ICRA ratings for Indian debt instruments-Jun 26

Published 26-06-2019, 05:24 pm
© Reuters.  ICRA ratings for Indian debt instruments-Jun 26

Jun 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS:ICRA)) for local debt instruments as of June 25, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

-----

--------- SHORT TERM RATINGS: ------------------- A.R. Dairy Food Pvt Ltd

ST - Fund Based

ICRA A4+

10

- Rating continues to remain under ‘Issuer Not Cooperating' category A.R. Dairy Food Pvt Ltd

ST - Non-Fund Based ICRA A4+

11

- Rating continues to remain under ‘Issuer Not Cooperating' category Bright Brothers Ltd

ST: FB – Bill

ICRA A4+

300

Assigned

discounting Ecap Equities Ltd

CP Programme

ICRA A1+

12500 Reaffirmed Ecap Equities Ltd

ST NCD programme

ICRA A1+

1500

Reaffirmed Ecap Equities Ltd

ST Principle

PP-MLD ICRA 1500

Reaffirmed

Protected Market

A1+

Linked Debenture Programme ECL Finance Ltd

CP Programme (IPO

ICRA A1+

100000 Reaffirmed

financing) ECL Finance Ltd

CP Programme

ICRA A1+

50000 Reaffirmed ECL Finance Ltd

ST NCD Programme

ICRA A1+

5000

Reaffirmed ECL Finance Ltd

ST Principal

PP-MLDICRA 9000

Reaffirmed

Protected Market

A1+

Linked Debenture Programme Edel Finance Co. Ltd

CP Programme

ICRA A1+

10000 Reaffirmed Edelweiss Agri Value Chain Ltd

CP Programme

ICRA A1+

10000 Reaffirmed Edelweiss Asset Reconstruction

CP Programme

ICRA A1+

20000 Reaffirmed Co. Ltd Edelweiss Finance &

CP

ICRA A1+

10000 Reaffirmed Investments Ltd Edelweiss Finance &

ST Principal

PP-MLDICRA 4000

Reaffirmed Investments Ltd

Protected Market

A1+

Linked Debenture Programme Edelweiss Financial (NS:EDEL) Services

CP Programme

ICRA A1+

63500 Withdrawn Ltd Edelweiss Financial Services

ST Non-convertible

ICRA A1+

1000

Withdrawn Ltd

Debenture Edelweiss Finvest Pvt Ltd

ST NCD Programme

ICRA A1+

2000

Reaffirmed Edelweiss Finvest Pvt Ltd

CP Programme

ICRA A1+

10000 Reaffirmed Edelweiss Finvest Pvt Ltd

ST Principal

PP-MLDICRA 1500

Reaffirmed

Protected Market

A1+

Linked Debenture Programme Edelweiss Housing Finance Ltd

CP Programme

ICRA A1+

10000 Reaffirmed Edelweiss Retail Finance Ltd

CP Programme

ICRA A1+

5000

Reaffirmed Edelweiss Retail Finance Ltd

ST NCD Programme

ICRA A1+

1000

Reaffirmed Edelweiss Rural & Corporate

ST NCD Programme

ICRA A1+

5000

Reaffirmed Services Ltd Edelweiss Rural & Corporate

CP Programme

ICRA A1+

85000 Reaffirmed Services Ltd Edelweiss Rural & Corporate

CP Programme (IPO

ICRA A1+

80000 Reaffirmed Services Ltd

financing) Edelweiss Rural & Corporate

ST NCD Programme

ICRA A1+

635

Reaffirmed Services Ltd Edelweiss Rural & Corporate

ST Principal

PP-MLD ICRA 3000

Reaffirmed Services Ltd

Protected Market

A1+

Linked Debenture Programme Edelweiss Securities Ltd

CP Programme LT

ICRA A1+

10000 Reaffirmed

Market Linked

Debenture programme Piramal Capital & Housing

CP (CP) programme

ICRA A1+

90000 Reaffirmed Finance Ltd Piramal Enterprises (NS:PIRA) Ltd

CP

ICRA A1+

90000 Outstanding Piramal Enterprises Ltd

ST Non-Fund Based

ICRA A1+

2000

Outstanding Piramal Enterprises Ltd

ST Fund based

ICRA A1+

21200 Outstanding Pm Granite Exports Pvt Ltd

ST - Fund Based

ICRA A4

50

- Rating continues to remain under ‘Issuer Not Cooperating' category Pricol Ltd

ST non-fund based

ICRA A4+&

210

Revised from

ICRA A3+ Pricol Ltd

ST non-fund based

ICRA A4+&

-

Revised from

(sublimit)

ICRA A3+ Sangeetha Mobiles Pvt Ltd

Fund based- ST

ICRA A2

140

Reaffirmed Sangeetha Mobiles Pvt Ltd

Fund Based/Non-Fund ICRA A2

500

Reaffirmed

Based ST Sangeetha Mobiles Pvt Ltd

Non-fund Based- ST

ICRA A2

450

Reaffirmed Susee Motors (India) Pvt Ltd

ST - Non-Fund Based ICRA A4

30

- Rating continues to remain under ‘Issuer Not Cooperating' category Svarn Infratel Pvt Ltd

ST: Non-fund Based

ICRA A3+

320

Upgraded

From ICRA A3 Veer O Metals Pvt Ltd

ST: Non-Fund based

ICRA A2

216.5 Assigned VITromed Healthcare

Non-fund Based/BG

ICRA A3

40

Reaffirmed MEDIUM TERM RATINGS: ------------------- Bright Brothers Ltd

Medium-term: Fixed

MB+

18.6

placed on

deposit programme

notice of

withdrawal

for six

months LONG TERM RATINGS: ------------------- A.R. Dairy Food Pvt Ltd

LT - Fund Based/ CC ICRA BB+

140

- Rating continues to remain under ‘Issuer Not Cooperating' category A.R. Dairy Food Pvt Ltd

LT - Fund Based TL

ICRA BB+

85.3

- Rating continues to remain under ‘Issuer Not Cooperating' category A.R. Dairy Food Pvt Ltd

LT - Unallocated

ICRA BB+

32.2

- Rating continues to remain under ‘Issuer Not Cooperating' category Ayushman Merchants Pvt Ltd

Bk loan ratings Name ICRA

300

-

of the rated entity BB-/ICRA A4 Bharatiyam Foods And Beverages

LT Fund based - TL

ICRA BB

500

Withdrawn Pvt. Ltd Bharatiyam Foods And Beverages

LT Fund based - CC

ICRA BB

40

Withdrawn Pvt. Ltd Bright Brothers Ltd

LT: FB – TL

ICRA BB

89.7

Assigned Bright Brothers Ltd

Issuer rating

ICRA BB

-

placed on

notice of

withdrawal

for six

months Ecap Equities Ltd

NCD programme

ICRA AA-

7500

downgraded

from ICRA AA Ecap Equities Ltd

LT Market Linked

PP-MLD ICRA 10000 downgraded

Debenture programme AA-

from

PP-MLDICRA AA Ecap Equities Ltd

LT Market Linked

PP-MLDICRA 18400.4 downgraded

Debenture programme AA-

from

PP-MLDICRA AA ECL Finance Ltd

Retail NCD Programme ICRA AA-

20000 Downgraded

from ICRA AA ECL Finance Ltd

Retail NCD Programme ICRA AA-

40000 Downgraded

from ICRA AA ECL Finance Ltd

NCD Programme

ICRA AA-

61362.5 Downgraded

from ICRA AA ECL Finance Ltd

Subordinated Debt

ICRA AA-

11500 Downgraded

Programme

from ICRA AA ECL Finance Ltd

Bk Lines

ICRA AA-

180000 Downgraded

from ICRA

AA/ ICRA A1+ ECL Finance Ltd

LT Principal

PP-MLDICRA 3000

Downgraded

Protected Market

AA-

from

Linked Debenture Programme

ICRA AA ECL Finance Ltd

LT Principal

PP-MLDICRA 21116.3 Downgraded

Protected Market

AA-

from

Linked Debenture Programme

PPMLDICRA AA Edel Finance Co. Ltd

NCD programme

ICRA AA-

7500

downgraded

from ICRA AA Edel Finance Co. Ltd

LT Market Linked

PP-MLDICRA 10000 downgraded

Debenture

AA-

from

PP-MLDICRA AA Edelweiss Agri Value Chain Ltd

NCD Programme

ICRA AA-

10000 Downgraded

from ICRA AA Edelweiss Agri Value Chain Ltd

NCD Programme

ICRA AA-

5000

Downgraded

from ICRA AA Edelweiss Agri Value Chain Ltd

Bk Lines ICRA AA-;

ICRA AA-

5000

Downgraded

downgraded LT/ST

from ICRA AA Edelweiss Agri Value Chain Ltd

NCD Programme**

ICRA

5000

Downgraded

AA-(SO) **

from ICRA AA

(SO) ** The letters SO in parenthesis, suffixed to the rating symbol, stand for structured obligation. An SO rating is specific to the rated issue, its terms, and structure. SO ratings do not represent ICRA's opinion on the general credit quality of the issuers concerned. The SO rating for the NCDs is based on the strength of an unconditional, irrevocable and continuing guarantee by Edelweiss Financial Services Limited (EFSL; Guarantor). Edelweiss Asset Reconstruction

NCD Programme

ICRA A+

25000 Downgraded Co. Ltd

from ICRA AA- Edelweiss Asset Reconstruction

Bk Lines

ICRA A+

5000

Downgraded Co. Ltd

from ICRA AA- Edelweiss Asset Reconstruction

NCD Programme

ICRA

10500 Downgraded Co. Ltd

AA-(SO)**

from ICRA

AA(SO) ** The letters SO in parenthesis, suffixed to the rating symbol, stand for structured obligation. An SO rating is specific to the rated issue, its terms, and structure. SO ratings do not represent ICRA's opinion on the general credit quality of the issuers concerned. The SO rating for the non-convertible debentures (NCDs) and market linked debentures is based on the strength of an unconditional, irrevocable and continuing guarantee provided by Edelweiss Financial Services Limited (EFSL; guarantor) Edelweiss Asset Reconstruction

LT Principal

PP-MLD ICRA 5000

Downgraded Co. Ltd

Protected Market

AA- (SO) **

from PP-MLD

Linked Debenture Program

ICRA AA (SO) ** The letters SO in parenthesis, suffixed to the rating symbol, stand for structured obligation. An SO rating is specific to the rated issue, its terms, and structure. SO ratings do not represent ICRA's opinion on the general credit quality of the issuers concerned. The SO rating for the non-convertible debentures (NCDs) and market linked debentures is based on the strength of an unconditional, irrevocable and continuing guarantee provided by Edelweiss Financial Services Limited (EFSL; guarantor) Edelweiss Asset Reconstruction

LT Principal

PP-MLD ICRA 2500

Downgraded Co. Ltd

Protected Market

AA-(SO)**

from PP-MLD

Linked Debenture Programme

ICRA AA(SO) ** The letters SO in parenthesis, suffixed to the rating symbol, stand for structured obligation. An SO rating is specific to the rated issue, its terms, and structure. SO ratings do not represent ICRA's opinion on the general credit quality of the issuers concerned. The SO rating for the non-convertible debentures (NCDs) and market linked debentures is based on the strength of an unconditional, irrevocable and continuing guarantee provided by Edelweiss Financial Services Limited (EFSL; guarantor) Edelweiss Custodial Services

LT/ST Non-fund Based ICRA AA-

35000 downgraded Ltd

Bk Lines

from ICRA

AA/ICRA A1+,

Reaffirmed Edelweiss Finance &

NCD

ICRA AA-

11000 Downgraded Investments Ltd

from ICRA AA Edelweiss Finance &

Subordinated Debt

ICRA AA-

350

Downgraded Investments Ltd

from ICRA AA Edelweiss Finance &

Bk Lines

ICRA AA-

5000

Downgraded Investments Ltd

from ICRA AA Edelweiss Finance &

LT Principal

PP-MLDICRA 7000

Downgraded Investments Ltd

Protected Market

AA-

from

Linked Debenture

PPMLDICRA AA Edelweiss Financial Services

NCD 466.00

ICRA AA-

4660

downgraded Ltd

from ICRA AA

and withdrawn Edelweiss Finvest Pvt Ltd

NCD Programme

ICRA AA-

7000

Downgraded

from ICRA AA Edelweiss Finvest Pvt Ltd

Subordinated Debt

ICRA AA-

1000

Downgraded

Programme

from ICRA AA Edelweiss Finvest Pvt Ltd

Bk Lines

ICRA AA-

5000

Downgraded

from ICRA AA Edelweiss Finvest Pvt Ltd

LT Principal

PP-MLDICRA 8073.9 Downgraded

Protected Market

AA-

from

Linked Debenture Programme

PPMLDICRA AA Edelweiss Finvest Pvt Ltd

LT Principal

PP-MLDICRA 2000

Downgraded

Protected Market

AA-

from

Linked Debenture Programme (unsecured)

PPMLDICRA AA Edelweiss Housing Finance Ltd

NCD

ICRA AA-

10000 Downgraded

from ICRA AA Edelweiss Housing Finance Ltd

Bk Lines

ICRA AA-

40000 Downgraded

from ICRA AA Edelweiss Housing Finance Ltd

NCD Programme

ICRA AA-

9600

Downgraded

from ICRA AA Edelweiss Housing Finance Ltd

Subordinated Debt

ICRA AA-

3000

Downgraded

Programme

from ICRA AA Edelweiss Housing Finance Ltd

Retail NCD Programme ICRA AA-

5000

Downgraded

from ICRA AA Edelweiss Retail Finance Ltd

Bk Lines

ICRA AA-

20000 Downgraded

from ICRA AA Edelweiss Retail Finance Ltd

Retail NCD Programme ICRA AA-

5000

Downgraded

from ICRA AA Edelweiss Retail Finance Ltd

NCD Programme

ICRA AA-

12000 Downgraded

from ICRA AA Edelweiss Retail Finance Ltd

Subordinated Debt

ICRA AA-

4500

Downgraded

Programme

from ICRA AA Edelweiss Rural & Corporate

NCD Programme

ICRA AA-

30000 Downgraded Services Ltd

from ICRA AA Edelweiss Rural & Corporate

NCD Programme

ICRA AA-

51705 downgraded Services Ltd

from ICRA AA Edelweiss Rural & Corporate

Bk Lines

ICRA AA-

20000 downgraded Services Ltd

from ICRA AA ESE Warehousing Pvt Ltd

LT: Unallocated

Provisional 1500

Outstanding

ICRA BBB India Infoline Finance Ltd

Shining Metal Trust Provisional 2545.4 Assigned

2019

ICRA AAA(SO) Piramal Capital & Housing

NCDs

ICRA AA

65450 Downgraded Finance Ltd

from ICRA AA+ Piramal Capital & Housing

Subordinated

ICRA AA

15000 Downgraded Finance Ltd

(Tier-II) Bonds

from ICRA AA+ Piramal Capital & Housing

LT FB Limits

ICRA AA

28750 Downgraded Finance Ltd

from ICRA AA+ Piramal Capital & Housing

LT TL

ICRA AA

99470 Downgraded Finance Ltd

from ICRA AA+ Piramal Enterprises Ltd

LT - Fund Based TL

ICRA AA

24950 Outstanding Piramal Enterprises Ltd

LT- NCD/Debt

ICRA AA

141000 Outstanding Piramal Enterprises Ltd

LT/ST Fund Based

ICRA

3000

Outstanding

AA/ICRA A1+ Piramal Enterprises Ltd

LT Principal

PP-MLD ICRA 3300

Outstanding

Protected Market

AA

Linked Debentures Piramal Enterprises Ltd

LT Principal

Provisional 1700

Outstanding

Protected Market

PP-MLD ICRA

Linked Debentures

AA Pm Granite Exports Pvt Ltd

LT - Fund Based/CC

ICRA C+

7.5

- Rating continues to remain under ‘Issuer Not Cooperating' category Pm Granite Exports Pvt Ltd

LT - Fund Based TL

ICRA C+

17.2

- Rating continues to remain under ‘Issuer Not Cooperating' category Pm Granite Exports Pvt Ltd

LT / ST – Unallocated ICRA

29.3

-

C+/ICRA A4 Rating continues to remain under ‘Issuer Not Cooperating' category Pricol Ltd

TL

ICRA BB+&

1482.6 revised from

ICRA BBB Pricol Ltd

LT FB

ICRA BB+&

1450

revised from

ICRA BBB Pricol Ltd

LT unallocated

ICRA BB+&

7.4

revised from

ICRA BBB Ramapriya Solar Energy Pvt Ltd

LT - Fund Based TL

ICRA B

105

- Rating continues to remain under ‘Issuer Not Cooperating' category Sangeetha Mobiles Pvt Ltd

Fund Based-LT

ICRA BBB+

110

Reaffirmed Sangeetha Mobiles Pvt Ltd

Unallocated Limits

ICRA BBB+

100

Reaffirmed

/A2 Sangeetha Mobiles Pvt Ltd

Fund Based/Non-Fund ICRA BBB+

200

Reaffirmed

BasedLT/ST

/A2 Shiv Shakti Enterprise

LT – Fund Based TL

ICRA D

100

- Rating continues to remain under ‘Issuer Not Cooperating' category Sunwatt International Pvt Ltd

Bk loan Ratings

ICRA B+/A4 70

- Susee Motors (India) Pvt Ltd

LT - Fund Based /CC ICRA B

30

- Rating continues to remain under ‘Issuer Not Cooperating' category Svarn Infratel Pvt Ltd

LT: CC limits

ICRA BBB

400

Upgraded

from ICRA

BBB- Svarn Infratel Pvt Ltd

LT: TL

ICRA BBB

100

Upgraded

from ICRA

BBB- Svarn Infratel Pvt Ltd

Long / ST:

ICRA BBB / 10

Upgraded

Unallocated limits

ICRA A3+;

from ICRA

BBB- /ICRA A3 Tripura Natural Gas Co. Ltd

FB- TL

ICRA A-

110

Withdrawn Veer O Metals Pvt Ltd

LT: CC

ICRA BBB

470

Assigned Veer O Metals Pvt Ltd

TL

ICRA BBB

140

Outstanding VIT Trust

LT: Unallocated

ICRA A(S)

1824.8 Reaffirmed VIT Trust

LT: Fund based TL

ICRA A(S)

1175.2 Reaffirmed VITromed Healthcare

FB/CC

ICRA BBB-

42.5

Reaffirmed VITromed Healthcare

FB/TL

ICRA BBB-

30.8

Reaffirmed Walker Estate Llp

FB -TL

ICRA BB

450

Assigned -------------------------------------------------------------------------------------------- $: 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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