(Repeating to add more ratings)
Nov 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 28, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd Non-fund Based ICRA A4 30
Review process is underway
Akp Ferrocast Pvt Ltd Non-FBL ICRA A3 20
Issuer delayed in giving information
Ganesan Builders Ltd ST – Non-FB Fac ICRA A4+ 117.5 Reaffirmed
Godrej Properties Ltd CP ICRA A1+ 12500 Reaffirmed
Hical Technologies Pvt Ltd ST-EPC/PCFC ICRA A3 400 Assigned
Hical Technologies Pvt Ltd ST-LOC/BG ICRA A3 30 Assigned
Hira Electro Smelters Ltd ST non-fund based – ICRA A4 105
LOC
Rating continues to be under ‘Issuer Not Cooperating’ category
Hira Electro Smelters Ltd ST non-fund based – ICRA A4 25
Forward Contract
Rating continues to be under ‘Issuer Not Cooperating’ category
Nikhil Adhesives Ltd ST - Non Fund Based ICRA A4+ 700#
Issuer Not Cooperating; # Includes fund-based overdraft sub-limit of Rs. 3.00 crore and cash
credit sub-limit of Rs. 2.00 crore rated BB+(Stable) and A4+ issuer not cooperating
Psa Construction Non-fund Based ICRA A4+ 219.5
Issuer Not Cooperating
Rajgangpur Ispat Udyog Fund based – Bill ICRA A4 50
Discounting
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Rushil Industries Ltd Non FB – LOC ICRA A4+ 480 Reaffirmed
Rushil Industries Ltd Non FB – Forex ICRA A4+ 10.6 Reaffirmed
Exposure Limit
Seagull Associates ST – Fund Based ICRA A4 160
Review process is underway
Shapoorji Pallonji And Company CP ICRA A1 25000
Pvt Ltd
Downgraded from ICRA A1+
Shriram Transport Finance Co. PTC Series A1 ICRA A1+(SO) - Withdrawn
Ltd-Sansar Trust
March 2019
Sri Someshwara Fertilizers & ST – Non Fund Based ICRA A4 100.7
Chemicals
Issuer delayed in giving information
MEDIUM TERM RATINGS:
-------------------
Nikhil Adhesives Ltd Medium Term - Fixed MB+ (Stable) 35
Deposit
Issuer Not Cooperating
LONG TERM RATINGS:
-------------------
A B Renewable Energy Pvt Ltd LT – Unallocated ICRA BB- 240 Reaffirmed
(Stable)
Addi Alloys Pvt Ltd CC ICRA B+ 110
(Stable)
Review process is underway
Akp Ferrocast Pvt Ltd FBL ICRA BBB- 115
(Stable)
Issuer delayed in giving information
Akp Ferrocast Pvt Ltd TL ICRA BBB- 50
(Stable)
Issuer delayed in giving information
Asvini Fisheries Pvt Ltd LT - Non Fund Based ICRA BB+ 90
(Stable)
Downgraded from ICRA BBB+ (Stable) Issuer Not Cooperating
Bharat Timber & Construction LT – Fund Based - TL ICRA BBB- 30 Reaffirmed
Co. (Stable)
Cochin International Airport TL ICRA AA- 5000
Ltd (Stable)
Issuer delayed in giving information
Ds-Max Realty Pvt Ltd LT - Unallocated BLR ICRA BBB- 150
(Stable)
Issuer delayed in giving information
Firepro Systems Pvt Ltd Unallocated ICRA BB 300
(Stable) /
ICRA A4+
Issuer delayed in giving information
Flow Link Systems Pvt Ltd Bk loan ratings ICRA A- 545.5
(Stable)/
A2+
Issuer delayed in giving information
Ganesan Builders Ltd LT – FB Fac ICRA BB 180 Reaffirmed
(Stable)
Ganesan Builders Ltd LT/ST - Unallocated ICRA BB 42.5 Reaffirmed
(Stable)/
ICRA A4+
Godrej Properties Ltd LT – Fund Based/CC ICRA AA 16500 Reaffirmed
(Stable)
Godrej Properties Ltd LT – Non-FBL ICRA AA 1000 Reaffirmed
(Stable)
Godrej Properties Ltd NCD Programme ICRA AA 5000 Reaffirmed
(Stable)
Godrej Properties Ltd LT/ ST – Proposed ICRA AA 2500 Reaffirmed
(Stable)/
A1+
Hare Krishna Metallics Pvt. Ltd Bk loan ratings ICRA BBB- 407.2
(Stable)/ A3
Issuer delayed in giving information
Haryana State Industrial And LT Fundbased working ICRA BBB+ 87550
Infrastructure Development capital limit (Negative)
Corporation Ltd
Issuer Not Cooperating
Haryana State Industrial And LT/ Shortterm fund ICRA BBB+ 62450
Infrastructure Development based (Negative)/
Corporation Ltd A2
Issuer Not Cooperating
Hical Technologies Pvt Ltd LT-CC (Sublimit) ICRA BBB- Assigned
(Stable)
Hical Technologies Pvt Ltd LT-TL ICRA BBB- 162 Assigned
(Stable)
Hical Technologies Pvt Ltd LT/ST-Unallocated ICRA BBB- 8 Assigned
(Stable)/
ICRA A3
Hira Electro Smelters Ltd LT FB – TL ICRA BB 56.8
(stable)
Rating continues to be under ‘Issuer Not Cooperating’ category
Hira Electro Smelters Ltd LT fund -based – CC ICRA BB 80
(stable)
Rating continues to be under ‘Issuer Not Cooperating’ category
Housing Development Finance Second Loss Facility ICRA AA+ 116.8 Withdrawn
Corporation Ltd (SO)
Housing Development Finance Acquirer Payout ICRA AAA 326.6 Withdrawn
Corporation Ltd (SO)
Karnataka Housing Board LT – Unallocated ICRA A 10000
Limits (Stable)
Continues to remain under the ‘Issuer Not Cooperating’ category
L.C. Foods Ltd Non-fund Based ICRA D 20
Issuer Not Cooperating
L.C. Foods Ltd CC ICRA D 190
Issuer Not Cooperating
Manmeet Alloys Pvt Ltd CC ICRA B+ 150
(Stable)
Review process is underway
Manba Finance Ltd-Northern Arc PTC Series A1 Prov ICRA 200.2 confirmed as
2019 2W Galadriel A(SO) final
Manba Finance Ltd-Northern Arc PTC Series A2 Prov ICRA 6.9 confirmed as
2019 2W Galadriel BBB+(SO) final
Mohanlal Jewellers Pvt Ltd LT – CC ICRA BBB 1000
(Stable)
Review process is underway
National Projects Construction FB Limits – CC ICRA A 200
Corporation Ltd (Stable)
revised from ICRA A+&; rating removed from watch
National Projects Construction Non-fund based – ICRA A 4800
Corporation Ltd Working Capital Fac (Stable) /
ICRA A2+
revised from ICRA A+&/A1&; ratings removed from watch
Nikhil Adhesives Ltd LT - Fund Based/ CC ICRA BB+ 200
(Stable)
Issuer Not Cooperating
Parmanand And Sons Food CC ICRA BBB- 775
Products Pvt Ltd (Stable)
Review process is underway
Parmanand And Sons Food TL ICRA BBB- 16
Products Pvt Ltd (Stable)
Review process is underway
Prothom Industries India Pvt LT Scale: Non- ICRA D 150
Ltd Convertible Debentures
Issuer Not Cooperating
Psa Construction CC ICRA BB+ 9
(Stable)
Issuer Not Cooperating
Psa Construction Unallocated ICRA BB+ 1.5
(Stable)/
ICRA A4+
Issuer Not Cooperating
Rajgangpur Ispat Udyog Fund based – CC ICRA B- 30
(stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Rushil Industries Ltd FB - CC ICRA BB 50 Reaffirmed
(Stable)
Rushil Industries Ltd FB/ Non FB – ICRA BB 126.5 Reaffirmed
Unallocated (Stable)/
A4+
Satin Creditcare Network PTC Series A2 ICRA A+(SO) - Withdrawn
Ltd-Northern Arc 2018
Mfi Leonard
Satin Creditcare Network PTC Series A1 ICRA AA(SO) - Withdrawn
Ltd-Northern Arc 2018
Mfi Leonard
Santlal Industries Ltd CC ICRA BB+ 750
(Stable)
Issuer not cooperating
Santlal Industries Ltd Issuer rating ICRA BB+
(Stable)
Issuer not cooperating
Seagull Associates LT – TL ICRA BB 10
(Stable)
Review process is underway
Shapoorji Pallonji And Company Non-FBL ICRA A+/ 150000
Pvt Ltd ICRA A1
Downgraded from ICRA AA-; rating removed from watch with developing implications and ‘Negative’;
Downgraded from ICRA A1+
Shapoorji Pallonji And Company FB limits ICRA A+/ 60000
Pvt Ltd ICRA A1
Downgraded from ICRA AA-; rating removed from watch with developing implications and ‘Negative’;
Downgraded from ICRA A1+
Shree Ambika Sugars Ltd LT - Fund Based TL ICRA D 346.3
Continues to remain under the ‘Issuer Not Cooperating’ category
Sri Lalitha Enterprises FB - Working Capital ICRA BBB 3450
Industries Pvt Ltd Fac (Stable)
Issuer Not Cooperating; Rating downgraded from ICRA A- (Stable) and moved to the ‘Issuer Not
Cooperating’ category
Sri Lalitha Enterprises TL ICRA BBB 150
Industries Pvt Ltd (Stable)
Issuer Not Cooperating; Rating downgraded from ICRA A- (Stable) and moved to the ‘Issuer Not
Cooperating’ category
Sri Someshwara Fertilizers & LT - Fund Based (CC) ICRA B+ 120
Chemicals (Stable)
Issuer delayed in giving information
Stanley Lifestyles Ltd Bk loan ratings ICRA A- 567.8
(Stable)/
A2+
Issuer delayed in giving information
Subhang Capsas Pvt. Ltd. BLR ICRA B+ 65
(Stable)
Issuer Not Cooperating
Terra Energy Ltd LT - Fund Based/ CC ICRA D 89.5
Continues to remain under the ‘Issuer Not Cooperating’ category
Terra Energy Ltd LT - Fund Based TL ICRA D 98.9
Continues to remain under the ‘Issuer Not Cooperating’ category
Terra Energy Ltd LT – Unallocated ICRA D 201.6
Continues to remain under the ‘Issuer Not Cooperating’ category
Terra Energy Ltd ST - Non Fund Based ICRA D 110
Continues to remain under the ‘Issuer Not Cooperating’ category
The Vijayawada Electricity LT – Unallocated- Bk ICRA B 150
Employees Cooperative Credit Fac (Stable)
Society Ltd
Downgraded from ICRA BB (Stable)and continues to remain in the ‘Issuer Not Cooperating’ category
Thiru Arooran Sugars Ltd LT - Fund Based/ CC ICRA D 568.4
Continues to remain under the ‘Issuer Not Cooperating’ category
Thiru Arooran Sugars Ltd LT - Fund Based TL ICRA D 297
Continues to remain under the ‘Issuer Not Cooperating’ category
Thiru Arooran Sugars Ltd LT - Non Fund Based ICRA D 2353
Continues to remain under the ‘Issuer Not Cooperating’ category
Thiru Arooran Sugars Ltd LT – Unallocated ICRA D 161.1
Continues to remain under the ‘Issuer Not Cooperating’ category
Thiru Arooran Sugars Ltd ST - Non Fund Based ICRA D 15
Continues to remain under the ‘Issuer Not Cooperating’ category
Umiya Enterprise TL ICRA BB 40
(Stable)
Upgraded from ICRA BB- (Stable)
Umiya Enterprise CC ICRA BB 60
(Stable)
Upgraded from ICRA BB- (Stable)
Umiya Enterprise Unallocated Limits ICRA BB 25
(Stable)
Upgraded from ICRA BB- (Stable)
--------------------------------------------------------------------------------------------
$: 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)
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