Jun 12 - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of June 11, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Allahabad Bank Certificates of ICRA A1+ 200000 Withdrawn
Deposit Programme
Goan Fresh Marine Exports Pvt Ltd ST - fundbased ICRA A4+ 300
Delay in receipt of information due to the lockdown amid Covid-19 pandemic
Godrej Properties Ltd CP ICRA A1+ 15000 Outstanding
Kissandhan Agri Financial Services Pvt CP Programme ICRA A2 150
Ltd
Downgraded to ICRA A2 from ICRA A2+
Muthoot Finance Ltd ST FB Bk Fac ICRA A1+ 133380#assigned/
outstanding
##Long term and short-term fund based limits include an interchangeable limit of Rs. 7,260
crore; total rated bank facilities stand at Rs. 17,665 crore (including Rs. 2,690.0 crore term
loans and Rs.870 crore credit exposure limit)
Muthoot Finance Ltd CP Programme ICRA A1+ 50000 Outstanding
Ram Kripal Singh Construction Pvt. Ltd.ST Non-fund Based(LC)ICRA A2+ @
@Rating placed on watch with Negative implications
Sundaram Industries Pvt Ltd ST FB sub-limits ICRA A1+ Reaffirmed
Sundaram Industries Pvt Ltd ST Non-FBL ICRA A1+ 340 Reaffirmed
Tata Capital Financial Services Ltd CP ICRA A1+ 150000 Outstanding
Virgo Aluminium Ltd ST/Non-fund Based ICRA A2 292.5 Reaffirmed /
assigned
LONG TERM RATINGS:
-------------------
Chhapra Hajipur Expressways Ltd TL ICRA D 9338.2 Reaffirmed /
assigned
Chhapra Hajipur Expressways Ltd Unallocated Limits ICRA D 1.7 Reaffirmed /
assigned
Gayatri Hi-Tech Hotels Ltd Fund Based – CC ICRA D 180 Issuer Not
Cooperating
Gayatri Hi-Tech Hotels Ltd Fund Based – TL ICRA D 4911 Issuer Not
Cooperating
Gayatri Hi-Tech Hotels Ltd Non Fund Based ICRA D 268 Issuer Not
Cooperating
Gayatri Hi-Tech Hotels Ltd Unallocated ICRA D 11 Issuer Not
Cooperating
Goan Fresh Marine Exports Pvt Ltd LT - Fundbased - TL ICRA BB+ 75
(Negative)
(Delay in receipt of information due to the lockdown amid Covid-19 pandemic)
Godrej Properties Ltd LT – FB/CC ICRA AA 18000 Outstanding
(Stable)
Godrej Properties Ltd LT – Non-FBL ICRA AA 1000 Outstanding
(Stable)
Godrej Properties Ltd LT/ ST – Proposed ICRA AA 1000 Outstanding
(Stable)
Godrej Properties Ltd NCD Programme ICRA AA 5000 Outstanding
(Stable)
Godrej Properties Ltd NCD Programme ICRA AA 10000 Assigned
(Stable)
Madurai Tuticorin Expressways Ltd TL ICRA D 5251.2 Reaffirmed /
assigned
Muthoot Finance Ltd NCD Programme(public ICRA AA 11890.1Outstanding
placement) – (Stable)
Unallocated
Muthoot Finance Ltd NCD Programme(public ICRA AA 76813 Outstanding
placement) – Allocate(Stable)
Muthoot Finance Ltd NCD Programme ICRA AA 21750 Outstanding
(private placement) –(Stable)
Unallocated
Muthoot Finance Ltd NCD Programme ICRA AA 18250 Outstanding
(private placement) –(Stable)
Allocated
Muthoot Finance Ltd LT FB Bk Fac ICRA AA 88970##assigned/
(Stable) outstanding
##Long term and short-term fund based limits include an interchangeable limit of Rs. 7,260
crore; total rated bank facilities stand at Rs. 17,665 crore (including Rs. 2,690.0 crore term
loans and Rs.870 crore credit exposure limit)
Muthoot Finance Ltd TL ICRA AA 26900 assigned/
(Stable) outstanding
Muthoot Finance Ltd Subordinated ICRA AA 2738.4 Outstanding
Debenture Programme –(Stable)
Allocated
Muthoot Finance Ltd Subordinated ICRA AA 1895 Outstanding
Debenture (Stable)
Muthoot Finance Ltd Programme – ICRA AA 105 Assigned
Unallocated (Stable)
Ram Kripal Singh Construction Pvt. Ltd.FB Limits ICRA A-@ 800^
@Rating placed on watch with Negative implications; ^Interchangeable between fund-based and
non-fund based limits to the extent of Rs. 40.0 crore
Ram Kripal Singh Construction Pvt. Ltd.Non-FBL ICRA A-@ 7700
@Rating placed on watch with Negative implications
S & T Mining Company Pvt Ltd Non-FBL – BG ICRA BBB+ 50
(Stable)
ISSUER NOT COOPERATING; Withdrawn
Sai Ram Constructions LT - Fund Based ICRA BB- 60 Assigned
(Stable)
Sai Ram Constructions LT - Non Fund Based ICRA BB- 133.5 Assigned
(Stable)
Sai Ram Constructions LT- Unallocated ICRA BB- 56.5 Assigned
(Stable)
Shree Hari Yarns Pvt Ltd - -
Removed from ‘Issuer not cooperating’ Category
Shriram Transport Finance Co. Ltd- Assignee Payouts Provisional 5008 Assigned
Indian Bank Pcg_June 2020 ICRA AA (SO)
Shriram Transport Finance Co. Ltd- PTC Series A1 ICRA AA (SO)2543.6
Sansar Trust July 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Shriram Transport Finance Co. Ltd- PTC Series A2 ICRA AA (SO)3033.6
Sansar Trust July 2019
Shriram Transport Finance Co. Ltd- PTC Series A1a ICRA AA (SO)85.7
Sansar Trust May 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Shriram Transport Finance Co. Ltd- PTC Series A1b ICRA AA (SO)685
Sansar Trust May 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Shriram Transport Finance Co. Ltd- PTC Series A1c ICRA AA (SO)469.1
Sansar Trust May 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Shriram Transport Finance Co. Ltd- PTC Series A1d ICRA AA (SO)436.4
Sansar Trust May 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Shriram Transport Finance Co. Ltd- PTC Series A2 ICRA AA (SO)2061
Sansar Trust May 2019
Downgraded from ICRA AAA(SO)@; @: The symbol implies that the ratings are under Watch with
Negative Implications
Sundaram Finance Ltd- Shri Trust S 2018PTC Series A ICRA AAA(SO)810.4 Withdrawn
Sundaram Industries Pvt Ltd LT FB limits ICRA AA 492.5 Reaffirmed
(stable)
Sundaram Industries Pvt Ltd LT TL ICRA AA 169.3 Reaffirmed /
(stable) assigned
Sundaram Industries Pvt Ltd LT/ST: Unallocated ICRA AA 400.7 Reaffirmed /
(Stable) / assigned
ICRA A1+
Tamil Nadu Dindigul Karur Expressways TL ICRA D 1217 Reaffirmed /
Ltd assigned
Tata Capital Financial Services Ltd Perpetual debt ICRA AA+ 10865.5Outstanding
programme (Stable)
Tata Capital Financial Services Ltd NCD programme ICRA AAA 25000 Assigned
(Stable)
Tata Capital Financial Services Ltd Retail bonds ICRA AAA 50000 Outstanding
programme (inlc. NCDs(Stable)
and subordinated debt)
Tata Capital Financial Services Ltd NCD programme ICRA AAA 132934.Outstanding
(Stable)
Tata Capital Financial Services Ltd Subordinated debt ICRA AAA 19054.5Outstanding
programme (Stable)
Tata Capital Financial Services Ltd LT/ST – Fund based/ ICRA AAA 250000 Outstanding
Non-fund based (Stable)/
ICRA A1+
Trichy Thanjavur Expressways Ltd TL ICRA D 2121.3 Reaffirmed /
assigned
Virgo Aluminium Ltd LT: Fund based ICRA BBB+ 222.5 Reaffirmed /
(Stable) assigned
outlook revised from Positive
Virgo Aluminium Ltd LT/ Unallocated ICRA BBB+ 35 Reaffirmed /
(Stable) assigned
outlook revised from Positive
--------------------------------------------------------------------------------------------
$: 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)