RPT-ICRA ratings for Indian debt instruments-Aug 20

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RPT-ICRA ratings for Indian debt instruments-Aug 20
Credit: © Reuters.

(Repeating to add additional ratings)

Aug 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS: ICRA )) for local debt instruments as of August 19, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

-----

--------- SHORT TERM RATINGS: ------------------- Betterman Engineers Pvt Ltd

Non-Fund Based –BG

ICRA A4

100

Reaffirmed Brady Services Pvt Ltd

BG

ICRA A4

50

Reaffirmed Comstar Automotive

ST Non fund based

ICRA A1+ & 120

outstanding, Technologies Pvt Ltd

Ratings continue to be on watch with developing implications Comstar Automotive

ST Sub limit

ICRA A1+ & -

outstanding, Technologies Pvt Ltd

Ratings continue to be on watch with developing implications J.R. Metal Chennai Ltd

ST, Non-FB Fac

ICRA A3

290

upgraded

from ICRA A4+ J.R. Metal Chennai Ltd

ST, FB Fac

ICRA A3

50

upgraded

from ICRA A4+ Mohan Meakin Ltd

ST: Non-fund Based

ICRA A3+

100

Upgraded

from ICRA A3 Padmavati Chains Pvt Ltd

ST Interchangeable

ICRA A4+

-

Withdrawn Sical Iron Ore Terminals Ltd

ST – Non-fund based ICRA A4(SO) -

downgraded

(sub-limit)

from ICRA

A4+ (SO) Sical Logistics Ltd

ST FB Fac

ICRA A4

295

downgraded

from ICRA A4+ Sical Logistics Ltd

ST – Non-FB Fac

ICRA A4

3830

downgraded

from ICRA A4+ Sical Multimodal And Rail

ST – Non-fund based ICRA A4(SO) 600

downgraded Transport Ltd

from ICRA

A4+ (SO) Sical Saumya Mining Ltd

ST: FB Fac

ICRA A4(SO) 250

downgraded

from ICRA

A4+ (SO) Bharat Biotech International

ST FBL

ICRA A1+

200

Reaffirmed Ltd Bharat Biotech International

ST Non-fund- based

ICRA A1+

1810

Reaffirmed Ltd

Limits Hmc Mm Auto Ltd

ST Non-fund Based TL ICRA A1+

75

Reaffirmed International Tractors Ltd

FB Working Capital FacICRA A1+

100

Reaffirmed International Tractors Ltd

Non-fund Based

ICRA A1+

400

Reaffirmed

Working Capital Fac Jabs International Pvt Ltd

Non-fund Based - LOC ICRA A2

20

Outstanding Modern Communication And

LOC (LC)

ICRA A3

15

Reaffirmed Broadcast Systems Pvt Ltd Modern Communication And

BG

ICRA A3

15

Reaffirmed Broadcast Systems Pvt Ltd Modern Communication And

Credit Exposure

ICRA A3

-

Reaffirmed Broadcast Systems Pvt Ltd

Limit-Sublimit to LC Raajratna Metal Industries Ltd

ST Fund Based-

ICRA A1

3080

Reaffirmed

PC/PCFC/FBD/FBN/PSCFC Raajratna Metal Industries Ltd

ST NFBL

ICRA A1

400

Reaffirmed The Mahabir Jute Mills Ltd

Non-fund Based

ICRA A4

30 Withdrawn; Issuer Not Cooperating The Mahabir Jute Mills Ltd

Unallocated

ICRA A4

33.6 Withdrawn; Issuer Not Cooperating Vlcc Health Care Ltd

ST FB/ non-fund based ICRA A3

145 Downgraded from ICRA A3+ MEDIUM TERM RATINGS: ------------------- Sun Clean Renewable Power Pvt

Fixed Deposits

MA-

-

Reaffirmed Ltd Bilcare Ltd

Proposed fixed

MC

1250

Withdrawn

deposit (FD) programme Issuer Not Cooperating LONG TERM RATINGS: ------------------- Betterman Engineers Pvt Ltd

Fund Based- CC

ICRA B

60

Reaffirmed Brady Services Pvt Ltd

Unallocated

ICRA B+

25

upgraded

from ICRA B+ Brady Services Pvt Ltd

CC

ICRA BB-

25

upgraded

from ICRA B+ Comstar Automotive

LT Fund based

ICRA AA- & 350

outstanding, Technologies Pvt Ltd

ratings

continue to be on watch with developing implications Comstar Automotive

LT/ST Unallocated

ICRA AA-

630

assigned, Technologies Pvt Ltd

&/ICRA A1+ &

ratings

continue to be on watch with developing implications Fjm Cylinders Pvt Ltd

TL

ICRA BB+

61.3

Reaffirmed Fjm Cylinders Pvt Ltd

FB Limits

ICRA BB+ / 60

Reaffirmed

ICRA A4+ Fjm Cylinders Pvt Ltd

Non-FBL

ICRA BB+ / 140

Reaffirmed

ICRA A4+ Fjm Cylinders Pvt Ltd

Unallocated

ICRA BB+ / 526.2 Reaffirmed

ICRA A4+ Gsj Envo Ltd

Fund Based

ICRA BB-

120

upgraded

from ICRA B+ Gsj Envo Ltd

Non-fund Based

ICRA BB-

700

upgraded

from ICRA B+ Gsj Envo Ltd

Unallocated

ICRA BB-

30

upgraded

from ICRA B+ Hero Motocorp Ltd

FB Limits

-

-

- Hero Motocorp Ltd

Non-FBL

-

-

- Hero Motocorp Ltd

Issuer Rating

ICRA AAA

-

outstanding Hero Motocorp Ltd

NCD Programme

ICRA AAA

150

outstanding Hero Motocorp Ltd

Unallocated

ICRA AAA

1949

Reaffirmed Hero Motocorp Ltd

FB and Non-FBL

ICRA AAA

9051

Reaffirmed

/ICRA A1+ J.R. Metal Chennai Ltd

LT, FB Fac

ICRA BBB-

50

upgraded

from ICRA BB+ J.R. Metal Chennai Ltd

LT, Unallocated

ICRA BBB-

50

upgraded

from ICRA BB+ Mohan Meakin Ltd

LT/ST: Unallocated

-

-

- Mohan Meakin Ltd

LT: Fund Based/CC

ICRA BBB-

650

upgraded

from ICRA

BBB- Outlook revised to Positive from Stable Norsea Offshore India Ltd

TL

ICRA D

240

downgraded

from ICRA

BB+ (SO) Padmavati Chains Pvt Ltd

LT FB -CC

ICRA BB

200

Withdrawn Padmavati Chains Pvt Ltd

LT Interchangeable

ICRA BB

-

Withdrawn Pnx Logistics Pvt Ltd

TL 1

ICRA B+(SO) 140

downgraded

from ICRA

BB+ (SO) Pnx Logistics Pvt Ltd

TL 2

ICRA B+(SO) 50

downgraded

from ICRA

BB+ (SO) Pnx Logistics Pvt Ltd

CC

ICRA B+(SO) 140

downgraded

from ICRA

BB+ (SO) Pnx Logistics Pvt Ltd

WCDL

ICRA B+(SO) -

downgraded

/ICRA A4(SO)

from ICRA

BB+ (SO) (Negative)ICRA A4+ (SO) Pnx Logistics Pvt Ltd

LOC

ICRA B+(SO) -

downgraded

/ICRA A4(SO)

from ICRA

BB+ (SO) (Negative)ICRA A4+ (SO) Pnx Logistics Pvt Ltd

BG

ICRA B+(SO) -

downgraded

/ICRA A4(SO)

from ICRA

BB+ (SO) (Negative)ICRA A4+ (SO) Pnx Logistics Pvt Ltd

ST Loan

ICRA B+(SO) -

downgraded

/ICRA

from ICRA

A4(SO);

BB+ (SO) (Negative)ICRA A4+ (SO) Sical Iron Ore Terminals Ltd

LT: TL

ICRA B+ (SO) 5000

downgraded

from ICRA

BB+ (SO) Sical Iron Ore Terminals Ltd

LT – Fund based

ICRA B+ (SO) 400

downgraded

from ICRA

BB+ (SO) Sical Iron Ore Terminals Ltd

LT – Non fund based ICRA B+ (SO) 600

downgraded

from ICRA

BB+ (SO) Sical Iron Ore Terminals Ltd

LT – Non-fund based ICRA B+ (SO) -

downgraded

(sub-limit)

from ICRA

BB+ (SO) Sical Logistics Ltd

NCD Programme

ICRA B+

1000

downgraded

from ICRA BB+ Sical Logistics Ltd

LT – CC

ICRA B+

3000

downgraded

from ICRA BB+ Sical Logistics Ltd

LT – TL Outstanding ICRA B+

5260.1 downgraded

from ICRA BB+ Sical Logistics Ltd

LT – Unallocated

ICRA B+

65.3

downgraded

from ICRA BB+ Sical Multimodal And Rail

NCD Programme

ICRA B+ (SO) 1000

downgraded Transport Ltd

from ICRA

BB+ (SO) Sical Multimodal And Rail

LT – Fund based

ICRA B+ (SO) 400

downgraded Transport Ltd

from ICRA

BB+ (SO) Sical Multimodal And Rail

LT – TL

ICRA B+ (SO) 607.7 downgraded Transport Ltd

from ICRA

BB+ (SO) Sical Saumya Mining Ltd

TL

ICRA B+ (SO) 418.3 downgraded

from ICRA

BB+ (SO) Up Money Ltd -Vivriti Markus

PTC Series A1

Provisional -

Withdrawn 06 2019

ICRA A-(SO) Up Money Ltd -Vivriti Markus

PTC Series A2

Provisional -

Withdrawn 06 2019

ICRA

BBB-(SO) Baldev Textile Mills Pvt Ltd

FB – CC

ICRA BB+

105 Upgraded from ICRA BB Bharat Biotech International

LT FB Limits

ICRA A+

1050

Reaffirmed Ltd outlook retained at Positive Bharat Biotech International

LT / ST

ICRA A+

250

Reaffirmed Ltd

Interchangeable Limits outlook retained at Positive C S Construction Company Pvt

FB - Working Capital ICRA A-

41

Reaffirmed Ltd

Fac C S Construction Company Pvt

Non-fund

ICRA A-

4959

Reaffirmed Ltd

Based-Working Capital

Fac 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- 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- Fusion Microfinance (Pvt.)

PTC Series A1

ICRA A (SO) 498.3 Ltd.- Northern Arc 2019 Mfi Rio Rating of Provisional confirmed as final Fusion Microfinance (Pvt.)

PTC Series A2

ICRA BBB

22.6 Ltd.- Northern Arc 2019 Mfi Rio

(SO) Rating of Provisional confirmed as final Ganga Dairy Ltd

Fund Based: CC

ICRA BB

134 Rating continues to remain under ‘Issuer Not Cooperating' category Ganga Dairy Ltd

Fund Based: TL

ICRA BB

3.5 Rating continues to remain under ‘Issuer Not Cooperating' category Ganga Dairy Ltd

Unallocated Limit

ICRA BB

2.5 Rating continues to remain under ‘Issuer Not Cooperating' category H.R. Educational Foundation

LT– Fund based - TL ICRA D

100

Reaffirmed Trust Hmc Mm Auto Ltd

TL

ICRA AA

80

Reaffirmed Hmc Mm Auto Ltd

LT FB CC

ICRA AA

245

Reaffirmed International Tractors Ltd

FB Working Capital

ICRA

600

Reaffirmed

Fac Unallocated

AA+/ICRA A1+ Jabs International Pvt Ltd

FB - Pre-shipment

ICRA

200

Outstanding

Credit (EPC/PCFC)

BBB+/ICRA A2 Jabs International Pvt Ltd

FB - Post-shipment

ICRA

250

Outstanding

Credit (FBP/FBD/EBR) BBB+/ICRA A2 Jabs International Pvt Ltd

FB - Pre-shipment/

ICRA

710

Postshipment Credit BBB+/ICRA A2

(EPC/PCFC/FBP/FBD) Outstanding /Assigned Modern Communication And

CC

ICRA BBB-

40

Reaffirmed Broadcast Systems Pvt Ltd Modern Communication And

TL

ICRA BBB-

15.5

Reaffirmed Broadcast Systems Pvt Ltd Modern Communication And

Unallocated Limits

ICRA BBB-/A3 59.5

Reaffirmed Broadcast Systems Pvt Ltd Raajratna Metal Industries Ltd

Unallocated Limits

ICRA A /A1 20

Reaffirmed Reliance Home Finance Ltd-

PTC Series A

ICRA BBB

1399.4 Indian Receivable Trust 2019

(SO) Series 1 Provisional rating of ICRA BBB(SO)& confirmed as final; &: The symbol implies that the ratings are under watch with developing implications Sayaji Industries Ltd

Fixed Deposits

MA-

200 Reaffirmed; outlook revised to ‘Negative' from Stable Shubhlaxmi Gum Industries

FB CC

ICRA B

70

Reaffirmed Shubhlaxmi Gum Industries

Unallocated Limits

ICRA B /A4 14.8 Reaffirmed/ Assigned Sun Clean Renewable Power Pvt

TL

ICRA BBB+

393 Ltd Upgraded from ICRA BBB Synergy Property Development

Fund based- Working ICRA A /A1 180 Services Pvt Ltd

Capital Fac Reaffirmed/ Assigned Synergy Property Development

Non-fund

ICRA A /A1 190 Services Pvt Ltd

based-Working Capital

Fac Reaffirmed/ Assigned The Mahabir Jute Mills Ltd

CC

ICRA BB

125 Withdrawn; Issuer Not Cooperating The Mahabir Jute Mills Ltd

TL

ICRA BB

24.5 Withdrawn; Issuer Not Cooperating Vlcc Health Care Ltd

LT FB Bk Fac

ICRA BBB-

390.3 Downgraded from ICRA BBB Vlcc Health Care Ltd

LT unallocated Bk Fac ICRA BBB-

14.7 Downgraded from ICRA BBB Vlcc Personal Care Ltd

LT FB Bk Fac

ICRA BBB-

450 Downgraded from ICRA BBB Vlcc Personal Care Ltd

LT FB TL

ICRA BBB-

100 Downgraded from ICRA BBB -------------------------------------------------------------------------------------------- $: 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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