ICRA ratings for Indian debt instruments-Feb 18

Mon Feb 18, 2013 12:47pm IST

Feb 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 15, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Coastal Energy Pvt Ltd                  NFBL                  A3     8505    Reaffirmed
Deepak Builders                         Non-FB Fac            A4     300     Assigned
Deepak Singal Engineers &               Non-FB Fac            A4     80      Assigned
Builders Pvt Ltd
Diamond Seafood Exports                 ST - FB Fac           A4+    121.5*  Upgraded from
                                                                                   A4
*enhanced from revised amount of Rs.9.75 crore
Diamond Seafood Exports                 ST - Non-FB Fac       A4+    11.1    Assigned
Edhayam Frozen Foods Pvt Ltd            ST - FB Fac           A4+    288*    Upgraded from
                                                                                   A4
*enhanced from revised amount of Rs.25.20 crore
Eros For Sanitarywares                  BG                    A4     13.5    Assigned
Eros For Sanitarywares                  LOC                   A4     10      Assigned
Eros For Sanitarywares                  CEL                   A4     5.3     Assigned
Excel Foods Pvt Ltd                     ST NFBL               A4     5       Assigned
Icon Cables Ltd                         Non-FBL               A4     17      Assigned
Kadalkanny Frozen Foods                 ST - FB Fac           A4+    240*    Upgraded from
                                                                                   A4
*enhanced from revised amount of Rs.22.50 crore
Kadalkanny Frozen Foods                 ST - Non-FB Fac       A4+    14.4    Assigned
Kapoor Industries Ltd                   FBL                   A2     234     Reaffirmed
Kapoor Industries Ltd                   Non-FBL               A2     8.5     Reaffirmed
KGS Nelsun Paper Mill Ltd               Non-Fund Based Bk Fac A4     60      Assigned
KGS Nelsun Paper Mill Ltd               Proposed Fac          A4     600     Assigned
Konkan Speciality Poly                  NFBL                  A4     102.5   Reaffirmed
Products Pvt Ltd
Mangalam Alloys Ltd                     LC/BG Limits          A4+    110     Downgraded
                                                                                   from A3
Markasia Textiles                       ST NFBL               A4     100     Assigned
Marvel Vinyls Ltd                       NFBL                  A4     280     Reaffirmed
(enhanced from Rs 22.00 crore earlier)
Metro Ortem Ltd                         Packing Credit        A3+    3       Reaffirmed
Metro Ortem Ltd                         NFBL                  A3+    125     Reaffirmed
Metro Tyres Ltd                         NFBL                  A3+    600     Reaffirmed
MGF Metro Mall Pvt Ltd                  Non-FB Fac            A4     200     Reaffirmed
Navjyot International Trading           ST NFBL* (BG/LC)      A4     35      Reaffirmed
Pvt Ltd
* Sub-limit of fund based limits; total exposure not to exceed Rs. 22.00 crore
Navsemi Technologies Pvt Ltd            off-grid solar        SP 3C        -       Assigned
                                        projects
Oasis Enterprises Pvt Ltd               Non FB Fac            A4     40      Reaffirmed
Steckbeck Jewelry Pvt Ltd               Post-shipment Credit  A4+    70      Reaffirmed
Steckbeck Jewelry Pvt Ltd               Pre-shipment Credit*  A4+    14      Reaffirmed
*Sub limit within Post Shipment Export Credit
Theva & Co.                             ST - FB Fac           A4+    348*    Upgraded from
                                                                                   A4
*enhanced from revised amount of Rs.29.40 crore
Unicure Remedies Pvt Ltd                BG                    A4     2.5     Assigned
Unicure Remedies Pvt Ltd                LOC                   A4     1.5     Assigned
Vriksh Transworld Holdings Ltd          Non-FB Fac            A4     151     Reaffirmed

LONG TERM RATINGS:
-------------------
Coastal Energy Pvt Ltd                  FBL                   BBB-   2439    Reaffirmed
Coastal Energy Pvt Ltd                  Unallocated Limits    BBB-   1       Reaffirmed
                                                              / A3
Darbari Lal Foundation                  FBL                   BB     108     Assigned
Educational Society
Deepak Builders                         FB Fac                BB-    300     Assigned
Deepak Singal Engineers &               FB Fac                B+     80      Assigned
Builders Pvt Ltd
Diamond Seafood Exports                 LT - TL               BB     9.5     Assigned
Edhayam Frozen Foods Pvt Ltd            LT - TL               BB     30      Assigned
Epicenter Technologies Pvt Ltd          Fund based Bk Fac (TL) D      90      Withdrawn
Eros For Sanitarywares                  Working Capital Limits BB     70      Assigned
Eros For Sanitarywares                  TL                    BB     156.9   Assigned
Excel Foods Pvt Ltd                     LT FBL                BB-    110     Assigned
Gian Sagar Educational &                TL                    BB     1210    Reaffirmed
Charitable Trust
Gian Sagar Educational &                BG                    BB     90      Reaffirmed
Charitable Trust
Gian Sagar Educational &                Overdraft             BB     50      Reaffirmed
Charitable Trust
Icon Cables Ltd                         FBL                   B+     48      Assigned
IFMR Capital Finance Pvt Ltd            PTC Series A3         B+     21.8    Assigned
                                                              (SO)!
! indicates that the rating is conditional
IFMR Capital Finance Pvt Ltd            PTC Series A2         BBB    16.4    Assigned
                                                              (SO)!
! indicates that the rating is conditional
IFMR Capital Finance Pvt Ltd            PTC Series A1         BBB+   234.8   Assigned
                                                              (SO)!
! indicates that the rating is conditional
Inder Mohan Singh Contractors           FB Fac                B+     60      Assigned
Kadalkanny Frozen Foods                 LT - TL               BB     31.7    Assigned
Kapoor Industries Ltd                   TL                    BBB+   207.5   upgraded from
                                                                                   BBB
KGS Nelsun Paper Mill Ltd               TL                    B+     170     Assigned
KGS Nelsun Paper Mill Ltd               Fund Based Bk Fac     B+     170     Assigned
Khaya Solar Projects Pvt Ltd            TL                    B-     542     Assigned
Konkan Speciality Poly                  CC                    BB-   118     Reaffirmed
Products Pvt Ltd
(Enhanced from Rs. 11.00 crore)
Konkan Speciality Poly                  TL                    BB-   85.5    Reaffirmed
Products Pvt Ltd
Konkan Speciality Poly                  Unallocated           BB-   11.5    Reaffirmed
Products Pvt Ltd                                              / A4
Mangalam Alloys Ltd                     Working Capital Limits BB+    320     Downgraded
                                                                                   from
                                                                                   BBB-
(enhanced from 18.5cr)
Mangalam Alloys Ltd                     TL                    BB+    110     Downgraded
                                                                                   from
                                                                                   BBB-
Marvel Vinyls Ltd                       TL                    BB     141.7   Reaffirmed
(enhanced from Rs 9.57 crore)
Marvel Vinyls Ltd                       FBL                   BB     220     Reaffirmed
(enhanced from Rs 15.35 crore)
Metro Ortem Ltd                         CC                    BBB    72      Upgraded from
                                                                                   BBB-
Metro Ortem Ltd                         Unallocated           BBB    50      Upgraded from
                                                                                   BBB-
Metro Tyres Ltd                         CC                    BBB    1000    Upgraded from
                                                                                   BBB-
Metro Tyres Ltd                         Unallocated           BBB    150     Upgraded from
                                                                                   BBB-
Mmc Technica Pvt Ltd                    Fund Based- TL        B+     150     Assigned
Modern Machinery Store                  FBL-CC                B      77      Assigned
Modern Machinery Store                  FBL-TL                B      15      Assigned
Modern Machinery Store                  NFBL- BG*             B      3       Assigned
*BG:Bank Guarantee
Navjyot International Trading           LT/ ST FBL ( EPC/PCFC) BB-    220     Revised from
Pvt Ltd                                                                            BB
Neumann Components Pvt Ltd              CC                    BB+    65      Reaffirmed
Neumann Components Pvt Ltd              TL                    BB+    85      Reaffirmed
Oasis Enterprises Pvt Ltd               CC                    BB     75      Reaffirmed
Oasis Enterprises Pvt Ltd               Unallocated Bk Fac    BB     35      Reaffirmed
Rosy Blue (India) Pvt Ltd               TL                    BBB+   167     Reaffirmed
Rosy Blue (India) Pvt Ltd               LT FBL                BBB+   11600   Reaffirmed
Rosy Blue (India) Pvt Ltd               LT NFBL               BBB+   250     Reaffirmed
Rosy Blue (India) Pvt Ltd               LT Stand By Line of   BBB+   1000    Reaffirmed
                                        Credit
Steckbeck Jewelry Pvt Ltd               Un-allocated amount   BB+/   50      Reaffirmed
                                                              A4+
Theva & Co.                             LT - TL               BB     57.5*   Reaffirmed
*enhanced from Rs.0.20 crore
Unicure Remedies Pvt Ltd                CC                    BB-    40      Assigned
Unicure Remedies Pvt Ltd                TL                    BB-    52.9    Assigned
Vriksh Transworld Holdings Ltd          FB Fac                BB-    49      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)
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