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ICRA ratings for Indian debt instruments-Nov 16
November 16, 2015 / 10:27 AM / 2 years ago

ICRA ratings for Indian debt instruments-Nov 16

Nov 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of November 13, 2015.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bygging India Ltd                       ST Non Fund Based     A3     760     Assigned
Globe Fincap Ltd                        CP Programme          A1+    500     Provisional
                                                              (SO)
Gruh Finance Ltd                        ST Debt Programme     A1     44500   Assigned
(enhanced from Rs. 3,500 crore)
Harinagar Sugar Mills Ltd               Non-FBL               A2+    87.1    Reaffirmed
Kamman Corporation                      ST Non FB Limits (LC) A4+            Reaffirmed
*Sub limit of CC
Kanco Tea & Industries Ltd              Non-FBL               A3+    5.2     Reaffirmed
Karikali Amman Spinning Mills           ST - Non FB Fac       A4     55.8    Reaffirmed
Pvt Ltd
(revised from 5 Cr)
M/S Pravesha Industries Pvt Ltd         Non-FB Fac            A2     150     Suspended
Om Sai Renewable Energy Pvt Ltd         off-grid solar        SP 3C                Assigned
                                        projects
Padia Exports Pvt Ltd                   NFBL (Forward         A4     12      Reaffirmed
                                        Contract)
(enhanced from Rs. 1.11 crore earlier)
Premier Industrial Corporation          ST FB Sub Limits      A4             Reaffirmed
Ltd                                     (BP/BD/FBP/FBD)
*Sub limit within the CC limit
Premier Industrial Corporation          ST Non FB Sub-Limits  A4             Reaffirmed
Ltd                                     (LC)
*Sub limit within the CC limit
Samruddha Resources Ltd                 ST Non-FBL            D      30      Revised from
                                                                                   A4+
Samruddha Resources Ltd                 ST Non-FBL            D      30      Revised from
                                                                                   A4+
Sbi Funds Management Pvt Ltd            SBI Magnum Instacash  A1+            Reaffirmed
                                        Fund                  mfs
Sbi Funds Management Pvt Ltd            SBI Premier Liquid    A1+            Reaffirmed
                                        Fund                  mfs
Sbi Funds Management Pvt Ltd            SBI Ultra ST Debt Fund A1+            Reaffirmed
                                                              mfs
Sbi Funds Management Pvt Ltd            SBI Magnum Income     A1+            Reaffirmed
                                        Fund Floating Rate    mfs
                                        Plan Savings Plus Bond Plan
Sivaswati Textiles Pvt Ltd              ST Non-FBL            A3     130     Reaffirmed
(revised from 11 Cr)
Standard Consultants Ltd                ST - Non-fund based   A4     150     Reaffirmed
(revised from 10 Cr)
Travancore Cocotuft Pvt Ltd             ST FBL                A4+    200     Upgraded
                                                                                   from A4
Travancore Cocotuft Pvt Ltd             ST NFBL               A4+    50      Upgraded
                                                                                   from A4
Travancore Cocotuft Pvt Ltd             ST proposed Fac       A4+    17      Assigned
William Industries Pvt Ltd              FBL (Sub-Limit of CC) A4     15      Reaffirmed
                                        -Packing Credit / FBP
William Industries Pvt Ltd              FBL (Sub-Limit of CC) A4     15      Reaffirmed
                                        - Bill Discounting
Winsome Textile Industries Ltd          ST: Fund Based        A4+    1275    Reaffirmed
Enhanced from Rs. 100.75 crore
Winsome Textile Industries Ltd          ST: Non-Fund Based    A4+    1019.7  Reaffirmed
Enhanced from Rs. 90.84 crore

LONG TERM RATINGS:
-------------------
Annapurna Microfinance Pvt Ltd          NCD Programme         BBB    264     Assigned
Annapurna Microfinance Pvt Ltd          NCD Programme         BBB    198     Assigned
Antony Road Transport                   TL                    D      250     Assigned
Solutions Pvt Ltd
(Enhanced from Rs. 10.00 crores to Rs. 35 crores)
Bygging India Ltd                       LT Fund Based         BBB-   230     Assigned
Bygging India Ltd                       LT & ST - Unallocated BBB-/  220     Assigned
                                        amount                A3
Gajanand Cotton Industries              Fund based Bk limits  B+     42.5    Suspended
Gbj Hotels Pvt Ltd                      LT Scale - TL         B+     1080    Reaffirmed
Globe Textiles (India) Pvt Ltd          Fund based and non FB B+/    363.3   Suspended
                                        Fac                   A4
Harinagar Sugar Mills Ltd               TL                    A-     1291.4  Reaffirmed /
                                                                                   Assigned
(enhanced from Rs. 90.37 crore)
Harinagar Sugar Mills Ltd               FBL                   A-     2800    Reaffirmed
Kamman Corporation                      LT FBL (CC)           BB+    100     Reaffirmed
Kamman Corporation                      Proposed Limits       BB+ /  50      Reaffirmed
                                                              A4+
Kanco Tea & Industries Ltd              TL                    BBB    117.6   Reaffirmed
Kanco Tea & Industries Ltd              FBL - CC              BBB    75      Reaffirmed
Karikali Amman Spinning Mills           TL Fac                B+     34.1    Upgraded
Pvt Ltd                                                                            from B
(revised from 7.17 Cr)
Karikali Amman Spinning Mills           LT - FB Fac           B+     95      Upgraded
Pvt Ltd                                                                            from B
Karikali Amman Spinning Mills           LT / ST - Unallocated B+     40      Upgraded
Pvt Ltd                                 limits                                     from B
                                                                                   /Reaffirmed
(revised from 0.82 Cr)
M/S Gurunanak Educational               Fund based            D      167.5   Suspended
Society
M/S Gurunanak Educational               Unallocated Fac       D      23.2    Suspended
Society
M/S Hyderabad Food Products             FB Fac                B-     100     Suspended
Pvt Ltd
M/S Kk Rao Engineering Works            Bk Fac                BB /   160.5   Suspended
Pvt Ltd                                                       A4
M/S Pravesha Industries Pvt Ltd         fund based            BBB    440.4   Suspended
M/S Pravesha Industries Pvt Ltd         unallocated Fac       BBB    57      Suspended
M/S Suryamitra Exim Pvt Ltd             fund based            BB-    835     Suspended
M/S Suryamitra Exim Pvt Ltd             unallocated Fac       BB-    155     Suspended
Padia Exports Pvt Ltd                   FBL (EPC/ PCFC/ FBD/  BB /   110     Reaffirmed
                                        EBR)*                 A4
(enhanced from Rs. 9.50 crore earlier) * EPC/ PCFC limit is fully interchangeable with FBD/ EBR,
EPC- Export Packing Credit, PCFC- Packing Credit in Foreign Currency, FBD- Foreign Bill
Discounting,
EBR- Export Bill Rediscounting, SBL- Stand by Limit
Padia Exports Pvt Ltd                   FBL (SBL)#            BB /   22      Reaffirmed
                                                              A4
(enhanced from Rs. 1.90 crore earlier) # SBL limit is to be used either as EPC/ PCFC or as FBD/
EBR limits, EPC- Export Packing Credit, PCFC- Packing Credit in Foreign Currency, FBD- Foreign
Bill Discounting,
EBR- Export Bill Rediscounting, SBL- Stand by Limit
Premier Industrial Corporation          LT FBL (CC)           BB     450     Reaffirmed
Ltd
Premier Industrial Corporation          LT FBL (TL)           BB     0.3     Reaffirmed
Ltd
(earlier Rs. 0.83 crore)
Premier Industrial Corporation          Proposed Limits       BB/    49.7    Reaffirmed
Ltd                                                           A
(earlier Rs. 4.17 crore)
Rai Metal Works Pvt Ltd                 Fund based and non FB BB /   570     Suspended
                                        Fac                   A4
Rashtrotthana Parishat                  TL                    A-     200     Upgraded
                                                                                   from
                                                                                   BBB+
Rashtrotthana Parishat                  CC limits (mortgage   A-     50      Upgraded
                                        loan against property)                     from
                                                                                   BBB+
Rashtrotthana Parishat                  Overdraft limits      A-     100     Upgraded
                                                                                   from
                                                                                   BBB+
S.B. Cars Pvt Ltd                       CC*                   BB-    262.5   Reaffirmed
*Increased from Rs. Rs. 22.50 crore
S.B. Cars Pvt Ltd                       TL#                   BB-    37.5    Reaffirmed
#reduced from Rs. 7.50 crore
Samruddha Resources Ltd                 LT FB limit           D      300     Revised from
                                                                                   BB+
Samruddha Resources Ltd                 LT FB limit           D      300     Revised from
                                                                                   BB+
Sarala Foods Pvt Ltd                    LT FBL                B+     150     Assigned
Sbi Funds Management Pvt Ltd            SBI Magnum Income Fund AAA            Reaffirmed
                                                              mfs
Sbi Funds Management Pvt Ltd            SBI Dynamic Bond Fund AAA            Reaffirmed
                                                              mfs
Sbi Funds Management Pvt Ltd            SBI Capital           AAA            Reaffirmed
                                        Protection Oriented   mfs (SO)
                                        Fund - Series II*
*Erstwhile, SBI Capital Protection-Oriented Fund Series III
Shri Agrawal Educational And            LT FBL                B+     210     Reaffirmed
Cultural Society
Sivaswati Textiles Pvt Ltd              LT FBL                BBB-   551.3   Reaffirmed
(revised from 52.75 Cr)
Sivaswati Textiles Pvt Ltd              LT Unallocated Limits BBB-   230.9   Reaffirmed
(revised from 27.47 Cr)
Srinath Trading Company                 FBL - CC              BB     15      Reaffirmed
Srinath Trading Company                 FBL - Bill Discounting BB     245     Reaffirmed
Standard Consultants Ltd                LT - Fund based       B+     70      Reaffirmed
(revised from 4.25 Cr)
Tezpur Institute Of Medical             Proposed FBL          B-     139.6   Assigned
Sciences Pvt Ltd
Torrent Cables Ltd                      Bk Fac                A+ /   990     Withdrawn
                                                              A1+
William Industries Pvt Ltd              FBL - CC              B      70      Reaffirmed
Winsome Textile Industries Ltd          LT: Fund Based^       BB+/  2835.3  Reaffirmed
                                                              A4+
Reduced from Rs. 315.31 crore
^Long Term Fund Based limits are interchangeable with Short Term Fund Based limits to the extent
of Rs. 80.05 crore and in case the limits are availed as short term facilities, the short term
rating will be applicable. The overall utilisation by way of long term and short term fund based
limits cannot exceed Rs. 283.53 crore
--------------------------------------------------------------------------------------------
$: 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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