ICRA ratings for Indian debt instruments-Oct 26

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ICRA ratings for Indian debt instruments-Oct 26
Credit: © Reuters.

Oct 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS: ICRA )) for local debt instruments as of October 25, 2018. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

-----

--------- SHORT TERM RATINGS: ------------------- A. S. Steel Traders(Vsp) Pvt

Non-fund bases limits ICRA A4

150

- Ltd Issuer delayed in giving information Akhandalamani Electricals &

Non-Fund based – LOC ICRA A4+

20

- Construction Rating continues to remain under ‘(Issuer Not Cooperating) ' category Concrete Udyog Ltd

Non-fund Based

ICRA A4+

130

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Deccan Tobacco Company

Fund Based – Packing ICRA A2

1000

-

Credit Review process is underway Deepak (NS: DPFE ) Fertilisers &

CP

ICRA A1+

10000 outstanding Petrochemicals Corporation Ltd Deepak Fertilisers &

Non-FBL Rated Amount ICRA A1+

12000 outstanding Petrochemicals Corporation Ltd

(Rs. cr) Delhi Airport Parking Services

NFBL

ICRA A1+

50

Assigned Pvt Ltd Den Networks (NS: DENN ) Ltd

Non-fund Based

ICRA A1

150

-

Working Capital Fac placed on Watch with Positive Implications Derewala Industries Ltd

ST FBL

ICRA A3

330

- Review process is underway; it is expected to be concluded soon after receiving the required information from the client Derewala Industries Ltd

ST Non-FBL

ICRA A3

1535

- Review process is underway; it is expected to be concluded soon after receiving the required information from the client Gouttephone Technology Pvt Ltd

ST Loan

ICRA D

85

Reassigned

from ICRA

A2+(SO) Jay Shree Tea & Industries Ltd

Non-FBL

ICRA A2

451.8 Reaffirmed Kongovi Pvt Ltd

ST – Non-fund based -

-

- Kongovi Pvt Ltd

ST – Interchangeable ICRA A2+

-

Upgraded

from ICRA A2 Lucky Steel Industries (Ship

ST non FB

ICRA A4

741.5 - Breaking Division) (Issuer Not Cooperating) Magnam Netlink Pvt. Ltd.

Non FB – BG

ICRA A4

270

Revised from

ICRA A4+ Magnam Netlink Pvt. Ltd.

Non fund based LOC

ICRA A4

-

Revised from

ICRA A4+ Magnam Netlink Pvt. Ltd.

Non fund based

ICRA A4

-

Revised from

Credit Exposure Limits

ICRA A4+ Mold-Tek Packaging Ltd

ST, Non-FBL

ICRA A1

10

outstanding Navneeta Steels Pvt Ltd

NFBL

ICRA A4

60

Reaffirmed Noble Natural Resources India

ST FB Limits

ICRA A1+ (S) 2700

Withdrawn Pvt Ltd on watch with developing implications North India Surgical Company

NFB

ICRA A4

10

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Power Mech Infra Ltd

Non-FBL

ICRA A3

200

Reaffirmed Shivam Motors Pvt Ltd

FB

ICRA A4

30

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Shreenathji Cotgin Pvt Ltd

ST non FB

ICRA A4

1

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Sogefi - Mnr Engine Systems

ST –Fund based

ICRA A1+

300

upgraded India Pvt Ltd

from ICRA A1 Sogefi - Mnr Engine Systems

ST –Interchangeable ICRA A1+

-

upgraded India Pvt Ltd

(LC)^

from ICRA A1 Srinivasa Edifice Pvt Ltd

Non-fund bases limits ICRA A4+

300

- Issuer delayed in giving information Tata Global Beverages (NS: TAGL ) Ltd

Non-FBL

ICRA A1+

240

Reaffirmed Tata Global Beverages Ltd

ST debt

ICRA A1+

7150

Reaffirmed (including Commercial 715 Paper)** Tata Sons Pvt Ltd (Erstwhile

CP Programme

ICRA A1+

135000 Reaffirmed Tata Sons Ltd) Umsl Ltd (Erstwhile Utkal

ST- Non-FBL ST-

ICRA A2+

-

Reaffirmed - Manufacturing & Services Ltd)

Unallocated limits Y. S. Investments

ST non FB

ICRA A4

869

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category A. S. Steel Traders(Vsp) Pvt

Fund bases limits

ICRA BB-

350

- Ltd Issuer delayed in giving information LONG TERM RATINGS: ------------------- Akal Pipe Industries

LT - Fund Based/ CC ICRA D

25

- (Issuer Not Cooperating) Akal Pipe Industries

LT - Fund Based TL

ICRA D

69

- (Issuer Not Cooperating) Akhandalamani Electricals &

Fund based – CC

ICRA BB

130

- Construction Rating continues to remain under ‘(Issuer Not Cooperating) ' category Akhandalamani Electricals &

Non-Fund based – BG ICRA BB

160

- Construction Rating continues to remain under ‘(Issuer Not Cooperating) ' category Ankit Pulps And Boards Pvt Ltd

LT FB CC

ICRA BB+

82.5

Reaffirmed Ankit Pulps And Boards Pvt Ltd

LT FB TL

ICRA BB+

17.5

Reaffirmed Ankit Pulps And Boards Pvt Ltd

LT Non-fund Based

ICRA BB+

-

Reaffirmed

(Interchangeable –

sublimit of CC) Ascent Hotels Pvt Ltd

FB – TL

ICRA BBB-

1400

- Review process is underway Ascent Hotels Pvt Ltd

FB – Bullet Loans

ICRA BBB-

800

- Review process is underway Baba Bhuman Shah Ji Rice Mills

Fund Based- Working ICRA B

170

-

Capital Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Baba Bhuman Shah Ji Rice Mills

FB TL

ICRA B

30

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Balbir Alloys Pvt Ltd

Bk loans

ICRA B+ /

219.9 -

ICRA A4 (Issuer Not Cooperating) Burakia Steel & Alloys

Fund based – TL

ICRA B+

28 Rating continues to remain under ‘(Issuer Not Cooperating) ' category Burakia Steel & Alloys

Fund based – Working ICRA B+

15

Capital TL Rating continues to remain under ‘(Issuer Not Cooperating) ' category Burakia Steel & Alloys

Fund based – Open CC ICRA B+

50 Rating continues to remain under ‘(Issuer Not Cooperating) ' category Cae Simulation Training Pvt Ltd

TL

ICRA A

1043.1 Reaffirmed Concrete Udyog Ltd

Fund Based- Working ICRA BB+

120

-

Capital Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Concrete Udyog Ltd

Fund Based- TL

ICRA BB+

50

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Deepak Fertilisers &

NCD

ICRA AA-

5000

Assigned Petrochemicals Corporation Ltd Deepak Fertilisers &

TL

ICRA AA-

4310

outstanding Petrochemicals Corporation Ltd Deepak Fertilisers &

CC

ICRA AA-

9750

outstanding Petrochemicals Corporation Ltd Delhi Airport Parking Services

Fund based- TL

ICRA A+

1100

Reaffirmed Pvt Ltd outlook revised to Positive from Stable Den Networks Ltd

FB TL

ICRA A

5256.2 - placed on Watch with Positive Implications Den Networks Ltd

FB Working Capital FacICRA A

1050

- placed on Watch with Positive Implications Den Networks Ltd

Unallocated Limits

ICRA A1 /

35.8

-

ICRA A placed on Watch with Positive Implications Derewala Industries Ltd

LT FBL

ICRA BBB-

145

- Review process is underway; it is expected to be concluded soon after receiving the required information from the client Derewala Industries Ltd

Unallocated

ICRA BBB-

100

- Review process is underway; it is expected to be concluded soon after receiving the required information from the client Derewala Industries Ltd

LT/ST Interchangeable ICRA BBB- / -

-

(Sublimits of FBL)

ICRA A3 Review process is underway; it is expected to be concluded soon after receiving the required information from the client Goverdhan Verma Punjab

LT - Fund Based/ CC ICRA B+

62

- Jewellers Pvt Ltd Continues to remain under the ‘(Issuer Not Cooperating) ' category Jay Shree Tea & Industries Ltd

TL

ICRA BBB+

1318.8 Reaffirmed Jay Shree Tea & Industries Ltd

FB limits

ICRA BBB+

2115

Reaffirmed

/ ICRA A2 Karnataka Water And Sanitation

TL

ICRA AA-

2323.3 Reaffirmed Pooled Fund

(SO) Karnataka Water And Sanitation

TL

ICRA AA-

-

Reaffirmed Pooled Fund

(SO) Karnataka Water And Sanitation

Bond Programme

ICRA AA+

166.7 Reaffirmed Pooled Fund

(SO) Kaushalya Roller Flour Mills

LT FB - CC

ICRA BB-

140

Assigned Pvt Ltd Kaushalya Roller Flour Mills

LT / ST - Unallocated ICRA BB- / 25

Assigned Pvt Ltd

ICRA A4 Kongovi Pvt Ltd

LT – Unallocated

-

-

- Kongovi Pvt Ltd

LT – Fund Based (TL) ICRA BBB+

510

Reaffirmed Kongovi Pvt Ltd

LT – Fund Based (CC) ICRA BBB+

200

Reaffirmed Lucky Steel Industries (Ship

LT fundbased

ICRA B+

100

- Breaking Division) (Issuer Not Cooperating) Lypsa Gems And Jewellery Ltd

LT/ST FB/Non-fundbasedICRA D /

500

-

ICRA D Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Magnam Netlink Pvt. Ltd.

FB – CC

ICRA BB-

30

Revised from

ICRA BB outlook revised to Stable from Negative Mazda Ltd

FB – CC

ICRA A

-

Reaffirmed ^includes sublimit of Rs. 4.00 crore EPC/PCFC and Rs. 2.00 crore FBD/EBR Mazda Ltd

Non-FB Fac

ICRA A /

183.8 Reaffirmed

ICRA A1 Mazda Ltd

Unallocated

ICRA A

20

Reaffirmed

/ICRA A1 Mold-Tek Packaging Ltd

LT, Fund based

ICRA A

800

outstanding Mold-Tek Packaging Ltd

LT/ST, Unallocated

ICRA A

160

outstanding

Limits

/ICRA A1 Navneeta Steels Pvt Ltd

FBL

ICRA BB-

400

Reaffirmed Noble Natural Resources India

LT/ ST FB Limits

ICRA AA-(S) 750

Withdrawn Pvt Ltd

/ ICRA

A1+(S) on watch with developing implications North India Surgical Company

Fund Based- Working ICRA B

110

-

Capital Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Power Mech Infra Ltd

FBL

ICRA BBB-

30

Reaffirmed outlook revised to positive from stable Power Mech Infra Ltd

Unallocated Limits

ICRA BBB-

400

Reaffirmed outlook revised to positive from stable Radhee Foods Pvt Ltd

LT FB - CC

ICRA BB-

130

Assigned Rani Sati Roller Flour Mills

LT FB CC

ICRA BB-

130

Assigned Pvt Ltd Rani Sati Roller Flour Mills

LT / ST - Unallocated ICRA

25

Assigned Pvt Ltd

BB-/ICRA A4 Ranisati Foods Pvt Ltd

LT FB CC

ICRA BB-

120

Assigned Ranisati Foods Pvt Ltd

LT FB TL

ICRA BB-

2.8

Assigned Ranisati Foods Pvt Ltd

LT / ST - Unallocated ICRA BB- / 28.7

Assigned

ICRA A4 Seven Sky Entertainment Pvt.

FB – TL

ICRA BB

150

Assigned Ltd. Shakti Polytex Pvt Ltd

Fund Based- Working ICRA D

180

-

Capital Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Shakti Polytex Pvt Ltd

Fund Based- TL

ICRA D

58.5

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Shakti Polytex Pvt Ltd

Unallocated

ICRA D

31.5

- Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Sheeltron Digital Systems Pvt

LT TL

ICRA BB

25

- Ltd Issuer delayed in giving information Sheeltron Digital Systems Pvt

LT CC

ICRA BB

48

- Ltd Issuer delayed in giving information Shitaram Industries

LT fundbased

ICRA B-

53.3

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Shivam Motors Pvt Ltd

Fund Based- Working ICRA BB-

530

-

Capital Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Shivam Motors Pvt Ltd

Unallocated

ICRA BB-

220

-

/A4 Rating continues to remain in the ‘(Issuer Not Cooperating) ' category Shreenathji Cotgin Pvt Ltd

LT fundbased

ICRA B-

80

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Shreenathji Cotgin Pvt Ltd

Unallocated limits

ICRA B-

15.7

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Sogefi - Mnr Engine Systems

LT –unallocated

-

-

- India Pvt Ltd Sogefi - Mnr Engine Systems

LT– Interchangeable ICRA A+

-

Upgraded India Pvt Ltd

(CC)^

from ICRA A outlook revised to Stable from Positive - ^interchangeable with short-term fund-based facilities Sri Durga Enterprises

Fund bases limits

ICRA B+

250

- Issuer delayed in giving information Srinivasa Edifice Pvt Ltd

Fund bases limits

ICRA BB+

140

- Issuer delayed in giving information Srinivasa Edifice Pvt Ltd

Unallocated Limits

ICRA BB+/

460

-

ICRA A4+ Issuer delayed in giving information Sun Hospitality & Service

FBL TL

ICRA D

130

- Apartments Pvt Ltd Rating continues to remain under ‘(Issuer Not Cooperating) ' category Tata Global Beverages Ltd

LT debt (including

ICRA AA+

3500

Reaffirmed

NCD) Tata Global Beverages Ltd

FB working capital

ICRA AA+ / 4000

Reaffirmed

limits#

ICRA A1+ #Long-term fund-based limits can also be utilised as short-term fund based limits, wherein the short-term rating of ICRA A1+ would be applicable; ** Total borrowing under CP and fund-based facilities from banks to remain within an overall limit of Rs. 715 crore Tata Sons Pvt Ltd (Erstwhile

NCD Programme

ICRA AAA

270100 Reaffirmed Tata Sons Ltd) Tbpr Infra Projects Pvt Ltd

Bk loan Ratings

ICRA B-

340

- (Issuer Not Cooperating) Tcs And Associates Pvt Ltd

LT - Fund Based/ CC ICRA BB-

392.9 - Continues to remain under the ‘(Issuer Not Cooperating) ' category Tcs And Associates Pvt Ltd

LT - Fund Based TL

ICRA BB-

7.1

- Continues to remain under the ‘(Issuer Not Cooperating) ' category Transasia Bio-Medicals Ltd

LT / ST, FB / Non-FBL ICRA AA- / 1320

ICRA A1+ Umsl Ltd (Erstwhile Utkal

LT- FB- Working

ICRA A-

1200

Reaffirmed Manufacturing & Services Ltd)

Capital Fac Umsl Ltd (Erstwhile Utkal

LT- Non-FBL

ICRA A-

400

Reaffirmed Manufacturing & Services Ltd) Vinayak Cottex

LT fundbased

ICRA B

76.7

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Y. S. Investments

LT fundbased

ICRA B+

100

- Rating continues to remain under ‘(Issuer Not Cooperating) ' category Zaveri Exports Pvt Ltd

Bk loan Ratings

ICRA B-

130

- (Issuer Not Cooperating) Zeta Industrial Corporation

FBL

ICRA B-

25

Revised from Pvt Ltd

ICRA B+ (Issuer Not Cooperating) Zeta Industrial Corporation

NFBL

ICRA B-

45

Revised from Pvt Ltd

ICRA B+ (Issuer Not Cooperating) Zeta Industrial Corporation

Unallocated

ICRA B-

30

Revised from Pvt Ltd

ICRA B+ (Issuer Not Cooperating) -------------------------------------------------------------------------------------------- $: 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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