September 11, 2013 / 5:53 AM / 4 years ago

ICRA ratings for Indian debt instruments-Sep 11

Sep 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 10, 2013.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A.S. Transport Pvt Ltd                  Non-FB Fac            A4+    15      Reaffirmed
A.S. Transport Pvt Ltd                  Proposed non-FB Fac   A4+    5       Reaffirmed
Gmr Energy Ltd                          NFBL                  A4+    13000   Reaffirmed
Jet Granito Pvt Ltd                     ST-NFBL               A4     46.5    Suspended
Lupin Ltd                               ST FBF                A1+    9500    Reaffirmed
Lupin Ltd                               ST NFBF               A1+    3600    Reaffirmed
P. S. Steel Tubes Ltd                   Non-FBL (BG/LOC and   A3     29      Reaffirmed
                                        Credit Exposure Limit)
Sharavathy Conductors Pvt Ltd           NFBL                  A4     756     Reaffirmed
Sri Venkatesh Iron & Alloys             NFBL*                 A4+    22.4    Assigned
(India) Ltd
*Non fund based limit includes BG of Rs 2.00 crore and derivate limit of Rs 0.24 crore
Zetatek Industries Ltd                  LOC                   A4     7.5     Reaffirmed

LONG TERM RATINGS:
-------------------
A.S. Transport Pvt Ltd                  FB Fac                BB+    320     Reaffirmed
A.S. Transport Pvt Ltd                  Proposed FB Fac       BB+    80      Reaffirmed
Amarprakash Developers Pvt Ltd          LT, FB Fac            BB     2150    Assigned
Blackstone Gem & Jewellery              FBL (Export Bills     B+     150     Upgraded from
                                        Discounting)                               B
Cinematica Digitals Pvt Ltd             FBL (TL)              BB     250     Reaffirmed
Emco Energy Ltd                         TL programme          BBB-   26100   Reaffirmed
Gmr Energy Ltd                          TL programme          BB     394.1   Assigned
Gmr Kamalanga Energy Ltd                TL programme          BB     34050   Revised from
                                                                                   BB+
Gmr Kamalanga Energy Ltd                NFBL                  BB     4500    Revised from
                                                                                   BB+
Gmr Power Corporation Ltd               FBL                   BBB-   730     Reaffirmed
Gmr Power Corporation Ltd               NFBL                  BBB-   3287    Reaffirmed
Gmr Power Corporation Ltd               ST loan programme     BBB-   2500    Reaffirmed
Gmr Vemagiri Power Generation           FBL                   BBB-   150     Reaffirmed
Ltd
Gmr Vemagiri Power Generation           NFBL                  BBB-   2700    Reaffirmed
Ltd
Indo-Us Mim Tec Pvt Ltd                 NCD#                  A+     500     Assigned
# the issue is proposed
Jet Granito Pvt Ltd                     LT-FBL - CC           BB-    150     Suspended
Jet Granito Pvt Ltd                     LT-FBL - TL           BB-    148.3   Suspended
Lic Nomura Mutual Fund Asset            LIC Nomura MF Capital AAA    -       Assigned
Management Co. Ltd                      Protection Oriented   mfs(SO)!
                                        Fund - Series 1 & 2
Lupin Ltd                               NCD                   AA+    1000    Reaffirmed
Lupin Ltd                               LT FBF                AA+    1500    Reaffirmed
Lupin Ltd                               LT NFBF               AA+    400     Reaffirmed
P. S. Steel Tubes Ltd                   FBL - TL              BBB-   39.2    Reaffirmed
Reduced from Rs. 9.17 crore
P. S. Steel Tubes Ltd                   FBL - CC              BBB-   280     Reaffirmed
Sharavathy Conductors Pvt Ltd           FBL (proposed)        BB-    44      Revised from
                                                                                   B+
Sri Seetha Rama Raw & Boiled            CC                    B+     48      Assigned
Rice Mill
Sri Seetha Rama Raw & Boiled            Unallocated limits    B+ /   62      Assigned
Rice Mill                                                     A4
Sri Venkatesh Iron & Alloys             FBL - CC              BB     120     Assigned
(India) Ltd
Sri Venkatesh Iron & Alloys             FBL - TL              BB     41.1    Assigned
(India) Ltd
Vitthal Corporation Ltd                 LT, FBL -TL           B-     1700    Suspended
Vitthal Corporation Ltd                 LT, FBL -CC           B-     1300    Suspended
Zetatek Industries Ltd                  CC                    BB     30      Reaffirmed
Zetatek Industries Ltd                  BG                    BB     107.5   Reaffirmed
Zetatek Industries Ltd                  Unallocated           BB     85      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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