ICRA ratings for Indian debt instruments-Feb 15

Fri Feb 15, 2013 10:29am IST

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Sunjewels International Pvt Ltd         ST - NFBL             A3     1.4     Withdrawn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)
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