ICRA ratings for Indian debt instruments-Feb 15

Last Updated: Wed, Feb 15, 2017 16:20 hrs

Feb 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of February 14, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Ambey Metallic Ltd Non-FBL ICRA A4 243.5 Reaffirmed Celestial Knits & Fabs Pvt Ltd ST FB ICRA A4 45 Reaffirmed Celestial Knits & Fabs Pvt Ltd ST Non-fund based ICRA A4 21 Reaffirmed Chowgule Industries Pvt Ltd ST, FBL ICRA A1 320 Reaffirmed Chowgule Industries Pvt Ltd ST, NFBL ICRA A1 5 Reaffirmed Delta Infralogistics ST - Fund Based - SLC ICRA A3 30 Reaffirmed (Worldwide) Ltd Delta Infralogistics ST - Non Fund Based - ICRA A3 70 Reaffirmed (Worldwide) Ltd BG Dsm Soft Pvt Ltd ST: FBL ICRA A4 - Withdrawn (Revised from 4.0crs) Ferro Alloys Corporation Ltd Non-fund based Bk Fac ICRA A4 604.9 Upgraded (Working Capital) from ICRA D increased from Rs. 54.00 crore Jambuwala Commodities Pvt Ltd ST Bk lines ICRA A4 400 Reaffirmed Kuna Impex Pvt Ltd Non-FBL ICRA A4 45 Reaffirmed Manoj Trading Company FB - Cheques/ DD ICRA A4 10 Reaffirmed purchases (Sublimit) Panache Exports Pvt Ltd ST: FBL ICRA A4 210 Reaffirmed /Assigned (enhanced from Rs. 18.00crs) Panache Exports Pvt Ltd ST: Non -FBL ICRA A4 55 Reaffirmed /Assigned (enhanced from Rs. 5.00crs) R. D. Exports ST – FB / Non-FBL ICRA A4 60* Reaffirmed *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) Rural Electrification ST borrowing ICRA A1+ 70000* assigned Corporation Ltd programme FY2017 *Short- term borrowings are interchangeable with long-term borrowings, subject to the total borrowings in FY2017 not exceeding Rs. 42,000 crore Sundaram Finance Ltd CP ICRA A1+ 27500 Outstanding Umsl Ltd ST Non-FBL ICRA A2+ 350 Reaffirmed (enhanced from Rs. 25.00 crore) Wohr Parking Systems Pvt Ltd ST, non -fund based ICRA A4+ 90 Reaffirmed /Assigned (enhanced from Rs. 7.50 crore) Yamuna Power And ST, Non-FBL ICRA A3 365 Reaffirmed Infrastructure Ltd MEDIUM TERM RATINGS: ------------------- Sundaram Finance Ltd Fixed Deposits MAAA Outstanding LONG TERM RATINGS: ------------------- Ambey Metallic Ltd FB limits ICRA B+ 56.5 Reaffirmed Barbrik Project Ltd. FBL – TL ICRA BBB+ 135 Assigned Barbrik Project Ltd. FBL – CC ICRA BBB+ 160 Assigned Barbrik Project Ltd. NFBL –BG ICRA BBB+ 115 Assigned Celestial Knits & Fabs Pvt Ltd LT FB – CC ICRA BB- 34 Reaffirmed Chowgule Industries Pvt Ltd LT, FBL – CC ICRA A 130 Reaffirmed Chowgule Industries Pvt Ltd LT, FBL – TL ICRA A 75.6 Reaffirmed Delta Infralogistics LT - Fund Based - CC ICRA BBB- 200 Reaffirmed (Worldwide) Ltd Dsm Soft Pvt Ltd LT: FBL ICRA B+ 140 Reaffirmed (Revised from 10.0crs) Facor Alloys Ltd FB Fac (Working ICRA D 281.6 Reaffirmed Capital) (decreased from Rs. 28.90 crore) Facor Alloys Ltd Non-fund based Bk Fac ICRA D 335.3 Reaffirmed (Working Capital) (decreased from Rs. 34.00 crore) Facor Alloys Ltd Unallocated ICRA D 12.1 Assigned Ferro Alloys Corporation Ltd Fund Based Bk Fac ICRA C 55 Upgraded (TL) from ICRA D reduced from Rs. 65.00 crore Ferro Alloys Corporation Ltd FB Fac (Working ICRA C 439 Upgraded Capital) from ICRA D Finestar Jewellery & Diamonds LT and ST: FB Limit ICRA BB+ / 300 Reaffirmed Pvt Ltd ICRA A4+ Geetanjali Agro Industries LT-CC ICRA B+ 92.5 Reaffirmed reduced from 9.30 cr Geetanjali Agro Industries LT- TL ICRA B+ 6.6 Reaffirmed reduced from 1.13 cr Geetanjali Agro Industries LT- Unallocated Limit ICRA B+ 30.9 Reaffirmed enahnced from 2.57 cr Goldstar Metal Solutions Pvt CC ** ICRA D 100 Reaffirmed Ltd **Sublimit of Packing Credit Goldstar Metal Solutions Pvt Packing Credit ICRA D 100 Reaffirmed Ltd Gulbarga Electricity Supply TL ICRA BBB- 653 Reaffirmed Co. Ltd Gulbarga Electricity Supply FBL ICRA BBB- 1000 Reaffirmed Co. Ltd Kuna Impex Pvt Ltd FB Limits ICRA B+ 54.8 Reaffirmed Mahima Real Estate Pvt Ltd FBL/ TL ICRA BBB+ 700 Reaffirmed (enhanced from 60.0crs) Manoj Trading Company FB - CC limits ICRA B+ 300 Reaffirmed Nirmal Ujjwal Credit LT Bk Lines ICRA BB 300 Assigned Co-Operative Society Ltd Panache Exports Pvt Ltd LT: FBL ICRA B+ 70 Revised from ICRA BB- Prashanth Educational Society TL ICRA BB- 46 Upgraded from ICRA B+ Prashanth Educational Society Unallocated ICRA BB- 24 Upgraded from ICRA B+ Rural Electrification Overall borrowing - 420000* - Corporation Ltd programme FY2017 *Short- term borrowings are interchangeable with long-term borrowings, subject to the total borrowings in FY2017 not exceeding Rs. 42,000 crore Rural Electrification LT borrowing ICRA AAA 350000* assigned Corporation Ltd programme FY2017 *Short- term borrowings are interchangeable with long-term borrowings, subject to the total borrowings in FY2017 not exceeding Rs. 42,000 crore Rural Electrification Rated long- term/ST ICRA AAA / 2059310 Reaffirmed Corporation Ltd borrowing programme ICRA A1+ of previous FYs Sant Foods Pvt Ltd FB Limits ICRA B 150 Reaffirmed Star Automobiles LT: FB limits ICRA BBB- 250 Reaffirmed Star Automobiles (Mp) Ltd LT: FB limits ICRA BB+ 100 Reaffirmed Sundaram Finance Ltd FBL from Bks ICRA AA+ 22500 Assigned /outstanding Enhanced from 1,800 cr Sundaram Finance Ltd Non-FBL from Bks ICRA AA+ 80.8 Reaffirmed /Outstanding Sundaram Finance Ltd NCDs ICRA AA+ 50563 Outstanding Sundaram Finance Ltd NCDs ICRA AA+ 21051 Withdrawn Sundaram Finance Ltd Subordinated Debt ICRA AA+ 9571 Outstanding Sundaram Finance Ltd Subordinated Debt ICRA AA+ 1500 Withdrawn Suntana Textile Mills Pvt Ltd FBL ICRA B- 129.5 Reaffirmed /ICRA A4 Svm Cera Ltd CC ICRA D 55 Reaffirmed Svm Cera Ltd LOC ICRA D 28 Reaffirmed Svm Cera Ltd BG# ICRA D 5 Reaffirmed * Issuer did not co-operate; Based on best available information. Ujjivan Financial Services PTC Series A2 ICRA AA-(SO) 16.8 Withdrawn Ltd(Saika Ifmr Capital 2016) Ujjivan Financial Services PTC Series A1 ICRA AA+(SO) 500 Withdrawn Ltd(Saika Ifmr Capital 2016) Umsl Ltd FBL ICRA A- 800 Reaffirmed (enhanced from Rs. 65.00 crore) Umsl Ltd LT Non-FBL ICRA A- 700** Reaffirmed **Rs 20 crore is fully interchangeable with fund based limits/ (enhanced from Rs. 40.00 crore) Wohr Parking Systems Pvt Ltd LT /ST Unallocated - - - Wohr Parking Systems Pvt Ltd LT, FBL – CC ICRA BB+ 40 Reaffirmed Wohr Parking Systems Pvt Ltd LT, FBL – TL ICRA BB+ 10 Reaffirmed (reduced from Rs. 1.30 crore) Wohr Parking Systems Pvt Ltd LT /ST InterchangeableICRA BB+ 15# Reaffirmed (PC/FC) /A4+ /Assigned (enhanced from Rs. 1.00 crore) /# Long term-short term interchangeable limit of Rs 1.50 crore is sublimit of Long term fund based-Cash Credit of Rs 4.00 crore. Yamuna Power And LT, FBL ICRA BBB- 320.3 Reaffirmed Infrastructure Ltd -------------------------------------------------------------------------------------------- $: 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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