February 3, 2014 / 5:48 AM / 4 years ago

ICRA ratings for Indian debt instruments-Feb 3

Feb 3 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 31, 2014.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
MEDIUM TERM RATINGS:
-------------------
Abhi Engineering Corporation            NFBL-BG               A4+    180     Reaffirmed
Pvt Ltd
(enhanced from Rs.10 crore)
Adigear International                   NFBL                  A4+    240     Suspended
Divya Jyoti Industries Ltd              NFBL                  A4     89      Reaffirmed
(reduced from Rs. 8.96 crore)
Incom Wires And Cables Ltd              NFBL                  A4     30      Assigned
Incom Wires And Cables Ltd              NFBL-proposed         A4     30      Assigned
Nipra Packaging Pvt Ltd                 ST NFBL               A4     27.5    Assigned
Omexo Tiles                             BG                    A4     7.5     Reaffirmed
Pongalur Pioneer Textiles Pvt           Non-FB Fac            A4     125     Assigned
Ltd
Precision Auto Engineers                ILC/FLC               A4     30      Reaffirmed
Saravana Textiles Pvt Ltd               ST non FB Fac         A4     33.2    Reaffirmed
Smile Ceramic                           BG                    A4     5       Reaffirmed
Sudhan Trading Pvt Ltd                  Non-FB Fac            A3     30      Assigned
Supertex Woven Industries               Non FBL - LOC         A4     40      Reaffirmed
Supertex Woven Industries               Non FBL - Sublimit    A4     40      Assigned
                                        LOC - BG
Taurus Flexibles Pvt. Ltd               WC                    A4     11      Suspended
Tex-Styles International Pvt.           ST FBL (PCL)          A4     35      Reaffirmed
Ltd.
(earlier Rs. 3.00 crore)
Tex-Styles International Pvt.           ST FBL (FBD)          A4     25      Reaffirmed
Ltd.
(earlier Rs. 1.00 crore)
Tex-Styles International Pvt.           ST Non FBL (LC)       A4     7.5     Reaffirmed
Ltd.

LONG TERM RATINGS:
-------------------
20 Microns Nano Minerals Ltd            CC                    BB+    36.5    Assigned
20 Microns Nano Minerals Ltd            TL                    BB+    63.3    Assigned
Abhi Engineering Corporation            FBL - CC Limits       BB+    30      Reaffirmed
Pvt Ltd
Adigear International                   FB Fac                BB+    1770    Suspended
Advantage Computers India Pvt           Bk Fac                B-     100     Suspended
Ltd
Ansaldocaldaie Gb Engineering           LT loan facility      D      180     Assigned
Pvt Ltd
Ansaldocaldaie Gb Engineering           LT fund based facility D      20      Assigned
Pvt Ltd
Antique Cottex Pvt Ltd                  CC                    B+     75      Reaffirmed
(increased from 6.00)
Antique Cottex Pvt Ltd                  TL                    B+     6.8     Reaffirmed
(reduced from 1.00)
Bhopal Motors Pvt Ltd                   FB Fac                BB-    200     Assigned
Divya Jyoti Industries Ltd              FBL                   BB-    322     Reaffirmed
Divya Jyoti Industries Ltd              TL                    BB-    34.4    Reaffirmed
(reduced from Rs. 5.80 crore)
Divya Jyoti Industries Ltd              Unallocated Bk limits BB- /  48.9    Reaffirmed
                                                              A4
(increased from Rs. 2.47 crore)
Durrung Ispat Pvt Ltd                   FB Fac                BB-    150     Suspended
Gf Toll Road Pvt Ltd                    LT FBL                BB+    5840    Revised from
                                                                                   BBB-
Incom Wires And Cables Ltd              FBL                   B+     30      Assigned
Incom Wires And Cables Ltd              FBL- Proposed         B+     30      Assigned
Incom Wires And Cables Ltd              TL-Proposed           B+     60      Assigned
Jabalpur Hospital & Research            Bk Fac                B      90      Suspended
Centre Pvt Ltd
Mahindra Trucks & Buses Ltd             TL                    A      2500    Reaffirmed
(reduced from Rs. 500.00 crore)
Mahindra Trucks & Buses Ltd             LT, FB limits         A      1000    Reaffirmed
(reduced from Rs. 150.00 crore)
Mehadia Sales Trade Corporation         fund based and non-   B+ /   250     Suspended
                                        fund based Bk Fac     A4
Nipra Packaging Pvt Ltd                 LT FBL                B-     100     Assigned
Nipra Packaging Pvt Ltd                 Unallocated Amount    B- /   7.5     Assigned
                                                              A4
Omexo Tiles                             CC Limit              B+     20      upgraded
                                                                                   from B
Omexo Tiles                             TL                    B+     40.5    upgraded
                                                                                   from B
Pba Infrastructure Ltd                  LT FB Fac             D      650     Suspended
Pba Infrastructure Ltd                  LT non-FB Fac         D      2500    Suspended
Pongalur Pioneer Textiles Pvt           TL Fac                B-     117.5   Assigned
Ltd
Pongalur Pioneer Textiles Pvt           FB Fac                B-     57.5    Assigned
Ltd
Precision Auto Engineers                CC Fac                BB-    120     Revised from
                                                                                   B+
Precision Auto Engineers                TL                    BB-    20      Revised from
                                                                                   B+
Precision Auto Engineers                BG                    BB-    20      Revised from
                                                                                   B+
Priyanka Gems                           FBL                   B+     544.1   Suspended
Saravana Textiles Pvt Ltd               TL Fac                B+     61.5    Downgraded
                                                                                   from
                                                                                   BB-
(Revised from Rs. 8.00 Crore)
Saravana Textiles Pvt Ltd               LT FB Fac             B+     75*     Downgraded
                                                                                   from
                                                                                   BB-
*50% both ways interchangeability between CC and LC Limits
Saravana Textiles Pvt Ltd               LT proposed FB Fac    B+     18.5    Assigned
Shakti Murugan Industries               FBL                   B      130     Reaffirmed
Shakti Murugan Industries               Unallocated limits    B /    30      Reaffirmed
                                                              A4
Smile Ceramic                           CC                    B+     40      Reaffirmed
Smile Ceramic                           TL                    B+     40      Reaffirmed
Sree Vinayaka Rice Mill                 FBL                   B      56      Revised from
                                                                                   D
Sree Vinayaka Rice Mill                 Unallocated limits    B /    54      Revised from
                                                              A4             D
Sri Mvr Cotton Oil Mills Pvt            FBL                   B      142.5   Reaffirmed
Ltd
Change in limits from 24.95 CR
Sri Mvr Cotton Oil Mills Pvt            NFBL                  B      0.5     Reaffirmed
Ltd
Sudhan Trading Pvt Ltd                  FB Fac                BBB-   120     Assigned
Sudhan Trading Pvt Ltd                  Unallocated LT Fac    BBB-   50      Assigned
Supertex Woven Industries               FBL - CC limit        BB     90      Reaffirmed
Supertex Woven Industries               FBL - Stand by Line   BB     19.5    Assigned
                                        of Credit
Supertex Woven Industries               United Limits         BB /   29.7    Reaffirmed
                                                              A4
(reduced from Rs. 4.92 crore)
Taurus Flexibles Pvt. Ltd               TL and working        BB-    362.5   Suspended
                                        capital Fac
Tex-Styles International Pvt.           LT FBL (TL)           B      1.2     Reaffirmed
Ltd.
(reduced from Rs.1.13 crore)
Tex-Styles International Pvt.           Untied Limits         B /    10.6    Reaffirmed
Ltd.                                                          A4
(earlier Rs. 2.05 crore)
Xmold Polymers Pvt Ltd                  LT                    B+     20.2    Suspended
--------------------------------------------------------------------------------------------
$: 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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