ICRA ratings for Indian debt instruments-Nov 26

Nov 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 23, 2012.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Arch Pharmalabs Ltd CP/ST Debt programme A1 2500 Withdrawn
Balaji Iron And Steel ST, non-FBL A4 50 Reaffirmed
Industries Pvt Ltd
Coral Gold Tiles Pvt Ltd BG A4 30 assigned
Core Fab Projects Pvt Ltd BG ICRA]A4 45 Reaffirmed
Core Fab Projects Pvt Ltd Construction ICRA]A4 1.1 Reaffirmed
Equipment Loan
Country Colonizers Pvt Ltd NFBL A4 536 Suspended
Nezone Strips Ltd NFBL - LOC A3 250 Reaffirmed
Nezone Strips Ltd Non-FBL - BG@ A3 30 Reaffirmed
@One way intechangeablity from Bank Guarantee to Letter of Credit limit upto Rs 2.00 crore
Nezone Strips Ltd Non-FBL - Forward A3 8 Reaffirmed
Contract Limit
Nezone Strips Ltd Non-FBL - Proposed A3 2 assigned
Forward Contract Limit
Nezone Tubes Ltd Non-FBL - LOC # A3 190 Reaffirmed
# One way inter-changeability from Fund Based to Letter of Credit limit up to Rs. 10 crore
Nezone Tubes Ltd Non-FBL - BG A3 80 Reaffirmed
Nezone Tubes Ltd Non-FBL - Forward A3 11.4 Reaffirmed
Contract Limit
Enhanced from Rs. 0.79 cr
Opg Business Centre Pvt Ltd Non-FB Fac A4 305 assigned
Perfect Construction Company BG Facility A4 170 Assigned
Perfect Construction Company BG Facility (Proposed) A4 80 assigned
S J Contracts Pvt Ltd Non- FBL A4+ 220 Suspended
Instrument
Snc Power Corporation Pvt Ltd Non-FB Fac A4+ 1560 Revised from
A3
Spa Ceramic Pvt Ltd BG A4 9 Reaffirmed
Enhanced from Rs. 0.55 crore
Tvs Logistics Services Ltd ST loans A1 1000 revised from
A1+
Tvs Logistics Services Ltd CP A1 400 Assigned

LONG TERM RATINGS:
-------------------
Balaji Iron And Steel LT, FB limits BB- 100 Reaffirmed
Industries Pvt Ltd
C-Edge Technologies Ltd LT/ ST, Non FB Fac AA-/ 250 Reaffirmed
A1+
Coral Gold Tiles Pvt Ltd TL BB- 14.9 Assigned
Coral Gold Tiles Pvt Ltd CC BB- 80 Assigned
Core Fab Projects Pvt Ltd CC Fac BB- 85 revised from
BB
Core Fab Projects Pvt Ltd TL BB- 13.5 revised from
BB
Core Fab Projects Pvt Ltd Proposed FB Fac BB- 1.1 revised from
BB
Country Colonizers Pvt Ltd TL B+ 1694 Suspended
Dabur India Ltd NCD AAA 150 Reaffirmed
Fullerton India Credit Co. Ltd FICCL CV Loan Pool AAA 950.1 Reaffirmed
D.A. Feb-12 (SO)
G R Construction TL B+ 248.1 assigned
G R Construction Proposed TL B+ 11.9 assigned
Hi-Con Technocast Pvt Ltd LT FB Fac BB 79.5 Suspended
Imperial Garments Ltd LT FB Fac D 125 Suspended
Imperial Garments Ltd ST, non FB Fac D 34 Suspended
Kerala Financial Corporation TL BB+ 50 assigned
Nehru Place Hotels Ltd Overdraft Fac BBB 1033.6 (revised from
A-
Nehru Place Hotels Ltd TL [ICRBBB 197.5 (revised from
A-
Nehru Place Hotels Ltd CC Limits [ICRBBB 50 (revised from
A-
Nehru Place Hotels Ltd CC/LC/BG [ICRBBB 50 (revised from
A-
Nezone Strips Ltd FBL -TL BBB- 75.1 Reaffirmed
Nezone Strips Ltd FBL - CC# BBB- 550 Reaffirmed
#One way intechangeablity from Fund Based Working Capital (FBWC) limit to Letter of Credit limit
upto 50% of FBWC
Nezone Strips Ltd FBL - Proposed CC BBB- 100 Assigned
Nezone Strips Ltd FBL - Standby Line of BBB- 50 Reaffirmed
Credit*
*Standby Line of Credit can be used as fund based or non-fund based limit as per requirement
Nezone Tubes Ltd FBL - TL BBB- 177.4 Reaffirmed
Enhanced from Rs. 2.93 cr
Nezone Tubes Ltd FBL - CC * BBB- 450 Reaffirmed
Nezone Tubes Ltd Proposed FBL - CC BBB- 250 Assigned
Nezone Tubes Ltd FBL - Stand by Line BBB- 50 Reaffirmed
of Credit ^
^ Stand-by Line of Credit can be used as Fund Based or Non-Fund Based depending on requirement
Oak Constructions & Properties FBL- CC D 1 assigned
(P) Ltd
Oak Constructions & Properties FBL- TL D 98.5 assigned
(P) Ltd
Oak Constructions & Properties Non-FBL- BG D 7.5 assigned
(P) Ltd
Oak Constructions & Properties FBL-Unallocated D 3 assigned
(P) Ltd
Opg Business Centre Pvt Ltd FB Fac BB 120 assigned
Paragon Industries Ltd TL D 210.1 (downgraded
from
BBB-)
(Revised from Rs. 12.55 Crore)
Paragon Industries Ltd FB Fac D 220 (downgraded
from
BBB-)
( Revised from Rs. 22.44 Crore)
Paragon Industries Ltd Non FB Fac D 35* Assigned
*Within the sanctioned fund based facilities
Perfect Construction Company CC Facility BB+ 85 Assigned
Perfect Construction Company CC Facility (Proposed) BB+ 65 Assigned
Rockland Hospital Ltd FB Fac BB+ 2671.9 assigned
(enhanced from Rs. 218.90cr)
S J Contracts Pvt Ltd FBL BB+ 50 Suspended
Instrument
Snc Power Corporation Pvt Ltd FB Fac BB+ 320 Revised from
BBB-
Spa Ceramic Pvt Ltd CC Facility B+ 40 Reaffirmed
Enhanced from Rs. 1.00 crore
Spa Ceramic Pvt Ltd TL B+ 40.4 Reaffirmed
Reduced from Rs. 4.14 crore
Tristar Inn Pvt Ltd Long- term, TL BB- 215 Assigned
(SO)
Tvs Logistics Services Ltd LT FB Fac A+ 400 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
rru.data@thomsonreuters.com)