Dec 29 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of December 28, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
ABC Transformers Pvt Ltd ST- Non fund based ICRA A4 25
Rating continues to remain in the ‘Issuer not Cooperating’ category
Abhishek Steel Industries Ltd Non-FBL ICRA A4 100
Rating continues to remain under ‘Issuer not Cooperating’ category
Abm Tele Mobiles India Pvt Ltd Non-fund Based – ICRA A3+ 260 Reaffirmed
Working Capital Fac
Akanksha Automobiles (P) Ltd ST – Unallocated ICRA A4 60
Rating continues to remain in the ‘Issuer not Cooperating’ category
Alpine Poly Rub Pvt Ltd ST – Non-Fund Based ICRA A4 40
Rating downgraded from ICRA A4+ continues to remain under ‘Issuer not Cooperating’ category
Genisys Information Systems (India) Pvt ST- Non-fund based ICRA A4+ 15
Ltd
Issuer delayed in giving Information
Iifl Home Finance Ltd CP programme ICRA A1+ 50000
Review process is underway
J. P. Flour Mills Pvt Ltd ST – Non Fund Based ICRA A4 40
Rating continue to remain under the ‘Issuer not Cooperating’ category
Jupiter Wagons Ltd Non-fund Based – ICRA A2+ 2935 Assigned
Working Capital Fac
Jupiter Wagons Ltd Fund Based – Working ICRA A2+ 30 Assigned
Capital Fac
LIC Mutual Fund Asset Management Ltd LIC MF Liquid Fund ICRA A1+mfs Reaffirmed
Planetcast Media Services Ltd Non-fund Based - ICRA A1 300 Outstanding
Working Capital Fac
(ST)
Prakrutees Infra Impex India Pvt Ltd ST – Interchangeable ICRA A4
limits
Issuer delayed in sharing information
Precon Technology And Castings Ltd Non-FBL ICRA A4 25
Rating continues to remain under ‘Issuer not Cooperating’ category.
Ralson (India) Ltd ST – FB/ Non-fund ICRA A1+ 30.9 Outstanding
based
Ralson (India) Ltd ST –FB ICRA A1+ 150 Outstanding
Ralson (India) Ltd ST – Non-fund based ICRA A1+ 240 Outstanding
Rama Overseas Ltd FBL ICRA A4 325
Rating continue to remain under the ‘Issuer not Cooperating’ category
Rama Overseas Ltd Non FBL ICRA A4 6
Rating continue to remain under the ‘Issuer not Cooperating’ category
Rama Overseas Ltd Unallocated ICRA A4 0.6
Rating continue to remain under the ‘Issuer not Cooperating’ category
RKG International Pvt Ltd ST – Fund Based ICRA A4 60
Rating continues to remain under ‘Issuer not Cooperating’ category
RKG International Pvt Ltd ST - Non-Fund Based ICRA A4 80
Rating continues to remain under ‘Issuer not Cooperating’ category
Rushil Industries Ltd Non-fund Based - LOC ICRA A4+ 830 Outstanding
Rushil Industries Ltd Non-fund based - ICRA A4+ 19
Credit Exposure Limit
Assigned for enhanced amount
S R Tranzcars Pvt Ltd ST – Fund based ICRA D 330
Review process is underway
S.T. Woollen Mills Pvt Ltd ST – NFBL ICRA A4 70
Rating continues to remain in the ‘Issuer not Cooperating’ category
Shree Umiya Cotspin Pvt. Ltd. BG ICRA A4 15
Rating continues to remain under ‘Issuer not Cooperating category
Shree Umiya Cotspin Pvt. Ltd. LOC ICRA A4
Rating continues to remain under ‘Issuer not Cooperating category
Starlite Lighting Ltd ST- Non-FBL ICRA A2 (CE) 100 Reaffirmed
Sunstar Precision Forge Ltd ST - Non-fund based ICRA A4 5
Rating downgraded from ICRA A4+ and continues to remain under ‘Issuer not Cooperating’ category
Toshiba Johnson Elevators (India) Pvt ST Non-FBL ICRA A3+ 500 Assigned
Ltd
Toshiba Johnson Elevators (India) Pvt ST FBL ICRA A3+ 10 Assigned
Ltd
Toshiba Johnson Elevators (India) Pvt ST Interchangeable ICRA A3+ Assigned
Ltd Limit
Triveni Smelters Pvt Ltd Non-Fund Based LOC ICRA A4 35
Rating continues to remain under ‘Issuer not Cooperating’ category
LONG TERM RATINGS:
-------------------
ABC Transformers Pvt Ltd LT - Fund based/CC ICRA B+ 35
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
ABC Transformers Pvt Ltd LT – Unallocated ICRA B+ 12
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
Abhishek Steel Industries Ltd FBL ICRA B+ 100
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Abhishek Steel Industries Ltd Untied Limits ICRA B+ 20
(Stable)/ A4
Rating continues to remain under ‘Issuer not Cooperating’ category
ABM Tele Mobiles India Pvt Ltd Fund Based – Working ICRA BBB 1500 Reaffirmed
Capital Fac
outlook revised to Negative from Stable
Ahmedabad Maliya Tollway Ltd Rating Without ICRA A-
Explicit Credit
Enhancement
Ahmedabad Maliya Tollway Ltd NCD (NCD) ICRA AA (CE) 1750 Reaffirmed
(Stable)
Akanksha Automobiles (P) Ltd LT - Fund Based/ CC ICRA B+ 190
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
Akanksha Automobiles (P) Ltd LT - Fund Based TL ICRA B+ 25.3
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
Alpine Poly Rub Pvt Ltd LT - Fund Based/CC ICRA B+ 40
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer not Cooperating’
category
Alpine Poly Rub Pvt Ltd LT – Unallocated ICRA B+ 20
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer not Cooperating’
category
Amrit Malwa Capital Ltd Rating Without ICRA BB+
Explicit Credit
Enhancement
Anjali Infracrete Pvt Ltd Fund based-CC ICRA B 35
(Stable)
Issuer not Cooperating
Anjali Infracrete Pvt Ltd FB TL ICRA B 20.5
(Stable)
Issuer not Cooperating
Anjali Infracrete Pvt Ltd Unallocated Limits ICRA B 44.5
(Stable)
Issuer not Cooperating
Ascendum Solutions India Pvt Ltd LT fund based – CC ICRA BB 50
(Positive)
Review Process underway
Ascendum Solutions India Pvt Ltd LT fund based – TL ICRA BB 250
(Positive)
Review Process underway
Ashoka Distillers & Chemicals Pvt Ltd LT - Fund Based/CC ICRA B+ 80
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer not Cooperating’
category
Ashoka Distillers & Chemicals Pvt Ltd LT – Fund Based TL ICRA B+ 123.5
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer not Cooperating’
category
Ashoka Distillers & Chemicals Pvt Ltd LT/ST – Unallocated ICRA B+ 106.5
(Stable) / A4
Rating downgraded from ICRA BB+ (Stable)/A4+ and continues to remain in the ‘Issuer not
Cooperating’ category
Assorted Plastics Pvt Ltd Fund Based – CC ICRA B+ 39.3
(Stable)
Downgraded from ICRA BB+ (Stable) and moved to the ‘Issuer not Cooperating’ category
Assorted Plastics Pvt Ltd Fund based – Term ICRA B+ 56.4
(Stable)
Downgraded from ICRA BB+(Stable) and moved to the ‘Issuer not Cooperating’ category
Assorted Plastics Pvt Ltd Loan Unallocated ICRA B+ 4.3
(Stable) /
ICRA A4
Downgraded from ICRA BB+(Stable) /ICRA A4+ and moved to the ‘Issuer not Cooperating’ category
Brainer Infra Llp Fund based – CC ICRA B+ 150
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
G U Financial Services Pvt Ltd Rating Without ICRA BB-
Explicit Credit
Enhancement
Ganesh Industries LT, FB-TL ICRA BB- 13.4 Withdrawn
(Stable)
Ganesh Industries LT, FB-CC ICRA BB- 37.5 Withdrawn
(Stable)
Ganesh Industries LT, Unallocated ICRA BB- 29.1 Withdrawn
limits (Stable)
GE Power India Ltd (Erstwhile Alstom Bk Loan Ratings ICRA AA- 40000
India Ltd) (Stable) /
ICRA A1+
Review process underway
GE Power Systems India Pvt Ltd Bk Loan Ratings ICRA A+ 40000
(Erstwhile Alstom Bharat Forge Power (Stable) /
Pvt Ltd) ICRA A1+
Review process underway
Genisys Information Systems (India) Pvt LT- TL ICRA BB 30
Ltd (Stable)
Issuer delayed in giving Information
Genisys Information Systems (India) Pvt LT- CC ICRA BB 120
Ltd (Stable)
Issuer delayed in giving Information
Goverdhan Transport Company Pvt Ltd LT - Fund Based/TL ICRA B+ 670
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain in the ‘Issuer not Cooperating’
category
Goyal Motocorp Pvt Ltd Fund Based – CC ICRA B 40
(Stable)
Rating continues to remain under the’ Issuer not Cooperating category
Goyal Motocorp Pvt Ltd Fund Based- TL ICRA B 25
(Stable)
Rating continues to remain under the’ Issuer not Cooperating category
IIFL Finance Ltd- Shining Metal Trust PTC Series A Provisional 5600 Assigned
December 2020 ICRA AAA (SO)
Iifl Home Finance Ltd NCD Programme ICRA AA 40000
(Negative)
Review process is underway
IIFL Home Finance Ltd Sub. Debt Programme ICRA AA 6000
(Negative)
Review process is underway
IIFL Home Finance Ltd LT Fund Based TL ICRA AA 31158.6
(Negative)
Review process is underway
IIFL Home Finance Ltd LT Fund Based CC ICRA AA 601.5
(Negative)
Review process is underway
IIFL Home Finance Ltd LT Unallocated ICRA AA 18239.9
(Negative)
Review process is underway
IIFL Home Finance Ltd LT- Market Linked PP-MLD ICRA 2000
Debenture AA (Negative)
Review process is underway
Indian Gem & Jewellery Imperial Pvt Ltd FBL – CC ICRA D 300
Rating continues to remain in the ‘Issuer not Cooperating’ category
Indian Gem & Jewellery Imperial Pvt Ltd Untied Limits ICRA D 50
Rating continues to remain in the ‘Issuer not Cooperating’ category
J. P. Flour Mills Pvt Ltd LT Fund Based- CC ICRA B+ 160
(Stable)
Rating continue to remain under the ‘Issuer not Cooperating’ category
J. P. Flour Mills Pvt Ltd LT Fund Based – TL ICRA B+ 6.2
(Stable)
Rating continue to remain under the ‘Issuer not Cooperating’ category
Jupiter Wagons Ltd Fund Based – TL ICRA A- 195 Assigned
(Stable)
Jupiter Wagons Ltd Fund Based – Working ICRA A- 1120 Assigned
Capital Fac (Stable)
Karimnagar Municipal Corporation Issuer Rating ICRA BB+
(Stable)
Issuer not Cooperating; Withdrawn
Khed Economic Infrastructure Pvt Ltd Fund Based - TL ICRA B-& 4300
rating on Watch with Developing Implications
LIC Mutual Fund Asset Management Ltd LIC MF Bond Fund ICRA AAAmfs Reaffirmed
LIC Mutual Fund Asset Management Ltd LIC MF Bking and PSU ICRA AAAmfs Outstanding
Debt Fund
Maha Durga Charitable Trust LT- Fund based - TL ICRA C+ & 600.8
placed under rating watch with developing implication; Assigned
Maha Durga Charitable Trust LT- Fund based - ICRA C+ & 109.2
Unallocated
placed under rating watch with developing implication; Assigned
Maini Precision Products Ltd LT- TL ICRA A 1448.9 Reaffirmed
(Negative)
Maini Precision Products Ltd LT/ST- fund ICRA A 1810 Reaffirmed
based/non-fund based (Negative)/
ICRA A1
Metro Hospital And Cancer Research FB Limits ICRA B+ 30
Centre (Stable)
Downgraded from ICRA BB+(Stable) and continues to remain under ‘Issuer not Cooperating’
category.
Miryalaguda Municipality Issuer Rating ICRA B+
(Stable)
Issuer not Cooperating; Withdrawn
Northern Arc Capital Ltd- Amrit Malwa Loans ICRA BBB+ 56.6 Reaffirmed
Capital Ltd (CE) (Stable)
Northern Arc Capital Ltd- G U Financial Loans ICRA BBB+ 26.5 Reaffirmed
Services Pvt Ltd (CE) (Stable)
Northern Arc Capital Ltd- Orange Retail Loans ICRA BBB+ 106.1 Reaffirmed
Finance India Pvt Ltd (CE) (Stable)
Northern Arc Capital Ltd- Vaya Finserv Loans ICRA BBB+ 97.6 Reaffirmed
Pvt. Ltd (CE) (Stable)
Northern Arc Capital Ltd- Western India Loans ICRA BBB+ 48.5 Reaffirmed
Transport Finance Company Ltd (CE) (Stable)
Om Corrugated Pack Pvt Ltd FBL CC ICRA B+ 40
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Om Corrugated Pack Pvt Ltd FBL - TL ICRA B+ 26.5
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Om Corrugated Pack Pvt Ltd Unallocated Limits ICRA B+ 27
(Stable)/ A4
Rating continues to remain under ‘Issuer not Cooperating’ category
Orange Infracon Pvt Ltd LT – Fund based ICRA B+ 380
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Orange Infracon Pvt Ltd LT Unallocated ICRA B+ 120
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Orange Retail Finance India Pvt Ltd Rating Without ICRA BB
Explicit Credit
Enhancement
Planetcast Media Services Ltd FB - TL ICRA A+ 400 Outstanding
(Stable)
Planetcast Media Services Ltd FB - Working Capital ICRA A+ 100 Outstanding
Fac (Stable)
Polyplastics Automotive India Pvt Ltd Fund Based- CC ICRA D 80
Rating continues to remain in the ‘Issuer not Cooperating’ category
Polyplastics Automotive India Pvt Ltd Fund Based- TL ICRA D 97.5
Rating continues to remain in the ‘Issuer not Cooperating’ category
Polyplastics Automotive India Pvt Ltd Fund Based ICRA D 12
Rating continues to remain in the ‘Issuer not Cooperating’ category
Polyplastics Automotive India Pvt Ltd Non-fund Based ICRA D 2.5
Rating continues to remain in the ‘Issuer not Cooperating’ category
Polyplastics Automotive India Pvt Ltd Unallocated ICRA D 58
Rating continues to remain in the ‘Issuer not Cooperating’ category
Prakrutees Infra Impex India Pvt Ltd LT fund based – CC ICRA BB 250
(Stable)
Issuer delayed in sharing information
Precon Technology And Castings Ltd FB Limits ICRA B+ 80
(Stable)
Downgraded from ICRA BB-(Stable) and continues to remain under ‘Issuer not Cooperating’
category.
Prestige Estates Projects Ltd LT TL ICRA A+ 41490
(Stable)
Review process is underway
Prestige Estates Projects Ltd LT Non-fund based ICRA A+ 3510
(Stable)
Review process is underway
Prestige Estates Projects Ltd NCDs ICRA A+ 6500
(Stable)
Review process is underway
Raj Ratan Smelter Ltd LT / ST Fund ICRA C+/ A4 185
Based/Non-Fund Based
Rating continues to remain under ‘Issuer not Cooperating’ category
Ralson (India) Ltd Issuer Rating ICRA A+
(Stable)
Reaffirmed and simultaneously Withdrawn
Ralson (India) Ltd LT FB/ CC ICRA A+ 662.4 Outstanding
(Stable)
Ralson (India) Ltd LT – FB TL ICRA A+ 374.1 Outstanding
(Stable)
Ralson (India) Ltd LT/ ST – FB ICRA A+ 92.6 Outstanding
(Stable)/
ICRA A1+
RKG International Pvt Ltd LT - Fund Based/ CC ICRA B+ 20
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
Rushil Industries Ltd FB - Standby line of ICRA BB 120 Outstanding
credit (Stable)
Rushil Industries Ltd FB - CC# ICRA BB Outstanding
(Stable)
#sub-limit of Letter of credit
S R Tranzcars Pvt Ltd LT – Fund based ICRA D 35
Review process is underway
S R Tranzcars Pvt Ltd LT – Fund based – ICRA D 5
Unallocated
Review process is underway
S.T. Woollen Mills Pvt Ltd LT - Fund Based TL ICRA B+ 11.2
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
S.T. Woollen Mills Pvt Ltd LT - Fund Based /CC ICRA B+ 62.5
(Stable)
Rating continues to remain in the ‘Issuer not Cooperating’ category
S.T. Woollen Mills Pvt Ltd LT/ ST- Unallocated ICRA B+ 6.3
Limits (Stable)/ A4
Rating continues to remain in the ‘Issuer not Cooperating’ category
Saileela Processors Pvt Ltd (Formerly LT - Fund Based/CC ICRA B+ 150
Known As Suzuki Synthetics Pvt Ltd) (Stable)
Downgraded from ICRA BB- (Stable) and continues to remain in the ‘Issuer not Cooperating’
category on information
Saileela Processors Pvt Ltd (Formerly LT - Fund Based/TL ICRA B+ 110
Known As Suzuki Synthetics Pvt Ltd) (Stable)
Downgraded from ICRA BB- (Stable) and continues to remain in the ‘Issuer not Cooperating’
category on information
Sandhar Technologies Ltd FB – Working Capital ICRA AA- 500
Fac (Negative)
Delay in receiving the necessary documents
Sandhar Technologies Ltd Unallocated Limits ICRA AA- 50
(Negative)
Delay in receiving the necessary documents
Sandhar Technologies Ltd FB/Non-fund Based – ICRA AA- 250
Working Capital Fac (Negative)/
ICRA A1+
Delay in receiving the necessary documents
Select Infrastructure Pvt Ltd LT Unallocated ICRA AA 1970
(Stable)
Review process is underway
Shirdiwale Sai Exim Pvt Ltd Fund Based - CC ICRA D 80
Rating Continues to remain under the ‘Issuer not Cooperating’ category.
Shree Umiya Cotspin Pvt. Ltd. Fund based-TL ICRA B+ 258
(Stable)
Rating continues to remain under ‘Issuer not Cooperating category
Shree Umiya Cotspin Pvt. Ltd. Fund based-CC ICRA B+ 70
(Stable)
Rating continues to remain under ‘Issuer not Cooperating category
Siddipet Municipality Issuer Rating ICRA B+
(Stable)
Issuer not Cooperating; Withdrawn
Starlite Lighting Ltd LT - NCD Programme ICRA A- (CE) 1200 Reaffirmed
outlook revised to stable from negative
Starlite Lighting Ltd LT - NCD Programme ICRA A- (CE) Reaffirmed
outlook revised to stable from negative and simultaneously
Starlite Lighting Ltd LT FB Limits ICRA BBB+ 920 Reaffirmed
(CE)
outlook revised to stable from negative
Sunstar Precision Forge Ltd LT - FB CC ICRA B+ 380
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer not Cooperating’
category
Sunstar Precision Forge Ltd LT - FB TL ICRA B+ 65
(Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer not Cooperating’
category
Sunstar Precision Forge Ltd LT - Unallocated ICRA B+ 50
Limits (Stable)
Downgraded from ICRA BB+ (Stable) and continues to remain under ‘Issuer not Cooperating’
category
Suryapet Municipality Issuer Rating ICRA B+
(Stable)
Issuer not Cooperating; Withdrawn
Tcg Urban Infrastructure Holdings Pvt TL ICRA BBB- 3150 Reaffirmed
Ltd (Stable)
Toshiba Johnson Elevators (India) Pvt LT FBL ICRA BBB 40 Assigned
Ltd (Stable)
Triveni Smelters Pvt Ltd Fund based CC ICRA B+ 103.4
(Stable)
Rating continues to remain under ‘Issuer not Cooperating’ category
Vaya Finserv Pvt. Ltd Rating Without ICRA BBB
Explicit Credit
Enhancement
Webfil Ltd Fund Based- ICRA C+ 33.8
Rating Continues to remain under the ‘Issuer not Cooperating’ category ICRA C+ /ICRA A4 Issuer
not Cooperating*
Webfil Ltd Non Fund based-LOC ICRA C+ 54
Rating Continues to remain under the ‘Issuer not Cooperating’ category ICRA C+ /ICRA A4 Issuer
not Cooperating*
Webfil Ltd Non Fund Based- BG ICRA C+ / 49
ICRA A4
Rating continues to remain under the ‘Issuer not Cooperating’ category
Western India Transport Finance Company Rating Without ICRA D
Ltd Explicit Credit
Enhancement
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)