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63500 Withdrawn Ltd Edelweiss Financial Services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Withdrawn Ltd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.