ICRA ratings for Indian debt instruments-Jun 10

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ICRA ratings for Indian debt instruments-Jun 10
Credit: © Reuters.

Jun 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS: ICRA )) for local debt instruments as of June 7, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

-----

--------- SHORT TERM RATINGS: ------------------- Bhadra International (India)

ST - Non-fund Based ICRA D

780

Reaffirmed Pvt Ltd Crystal Granite And Marble Pvt

ST: Fund based

ICRA A4+

254

Reaffirmed Ltd Crystal Granite And Marble Pvt

ST: Non-Fund based

ICRA A4+

38

Reaffirmed Ltd Datamatics Global Services Ltd

ST FB/Non-FBL

ICRA A1

750

Assigned Den Networks (NS: DENN ) Ltd

Non-fund Based

ICRA A1+

150

Working Capital Fac Upgraded to ICRA A1+ from ICRA A1%; removed from watch with positive implications Green Gas Ltd

ST Non-Fund Based

ICRA A1+

2400

Reaffirmed Indian Railway Finance

ST borrowing programmeICRA A1+

150000 Reaffirmed Corporation Ltd Kanan Devan Hills Plantations

Fund based –

ICRA A2+

Reaffirmed Company Pvt Ltd

Interchangeable

sub-limits Kantilal Chhotalal

FB - Working Capital ICRA A2

375

Reaffirmed

Fac Reliance Nippon Life Asset

Reliance ST Fund

ICRA A1+mfs

Reaffirmed Management Ltd Reliance Nippon Life Asset

Reliance Interval

ICRA A1+mfs

Reaffirmed Management Ltd

Fund – Monthly

Interval Fund – Series I Reliance Nippon Life Asset

Reliance Interval

ICRA A1+mfs

Reaffirmed Management Ltd

Fund – Monthly

Interval Fund – Series II Reliance Nippon Life Asset

Reliance Interval

ICRA A1+mfs

Reaffirmed Management Ltd

Fund - Quarterly

Interval Fund - Series II Reliance Nippon Life Asset

Reliance Dynamic Bond ICRA A1+mfs@

Reaffirmed Management Ltd

Fund @Under rating Watch with Negative Implications Reliance Nippon Life Asset

Reliance Banking &

ICRA A1mfs@

Reaffirmed Management Ltd

PSU Debt Fund @Under rating Watch with Negative Implications Sterling Generators Pvt Ltd

ST – Fund Based

ICRA A3

Reaffirmed Sterling Generators Pvt Ltd

ST – Fund Based

ICRA A3

Reaffirmed Suguna Foods Pvt Ltd

ST - Non-FB Fac

ICRA A2+

180

Outstanding Ttk Healthcare Ltd

ST: Non-FB Fac

ICRA A1+

77.5

Reaffirmed Ttk Healthcare Ltd

ST: Proposed Fac

ICRA A1+

2.5

Reaffirmed Ttk Healthcare Ltd

ST: FB Fac

ICRA A1+

Reaffirmed

interchangeable (Sub

limits) LONG TERM RATINGS: ------------------- Bhadra International (India)

FB - TL

ICRA D

3045.3 Reaffirmed Pvt Ltd Bhadra International (India)

LT - Fund Based/ CC ICRA D

300

Reaffirmed Pvt Ltd Crystal Granite And Marble Pvt

LT – Fund based - TL ICRA BB

0.5

Reaffirmed Ltd Den Networks Ltd

FB TL

ICRA AA-

3938.5 Upgraded to ICRA AA- (Stable) from ICRA A%; removed from watch with positive implications and Stable outlook assigned Den Networks Ltd

FB Working Capital FacICRA AA-

1050 Upgraded to ICRA AA- (Stable) from ICRA A%; removed from watch with positive implications and Stable outlook assigned Den Networks Ltd

Unallocated Limits

ICRA AA-

1353.5

/A1+ Upgraded to ICRA AA-(Stable) from ICRA A%/ Upgraded to ICRA A1+ from ICRA A1%; removed from watch with positive implications and Stable outlook assigned Gmr Ose Hungund Hospet

FB -TL

ICRA B+

10287.1 Highways Pvt Ltd Upgraded from ICRA D Gopalan Enterprises

LT - TL

ICRA BBB+

316.5 Reaffirmed Gopalan Enterprises

LT – Overdraft

ICRA BBB+

2000

Reaffirmed Gopalan Enterprises

LT - unallocated

ICRA BBB+

133.5 Reaffirmed Gopalan Enterprises (India)

LT - TL

ICRA BBB+

4023.2 Reaffirmed Pvt. Ltd Gopalan Enterprises (India)

LT - unallocated

ICRA BBB+

2476.8 Reaffirmed Pvt. Ltd Gopalan Foundation

LT - TL

ICRA BBB+

130

Reaffirmed Green Gas Ltd

Proposed TL

ICRA AA

5000 Rating upgraded to ICRA AA from ICRA AA- Indian Railway Finance

LT borrowing

ICRA AAA

554710 Assigned Corporation Ltd

programme FY2020 Indian Railway Finance

Previous years' LT

ICRA AAA

1154730 Reaffirmed Corporation Ltd

borrowing programmes Joyalukkas Retail Pvt Ltd

LT – TL

ICRA BBB

80

Reaffirmed Joyalukkas Retail Pvt Ltd

LT – Fund based CC

ICRA BBB

250

Reaffirmed Joyalukkas Retail Pvt Ltd

LT – Unallocated

ICRA BBB

120

Reaffirmed Kanan Devan Hills Plantations

Fund based- Working ICRA A-

930

Reaffirmed Company Pvt Ltd

Capital Fac outlook revised to Negative from Stable Kanan Devan Hills Plantations

Fund based – TL

ICRA A-

150

Reaffirmed Company Pvt Ltd outlook revised to Negative from Stable Kanan Devan Hills Plantations

Fund based –

ICRA A-

220

Reaffirmed Company Pvt Ltd

Unallocated limits outlook revised to Negative from Stable Northern Arc Capital Ltd- Akme

PLI programme

ICRA A- (SO)

Reaffirmed Fintrade (India) Ltd Northern Arc Capital Ltd- Aris

PLI programme

ICRA A- (SO)

Reaffirmed Capital Pvt Ltd Northern Arc Capital Ltd- Aye

PLI programme

ICRA A- (SO)

Reaffirmed Finance Pvt Ltd Northern Arc Capital Ltd- Aye

PLI programme

ICRA A- (SO)

Reaffirmed Finance Pvt Ltd Northern Arc Capital Ltd- Aye

PLI programme

ICRA A+ (SO)

Reaffirmed Finance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Capfloat Financial Services Pvt Ltd Northern Arc Capital Ltd- Ess

PLI programme

ICRA A- (SO)

Reaffirmed Kay Fincorp Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Essel Finance Business Loan Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Essel Finance Business Loans Ltd Northern Arc Capital Ltd- Fino

PLI programme

ICRA A- (SO)

Reaffirmed Finance Pvt Ltd Northern Arc Capital Ltd- Fino

PLI programme

ICRA A+ (SO)

Reaffirmed Finance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A+ (SO)

Reaffirmed Kogta Financial (India) Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Kogta Financial (India) Ltd Northern Arc Capital Ltd-

PTC Series A1

ICRA A-(SO) 297.5 Northern Arc 2019 Mosec Mirage Provisional rating confirmed as final Northern Arc Capital Ltd-

PTC Series A2

ICRA

13.6 Northern Arc 2019 Mosec Mirage

BBB-(SO) Provisional rating confirmed as final Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Pahal Financial Services Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A+ (SO)

Reaffirmed Pahal Financial Services Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A+ (SO)

Reaffirmed S.M.I.L.E. Microfinance Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A+ (SO)

Reaffirmed Saija Finance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Samunnati Financial Intermediation & Services Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Satya Microcapital Ltd Northern Arc Capital Ltd- Shri

PLI programme

ICRA A- (SO)

Reaffirmed Ram Finance Corporation Pvt Ltd Northern Arc Capital Ltd- Shri

PLI programme

ICRA A- (SO)

Reaffirmed Ram Finance Corporation Pvt Ltd Northern Arc Capital Ltd- Shri

PLI programme

ICRA A+ (SO)

Reaffirmed Ram Finance Corporation Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A+ (SO)

Reaffirmed Svasti Microfinance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Svasti Microfinance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Visage Holdings And Finance Pvt Ltd Northern Arc Capital Ltd-

PLI programme

ICRA A- (SO)

Reaffirmed Western India Transport Finance Company Pvt Ltd Orange Jaisalmer Wind Energy

TL

ICRA A-

1236

Reaffirmed Pvt Ltd Orange Jaisalmer Wind Energy

CC

ICRA A-

72

Reaffirmed Pvt Ltd Orange Jaisalmer Wind Energy

Unallocated

ICRA A-

142

Reaffirmed Pvt Ltd Reliance Nippon Life Asset

Reliance Low Duration ICRA A+mfs@ Management Ltd

Fund downgraded from ICRA AAAmfs and placed on rating watch with negative implications Reliance Nippon Life Asset

Reliance Prime Debt ICRA AA+mfs@

Reaffirmed Management Ltd

Fund @Under rating Watch with Negative Implications Reliance Nippon Life Asset

Reliance Gilt

ICRA AAAmfs

Assigned Management Ltd

Securities Fund Reliance Nippon Life Asset

Reliance Ultra Short ICRA AAAmfs

Reaffirmed Management Ltd

Duration Fund Reliance Nippon Life Asset

Reliance Floating

ICRA AAAmfs

Reaffirmed Management Ltd

Rate Fund Reliance Nippon Life Asset

Reliance Income Fund ICRA AAAmfs

Reaffirmed Management Ltd Reliance Nippon Life Asset

Reliance Liquid Fund ICRA AAAmfs

Reaffirmed Management Ltd Reliance Nippon Life Asset

Reliance Money Market ICRA AAAmfs

Reaffirmed Management Ltd

Fund Reliance Nippon Life Asset

Reliance Interval

ICRA AAAmfs

Reaffirmed Management Ltd

Fund – Quarterly

Interval Fund – Series III Reliance Nippon Life Asset

Reliance Overnight

ICRA AA-mfs@

Reaffirmed Management Ltd

Fund @Under rating Watch with Negative Implications Reliance Nippon Life Asset

Reliance Strategic

ICRA Amfs@ Management Ltd

Debt Fund downgraded from ICRA A+mfs@; continues to remain on rating watch with negative implications Shirpur-Warvade Municipal

TL

ICRA BB+

76.8

Reaffirmed Council Spandana Sphoorty Financial

PTC Series A

ICRA AA(SO)

Upgraded Ltd- Abhilasha 08 2018

from ICRA

A+(SO Spandana Sphoorty Financial

PTC Series A1

ICRA AA(SO)

Upgraded Ltd- Chetana 03 2018

From ICRA

A+(SO) Spandana Sphoorty Financial

PTC Series A1

ICRA AA(SO)

Upgraded Ltd- Kartikeya 03 2018

From ICRA

A+(SO) Spandana Sphoorty Financial

PTC Series A

ICRA A+(SO)

Reaffirmed Ltd- Keerthana 01 2019 Spandana Sphoorty Financial

PTC Series A1

ICRA A(SO)

Reaffirmed Ltd- Northern Arc 2018 Mfi Sartre Spandana Sphoorty Financial

PTC Series A2

ICRA BBB+

Reaffirmed Ltd- Northern Arc 2018 Mfi

(SO) Sartre Spandana Sphoorty Financial

PTC Series A

ICRA AA-(SO)

Upgraded Ltd- Pragathi 05 2018

from ICRA

AA-(SO) Spandana Sphoorty Financial

PTC Series A

ICRA AA-(SO)

Reaffirmed Ltd- Pragathi 11 2018 Spandana Sphoorty Financial

PTC Series A

ICRA A+(SO)

Reaffirmed Ltd- Siri 03 2019 Spandana Sphoorty Financial

PTC Series A2

ICRA AA-(SO)

Upgraded Ltd- Syamantaka Ifmr Capital

from ICRA 2017

BBB+(SO) Spandana Sphoorty Financial

PTC Series A1

ICRA AAA(SO)

Upgraded Ltd- Syamantaka Ifmr Capital

from ICRA 2017

A+(SO) Spandana Sphoorty Financial

PTC Series A2

ICRA A+(SO)

Upgraded Ltd- Vivriti Cavalieri 06 2018

from ICRA

A-(SO Spandana Sphoorty Financial

PTC Series A1

ICRA AA-(SO)

Upgraded Ltd- Vivriti Cavalieri 06 2018

from ICRA

A(SO) Spandana Sphoorty Financial

PTC Series A1

ICRA A(SO)

Reaffirmed Ltd- Vivriti Zephyr 03 2019 Spandana Sphoorty Financial

PTC Series A2

ICRA A-(SO)

Reaffirmed Ltd- Vivriti Zephyr 03 2019 Sterling & Wilson Energy

LT/ST Non-fund Based ICRA BBB-

70

Reaffirmed Systems Pvt Ltd

/A3 Outlook revised from Stable to Negative Sterling & Wilson Powergen Pvt

LT – Fund Based/CC

ICRA BBB

50

Reaffirmed Ltd Outlook revised from Stable to Negative Sterling & Wilson Powergen Pvt

LT – TL

ICRA BBB-

250

Reaffirmed Ltd Outlook revised from Stable to Negative Sterling & Wilson Powergen Pvt

LT/ST – Non-fund BasedICRA BBB-

1025

Reaffirmed Ltd

/A3 Outlook revised from Stable to Negative Sterling Generators Pvt Ltd

LT – Fund based/CC

ICRA BBB-

Reaffirmed Outlook revised from Stable to Negative Sterling Generators Pvt Ltd

LT/ST Non-fund Based ICRA BBB-

Reaffirmed

/A3 Outlook revised from Stable to Negative Sterling Generators Pvt Ltd

LT/ST Non-fund Based ICRA BBB-

Reaffirmed

/A3 Outlook revised from Stable to Negative Suguna Foods Pvt Ltd

LT-TL Fac

ICRA A-

2700.2 Outstanding Suguna Foods Pvt Ltd

LT - FB Fac

ICRA A-

8850

Outstanding Suguna Foods Pvt Ltd

LT/ST - Proposed Fac ICRA A- /A2+ 1226.5 Outstanding TTK Healthcare Ltd

LT: FB Fac

ICRA A+

325

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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