Disclaimers: Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity. Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website (https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list (https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument. Page 1 Ratings assigned and not accepted Published on June 27, 2018 S. No Name of the Issuer Sector Instrument Type Issue Size (INR millions) Date of Non- acceptance Listing Status Rating assigned 1 Sree Siddarameshwara Agro Industries Solvent Extraction - Edible Oil BLR 800 Jun-17 Unlisted [ICRA]BB(Stable) 2 Prestige Metallics Pvt. Ltd. Trading - Metals BLR 247 Jun-17 Unlisted [ICRA]B+ (Stable)/ [ICRA]A4 3 Bhagalpur Municipal Corporation Urban Local Bodies Issuer Rating 0 Jun-17 Unlisted IrBB+(Stable) 4 Karnataka Water and Sanitation Pooled Fund Public Finance - Others Debt 1730 Jun-17 Unlisted Provisional [ICRA]A- (SO)(Stable) 5 Pradakshana Fintech Private Limited (Formerly Mimoza Enterprises Finance Pvt. Ltd.) Financial Service Companies BLR 200 Jun-17 Unlisted [ICRA]B+(Stable) 6 Biax Electric And Controls Pvt. Ltd. Non-Ferrous Metals BLR 75 Jun-17 Listed [ICRA]B(Stable)/ [ICRA]A4 7 Municipal Corporation of Greater Mumbai Urban Local Bodies Issuer Rating 0 Jun-17 Unlisted IrAA+(Stable)
41
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Ratings assigned and not accepted - ICRA Accepted Ratings.pdf49 Neel Metal Products Limited* CP/CD/ STD 50 [ICRA]A1 Feb-17 50 Raipur Municipal Corporation* Issuer 0 IrBBB+(Stable)
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Transcript
Disclaimers:
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 3
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
18 Alok Infrabuilders Private Limited
Construction - Others BLR 100 Jul-17 Unlisted [ICRA]B(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 8
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
69 Grace infrastructure private limited
Auto Ancillaries BLR 1421 Sep-17 Unlisted [ICRA]A-(stable)/[ICRA]A2+
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 10
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
88 Hajipur Municipal Council*
Urban Local Bodies Issuer Rating 0 Sep-17 Unlisted [ICRA]B+(Stable)
89 Motihari Municipal Council
Urban Local Bodies Issuer Rating 0 Sep-17 Unlisted [ICRA]B+(Stable)
90 Bettiah Municipal Council*
Urban Local Bodies Issuer Rating 0 Sep-17 Unlisted [ICRA]B+(Stable)
91 Rudrapur Municipal Corporation
Urban Local Bodies Issuer Rating 0 Sep-17 Unlisted [ICRA]BB(Stable)
92 Kashipur Municipal Corporation
Urban Local Bodies Issuer Rating 0 Sep-17 Unlisted [ICRA]BB(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 12
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
108 Vishal Infrastructure Limited
Construction - National EPC contractors
BLR 1300 Oct-17 Unlisted [ICRA]BBB-(Stable)
109 Rani Constructions Private Limited
Construction - Others BLR 436.9 Oct-17 Unlisted [ICRA]C+/[ICRA]A4
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 18
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
170 Divyasree Holdings Private Limited
Real Estate - Commercial
BLR 2080 Dec-17 Unlisted [ICRA]BBB(SO)(Stable)
171 J R D Industries Shipbreaking Issuer Rating 0 Dec-17 Unlisted [ICRA]BB(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 19
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
181 Kenz Inn Commercial Complex Limited
Real Estate - Commercial
BLR 1400 Jan-18 Unlisted [ICRA]BB(Stable)
182 Azure Power Uranus Private Limited
Power - Hydro and Renewable
BLR 375 Jan-18 Unlisted [ICRA]BBB(Stable)
183 Seoyon E-HWA Automotive India Private Limited
Auto Ancillaries BLR 1200 Jan-18 Unlisted [ICRA]A+(Stable)
184 Bruhat Bengaluru Mahanagara Palike
Urban Local Bodies BLR 21000 Jan-18 Unlisted Provisional [ICRA]A-(SO)(Stable)
185 Municipal Corporation Gurugram
Urban Local Bodies Issuer Rating 0 Jan-18 Unlisted [ICRA]A-(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 21
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
200 Jaipur Vidyut Vitran Nigam Limited
Utilities - Others Proposed Bond 40666.7 Feb-18 Unlisted Provisional [ICRA]BBB+(SO)(Stable)
201 Ajmer Vidyut Vitran Nigam Limited
Utilities - Others Proposed Bond 40666.7 Feb-18 Unlisted Provisional [ICRA]BBB+(SO)(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 24
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
226 Meghalaya Energy Corporation Limited
Power - Integrated Utilities and SEBs
Proposed Bond 8000 Mar-18 Unlisted Provisional [ICRA]BBB (SO)(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 25
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
235 Municipal Corporation Hisar
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB+(Stable)
236 Municipal Council Bhiwani
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
237 Municipal Council Sirsa Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
238 Municipal Council Jind Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 26
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
246 Englishbazar Municipality
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB(Stable)
247 Dilip Buildcon Limited Construction - National EPC contractors
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 28
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
267 Asansol Municipal Corporation
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BBB-(Stable)
268 South Dum Dum Municipality
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BBB(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 29
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
278 Municipal Corporation, Ambala
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB+(Stable)
279 Municipal Council, Kaithal
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
280 Municipal Council, Thanesar
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
281 Municipal Corporation, Yamuna Nagar
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]B+(Stable)
282 North Barrackpore Municipality*
Urban Local Bodies Issuer Rating 0 Mar-18 Unlisted [ICRA]BB-(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 30
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
288 Mayances Construction And Engineering Services Private Limited
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 31
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
297 Kay Jay Forgings Pvt. Ltd.
Auto Ancillaries Issuer Rating 0 Mar-18 Unlisted [ICRA]BBB+(Stable)
298 RSB Developers Private Limited
Construction - Others BLR 250 Mar-18 Unlisted [ICRA]B+(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 36
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
346 Meena LPG Industries Oil and Gas BLR 95 May-18 Unlisted [ICRA]BB-(Stable)/ [ICRA]A4
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 38
S. No
Name of the Issuer Sector Instrument Type
Issue Size (INR millions)
Date of Non-acceptance
Listing Status
Rating assigned
364 Gaya Municipal Corporation
Urban Local Bodies Issuer Rating 0 Jun-18 Unlisted [ICRA]BB-(Stable)
365 Krishnanagar Municipality
Urban Local Bodies Issuer Rating 0 Jun-18 Unlisted [ICRA]BB(Stable)
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Page 39
MEDIA AND PUBLIC RELATIONS CONTACT Ms. Naznin Prodhani Tel: +91 124 4545 860 [email protected]
Helpline for business queries:
+91-124-2866928 (open Monday to Friday, from 9:30 am to 6 pm) [email protected]
About ICRA Limited:
ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment
Information and Credit Rating Agency.
Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and
the National Stock Exchange. The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity.
Additionally ICRA Ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments.
The' *' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings. Please visit our website
(https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list
(https://www.icra.in/Rating?RatingType=CR) published on ICRA website for further information on rated instrument.
ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. ICRA ratings are subject to a process of surveillance, which may lead to revision in ratings. An ICRA rating is a symbolic
indicator of ICRA’s current opinion on the relative capability of the issuer concerned to timely service debts and obligations, with reference to the instrument rated. Please visit our website www.icra.in or contact any ICRA office
for the latest information on ICRA ratings outstanding. All information contained herein has been obtained by ICRA from sources believed by it to be accurate and reliable, including the rated issuer. ICRA however has not
conducted any audit of the rated issuer or of the information provided by it. While reasonable care has been taken to ensure that the information herein is true, such information is provided ‘as is’ without any warranty of any
kind, and ICRA in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness or completeness of any such information. Also, ICRA or any of its group companies may have provided services
other than rating to the issuer rated. All information contained herein must be construed solely as statements of opinion, and ICRA shall not be liable for any losses incurred by users from any use of this publication or its contents