ICRA ratings for Indian debt instruments-Jan 27

Fri Jan 27, 2012 11:11am IST

Jan 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 25, 2012.	
	
COMPANY                                 INSTRUMENT             RATING     AMOUNT   MOVEMENT	
                                                                          (RS.MLN)	
------                                  ----------            ------      -----    ---------	
	
SHORT TERM RATINGS:	
-------------------	
Bhansali & Company                      ST, FB and non-FB Fac A4     2000    Revised From	
                                                                                   A3	
Fortis Healthcare (India) Ltd           CP/ ST Debt programme A1    6000    Assigned	
Ginza Industries Ltd                    ST, Fund Based        A3     150     Assigned	
                                        Facility	
Ginza Industries Ltd                    ST, Non Fund Based    A3     60      Assigned	
                                        Facility	
Hi Bond Cement (India) Pvt Ltd          BG                    A4     22.6    Assigned	
Hi Bond Cement (India) Pvt Ltd          Credit Exposure Limit A4     8.9     Assigned	
Hi-Tech Radiators Pvt Ltd               ST, FB / Non-FBL      A4     110     Reaffirmed	
Indo Unique Trading Pvt Ltd             Short- term FBL       A4     225     Reaffirmed	
Machino Auto Comp Pvt Ltd               CC                    A4     30      Reaffirmed	
Machino Auto Comp Pvt Ltd               LOC                   A4     14      Reaffirmed	
Machino Auto Comp Pvt Ltd               BG                    A4     5       Reaffirmed	
Machino Auto Comp Pvt Ltd               Unallocated           A4     71      Reaffirmed	
Manaksia Ltd                            CP                    A1+    1250    Assigned	
Pratibha Constructions                  Non-FBL               A4+   850     Suspended	
Engineers & Contractors	
(India) Pvt Ltd	
Rudra Alloys Pvt Ltd                    LOC/Buyers Credit*    A4     100     Assigned	
*Letter of Credit Limits are fully interchangeable with Buyer's credit limits	
Sevcon India Pvt Ltd                    Non-FB, ST Fac        A4     52.5    Assigned	
Sir Shadi Lal Enterprises Ltd           Non-FBL               A4     66      Assigned	
Sri Ramadas Paper Boards Pvt            Non-FBL               A4     12.5    Assigned	
Ltd	
Stanfab Apparels Pvt Ltd                FB Fac                A4+    180     Reaffirmed	
Stanfab Apparels Pvt Ltd                Non-FB Fac            A4+    22.5    Reaffirmed	
Triveni Polymers Pvt Ltd                Non-fund Based, ST Fac A2+    40      Assigned	
Vedant Dyestuffs Intermediates          NFBL                  A4     6.5     Reaffirmed	
Pvt Ltd	
	
LONG TERM RATINGS:	
-------------------	
Fortis Healthcare (India) Ltd           FB Limits             A+    2000    Assigned	
Fortis Healthcare (India) Ltd           NCDs                  A+    2500    Assigned	
Fortis Hospotel Ltd                     TL                    A+    620     Assigned	
                                                              (SO)	
Ginza Industries Ltd                    TL                    BBB-   513     Assigned	
Ginza Industries Ltd                    LT, CC Facility       BBB-   525     Assigned	
Glodyne Technoserve Ltd                 NCDs                  A      1500    Assigned	
Hi Bond Cement (India) Pvt Ltd          CC                    B      60      Assigned	
Hi Bond Cement (India) Pvt Ltd          TL                    B      220     Assigned	
Hi-Tech Radiators Pvt Ltd               LT, FB Limits         BB     85      Reaffirmed	
Hi-Tech Radiators Pvt Ltd               TL                    BB     27.3    Reaffirmed	
Indo Unique Trading Pvt Ltd             LT FBL                BB-    225     Reaffirmed	
Karuturi Global Ltd                     TL                    BBB    500     Revised From	
                                                                                   A	
Karuturi Global Ltd                     FBL                   BBB    225     Revised From	
                                                                                   A	
Kgs Developers Ltd                      FB Fac                BBB-   650     Reaffirmed	
Kgs Developers Ltd                      Proposed Fac          BBB-/  850     Reaffirmed	
                                                              A3	
Machino Auto Comp Pvt Ltd               TL                    BB-    287     Reaffirmed	
Manappuram Health Care Ltd              TL Fac                BB+    30      Assigned	
Manappuram Health Care Ltd              FB Fac                BB+    30      Assigned	
Manappuram Health Care Ltd              Proposed FB Fac       BB+    289.9   Assigned	
Manipal Health Enterprises Pvt          LT FBL                BBB    2000    Assigned	
Ltd	
Modest Infrastructure Ltd               FBL- CC               B-     550     Revised From	
                                                                                   B	
Modest Infrastructure Ltd               Non-FBL (BG)          B-     1650    Revised From	
                                                                                   B)/	
                                                                                   A4	
Modest Infrastructure Ltd               Non-FBL (LOC)         B-     300     Revised From	
                                                                                   B)/	
                                                                                   A4	
Pratibha Constructions                  FBL                   BB+    400     Suspended	
Engineers & Contractors	
(India) Pvt Ltd	
Rudra Alloys Pvt Ltd                    CC                    B-     50      Assigned	
Rudra Alloys Pvt Ltd                    TL                    B-     5       Assigned	
Sevcon India Pvt Ltd                    FB, LT Fac            BB+    32.5    Assigned	
Sir Shadi Lal Enterprises Ltd           TL                    BB-    260     Assigned	
Sir Shadi Lal Enterprises Ltd           FBL                   BB-    1330    Assigned	
Sree Rayalaseema Alkalis &              Bk Fac                B+/    2864    withdrawn	
Allied Chemicals Ltd                                          A4	
Sri Ramadas Paper Boards Pvt            FBL                   BB-    347.5   Assigned	
Ltd	
Stanfab Apparels Pvt Ltd                TL Fac                BB+    10      Reaffirmed	
Sundaram Finance Ltd                    Purchaser Payouts           2500    Assigned	
                                                              AAA(SO)!	
! Indicates that the rating is conditional	
Super Religare Laboratories Ltd         Fund based and Non-FB A      746.36  Reaffirmed	
                                        Fac	
Triveni Polymers Pvt Ltd                TL                    A-     50      Assigned	
Triveni Polymers Pvt Ltd                FB, LT Fac            A-     70      Assigned	
U.S. Agrawal & Co.                      CC                    B      65      Assigned	
Vedant Dyestuffs Intermediates          TL                    BB-    210     Reaffirmed	
Pvt Ltd	
Vedant Dyestuffs Intermediates          FBL                   BB-    83.5    Reaffirmed	
Pvt Ltd	
--------------------------------------------------------------------------------------------	
$: 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 6636 9222, E-mail at rru.data@reuters.com)
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