(Repeating to add more ratings.)
Dec 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 27, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Avid Apparel Industries ST – Fund Based ICRA A4 163 Reaffirmed
Avid Apparel Industries ST – Non-Fund Based ICRA A4 15 Reaffirmed
Green Polytubes Pvt Ltd Non-Fund based – BG ICRA A4 4
Rating continues to remain under ‘Issuer Not Cooperating’ category Rating Action
Kamadgiri Fashion Ltd Non-fund based – LOC ICRA A3+ 90 Reaffirmed
Luxmi Tea Company Pvt Ltd FB – ST loan ICRA A2 -
Downgraded from ICRA A2+
Mahindra Logistics Ltd ST, Non-FB Fac ICRA A1+ 150 Reaffirmed
Malhati Tea & Industries Ltd Non-Fund based ICRA A4 1.5
Working Capital
Rating continues to remain under the ‘Issuer Not Cooperating’ category
M/S. Ardhendu Mondal Fund based – CC ICRA D 55
Rating downgraded from ICRA B+ (Stable) and Continues to remain under ‘Issuer Not Cooperating’
category.
M/S. Ardhendu Mondal Unallocated Limit ICRA D 24.8
Rating downgraded from ICRA B+ (Stable) and Continues to remain under ‘Issuer Not Cooperating’
category.
M/S. Ardhendu Mondal Non-Fund based – BG ICRA D 20.2
Rating downgraded from ICRA A4 and Continues to remain under ‘Issuer Not Cooperating’ category.
Munjal Kiriu Industries Pvt Ltd ST Interchangeable ICRA A1 - Reaffirmed
Limits**
**Sub-limits of cash credit facility
Munjal Kiriu Industries Pvt Ltd ST NFBL ICRA A1 52.5 Reaffirmed
N.A. Construction Pvt. Ltd. Non-FBL ICRA A3 815 Reaffirmed
Neo Metaliks Ltd Non-FBL ICRA A2+ 1632 Assigned
Suryalakshmi Cotton Mills Ltd ST FB Limits ICRA A4+@ 180
@ratings placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd ST Non-FB Limits ICRA A4+@ 708.8
@ratings placed on watch with negative implications
Cairo International ST Non fund based ICRA A4 7.5 -
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Iifl Insurance Brokers Ltd CP programme ICRA A1+ 1000 -
Reason for delay in carrying out periodic review:Review process is underway
Iifl Management Services Ltd CP programme ICRA A1+ 2000 -
Reason for delay in carrying out periodic review:Review process is underway
Iifl Securities Ltd CP programme ICRA A1+ 10000 -
Reason for delay in carrying out periodic review:Review process is underway
Iifl Securities Ltd ST Bk Lines ICRA A1+ 6500 -
Reason for delay in carrying out periodic review:Review process is underway
Transworld Terminals Pvt Ltd Non-FBL ICRA A2+ 150 -
Reason for delay in carrying out periodic review: Issuer delaying in providing information
LONG TERM RATINGS:
-------------------
Banox Exim Pvt Ltd FB Limits ICRA BBB 100 Reaffirmed
(Stable)
Banox Exim Pvt Ltd Unallocated Limits ICRA BBB 18.3 Reaffirmed
(Stable)
Clix Capital Services Pvt Ltd PTC Series A1 Provisional 393.4 Assigned
ICRA AA (SO)
Clix Capital Services Pvt Ltd PTC Series A1 Provisional 393.4 Assigned
ICRA AA (SO)
Ganapati Motors FB – CC ICRA D 75
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Ganapati Motors Fund based Dealer ICRA D 210
Financing Scheme
Rating continues to remain under the ‘Issuer Not Cooperating’ category Rating Action
Gautam Industrial Corporation LT, FBL ICRA B+ 50
Pvt. Ltd. (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Green Polytubes Pvt Ltd FB-TL ICRA B 18
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Green Polytubes Pvt Ltd FB-CC ICRA B 40
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Green Polytubes Pvt Ltd Fund based – Standby ICRA B 6
Line of Credit (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gvr Seafoods Proposed limits – ICRA BB- 70 Assigned
LT/ST (Stable)/
ICRA A4
Higher Education Financing Issuer Rating ICRA AA- - Reaffirmed
Agency (Stable) /
Indospace Industrial Park LT – Fund Based ICRA BBB 450 Assigned
Panruti Pvt Ltd (Stable)
Juniper Green Energy Pvt Ltd Non-FBL ICRA BBB 1500 Assigned
(Stable)/
ICRA A3+
Kamadgiri Fashion Ltd FB – CC ICRA BBB 500 Reaffirmed
outlook revised from Stable to Negative
Kamadgiri Fashion Ltd FB – TL ICRA BBB 65.1 Reaffirmed
outlook revised from Stable to Negative
Kamadgiri Fashion Ltd Unallocated limit ICRA BBB/ 34.9 Reaffirmed
ICRA A3+
outlook revised from Stable to Negative
L&T Shipbuilding Ltd Rating Without ICRA A+ -
Explicit Credit
Enhancement
L&T Shipbuilding Ltd NCD (NCD) Programme ICRA AAA 13310 Reaffirmed
(CE)
(Stable)
Lakshmidurga Textiles Pvt Ltd Fund based – CC ICRA B+ -
(Stable)
Reaffirmed and removed from issuer not cooperating category
Luxmi Tea Company Pvt Ltd FB – TL ICRA BBB+ 980
(Stable)
Downgraded from ICRA A- (Negative)
Luxmi Tea Company Pvt Ltd FB – CC ICRA BBB+ 392.5
(Stable)
Downgraded from ICRA A- (Negative)
Luxmi Tea Company Pvt Ltd Unallocated ICRA BBB+ 2.5
(Stable)/
ICRA A2
Downgraded from ICRA A- (Negative)/ ICRA A2+
Mahindra Logistics Ltd LT, FB Fac ICRA AA 500 Reaffirmed
(Stable)
Malhati Tea & Industries Ltd FB – TL ICRA B- 8.9
(Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Malhati Tea & Industries Ltd Fund based – ICRA B- 64.6
Unallocated (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Malhati Tea & Industries Ltd Fund based Working ICRA B- 25
Capital (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Mantra Packaging Pvt Ltd LT, FBL ICRA B 50
(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Multiplier Brand Solutions LT – FB CC ICRA BB+ 250 Assigned
Pvt. Ltd. (Stable)
Munjal Kiriu Industries Pvt Ltd TL ICRA A+ 980 Reaffirmed
(Stable)
Munjal Kiriu Industries Pvt Ltd LT Fund Based ICRA A+ 600 Reaffirmed
(Stable)
N.A. Construction Pvt. Ltd. FBL ICRA BBB- 142.5 Reaffirmed
(Stable)
N.A. Construction Pvt. Ltd. Unallocated Limits ICRA BBB- 76.2 Reaffirmed
(Stable) /
ICRA A3
Neo Metaliks Ltd Fund Based – TL ICRA A- 130 Assigned
(Stable)
Neo Metaliks Ltd Fund Based – Working ICRA A- 735 Assigned
Capital Fac (Stable)
Rlj Multigrain Pvt Ltd FB-CC ICRA B 65
(stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Rlj Multigrain Pvt Ltd FB-TL ICRA B 55
(stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Sagar Grandhi Aqua Farms Proposed limits – ICRA BB- 70 Assigned
LT/ST (Stable)/
ICRA A4
Shilpi Cable Technologies Ltd NCD (NCD) programme ICRA D 270
Rating continues to remain in the ‘Issuer Not Cooperating’ category and under review due to non-
confirmation on ISIN status
Sunborne Energy Gujarat One Fund based- TL Amount ICRA A- 1280
Pvt Ltd (stable)
Suryalakshmi Cotton Mills Ltd TL ICRA BB+@ 1176.9
@ratings placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd LT FB Limits ICRA BB+@ 1670
@ratings placed on watch with negative implications
Suryalakshmi Cotton Mills Ltd LT/ST Unallocated ICRA BB+@/ 441.8
Limits A4+@
@ratings placed on watch with negative implications
The Poona District Police Fund Based - CC ICRA BB+ - Withdrawn
Co-Operative Credit Society Ltd (negative)
Trident Sugars Ltd CC ICRA C 280
Continues to remain under the ‘Issuer Not Cooperating’ category
Trident Sugars Ltd TL ICRA C 139.5
Continues to remain under the ‘Issuer Not Cooperating’ category
Zensar Technologies Ltd LT - Non-fund based ICRA AA+ 140 Reaffirmed
(Stable)
Zensar Technologies Ltd LT/ST - ICRA AA+ 1770 Reaffirmed
Fund based/Non-fund (Stable)/
based ICRA A1+
24/7 Customer Pvt Ltd LT Non-Fund Based ICRA A- 900 -
(Stable)
Reason for delay in carrying out periodic review: Issuer delayed in giving information.
Aryan Construction & Associates Fund based/CC ICRA BB- 50 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Aryan Construction & Associates Non-Fund based/BG ICRA BB- 300 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Cairo International LT Fund based ICRA B 126.1 -
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Cairo International LT/ ST FB ICRA B / 150 -
ICRA A4
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Credible Engineering Bk loan Ratings ICRA BB+ 1000 -
Construction Projects Ltd (Stable)/A4+
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
D Nitin & Company Pvt Ltd Bk loans ICRA BBB- 1000 -
(Stable)
Reason for delay in carrying out periodic review – Review process is underway.
Iifl Securities Ltd LT – Equity linked PP-MLDICRA 1000 -
debenture programme AA (stable)
Reason for delay in carrying out periodic review:Review process is underway
Orix Packaging Pvt Ltd FB – TL ICRA B+ 48.5 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Orix Packaging Pvt Ltd FB – CC ICRA B+ 15 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Pragati Engineering Belgaum FB - Working Capital ICRA B 30 -
Pvt Ltd Fac (Stable)
Reason for delay in carrying out periodic review:Review process is underway
Pragati Engineering Belgaum FB – TL ICRA B 42.8 -
Pvt Ltd (Stable)
Reason for delay in carrying out periodic review:Review process is underway
Pragati Engineering Belgaum LT, Unallocated ICRA B 27.2 -
Pvt Ltd (Stable)
Reason for delay in carrying out periodic review:Review process is underway
Purva Metal Sections Pvt Ltd LT- FB Fac ICRA BBB- 280 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Rahul Silk Mills Pvt. Ltd. FB - TL ICRA BB 90 -
(Stable)
Reason for delay in carrying out periodic review:Review process is underway
Rahul Silk Mills Pvt. Ltd. FB - Working Capital ICRA BB 10 -
Fac (Stable)
Reason for delay in carrying out periodic review:Review process is underway
Renaissance Holdings & LT - TL ICRA BB+ 349 -
Developers (P) Ltd (Stable)
Reason for delay in carrying out periodic review:Review process is underway
Shiva Ferric Pvt Ltd LT- FB Fac ICRA BBB- 350 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Shrinivasa Cattle Feeds Pvt Ltd FB - Working Capital ICRA BB- 270 -
Fac (Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Shrinivasa Cattle Feeds Pvt Ltd Unallocated ICRA BB- 10 -
(Stable)
Reason for delay in carrying out periodic review:Issuer Not Cooperating category
Sms Integrated Facility LT Fundbased CC ICRA BB- 300 -
Services Pvt Ltd (Stable)
Reason for delay in carrying out periodic review:Issuer delaying in giving information
Transworld Terminals Pvt Ltd TL ICRA A- 500 -
(Stable)
Reason for delay in carrying out periodic review: Issuer delaying in providing information
Varsha Multitech LT- FB Fac ICRA BBB- 700 -
(Stable)
Reason for delay in carrying out periodic review:Review process is underway
--------------------------------------------------------------------------------------------
$: 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)
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