ICRA ratings for Indian debt instruments-Jan 31

Thu Jan 31, 2013 11:17am IST

Jan 31 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 30, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                           (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Bait Al Tamur                           ST NFBL               A4+    110     Reaffirmed
(Earlier Rs. 5.00 Crore)
Biocon Ltd                              Fund based            A1+    2030    Reaffirmed
                                        (inter-changeable) Fac
Coimbatore Marine College               B. E. Marine          ICRA Grade 1 -       Assigned
                                        Engineering
Coimbatore Marine College               B.Sc. Nautical ScienceICRA Grade 1 -       Assigned
Coimbatore Marine College               Graduate Marine       ICRA Grade 1 -       Assigned
                                        Engineering
Epicenter Technologies Pvt Ltd          ST, FB Fac            A4     42.5    Upgraded from
                                                                                   D
Gs Developers & Contractors             Non-FB Fac            A4     550     Downgraded
Pvt Ltd                                                                           from A4+
Gujarat Persalts Pvt Ltd                ST NFBL               A4     5       Suspended
Indian Maritime University              Indian Maritime       ICRA Grade 1 -       Assigned
(Mumbai Campus)                         University Mumbai
                                        Campus
Kemco Corporation                       ST BG*                A4     50      Assigned
*Maximum permissible withdrawal limit for Cash Credit and Bank Guarantee facilities is Rs. 9.25
crore
Kemco Corporation                       ST LOC                A4     65      Assigned
Mangalore Marine College                B.E Marine EngineeringICRA Grade 3 -       Assigned
Mangalore Marine College                Graduate Marine       ICRA Grade 3 -       Assigned
                                        Engineering
Mantra Packaging Pvt. Ltd.              ST NFBL               A4     20      Reaffirmed
Muthoot Vehicle And Asset               ST Bk limits          A3+    900*    Assigned
Finance Ltd
* Rs. 90.00 crore bank limits are interchangeable between long term and short term, subject to
total utilization not exceeding Rs. 130.00 crore
Nedcommodities India Pvt Ltd            ST FBL                A3     750     Upgraded from
                                                                                   A4+
enhanced from 55.0 cr
Nuetech Solar Systems Pvt Ltd           Off-grid solar        SP 1B        -       Assigned
                                        projects
Rockman Industries Ltd                  Working Capital Fac   A1+    650     Reaffirmed
                                        (Fund Based)
Rockman Industries Ltd                  Working Capital Fac   A1+    200     Reaffirmed
                                        (Non-Fund Based)
Roop Technology Pvt. Ltd.               ST NFBL               A4     230     Reaffirmed
Samundra Institute Of Maritime          Engine Room Simulator ICRA Grade 1 -       Assigned
Studies                                 - Operational
                                        Level(ERSO)
Samundra Institute Of Maritime          Engine Room Simulator ICRA Grade 1 -       Assigned
Studies                                 - Management
                                        Level(ERSM)
Samundra Institute Of Maritime          Oil Tanker            ICRA Grade 1 -       Assigned
Studies                                 Familiarization
                                        Course(OTFC)
Samundra Institute Of Maritime          Chemical Tanker       ICRA Grade 1 -       Assigned
Studies                                 Familiarization
                                        Course(CTFC)
Samundra Institute Of Maritime          One-year Diploma in   ICRA Grade 1 -       Assigned
Studies                                 Nautical Science (DNS)
Samundra Institute Of Maritime          One-year Graduate     ICRA Grade 1 -       Assigned
Studies                                 Marine Engineering
                                        (GME)
Samundra Institute Of Maritime          B. Tech Marine        ICRA Grade 1 -       Assigned
Studies                                 Engineering
Samundra Institute Of Maritime          Fire Prevention and   ICRA Grade 1 -       Assigned
Studies                                 Fire Fighting Course
                                        (FPFF)
Samundra Institute Of Maritime          Proficiency in        ICRA Grade 1 -       Assigned
Studies                                 Survival Techniques
                                        (PST)
Samundra Institute Of Maritime          Personal Safety and   ICRA Grade 1 -       Assigned
Studies                                 Social Responsibility
                                        (PSSR)
Samundra Institute Of Maritime          Elementary First Aid  ICRA Grade 1 -       Assigned
Studies                                 (EFA)
Samundra Institute Of Maritime          Gas Tanker            ICRA Grade 1 -       Assigned
Studies                                 Familiarization
                                        Course (GTFC)
Samundra Institute Of Maritime          Free Fall Life Boat   ICRA Grade 1 -       Assigned
Studies                                 (FFLB)
Samundra Institute Of Maritime          Specialised Tanker    ICRA Grade 1 -       Assigned
Studies                                 Programme in Chemical
                                        Tanker Operations (CHEMCO)
Samundra Institute Of Maritime          Specialised Tanker    ICRA Grade 1 -       Assigned
Studies                                 Programme in Oil
                                        Tanker Operations (TASCO)
Samundra Institute Of Maritime          Specialised Tanker    ICRA Grade 1 -       Assigned
Studies                                 Programme in Gas
                                        Tanker Operations (GASCO)
Samundra Institute Of Maritime          Advanced Fire         ICRA Grade 1 -       Assigned
Studies                                 Fighting Course (AFF)
Samundra Institute Of Maritime          LPG Tanker Cargo and  ICRA Grade 1 -       Assigned
Studies                                 Ballast Handling
                                        Simulator (Operational)
Samundra Institute Of Maritime          LPG Tanker Cargo and  ICRA Grade 1 -       Assigned
Studies                                 Ballast Handling
                                        Simulator (Management)
Samundra Institute Of Maritime          Electro-Technical     ICRA Grade 1 -       Assigned
Studies                                 Officers Course
Samundra Institute Of Maritime          Security Officer's    ICRA Grade 1 -       Assigned
Studies                                 Course
Samundra Institute Of Maritime          Refresher Training    ICRA Grade 1 -       Assigned
Studies                                 for FPFF
Samundra Institute Of Maritime          Refresher Training    ICRA Grade 1 -       Assigned
Studies                                 for PST
Samundra Institute Of Maritime          Refresher Training    ICRA Grade 1 -       Assigned
Studies                                 for AFF
Samundra Institute Of Maritime          Electronic Chart      ICRA Grade 1 -       Assigned
Studies                                 Display Information
                                        Simulator Course as per IMO Moptionally convertible
debentureel Course 1.27 (Re
Sea Scan Maritime Foundation            Sea Scan Maritime     Grade 2      -       Assigned
                                        Foundation
Shakti Polyweave Pvt Ltd                ST NFBL               A4     93.1    Suspended
Shri Jagdamba Polymers Ltd              ST NFBL               A4     60      Suspended
Sun Tech Industries                     off-grid solar        SP 3C        -       Assigned
                                        projects
Tamil Nadu Maritime Academy             General Purpose       Grade 3      -       Assigned
                                        Rating Course
Tamil Nadu Maritime Academy             Personal Survival     Grade 3      -       Assigned
                                        Technique
Tamil Nadu Maritime Academy             Elementary First Aid  Grade 3      -       Assigned
Tamil Nadu Maritime Academy             Personal Safety &     Grade 3      -       Assigned
                                        Social
                                        Responsibilities
Tamil Nadu Maritime Academy             Fire Prevention &     Grade 3      -       Assigned
                                        Fire Fighting
Tamil Nadu Maritime Academy             Oil Tanker            Grade 3      -       Assigned
                                        Familiarization
Torp Systems Pvt Ltd                    off-grid solar        SP 3B        -       Assigned
                                        projects
Unimed Health Care Pvt Ltd              Non Fund based Bk Fac A3+    20      Upgraded from
                                                                                   A3

LONG TERM RATINGS:
-------------------
Bait Al Tamur                           LT FBL                BB+    225     Reaffirmed
(Earlier Rs. 16.00 Crore)
Biocon Ltd                              FB Fac                AA+    200     Reaffirmed
Biocon Ltd                              Non-FB Fac            AA+    270     Reaffirmed
Dharmanandan Diamonds Pvt Ltd           FBL                   BBB+   8500    Upgraded from
                                                              / A2           BBB
                                                                                   / A3+
(Enhanced from Rs 650 crore)
Epicenter Technologies Pvt Ltd          LT, FB Fac            B      57.5    Upgraded from
                                                                                   D
Enhanced to 10.00 crore
Gruh Finance Ltd                        Subordinated Debt     AA+    1500    Assigned
                                        Programme
(Rs. 115 crore earlier)
Gs Developers & Contractors             FB Fac                BB     200     Downgraded
Pvt Ltd                                                                            from
 BB+
Gujarat Persalts Pvt Ltd                LT FBL                B+     102.5   Suspended
Kemco Corporation                       LT CC Facility*       B+     50      Assigned
*Maximum permissible withdrawal limit for Cash Credit and Bank Guarantee facilities is Rs. 9.25
crore
Mantra Packaging Pvt. Ltd.              LT FBL                B      50      Downgraded
                                                                                   from B+
Muthoot Vehicle And Asset               LT Bk limits          BBB    1300    Assigned
Finance Ltd
Nakoda India Refinery Pvt Ltd           Bk Fac                BB /   650     Suspended
                                                              A4+
Nedcommodities India Pvt Ltd            LT FBL                BBB-   50      Upgraded from
                                                                                   BB+
New Fashion                             LT Loan               B      46      Assigned
New Fashion                             Proposed limits       B      17.2    Assigned
Raj Cotton Corporation                  CC                    B      150     Assigned
Rana Milk Foods Pvt Ltd                 Bk Fac                B      155     Suspended
Rockman Industries Ltd                  LT Loans              AA     63.02   Reaffirmed
Rockman Industries Ltd                  Working Capital Fac   AA     400     Reaffirmed
                                        (Fund Based)
Roop Technology Pvt. Ltd.               LT FBL                B      70      Downgraded
                                                                                   from B+
Shakti Polyweave Pvt Ltd                LT FBL                BB     223.8   Suspended
Shri Jagdamba Polymers Ltd              LT FBL                BB     190     Suspended
Sree Siddarameshwara Agro               LT FBL                BB-    400     Assigned
Industries
Unimed Health Care Pvt Ltd              FB Bk Fac             BBB    285.7   Upgraded from
                                                                                   BBB-
Unimed Health Care Pvt Ltd              Proposed Bk Fac       BBB    58      Upgraded from
                                                                                   BBB-
Village Financial Services Pvt          LT Bk lines           BB     2000    Withdrawn
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 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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