ICRA ratings for Indian debt instruments-May 21

Tue May 21, 2013 12:04pm IST

May 21 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 20, 2013.

COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                           (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Bharat Forge Ltd                        Non FBL               A1+    4000    Reaffirmed
Enhanced from Rs 325 Crore
Bharat Forge Ltd                        CP                    A1+    500     Reaffirmed
Reduced from Rs 100 Crore
Intec Capital Ltd                       CP Programme          A1+    100     Assigned
                                                              (SO)
Intec Capital Ltd                       CP Programme          A1+    50      Assigned
                                                              (SO)
Kenzo International                     Non-FBL               A2     20      Reaffirmed
Network 18 Media & Investments          CP Programme          A1+    1000    Assigned
Ltd                                                           (SO)
Okaya Power Ltd                         Non-FBL               A3     190     upgraded from
                                                                                   A4+
Rajaram Mills Pvt Ltd                   Non - FB Fac          A4     20      Reaffirmed
Rhc Holding Pvt Ltd                     ST Debt/NCD Programme A1+    21000   Reaffirmed
                                                              (SO)
Enhanced from Rs. 170.0 crore
Shasun Pharmaceuticals Ltd              Non FBL               A3     1500    Reaffirmed
Enhanced from Rs. 100.00 crore
Shree Bhawani Lumbers                   ST non FB Bk limits   A4     75      Suspended
Sri Balaji Traders                      ST non-FB Fac         A4     30      Reaffirmed
Standard Conduits Pvt Ltd               ST, LOC limits        A3+    1900    Reaffirmed
Enhanced from Rs. 170.0 crore
Standard Conduits Pvt Ltd               ST, Shipping          A3+    100     Reaffirmed
                                        Guarantee limits
Standard Conduits Pvt Ltd               ST, Buyer's Credit    A3+    1200    Reaffirmed
                                        sub-limits
Enhanced from Rs. 170.0 crore*/ * Rs.120.0 crore buyer's Credit is sub-limit of Rs. 190.0 crore
Letter of Credit limit
Sunvik Steels Pvt Ltd                   Non-FBL               A4     80      Reaffirmed
Unique Forgings (India) Pvt Ltd         Stand By Line of      A3     5       Assigned
                                        Credit
Veekay Prints Pvt Ltd                   ST, Non Fund Based    A4     34.4*   Assigned
                                        -LOC
*Sub-limit within fund based limits
MEDIUM TERM RATINGS:
-------------------
Network 18 Media & Investments          Fixed Deposits        MA-          -       Assigned
Ltd                                     Programme

LONG TERM RATINGS:
-------------------
Bharat Forge Ltd                        NCD                   AA-    3500    Reaffirmed
Bharat Forge Ltd                        NCD                   AA-    2500    Reaffirmed
Bharat Forge Ltd                        NCD                   AA-    1760    Reaffirmed
Reduced from Rs 300 Crore
Bharat Forge Ltd                        LT Loan               AA-    350     Reaffirmed
Reduced from Rs 90 Crore
Bharat Forge Ltd                        FBL                   AA-    12000   Reaffirmed
Enhanced from Rs 1,000 Crore
Bussan Auto Finance India Pvt           LT loans              A+     800     Assigned
Ltd
Cholamandalam Investment And            NCDs                  AA     15000   Assigned
Finance Co. Ltd
Cholamandalam Investment And            TL from Bks           AA     2500    Assigned
Finance Co. Ltd
Dashmesh Motors                         FB Fac                B      51.7    Assigned
Dhingra Jardine Infrastructure          TL                    B-     420     Assigned
Pvt Ltd
Hotel Airport Kohinoor Pvt Ltd          TL                    B      500     Revised from
                                                                                   BB
(enhanced from Rs. 35 crore)
Indian Medical Trust                    BG                    BBB-   112     Reaffirmed
Kenzo International                     FBL                   BBB    92      Reaffirmed
Khattar Shipyard                        Bk Fac                B/     55      Suspended
                                                              A4
Kohinoor Ctnl Infrastructure            TL                    D      9360    Revised from
Company Pvt Ltd                                                                    B+
Kohinoor Education Trust                TL                    D      600     Revised from
                                                                                   BB-
Kohinoor Education Trust                Non Fund Based        D      10      Revised from
                                                                                   A4
Kohinoor Elite Hotels Pvt Ltd           TL                    D      220     Revised from
                                                                                   BB-
Kohinoor Elite Hotels Pvt Ltd           Non Fund Based        D      10      Revised from
                                                                                   A4
Kohinoor Hospitals Pvt Ltd              TL                    D      564.1   Revised from
                                                                                   BB
Kohinoor Hospitals Pvt Ltd              Non Fund Based (BG)   D      10      Revised from
                                                                                   BB
Kohinoor Planet Constructions           TL                    D      2800    Revised from
Pvt Ltd                                                                            BB+
Kohinoor Planet Constructions           Non Fund Based        D      10      Revised from
Pvt Ltd                                                                            A4+
Neelkanth Town Planners Pvt Ltd         TL                    BB     43      Reaffirmed
Neelkanth Town Planners Pvt Ltd         Unallocated Limits    BB     482     Reaffirmed
Network 18 Media & Investments          Bk Fac                BBB+/  1000    Assigned
Ltd
Niit Institute Of Information           LT TL                 A      750     Assigned
Technology
Okaya Power Ltd                         FBL                   BBB-   380     upgraded from
                                                                                   BB+
Pyrotech Workspace Solutions            FBL                   BB     50      Assigned
Pvt Ltd
Pyrotech Workspace Solutions            NFBL                  BB     120     Assigned
Pvt Ltd
Pyrotech Workspace Solutions            Unallocated           BB     10      Assigned
Pvt Ltd
Rajaram Mills Pvt Ltd                   FB Fac                B-     50      Reaffirmed
Rajaram Mills Pvt Ltd                   Non - FB Fac          B-     5       Reaffirmed
Shasun Pharmaceuticals Ltd              Fund based            BBB-   2300    Reaffirmed
Enhanced from Rs. 185.00 crore
Shasun Pharmaceuticals Ltd              TL                    BBB-   2398.3  Reaffirmed
Enhanced from Rs. 65.70 crore
Shree Bhawani Lumbers                   LT FB limits          B+     7.5     Suspended
Shree Ram Pulse Mills                   CC                    B      50      Assigned
Siddhivinayak Developers                LT FB Fac             BB     105     Suspended
Silpa Mega Projects Pvt Ltd             LT fund based and     D      370     Assigned
                                        non- fund based
Sree Giridhari Raw And Boiled           FBL                   B+     57.5    Assigned
Rice Mill
Sree Giridhari Raw And Boiled           Unallocated limits    B+     22.5    Assigned
Rice Mill
Sri Balaji Traders                      LT FB Fac             B+     60      Reaffirmed
Sri P.V.N Raw & Boiled Rice             FBL                   B+     77.5    Assigned
Mill
Sri P.V.N Raw & Boiled Rice             Unallocated limits    B+/    72.5    Assigned
Mill                                                          A4
Standard Conduits Pvt Ltd               LT, FB limits         BBB    50      Reaffirmed
Sunvik Steels Pvt Ltd                   FBL                   BB-    235     Reaffirmed
Sunvik Steels Pvt Ltd                   TL                    BB-    497.2   Reaffirmed
Unique Forgings (India) Pvt Ltd         CC                    BBB-   70      Assigned
Unique Forgings (India) Pvt Ltd         TL                    BBB-   38.7    Assigned
Veekay Prints Pvt Ltd                   LT, FBL - TL          BB-    152.7   Reaffirmed
(enhanced from Rs. 10.85 crore)
Veekay Prints Pvt Ltd                   LT, FBL - CC          BB-    35      Reaffirmed
Yak Granite Industries Pvt Ltd          FBL                   D      60      Reaffirmed
Yak Granite Industries Pvt Ltd          TL                    D      33.5    Reaffirmed
Yak Granite Industries Pvt Ltd          Proposed Fac          D      24      Reaffirmed
Yak Granite Industries Pvt Ltd          NFBL                  D      2.5     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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