ICRA ratings for Indian debt instruments-Feb 20

Feb 20 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 19, 2013.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
20 Microns Ltd LOC A4+ 270 Assigned
20 Microns Ltd BG A4+ 20 Assigned
20 Microns Ltd Credit Exposure Limit A4+ 24 Assigned
Ashnoor Textile Mills Ltd ST fund based Bk Fac A4 160 Suspended
Gurbaksh Singh B.A. Builders Non-FBL A4 160 Assigned
Pvt Ltd
Gurbaksh Singh B.A. Builders Unallocated Limits A4 3.4 Assigned
Pvt Ltd
Kachchh Veneers Pvt Ltd LOC* A4 120 Assigned
*Includes cash credit facility of Rs 2.00 crore which have been rated B+
M/S Craftex India FB Fac A4 37.5 Reaffirmed
Steelfur System Pvt Ltd BG A4 5 Assigned

LONG TERM RATINGS:
-------------------
20 Microns Ltd CC BB+ 510 Assigned
20 Microns Ltd Export Packing Credit* BB+ 50 Assigned
*Sub-Limit of Cash Credit
20 Microns Ltd Corporate Loan BB+ 51.8 assigned
20 Microns Ltd TL BB+ 881.7 Assigned
Abs Mercantiles (P) Ltd Bk Fac BB / 155 Suspended
A4
Gurbaksh Singh B.A. Builders TL BB- 16.6 Assigned
Pvt Ltd
Gurbaksh Singh B.A. Builders FBL BB- 120 Assigned
Pvt Ltd
M/S Craftex India FB Fac BB- 17.5 Reaffirmed
M/S Craftex India Proposed Bk Fac BB- 1.1 Reaffirmed
Morgan Stanley Gilt Fund Morgan Stanley Gilt AAAmfs - Assigned
Fund
Next Wave India Bk Fac BBB- 80 Assigned
Samal Auto (India) Pvt Ltd fund based Bk Fac BB- 160 Suspended
Sri Bhagwan Mahaveer Jain TL B 298.7 Upgraded from
Educational & Cultural Society B-
Steelfur System Pvt Ltd CC B+ 25 Assigned
Steelfur System Pvt Ltd TL B+ 21 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wd -Rating Stands Withdrawn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)