November 14, 2012 / 5:57 AM / 5 years ago

ICRA ratings for Indian debt instruments-Nov 14

Nov 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 12, 2012.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Appeal Kid'S Dream                      FBL                   A4     10      Assigned
International Pvt Ltd
Bharat Silks                            ST FBL                A4     54      Withdrawn
Bharat Silks                            ST non-FBL            A4     17.5    Withdrawn
Chorus Labs Ltd                         NFBL                  A4     25      Reaffirmed
(reduced from 2.85)
Infosys Ltd                             Corporate Governance  CGR1                 Reaffirmed
                                        Practices
Kk Rao Engineering Works Pvt            ST nonfund based Bk   A4     9       Suspended
Ltd                                     Fac
Krk Power Pvt Ltd                       ST non fund based Bk  A4     8       Suspended
                                        Fac
Kudu Knit Process Pvt Ltd               ST NFBL               A4     1       Reaffirmed
Pardes Dehydration Company              Forward Purchase      A4     37.5    Assigned
                                        Contract
Pardes Dehydration Company              FDBN/FDBP/FDBD        A4     37.5    Assigned
Pardes Dehydration Company              Forward Sale Contract A4     2.5     Assigned
Pardes Dehydration Company              BG/Import LC          A4     2.5     Assigned
R.B Cars Pvt Ltd                        BG                    A4     10      Assigned
Sepal Ceramic                           BG                    A4     7       Assigned
Sonal Vyapar Ltd                        Non-FB Fac            A4+    150     Reaffirmed
Spectoms Engineering Pvt Ltd            BP/BD                 A4     2       Assigned
Spectoms Engineering Pvt Ltd            BG                    A4     46.5    Assigned
Spectoms Engineering Pvt Ltd            LOC                   A4     6       Assigned
State Bank Of Patiala                   CDs programme         A1+    150000  Reaffirmed
Taj Gvk Hotels & Resorts Ltd            ST loans              A1+    200     Assigned
Tata Coffee Ltd                         CP                    A1+    400     Reaffirmed
Varun Castings Pvt Ltd                  NFBL                  A4     50      Assigned
Yashashree Tubes Pvt Ltd                ST, FBL               A4     10      Assigned
        
LONG TERM RATINGS:
-------------------    
Unistar Distributors Pvt Ltd            Fund based and NFBL   BB-    71      Suspended
                                                               / A4
Adachi Natural Polymer Pvt Ltd          CC                    B+     51      Assigned
Adachi Natural Polymer Pvt Ltd          TL                    B+     5       Assigned
Appeal Kid'S Dream                      FBL                   B+     80      Assigned
International Pvt Ltd
Bajrang Cotgin Pvt Ltd                  CC                    B-     140     Assigned
Bajrang Cotgin Pvt Ltd                  TL                    B-     8.3     Assigned
Chorus Labs Ltd                         FBL                   C      75      Revised from
                                                                                   B-
(increased from 4.00cr)
Diam Star Jewellery (I) Pvt Ltd         fund based and non FB BB+ /  440     Suspended
                                        Fac                   A4+
Future Auto Wheels Pvt Ltd              FBL                   B+     82.5    Assigned
Ganesh Housing Corporation Ltd          FBL                   BB+    1500    Suspended
Ghodawat Foods International            LT, TL                BB     137.1   Withdrawn
Pvt Ltd
Ghodawat Foods International            LT, CC                BB     260     Reaffirmed
Pvt Ltd
Ghodawat Foods International            Proposed LT Fund Based BB     140     Assigned
Pvt Ltd
Gold Star Diamond Pvt Ltd               working capital Fac   BB+ /  813.6   Suspended
                                                              A4+
Gurutek India Pvt Ltd                   FBL                   B+     50      Assigned
Kk Rao Engineering Works Pvt            LT Bk Fac             BB    101.5   Suspended
Ltd
Krk Power Pvt Ltd                       LT Bk Fac             BB     86      Suspended
Kudu Knit Process Pvt Ltd               LT FBL                BB     108.9   Reaffirmed
M/S Sony Construction                   FBL - CC              B      70      Assigned
N Y Hospitalities And Holdings          proposed TL           B+     250     Withdrawn
Pvt Ltd
Ntl Steels                              FBL- (TL)             D      115     Downgraded
                                                                                   from BB
Ntl Steels                              FBL- (LOC)*           D      46      Downgraded
                                                                                   from BB
* Sub-limit of the Term Loan limit
Pardes Dehydration Company              CC                    BB-    9       Assigned
Pardes Dehydration Company              Packaging Credit      BB-    30      Assigned
Pareena Motors Pvt Ltd                  CC                    BB-    110     Assigned
R.B Cars Pvt Ltd                        CC                    BB     80      Assigned
R.B Cars Pvt Ltd                        TL                    BB     8.3     Assigned
Sahajanand Technologies Pvt Ltd         FBL (CC)              BB+    150     Assigned
Sepal Ceramic                           CC Limit              B+     44      Assigned
Sepal Ceramic                           TL Limits             B+     30.3    Assigned
Shubham Housing Development             LT Bk Limits          BB+    1000    Assigned
Finance Company Pvt Ltd
Sonal Vyapar Ltd                        FB Fac                BB+    85      Reaffirmed
Spectoms Engineering Pvt Ltd            CC                    B+     14      Assigned
State Bank Of Patiala                   Lower Tier II bonds   AAA    7500    Reaffirmed
Sunrise Ginning Pvt Ltd                 CC Limit              B      105     Assigned
Taj Gvk Hotels & Resorts Ltd            FB Fac                AA-    100     Assigned
Tata Coffee Ltd                         NCD portion of a PCD  AA     310.4   Reaffirmed
                                        issue
Tata Coffee Ltd                         Fund Based Bk Fac     AA /   650     Reaffirmed
                                                              A1+
The New Testament Church Of             LT FB Fac             B-     182.5   Assigned
Christ Society
( enhanced from Rs. 15.00 crore)
Varun Castings Pvt Ltd                  FBL                   B+     40      Assigned
Wizertech Informatics Pvt Ltd           FBL - CC (proposed)   BB     100     Assigned
Yashashree Tubes Pvt Ltd                LT, FBL - CC          B      32      Assigned
Yashashree Tubes Pvt Ltd                LT, FBL - TL          B      55      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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