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Below are the ratings awarded by Investment Information Credit Rating Agency Ltd.
(ICRA) for local debt instruments as of June 19, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Aequitas Exports Pvt Ltd ST - Fund Based ICRA A4 180 Assigned
Alliance Granimarmo Pvt Ltd ST- Fund Based ICRA D; 335 -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Alliance Granimarmo Pvt Ltd ST- Non Fund Based ICRA D; 20 -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Aequitas Exports Pvt Ltd ST – Unallocated ICRA A4 50 Assigned
Godrej Agrovet Ltd ST, Non-fund Based ICRA A1+ 200 Reaffirmed
Working Capital Fac
Godrej Agrovet Ltd CP Programme ICRA A1+ 6000 Reaffirmed
Godrej Agrovet Ltd ST, FB Working ICRA A1+ 6100 Reaffirmed
Capital Fac
Indutch Composites Technology ST Non-fund Based ICRA A3+ 270 Reaffirmed
Pvt. Ltd
Invenire Petrodyne Ltd ST Non-FBL ICRA A1 650 Reaffirmed
Itw Consulting Pvt Ltd ST – Unallocated ICRA A3; 150 Assigned
Kineco Ltd ST, Interchangeable ICRA A3 - Reaffirmed
limits
Mindarika Pvt Ltd ST FB Limits ICRA A1+ 150 Reaffirmed
Mindarika Pvt Ltd ST Non-FBL ICRA A1+ 80 Reaffirmed
Prestress Steel Llp (Erstwhile ST- Non Fund Based ICRA A4+; 225 -
Jonas Petro Products Pvt Ltd ST – BG ICRA D 0.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Electropath Services (India) ST - Non-Fund Based- ICRA D 287.3 -
Pvt Ltd Bank Guarantee
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Jonas Petro Products Pvt Ltd ST – Unallocated ICRA D 14.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Prestress Wire Industries)
(Rating Downgraded from ICRA A3 and Continues to remain under ‘Issuer Not Cooperating’ category)
Royal Exports ST Fund Based ICRA A4 I 180 -
(Rating downgraded from ICRA A4+ and continues to remain in the ‘Issuer Not Cooperating’
category)
Senthil Murugan Jewellers Pvt ST Interchangeable ICRA A4+ - Reaffirmed
Ltd (Sublimit)
Sri Adhitya Polyfilms Pvt. Ltd ST Non-Fund Based ICRA A4 22.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Tajgvk Hotels & Resorts Ltd ST, FB Limits ICRA A1 300 -
(revised from ICRA A1+)
Tajgvk Hotels & Resorts Ltd ST, Non-FBL ICRA A1 - -
(Interchangeable) ^
(revised from ICRA A1+)
The Tata Power Co. Ltd CP ICRA A1+; 70000 Reaffirmed
Triton Hotels & Resorts Pvt Ltd FB Bk Fac (Overdraft)ICRA A2 130 Reaffirmed
LONG TERM RATINGS:
-------------------
Aequitas Exports Pvt Ltd LT - Fund Based TL ICRA BB- 60 Assigned
(Stable)
Aequitas Exports Pvt Ltd LT - Fund Based/ CC ICRA BB- 10 Assigned
(Stable)
Alliance Granimarmo Pvt Ltd LT/ST – Unallocated ICRA D/ 45.3 -
Limits ICRA D
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Alliance Granimarmo Pvt Ltd LT- Fund Based TL ICRA D; 179.7 -
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Assam Gas Company Ltd Issuer Rating ICRA A+ - Assigned
(Stable)
Brij Gopal Construction FBL ICRA 500 -
Company (P) Ltd BBB(Stable)
(reaffirmed and withdrawn)
Brij Gopal Construction Non-FBL ICRA 1500 -
Company (P) Ltd BBB(Stable)
(reaffirmed and withdrawn)
Candor Kolkata One Hi-Tech NCD Programme ICRA 21000 -
Structures Pvt Ltd A-(Stable);
(Reaffirmed and withdrawn)
Children’S Education Society Fund based - TL ICRA BBB 439.3 -
(Stable);
(Upgraded from ICRA BBB- (Stable))
Children’S Education Society Fund based - Working ICRA BBB - -
Capital Fac (Stable);
(Upgraded from ICRA BBB- (Stable))
Children’S Education Society Non-Fund based – BG ICRA BBB 102 -
(Stable);
(Upgraded from ICRA BBB- (Stable))
Classic Industries And Exports LT/ ST- Fund Based/ ICRA A- 334.5 -
Ltd Non-Fund based (Stable)/
A2+;
Assigned/outstanding
Classic Industries And Exports LT: TL ICRA A- 60 Outstanding
Ltd (Stable);
Criss Financial Holdings Ltd Bk lines ICRA 500 Reaffirmed
BBB-(Stable)
Davariya Brothers Pvt Ltd LT / ST Fundbased ICRA BB 1151.9 Reaffirmed
Limit (Stable) /
ICRA A4
Dian Energy B.V TL ICRA A; 200 Reaffirmed
(outlook revised to Negative from Stable and withdrawn)
Electropath Services (India) LT - Fund Based/ CC ICRA D 212.7 -
Pvt Ltd
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Godrej Agrovet Ltd LT, FB Working ICRA AA 600 Reaffirmed
Capital Fac (Stable);
Indutch Composites Technology LT FB (TL) ICRA 325 Reaffirmed
Pvt. Ltd BBB(Stable)
Indutch Composites Technology LT FB/CC ICRA 150 Reaffirmed
Pvt. Ltd BBB(Stable)
Invenire Petrodyne Ltd LT Non-FBL ICRA A - Reaffirmed
(Interchangeable**)
(**with short-term limits)
Itw Consulting Pvt Ltd LT – Unallocated ICRA 200 Assigned
BBB-(Stable)
Jonas Petro Products Pvt Ltd LT – CC ICRA D 7.5 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Jonas Petro Products Pvt Ltd LT – TL ICRA D 28.4 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Jonas Petro Products Pvt Ltd LT – Unallocated ICRA D 19.1 -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Kineco Ltd LT, Interchangeable ICRA BBB- - Reaffirmed
limits (Negative)
Kineco Ltd LT, FB Fac ICRA BBB- 180 Reaffirmed
(Negative)
Kineco Ltd LT, TL/ Working ICRA BBB- 361.6 Reaffirmed
Capital TL (Negative)
Kineco Ltd LT/ST, Non-fund based ICRA BBB- 210 Reaffirmed
(Negative)
/ICRA A3
Kineco Ltd LT/ST, Unallocated Fac ICRA BBB- 54.4 Reaffirmed
(Negative)
/ICRA A3
L&T Shipbuilding Ltd NCD (NCD) Programme ICRA 13310 Withdrawn
AAA(CE)
(Stable)
M/S. Purushottam Narayan Gadgil FB – Working Capital ICRA 750 Reaffirmed
Fac A-(Stable)
Mfar Developers Pvt Ltd Fund Based – TL ICRA BBB- 7500 Assigned
(Stable);
Mindarika Pvt Ltd CC ICRA 20 Reaffirmed
AA-(Stable)
Mindarika Pvt Ltd TL ICRA 325 Reaffirmed
AA-(Stable)
Mindarika Pvt Ltd Unallocated ICRA 175 Reaffirmed
AA-(Stable)
/ ICRA A1+
New Opportunity Consultancy LT Bk lines ICRA BB 50 Reaffirmed
Pvt Ltd (Stable)
New Opportunity Consultancy NCD programme ICRA - -
Pvt Ltd BB(Stable)
(reaffirmed and simultaneously withdrawn)
Orange Renewable Power Pvt Ltd Non-FBL ICRA 2500 -
A&/ICRA A1&
(continues to be on rating watch with developing implications)
Orange Renewable Power Pvt Ltd TL ICRA A&; 1000 -
(continues to be on rating watch with developing implications)
Prestress Steel Llp (Erstwhile LT- Fund Based TL ICRA 18 -
Prestress Wire Industries) BB+(Stable);
(Rating Downgraded from ICRA BBB-(Stable) and Continues to remain under ‘Issuer Not Cooperating’
category)
Prestress Steel Llp (Erstwhile LT- Fund Based CC ICRA 400 -
Prestress Wire Industries) BB+(Stable);
(Rating Downgraded from ICRA BBB-(Stable) and Continues to remain under ‘Issuer Not Cooperating’
category)
Royals Marine Food Pvt Ltd LT – Unallocated ICRA 100 -
B+(Stable)
(Rating Moved to issuer not cooperating category)
Senthil Murugan Jewellers Pvt LT Fund based CC ICRA BB+ 460 Reaffirmed
Ltd
(; Outlook revised to ‘Negative’ from ‘Stable’)
Spandana Sphoorty Financial Ltd Bk Fac ICRA 35000 Reaffirmed
A-(Stable);
Spandana Sphoorty Financial Ltd NCDs ICRA 2388.8 Reaffirmed
A-(Stable);
Spandana Sphoorty Financial Ltd NCDs ICRA 2000 Assigned
A-(Stable);
Sri Adhitya Polyfilms Pvt. Ltd LT Fund based/ TL ICRA B- 6.7 -
(stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Sri Adhitya Polyfilms Pvt. Ltd LT - Fund Based/ CC ICRA B- 50 -
(stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Sri Adhitya Polyfilms Pvt. Ltd LT/ST – Unallocated ICRA B- 0.8 -
(stable)/ A4
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Sri Balaji Textiles LT- FB Fac ICRA 50 -
B-(Stable
(Rating Continues to remain under ‘Issuer Not Cooperating’ category)
Suchirindia Infratech (P) Ltd Timberleaf project ICRA - Assessed
Hyderabad
Six-Star
(The project is being developed by Suchirindia Infratech (P) Limited in Hyderabad.)
Tajgvk Hotels & Resorts Ltd Long-TL ICRA A 1656.3 -
(Negative)
(revised from ICRA A+ (Negative))
Tata Power Renewable Energy Ltd NCDs ICRA AA- 5000 Reaffirmed
(Stable)
Tata Power Renewable Energy Ltd Non-FB limit ICRA AA- 2150 Reaffirmed
(Stable)
Tata Power Renewable Energy Ltd FB TL ICRA AA- 4850 Reaffirmed
(Stable)
The Tata Power Co. Ltd NCD (NCD) Programme ICRA AA- 2310 Reaffirmed
(Stable);
Triton Hotels & Resorts Pvt Ltd FB Bk Fac (TL) ICRA BBB+ 1147.1 Reaffirmed
Triton Hotels & Resorts Pvt Ltd Non-FB Bk Fac (BG) ICRA BBB+ 32 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.
(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at rru.data@refinitiv.com)
Source: reuters
