RPT-ICRA ratings for Indian debt instruments-Sep 11

Last Updated: Tue, Sep 12, 2017 09:39 hrs

(Repeating to add additional ratings as of September 8, 2017) Sep 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of September 8, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Alliance Granimarmo Pvt Ltd ST Fund Based ICRA D 335 Issuer Not Cooperating Alliance Granimarmo Pvt Ltd ST Non Fund Based ICRA D 20 Issuer Not Cooperating Assorted Plastics Pvt Ltd Non-FBL ICRA A4+ 5 Issuer Not Cooperating Bharat Mines And Minerals Non-Fund Based ICRA A4 84.4 Downgraded Facility from ICRA A4+ Chidambaram Shipcare Pvt Ltd SLC ICRA A4+ 28.5 Issuer Not Cooperating Ganesan Builders Ltd ST; Non-FB Fac ICRA A4+ 170 Assigned Jm Financial Asset CP programme ICRA A1+ 7500 Outstanding Reconstruction Co. Ltd Kei Industries Ltd Non-FBL ICRA A2+ 14320 Reaffirmed (earlier Rs. 1135.0 crore) Kei Industries Ltd CP ICRA A2+ 400 Reaffirmed L&T Finance Ltd CP Programme (IPO ICRA A1+ 90000 Withdrawn financing) L&T Infrastructure Finance Co. CP programme (IPO ICRA A1+ 50000 Withdrawn Ltd financing) L&T Infrastructure Finance Co. CP Programme ICRA A1+ 5000 Outstanding Ltd Mahima Fibres Pvt Ltd ST: Non-Fund Based Bk ICRA A2 150 Upgraded Fac (Working Capital) from ICRA A3+ Majestic Auto Ltd Non-fund based ICRA A3+ 142.5 downgraded from ICRA A2 Neptunus Power Plant Services ST FB Limit ICRA A2 36 Reaffirmed Pvt Ltd Neptunus Power Plant Services ST Non-FBL ICRA A2 84 Reaffirmed Pvt Ltd Pm Granite Export Pvt Ltd LT- Export Packing ICRA A4 50 Issuer Not Credit Cooperating Repro India Ltd ST (ST) Non-FBL ICRA A3+ 385 Downgraded from ICRA A2 Repro India Ltd CP ICRA A3+ 200 downgraded from ICRA A2 Sri Adhitya Polyfilms Pvt Ltd ST Non FB Fac ICRA A4 22.5 Issuer Not Cooperating Vk Building Services Pvt Ltd ST - NFBL ICRA A2 810 Reaffirmed Fortis Healthcare Ltd CP/STD ICRA A1+ 10000 Outstanding Developing implications; earlier 1000 cr Fortis Healthcare Ltd Non-FB Limits ICRA A1+ 200 Reaffirmed Developing implications; earlier 10 cr Fortis Hospitals Ltd Non-FB Limits ICRA A1+ 972 Outstanding (SO) Developing implications; earlier 97.20 cr Thangamayil Jewellery Ltd ST - Non-FB Fac ICRA A3 Reaffirmed (sub-limit) MEDIUM TERM RATINGS: ------------------- Kei Industries Ltd Fixed Deposit MA 100 Reaffirmed Thangamayil Jewellery Ltd FD MA- 480 Reaffirmed LONG TERM RATINGS: ------------------- Aavas Financiers Ltd LT Bk Lines ICRA A+ 10480 Upgraded from ICRA A Aavas Financiers Ltd NCD Programme ICRA A+ 3500 Upgraded from ICRA A Ace Pipeline Contracts Pvt Ltd FBL ICRA BB 100 Revised from ICRA BB+ Issuer Not Cooperating Ace Pipeline Contracts Pvt Ltd Non FBL ICRA BB 650 Revised from ICRA BB+ Issuer Not Cooperating Ace Pipeline Contracts Pvt Ltd Interchangeable Limit ICRA BB 80 Revised from ICRA BB+ Issuer Not Cooperating Alliance Granimarmo Pvt Ltd LT Fund Based - TL ICRA D 179.7 Issuer Not Cooperating Alliance Granimarmo Pvt Ltd LT/ST Unallocated ICRA D 45.3 Issuer Not Cooperating Assorted Plastics Pvt Ltd FB Limits ICRA BB+ 26.8 Issuer Not Cooperating Assorted Plastics Pvt Ltd TL ICRA BB+ 54.5 Issuer Not Cooperating Buds Tea Industries Ltd FB – TL ICRA D 140 Issuer Not Cooperating Buds Tea Industries Ltd FB – CC ICRA D 127.5 Issuer Not Cooperating Buds Tea Industries Ltd Non-fund based – BG ICRA D 5 Issuer Not Cooperating Chidambaram Shipcare Pvt Ltd CC ICRA BB+ 25 Issuer Not Cooperating Chidambaram Shipcare Pvt Ltd Unallocated ICRA BB+ 6.5 Issuer Not Cooperating Delhi Airport Parking Services TL ICRA A+ 1100 upgraded Pvt Ltd from ICRA A- (earlier Rs. 147.00 crore) Fortune’S Sparsh Healthcare FB – TL ICRA D 75 Downgraded Pvt Ltd from ICRA B Issuer Not Cooperating Ganesan Builders Ltd LT; FB Fac ICRA BB 170 Assigned Gvk Jaipur Expressway Pvt Ltd FB –TL ICRA A- 7911.7 Revised from ICRA A+ (899.70crs earlier) Highco Engineers Private Limited Fund-based Limits ICRA BBB- 137.8 Issuer Not Cooperating Highco Engineers Private Limited Untied Limit ICRA BBB- 32.2 Issuer Not Cooperating Jm Financial Asset NCD programme ICRA AA- 3500 Assigned Reconstruction Co. Ltd Jm Financial Asset NCD programme ICRA AA- 6500 Outstanding Reconstruction Co. Ltd Jm Financial Asset LT Bk lines ICRA AA- 6500 Outstanding Reconstruction Co. Ltd Jm Financial Asset LT market linked PP-MLDICRA 2000 Outstanding Reconstruction Co. Ltd debenture programme AA- Kei Industries Ltd CC Limits ICRA A- 4500 Reaffirmed (earlier Rs. 410.0 crore) Kei Industries Ltd TL ICRA A- 1610 Reaffirmed (earlier Rs. 233.2 crore) Kei Industries Ltd Unallocated Limits ICRA A- 2400 Reaffirmed /ICRA A2+ (earlier Rs. 221.8 crore) L&T Finance Ltd Perpetual Debt ICRA AA 6000 Outstanding Programme L&T Finance Ltd NCD Programme ICRA AA+ 65190 Outstanding L&T Finance Ltd NCD Programme (Public ICRA AA+ 6817 Outstanding Issuance) L&T Finance Ltd Subordinated Debt ICRA AA+ 13250 Outstanding Programme L&T Infrastructure Finance Co. Perpetual Debt ICRA AA 4000 Outstanding Ltd Programme L&T Infrastructure Finance Co. NCD (Infra Bonds) ICRA AA+ 16650.3 Outstanding Ltd Programme L&T Infrastructure Finance Co. NCD Programme ICRA AA+ 60340 Outstanding Ltd 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 /ICRA A1+ Mahima Fibres Pvt Ltd LT: FB Bk Fac (TL & ICRA BBB 2100 Reaffirmed Working Capital) Mahima Fibres Pvt Ltd Unallocated Bk Fac ICRA BBB 660 Reaffirmed Majestic Auto Ltd TL ICRA BBB 79 Reaffirmed Majestic Auto Ltd FB ICRA BBB 160 Reaffirmed Majestic Auto Ltd Unallocated ICRA BBB 118.5 Reaffirmed Neo Paper Mill Pvt Ltd LT-CC ICRA B- 11.4 Issuer Not Cooperating Revised from 1.50crs Neo Paper Mill Pvt Ltd LT-TL ICRA B- 49.7 Issuer Not Cooperating Revised from 8.50crs Neo Paper Mill Pvt Ltd LT-unallocated Fac ICRA B- 38.9 Issuer Not Cooperating Neptunus Power Plant Services LT & ST Fundbased ICRA BBB 180 Reaffirmed Pvt Ltd Limit /ICRA A2 Orange Bercha Wind Power Pvt. TL ICRA BBB 2910 Revised from Ltd. ICRA BBB- Orange Bercha Wind Power Pvt. CC ICRA BBB 150 Revised from Ltd. ICRA BBB- Pm Granite Export Pvt Ltd LT- TL ICRA C+ 17.2 Issuer Not Cooperating Pm Granite Export Pvt Ltd LT- CC ICRA C+ 7.5 Issuer Not Cooperating Pm Granite Export Pvt Ltd LT/STProposed limits ICRA 29.3 Issuer Not C+/ICRA A4 Cooperating R.K. City Developers Pvt Ltd LT FB Limits ICRA D 180 Revised from ICRA B+ Radius Water Ltd FB Limits ICRA BB+ 234.5 Issuer Not Cooperating Radius Water Ltd Untied Limit ICRA BB+ 25.5 Issuer Not Cooperating Ranjan Fabrics Pvt Ltd LT fund based ICRA B+ 82.5 Issuer Not Cooperating Repro India Ltd LT (LT) Fund Based-TL ICRA BBB 410 Downgraded from ICRA BBB+ Repro India Ltd LT Non-FBL ICRA BBB 50 Downgraded from ICRA BBB+ Repro India Ltd LT/ST FBL ICRA BBB / 1700 Downgraded ICRA A3+ from ICRA BBB+ /ICRA A2 Sama Jewellery Pvt Ltd FB – CC ICRA BB- 85 Issuer Not Cooperating Sri Adhitya Polyfilms Pvt Ltd LT Fund Based - CC ICRA B- 50 Issuer Not Cooperating Sri Adhitya Polyfilms Pvt Ltd LT Fund Based - TL ICRA B- 6.7 Issuer Not Cooperating Sri Adhitya Polyfilms Pvt Ltd LT/ST Unallocated ICRA B- /A4 0.8 Issuer Not Cooperating Tadas Wind Energy Pvt Ltd TL ICRA A- 9250 Upgraded from ICRA BBB+ Tadas Wind Energy Pvt Ltd FB limits ICRA A- 300 Upgraded from ICRA BBB+ Vk Building Services Pvt Ltd LT - Fund Based TL ICRA BBB+ 500 Reaffirmed Vk Building Services Pvt Ltd LT Fund Based CC ICRA BBB+ 400 Reaffirmed Yamuna Syndicate Ltd. Non fund based - - - (reduced from Rs 0.30 crore) Yamuna Syndicate Ltd. Fund based ICRA BBB 45 Reaffirmed (reduced from Rs 9.90 crore) Yamuna Syndicate Ltd. Unallocated ICRA BBB 57 Reaffirmed /ICRA A2 Ald Automotive Pvt Ltd LT Bk Lines ICRA AAA 6500 Reaffirmed (SO) Fortis Healthcare Ltd NCDs ICRA A+ 2500 Outstanding Developing implications; earlier 250 cr Fortis Healthcare Ltd FB Limits ICRA A+ 1050 Reaffirmed Developing implications; earlier 65 cr Fortis Healthcare Ltd TL ICRA A+ 1950 Reaffirmed Developing implications; earlier 104 cr Fortis Hospitals Ltd TL ICRA A+ (SO) 4178 Outstanding Developing implications; earlier 462 cr Fortis Hospitals Ltd FB Limits ICRA A+ (SO) 2350 Outstanding Developing implications; earlier 180 cr Fortis Hospitals Ltd Unallocated Limits ICRA A+ (SO) Final Rating Developing implications India Mortgage Guarantee Issuer Rating ICRA AA Reaffirmed Corporation Pvt Ltd Kec International Ltd FB Limits ICRA A+ 16000 Reaffirmed Kec International Ltd NCD programme ICRA A+ 2500 Reaffirmed Kec International Ltd Non-FBL ICRA A+ /A1+ 104000 Reaffirmed Meera And Co. Ltd FBL-CC ICRA D Downgraded from ICRA C+ Issuer Not Cooperating Meera And Co. Ltd NFBL ICRA D Downgraded from ICRA A4 Issuer Not Cooperating Thangamayil Jewellery Ltd LT - FB Fac ICRA BBB- 231 Reaffirmed Thangamayil Jewellery Ltd LT/ST – Proposed Fac ICRA BBB- 90 Reaffirmed /A3 -------------------------------------------------------------------------------------------- $: 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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