Jan 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 31, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Alstone International Non-FBL ICRA A4+ 100 Withdrawn
Issuer Not Cooperating
Aravali Power Company Pvt Ltd Non-fund Based ICRA A1+ 1250 Upgraded
Working Capital from ICRA A1
Bansal Alloys & Metals Pvt Ltd ST Non-FB Fac ICRA A3+ 352
Reason for delay in carrying out periodic review: - Review process is underway
Bhagwan Mahaveer Memorial Jain ST - Non Fund Based ICRA A4 5
Trust
Rating moved to the ‘Issuer Not Cooperating’ category
Bharti Enterprises (Holding) CP ICRA A1+ 23000 Reaffirmed
Pvt Ltd
watch with negative implications continues
Bharti Telecom Ltd CP ICRA A1+ 70000 Reaffirmed
watch with negative implications continues
Cargill India Pvt Ltd (part of the regional ICRA A1+ - Reaffirmed
umbrella Fac for Asia
Pacific subsidiaries of Cargill Incorporated)***
***The company has corporate guarantee from Cargill Incorporated, USA for these facilities;
^Rated as a Fund-based facility previously
Cargill India Pvt Ltd Fund based/ Non-FB ICRA A1+ - Reaffirmed
Fac***
***The company has corporate guarantee from Cargill Incorporated, USA for these facilities;
^Rated as a Fund-based facility previously
Cargill India Pvt Ltd ST Non-fund based** ICRA A1+ 10600 Reaffirmed
**100% cash backed facility
Cargill India Pvt Ltd CP ICRA A1+ 3000 Reaffirmed
Dalmia Bharat Sugar And CP ICRA A1+ 7000
Industries Ltd
Reason for delay in carrying out periodic review: - Review process is underway
Darshita Aashiyana Pvt Ltd Non-fund based- ICRA A1 3500 Reaffirmed
Working Capital Fac (CE)
Long-term rating of ICRA A (CE) (Stable) reaffirmed; outlook revised to Stable from Positive;
short-term rating of ICRA A1 (CE) assigned;
Datamatics Global Services Ltd ST - FB/ Non-FBL ICRA A1 750 outstanding
Deva Drill Tech (India) Ltd Non-fund based ICRA A3+ 160 Downgraded
-Working Capital Fac from ICRA A2
Dhar Construction Company Non-fund based BG ICRA A3 580 Reaffirmed
Dugar Polymers Ltd Non-Fund Based ICRA A4 55
Ratings continues to remain under ‘Issuer Not Cooperating’ category
Electromech Material Handling ST – Interchangeable^ ICRA A2 - Upgraded
Systems (India) Pvt Ltd from ICRA A3+
^: sublimit of working capital facility
Electromech Material Handling ST – Non Fund Based ICRA A2 610 Upgraded
Systems (India) Pvt Ltd from ICRA A3+
God Granites ST - FB ICRA A4+ 30 Withdrawn
God Granites ST - FB/Non-FB ICRA A4+ 70 Withdrawn
Haldiram Marketing Pvt. Ltd Non-FBL ICRA A1 30 Reaffirmed
Infotel Business Solutions Ltd ST Non fund based ICRA A4; 75
Continues to remain under the ‘Issuer Not Cooperating’ category
Jindal Pipes Ltd CP (CP) ICRA A1+ 500 Reaffirmed
Kraft Powercon India Ltd ST – NonFund Based ICRA A3 62.6
Fund based-TL
Rating moved to the ‘Issuer Not Cooperating’ category
Krishnan Food Processors ST – Fund Based ICRA A4 503 Downgraded
from ICRA A4+
Krishnan Food Processors ST – Non-Fund Based ICRA A4 30 Downgraded
from ICRA A4+
Krishnan Food Processors ST – Interchangeable^ ICRA A4 - Downgraded
from ICRA A4+
^Sub limits
Kvr Projects Pvt Ltd Non-FBL ICRA A4 150 Reaffirmed
Mathiyan Construction Pvt. Ltd ST – Non Fund Based ICRA A4 350
Continues to remain in the ‘ISSUER NOT COOPERATING’ category
Mohit Ispat Ltd ST non fund based ICRA A4 350
Rating continues to remain under issuer not cooperating category
National Bank For Agricultural CP ICRA A1+ 500000 Reaffirmed
And Rural Development
Nayara Energy Ltd CP Programme ICRA A1+ 2000 Withdrawn
Nmk Textile Mills (India) Pvt Fund based- Working ICRA A3 - Reaffirmed
Ltd Capital Facility**
-6
**Sub-limit of Fund based Working Capital Facility
Nmk Textile Mills (India) Pvt Non Fund based- ICRA A3 90 Reaffirmed
Ltd Working Capital
Facility
P C Patel Infra Pvt Ltd Non-Fund based BG ICRA A3 950 Withdrawn
Pvr Ltd CP ICRA A1+ 2000 Reaffirmed
Rajnish Steels Non-Fund based – LOC^ ICRA A4 -
Rating continues to remain under the ‘Issuer Not Cooperating’ category/^Sub-limit of CC facility
Shrenik Marble Pvt Ltd ST Non-fund based ICRA A4 50 -
Rating moved to Issuer Not Cooperating category
Silica Ceramica Pvt Ltd Non-FBL ICRA A1(CE) 432.5 Reaffirmed
Somic Zf Components Pvt Ltd ST: FB/Non-Fund Based ICRA A1 317.5 Reaffirmed
Tata Petrodyne Ltd ST Non-FBL ICRA A1 650 Downgraded
from ICRA A1+
removed from watch with developing implications
Uni Medicolabs Non-fund Based ICRA A4+ 46
Reason for delay in carrying out periodic review: - Review process underway
Unique Engineers Pvt Ltd ST Non-fund based ICRA A3+ 400 Reaffirmed
Urvi Plastic Industries ST Non-FB LOC ICRA A4 54
Rating moved to the ‘Issuer Not Cooperating’ category
Uti Asset Management Co. Ltd UTI Money Market Fund ICRA A1+mfs - Reaffirmed
Uti Asset Management Co. Ltd UTI Liquid Cash Plan ICRA A1+mfs - Reaffirmed
Uti Asset Management Co. Ltd UTI Overnight Fund ICRA A1+mfs - Reaffirmed
MEDIUM TERM RATINGS:
-------------------
Jindal Pipes Ltd Fixed deposits MA+ (Stable) 500 Reaffirmed
placed on six-month notice of withdrawal
LONG TERM RATINGS:
-------------------
A Shama Rao Foundatzion LT– Fund based ICRA B+ 695 Downgraded
(Stable) from ICRA BB+
continues to remain under ‘Issuer Not Cooperating’ category
A Shama Rao Foundation LT - Unallocated Fac ICRA B+ 2.5 Downgraded
(Stable) from ICRA BB+
continues to remain under ‘Issuer Not Cooperating’ category
Alstone International FB Limits ICRA 80 Withdrawn
BB+(Stable)
Issuer Not Cooperating
Andhra Pradesh Power Finance LT bond programme ICRA D 40533
Corporation Ltd
Reason for delay in carrying out periodic review: Review process is underway
Apg Premium Homes Pvt Ltd NCD Programme (NCD) ICRA BB- 600 Reaffirmed
(Stable)
Aravali Power Company Pvt Ltd TL ICRA A+ 78391.3 Upgraded
(Stable) from ICRA
A(Stable)
Aravali Power Company Pvt Ltd FB Working Capital ICRA A+ 12000 Upgraded
Limits (Stable) from ICRA
A(Stable)
Assetz Premium Holdings Pvt Ltd NCD Programme (NCD) ICRA BB- 1500 Reaffirmed
(Stable)
Avadh Cotton Industries - Fund based – ICRA 45
Jamnagar CC-cum-optionally B(Stable)
convertible debentureBD^
Rating continues to remain under ‘Issuer Not Cooperating’ category
Avadh Cotton Industries - Fund based – TL ICRA 14.3
Jamnagar B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Aye Finance (P) Ltd. NCD Programme ICRA A (CE) 200 Upgraded
(Stable) from ICRA A-
(CE) (Stable)
Aye Finance (P) Ltd. Fund Based – TL ICRA BBB+ 556 Upgraded
(Stable) from ICRA
BBB (Stable)
Aye Finance (P) Ltd. NCD Programme ICRA BBB+ 4788 Upgraded
(Stable) from ICRA
BBB (Stable)
Bansal Alloys & Metals Pvt Ltd LT FB Fac ICRA BBB 200
(Stable)
Reason for delay in carrying out periodic review:- Review process is underway
Bansal Alloys & Metals Pvt Ltd LT Overdraft ICRA BBB 30
(Stable)
Reason for delay in carrying out periodic review: - Review process is underway
Bansidhar Agarwalla & Co. Pvt Working Capital TL ICRA B- 15
Ltd Unit (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Bansidhar Agarwalla & Co. Pvt Seasonal CC ICRA B- 32.5
Ltd Unit (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Bansidhar Agarwalla & Co. Pvt Working Capital Loan ICRA B- 8.6
Ltd Unit (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Bansidhar Agarwalla & Co. Pvt BG ICRA B- 1.7
Ltd Unit (Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Barbrik Project Ltd FB-TL ICRA BBB+ 5 Downgraded
from ICRA A-
outlook revised to Negative from Stable
Barbrik Project Ltd FB- Working Capital ICRA BBB+ 445 Downgraded
Fac from ICRA A-
outlook revised to Negative from Stable
Barbrik Project Ltd Non-fund ICRA BBB+ 2210 Downgraded
based-Working Capital from ICRA A-
Fac
outlook revised to Negative from Stable
Barbrik Project Ltd LT- Unallocated limitsICRA BBB+ 840 Downgraded
from ICRA A-
outlook revised to Negative from Stable
Bhagwan Mahaveer Memorial Jain LT - Fund Based/ CC ICRA B+ 147.8 Downgraded
Trust (Stable) from ICRA
- (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Bhagwan Mahaveer Memorial Jain LT - Fund Based TL ICRA B+ 572.7 Downgraded
Trust (Stable) from ICRA
- (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Bhagwan Mahaveer Memorial Jain LT – Unallocated ICRA B+ 104.5 Downgraded
Trust (Stable) from ICRA
- (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Bvsr Constructions Pvt Ltd LT: CC Fac ICRA A- 100 Reaffirmed
(Positive)
outlook revised from Stable
Bvsr Constructions Pvt Ltd LT: Non-FB Fac ICRA A- 2200 Reaffirmed
(Positive)
outlook revised from Stable
Bvsr Constructions Pvt Ltd LT: Unallocated ICRA A- 840 Reaffirmed
(Positive)
outlook revised from Stable Rating Action
Cargill India Pvt Ltd FB/ Non-FB Fac ICRA - Reaffirmed
AA+(CE)
(Stable)/ICRA A1+
Chaitanya India Fin Credit Pvt Bk Fac ICRA 520
Ltd BBB-(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Chaitanya India Fin Credit Pvt NCD Programme ICRA 1280
Ltd BBB-(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Chaitanya India Fin Credit Pvt Subordinated Debt ICRA 200
Ltd Programme BBB-(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Chaitanya India Fin Credit Pvt Market Linked PP-MLDICRA 200
Ltd Debenture Programme BBB-(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Ctrls Datacenters Ltd Fund based- CC ICRA A+ 250
(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Ctrls Datacenters Ltd Fund based-TL ICRA A+ 2675
(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Ctrls Datacenters Ltd Unallocated Limits ICRA A+ 2075
(Stable)/A1
Reason for delay in carrying out periodic review: Review process is underway
Dalmia Bharat Sugar And BLR ICRA AA- 13064.9
Industries Ltd (Stable) /
ICRA A1+
Reason for delay in carrying out periodic review:- Review process is underway
Darshita Aashiyana Pvt Ltd Fund Based- Working ICRA A (CE) 1500 Reaffirmed
Capital Fac (Stable)
outlook revised to Stable from Positive
Deva Drill Tech (India) Ltd Fund based -TL ICRA BBB 19.5 Downgraded
(Stable) from ICRA
BBB+ (Stable)
Deva Drill Tech (India) Ltd Fund based - Working ICRA BBB 180 Downgraded
Capital Fac (Stable)/ from ICRA
ICRA A3+ BBB+
(Stable)/ICRA
A2
Dhar Construction Company Fund based – TL - - -
Dhar Construction Company Fund based – CC ICRA BBB- 200 Reaffirmed
(Stable)
Dhar Construction Company Unallocated limits ICRA BBB- 20 Reaffirmed
(Stable)
/ICRA A3
Dian Energy B.V. TL ICRA A 200 Downgraded
(Stable)^ from ICRA
A+(SO)
removed from watch with developing implications/
^ICRA's analytical approach for rating Dian Energy B.V.’s (DEBV) facility has changed. The
rating is now based on a consolidated view of the rated entity with its parent, Tata Petrodyne
Limited (TPL), instead of the approach followed earlier whereby the rating of the instrument was
based on the corporate guarantee furnished by the parent
Ds-Max LT - Fund Based- TL ICRA BB+ 150
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category.
Dugar Polymers Ltd CC ICRA 330 Downgraded
B+(Stable) from ICRA
BB-(Stable)
Ratings continues to remain under ‘Issuer Not Cooperating’ category
Dugar Polymers Ltd TL ICRA 25.9 Downgraded
B+(Stable) from ICRA
BB-(Stable)
Ratings continues to remain under ‘Issuer Not Cooperating’ category
Dugar Polymers Ltd Unallocated ICRA 9.1 Downgraded
B+(Stable) from ICRA
BB-(Stable)
Ratings continues to remain under ‘Issuer Not Cooperating’ category
Electromech Material Handling LT – Unallocated ICRA BBB+ 110 Upgraded
Systems (India) Pvt Ltd from ICRA BBB
outlook revised to Stable from Positive
Electromech Material Handling LT – Fund Based / TL ICRA BBB+ 130 Upgraded
Systems (India) Pvt Ltd from ICRA BBB
outlook revised to Stable from Positive
Electromech Material Handling LT – Fund Based / CC ICRA BBB+ 400 Upgraded
Systems (India) Pvt Ltd from ICRA BBB
outlook revised to Stable from Positive
Gkc Projects Ltd Fund based-CC ICRA D 3340.8
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gkc Projects Ltd Fund based-TL ICRA D 5465.7
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gkc Projects Ltd Non fund based – BG ICRA D 11168.3
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gkc Projects Ltd Non fund based – LOC ICRA D 1950
Rating continues to remain under ‘Issuer Not Cooperating’ category
Gkc Projects Ltd Unallocated Limits ICRA D 75.2
Rating continues to remain under ‘Issuer Not Cooperating’ category
God Granites LT - FB – CC ICRA 15 Withdrawn
BB+(Stable)
Great Galleon Ventures Ltd LT – FB – Proposed TL - 0 -
Great Galleon Ventures Ltd LT – FB – Unallocated ICRA BBB+ 500 Reaffirmed
(Stable)
Gujarat International Finance FB – TL ICRA 12610 Reaffirmed
Tec-City Co. Ltd BBB+(Stable)
Gv Road Projects Pvt Ltd LT: TL Fac ICRA A-(CE) 2770 Reaffirmed
(Positive)
outlook revised from Stable
Haldiram Marketing Pvt. Ltd FBL ICRA A 250 Reaffirmed
(Stable)
Hindva Builders FB - CC ICRA BB- 25 Reaffirmed
(Stable)
Hindva Builders FB – TL ICRA BB- 575.8 Reaffirmed
(Stable)
Hindva Builders FB Unallocated ICRA BB- 29.2 Reaffirmed
(Stable)
Ibrox Real Estate Development LT- Fund Based- TL ICRA BBB 3050 Downgraded
Pvt Ltd (Stable) from ICRA
BBB+
Outlook revised from Negative to Stable
Ireo Pvt Ltd LT fund based ICRA D 4206.9
Continues to remain under the ‘Issuer Not Cooperating’ category
Ireo Pvt Ltd LT non-fund based ICRA D 1500
Continues to remain under the ‘Issuer Not Cooperating’ category
Ireo Pvt Ltd LT Unallocated ICRA D 3993.1
Continues to remain under the ‘Issuer Not Cooperating’ category
Jindal Pipes Ltd Issuer rating ICRA A+ - Reaffirmed
(Stable)
Kandalaa LT- Fund based- CC ICRA BB- 110 Reaffirmed
(Stable)
Kraft Powercon India Ltd Fund based-TL ICRA BBB- 40
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Kraft Powercon India Ltd Fund based-CC ICRA BBB- 75
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Krishnan Food Processors LT – Fund based TL ICRA BB- 18.4 Downgraded
(Negative) from ICRA
BB+
(Negative)
Krishnan Food Processors LT – Interchangeable^ ICRA BB- - Downgraded
(Negative) from ICRA
BB+
(Negative)
^Sub limits
Krishnan Food Processors LT – Unallocated ICRA BB- 48.6 Downgraded
(Negative) from ICRA
BB+
(Negative)
Ktc Foods Pvt Ltd FBL ICRA D 1100
Continues to remain under the ‘Issuer Not Cooperating’ category
Ktc Foods Pvt Ltd TL ICRA D 90.1
Continues to remain under the ‘Issuer Not Cooperating’ category
Ktc Foods Pvt Ltd Non-FBL ICRA D 50
Continues to remain under the ‘Issuer Not Cooperating’ category
Ktc Foods Pvt Ltd Unallocated ICRA D 9.9
Continues to remain under the ‘Issuer Not Cooperating’ category
Kvr Projects Pvt Ltd FB limits ICRA BB- 50 revised from
(Negative) ICRA
BB(Negative)
Kvr Projects Pvt Ltd Unallocated limits ICRA BB- 210
(Negative)
/ICRA A4
Revised from ICRA BB(Negative) / ICRA A4; reaffirmed
L&T Sargent & Lundy Ltd Non-Fund Based BG ICRA AA 200 Reaffirmed
(Stable)
/A1+
L&T Sargent & Lundy Ltd LT/short- term ICRA AA - Reaffirmed
Interchangeable (Stable)/
A1+
L&T Sargent & Lundy Ltd LT/ST unallocated ICRA 50 Reaffirmed
AA(Stable)
/A1+
Lahore Hospital Society Fund Based Working ICRA A- 300 Upgraded
Capital (Stable) from ICRA
BBB+
(Positive)
Lahore Hospital Society Non-Fund Based ICRA A- 100 Upgraded
Working Capital (Stable) from ICRA
BBB+
(Positive)
Lahore Hospital Society Unallocated ICRA A- 156.8 Upgraded
(Stable) from ICRA
BBB+
(Positive)
Laxmikant Cotton FB CC ICRA 50 Withdrawn
B(Stable)
Issuer Not Cooperating
Laxmikant Cotton Unallocated ICRA 12 Withdrawn
B(Stable)
Issuer Not Cooperating
Madurai Trans Carrier Ltd FB – TL ICRA A 600
(Stable)
Reason for delay in carrying out periodic review: - Review process is underway
Mathiyan Construction Pvt. Ltd LT -Fund based CC ICRA C+ 100
Continues to remain in the ‘ISSUER NOT COOPERATING’ category
Mewar Hitech Engineering Ltd FB limits ICRA BB 100
(Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
Mit Art Design And Technology Fund Based – TL ICRA 842.7 Reaffirmed
University A-(Stable)
Mit Art Design And Technology Fund Based – Working ICRA 149 Reaffirmed
University Capital Fac A-(Stable)
Mizoram Ispat Industries Unallocated Limit ICRA B+ 7.5 Downgraded
(Stable) from ICRA BB
/ICRA A4 (Stable)/ICRA
A4
Continues to remain under ‘Issuer Not Cooperating’ category.
Mizoram Ispat Industries Fund based – CC ICRA 42.5 Downgraded
B+(Stable) from ICRA BB
(Stable)
Continues to remain under ‘Issuer Not Cooperating’ category.
Mizoram Ispat Industries Fund based – TL ICRA 200 Downgraded
B+(Stable) from ICRA BB
(Stable)
Continues to remain under ‘Issuer Not Cooperating’ category.
Mohit Ispat Ltd TL ICRA 170
B+(Stable)
Rating continues to remain under issuer not cooperating category
Mohit Ispat Ltd Fund based/ CC ICRA 210
B+(Stable)
Rating continues to remain under issuer not cooperating category
Municipal Corporation Gurugram Issuer rating ICRA A+ - Withdrawn
(Stable)
National Bank For Agricultural LT Bonds Programme ICRA AAA 31460 Reaffirmed
And Rural Development (Stable)
National Bank For Agricultural LT Bonds Programme ICRA AAA 400000 Assigned
And Rural Development (Stable)
Navbharat Buildcon Pvt Ltd Fund Based ICRA B 108
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Navbharat Buildcon Pvt Ltd Non-fund Based ICRA B 37.5
(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Neerus Ensembles Pvt Ltd Unallocated ICRA B+ 1.6
(Stable) /A4
Rating downgraded from ICRA BB-(Stable) and Rating continues to remain under ‘Issuer Not
Cooperating’ category
Neerus Ensembles Pvt Ltd CC ICRA 280 Downgraded
B+(Stable) from ICRA
BB-(Stable)
Neerus Ensembles Pvt Ltd TL ICRA 68.4 Downgraded
B+(Stable) from ICRA
BB-(Stable)
Nmk Textile Mills (India) Pvt Fund based-Working ICRA 175 Reaffirmed
Ltd Capital Fac BBB-/ICRA A3
outlook revised to Positive from Stable
P C Patel Infra Pvt Ltd FB CC ICRA BBB- 150 Withdrawn
(Stable)
P C Patel Infra Pvt Ltd FB TL ICRA BBB- 30 Withdrawn
(Stable)
Parsons Nutritionals Pvt Ltd TL ICRA BBB 1030 Reaffirmed
(Stable)
Parsons Nutritionals Pvt Ltd Working Capital Fac ICRA BBB 190 Reaffirmed
(Stable)
Parsons Nutritionals Pvt Ltd Unallocated Limits ICRA BBB 80 Reaffirmed
(Stable)
Poorvika Mobiles Pvt Ltd LT, FB Fac ICRA BBB+ 499 Downgraded
from ICRA A-
outlook revised to Negative from Stable
Poorvika Mobiles Pvt Ltd LT, TL ICRA BBB+ 453 Downgraded
from ICRA A-
outlook revised to Negative from Stable
Poorvika Mobiles Pvt Ltd LT, Unallocated ICRA BBB+ 48 Downgraded
from ICRA A-
outlook revised to Negative from Stable
Popular Shoe Mart (1) CC - 120 Downgraded
from ICRA
BB(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Prathima Institute Of Medical Non-FBL - 0 -
Sciences
Prathima Institute Of Medical FB limits ICRA BBB 585.3 Reaffirmed
Sciences (Stable)
Prathima Institute Of Medical Unallocated limits ICRA BBB 64.7 Reaffirmed
Sciences (Stable) /
ICRA A3+
Prestige Projects Pvt Ltd NCDs ICRA A 1500 Reaffirmed
(Pppl) (Stable)
Pvr Ltd NCD Programme ICRA AA- 3600 Reaffirmed
Outlook revised from Stable to Positive
Pvr Ltd Fund based-TL ICRA AA- 2190 Reaffirmed
Outlook revised from Stable to Positive
Rajnish Steels Fund based – CC ICRA B+ 80
(Stable)
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Rajnish Steels Unallocated ICRA B+ 30
(Stable) /
ICRA A4
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Reddy Pharmaceuticals Ltd LT: CC - 27 Revised to
ICRA C+@
from ICRA B+
placed on watch with negative implications Stable
@ signifies rating under watch with negative implications
Reddy Pharmaceuticals Ltd LT: Unallocated limits- 73 Revised to
ICRA C+@
from ICRA B;
placed on watch with negative implications + (Stable)
@ signifies rating under watch with negative implications
Ritco Logistics Ltd LT: FB/CC ICRA BBB+ 587.5 Upgraded
(Stable) from ICRA
BBB (Stable)
Ritco Logistics Ltd LT: Non-fund Based ICRA BBB+ 100 upgraded
(Stable) from ICRA
BBB (Stable)
Sahyadri Starch & Industries LT & ST ICRA BB+ 40 downgraded
Pvt Ltd Interchangeable (Stable) from ICRA
optionally convertible/ICRA A4+ BBB-
(Stable)/ICRA
A3
moved to the ‘Issuer Not Cooperating’ category
Sahyadri Starch & Industries LT FB -CC ICRA 200 Downgraded
Pvt Ltd BB+(Stable) from ICRA
BBB- (Stable)
moved to the ‘Issuer Not Cooperating’ category
Sahyadri Starch & Industries LT FB -TL ICRA 46.2 Downgraded
Pvt Ltd BB+(Stable) from ICRA
BBB- (Stable)
moved to the ‘Issuer Not Cooperating’ category
Sahyadri Starch & Industries LT FB -Overdraft ICRA 40 Downgraded
Pvt Ltd BB+(Stable) from ICRA
BBB- (Stable)
moved to the ‘Issuer Not Cooperating’ category
Sap Energy TL ICRA 90 Downgraded
B+(Stable) from ICRA BB
(Stable)
moved to the ‘Issuer Not Cooperating’ category
Sap Energy Unallocated ICRA 2.5 Downgraded
B+(Stable) from ICRA BB
(Stable)
moved to the ‘Issuer Not Cooperating’ category
Shrenik Marble Pvt Ltd LT FB ICRA 46
B+(Stable)
moved to the ‘Issuer Not Cooperating’ category
Silica Ceramica Pvt Ltd NCD Programme ICRA A-(CE) 500 Reaffirmed
(Stable)
Silica Ceramica Pvt Ltd TL ICRA A-(CE) 750 Reaffirmed
(Stable)
Silica Ceramica Pvt Ltd FB Limits ICRA A-(CE) 400 Reaffirmed
(Stable)
Sipai Industries Fund based – TL ICRA 3
B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sipai Industries Fund based – CC ICRA 140
B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sipai Industries Unallocated ICRA 5
B+(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Small Industries Development Bonds ICRA 50000 Reaffirmed
Bank Of India AAA(Stable)
Sms9 Agro Oils Llp TL ICRA 70
B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sms9 Agro Oils Llp CC ICRA 30
B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Snn Builders Pvt Ltd LT- Fund Based- TL ICRA BBB 850 Downgraded
(Stable) from ICRA
BBB+
Outlook revised from Negative to Stable
Snn Builders Pvt Ltd LT- Unallocated ICRA BBB 670 Downgraded
(Stable) from ICRA
BBB+
Outlook revised from Negative to Stable
Snn Homes Llp LT- Fund Based- TL ICRA BBB 1240 Downgraded
(Stable) from ICRA
BBB+
Outlook revised from Negative to Stable
Somic Zf Components Pvt Ltd LT – Unallocated** - 0 -
**Unallocated limit rated previously was related to the term loans availed by the company
Somic Zf Components Pvt Ltd LT – TL ICRA A 97.5 Reaffirmed
(Stable)
Somic Zf Components Pvt Ltd LT/ST: FB/ Non-Fund ICRA A 50 Reaffirmed
Based (Stable)/
ICRA A1
Sree Lakshmi Gayatri Hospitals Fund Based TL Limits ICRA 1600 downgraded
Pvt Ltd B+(Stable) from ICRA
BB-(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Venkateshwara Polymers FBL ICRA 122.5
B(Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Suma Foods Pvt Ltd FBL ICRA D 80
Continues to remain under the ‘Issuer Not Cooperating’ category
Suma Foods Pvt Ltd TL ICRA D 77.9
Continues to remain under the ‘Issuer Not Cooperating’ category
Suma Foods Pvt Ltd Unallocated ICRA D 82.1
Continues to remain under the ‘Issuer Not Cooperating’ category
Suman Proteins Pvt Ltd Fund based – CC ICRA 70 downgraded
B+(Stable) from ICRA
BB-(Stable)
Continues to remain under ‘Issuer Not Cooperating’ category
Sushravya Upliftment Foundation LT Bk Fac ICRA 100
B(Stable)
Reason for delay in carrying out periodic review: Review process is underway
Tata Petrodyne Ltd LT Non-FBL ICRA A - Downgraded
(Interchangeable**) (Stable) from ICRA A+
removed from watch with developing implications/ **with short-term limits
Uni Medicolabs Fund Based ICRA BB+ 404
(Stable)
Reason for delay in carrying out periodic review: - Review process underway
Unique Engineers Pvt Ltd LT FB - CC ICRA BBB 100 Reaffirmed
(Negative)
United Telecoms Ltd FBL ICRA D 590
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
United Telecoms Ltd Non- FBL ICRA D 3060
Rating Continues to remain under the ‘Issuer Not Cooperating’ category
Urvi Plastic Industries LT FB CC ICRA -
(Interchangeable B(Stable)
Sublimit of LC)
Rating moved to the ‘Issuer Not Cooperating’ category
Urvi Plastic Industries LT / ST Unallocated ICRA 46
B(Stable)/A4
Rating moved to the ‘Issuer Not Cooperating’ category
Uti Asset Management Co. Ltd UTI Capital ICRA AAA(SO) - Reaffirmed
Protection Oriented
Scheme Series X - Plan 2
Uti Asset Management Co. Ltd UTI Capital ICRA AAA(SO) - Reaffirmed
Protection Oriented
Scheme Series IX - Plan 1
Uti Asset Management Co. Ltd UTI Capital ICRA AAA(SO) - Reaffirmed
Protection Oriented
Scheme Series IX - Plan 2
Uti Asset Management Co. Ltd UTI Capital ICRA AAA(SO) - Reaffirmed
Protection Oriented
Scheme Series IX - Plan 3
Uti Asset Management Co. Ltd UTI Treasury ICRA AAAmfs - Reaffirmed
Advantage Fund
Uti Asset Management Co. Ltd UTI Ultra ST Fund ICRA AAAmfs - Reaffirmed
Uti Asset Management Co. Ltd UTI Corporate Bond ICRA AAAmfs - Reaffirmed
Fund
Uti Asset Management Co. Ltd UTI Bond Fund ICRA BBBmfs@ - Reaffirmed
Uti Asset Management Co. Ltd UTI Dynamic Bond Fund ICRA BBBmfs@ - Reaffirmed
Uti Asset Management Co. Ltd UTI Bking and PSU ICRA -
Debt Fund BBB-mfs@ 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 [email protected])
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