ICRA ratings for Indian debt instruments-Feb 15

Feb 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 14, 2013.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Gruh Finance Ltd ST Debt programme A1+ 17000 Assigned
(enhanced from Rs. 500 crore)
Indraprastha Gas Ltd Fund Based ST Limits** A1+ 500 Reaffirmed
**Proposed/unallocated limit
Indraprastha Gas Ltd Non Fund Based ST A1+ 3000 Reaffirmed
Limits
Microtex Energy Pvt Ltd ST- Non Fund based A4 100 Revised
from A4+
Nestor Pharmaceuticals Ltd FB Fac (PC/FBP) A4 375 Reaffirmed
Nestor Pharmaceuticals Ltd Non FB Fac (LC/BG) A4 160 Reaffirmed
Suncorp Lifestyles Ltd ST FBL A4+ 50 Upgraded from
A4
(reduced from 6.45 cr earlier)
Sunjewels International Pvt Ltd ST - FBL A3 70 Reaffirmed
Sunjewels International Pvt Ltd ST - NFBL A3 1.4 Withdrawn
Traditional Gallery Pvt Ltd Non FB Fac A4+ 35 Assigned

LONG TERM RATINGS:
-------------------
Baroda Agro Chemicals Ltd CC BB 25 Assigned
Baroda Agro Chemicals Ltd Working Capital TL BB 20 Assigned
Baroda Agro Chemicals Ltd TL BB 34.4 Assigned
Harish Chand Maina Devi Bk Fac B+ 165.5 Assigned
Memorial Trust Society
Indraprastha Gas Ltd TL* AAA 8500 Reaffirmed
(rupee or foreign currency) * Includes unallocated loans of Rs. 412.50 crore
Kymore Engineering LT FBL BB- 7 Reaffirmed
Kymore Engineering LT Non-FBL BB- 80 Reaffirmed
Microtex Energy Pvt Ltd LT- Fund based BB 284.4 Revised
from BB+
Nestor Pharmaceuticals Ltd FB Fac (CC) B 215 Revised
from B+
P.A.S Cotton Mills Pvt Ltd TL D 164.6 Reaffirmed
P.A.S Cotton Mills Pvt Ltd FB Fac D 50 Reaffirmed
P.A.S Cotton Mills Pvt Ltd Non FB Fac D 17.5 Reaffirmed
Radhe Corporation TL BB- 60 Assigned
Radhe Residency FBL B 80 Assigned
S. R. R. Jewels ST FB Fac D 300 Suspended
Sah Polymers Ltd FB, LT Limits BB+ 48 Reaffirmed
Sah Polymers Ltd TL BB+ 49.8 Reaffirmed
Sah Polymers Ltd Unallocated Limits# BB+ / 12.2 Reaffirmed
CARE A4+
# Unallocated limits are interchangeable between long-term and short-term limits and are
assigned ratings of BB+ (Stable) / A4+
Suncorp Lifestyles Ltd LT FBL BB+ 880 Upgraded from
BB
(enhanced from 55.12 CR earlier)
Suncorp Lifestyles Ltd LT NFBL BB+ 20 Upgraded from
BB(
Techpark Hotels Pvt Ltd FB- Limits* BBB- 1750 Reaffirmed
*includes unallocated limits of Rs. 6.42 crore
Traditional Gallery Pvt Ltd FB Fac BB 60 Assigned
Traditional Gallery Pvt Ltd Proposed FB Fac BB 9.3 Assigned
--------------------------------------------------------------------------------------------
$: 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)