(Repeating to add more ratings.)
Mar 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 5, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
A. B. C. Transformers Pvt Ltd Non fund Based: ST ICRA A4 25 -
Reason for delay in carrying out periodic review. - Issuer not co-operating
Avani Petrochem Pvt Ltd LC / Buyers Credit ICRA A4 - -
Limits – Sub limit to
CC
ISSUER NOT COOPERATING
Bommidala Enterprises Pvt Ltd ST – FB Fac ICRA A2+ 250 Reaffirmed
Bommidala Enterprises Pvt Ltd ST – FB Fac (sublimit)ICRA A2+ - Reaffirmed
Bommidala Enterprises Pvt Ltd ST – Non-FB Fac ICRA A2+ 340.6 Reaffirmed
Bommidala Enterprises Pvt Ltd ST – Non-FB Fac ICRA A2+ - Reaffirmed
(sublimit)
Canara Bank CDs Programme ICRA A1+ 500000^ Reaffirmed
^ Amount outstanding as on December 31, 2017 is NIL
Chandi Steel Industries Ltd Non-FBL ICRA A4 15 Reaffirmed
Removed from the ‘Issuer Not Cooperating’ category
Commercial Automobiles Pvt Ltd Long/ST: Unallocated ICRA A4 Withdrawn
Limits
Ginza Industries Ltd Non-fund based ICRA A2 110 Reaffirmed
Paramount International Fund- based- Packing ICRA A4 108 Assigned /
Credit Outstanding
Rkg International Pvt Ltd Non Fund Based- LOC ICRA A4 80 -
ISSUER NOT COOPERATING
Avni Energy Solutions Pvt Ltd ST-Fund Based ICRA D 5 -
ISSUER NOT COOPERATING
Avni Energy Solutions Pvt Ltd ST-NonFund Based ICRA D 10 -
Rkg International Pvt Ltd Non Fund Based ICRA A4 60 -
Foreign Discount Bill
ISSUER NOT COOPERATING
Cholamandalam Investment And CP ICRA A1+ 60000 Outstanding
Finance Co. Ltd
Dynamatic Technologies Ltd Non-FBL – Sub limit ICRA A2 - Reaffirmed
Dynamatic Technologies Ltd Non-FBL ICRA A2 230 Reaffirmed
Goldlites India Pvt Ltd Gold loan ICRA A2+ * Reaffirmed
* sublimit of cash credit facility
Indira Damper Industries ST: Non-fund based ICRA A4+ 130 Reaffirmed
Indira Industries ST: Fund based – EPC* ICRA A4+ * Reaffirmed
*Interchangeable with long term -Cash credit
Indira Industries ST: Non-fund based ICRA A4+ 150 Reaffirmed
L&T Finance Ltd (Erstwhile CP Programme (IPO ICRA A1+ - Withdrawn
Family Credit Ltd) financing)
L&T Finance Ltd (Erstwhile CP Programme ICRA A1+ 185000 Outstanding
Family Credit Ltd)
L&T Housing Finance Ltd CP programme (IPO ICRA A1+ - Withdrawn
financing)
L&T Housing Finance Ltd CP programme ICRA A1+ 50000 Outstanding
L&T Infrastructure Finance Co. CP programme (IPO ICRA A1+ - Withdrawn
Ltd financing)
L&T Infrastructure Finance Co. CP Programme ICRA A1+ 110000 Outstanding
Ltd
Mahindra Logistics Ltd ST, NonFBL ICRA A1+ 50 -
Reason for delay in carrying out periodic review: - Review process is underway
P. C. Chandra & Sons (India) Non FBL ICRA A1 100 Reaffirmed
Pvt Ltd
P. C. Chandra Juels Non FBL (sublimit of ICRA A2+ - Reaffirmed
International Pvt Ltd cc)
P. C. Chandra Juels Gold Loan (sublimit ICRA A2+ - Reaffirmed
International Pvt Ltd of cc)
P.C. Chandra (Jewellers) Pvt Gold Loan ICRA A2+ - Reaffirmed
Ltd
Removed from the ‘ISSUER NOT COOPERATING
Premier Tobacco Packers Pvt Ltd ST – FB Fac ICRA A2+ 600 Reaffirmed
Premier Tobacco Packers Pvt Ltd ST – Non FB Fac ICRA A2+ 50 Reaffirmed
Reliance Nippon Life Asset Reliance Fixed ICRA A1+mf - Assigned
Management Ltd Horizon Fund – XXXVI
– Series 4
Reliance Nippon Life Asset Reliance Interval ICRA A1+mf - Outstanding
Management Ltd Fund - Quarterly
Interval Fund - Series II
Reliance Nippon Life Asset Reliance Liquidity ICRA A1+mf - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Liquid Fund ICRA A1+mf - Outstanding
Management Ltd – Treasury Plan
Shah Tiles Pvt Ltd Non-fund Based – LOC ICRA A4 5 -
ISSUER NOT COOPERATING
Shah Tiles Pvt Ltd Non-fund Based – BG ICRA A4 11 -
ISSUER NOT COOPERATING
Shah Tiles Pvt Ltd Non-fund Based – ICRA A4 3.1 -
Credit Exposure Limit
ISSUER NOT COOPERATING
Skm Steels Ltd ST - Fund Based ICRA A2 1300 Upgraded
from ICRA A3+
Skm Steels Ltd ST - Non Fund Based ICRA A2 50 Upgraded
from ICRA A3+
Urvesh Psyllium Industries Ltd Non-Fund based – ICRA A4 4.4 -
Forward Cover
ISSUER NOT COOPERATING
MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd Medium-Term Fixed MAA+ 1000 Outstanding
Deposits
Reliance Nippon Life Asset Reliance Medium Term ICRA AAAmfS - Outstanding
Management Ltd Fund
LONG TERM RATINGS:
-------------------
Anmol Cold Storage TL ICRA B 69 -
ISSUER NOT COOPERATING
Anmol Cold Storage CC ICRA B 2.5 -
ISSUER NOT COOPERATING
Anmol Cold Storage Unallocated Limits ICRA B /A4 8.5 -
ISSUER NOT COOPERATING
Avni Energy Solutions Pvt Ltd LT-CC ICRA D 70 -
ISSUER NOT COOPERATING
Avni Energy Solutions Pvt Ltd LT Unallocated ICRA D 17.5 -
ISSUER NOT COOPERATING
ISSUER NOT COOPERATING
Commercial Automobiles Pvt Ltd LT: FB Limit ICRA BB- 549.5 Reaffirmed
Commercial Automobiles Pvt Ltd LT: TL ICRA BB- 55 Reaffirmed
Ginza Industries Ltd CC ICRA BBB+ 900 Reaffirmed
Ginza Industries Ltd TL ICRA BBB+ 810 Reaffirmed
Orson Holdings Co. Ltd Bk Fac ICRA BBB- / 270 -
ICRA A3
Review process is underway
Rkg International Pvt Ltd Fund Based- CC ICRA BB- 20 -
ISSUER NOT COOPERATING
Sangli Miraj And Kupwad Issuer Rating ICRA BBB Assigned
Municipal Corporation
Shirdiwale Sai Exim Pvt Ltd Fund Based: LT ICRA D 80 -
ISSUER NOT COOPERATING
Shiv Vegpro Pvt Ltd Fund Based- CC ICRA BBB- 300 -
ISSUER NOT COOPERATING
A. B. C. Transformers Pvt Ltd Fund Based: LT ICRA B+ 47 -
Reason for delay in carrying out periodic review. - Issuer not co-operating
Aditya Hi-Tech Cold Storage TL ICRA B 68 -
ISSUER NOT COOPERATING
Aditya Hi-Tech Cold Storage CC ICRA B 2.5 -
ISSUER NOT COOPERATING
Aditya Hi-Tech Cold Storage Unallocated Limits ICRA B / A4 9.5 -
ISSUER NOT COOPERATING
Assetz Value Homes North Pvt Proposed NCD (NCD) proICRA BB+ 650 Assigned
Ltd
Avani Petrochem Pvt Ltd CC (CC) ICRA BB 356 -
ISSUER NOT COOPERATING
Avani Petrochem Pvt Ltd Corporate Loan ICRA BB 150 -
ISSUER NOT COOPERATING
Baba Jatadhari Agro (India) Bk Fac ICRA B 86.5 -
Pvt Ltd
Reason for delay in carrying out periodic review. - Issuer not co-operating
Bbm Estates Pvt Ltd LT – TL ICRA A- 480 Reaffirmed
Bekem Infra Projects Pvt Ltd Fund based- Cash ICRA A- 500 Reaffirmed
Bekem Infra Projects Pvt Ltd Non-fund based-BG ICRA A- 1600 Reaffirmed
Bekem Infra Projects Pvt Ltd Unallocated Limits ICRA A- 1400 Reaffirmed
Bommidala Enterprises Pvt Ltd LT – TL ICRA A- 96.4 Reaffirmed
Bommidala Enterprises Pvt Ltd LT – FB Fac ICRA A- - Reaffirmed
Bommidala Enterprises Pvt Ltd LT – Proposed ICRA A- 3.6 Reaffirmed
Canara Bank Additional Tier-I ICRA AA 15000 Reaffirmed
Bonds Programme – (hyb)
Basel III
Canara Bank Tier-II Bonds ICRA AAA 79000 Reaffirmed
Programme – Basel III
Canara Bank Lower Tier-II Bonds ICRA AAA 3250 Reaffirmed
Programme
Canara Bank Lower Tier-II Bonds ICRA AAA - Withdrawn
Programme
Chandi Steel Industries Ltd FB Limit ICRA B 60 Reaffirmed
Removed from the ‘Issuer Not Cooperating’ category
Cholamandalam Investment And Long-TL from Bks ICRA AA 89086.6 Assigned /
Finance Co. Ltd Outstanding
Cholamandalam Investment And NCDs! ICRA AA 129682 Outstanding
Finance Co. Ltd
! Non-convertible debenture outstanding as on August 16, 2017
Cholamandalam Investment And Subordinated ICRA AA 22950 Outstanding
Finance Co. Ltd Debentures
Cholamandalam Investment And FB Fac from Bks# ICRA AA 40000 Outstanding
Finance Co. Ltd
# Rs. 4,000.00-crore fund based limits are interchangeable between cash credit and short-term
working capital facilities, subject to total utilisation not exceeding
Cholamandalam Investment And Sub-limit - Non-FBL ICRA AA 1000 Outstanding
Finance Co. Ltd from Bks^
^ Sub-limit of Rs. 100.00-crore working capital facilities, included as part of the rated Rs.
4,000.00-crore fund based facilities from banks
Cholamandalam Investment And Perpetual Debt ICRA AA- 13300 Outstanding
Finance Co. Ltd Instruments
City Tiles Ltd CC ICRA D 350 -
Reason for delay in carrying out periodic review - Issuer not cooperating
City Tiles Ltd TL ICRA D 225.2 -
Reason for delay in carrying out periodic review - Issuer not cooperating
City Tiles Ltd Unallocated Limits ICRA D 124.8 -
Reason for delay in carrying out periodic review - Issuer not cooperating
City Tiles Ltd LOC/ BG ICRA D 140 -
Reason for delay in carrying out periodic review - Issuer not cooperating
Clean Wind Power (Devgarh) Pvt FB-TL ICRA A- 4360 Upgraded
Ltd from ICRA
BBB+
Clean Wind Power (Devgarh) Pvt FB - Working Capital ICRA A- 450 Upgraded
Ltd Fac from ICRA
BBB+
Daftari Agro Pvt Ltd LT, FBL – TL ICRA B+ 17.5 -
ISSUER NOT COOPERATING
Daftari Agro Pvt Ltd LT, FBL – CC ICRA B+ 75 -
ISSUER NOT COOPERATING
Dolly Exim Pvt Ltd BLR ICRA B 180 -
Reason for delay in carrying out periodic review - Review process is underway
Dynamatic Technologies Ltd TL ICRA BBB+ 3690 Revised from
Positive
Dynamatic Technologies Ltd Proposed Limits ICRA BBB+ 0.1 Revised from
Positive
Dynamatic Technologies Ltd FB Limits ICRA BBB+ 1450 Revised from
Positive
Fincare Small Finance Bank Ltd PTC Series A1 Provisional 1049.7 Assigned
ICRA BBB+
Goldlites India Pvt Ltd CC ICRA A- 120 Reaffirmed
Gopinath Dairy Products Pvt Ltd Bk Loans ICRA D 260 -
Reason for delay in carrying out periodic review. - Issuer not co-operating
Indira Damper Industries LT: Fund based – CC ICRA BB+ 60 Reaffirmed
Indira Industries LT: Fund based – CC ICRA BB+ 145 Reaffirmed
Indira Industries LT and ST: UnallocatedICRA BB+ / 20 Reaffirmed
A4+
Indo-Mim Pvt Ltd TL ICRA AA 5221.8 Reaffirmed
Indo-Mim Pvt Ltd FB Fac ICRA AA 1179.5 Reaffirmed
Indo-Mim Pvt Ltd Proposed NCD ICRA AA 6401.3 Reaffirmed
Innovador Traders Pvt Ltd NCD Programme ICRA AA- 5150 Withdrawn
Innovador Traders Pvt Ltd NCD Programme ICRA AA- 4150 Withdrawn
Janalakshmi Financial Services PTC Series A1 ICRA D 55.9 Downgraded
Ltd from ICRA C+
Janalakshmi Financial Services PTC Series A2 ICRA D 72.6 Downgraded
Ltd from ICRA C-
Kishan Gum Industries Fund based-TL ICRA B 14.4 -
ISSUER NOT COOPERATING
Kishan Gum Industries Fund based-CC ICRA B 45 -
ISSUER NOT COOPERATING
L&T Finance Ltd (Erstwhile Perpetual Debt ICRA AA 6000 Outstanding
Family Credit Ltd) Programme
L&T Finance Ltd (Erstwhile NCD Programme ICRA AA+ 65190 Outstanding
Family Credit Ltd)
L&T Finance Ltd (Erstwhile NCD Programme (Public ICRA AA+ 6817 Outstanding
Family Credit Ltd) Issuance
L&T Finance Ltd (Erstwhile Subordinated Debt ICRA AA+ 13250 Outstanding
Family Credit Ltd) Programme
L&T Housing Finance Ltd NCD Programm ICRA AA+ 52500 Outstanding
L&T Housing Finance Ltd Subordinated Debt ICRA AA+ 3000 Outstanding
Programme
L&T Housing Finance Ltd Perpetual Debt ICRA AA+ 1000 Outstanding
Programme
L&T Housing Finance Ltd Bk Lines ICRA AA+/A1+ 29000 Outstanding
L&T Infrastructure Finance Co. Perpetual Debt ICRA AA 4000 Outstanding
Ltd Programme
L&T Infrastructure Finance Co. NCD Programme ICRA AA+ 60340 Outstanding
Ltd
L&T Infrastructure Finance Co. NCD (Infra Bonds) ICRA AA+ 16650.3 Outstanding
Ltd Programme
L&T Infrastructure Finance Co. Subordinated Debt ICRA AA+ 17000 Outstanding
Ltd Programme
L&T Infrastructure Finance Co. Bk Lines ICRA AA+ 70000 Outstanding
Ltd
Magma Fincorp Ltd Second Loss Facility Provisional 23 Assigned
ICRA BBB-
Magma Fincorp Ltd PTC Series A2 Provisional 20 Assigned
ICRA A
Magma Fincorp Ltd PTC Series A1 Provisional 380.2 Assigned
ICRA AA
Magma Fincorp Ltd Liquidity Facility Provisional 7 Assigned
ICRA AAA(SO)
Mahindra Logistics Ltd LT, FundBased Limits ICRA AA 500 -
Reason for delay in carrying out periodic review: - Review process is underway
Natural Storage Solutions Pvt. NCD ICRA BB 40 Downgraded
Ltd. from ICRA BB+
Natural Storage Solutions Pvt. Unallocated NCDs ICRA BB 40 Downgraded
Ltd. from ICRA BB+
P. C. Chandra & Sons (India) CC ICRA A 200 Reaffirmed
Pvt Ltd
P. C. Chandra Gems Pvt Ltd CC ICRA A- 300 Reaffirmed
P. C. Chandra Jewellery Apex CC ICRA A- 150 Reaffirmed
Pvt Ltd
P. C. Chandra Juels CC ICRA A- 120 Reaffirmed
International Pvt Ltd
P.C. Chandra (Jewellers) Pvt CC ICRA A- 250 Reaffirmed
Ltd
Removed from the ‘ISSUER NOT COOPERATING
P.C. Chandra (Jewellers) Pvt Working Capital ICRA A- - Reaffirmed
Ltd Demand Loan
Removed from the ‘ISSUER NOT COOPERATING
Paramount Wheels Pvt Ltd BLR ICRA B+ 255 -
Reason for delay in carrying out periodic review - Issuer not cooperating
Premier Tobacco Packers Pvt Ltd LT – TL ICRA A- 97.5 Reaffirmed
Premier Tobacco Packers Pvt Ltd LT – FB Fac ICRA A- - Reaffirmed
(sub-Limit)
Premier Tobacco Packers Pvt Ltd LT – Proposed/ ICRA A- 2.5 Reaffirmed
unallocated
Rajalaxmi Education Trust LT –TL ICRA BB- 210 -
Reason for delay in carrying out periodic review: - Issuer delayed in sharing information
Rameshwar Cottex Fund based – CC ICRA B 70 -
ISSUER NOT COOPERATING
Rameshwar Cottex Fund based – TL ICRA B 25 -
ISSUER NOT COOPERATING
Reliance Nippon Life Asset Reliance Liquid Fund ICRA AAAmfS - Outstanding
Management Ltd - Cash Plan
Reliance Nippon Life Asset Reliance Money ICRA AAAmfS - Outstanding
Management Ltd Manager Fund
Reliance Nippon Life Asset Reliance Income Fund ICRA AAAmfS - Outstanding
Management Ltd
Reliance Nippon Life Asset Reliance Floating ICRA AAAmfS - Outstanding
Management Ltd Rate Fund – ST Plan
Reliance Nippon Life Asset Reliance ST Fund ICRA AAAmfS - Outstanding
Management Ltd
Reliance Nippon Life Asset Reliance Dynamic Bond ICRA AAAmfS - Outstanding
Management Ltd Fund
Reliance Nippon Life Asset Reliance Bking & PSU ICRA AAAmfS - Outstanding
Management Ltd Debt Fund
Reliance Nippon Life Asset Reliance Corporate ICRA AAmfS - Outstanding
Management Ltd Bond Fund
Riona Laminate Pvt Ltd Fund based-TL ICRA B+ 35 -
ISSUER NOT COOPERATING
Riona Laminate Pvt Ltd Fund based-CC ICRA B+ 30 -
ISSUER NOT COOPERATING
Royalica Tiles Proposed Unallocated ICRA B / A4 70.7 -
Limits
ISSUER NOT COOPERATING
Shah Tiles Pvt Ltd FB – CC ICRA B+ 75 -
ISSUER NOT COOPERATING
Shah Tiles Pvt Ltd Fun-based – TL ICRA B+ 71.4 -
ISSUER NOT COOPERATING
Skm Steels Ltd TL ICRA BBB 71.7 Reaffirmed
Skm Steels Ltd LT - Fund Based ICRA BBB 2700 Reaffirmed
Skm Steels Ltd LT - Unallocated ICRA BBB 178.3 Reaffirmed
Spandana Sphoorty Financial PTC Series A1 Provisional 1475.4 Assigned
Ltd ICRA A+
Surya Oil & Agro Industries Fund based – CC ICRA B+ 70 -
ISSUER NOT COOPERATING
Surya Oil & Agro Industries Fund based – ICRA B+ 37.9 -
Unallocated
ISSUER NOT COOPERATING
Tata Hitachi Construction Fund based/ non- fund ICRA AA-/ 9000 -
Machinery Company Pvt Ltd based A1+
(inter-changeable) Fac
Upgraded from ICRA A+ / Short Term Reaffirmed
Urvesh Psyllium Industries Ltd Fund based – CC ICRA BB- 114 -
ISSUER NOT COOPERATING
V.R. K. Associates Pvt Ltd TL ICRA B 80 -
Reason for delay in carrying out periodic review: Review Process is underway
Visura (India) Ltd CC ICRA B+ 90 Reaffirmed
Visura (India) Ltd Non-FBL ICRA B+ 45 Reaffirmed
Visura (India) Ltd Channel finance ICRA B+ 150 Reaffirmed
Visura (India) Ltd Unallocated ICRA B+ 120 Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)
Our Standards: The Thomson Reuters Trust Principles.