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ICRA ratings for Indian debt instruments-Dec 6

ICRA ratings for Indian debt instruments-Dec 6

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Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 5, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Abis Sampoorna Llp                      Non-fund Based – BG** ICRA A3      -       Reaffirmed
**sub-limit of Cash Credit
Api Ispat And Powertech Pvt Ltd         Non-FBL               ICRA A1;     460     Reaffirmed
Icomm Tele Ltd                          ST – Non fundbased    ICRA D       9635.3
                                        limits
Rating continues to be in ‘Issuer Not Cooperating’ category
Belaire Hotels Pvt Ltd                  ST, non-FBL           ICRA A4+     460     Reaffirmed
Gopal Sweets Pvt Ltd                    LT: Fund Based –      ICRA A3      50      Reaffirmed
                                        Overdraft
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2+(CE) -       Reaffirmed
Hyundai Steel India Pvt Ltd             FB and non-FB Fac     ICRA A2+(CE) -       Reaffirmed
Hyundai Steel India Pvt Ltd             FB Fac                ICRA A3+     -       Reaffirmed
Nelcast Ltd                             ST FB Limits          ICRA A1      200     revised from
                                                                                   ICRA A1+
Nelcast Ltd                             ST Non-FBL            ICRA A1      90      revised from
                                                                                   ICRA A1+
Nelcast Ltd                             ST FB sub-limits      ICRA A1      -       revised from
                                                                                   ICRA A1+
Nelcast Ltd                             CP Programme (CP)     ICRA A1      300     revised from
                                                                                   ICRA A1+
Parakh Agro Industries Ltd              ST - Non-fund based   ICRA A2+     320     Reaffirmed
Qua Water Technologies Pvt.             ST non-fund based     ICRA A4      22.5    Reaffirmed
Ltd.
Rasayano                                ST - Non-Fund Based   ICRA A4+     140     Reaffirmed
Rasayano                                ST - Unallocated      ICRA A4+     20      Reaffirmed
Real Ispat & Power Ltd                  Non-FBL               ICRA A1      250     Reaffirmed
Sembcorp Energy India Ltd               CP                    ICRA A1+     5000    Assigned
Sisco Research Laboratories             ST, Non-FBL           ICRA A4+     2       Reaffirmed
Pvt Ltd
Sisco Research Laboratories             ST, Interchangeable   ICRA A4+     -       Reaffirmed
Pvt Ltd
Spaceage Associates Power               Non-fund based – LOC/ ICRA A4      450     Withdrawn
Infra Pvt Ltd                           BG
Vidya Polymer Pvt Ltd                   ST - Non-FBL          ICRA A4      15      Reaffirmed
(removed from issuer non cooperating category)


LONG TERM RATINGS:
-------------------
Abis Sampoorna LLP                      FB- TL                ICRA BBB-    600     Reaffirmed
                                                              (Stable)
Abis Sampoorna LLP                      FB – CC               ICRA BBB-    150     Reaffirmed
                                                              (Stable)
Abis Sampoorna LLP                      FB – Working Capital  ICRA BBB-    -       Reaffirmed
                                        Demand Loan **        (Stable)
**sub-limit of Cash Credit
Abis Sampoorna LLP                      FB – Overdraft **     ICRA BBB-    -       Reaffirmed
                                                              (Stable)
**sub-limit of Cash Credit
Abis Sampoorna LLP                      Unallocated Limit     ICRA BBB-    50      Reaffirmed
                                                              (Stable)/
                                                              ICRA A3
Aditya Rice Industries                  Fund based –TL        -            -       Reaffirmed
Aditya Rice Industries                  Fund based - CC       ICRA B+      90      Reaffirmed
                                                              (Stable)
Aditya Rice Industries                  Unallocated Limits    ICRA B+      40      Reaffirmed
                                                              (Stable);
Ads Spirits Pvt Ltd                     LT: Fund Based/CC     ICRA BBB+    210     upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB (Stable)
Ads Spirits Pvt Ltd                     LT: Fund Based/TL     ICRA BBB+    40.3    upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB (Stable)
Ads Spirits Pvt Ltd                     LT: Unallocated       ICRA BBB+    349.7   upgraded
                                                              (Stable)             from ICRA
                                                                                   BBB (Stable)
Amplus Energy Solutions Pvt Ltd         NFBL                  ICRA A       150     Upgraded
                                                                                   from
                                                                                   Provisional
                                                                                   ICRA A-(CE)
(removed from rating watch with positive implications)
Amplus Energy Solutions Pvt Ltd         Fund based-TL         ICRA A+(CE)  887.6   Upgraded
                                                                                   from ICRA
                                                                                   A-(CE)
(removed from rating watch with positive implications)
Amplus Jyotimangal Energy Pvt           Fund based-TL         ICRA A+(CE)  37.4    Upgraded
Ltd                                                                                from ICRA
                                                                                   A-(CE);
(removed from rating watch with positive implications); Stable outlook assigned
Amplus Kn One Power Pvt Ltd             LT/ ST/ fund based/   ICRA A+(CE)  1149.5  Upgraded
                                        non- FBL              /ICRA A1(CE)         from ICRA
                                                                                   A-(CE)%/
                                                                                   A2+(CE)%;
removed from rating watch; Stable outlook assigned
Amplus Sun Solutions Pvt Ltd            Fund based-TL         ICRA]A+(CE)  44.2    Upgraded
                                                                                   from ICRA
                                                                                   A-(CE);
Outlook revised to (Stable) from Rating under watch with positive implications
Ananth Solar Power Maharashtra          Fund based-TL         ICRA A+(CE)  74.7    Upgraded
Pvt Ltd                                                                            from ICRA
                                                                                   A-(CE);
Api Ispat And Powertech Pvt Ltd         FB working capital    ICRA A+      500     Reaffirmed
                                                              (Stable);
Ayana Renewable Power Pvt Ltd           Unallocated           -            -       Reaffirmed
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A+ &    4500    Reaffirmed
& Rating watch with developing implications
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A+ &    500     Reaffirmed
& Rating watch with developing implications
Belaire Hotels Pvt Ltd                  TL                    ICRA BB+     1626    Reaffirmed
Burger King India Ltd                   LT - TL               ICRA                 Assigned
                                                              BBB+(Stable)
Burger King India Ltd                   LT - Unallocated      ICRA                 Assigned
                                        amount                BBB+(Stable)
Eye-Q Vision Pvt Ltd                    NCD (NCD) Programme   ICRA B       40      Withdrawn
Gopal Sweets Pvt Ltd                    LT: Fund Based – TL   ICRA BBB-    140     Reaffirmed
outlook revised from Stable to Negative
Graphic Era Educational Society         Unallocated Bk Fac    ICRA BB+     1859    Withdrawn
Graphic Era Educational Society         LT fund based Bk Fac  ICRA BB+     1711    Withdrawn
                                        (TL)
Graphic Era Educational Society         LT fund based Bk Fac  ICRA BB+     430     Withdrawn
                                        (optionally
                                        convertible debenture/CC)
Hero Solar Energy Pvt Ltd               NCD Programme (NCD)   ICRA A       3750    -
                                                              (Negative)
rating revised from ICRA A+ (Negative)
Hero Solar Energy Pvt Ltd               Proposed NCD          ICRA A       1000    -
                                                              (Negative)
rating revised from ICRA A+ (Negative)
Hero Solar Energy Pvt Ltd               TL                    ICRA A       2000    -
                                                              (Negative)
rating revised from ICRA A+ (Negative)
Hero Wind Energy Pvt. Ltd.              NCD 315 Programme     ICRA A       4150    -
                                        (NCD)                 (Negative)
rating revised from ICRA A+ (Negative)
Hero Wind Energy Pvt. Ltd.              Proposed NCD          ICRA A       1500    -
                                                              (Negative)
rating revised from ICRA A+ (Negative)
Hyundai Steel India Pvt Ltd             FB sub-limits         ICRA A-(CE)  -       long-term
                                                              / ICRA               rating
                                                              A2+(CE)
Icomm Tele Ltd                          Fund based-TL         ICRA D       4525
Rating continues to be in ‘Issuer Not Cooperating’ category
Icomm Tele Ltd                          Fund based-CC         ICRA D       3471.7
Rating continues to be in ‘Issuer Not Cooperating’ category
Icomm Tele Ltd                          LT Unallocated Limits ICRA D       6274.4
Rating continues to be in ‘Issuer Not Cooperating’ category Amount Rating Action (Rs. crore)
Nelcast Ltd                             LT FB Limits          ICRA         1600    Reaffirmed
                                                              A+(Negative)
outlook revised from Stable
Nelcast Ltd                             Proposed LT/ST FB     ICRA         110     ICRA A1
                                        Limits                A+(Negative)         revised from
                                                                                   ICRA A1+
Parakh Agro Industries Ltd              LT – FB TL            ICRA A-      420.6   Downgraded
                                                                                   from ICRA
                                                                                   A(Stable)
Parakh Agro Industries Ltd              LT – FB/ CC           ICRA A-      1120    Downgraded
                                                                                   from ICRA
                                                                                   A(Stable)
Parakh Agro Industries Ltd              LT / ST – Unallocated ICRA A-/A2+  139.4   -
Qua Water Technologies Pvt.             LT FB                 ICRA BB      30      Reaffirmed
Ltd.
Qua Water Technologies Pvt.             LT proposed           ICRA BB      17.5    Reaffirmed
Ltd.
Raghu Rama Rice Industry                Fund based - CC       ICRA B+      120     Reaffirmed
Raghu Rama Rice Industry                Fund based –TL        ICRA B+      10      Reaffirmed
Raghu Rama Rice Industry                Unallocated limits    ICRA B+      30      Reaffirmed
Real Ispat & Power Ltd                  FB working capital    ICRA A+      450     Reaffirmed
Sathyanarayana Agro Industries          FBL -C.C              ICRA B+      90      Reaffirmed
Sisco Research Laboratories             LT, FB- CC Limit      ICRA BB      90      Reaffirmed
Pvt Ltd
Sisco Research Laboratories             LT, FB- TL            ICRA BB      63.2    Reaffirmed
Pvt Ltd
Sisco Research Laboratories             Unallocated Limit     ICRA BB/     -       Reaffirmed
Pvt Ltd                                                       ICRA A4+
Spaceage Associates Power               Fund based – CC       ICRA BB-     135     Withdrawn
Infra Pvt Ltd
Sprint Telefilms Pvt Ltd                LT: Fund based        ICRA BB      39.5    Reaffirmed
Sprint Telefilms Pvt Ltd                LT: Unallocated       ICRA BB      30.5    Reaffirmed
Sunterrace Energy One Pvt Ltd           Fund based-TL         ICRA A+(CE)  113.2   Upgraded
                                                                                   from ICRA
                                                                                   A-(CE)
(removed from rating watch with positive implications)
Tata Sia Airlines Ltd                   LT/ST non -fund based ICRA A/A1    15511.5 Assigned to
                                                                                   enhanced
                                                                                   limit
Tata Sia Airlines Ltd                   Unallocated           ICRA A/A1    28009.5 Assigned to
                                                                                   enhanced
                                                                                   limit
Thirumeni Finance Pvt Ltd               PTC Series A2         ICRA A(SO)   -       Reaffirmed
-Northern Arc 2018 Sbl Sombrero
Thirumeni Finance Pvt Ltd               PTC Series A1         ICRA AA(SO)  -       Reaffirmed
-Northern Arc 2018 Sbl Sombrero
Vidya Polymer Pvt Ltd                   LT - FB limits        ICRA BB      45      Revised from
                                                                                   ICRA BB-
(removed from issuer non cooperating category)
Vidya Polymer Pvt Ltd                   LT - TL               ICRA BB      35      Revised from
                                                                                   ICRA BB-
(removed from issuer non 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.

Source: reuters
tags:
Anand Gupta Editor - EQ Int'l Media Network

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