Marketing Pvt Ltd LT interchangeable ICRA BB- 346.5**
limits
**Sublimit of long-term fund-based limits; Issuer not Cooperating; Rating continues to remain in
‘Issuer Not Co-operating’ category
Krbl Ltd TL ICRA AA 807.1 Reaffirmed
Krbl Ltd Working Capital ICRA AA 15750 Reaffirmed
Krbl Ltd Unallocated ICRA AA 442.9 Reaffirmed
Manmeet Alloys Pvt Ltd LT Fund Based CC ICRA B+ 150
Upgraded from ICRA B
Mikado Realtors Pvt Ltd Fund Based – TL ICRA BBB+ 7200 Assigned
Moonlight Marbles Pvt Ltd TL ICRA B- 5.4 Reaffirmed
Moonlight Marbles Pvt Ltd CC ICRA B- 120 Reaffirmed
Parmanand And Sons Food FB -TL ICRA BBB- 16 Reaffirmed
Products Pvt Ltd
Parmanand And Sons Food FB - Working Capital ICRA BBB- 775 Reaffirmed
Products Pvt Ltd Fac
Rbl Bank Ltd Basel III Compliant ICRA AA- 8000
Tier II Bond Programme
Outstanding
Renaatus Procon Pvt Ltd TL-LT ICRA BBB- 100 Assigned
Sai Radha Pharma (India) Pvt LT – FB ICRA B+ 175 Reaffirmed
Ltd
Sri Adiparashakti Agro Tech LT – FB – CC ICRA B+ 70 Assigned
Sri Adiparashakti Agro Tech LT – FB – TL ICRA B+ 10 Assigned
Sri Adiparashakti Agro Tech LT – Unallocated ICRA B+ 20 Assigned
Sri Manjunatha Spinning Mills CC ICRA B 120
Ltd
Issuer not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Manjunatha Spinning Mills TL ICRA B 104.7
Ltd
Issuer not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Manjunatha Spinning Mills BG ICRA B 4
Ltd
Issuer not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Manjunatha Spinning Mills Unallocated Limits ICRA B 52.9
Ltd
Issuer not Cooperating; Rating continues to remain under ‘Issuer Not Cooperating’ category
Svasti Microfinance Pvt Ltd- PTC Series A1 ICRA A-(SO) 100
Northern Arc 2018 Mfi Utthan
Provisional rating of confirmed as final
Svasti Microfinance Pvt Ltd- PTC Series A2 ICRA 5.9
Northern Arc 2018 Mfi Utthan BBB(SO)
Provisional rating of confirmed as final
Tracks & Towers Infratech Pvt LT: CC Fac ICRA A- 420
Ltd
Rating reaffirmed; outlook revised from Stable
Tracks & Towers Infratech Pvt LT: NonFB Fac ICRA A- 2790
Ltd
Rating reaffirmed; outlook revised from Stable
Tracks & Towers Infratech Pvt LT: Unallocated ICRA A- 1290
Ltd
Rating reaffirmed; outlook revised from Stable
Vikas Cotton Ginning & Pressing Fund based-CC ICRA D 120
Issuer not Cooperating; Revised from ICRA B+ (Stable) and moved to ‘Issuer Not Cooperating’
category due to non submission of no default statement
Vikas Cotton Ginning & Pressing Unallocated Limits ICRA D 51
Issuer not Cooperating; Revised from ICRA B+ (Stable) and moved to ‘Issuer Not Cooperating’
category due to non submission of no default statement
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$: 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)
