March 7, 2014 / 4:33 AM / 3 years ago

ICRA ratings for Indian debt instruments-Mar 7

Mar 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 6, 2014.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Esquire Machines Pvt Ltd                LOC                   A4     15      Reaffirmed
(Enhanced from Rs. 0.75 crore)
Esquire Machines Pvt Ltd                Letter of Guarantee   A4     5       Reaffirmed
(Reduced from Rs. 0.75 crore)
Modern Laminators Ltd                   Non-fund Based, ST Fac A4+    50      Reaffirmed
(Reduced from Rs. 6.00 crores)
Neha Exports                            FBL- Bill Discounting A4     50      Reaffirmed
Neha Exports                            NFBL- Packing Credit  A4     40      Reaffirmed
PMP Auto Components Pvt Ltd             NFBL                  A2+    878     Reaffirmed
(enhanced from Rs. 40.50 crore)
PMP Auto Components Pvt Ltd             ST - Unallocated      A2+    202.6   Assigned
                                        Limits
Synergy Electric Pvt Ltd                ST FBL                D      53.5    Revised from
                                                                                   A4
Synergy Electric Pvt Ltd                ST NFBL*              D      10      Revised from
                                                                                   A4
* Sub-Limit of long term fund based limits
Toshali Cements Pvt Ltd                 ST NFBL               A4     10      Assigned

LONG TERM RATINGS:
-------------------
E.S.S.M. Educational &                  TL Fac                BB+    65.7    Reaffirmed
Charitable Trust
(reduced from 8.45 CR)
E.S.S.M. Educational &                  FB Fac                BB+    4       Assigned
Charitable Trust
E.S.S.M. Educational &                  Proposed limits       BB+    30.3    Reaffirmed
Charitable Trust
(increased from 1.55 CR)
Esquire Machines Pvt Ltd                TL                    BB     4.5     Reaffirmed
(Reduced from Rs. 1.58 crore)
Esquire Machines Pvt Ltd                CC*                   BB     65      Reaffirmed
(Enhanced from Rs. 4.50 crore) * EPC/FBP/FBD-Rs.3.10 crore (Sublimit of Cash Credit) 
Gurukrupa Cotton & Oil                  CC Limits             B      95      Reaffirmed
Industries
Gurukrupa Cotton & Oil                  TL                    B      3.1     Reaffirmed
Industries
(reduced from Rs 0.50 crore)
KNR Contractors Pvt Ltd                 FBL                   B+     40      Reaffirmed
KNR Contractors Pvt Ltd                 NFBL                  B+     80      Reaffirmed
KNR Contractors Pvt Ltd                 Unallocated           B+     5       Reaffirmed
Litecon Industries Pvt Ltd              CC Fac                B+     50      Reaffirmed
Litecon Industries Pvt Ltd              TL Fac                B+     94.2    Reaffirmed
Modern Laminators Ltd                   TL                    BB+    39.8    Reaffirmed
(Reduced from Rs. 5.00 crore)
Modern Laminators Ltd                   FB, LT Fac            BB+    70      Reaffirmed
Modern Laminators Ltd                   Unallocated Limits    BB+ /  20.2    Reaffirmed
                                                              A4+
Neha Exports                            FBL- CC               B      10      Reaffirmed
Neha Exports                            FBL- Unallocated      B      4       Reaffirmed
                                        Limits
PMP Auto Components Pvt Ltd             TL                    BBB+   234.9   Reaffirmed
(reduced from Rs. 51.25 crore)
PMP Auto Components Pvt Ltd             CC                    BBB+   520     Reaffirmed
(enhanced from Rs. 50.50 crore)
Synergy Electric Pvt Ltd                TL                    D      317     Revised from
                                                                                   B
Synergy Electric Pvt Ltd                LT FBL                D      115.9   Revised from
                                                                                   B
Synergy Electric Pvt Ltd                LT NFBL               D      21.8    Revised from
                                                                                   B
Toshali Cements Pvt Ltd                 FBL                   B      410.2   Revised from
                                                                                   B+
Toshali Cements Pvt Ltd                 LT NFBL               B      20      Revised from
                                                                                   B+
Toshali Cements Pvt Ltd                 Unallocated           B      179.8   Revised from
                                                                                   B+
--------------------------------------------------------------------------------------------
$: 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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