ICRA ratings for Indian debt instruments-Jul 17 By Reuters


© Reuters. ICRA ratings for Indian debt instruments-Jul 17

Jul 17 (Reuters) – Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS:)) for local debt instruments as of July 16, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ——

———-

——

—–

——— SHORT TERM RATINGS: ——————- Axis Asset Management Co. Ltd

Axis Ultra ST Fund

ICRA A1+mfs –

Outstanding Axis Asset Management Co. Ltd

Axis Liquid Fund

ICRA A1+mfs –

Outstanding Axis Asset Management Co. Ltd

Axis Treasury

ICRA A1+mfs –

Outstanding

Advantage Fund Bhagwati Power & Steel Ltd

Non-fund Based – LOC ICRA A2

200

Upgraded

from ICRA A3+ (Removed from rating watch with developing implications) Bhagwati Power & Steel Ltd

Non-fund Based –

ICRA A2

10

Upgraded

Forward contract

from ICRA A3+ (Removed from rating watch with developing implications) Comstar Automotive

ST Non Fund based

ICRA A1+&

120

– Technologies Pvt Ltd Comstar Automotive

ST Sub limit

ICRA A1+&

– Technologies Pvt Ltd Gm Sugar & Energy Ltd

ST – Fund Based

ICRA A4

250

Reaffirmed Industrial Forging Industries

Non FB limits

ICRA A4

15

Reaffirmed Pvt Ltd (Removed from the ‘ISSUER NOT COOPERATING’ category) Nissan Syntex Pvt Ltd

Non-fund Based

ICRA A4

Reaffirmed

PC/PCFC/FBP/FBD/FCBP

/FCBD – Sublimit to CC Nissan Syntex Pvt Ltd

Non-fund Based BG – ICRA A4

Reaffirmed

Sublimit to CC Reliance Power (NS:) Ltd

ST – Non-FBL

ICRA D

400

Revised from

ICRA A4 (Continues to remain in non-cooperating category) Reliance Power Ltd

CP/ ST debt

ICRA D

10000 Revised from

Programme/ NCD (with

ICRA A4

maturity of less than one year) (Continues to remain in non-cooperating category) Sundaram Finance Ltd

CP

ICRA A1+

60000 Outstanding Sundaram Finance Ltd

Short-TL from Bks

ICRA A1+

10000 Outstanding Vidarbha Industries Power Ltd

Working Capital Fac ICRA D

5000

Revised from

(CC/WCDL)

ICRA A4+ (Continues to remain in non-cooperating category) Vidarbha Industries Power Ltd

Non-FBL (B/G and L/C) ICRA D

2000

Revised from

ICRA A4+ (Continues to remain in non-cooperating category) MEDIUM TERM RATINGS: ——————- Sundaram Finance Ltd

Fixed Deposits

MAAA

Outstanding

LONG TERM RATINGS: ——————- Axis Asset Management Co. Ltd

Axis Capital

ICRA

Outstanding

Protection Oriented AAAmfs(SO)

FundSeries 5 Axis Asset Management Co. Ltd

Axis ST Fund

ICRA AAmfs –

Withdrawn Axis Asset Management Co. Ltd

Axis Bking & PSU Debt ICRA AAmfs –

Outstanding

Fund Bhagwati Power & Steel Ltd

FB -TL

ICRA BBB+

466

Upgraded

from ICRA BBB (Removed from rating watch with developing implications) Bhagwati Power & Steel Ltd

FB – Working Capital ICRA BBB+

335

Upgraded

Fac

from ICRA BBB (Removed from rating watch with developing implications) Brc Infra Pvt. Ltd

Fund Based – Secured ICRA BB

60

Assigned

Overdraft Comstar Automotive

LT Fund based

ICRA AA-&

350

– Technologies Pvt Ltd Ess Kay Fincorp Ltd – Northern

PTC Series A2

Provisional 146.7 – Arc 2019 Cv Ferb

ICRA A (Confirmed as final) Ess Kay Fincorp Ltd – Northern

PTC Series A3

Provisional 8.3

– Arc 2019 Cv Ferb

ICRA A- (Confirmed as final) Ess Kay Fincorp Ltd – Northern

PTC Series A1

Provisional 255.6 – Arc 2019 Cv Ferb

ICRA AA (Confirmed as final) Ess Kay Fincorp Ltd – Northern

PTC Series A2

Provisional 14.6

– Arc 2019 Cv Fury

ICRA A (Confirmed as final) Ess Kay Fincorp Ltd – Northern

PTC Series A1

Provisional 419.8 – Arc 2019 Cv Fury

ICRA AA- (Confirmed as final) Globe Commodities Ltd

LT Bk Lines

ICRA A+

3886.6 Assigned

(Fundbased/Non-Fund

based) Gm Sugar & Energy Ltd

LT – Fund based (CC) ICRA BB-

350

Reaffirmed Gm Sugar & Energy Ltd

LT – Fund based – TL ICRA BB-

550

Reaffirmed

(Proposed) Gm Sugar & Energy Ltd

LT/ ST – Unallocated ICRA BB- /A4 100

Reaffirmed Industrial Forging Industries

FB limits

ICRA B+

102

Reaffirmed Pvt Ltd (Removed from the ‘ISSUER NOT COOPERATING’ category) Industrial Forging Industries

Unallocated limit

ICRA B+/A4 17.5

Reaffirmed Pvt Ltd (Removed from the ‘ISSUER NOT COOPERATING’ category) Mittal Clothing Company

LT – Working Capital ICRA BB+

200

Reaffirmed

Fac Mittal Clothing Company

LT/ ST – Unallocated ICRA BB+ / 5.1

Reaffirmed

A4+ Nissan Syntex Pvt Ltd

FB CC

ICRA B+

70

Reaffirmed Nissan Syntex Pvt Ltd

FB TL

ICRA B+

26.3

Reaffirmed Nissan Syntex Pvt Ltd

Unallocated Limits

ICRA B+/A4 4.2

Reaffirmed Nxtgen Datacenter And Cloud

LT – CC

ICRA D

150

Downgraded Technologies Pvt Ltd

from ICRA

BBB- Nxtgen Datacenter And Cloud

LT – TL

ICRA D

1000

Downgraded Technologies Pvt Ltd

from ICRA

BBB- Reliance Power Ltd

LT NCDs (NCD)

ICRA D

10000 Revised from

ICRA C (Continues to remain in non-cooperating category) Reliance Power Ltd

LT Loans

ICRA D

21830^ Revised from

ICRA C (Continues to remain in non-cooperating category) Reliance Power Ltd

LT – FBL

ICRA D

800

Revised from

ICRA C (Continues to remain in non-cooperating category) Reliance Power Ltd

Non-FBL (B/G and L/C) ICRA D / D 37120 Revised from

ICRA C/A4 (Continues to remain in non-cooperating category) Sundaram Finance Ltd

NCD

ICRA AAA

15000 Assigned Sundaram Finance Ltd

FB Limits from Bks

ICRA AAA

30000 Outstanding Sundaram Finance Ltd

Long-TL from Bks

ICRA AAA

31250 Outstanding Sundaram Finance Ltd

Non-FBL from Bks

ICRA AAA

80.8

Outstanding Sundaram Finance Ltd

NCDs#

ICRA AAA

67400 Outstanding # NCDs outstanding as on November 24, 2018 Sundaram Finance Ltd

Subordinated

ICRA AAA

22571 Outstanding

Debentures Versatile Engineers

No Default

Statement (Removed from the ‘ISSUER NOT COOPERATING’ category) Vidarbha Industries Power Ltd

TL – LT Scale

ICRA D

31908^ Revised from

ICRA BB+ (Continues to remain in non-cooperating category) ^includes ECB of US$ 25 mn ——————————————————————————————– $: 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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