ICRA ratings for Indian debt instruments-Nov 9

Fri Nov 9, 2012 11:21am IST

Nov 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 8, 2012.

COMPANY                                 INSTRUMENT             RATING     AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------             ------     -----    ---------
SHORT TERM RATINGS:
-------------------
Axiom Ceramic Pvt Ltd                   BG                    A4     6       Assigned
Cmi Ltd                                 LC                    A4     50      Reaffirmed
Cmi Ltd                                 BG                    A4     50      Reaffirmed
Emmsons International Ltd               Non-FBL               A4     3750    Revised from
                                                                                   A3+
(earlier Rs. Rs. 525.00 crore)
Gulf Oil Corporation Ltd                Non-fund Based        A3+    3050    Assigned
                                        Working Capital Limits
Enhanced to Rs. 405 crore
Ivrcl Ltd                               ST FB Fac             A2     3090    Suspended
Ivrcl Ltd                               ST Non-FB Fac         A2     8410    Suspended
Manraj Jewellers Pvt Ltd                ST Fund Based - Gold  A4     602.6   Assigned
                                        Loan
Omax Cotspin Pvt Ltd                    BG                    A4     10      Assigned
Omax Cotspin Pvt Ltd                    Foreign LOC*          A4     100     Assigned
* Sublimit of Term Loan.
Quench Soft Solutions Ltd               Standby Line of Credit A4+    50      Reaffirmed
R. L Gold Pvt Ltd                       ST Fund Based - Gold  A4     602.6   Assigned
                                        Loan
Rajmal Lakhichand & Sons                ST Non Fund Based - BG A4     150     Assigned
Rajmal Lakhichand Jewellers             ST Non Fund Based - BG A4     250     Assigned
Pvt Ltd
Tata Power Delhi Distribution           NFBL                  A1+    6250    Reaffirmed /
Ltd                                                                                Assigned
(Enhanced from Rs. 600 crore)
Tata Power Delhi Distribution           CP/ ST Debt Programme A1+    5000    Reaffirmed
Ltd
Trivista Steel & Power Pvt Ltd          NFBL                  A4     40      Revised from
                                                                                   A4
Vishwanath Paper & Boards Ltd           NFBL                  A4     70.5    Revised from
                                                                                   D
LONG TERM RATINGS:
-------------------
Axiom Ceramic Pvt Ltd                   CC Limit              B      20      Assigned
Axiom Ceramic Pvt Ltd                   TL                    B      23.1    Assigned
Axiom Ceramic Pvt Ltd                   Proposed Limit        B      12.8    Assigned
Cmi Ltd                                 Working Capital Limits BB     100     Reaffirmed
Dajikaka Gadgil Developers Pvt          TL facility           D      200     Revised from
Ltd                                                                                BB-
Emmsons International Ltd               FBL                   BB-    3700    Revised from
                                                                                   BBB
(earlier Rs. Rs. 300.00 crore)
Emmsons International Ltd               TL                    BB-    267.7   Revised from
                                                                                   BBB
(earlier Rs. Rs. 50.00 crore)
Emmsons International Ltd               Unallocated           BB-    16.3    Revised from
                                                                                   BBB
(earlier Rs. Rs. 28.40 crore)
Gulf Oil Corporation Ltd                TL                    BBB    1000    Assigned
Gulf Oil Corporation Ltd                Fund Based Working    BBB    950     Assigned
                                        Capital Limits
Harpyari Devi Welfare Society           FBL- Overdraft        B+     5       assigned
Harpyari Devi Welfare Society           FBL- TL               B+     331.5   Assigned
Ifmr Capital Finance Pvt Ltd            PTC Series A1         A +            Withdrawn
                                                              (SO)
Ivrcl Ltd                               TL                    -            1000    Suspended
Ivrcl Ltd                               LT FB Fac             BBB+   8660    Suspended
Ivrcl Ltd                               LT Non-FB Fac         BBB+   3709    Suspended
Kanco Enterprises Ltd                   LT fund based/ TL     D      547.8   Suspended
                                        facility
Kanco Enterprises Ltd                   ST Bk limits          D      35      Assigned
Kohinoor Technologies Pvt Ltd           TL                    B      350     Reaffirmed
M/S Sunil Garg & Co.                    CC                    C      35      Revised from
                                                                                   BB-
M/S Sunil Garg & Co.                    BG                    C      50      Revised from
                                                                                   BB-
M/S Sunil Garg & Co.                    Unallocated           C      15      Revised from
                                                                                   BB-
Mahabir Cold Storage Pvt Ltd            Sanctioned CC         B      70      Assigned
Mahabir Cold Storage Pvt Ltd            Proposed CC           B      80      Assigned
Mahabir Cold Storage Pvt Ltd            Proposed TL           B      40      Assigned
Manraj Jewellers Pvt Ltd                LT FBL - DCC          B      50      Assigned
Manraj Jewellers Pvt Ltd                LT FBL -TL            B      26.4    Assigned
Modrina Auto Enterprises                FBL - CC (CCH)        BB     80      Assigned
Modrina Auto Enterprises                FBL - CC (e-DFS)      BB     60      Assigned
Modrina Auto Enterprises                Proposed FBL - CC     BB     20      Assigned
                                        (e-DFS)
Omax Cotspin Pvt Ltd                    TL                    B+     319     Assigned
Quench Soft Solutions Ltd               CC                    BB+    250     Reaffirmed
R. L Gold Pvt Ltd                       LT FBL - DCC          B      50      Assigned
R. L Gold Pvt Ltd                       LT FBL -TL            B      34.2    Assigned
Rajmal Lakhichand & Sons                LT FBL - DCC          B      150     Assigned
Rajmal Lakhichand Jewellers             LT FBL - DCC          B      1500    Assigned
Pvt Ltd
Rajmal Lakhichand Jewellers             LT FBL -TL            B      132     Assigned
Pvt Ltd
Sauri Breeding Farms Pvt Ltd            FBL                   BB-    80      Reaffirmed
Shreeji Cotton Industries               CC                    B+     50      Assigned
Shreeji Cotton Industries               TL                    B+     2.1     Assigned
Tata Asset Management Ltd               Tata Dynamic Bond Fund AAAmfs -       assigned
Tata Asset Management Ltd               Tata Floater LT Fund  AAAmfs -       Assigned
Tata Power Delhi Distribution           TL                    AA-    4500    Reaffirmed
Ltd
Tata Power Delhi Distribution           FBL                   AA-    1450    Reaffirmed
Ltd
Trivista Steel & Power Pvt Ltd          FBL                   B+     136.5   Revised from
                                                                                   BB-
Trivista Steel & Power Pvt Ltd          Unallocated           B+     12      Revised from
                                                                                   BB-
Vishwanath Paper & Boards Ltd           FBL                   C      249.5   Revised from
                                                                                   D
--------------------------------------------------------------------------------------------
$: 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@thomsonreuters.com)
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