(Repeating to add more ratings)
Aug 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 29, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Adoration Ceramica Pvt. Ltd. Non-fund based BG ICRA A4 25 Reaffirmed
(Removed from Issuer Not Cooperating category)
Amon-Ra Impex Pvt Ltd ST - NonFund Based ICRA A4 78.3 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ayana Renewable Power Pvt Ltd Non-FBL ICRA A1+& 500 -
(placed on watch with developing implications)
Datacom Products (India) Pvt. ST – Non- Fund based ICRA D - -
Ltd (interchangeable)
(Issuer did not co-operate; based on best available information.)
Datacom Products (India) Pvt. ST – NonFund based ICRA D 20 -
Ltd
(Issuer did not co-operate; based on best available information.)
Decor Paper Mills Ltd ST - Nonfund Based ICRA A4 1.3 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Excel Foods Pvt Ltd ST - Non-Fund Based ICRA A4 5 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Forming India Pvt Ltd ST – Non Fund Based ICRA A4 5 Reaffirmed
Geetanjali University BG ICRA A3 200 -
(Rating moved to ‘Issuer Not Cooperating’ category)
Ini Design Studio Pvt. Ltd. Non-Fund based BG ICRA A3 30 Assigned
K. M. Fisheries ST - NonFund Based ICRA A4 1.5 -
(Stable)
(Issuer did not co-operate; based on best available information.)
Khosla Engineering Pvt Ltd ST – Non Fund Based ICRA A4 8.9 Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd ST - Fund Based ICRA A4 5 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd ST - NonFund Based ICRA A4 7 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd ST- Fund Based ICRA A4 425.7 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd ST- Non-Fund Based ICRA A4 91 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Manoj Trading Co. ST – Fund Based – ICRA A4 - -
Cheques/DD purchases
(Sublimits) Transaction Name
(Rating continues to remain under ‘Issuer Not Cooperating’ category) Current Rated Amount Rating
Action (Rs. crore)
Mbc Infra-Space Pvt. Ltd. BG ICRA A4 41.9 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd. Proposed Unallocated ICRA A4 28.1 -
Limits – ST
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
P Kishanchand Textiles Ltd ST non-FBL ICRA A4 150 Reaffirmed
Prognosys Medical Systems Pvt ST - Non-Fund Based ICRA A4 10 -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sharda Construction And ST – Fund based ICRA A4+ 100 Downgraded
Corporation Pvt. Ltd. from ICRA A3+
(Issuer did not co-operate; based on best available information.)
Sharda Construction And ST – NonFund based ICRA A4+ 10 Downgraded
Corporation Pvt. Ltd. from ICRA A3+
(Issuer did not co-operate; based on best available information.)
Sri Jayarama Automotives Pvt Non Fund Based ICRA A4 40 -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sudarshan Tv Channel Ltd ST FB ICRA D 35
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Syscon Engineers ST - Non-fund Based ICRA A4 17.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Zed Vitrified Pvt Ltd Non-fund based-BG ICRA A4 45 -
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd Non-fund based- ICRA A4 0.6 -
Credit Exposure Limit
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Aequs Engineered Plastics Pvt Non-FB Fac ICRA A4 25.5 Withdrawn
Ltd
Altico Capital India Ltd CP Programme ICRA A1+ 0 Withdrawn
Anoop Forgings Pvt Ltd Non-fund based-Inland ICRA A4 5 Reaffirmed
LOC
Asian Construction Company ST – Non-fund Based ICRA A3 450
Reason for delay in carrying out periodic review:
- Issuer not cooperating
Bahuleyan Charitable Foundation ST FB limits ICRA A4 1 Reaffirmed
Benson Medical Equipments BG ICRA A4 80
(India) Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’ category
Benson Medical Equipments Forward Contract ICRA A4 1
(India) Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’ category
Bharat Agri Fert And Realty Ltd Non-FBL ICRA A4+ 50 Reaffirmed
Bharat Financial Inclusion Ltd Corporate Governance CGR2+ - Withdrawn
Rating
Bicero Tiles Llp Unallocated Limits ICRA A4 10 Reaffirmed
Buildmet Pvt Ltd ST - Unallocated ICRA A4+ 87.8
Rating moved to ‘Issuer Not Cooperating’ category
Buildmet Pvt Ltd ST - Non-fund based ICRA A4+ 245
Rating moved to ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd Fund based – Packing ICRA A4 34
Credit
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd NFBL ICRA A4 94
Rating continues to remain under ‘Issuer Not Cooperating’ category
Decor Paper Mills Ltd ST - Nonfund Based ICRA A4 1.3
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Dmk Particleboard Llp Non-Fund Based ICRA A4
Reason for delay in carrying out periodic review:- Issuer not cooperating
Eric Apparel Pvt Ltd Import LC ICRA A4+ 12.5 Withdrawn
Eric Apparel Pvt Ltd BG ICRA A4+ 7.5 Withdrawn
Faith Lumber Pvt. Ltd Non fund based ST ICRA A4 - Withdrawn
Interchangeable
Iron Triangle Ltd Non fund Based BG ICRA A1 6075 Reaffirmed
Kailash Devbuild (India) Pvt ST - Non Fund Based – ICRA A4+ 280
Ltd BG
Reason for delay in carrying out periodic review. - Issuer not cooperating
Kribhco Infrastructure Ltd FB shortterm Fac ICRA 850
A1+(SO) &
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Kribhco Infrastructure Ltd Non-fund based ST Fac ICRA 100
A1+(SO)&
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Manubhai Mangaldas Securities ST NonFund Based Bk ICRA A4+ 220 -
Pvt Ltd Lines
Reason for delay in carrying out periodic review: Review process is underway.
Muthoot Vehicle & Asset ST (ST) – ICRA A2 225
Finance Ltd Interchangeable#
Reason for delay in carrying out periodic review:
- Review process is underway/# Short-term facilities are interchangeable with long term
facilities
Oshina Expo Pvt Ltd ST/Non-fund Based ICRA A4 10
Reason for delay in carrying out periodic review:- Issuer not cooperating
Pravin Electricals Pvt Ltd Non-fund based – BG ICRA A4 575 Downgraded
from ICRA A4+
Rating continues to remain under ‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd ST - Non Fund Based ICRA A4 50
(Formerly Andhra Sinter Ltd)
Rating Moved to‘Issuer Not Cooperating’ category
R.D.Exports ST - Fund ICRA A4 60
based/Non-fund based^
^consists of packing credit limits interchangeable with Foreign Bills Negotiation (FBN)/Foreign
Bills Discounting (FBD)/Foreign Bills Purchase (FBP)/Advance against Foreign Bills Sent for
Collection (AAFBSC)/Rating continues to remain under ‘Issuer Not Cooperating’ category
S.S. Timber Traders Non-fund Based ICRA A4 80
Rating continues to remain in ‘Issuer Not Cooperating’ category
Salguti Industries Ltd ST - Non Fund Based ICRA A4 82.9 Reaffirmed
Sepal Ceramic Non-fund Based – BG ICRA A4 20
Rating continues to remain under ‘Issuer Not Cooperating’ category
Siechem Technologies Pvt. Ltd Non FB Fac ICRA A2+ 470 Assigned
Sunpack Barrier Films Pvt. Ltd Non fund Based - LOC ICRA A4+ 60 Assigned
Sunpack Barrier Films Pvt. Ltd Non fund Based – LER ICRA A4+ 7.5 Assigned
Vinayak International Non fund based ICRA A4 100
Reason for delay in carrying out periodic review/ Issuer not cooperating on fee and info
MEDIUM TERM RATINGS:
-------------------
Muthoot Vehicle & Asset Fixed deposit MA -
Finance Ltd programme
Reason for delay in carrying out periodic review:- Review process is underway
LONG TERM RATINGS:
-------------------
Adoration Ceramica Pvt. Ltd. FB CC ICRA 75 Reaffirmed
B+(Stable)
(Removed from Issuer Not Cooperating category)
Adoration Ceramica Pvt. Ltd. FB TL ICRA 200 Reaffirmed
B+(Stable)
(Removed from Issuer Not Cooperating category)
Advent Enterprises Pvt Ltd LT – Fund Based – ICRA B 125 -
Dropline Overdraft (Stable)
Limits
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Amon-Ra Impex Pvt Ltd LT - Fund Based CC ICRA 5 -
B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Amon-Ra Impex Pvt Ltd LT / ST - Unallocated ICRA 116.7 -
B+(Stable)
/ ICRA A4
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Aplab Ltd Fund based - CC ICRA D 128 -
(Issuer did not co-operate; based on best available information.)
Aplab Ltd Fund based – Working ICRA D 132 -
Capital Demand Loan
(Issuer did not co-operate; based on best available information.)
Aplab Ltd Fund based – Bill ICRA D 110 -
Discounting
(Issuer did not co-operate; based on best available information.)
Aplab Ltd Non-fund based – LOC ICRA D 140 -
(Issuer did not co-operate; based on best available information.)
Ayana Renewable Power Pvt Ltd Non-FBL ICRA A+ & 1000 -
(placed on watch with developing implications)
Ayana Renewable Power Pvt Ltd Unallocated ICRA 1000 -
A+&/ICRA
A1+ &
(placed on watch with developing implications)
Chandralok Textile Industries FBL ICRA D 93.2 -
Pvt Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Datacom Products (India) Pvt. LT – Fund based ICRA D 40 -
Ltd
(Issuer did not co-operate; based on best available information.)
Datacom Products (India) Pvt. LT/ST – Unallocated ICRA D/ICRA 40 -
Ltd D
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Decor Paper Mills Ltd LT - Fundbased CC ICRA 130 -
B+(Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Eco Roots Foods India Pvt Ltd FBL ICRA 197 Withdrawn
B+(Stable)
(Issuer not Cooperating)
Eco Roots Foods India Pvt Ltd Non-FBL ICRA 3 Withdrawn
B+(Stable)
(Issuer not Cooperating)
Emerald Alchymicus Pvt Ltd FBL ICRA D 75 -
(Issuer did not co-operate; based on best available information.)
Emerald Alchymicus Pvt Ltd Non-FBL ICRA D 57.5 -
(Issuer did not co-operate; based on best available information.)
Excel Foods Pvt Ltd LT FB TL ICRA BB 5 -
(Stable)
(Issuer did not co-operate; based on best available information.)
Excel Foods Pvt Ltd LT fundbased/CC ICRA BB 140 -
(Stable)
(Issuer did not co-operate; based on best available information.)
Forming India Pvt Ltd LT – Fund Based (CC) ICRA 30 Reaffirmed
BB-(Stable)
Forming India Pvt Ltd LT – Fund Based (TL) ICRA 122.9 Reaffirmed
BB-(Stable)
Forming India Pvt Ltd LT – Unallocated ICRA 5.1 Reaffirmed
BB-(Stable)
Geetanjali University Working Capital LimitsICRA BBB- 211.6 -
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Geetanjali University TL ICRA BBB- 438.4 -
(Stable)
(Rating moved to ‘Issuer Not Cooperating’ category)
Goldstar Metal Solutions Pvt Fund based – CC ICRA D - -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Goldstar Metal Solutions Pvt Fund based – ICRA D 100 -
Ltd Packaging Credit
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics LT - Fund Based/ CC ICRA BB- 30 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics LT - Fund Based TL ICRA BB- 9.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics LT - Non Fund Based ICRA BB- 30 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics LT - Unallocated ICRA BB- 30.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ini Design Studio Pvt. Ltd. FB Overdraft ICRA 34.4 Reaffirmed
BBB-(Stable)
Ini Design Studio Pvt. Ltd. Unallocated Limits ICRA 10.6 Reaffirmed
BBB-(Stable) /A3
Js Estates And Projects Pvt Ltd FB ICRA BB- 80 -
(Stable)
(Issuer did not co-operate; based on best available information.)
K. B. Products Pvt Ltd Fund Based – CC ICRA B 54.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
K. B. Products Pvt Ltd Unallocated Limit ICRA B 15.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
K. M. Fisheries LT - Fund Based/ CC ICRA B+ 153.5 -
(Stable)
(Issuer did not co-operate; based on best available information.)
Khosla Engineering Pvt Ltd LT – Fund Based (CC) ICRA 207.5 Upgraded to
BB-(Stable) ICRA B+
(Stable)
Removed from ‘Issuer Not Cooperating’ category
Khosla Engineering Pvt Ltd LT – Fund Based (TL) ICRA 1.7 Upgraded to
BB-(Stable) ICRA B+
(Stable)
(Removed from ‘Issuer Not Cooperating’ category)
Khosla Engineering Pvt Ltd LT / ST – ICRA - Upgraded to
Interchangeable# BB-(Stable) ICRA B+
(Stable)/
Reaffirmed
(#Long-term / Short-term interchangeable limit of Rs. 14.50 crore is sub-limit of long-term
fund-based cash credit facility of Rs. 20.75 crore,Removed from ‘Issuer Not Cooperating’
category
Khosla Engineering Pvt Ltd LT / ST – Unallocated ICRA 131.9 Upgraded to
BB-(Stable) ICRA B+
/ ICRA A4 (Stable)/
Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd LT - Fund Based/ CC ICRA B- 77.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd LT- Fund Based – TL ICRA B- 820.6 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhuvan Prasad Infra Pvt Ltd LT - Fund Based ICRA 75 -
B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mahalaxmi Cashew Industries LT- Fund Based – ICRA 60 -
Crash Credit B+(Stable)
(Issuer did not co-operate; based on best available information.)
Mahalaxmi Cashew Industries LT- Fund Based – TL ICRA 10 -
B+(Stable)
(Issuer did not co-operate; based on best available information.)
Manoj Trading Co. LT – Fund Based – CC ICRA B+ 300 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd. CC ICRA B+ 30.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd. Proposed Unallocated ICRA B+ 9.5 -
Limits – LT (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mohan Mutha Polytech Pvt Ltd LT - Fund Based (CC) ICRA BB+ 60 Downgraded
(CE) from ICRA
(Stable) BBB-(SO)
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Mohan Mutha Polytech Pvt Ltd LT - Fund Based (TL) ICRA BB+ 180 Downgraded
(CE) from ICRA
(Stable) BBB-(SO)
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
P Kishanchand Textiles Ltd LT FBL^ ICRA - Reaffirmed
B(Stable)
^Sub-limit of short-term non-fund based limit
Palak Ferro Alloys Fund based - CC ICRA D 61 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Palak Ferro Alloys Fund based - TL ICRA D 1 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Palak Ferro Alloys Unallocated ICRA D 138 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Prognosys Medical Systems Pvt LT - Fund Based/ CC ICRA 25 -
Ltd B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Prognosys Medical Systems Pvt LT - Non-Fund Based ICRA 65 -
Ltd B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Seanto Minerals And Energy Ltd Fund Based – CC ICRA D 30 -
(Issuer did not co-operate; based on best available information.)
Seanto Minerals And Energy Ltd Non-fund based – LOC ICRA D 30 -
(Issuer did not co-operate; based on best available information.)
Shanti Developers LT - Fundbased TL ICRA C 74 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sharda Construction And Fund based – TL ICRA BB+ 782.3 Downgraded
Corporation Pvt. Ltd. (Stable) from ICRA
BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And LT – Fund based ICRA BB+ 330 Downgraded
Corporation Pvt. Ltd. Working Capital (Stable) from ICRA
BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And LT – NonFund Based ICRA BB+ 1000 Downgraded
Corporation Pvt. Ltd. (Stable) from ICRA
BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And LT/ST – Unallocated ICRA BB+ 0.7 Downgraded
Corporation Pvt. Ltd. (Stable) / from ICRA
ICRA A4+ BBB
(Stable)/ICRA A3+
(Issuer did not co-operate; based on best available information.)
Shree Hanuman Trust LT - Fund Based TL ICRA 595 -
B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Shriramkrupa Fibers LT - Fundbased TL ICRA 27.5 -
B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Shriramkrupa Fibers LT - Fundbased CC ICRA 50 -
B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Sita Polyweave Pvt. Ltd. CC ICRA B 9.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sita Polyweave Pvt. Ltd. TL ICRA B 46.5 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sita Polyweave Pvt. Ltd. Unallocated Limits ICRA B 24 -
(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sri Jayarama Automotives Pvt Fund Based ICRA 130 -
Ltd BB(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 6000.1 Reaffirmed
- Shri Trust N 2017
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 5000 Reaffirmed
- Shri Trust O 2017
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 5120 Reaffirmed
-Shri Trust P 2017
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 1752.9 Reaffirmed
-Shri Trust Q 2017
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 6946.8 Reaffirmed
-Shri Trust R 2018
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 3740.7 Reaffirmed
-Shri Trust S 2018
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 4582.8 Reaffirmed
-Shri Trust T 2018
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 7337.5 Reaffirmed
-Shri Trust U 2018
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) 5508.7 Reaffirmed
-Shri Trust V 2018
Sundaram Finance Ltd PTC Series A ICRA AAA(SO) - Reaffirmed
-Shri Trust X 2019
Syscon Engineers LT - FB CC ICRA 55 Downgraded
B+(Stable) from ICRA
BB(Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Ti Steels Pvt Ltd LT - Fundbased TL ICRA D 11 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Ti Steels Pvt Ltd LT - Fundbased CC ICRA D 395 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Tvs Credit Services Ltd Silver Trust July ICRA A+(SO) 17.9 Withdrawn
2016 Second Loss
Facility
Tvs Credit Services Ltd Silver Trust July ICRA AAA(SO) 474.9 Withdrawn
2016 PTC Series A1
Uco Bank Upper Tier II Bonds – ICRA A- 5000 Reaffirmed
Basel II
Uco Bank Lower Tier II Bonds – ICRA 8000 Reaffirmed
Basel II A+(Negative)
Wiintrack Exports LT - Fund Based TL ICRA D 30 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Wiintrack Exports ST - Fund Based ICRA D 70 -
(Rating continues to remain under ‘Issuer Not Cooperating’ category )
Zed Vitrified Pvt Ltd FB-TL ICRA B+ 99.6 Downgraded
(Stable) from ICRA
BB- (Stable)
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd FB- CC ICRA B+ 100 Downgraded
(Stable) from ICRA
BB- (Stable)
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd Unallocated Limit ICRA B+ 96 -
(Stable) /
ICRA A4
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ab&Co Global Pvt Ltd Fund based - CC ICRA D #
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Ab&Co Global Pvt Ltd Fund based – ICRA D #
Buyers
Credit
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Ab&Co Global Pvt Ltd Non-Fund Based – ICRA D 500
Letter
of Credit
Rating continues to remain under ‘Issuer Not
Cooperating’ category
Ab&Co Global Pvt Ltd Non-Fund Based – ICRA D #
Bk
Guarantee
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Aequs Engineered Plastics Pvt FB - TL ICRA BB 151.8 Withdrawn
Ltd (Stable)
Aequs Engineered Plastics Pvt FB Fac ICRA BB 90 Withdrawn
Ltd (Stable)
Ajab Singh And Company Fund Based -CC ICRA 182
BB-(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Ajab Singh And Company LT - Non-fund Based ICRA 200
BB-(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Anoop Forgings Pvt Ltd FB - CC** ICRA B- 40 Reaffirmed
(Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd FB - Packing Credit** ICRA B- 30 Reaffirmed
(Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd FB - FOBP/ FOUBP/ ICRA B- 30 Reaffirmed
FOUBNLC/ FAUBC/ FABC**(Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd LT / ST - ICRA B- - Reaffirmed
Interchangeable (Stable)/
ICRA A4
Arohan Financial Services PTC Series A1 Provisional 655.8 Confirmed as
Ltd-Aavishkaar Msme rating of final
February
2019 ICRA BBB+(SO)
Asa International India PTC Series A1 ICRA AA(SO) - Upgraded
Microfinance Ltd-Northern Arc from ICRA
2018 Mfi Icarus A-(SO)
Asa International India PTC Series A2 ICRA AA(SO) - Upgraded
Microfinance Ltd-Northern Arc from
ICRA 2018 Mfi Icarus BBB+(SO)
Ashoka Dhankuni Kharagpur FB -TL ICRA 16060 Reaffirmed
Tollway Ltd BBB+(SO)
(Stable)
Ashoka Highways (Durg) Ltd NCD Programme ICRA A-(SO) 2000 Reaffirmed
(Stable)
Asian Construction Company LT– Fund Based ICRA BBB- 275
(Positive)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Asian Lakto Industries Ltd Fund Based -CC ICRA 130
B+(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Backbone Mnmp Highway Pvt. Ltd FB - TL ICRA 517 Reaffirmed
BBB+(Stable)
Backbone Mnmp Highway Pvt. Ltd Unallocated Limits ICRA 68 Reaffirmed
BBB+(Stable)
Bahuleyan Charitable Foundation LT FB -TL ICRA 80 Reaffirmed
BB(Stable)
Bahuleyan Charitable Foundation LT FB - CC ICRA 7.5 Reaffirmed
BB(Stable)
Benson Medical Equipments CC ICRA BB- 15
(India) Pvt Ltd (Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
Benson Medical Equipments Unallocated ICRA BB- 4
(India) Pvt Ltd (Stable)/A4
Rating continues to remain in ‘Issuer Not Cooperating’ category
Bhagyanagar Chlorides Pvt Ltd Fund based/CC ICRA BB 120 Outstanding
(Stable)
Bhagyanagar Chlorides Pvt Ltd TL ICRA BB 130 Assigned
(Stable)
Bharat Agri Fert And Realty Ltd FBL ICRA BB 150 Reaffirmed
(Stable)
Bicero Tiles Llp TL ICRA 150 Reaffirmed
B+(Stable)
Bicero Tiles Llp CC ICRA 70 Reaffirmed
B+(Stable)
Buildmet Pvt Ltd TL ICRA BB 47.2
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Buildmet Pvt Ltd Fund based- ICRA BB 120
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Cholamandalam Investment And Second Loss Facility ICRA A(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust
December 2017
Tranche II
Cholamandalam Investment And PTC Series A ICRA AAA(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust
December 2017
Tranche II
Cholamandalam Investment And Second Loss Facility ICRA AA-(SO) - Upgraded
Finance Co. Ltd-Platinum from ICRA
Trust February 2017 A(SO)
Cholamandalam Investment And PTC Series A ICRA AAA(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2017
Cholamandalam Investment And Second Loss Facility ICRA A(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2018
Cholamandalam Investment And PTC Series A ICRA AAA(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2018
Cholamandalam Investment And Second Loss Facility ICRA A+(SO) - Upgraded
Finance Co. Ltd-Platinum from ICRA
Trust June 2017 A(SO)
Cholamandalam Investment And PTC Series A ICRA AAA(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust June 2017
Cholamandalam Investment And Second Loss Facility ICRA A+(SO) - Upgraded
Finance Co. Ltd-Platinum from ICRA
Trust March 2017- Tranche II A(SO)
Cholamandalam Investment And PTC Series A ICRA AAA(SO) - Reaffirmed
Finance Co. Ltd-Platinum
Trust March 2017-
Tranche II
D C Metals Fund based - CC ICRA D 300 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd Fund based - CC ICRA B+ 120
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd Fund based – TL ICRA B+ 10.4
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Decor Paper Mills Ltd LT - Fundbased CC ICRA B+ 130
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Dmk Particleboard Llp CC ICRA
B+(Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Dmk Particleboard Llp TL ICRA
B+(Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
Eric Apparel Pvt Ltd PLC /PCFC /FDBD /FDBP ICRA BB+ 66 Withdrawn
/PSCFC (Stable) /
ICRA A4+
Eric Apparel Pvt Ltd FDBN / PSCFC ICRA BB+ 60 Withdrawn
(Stable) /
ICRA A4+
Eric Apparel Pvt Ltd Unallocated ICRA BB+ 4 Withdrawn
(Stable) /
ICRA A4+
Faith Lumber Pvt. Ltd Fund based- CC ICRA B+ 217.5 Withdrawn
(Stable)
Faith Lumber Pvt. Ltd Unallocated ICRA 32.5 Withdrawn
B+(Stable)
/ ICRA A4
Finolite Ceramic Proposed Limits ICRA B 235
(Stable) /
ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
G.N. Pal And Sons Fund based - CC ICRA B+ 130 Withdrawn
(stable)
G.N. Pal And Sons Fund based - TL ICRA B+ 10 Withdrawn
(stable)
Gaursons Realty Pvt Ltd LT FB – TL ICRA BBB 1500 Withdrawn
(SO)
(Positive)
Himalaya Food International Ltd LT Fund Based-CC ICRA D 616.4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd LT Fund Based-TL ICRA D 1361.1
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd LT -Non Fund Based ICRA D 70
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd ST Non fund Based ICRA D 12.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
India Shelter Finance PTC Series A1 ICRA AA-(SO) - Upgraded
Corporation Ltd-Elbe Sbl from ICRA
Ifmr Capital 2017 A+(SO)
India Shelter Finance PTC Series A2 ICRA - Upgraded
Corporation Ltd-Elbe Sbl BBB+(SO) from ICRA
Ifmr Capital 2017 BBB(SO)
India Shelter Finance PTC Series A2 ICRA AA(SO) - Upgraded
Corporation Ltd-Sinnan from ICRA
Ifmr Capital 2014 AA-(SO)
India Shelter Finance PTC Series A1 ICRA AA+(SO) - Upgraded
Corporation Ltd-Sinnan from ICRA
Ifmr Capital 2014 AA(SO)
Indiabulls Housing Finance PTC Series A ICRA AAA(SO) - Reaffirmed
Ltd-Innovation Trust
Xx Mar 14
Indiabulls Housing Finance PTC Series A ICRA AAA(SO) - Reaffirmed
Ltd-Innovation Trust
Xxix Sept
2017
Indiabulls Housing Finance PTC Series A ICRA AAA(SO) - Reaffirmed
Ltd-Innovation Trust
XXVIII Jun 2017
Iron Triangle Ltd FB/Non-FBL - 0 -
Iron Triangle Ltd FB - TL ICRA 732.2 Reaffirmed
A(Stable)
Iron Triangle Ltd FB - Working Capital ICRA 1070 Reaffirmed
Fac A(Stable)
Iron Triangle Ltd Unallocated Limits ICRA 340.9 Reaffirmed
A(Stable) /
ICRA A1
Kailash Devbuild (India) Pvt LT –Fund Based – CC ICRA 100
Ltd BB+(Stable)
Reason for delay in carrying out periodic review.- Issuer not cooperating
Kribhco Infrastructure Ltd TL ICRA AA(SO)& 1675
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Kribhco Infrastructure Ltd NCDs ICRA AA(SO)& 1250
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
L&T Metro Rail (Hyderabad) Ltd NCD Programme I ICRA 2500 Reaffirmed
(NCD-I) AAA(SO)
(Stable)
L&T Metro Rail (Hyderabad) Ltd NCD Programme II ICRA 2500 Reaffirmed
(NCD-II) AAA(SO)
(Stable)
L&T Metro Rail (Hyderabad) Ltd NCD Programme III ICRA 2500 Reaffirmed
(NCD-III) AAA(SO)
(Stable)
L&T Metro Rail (Hyderabad) Ltd NCD Programme IV ICRA 1000 Reaffirmed
(NCD-IV) AAA(SO)
(Stable)
L&T Metro Rail (Hyderabad) Ltd NCD Programme V ICRA 1500 Reaffirmed
(NCD-V) AAA(SO)
(Stable)
M/S Karun Rice & General Mills CC ICRA B 65
(Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
M/S Karun Rice & General Mills Unallocated ICRA B 5
(Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
Manubhai Mangaldas Securities LT Fund Based Bk LinesICRA BB 40 -
Pvt Ltd (Stable)
Reason for delay in carrying out periodic review: Review process is underway.
Mishtann Foods Ltd FB CC ICRA 379.5 Reaffirmed
BBB(Stable)
Mishtann Foods Ltd FB TL ICRA 25.9 Reaffirmed
BBB(Stable)
Mishtann Foods Ltd Unallocated Limits ICRA 14.6 Reaffirmed
BBB(Stable)
Moti Industries CC Fac ICRA BB- 100
(Stable)
Reason for delay in carrying out periodic review- Issuer Not Co-operating
Moti Industries Unallocated ICRA BB- 16
(Stable)
Reason for delay in carrying out periodic review- Issuer Not Co-operating
Muthoot Vehicle & Asset LT (LT) – Fund based ICRA BBB+ 1000
Finance Ltd
Reason for delay in carrying out periodic review:- Review process is underway
Oshina Expo Pvt Ltd LT/Fund BasedCC ICRA B 50
(Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Oshina Expo Pvt Ltd LT/Unallocated ICRA B 40
(Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Panache Exports Pvt Ltd LT FB Limit ICRA D 70
Rating continues to remain under ‘Issuer Not Cooperating’ category
Panache Exports Pvt Ltd ST FB Limits ICRA D 210
Rating continues to remain under ‘Issuer Not Cooperating’ category
Panache Exports Pvt Ltd ST Non-FBL ICRA D 27.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
Parvati Solvent Extraction Pvt Fund based - CC ICRA D 100
Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Parvati Solvent Extraction Pvt Fund Based – TL ICRA D 27.1
Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Pravin Electricals Pvt Ltd Fund based - CC ICRA B+ 70 Downgraded
(Stable) from ICRA BB
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Prehari Protection Systems Fund Based - Working ICRA D 20 Downgraded
Pvt. Ltd Capital from ICRA BB
(Stable)
rating continues in the ‘Issuer Not Cooperating’ category
Prehari Protection Systems Unallocated ICRA D 3.4 Downgraded
Pvt. Ltd from ICRA BB
(Stable)
rating continues in the ‘Issuer Not Cooperating’ category
Prehari Protection Systems Non-fund Based ICRA D 26.6 Downgraded
Pvt. Ltd from ICRA A4+
rating continues in the ‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd LT - Fund Based/ CC ICRA BB- 25
(Formerly Andhra Sinter Ltd) (Stable)
Rating Moved to‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd LT - Fund Based TL ICRA BB- 100
(Formerly Andhra Sinter Ltd) (Stable)
Rating Moved to‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd LT / ST - Unallocated ICRA BB- 125
(Formerly Andhra Sinter Ltd) (Stable)/A4
Rating Moved to‘Issuer Not Cooperating’ category
Protac Foods International Pvt LT - Fund Based CC ICRA D 40
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Protac Foods International Pvt LT - Fund Based TL ICRA D 180
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rathnavel Subramaniam LT: TL ICRA D 840
Educational Trust
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Roop Automotives Ltd LT Fund Based: TL ICRA BBB+ 531.1
(Stable)
Downgraded from ICRA A-(Stable) / Rating continues to remain under ‘Issuer Not Cooperating’
category
Roop Automotives Ltd LT/ST-FBL ICRA BBB+ 1305
(Stable)
/ICRA A2
Downgraded to from ICRA A-(Stable)/A2+/ Rating continues to remain under ‘Issuer Not
Cooperating’ category
S.P.Mani And Mohan Dairy LT - Fund Based/ CC ICRA BBB- - Assigned
(India) Pvt Ltd (Stable)
Salguti Industries Ltd LT - Fund Based/ CC ICRA 174 Reaffirmed
B+(Stable)
Salguti Industries Ltd LT - Fund Based TL ICRA 76.9 Reaffirmed
B+(Stable)
Salguti Industries Ltd LT - Non Fund Based ICRA 1.5 Reaffirmed
B+(Stable)
Salguti Industries Ltd LT - Unallocated ICRA 47.6 Reaffirmed
B+(Stable)
Sankalp Engineering And Fund Based – CC ICRA D 450
Services Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sankalp Engineering And Fund Based – TL ICRA D 390.9
Services Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sawlani Synthetics Pvt. Ltd Bk loans ICRA 145
C+/ICRA A4
Reason for delay in carrying out periodic review –Issuer delayed in giving information
Sepal Ceramic FB – TL ICRA B+ 12.4
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sepal Ceramic FB – CC ICRA B+ 34
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sepal Ceramic Unallocated Limits ICRA B+ 14.9
(Stable) /
ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shree Navkar Tex Creations LT Fund based ICRA 100
(Erstwhile Navkar Tex B+(Stable)
Creations)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shri Shyamji Agrico Exports CC ICRA D 152.5
Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’category
Shri Shyamji Agrico Exports TL ICRA D 57.2
Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’category
Shri Shyamji Agrico Exports Unallocated ICRA D 2.8
Pvt Ltd
Ratingcontinues to remain in ‘Issuer Not Cooperating’category
Siechem Technologies Pvt. Ltd FB Fac ICRA 810 Assigned
A-(Stable)
Siechem Technologies Pvt. Ltd Fund based (Sub ICRA - Assigned
limits) A-(Stable)
Siechem Technologies Pvt. Ltd LT/ST, Unallocated FacICRA 1260 Assigned
A-(Stable) /Outstanding
/ ICRA A2+
Sirwar Renewable Energy Pvt Ltd LT - Fund Based TL ICRA 100 Assigned
BB(Stable)
Small Business Fincredit India LT Bk Lines Programme ICRA 28656 Assigned
Pvt Ltd A(stable) /Outstanding
Small Business Fincredit India NCD Programme ICRA 4000 Outstanding
Pvt Ltd A(stable)
Sri Srinivasa Educational And LT Fund based ICRA 903.6
Charitable Trust BB+(Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Srilanand Mansions Pvt Ltd LT - TL ICRA BBB- 400
(Stable)
Reason for delay in carrying out periodic review: Issuer delay in providing information
Srilanand Mansions Pvt Ltd LT- Non fundbased ICRA BBB- 100
limits (Stable)
Reason for delay in carrying out periodic review: Issuer delay in providing information
Sudarshan Tv Channel Ltd LT Fund based ICRA D 164
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sudarshan Tv Channel Ltd Unallocated ICRA D 19.8
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sunpack Barrier Films Pvt. Ltd FB - CC ICRA 40 Assigned
BB+(Stable)
Sunpack Barrier Films Pvt. Ltd FB -TL ICRA 49.6 Assigned
BB+(Stable)
Topland Engines Pvt Ltd Packing Credit - 0 -
Topland Engines Pvt Ltd LOC - 0 -
Topland Engines Pvt Ltd BG - 0 -
Topland Engines Pvt Ltd CC^ ICRA BBB+ 150 Reaffirmed
(Stable)
^includes bank guarantee as a sub limit
Topland Engines Pvt Ltd Unallocated Limits 7.5 Reaffirmed
Vinayak International FB ICRA 200
B+(Stable)
Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info
Yash Pal & Sons (Huf) LT Fund based ICRA 195
B+(Stable)
Ratingcontinues to remain in the ‘Issuer Not Cooperating’category
--------------------------------------------------------------------------------------------
$: 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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