19
0
(Repeating to add additional ratings as of March 1 and 4 2019)
Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 1 and 4 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Abt Industries Ltd ST: Non-FBL ICRA A4+ 7.5 Outstanding
Bajaj Electricals Ltd ST - FBL ICRA A1+ 3150 Outstanding
Bajaj Electricals Ltd ST – CP ICRA A1+ 5000 Outstanding
Concord Biotech Ltd ST non-fund based LOC ICRA A1+ 60 Assigned
Golden Star Facilities And ST fund based ICRA A1+ - Reaffirmed
Services Pvt Ltd (sublimit) (SO)
Golden Star Facilities And ST non-fund based ICRA A1+ - Reaffirmed
Services Pvt Ltd (sublimit) (SO)
H.G. Infra Engineering Ltd Non-fund Based - BG ICRA A1 10000 Reaffirmed
H.G. Infra Engineering Ltd Non-fund Based - ICRA A1 800 Reaffirmed
Proposed BG
Indutch Composites Technology Non-fund based ICRA A3+ 170 Assigned
Pvt. Ltd. Working Capital Fac
Jaina Mobile India Pvt Ltd ST- Unallocated ICRA A3+ 20 Rating
revised from
ICRA A2+
Mitc Rolling Mills Pvt Ltd ST - Fund Based ICRA A2+ 120 Upgraded
from ICRA A2
Mitc Rolling Mills Pvt Ltd ST - Non-Fund Based ICRA A2+ 250 Upgraded
from ICRA A2
Mitc Rolling Mills Pvt Ltd ST Unallocated ICRA A2+ 6.9 Upgraded
from ICRA A2
Orange Charanka Solar Energy Non-fund Based – BG ICRA A2+ 56.3 Upgraded
Pvt Ltd from ICRA A2
Qdigi Services Ltd Non-fund Based - ICRA A1+(SO) 200 Reaffirmed
Working Capital Fac
Repco Home Finance Ltd CP ICRA A1+ 8000 Reaffirmed
Rossell India Ltd Non FBL ICRA A2 25 Reaffirmed
Singhal Strips Ltd ST – LOC ICRA D 150 Revised from
ICRA A4+
Texport Industries Pvt Ltd ST: FB Fac ICRA A2+ 2250 Reaffirmed
Texport Industries Pvt Ltd ST: Non-FB Fac ICRA A2+ 100 Reaffirmed
Trans Tyres (India) Pvt Ltd Non-fund based-LOC ICRA A4+ 20 Reaffirmed
Trans Tyres (India) Pvt Ltd Non-fund ICRA A4+ 7.5 Reaffirmed
based-Forward Contract
Trans Tyres (India) Pvt Ltd Non-fund ICRA A4+ 182.5 Reaffirmed
based-Unallocated
Limit
Ufo Moviez India Ltd ST, Non-FB Fac ICRA A1+ 100 Outstanding
Dixon Technologies (India) Ltd FB - Working Capital ICRA A1+ 500 outstanding
(Erstwhile Dixon Technologies Fac
(India) Pvt Ltd)
Dixon Technologies (India) Ltd Non-fund Based - ICRA A1+ 2350
(Erstwhile Dixon Technologies Working Capital Fac
(India) Pvt Ltd) (ST scale)
Assigned/ outstanding
Dixon Technologies (India) Ltd Non-fund Based - ICRA A1+ 1500 outstanding
(Erstwhile Dixon Technologies Working Capital Fac
(India) Pvt Ltd) (ST scale - Interchangeable) ^
^ between non-fund based and fund based
Dixon Technologies (India) Ltd CP ICRA A1+ 250 outstanding
(Erstwhile Dixon Technologies
(India) Pvt Ltd)
Jaina India Pvt Ltd Proposed ST Bk Fac ICRA A3+ 7000
Rating revised to Provisional A3+ from Provisional 2+
Jaina Marketing & Associates ST non-fund based ICRA A3+ 5080
Rating revised from ICRA A2+
Jaina Marketing & Associates ST - unallocated ICRA A3+ 1920
Rating revised from ICRA A2+
Maestro Fashions Non-fund based ICRA A4+ 5 Reaffirmed
facility
Mecon Ltd Working Capital ICRA A2 400 Reaffirmed
Facility – Secured
Overdraft
Nelcast Ltd ST FB Limits ICRA A1+ 180 Reaffirmed
Nelcast Ltd ST Non-FBL ICRA A1+ 90 Reaffirmed
Nelcast Ltd CP Programme (CP) ICRA A1+ 300 Reaffirmed
Shri Ramalinga Mills Ltd Non-fund ICRA A4 155 Reaffirmed
Based-Working Capital
Fac
Suryoday Small Finance Bank Ltd CD programme ICRA A1+ 1300
Upgraded from ICRA A1
T.K. Engineering Consortium Non-FB Fac – BG ICRA C and 2320
Pvt Ltd ICRA A4
revised from ICRA B and ICRA A4; ratings removed from ‘Issuer Not Cooperating’ category
T.K. Engineering Consortium Unallocated Limits ICRA C and 200
Pvt Ltd ICRA A4
revised from ICRA B and ICRA A4; ratings removed from ‘Issuer Not Cooperating’ category
MEDIUM TERM RATINGS:
-------------------
Suryoday Small Finance Bank Ltd Fixed deposit MA+ - outstanding
programme
LONG TERM RATINGS:
-------------------
Abt Industries Ltd LT: Non-Convertible ICRA BB+ 100 Reaffirmed
debt
Abt Industries Ltd LT: TL ICRA BB+ 246.7 Outstanding
Abt Industries Ltd LT: FBL ICRA BB+ 450 Outstanding
Abt Industries Ltd LT: Non-FBL ICRA BB+ 6.5 Outstanding
Abt Industries Ltd LT: Unallocated ICRA BB+ 108.5 Outstanding
Bajaj Electricals Ltd LT - TL ICRA A+ 200 Outstanding
Bajaj Electricals Ltd LT - FBL ICRA A+ 3797 Outstanding
Bajaj Electricals Ltd LT-NCD programme ICRA A+ 2000 Final rating
Bajaj Electricals Ltd LT/ST - Non-FBL ICRA A+ / 27003 Outstanding
ICRA A1+
Bajaj Electricals Ltd LT/ST - Fund ICRA A+ / 13275 Outstanding
Based/NonFBL ICRA A1+;
Bajaj Electricals Ltd LT-NCD programme Provisional 1500 Outstanding
ICRA A+
Concord Biotech Ltd LT FB TL (Proposed) ICRA AA- 1000 assigned
/outstanding
Concord Biotech Ltd LT FB CC ICRA AA- 200 Assigned
Golden Star Facilities And LT Fund Based ICRA AA (SO) 240 Upgraded
Services Pvt Ltd from ICRA
AA- (SO)
H.G. Infra Engineering Ltd FB - CC ICRA A 1200 Reaffirmed
H.G. Infra Engineering Ltd FB - Proposed CC ICRA A 100 Reaffirmed
Indutch Composites Technology LT FB (TL) ICRA BBB 320 Assigned
Pvt. Ltd.
Indutch Composites Technology FB Working Capital FacICRA BBB 250 Assigned
Pvt. Ltd.
Jaina Mobile India Pvt Ltd LT fund based ICRA BBB 400 Rating
revised from
ICRA A
Kims Hospital Enterprises Pvt. FB - CC ICRA A (SO) 40 Reaffirmed
Ltd.
Kims Hospital Enterprises Pvt. FB - TL ICRA A (SO) 360 Reaffirmed
Ltd.
Krishna Institute Of Medical FB - CC ICRA A 500 Reaffirmed
Sciences Ltd
Krishna Institute Of Medical FB - TL ICRA A 1925.3 Reaffirmed
Sciences Ltd
Krishna Institute Of Medical LT/ST Non-FBL ICRA A/ICRA 36 Reaffirmed
Sciences Ltd A1
Krishna Institute Of Medical Unallocated Limits ICRA A/ICRA 838.7 Reaffirmed
Sciences Ltd A1
Mapsko Builders Pvt Ltd LT FB TL ICRA B+ 2420 Withdrawn
Mapsko Builders Pvt Ltd LT FB working capital ICRA B+ 100 Withdrawn
Mapsko Builders Pvt Ltd LT non-FBL ICRA B+ 300 Withdrawn
Mapsko Builders Pvt Ltd LT unallocated limits ICRA B+ 1180 Withdrawn
Master Staffing Solutions Pvt Fund Based - Working ICRA AA(SO) 90 Upgraded
Ltd Capital Fac from ICRA
AA-(SO);
Mitc Rolling Mills Pvt Ltd LT - Fund Based ICRA BBB+ 500 Upgraded
from ICRA BBB
Orange Charanka Solar Energy CC ICRA A- 50 Upgraded
Pvt Ltd from ICRA
BBB+
Qdigi Services Ltd CC ICRA AA(SO) 100 Upgraded
from ICRA
AA-(SO);
Ratabhe Renewable Energy Pvt Issuer rating ICRA BBB+ - Withdrawn
Ltd
Repco Home Finance Ltd LT Bk Fac ICRA AA- 15000 Reaffirmed
Repco Home Finance Ltd NCD ICRA AA- - Withdrawn*
^ICRA has withdrawn the long-term rating of AA-(Stable) for RHFL’s
non-convertible debenture (NCD) programmes aggregating Rs. 500.00 crore,
at the request of the company, as there is no amount outstanding
against these instruments.
Rossell India Ltd Fund Based – TL ICRA BBB+ 120 Downgraded
from ICRA A-
Rossell India Ltd Fund Based – Working ICRA BBB+ 1200 Downgraded
capital limits from ICRA A-
Shrem Resort Pvt Ltd TL ICRA BBB- 1400 Reaffirmed
Shrem Resort Pvt Ltd LT, FB limit ICRA BBB- 20 Reaffirmed
Singhal Strips Ltd Fund based - CC ICRA D 420 Revised from
ICRA BB+
Texport Industries Pvt Ltd LT: Term-loans ICRA A- 710 Reaffirmed
The Oriental Insurance Company CPA iAAA - Reaffirmed
Ltd.
The Oriental Insurance Company Proposed Subordinated ICRA AAA 7500 Assigned
Ltd. Debt Programme
Trans Tyres (India) Pvt Ltd Fund based- CC ICRA BB 40 Reaffirmed
Ufo Moviez India Ltd Long-TL ICRA AA- 870 Outstanding
Ufo Moviez India Ltd LT, FB Fac ICRA AA- 300 Outstanding
Usha Microns Pvt Ltd Issuer Rating ICRA BB - Assigned
World Steeltech (India) Pvt. Fund based- CC ICRA D 40 Withdrawn
Ltd.
(Issuer Not Cooperative)
World Steeltech (India) Pvt. Fund based-TL ICRA D 58 Withdrawn
Ltd.
(Issuer Not Cooperative)
World Steeltech (India) Pvt. Non- Fund based- BG ICRA D 15 Withdrawn
Ltd.
(Issuer Not Cooperative)
Aravon Services Pvt Ltd LT: Fund based / CC ICRA AA (SO) 70
Upgraded to ICRA AA (SO) from ICRA AA- (SO); outlook changed to Stable from Positive
Dixon Technologies (India) Ltd FB -TL ICRA A+ 75 outstanding
(Erstwhile Dixon Technologies
(India) Pvt Ltd)
Dixon Technologies (India) Ltd Unallocated Bk Fac ICRA A+ 20 Assigned
(Erstwhile Dixon Technologies /ICRA A1+
(India) Pvt Ltd)
Jaina India Pvt Ltd Proposed LT Bk Fac ICRA BBB 2000
Rating revised to Provisional BBB from Provisional A-; outlook changed from stable
to negative
Jaina Marketing & Associates LT fund based ICRA BBB 1200
Rating revised to BBB from A-; outlook changed from stable to negative
Jaina Marketing & Associates LT- unallocated ICRA BBB 800
Rating revised to BBB from A-; outlook changed from stable to negative
Kgi Clothing Pvt Ltd FB – LT ICRA D 82
Downgraded from ICRA BB-
Kgi Clothing Pvt Ltd FB – ST ICRA D 85
Downgraded from ICRA A4
Kgi Clothing Pvt Ltd Non FB – ST ICRA D 6
Downgraded from ICRA A4
Kgi Clothing Pvt Ltd LT/ST – Unallocated ICRA D 27
Downgraded from ICRA BB- / ICRA A4
Maestro Fashions CC ICRA BB+ 105 Reaffirmed
Mecon Ltd Non-fund based - LOC ICRA BBB 100 Reaffirmed
Mecon Ltd Non-fund based - BG ICRA BBB 3600 Reaffirmed
Mecon Ltd Unallocated Limits – ICRA BBB 990 Reaffirmed
LT/Short - Term /ICRA A2
Mfx Infotech Pvt Ltd LT: Fund based / CC ICRA AA (SO) 60
Upgraded to ICRA AA (SO) from ICRA AA- (SO); outlook changed to Stable from Positive
Nelcast Ltd LT FB Limits ICRA A+ 720
Reaffirmed; outlook revised to Stable from Positive
Nelcast Ltd LT/ST FB sub-limits ICRA -
A+/ICRA A1+
Reaffirmed; outlook to Stable from Positive
Nelcast Ltd Proposed LT/ST FB ICRA 180
Limits A+/ICRA A1+
Reaffirmed; outlook to Stable from Positive
Orra Fine Jewellery Pvt Ltd LT/ ST, ICRA A-(SO) 1200 Reaffirmed
Fundbased/Non-FB Fac / ICRA
A2+(SO)
Quesscorp Holdings Pte. Ltd. TL ICRA AA 1110
(SO)
Upgraded to ICRA AA (SO) from ICRA AA- (SO); outlook changed to Stable from Positive
Sai Marine Exports Pvt Ltd LT - Fund Based/ CC ICRA BBB 575 Withdrawn
Issuer Not Cooperating
Sai Marine Exports Pvt Ltd LT - Non Fund Based ICRA BBB 65 Withdrawn
Issuer Not Cooperating
Sai Marine Exports Pvt Ltd LT / ST - Non Fund ICRA 50 Withdrawn
Based BBB/ICRA A3+
Issuer Not Cooperating
Sai Marine Exports Pvt Ltd LT / ST - Unallocated ICRA 3.5 Withdrawn
LT fund based BBB/ICRA A3+
Issuer Not Cooperating
Shri Ramalinga Mills Ltd FB -TL ICRA BB- 120.4
Downgraded from ICRA BB
Shri Ramalinga Mills Ltd FB - Working Capital ICRA BB- 1120
Fac
Downgraded from ICRA BB
Shri Ramalinga Mills Ltd Unallocated limits ICRA BB- 735.8
Downgraded from ICRA BB
Suryoday Small Finance Bank Ltd LT Bk lines ICRA A - Withdrawn
Suryoday Small Finance Bank Ltd NCD ICRA A - Withdrawn
Suryoday Small Finance Bank Ltd NCD ICRA A 600 outstanding
Suryoday Small Finance Bank Ltd Subordinated debt ICRA A 500 outstanding
programme
T.K. Engineering Consortium FBL – CC ICRA C 280
Pvt Ltd
Downgraded from ICRA B; ratings removed from ‘Issuer Not Cooperating’ category
The Industrial Development FB Limit – CC ICRA B+ 100 Withdrawn
Corporation Of Odisha Ltd.
--------------------------------------------------------------------------------------------
$: 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)
Source: reuters
