ICRA ratings for Indian debt instruments-Aug 14

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ICRA ratings for Indian debt instruments-Aug 14
Credit: © Reuters.

Aug 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS: ICRA )) for local debt instruments as of August 13, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

-----

--------- SHORT TERM RATINGS: ------------------- Harinagar Sugar Mills Ltd

Non-FBL

ICRA A2+

150 Downgraded from ICRA A1 Kothari Metals Ltd

Non-Fund Based- LOC ICRA BBBA2+ 2640

Reaffirmed Meghalaya Power Ltd

Non-FB Fac

ICRA A1+

35

Reaffirmed Nisiki India Pvt Ltd

ST Non-FB LOC

ICRA A4

80

Reaffirmed Orient Exchange And Financial

ST - Non-fund based ICRA A3

90

Assigned Reliance Power (NS: RPOL ) Ltd

CP/ ST debt

ICRA D

-

Withdrawn

Programme/ NCD (with

maturity of less than one year) Issuer Not Cooperating Services (P) Ltd

(Proposed) Shree Polyester Industries Pvt

Non-fund based – LOC ICRA A4+

25

Reaffirmed Ltd Star Cement Meghalaya Ltd

Non-FB Fac

ICRA A1+

100

Reaffirmed Stefina Ceramic Pvt. Ltd.

Non-fund based – BG ICRA A4

12.5

Withdrawn The Andhra Sugars Ltd

Non-fund

ICRA A1+

1000

Reaffirmed

based-Working Capital

Fac MEDIUM TERM RATINGS: ------------------- The Andhra Sugars Ltd

Fixed Deposits

MAA-

2500

Reaffirmed LONG TERM RATINGS: ------------------- Blue Dart Aviation Ltd

TL

ICRA AA

750

Reaffirmed Blue Dart Aviation Ltd

LT FB Limits

ICRA AA

100

Reaffirmed Blue Dart Aviation Ltd

LT/ST Non-FBL

ICRA AA /A1+ 750

Reaffirmed Blue Dart Express (NS: BLDT ) Ltd

TL

ICRA AA

750

Reaffirmed Blue Dart Express Ltd

NCD (NCD)

ICRA AA

711.8 Reaffirmed Blue Dart Express Ltd

LT/ST Fundbased LimitsICRA

300

Reaffirmed

AA/ICRA A1+ Blue Dart Express Ltd

LT/ST Non-FBL

ICRA

61.5

Reaffirmed

AA/ICRA A1+ Daikin Airconditioning India

CC (Proposed)

ICRA AAA

1000 Pvt Ltd Upgraded from ICRA AA+ Daikin Airconditioning India

Issuer Rating

ICRA AAA

- Pvt Ltd Upgraded from ICRA AA+ Dvara Kshetriya Gramin

Bk Loans

ICRA BBB

2000 Financial Services Pvt Ltd Upgraded from ICRA BBB- Dvara Kshetriya Gramin

Subordinated Debt

ICRA BBB

300 Financial Services Pvt Ltd Upgraded from ICRA BBB- Harinagar Sugar Mills Ltd

FB TL

ICRA A-

1515.2 Downgraded from ICRA A Harinagar Sugar Mills Ltd

FB Limits

ICRA A-

3100 Downgraded from ICRA A Intas Pharmaceuticals Ltd

LT / ST, Fundbased / ICRA

11000 Reaffirmed

Non-FBL Fund based-TL AA/ICRA A1+ International Infrabuild Pvt

NCD (NCD)

ICRA AA-(S) 900

Withdrawn Ltd Ireo Hospitality Company Pvt

LT FB limits

ICRA BB-

8633 Ltd revised from ICRA BB+ Ireo Hospitality Company Pvt

LT non-FBL

ICRA BB-

600 Ltd revised from ICRA BB+ Kothari Metals Ltd

Fund Based - CC

ICRA BBB+

-

Reaffirmed Magnasoft Consulting India Pvt

Fund based- CC

ICRA BB+(SO) 130 Ltd Downgraded from ICRA BBB+@; removed from watch with negative implications; @ - Under rating watch with negative implications Magnasoft Consulting India Pvt

Fund based- TL

ICRA BB+(SO) 20 Ltd Downgraded from ICRA BBB+@; removed from watch with negative implications; @ - Under rating watch with negative implications Meghalaya Power Ltd

FB – CC

ICRA AA-

280

Reaffirmed Nanjappa Trust

LT - Fund Based TL

ICRA BBB-

105 Rating continues to remain under ‘Issuer Not Cooperating' category Nanjappa Trust

LT - Fund Based CC

ICRA BBB-

25 Rating continues to remain under ‘Issuer Not Cooperating' category Nanjappa Trust

LT -Unallocated

ICRA BBB-

220 Rating continues to remain under ‘Issuer Not Cooperating' category Nisiki India Pvt Ltd

LT FB CC

ICRA B+

100

Reaffirmed Orient Exchange And Financial

LT - Fund based

ICRA BBB-

160

Assigned Services (P) Ltd

(Proposed) Reliance Power Ltd

LT NCDs (NCD)

ICRA D

7950

Reaffirmed Issuer Not Cooperating Reliance Power Ltd

LT Loans

ICRA D

12000^ Reaffirmed Issuer Not Cooperating; ^includes ECB of US$ 13 mn Reliance Power Ltd

LT - FBL ST – Non-FBL ICRA D

490

Reaffirmed Issuer Not Cooperating Reliance Power Ltd

Non-FBL (B/G and L/C) ICRA D/

2450

Reaffirmed

ICRA D Issuer Not Cooperating Shree Polyester Industries Pvt

Fund based – CC

ICRA BB

123

Reaffirmed Ltd Shree Polyester Industries Pvt

Fund based – TL

ICRA BB

79.1

Reaffirmed Ltd Shriram Transport (NS: SRTR ) Finance Co.

PTC Series A1

ICRA AAA(SO) 4156.6 Assigned Ltd- Sansar Trust July 2019 Shriram Transport Finance Co.

PTC Series A2

ICRA AAA(SO) 4156.6 Assigned Ltd- Sansar Trust July 2019 Sri Ramalingeswara Aqua Feeds

FBL

ICRA B+

60

Reaffirmed Sri Venkateswara Aqua Culture

FB limits

ICRA B+

120

Reaffirmed Star Cement Meghalaya Ltd

FB – CC

ICRA AA-

750

Reaffirmed Stefina Ceramic Pvt. Ltd.

Fund based- CC

ICRA B-

30

Withdrawn Stefina Ceramic Pvt. Ltd.

Fund based- TL

ICRA B-

41.2

Withdrawn Stefina Ceramic Pvt. Ltd.

Fund based-

ICRA B-

12.4

Withdrawn

Unallocated Limit Suvidha Realtors And

LT - TL

ICRA BB-

155

Assigned Constructions Pvt Ltd The Andhra Sugars Ltd

Fund based- Working ICRA A+

1400

Reaffirmed

Capital Fac The Andhra Sugars Ltd

Unallocated Limits

ICRA A+

100

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.

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