19
0
(Repeating to add additional ratings as of May 17, 2019)
Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 17, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Aditya Auto Products & ST-Fund based ICRA A2 493.5 Reaffirmed
Engineering (I) Pvt Ltd
Aditya Auto Products & ST-Non- fund based ICRA A2 112.5 Reaffirmed
Engineering (I) Pvt Ltd
Axis Securities Ltd ST FB Bk Fac ICRA A1+ 500 Assigned
Axis Securities Ltd ST non-fund based Bk ICRA A1+ 2000 Assigned
Fac
Axis Securities Ltd CP programme ICRA A1+ 1000 Reaffirmed
Genus Electrotech Ltd Non-fund Based - LOC ICRA A3 932 revised from
ICRA A3+
Jm Financial Products Ltd CP (IPO Financing) ICRA A1+ 15000 outstanding
programme
Jm Financial Products Ltd CP (CP) Programme ICRA A1+ 45000 outstanding
Lumino Industries Ltd Non-FB Fac – LOC ICRA A2+ - Withdrawn
Lumino Industries Ltd Non-FB Fac – BG ICRA A2+ - Withdrawn
Luxmi Tea Company Pvt Ltd FB – ST Loan ICRA A2+ - Revised from
ICRA A1
Munjal Auto Industries Ltd ST Fund based ICRA A1+ 150 Outstanding
Hamsa Minerals & Exports ST - FB ICRA D 100 revised from
ICRA A4
Rating continues to remain under ‘(Issuer not cooperating)’ category
Munjal Auto Industries Ltd ST Non-fund based ICRA A1+ 166.4 Outstanding
Munjal Auto Industries Ltd CP ICRA A1+ 150 Outstanding
Reliance Nippon Life Asset Reliance Overnight ICRA A1+mfs - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Liquid Fund ICRA A1+mfs - Outstanding
Management Ltd
Reliance Nippon Life Asset Reliance Money Market ICRA A1+mfs - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Interval ICRA A1+mfs - Outstanding
Management Ltd Fund – Quarterly
Interval Fund – Series III
Reliance Nippon Life Asset Reliance Interval ICRA A1+mfs - Outstanding
Management Ltd Fund – Monthly
Interval Fund – Series I
Reliance Nippon Life Asset Reliance Interval ICRA A1+mfs - Outstanding
Management Ltd Fund – Monthly
Interval Fund – Series II
Reliance Nippon Life Asset Reliance Interval ICRA A1+mfs - Outstanding
Management Ltd Fund - Quarterly
Interval Fund - Series II
Reliance Nippon Life Asset Reliance Ultra Short ICRA A1mfs@ - downgraded
Management Ltd Duration Fund from ICRA
A1+mfs and
@Under rating Watch with Negative Implications
Religare Broking Ltd ST Bk Lines ICRA A4@ 6000 downgraded
from ICRA A3@
(Rs. 339 crore outstanding).
'@ - Rating Watch with Negative Implications
Religare Broking Ltd CP Programme ICRA A4@ 4000 downgraded
from ICRA A3@
@ - Rating Watch with Negative Implications
Religare Housing Development ST Debt Programme ICRA A3@ 1000 revised to
Finance Corporation Ltd ICRA A4@;
@ - Rating Watch with Negative Implications
Same Deutz-Fahr India Pvt Ltd ST – Fund based ICRA A1+ - Reaffirmed
(sublimit)
Same Deutz-Fahr India Pvt Ltd ST – Non Fund based ICRA A1+ - Reaffirmed
(sublimit)
Sharekhan Bnp Paribas CP Programme (IPO ICRA A1+ - Withdrawn
Financial Services Pvt Ltd Financing)
Sharekhan Bnp Paribas CP Programme ICRA A1+ 10000 Outstanding
Financial Services Pvt Ltd
Sri Vinayakha Spinning Mills ST – Non-fund based ICRA A4 19.6 -
Pvt Ltd
(Issuer not cooperating)
Taj Sats Air Catering Ltd ST, Non-FBL ICRA A1+ 20 Reaffirmed
Thirumalai Chemicals Ltd ST; Non-FB Fac ICRA A1+ 4070 Reaffirmed
LONG TERM RATINGS:
-------------------
Aditya Auto Products & LT-TL ICRA BBB+ 154 Reaffirmed
Engineering (I) Pvt Ltd
Aditya Auto Products & LT-Fund based/CC ICRA BBB+ 420 Reaffirmed
Engineering (I) Pvt Ltd
Caddie Hotels Pvt Ltd TL ICRA BBB+ 2500 Reaffirmed
Caddie Hotels Pvt Ltd Non-FBL ICRA BBB+ 600 Reaffirmed
/ICRA A2
Divine Titanium Pvt Ltd LT FB - Proposed TL ICRA B- 120 Assigned
Genus Electrotech Ltd FB - TL ICRA BBB- 330 revised from
ICRA BBB
Genus Electrotech Ltd FB - CC ICRA BBB- 888 revised from
ICRA BBB
Genus Electrotech Ltd Non-fund Based - BG ICRA BBB- 180 revised from
ICRA BBB
Guruvayoor Infrastructure Pvt TL ICRA BBB 2591.2 Reaffirmed
Ltd
Guruvayoor Infrastructure Pvt NCD ICRA BBB 895.3 Reaffirmed
Ltd
Hamsa Minerals & Exports LT - FB - CC ICRA D 35 revised from
ICRA B-
Rating continues to remain under ‘(Issuer not cooperating)’ category
Hamsa Minerals & Exports LT - FB TL ICRA D 33.5 revised from
ICRA B-
Rating continues to remain under ‘(Issuer not cooperating)’ category
Hamsa Minerals & Exports LT / ST - Unallocated ICRA D 23.5 revised from
ICRA B- /A4
Rating continues to remain under ‘(Issuer not cooperating)’ category
Ibrox Real Estate Development Fund Based- TL ICRA]BBB+ 3050 Reaffirmed
Pvt Ltd
Jm Financial Products Ltd LT Bk Lines ICRA AA 25000 assigned/
outstanding
Jm Financial Products Ltd NCD Programme ICRA AA 5700 outstanding
Jm Financial Products Ltd NCD Programme ICRA AA 19300 outstanding
Jm Financial Products Ltd NCD Programme (Public ICRA AA 20000 outstanding
Issue)
Jm Financial Products Ltd LT Market Linked PP-MLD 4550 outstanding
Debentures (Principal ICRA AA
Protected)
K.R.K. Educational Trust LT – FB TL ICRA C 300 -
(Issuer not cooperating)
Lumino Industries Ltd FB Fac - CC ICRA A- - Withdrawn
Lumino Industries Ltd FB Fac – Bills ICRA A- - Withdrawn
discounting under LOC
Lumino Industries Ltd Issuer Rating ICRA A- - Withdrawn
Luxmi Tea Company Pvt Ltd FB-TL ICRA A- 980 Revised from
ICRA A
Luxmi Tea Company Pvt Ltd FB – CC ICRA A- 295 Revised from
ICRA A
Munjal Auto Industries Ltd LT Fund based/ CC ICRA AA- 150 Outstanding
Munjal Auto Industries Ltd LT Fund based TL ICRA AA- 795.9 Outstanding
Munjal Auto Industries Ltd LT/ ST Unallocated ICRA AA- / 37.7 Outstanding
ICRA A1+
Pan India Infraprojects Pvt Ltd Long-TL ICRA D 6410 revised from
ICRA BB-
Pan India Infraprojects Pvt Ltd LT, Unallocated LimitsICRA D 5590 revised from
ICRA BBB-
Prp Professional Edge Bk Fac Programme ICRA BB - Withdrawn
Associates Pvt Ltd
Ramani Hotels Ltd FBL – TL ICRA B 186.4 Withdrawn
(Issuer not cooperating)
Ramani Hotels Ltd FBL – CC ICRA B 155 Withdrawn
(Issuer not cooperating)
Ramani Hotels Ltd Unallocated Limit ICRA B / 38.6 Withdrawn
ICRA A4
(Issuer not cooperating)
Reliance Nippon Life Asset Reliance Strategic ICRA A+mfs@ - downgraded
Management Ltd Debt Fund from ICRA
AAmfs and
placed on
rating watch
with negative
implications
@Under rating Watch with Negative Implications
Reliance Nippon Life Asset Reliance Low Duration ICRA AAAmfs - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Bking & PSU ICRA AAAmfs - Outstanding
Management Ltd Debt Fund
Reliance Nippon Life Asset Reliance Dynamic Bond ICRA AAAmfs - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Floating ICRA AAAmfs - Outstanding
Management Ltd Rate Fund
Reliance Nippon Life Asset Reliance Income Fund ICRA AAAmfs - Outstanding
Management Ltd
Reliance Nippon Life Asset Reliance ST Fund ICRA AAAmfs - Outstanding
Management Ltd
Reliance Nippon Life Asset Reliance Prime Debt ICRA AA-mfs@ - downgraded
Management Ltd Fund from ICRA
AAAmfs and
placed on
rating watch
with negative
implications
@Under rating Watch with Negative Implications
Religare Housing Development LT/ST Bk Limits ICRA 12000 revised to
Finance Corporation Ltd BBB-@/ICRA ICRA
A3@ BB@/ICRA A4@;
@ - Rating Watch with Negative Implications
Same Deutz-Fahr India Pvt Ltd LT – FB Fac ICRA AA- 800 Reaffirmed
Snn Builders Pvt Ltd LT- Fund Based- TL ICRA]BBB+ 850 Reaffirmed
Snn Builders Pvt Ltd LT- Unallocated ICRA]BBB+ 670 Reaffirmed
Snn Homes Llp Fund Based- TL ICRA BBB+ 1240 Reaffirmed
Snn Properties Llp Fund Based- CC ICRA]BBB+ 1990 Reaffirmed
Snn Spiritua Developers Fund Based- TL ICRA]BBB+ 500 Withdrawn
Sri Vinayakha Spinning Mills LT – FB CC ICRA BB- 75 -
Pvt Ltd
(Issuer not cooperating)
Sri Vinayakha Spinning Mills LT – FB TL ICRA BB- 55.4 -
Pvt Ltd
(Issuer not cooperating)
Sri Vinayakha Spinning Mills LT/ST – Unallocated ICRA BB- 16.7 -
Pvt Ltd /ICRA A4
(Issuer not cooperating)
Srinath Agencies Fund based ICRA BB 87.5 Withdrawn
(Issuer not cooperating)
Srinath Agencies Unallocated ICRA BB 112.5 Withdrawn
(Issuer not cooperating)
Taj Sats Air Catering Ltd LT, FB Limits ICRA AA- 80 Reaffirmed
Taj Sats Air Catering Ltd Unallocated ICRA AA- 90 Reaffirmed
Taj Sats Air Catering Ltd LT/ST, FB/ Non-FBL ICRA AA- - Reaffirmed
(Sublimit of LT, FB /ICRA A1+
Limits)
Tata Power Renewable Energy Ltd NCDs ICRA AA- 5000 Assigned
Tata Power Renewable Energy Ltd Non-FB limit ICRA AA- 7000 Outstanding
Tata Power Renewable Energy Ltd FB TL ICRA AA- 5000 Outstanding
Tata Power Renewable Energy Ltd Unallocated ICRA AA- 5000 Outstanding
Thirumalai Chemicals Ltd TL ICRA A+ 2000 Assigned
Thirumalai Chemicals Ltd LT; FB Fac ICRA A+ 2082 Reaffirmed
Thirumalai Chemicals Ltd LT / ST; Unallocated ICRA A+ /A1+ 94 Reaffirmed
--------------------------------------------------------------------------------------------
$: 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
