October 1, 2014 / 4:48 AM / 3 years ago

ICRA ratings for Indian debt instruments-Oct 1

Oct 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 30, 2014.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Comstar Automotive                      ST - FB Fac           A1     600     Upgraded
Technologies Pvt Ltd                                                               from
(revised from 40 CR)
Comstar Automotive                      ST -Fund / Non-       A1     200     Upgraded
Technologies Pvt Ltd                    based(Sub limits)                          from
(revised from 10 CR)
Comstar Automotive                      ST - Non FB Fac       A1     170     Assigned
Technologies Pvt Ltd
Hyderabad Duty Free Retail Ltd          LOC                   A3     15.9    Revised from
Komos Automotive India Pvt Ltd          ST non FB Fac         A4     30      Assigned
Komos Automotive India Pvt Ltd          ST non FB Fac         A4     70      Assigned
Mahesh Industries Pvt Ltd               NFBL                  A3+    600     Assigned
Mahesh Timber Pvt Ltd                   Non-FBL               A3+    1820    Assigned
NCML Industries Ltd                     IPO                   Grade 3      -       Assigned
Nutrikraft India Pvt Ltd                ST non FB Fac         A2+    40      Suspended
Ram Dev International Ltd               Export Packing Credit A3     1366.3  Reaffirmed
(earlier Rs. 100.0 crore)
State Bank Of Patiala                   CDs programme         A1+    180000  Reaffirmed
Unibic Biscuits India Pvt Ltd           ST Non- FBL           A4     25      Reaffirmed

Bangalore International                 TL                    A-     17960   Upgraded
Airport Ltd                                                                        from
Bangalore International                 Unallocated limits    A-     9190    Upgraded
Airport Ltd                                                                        from
Bisman Industries Ltd                   Fund Based - CC       BB     80      Reaffirmed
(enhanced from 6.00 CR)
Bisman Industries Ltd                   Non Fund Based - BG   BB     2       Reaffirmed
Comstar Automotive                      LT - FB Fac           A      50      Upgraded
Technologies Pvt Ltd                                                               from
(revised from 10.00 CR)
Comstar Automotive                      LT / ST - unallocated A /    5       Upgraded
Technologies Pvt Ltd                                          A1             from
                                                                                   BBB+ /
(revised from 13.77 CR)
Comstar Automotive                      TL                                 -       -
Technologies Pvt Ltd
(revised from 3.73 CR)
Globe Civil Projects Pvt Ltd            Non FB Bk Fac         BBB-   785     Reaffirmed
(enhanced from Rs. 70.00 crore)
Globe Civil Projects Pvt Ltd            LT FB Bk Fac          BBB-   15      Assigned
Hyderabad Duty Free Retail Ltd          FBL                   BBB-   210     Revised from
Hyderabad Duty Free Retail Ltd          BG                    BBB-   94.1    Revised from
IFCI Ltd                                Bonds/NCD Programme   A      2500    Assigned
(with green shoe option; total amount not to exceed Rs 2,000 crore)
Jai Maa Savitri Educational             Fund Based Bk Fac     D      310     Assigned
KBA Infrastructure Pvt Ltd              CC                    BB-    60
KBA Infrastructure Pvt Ltd              BG                    BB-    20      Reaffirmed
Komos Automotive India Pvt Ltd          TL                    BB     169.3   Suspended
Komos Automotive India Pvt Ltd          LT FB Fac             BB     200     Suspended
Kwality Township Pvt. Ltd.              TL                    B+     50      Assigned
M/S B. Nehal                            TL                    B+     3.8     Reaffirmed
(reduced from Rs. 0.65 crore)
M/S B. Nehal                            FBL                   B+ /   660     Reaffirmed /
                                                              A4             Assigned
(enhanced from Rs. 55.00 crore)
Mahesh Industries Pvt Ltd               FBL                   BBB    120     Assigned
Mahesh Timber Pvt Ltd                   FB Limits             BBB    600     Assigned
Meena Developers                        LT FBL                B      124.5   Suspended
Narayan Builders And Developers         Fund Based Bk Fac     B      850     Revised from
(enhanced from Rs 60.00 crore)
Nutrikraft India Pvt Ltd                LT FB Fac             BBB+   10      Suspended
Ram Dev International Ltd               CC Limits*            BBB-   1618.7  Reaffirmed
(earlier Rs. 112.0 crore)
Ram Dev International Ltd               Standby Line of Credit BBB-   155     Reaffirmed
(earlier Rs. 20.0 crore)
Ram Dev International Ltd               TL(earlier nil)       BBB-   153.9   Reaffirmed
Ram Dev International Ltd               Unallocated Limits    BBB-   6.1     Reaffirmed
State Bank Of Patiala                   Lower Tier II bonds   AAA    7500    Reaffirmed
Teja Times                              CC                    B+     80      Reaffirmed
Teja Times                              TL                    B+     3       Reaffirmed
Teja Times                              Unallocated           B+ /   17      Reaffirmed
Uni Medicolabs                          TL                    BB+    174     Assigned
Uni Medicolabs                          FBF                   BB+    25      Assigned
Unibic Biscuits India Pvt Ltd           LT FBL                B+     160     Reaffirmed
United Composheets Pvt Ltd              LT FB Bk Fac          B      60      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

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