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Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 16, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Capstone Ceramic (India) Llp Non FB – BG ICRA A4 12.1 -
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Colorant Ltd - Capstone Non-fund Based LOC ICRA A4 20 -
Ceramic (India) Llp
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Fullerton India Credit Co. Ltd CP programme ICRA A1+ 45000 Outstanding
Fullerton India Credit Co. Ltd ST debt programme ICRA A1+ 10000 Outstanding
Hanuman Agro Products ST-Fund Based ICRA A4 17.5 -
(Continues to remain under the ‘Issuer Not Cooperating’ category)
J.K Transformers ST non fund based ICRA A4 30 -
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Kailash Trading Corporation ST – FB Fac ICRA A4 1.3 -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Kailash Trading Corporation ST – Non FB Fac ICRA A4 61 -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Kakinada Seaports Ltd ST, non-FB Fac ICRA A1 1250 Reaffirmed
Kansara Forge & Wires Pvt Ltd ST nonfund based ICRA A4 20 -
(Continues to remain under the ‘Issuer Not Cooperating’ category on information)
Shapoorji Pallonji CP ICRA A2 - -
Infrastructure Capital Company
Pvt Ltd
(Downgraded from ICRA A2+ and withdrawn)
Shapoorji Pallonji Fund based – ST Loan ICRA A2 1350 Downgraded
Infrastructure Capital Company from ICRA A2+
Pvt Ltd
LONG TERM RATINGS:
-------------------
Asa International India NCD Programme ICRA 3135.4 Reaffirmed
Microfinance Ltd BBB(Stable)
Asa International India TL ICRA 8000 Reaffirmed
Microfinance Ltd BBB(Stable)
Asianlak Health Foods Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Capstone Ceramic (India) Llp FB – CC ICRA B+ 30 -
(Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Capstone Ceramic (India) Llp FB – TL ICRA B+ 70.5 -
(Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Colorant Ltd - Capstone FB – CC ICRA BB- 90 -
Ceramic (India) Llp (Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Colorant Ltd - Capstone FB – TL ICRA BB- 5.5 -
Ceramic (India) Llp (Stable)
(Reason for delay in carrying out periodic review: - Issuer not cooperating)
Eagle Extrusion Pvt Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Ekam Agro Pvt Ltd LT - Fund Based/ CC ICRA 40 -
B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ekam Agro Pvt Ltd LT - Fund Based TL ICRA 110 -
B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ekam Agro Pvt Ltd LT / ST - Unallocated ICRA 30 -
B+(Stable)
/ A4
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Fullerton India Credit Co. Ltd NCD programme ICRA 50000 Assigned
AAA(stable)
Fullerton India Credit Co. Ltd Retail NCD programme ICRA 20000 Outstanding
AAA(stable)
Fullerton India Credit Co. Ltd LT Bk lines ICRA 80000 Outstanding
AAA(stable)
Fullerton India Credit Co. Ltd Issuer Rating ICRA - Outstanding
AAA(stable)
Fullerton India Credit Co. Ltd NCD programme ICRA 34640 Outstanding
AAA(stable)
Fullerton India Credit Co. Ltd Subordinated debt ICRA 8880 Outstanding
programme AAA(stable)
Hanuman Agro Products LT fund based (CC ICRA B 40 -
Limit) (Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Hanuman Agro Products LT fund based (TL) ICRA B 5 -
(Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Hanuman Agro Products Unallocated ICRA B 17.5 -
(Stable) /
A4
(Continues to remain under the ‘Issuer Not Cooperating’ category)
J.K Transformers LT fund based (CC ICRA B 30 -
Limit) (Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category)
Jineshwar Malleable & Alloys LT – Fund Based – CC ICRA 40 -
B+(Stable)
(Rating downgraded from ICRA BB- (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Jineshwar Malleable & Alloys LT – Fund Based – TL ICRA 20 -
B+(Stable)
(Rating downgraded from ICRA BB- (Stable) and continues to remain under ‘Issuer Not Cooperating’
category)
Jineshwar Malleable & Alloys LT/ ST – Unallocated ICRA 5 -
B+(Stable)
/ A4
(Long term rating downgraded from ICRA BB- (Stable); Ratings continues to remain under ‘Issuer
Not Cooperating’ category)
Kailash Trading Corporation LT – CC ICRA B 40 -
(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Kailash Trading Corporation LT – TL ICRA B 2.7 -
(Stable)
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Kailash Trading Corporation LT/ ST - Unallocated ICRA B 45 -
(Stable)/ A4
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Kakinada Seaports Ltd LT TL ICRA A 2817.6 Reaffirmed
(Stable)
Kakinada Seaports Ltd LT FB Fac ICRA A 500 Reaffirmed
(Stable)
Kakinada Seaports Ltd LT unallocated ICRA A 857 Reaffirmed
(Stable)
Kansara Forge & Wires Pvt Ltd LT fund based (CC ICRA 25 -
Limit) B+(Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category on information)
Kansara Forge & Wires Pvt Ltd LT fund based (TL) ICRA 35 -
B+(Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category on information)
Karvy Financial Services Ltd LT Bk Lines (Basel II)ICRA B- 1743.6 Downgraded
(negative) from ICRA
BBB(Stable)
Karvy Financial Services Ltd Sub Debt Programme ICRA B- 300 Downgraded
(negative) from ICRA
BBB(Stable)
Lapp India Pvt Ltd FB/Non-fund based - ICRA 700 Reaffirmed
Working Capital Fac A-(Stable)
/ ICRA A2+
Lapp India Pvt Ltd Unallocated Limits ICRA 20 Reaffirmed
A-(Stable)
/ ICRA A2+
Mac-Chem Products (India) Pvt - - - -
Ltd
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Magma Fincorp Ltd TL (Bk) ICRA AA- 20566.7 Reaffirmed
(Negative)
(Outlook revised to Negative from Stable)
Magma Fincorp Ltd NCD Programme ICRA AA- 3350 Reaffirmed
(Negative)
(Outlook revised to Negative from Stable)
Magma Housing Finance Ltd TL (Bk) ICRA AA- 11221.1 Reaffirmed
(Negative)
(Outlook revised to Negative from Stable)
Magma Housing Finance Ltd NCD Programme ICRA AA- 500 Reaffirmed
(Negative)
(Outlook revised to Negative from Stable)
Maruti Ginning And Pressing - - - -
Industries
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Mewad Polymers Pvt Ltd LT - Fund Based/ CC ICRA 60 Downgraded
B+(Stable) from ICRA
BB-(Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category on information)
Mewad Polymers Pvt Ltd LT - Fund Based TL ICRA 40 Downgraded
B+(Stable) from ICRA
BB-(Stable)
(Continues to remain under the ‘Issuer Not Cooperating’ category on information)
Pahal Financial Services Pvt. PTC Series A2 ICRA A-(SO) 8.6 Confirmed as
Ltd - Northern Arc 2019 Mfi final
Sachs
Pahal Financial Services Pvt. PTC Series A1 ICRA A+(SO) 120 Confirmed as
Ltd - Northern Arc 2019 Mfi final
Sachs
Peninsula Land Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Prompt Terminals Pvt Ltd LT fund based – CC ICRA B+ 15 Withdrawn
(Stable)
(Issuer not Cooperating)
Prompt Terminals Pvt Ltd LT fund based – TL ICRA B+ 185 Withdrawn
(Stable)
(Issuer not Cooperating)
Sh Protein Foods Pvt Ltd Fund based – CC ICRA BBB+ 56 Withdrawn
(CE)
(Positive)
Sh Protein Foods Pvt Ltd FB –TL ICRA BBB+ 135.5 Withdrawn
(CE)
(Positive)
Shapoorji Pallonji Non-FBL ICRA A(CE) 5000 -
Infrastructure Capital Company
Pvt Ltd
(Downgraded from ICRA A+(CE), rating removed from watch with developing implications and
‘Negative’ outlook assigned)
Shapoorji Pallonji Non-FBL ICRA A+(CE) 4620 -
Infrastructure Capital Company
Pvt Ltd
(Downgraded from ICRA AA- (CE), rating removed from watch with developing implications and
‘Negative’ outlook assigned)
Shapoorji Pallonji Fund based-TL ICRA BBB+ 9150 -
Infrastructure Capital Company
Pvt Ltd
(Downgraded from ICRA A-, rating removed from watch with developing implications and ‘Negative’
outlook assigned)
Shapoorji Pallonji FBL (sub-limit of ICRA BBB+/A2 - -
Infrastructure Capital Company non-FBL)
Pvt Ltd
(Long-term rating: ICRA BBB+; downgraded from ICRA A-, rating removed from watch with developing
implications and ‘Negative’ outlook assigned; Short-term rating: ICRA A2; downgraded from ICRA
A2+)
Shapoorji Pallonji Non-FBL ICRA BBB+/A2 21250 -
Infrastructure Capital Company
Pvt Ltd
(Downgraded from ICRA A-, rating removed from watch with developing implications and ‘Negative’
outlook assigned; Short-term rating: ICRA A2; downgraded from ICRA A2+)
Shorapur Solar Power Ltd LT - TL ICRA 383.6 Downgraded
BB+(Stable) from ICRA
BBB-(Stable)
Shorapur Solar Power Ltd LT – Unallocated ICRA 66.4 Downgraded
limits BB+(Stable) from ICRA
BBB-(Stable)
Sitaram India Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Stelis Biopharma Pvt. Ltd Fund Based – TL ICRA A (CE) 3800 Downgraded
(Stable) from ICRA A+
(SO)
(Rating removed from Watch with Developing Implications; Stable outlook assigned)
Uniflex Industries Pvt Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Urbanedge Hotels Pvt Ltd FB -TL ICRA C+ 1120 Reaffirmed
Vihaan Boards Pvt Ltd - - - -
(Due to non submission of monthly ‘No Default Statement’ (“NDS”) by the entity)
Woolways (India) Ltd Long/ST Fund based ICRA D/D 100 -
(Continues to remain under the ‘Issuer Not Cooperating’ category)
--------------------------------------------------------------------------------------------
$: 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)
tags:
ICRA RAtings
