(Repeating to add more Ratings.)
Nov 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 06,07,08&09 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Ars Steels And Alloy ST: Non-FB Fac ICRA A2 1060 Upgraded
International Pvt Ltd from ICRA A3
Asian Food Industries PSR Limit^ ICRA A3 100 Assigned
^ PCFC-Packing Credit in Foreign Currency, FBD-Foreign Bill Discounting, PSR-Pre Settlement Risk
Aspire Home Finance CP Programm ICRA A1+ 10000 Outstanding
Corporation Ltd
Autometers Energitec Ltd Non-fund based ICRA A4 45 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Autometers Energitec Ltd ST Interchangeable ICRA A4 10 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Azim Premji Trus CP Programme ICRA A1+ 20000 Reaffirmed
Buldana Urban Management MFI Grading M3 - Assigned
Services Pvt. Ltd.
Garg Industries Ltd Non-FBL ICRA A4 20 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Hasham Investment &Trading CP Programme ICRA A1+ 10000 Reaffirmed
Company Pvt Limite
Indotech Transformers Ltd ST –Non-fund based ICRA A3 740 Reaffirmed
Indotech Transformers Ltd ST –Un allocated ICRA A3 120 Reaffirmed
Limits
Karan Development Services ST Non-fund Based ICRA A4 577.8 Reaffirmed
Pvt. Ltd
Mahindra Intertrade Ltd ST, Non-FBL ICRA A1+ 3750 Assigned /
Outstanding
Mahindra Steel Service Centre ST -Non Fund Based ICRA A1+ 1600 Assigned /
Ltd Outstanding
Marikar (Motors) Ltd ST -Fund Based ICRA A4+ 101 Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Pricol Ltd (Erstwhile Pricol ST –Non-fundbased ICRA A2 210 Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol ST – Non -fundbased- ICRA A2 - Outstanding
Pune Ltd) sublimit
Mandovi Casting Pvt Ltd ST NFBL ICRA A4 46.1 Reaffirmed
Removed from ‘Issuer Not Co-operating’ category
Sharp Travels (India) Ltd Non-fund Based ICRA A4 2.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Srei Equipment Finance Ltd CP ICRA A1+ 10000 Outstanding
Standard Consultants Ltd ST –Non-fund based ICRA A4 150 -
(Rating continues to remain under ‘IssuerNot Cooperating’ category)
Tara Exports ST –FB ICRA A4 230 Reaffirmed
Tarish Investment And Trading CP Programme ICRA A1+ 5000 Reaffirmed
Company Pvt Ltd
Veto Switchgears And Cables Ltd Non-FBL ICRA A2 100 Assigned
Vijayalaxmi Cashew Company ST Fund based ICRA A3 3480 -
(Reason for delay in carrying out periodic review:Review process underway)
Vijayalaxmi Cashew Company ST Unallocated ICRA A3 120 -
(Reason for delay in carrying out periodic review:Review process underway)
LONG TERM RATINGS:
-------------------
Ars Steels And Alloy LT, FB Fac ICRA BBB 290 Upgraded
International Pvt Ltd from ICRA
BBB-
Ars Steels And Alloy LT, ProposedTL ICRA BBB 350 Upgraded
International Pvt Ltd from ICRA
BBB-
Asian Food Industries Export Packing ICRA BBB- 1650 Assigned
Credit/PCFC/FBD^^
^^ includes Rs. 41.00 crore as sublimit in the form of CC and Rs. 25.00 crore in the form of
overdraft
Aspire Home Finance Bk Lines Programme ICRA A+ 30000 Outstanding
Corporation Ltd
Aspire Home Finance NCD Programme ICRA A+ 19000 Outstanding
Corporation Ltd
Aspire Home Finance Subordinated Debt ICRA A+ 1000 Outstanding
Corporation Ltd Programme
Aspire Home Finance Market Linked PP-MLDICRA 1000 Assigned
Corporation Ltd Debenture Programme A+
Aspire Home Finance Market Linked PP-MLDICRA 3000 Outstanding
Corporation Ltd Debenture Programme A+
Autometers Energitec Ltd CC ICRA BB- 55 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Autometers Energitec Ltd LT Interchangeable ICRA BB- - -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Bharat Financial Inclusion Ltd PTC Series A1 Provisional 4040.9 Assigned
- Indian Microfinance Loan ICRA AA
Receivablestrust November 2018 A
Bitcon India Infrastructure LT: Fund based ICRA BBB- 75 Withdrawn
Developers Pvt Ltd
Bitcon India Infrastructure LT: Non-fund based ICRA BBB- 900 Withdrawn
Developers Pvt Ltd
Cholamandalam Investment And PTC Series A ICRA AAA - Withdrawn
Finance Companyltd - Platinum
Trust June 2016
Eastman Mettcast Ltd CC ICRA C+ 150 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Eastman Mettcast Ltd TL ICRA C+ 20 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Garg Industries Ltd FB limits ICRA B 220 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Govindbhawan -Karyalaya Fund based-TL ICRA BB 65 Reaffirmed
Govindbhawan -Karyalaya Fund Based-CC ICRA BB 75 Reaffirmed
Hyderabad Metropolitan Water LT Unallocated ICRA BB+ 10000 Assigned
Supply Andsewerage Board
Indotech Transformers Ltd LT –Fund based / CC ICRA BBB- 65 Reaffirmed
Indotech Transformers Ltd Issuer Rating ICRA BBB- - Reaffirmed
International Fresh Farm CC ICRA D 130 -
Products India Ltd
(Rating moved to ‘Issuer Not Cooperating’ category)
International Fresh Farm TL ICRA D 170 -
Products India Ltd
(Rating moved to ‘Issuer Not Cooperating’ category)
Jk Paper Ltd LT FB ICRA A 1220 Withdrawn
Jk Paper Ltd LT unallocated ICRA A 280 Withdrawn
Karan Development Services LT FB CC ICRA BB- 56.5 Reaffirmed
Pvt. Ltd
Karan Development Services LT FB TL ICRA BB- 43.5 Reaffirmed
Pvt. Ltd
Karan Development Services LT/ ST -Unallocated ICRA BB-/A4 302.2 Reaffirmed
Pvt. Ltd
Krishnaiah Motors Pvt Ltd Fund based -CC ICRA BB- 150 Upgraded
from ICRA B+
removed from Issuer not cooperating category
Mandovi Casting Pvt Ltd LT FBL ICRA B 27.6 Downgraded
from ICRA BB-
Removed from ‘Issuer Not Co-operating’ category
Mandovi Casting Pvt Ltd Unallocated limit ICRA B 4.4 Downgraded /
/ICRA A4 Reaffirmed
Removed from ‘Issuer Not Co-operating’ category
Krishnaiah Motors Pvt Ltd Unallocated Limits ICRA BB- 95 Upgraded
from ICRA B+
removed from Issuer not cooperating category
Mahindra Intertrade Ltd LT, FB Limits ICRA AA+ 400 Assigned /
Outstanding
Mahindra Steel Service Centre LT -Fund Based / CC ICRA AA- 650 Assigned /
Ltd Outstanding
Mahindra Steel Service Centre LT -Fund Based TL ICRA AA- 500 Assigned /
Ltd Outstanding
Mahindra Steel Service Centre LT–Unallocated ICRA AA- - Assigned /
Ltd Outstanding
Mann Mediciti Wellness Centre CC ICRA B 58 -
Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Mann Mediciti Wellness Centre Unallocated ICRA B 15 -
Pvt Ltd
(Reason for delay in carrying out periodic review:-Issuer not cooperating)
Marikar (Motors) Ltd LT -Fund Based/ CC ICRA BB+ 140 Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Marikar (Motors) Ltd LT -Fund Based TL ICRA BB+ 35 Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Marikar (Motors) Ltd LT / ST –Unallocated ICRA BB+/A4+ 24 Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Muthoot Capital Services Ltd - PTC Series A2 ICRA AA- - Withdrawn
Quetzal Cv Ifmr Capital 2017
Pricol Ltd (Erstwhile Pricol LT –TL ICRA BBB+ 316.6 Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol LT – Fund based ICRA BBB+ 1450 Outstanding
Pune Ltd)
Pricol Ltd (Erstwhile Pricol LT – unallocated ICRA BBB+ 773.4 Outstanding
Pune Ltd)
Pyrotech Workspace Solutions Fund based –Overdraft ICRA BB- 120 Revised from
Pvt Ltd ICRA BB
Pyrotech Workspace Solutions Non-fund based–BG ICRA BB- 195 Revised from
Pvt Ltd ICRA BB
Pyrotech Workspace Solutions Unallocated ICRA BB- 35 Revised from
Pvt Ltd ICRA BB
Regen Infrastructure And Fund Based Bk Limits ICRA D 200 Revised from
Services Pvt Ltd (LT) ICRA C
Regen Infrastructure And Non-Fund Based Bk ICRA D/D 200 Revised from
Services Pvt Ltd Limits (LT / ST) ICRA C/A4
Sharp Travels (India) Ltd Fund Based-CC ICRA BB- 97.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Shl Agro Foods Inc CC ICRA BB- 65 -
(Rating continues to remain in the‘Issuer Not Cooperating’ category)
Shl Agro Foods Inc TL ICRA BB- 71.9 -
(Rating continues to remain in the‘Issuer Not Cooperating’ category)
Shree Sangameswara Electricals FBL ICRA D 30 -
(Downgraded to ICRA D from ICRA B+ (Stable) and reassigned to ICRA C+)
Shree Sangameswara Electricals Non FB limits ICRA D 70 -
(Downgraded to ICRA D from ICRA A4 and reassigned to ICRA A4)
Standard Consultants Ltd LT-Fund based-CC ICRA B+ 70 -
(Rating continues to remain under ‘IssuerNot Cooperating’ category)
Sunstar Overseas Ltd FBL ICRA D 5684.5 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sunstar Overseas Ltd TL ICRA D 2114.4 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sunstar Overseas Ltd Unallocated Limits ICRA D 451.1 -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Swarnodhayam Credits Pvt Ltd LT Bk Fac ICRA BB- 200 Assigned
Tara Exports LT/ST –Unallocated ICRA B+/A4 20 Reaffirmed
Tara Foods LT/ST –Unallocated ICRA B+/A4 120 Reaffirmed
Veto Switchgears And Cables Ltd FBL ICRA BBB+ 431 Assigned
--------------------------------------------------------------------------------------------
$: 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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