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ICRA ratings for Indian debt instruments-Oct 4
October 4, 2016 / 10:52 AM / a year ago

ICRA ratings for Indian debt instruments-Oct 4

Oct 4 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 3, 2016.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Amber Builders                          BG                    A4     90      Suspended
Anant Rice Industries                   Non FBL - BG          A4     25      Reaffirmed
Azad Impex Pvt Ltd                      LOC                   A4     380     Assigned
Banas Stones Pvt Ltd                    SLC-ST                A4     6.5     Reaffirmed
Dianare Exports                         FB Fac                A4+    120     Suspended
Ecl Finance Ltd                         CP Programme (IPO     A1+    30000   Assigned
                                        Financing)
Edelweiss Commodities Services          CP Programme (IPO     A1+    25000   Assigned
Ltd                                     financing)
Edelweiss Finance &                     CP Programme (IPO     A1+    10000   Assigned
Investments Ltd                         financing)
Edelweiss Financial Services            CP Programme (IPO     A1+    30000   Assigned
Ltd                                     Financing)
Giriraj Timber Pvt Ltd                  LOC (FLC/BC)          A4     420     Assigned
Ideal Dye Chem Industries               ST NFBF               A3     35      Suspended
Jumbo Bag Ltd                           FBL                   A4     20      Suspended
Jumbo Bag Ltd                           Non-FBL               A4     119     Suspended
Kirby Building Systems India            NFBL                  A1+    2970    Assigned
Pvt Ltd
Kirby Building Systems India            NFBL                  A1+    2970    Assigned
Pvt Ltd
Minda Industries Ltd                    CP /ST Debt Programmme A1+    300     Assigned
Minda Industries Ltd                    Non FB Fac            A1+    270     Outstanding
Mms Infratech Pvt Ltd                   BG                    ICRA]A4      360     Reaffirmed
Nandan Terry Pvt Ltd                    ST Non Fund Based*    A4+    -       Assigned
*sub limit of Term loan
Ntpc-Alstom Power Services Pvt          NFBL                  A1+    149.5   Reaffirmed
Ltd
Sarvag Shipping Services Pvt            ST -LOC               A4     950     Assigned
Ltd
Sml Isuzu Ltd                           Working Capital       A1+    1200    Reaffirmed
                                        Demand Loan
Sml Isuzu Ltd                           LOC                   A1+    280     Reaffirmed
Sml Isuzu Ltd                           BG                    A1+    200     Reaffirmed
Sml Isuzu Ltd                           Bill Discounting      A1+    50      Reaffirmed
Sml Isuzu Ltd                           CP/ ST Debt Programme A1+    500     Reaffirmed
Starlite Lighting Ltd                   NFBL                        270     Upgraded
                                                              A1+(SO)              from 
                                                                                   A1(SO)
(enhanced from Rs. 10.00 crore)
Sterlite Technologies Ltd               CP                    A1+    3500    Reaffirmed
Sundaram Bnp Paribas Home               CP                    A1+    5000    Reaffirmed
Finance Ltd
Torrent Pharmaceuticals Ltd             CP                    A1+    600     Reaffirmed



MEDIUM TERM RATINGS:
-------------------
Sundaram Bnp Paribas Home               Fixed Deposits        MAA+         -       Reaffirmed
Finance Ltd


LONG TERM RATINGS:
-------------------
Amber Builders                          CC facility           BB-    50      Suspended
Anant Rice Industries                   FBL - TL              B+     8       Reaffirmed
(Revised from Rs.0.76 crore earlier)
Anant Rice Industries                   FBL - CC              B+     35*     Reaffirmed
*Rs. 1.00 crore is interchangeable to Bank Guarantee
Anant Rice Industries                   Untied Limit          B+     22      Reaffirmed
(Revised from Rs.2.24 crore earlier)
Ars Energy Pvt Ltd                      TL                    A-     2544.9  Suspended
Ars Energy Pvt Ltd                      Unallocated Fac       A-     5.1     Suspended
Au Financiers (India) Ltd               PTC Series A1         AA    999.1   Assigned
Au Financiers (India) Ltd               PTC Series A          AA    895.2   Assigned
Au Financiers (India) Ltd               PTC Series A1         AA    981.4   Assigned
                                                              (SO)
Au Financiers (India) Ltd               PTC Series A                910     Assigned
                                                              AA+(SO)
Au Financiers (India) Ltd               Liquidity Facility    AAA   10      Assigned
                                        (LF)
Au Financiers (India) Ltd               Liquidity Facility    AAA   9       Assigned
                                        (LF)
Au Financiers (India) Ltd               Liquidity Facility    AAA   9.1     Assigned
                                        (LF)                  (SO)
Au Financiers (India) Ltd               Liquidity Facility    AAA   9.8     Assigned
                                        (LF)                  (SO)
Au Financiers (India) Ltd               PTC Series A          AAA   1251.9  Assigned
                                                              (SO)
Au Financiers (India) Ltd               Liquidity Facility    AAA   12.5    Assigned
                                        (LF)                  (SO)
Au Financiers (India) Ltd               Second Loss Facility  BBB   54.6    Assigned
                                        (SLF)                 (SO)
Au Financiers (India) Ltd               Second Loss Facility  BBB   36.8    Assigned
                                        (SLF                  (SO)
Au Financiers (India) Ltd               Second Loss Facility  BBB   81.4    Assigned
                                        (SLF)                 (SO)
Au Financiers (India) Ltd               Second Loss Facility  BBB    47.5    Assigned
                                        (SLF)
Au Financiers (India) Ltd               Second Loss Facility  BBB    44.7    Assigned
                                        (SLF)
Azad Impex Pvt Ltd                      CC                    BB     40      Assigned
Bajaj Kagaj Ltd                         Bk Fac                ICRA]BB- /   118.1   Suspended
                                                              A4
Banas Stones Pvt Ltd                    TL                    BB-    12.5    Reaffirmed
Banas Stones Pvt Ltd                    CCL                   BB-    55      Reaffirmed
Creations Jewellery                     LT/ST - FB Limits Pre BBB /  200     Reaffirmed /
Manufacturing Pvt Ltd                   Shipment Credit       A3+            Assigned
(Enhanced from Rs. 12.00 crore)
Creations Jewellery                     LT/ST - FB Limits     BBB /  300     Reaffirmed /
Manufacturing Pvt Ltd                   Post Shipment Credit  A3+            Assigned
(Enhanced from Rs. 18.00 crore)
Creations Jewellery                     LT/ST - FB Limits     BBB /  45      Reaffirmed
Manufacturing Pvt Ltd                   Stand by Line of      A3+
                                        Credit
Dcs Techno Services Pvt Ltd             CC limits             BB     57.5    Assigned
Dcs Techno Services Pvt Ltd             LOC/ BG Limits        BB/A4  62.5    Assigned
Dixcy Textiles Pvt Ltd                  LT/ST: FB Fac         A-     500     Assigned
                                                              (stable) /
                                                              A2+
Energy Efficiency Services Ltd          Unallocated limits    AA     10000   Assigned
Five-Star Business Finance Ltd          LT BF                 BBB+   1000    Assigned
Florida Electrical Industries           FBL                   BB-    75      Revised from
Ltd                                                                                B+
Florida Electrical Industries           Unallocated (Proposed BB-    5       Revised from
Ltd                                     Limits)                                    B+
Florida Electrical Industries           FBL                   BB-    75      revised from
Ltd                                                                                B+
Florida Electrical Industries           Unallocated (Proposed BB-    5       revised from
Ltd                                     Limits)                                    B+
Gav Agro Pvt Ltd                        TL                    B      101.5   Assigned
Gav Agro Pvt Ltd                        CCL                   B      40      Assigned
Gem Batteries Pvt Ltd                   CCF                   B-     180     Assigned
Giriraj Timber Pvt Ltd                  CC                    BB     40      Assigned
Gmr Power Corporation Ltd               FBL                   D      730     Suspended
Gmr Power Corporation Ltd               TL                    D      2500    Suspended
Gmr Power Corporation Ltd               NFBL                  D      3287.5  Suspended
Hi-Q Electronics (P) Ltd                TL                    BBB-   199     Reaffirmed
Hi-Q Electronics (P) Ltd                CC                    BBB-   50      Reaffirmed
Hi-Q Electronics (P) Ltd                Unallocated           BBB-   22      Reaffirmed
Ideal Dye Chem Industries               LT                    BBB-   72      Suspended
Ideal Dye Chem Industries               FB WC                 BBB-   80      Suspended
                                                              / A3
Jumbo Bag Ltd                           TL                    B-     18.9    Suspended
Jumbo Bag Ltd                           FBL                   B-     9.1     Suspended
K.K. Leisures & Tourism                 LT, TL                B-     142.7   Assigned /
International Pvt Ltd                                                              Outstanding
K.K. Leisures & Tourism                 LT, Unallocated       B-     7.3     Assigned
International Pvt Ltd
Kailash Motors                          CC                    B      255.5   Reaffirmed
Kailash Motors                          TL                    B      6       Assigned
Kailash Motors                          Overdraft             B/A4   138.5   Reaffirmed
Kbr Agro Industries                     FBL-CC                B      80      Reaffirmed
Kbr Agro Industries                     FBL-TL                B      20      Reaffirmed
Kiran Infra Engineers Ltd               Bk Fac                BB/A4  970     Suspended
Kirby Building Systems India            CC Limits             A+     250     Assigned
Pvt Ltd
Kirby Building Systems India            Unallocated Limits    A+     80      Assigned
Pvt Ltd
Kirby Building Systems India            CC Limits             A+     250     Assigned
Pvt Ltd
Kirby Building Systems India            Unallocated Limits    A+/A1+ 80      Assigned
Pvt Ltd
Krupa Trading Company                   CC Fac                BB+    25      Withdrawan
Krupa Trading Company                   non FB Fac            BB+    60      Withdrawan
Maharaja Shree Umaid Mills Ltd          TL                    BB     1706.7  Downgraded 
                                                                                   from
 BBB- 
                                                                                   and A3

Maharaja Shree Umaid Mills Ltd          CC limits             BB     500     Downgraded 
                                                                                   from
 BBB- 
                                                                                   and A3 
Maharaja Shree Umaid Mills Ltd          Non FB limits         BB     9.7     Downgraded 
                                                                                   from
 BBB- 
                                                                                   and A3
Maharaja Shree Umaid Mills Ltd          CC limits / Short-TL ^ BB /   650     Downgraded
                                                              A4             from
                                                                                   BBB- /
 A3
^ Cash Credit limits are interchangeable with short term loans and in case the limit
 is availed as short-term loan; the short term rating will be applicable

Maharaja Shree Umaid Mills Ltd          Non FB limits #       BB /   50      Downgraded
                                                              A4             from
                                                                                   BBB-
and A3
# Non Fund based limits are interchangeable between fund based and non fund based 
limits and in case the limits is availed as short term limit, the short term rating will be
applicable

Maharaja Shree Umaid Mills Ltd          Proposed limits       BB /   200     Downgraded
                                                              A4             from
                                                                                   BBB- 
                                                                                   and A3
Minda Industries Ltd                    TL Fac                AA-    201.7   Outstanding
Minda Industries Ltd                    CC Fac                AA-    985     Outstanding
Minda Industries Ltd                    Unallocated           AA-    113.3   Outstanding
Mms Infratech Pvt Ltd                   Over Draft            BB-    70      Reaffirmed
Mms Infratech Pvt Ltd                   TL                    BB-    18.7    Reaffirmed
Mms Infratech Pvt Ltd                   Unallocated Limits    BB-    53.4    Reaffirmed
Modern Agro Mills                       LT FBL                B+     90      Reaffirmed
Nandan Terry Pvt Ltd                    TL Fac                BB+    3530    Assigned
Navin Cold Storage Pvt. Ltd.            FB Limit - TL         C+     18.1    Assigned
Navin Cold Storage Pvt. Ltd.            FB Limit - CC         C+     11.7    Assigned
Navin Cold Storage Pvt. Ltd.            FB Limit - Working    C+     55      Assigned
                                        Capital Loan
Navin Cold Storage Pvt. Ltd.            Unallocated Limit     C+     5.2     Assigned
Ntpc-Alstom Power Services Pvt          FBL                   A+     15      Reaffirmed
Ltd
Ozone Urbana Infra Developers           LT Scale - TL         BBB    7000    Upgraded
Pvt Ltd                                                                            from
                                                                                   BBB-
Primeseal Woodplast Pvt Ltd             Bk Fac                B-/A4  67.5    Suspended
Priyanshi Textiles Pvt Ltd              CC Facility           D      27.5    Suspended
Priyanshi Textiles Pvt Ltd              TL                    D      51.8    Suspended
Ramco Extrusion Pvt Ltd                 LT Fund Based - TL    B+     20      Reaffirmed
Ramco Extrusion Pvt Ltd                 LT Fund Based - CC    B+     110     Reaffirmed
(enhanced from Rs. 8.00 cr)
Sarvag Shipping Services Pvt            LT/ST - Unallocated   -            -       -
Ltd
(Reduced from 22.00 CR)
Sarvag Shipping Services Pvt            LT - CC Limits        BB     150     Assigned
Ltd
Shapoorji Pallonji Energy               NFBL                  AA-    2400    Reaffirmed
(Gujarat) Pvt Ltd
Shapoorji Pallonji Energy               NCD                   AA(SO) 2000    Reaffirmed
(Gujarat) Pvt Ltd
Shreeji Cotfab Ltd                      Bk Fac                B+     150     Suspended
Shyam Sundar Estates Pvt Ltd            LT FB Fac             BB-    300     Suspended
Simoco Telecommunications               CC Facility           D      380     Suspended
(South Asia) Ltd
Simoco Telecommunications               TL                    D      70.3    Suspended
(South Asia) Ltd
Simoco Telecommunications               Non-FB Fac            D      25.7    Suspended
(South Asia) Ltd
Sml Isuzu Ltd                           CC                    AA     250     Upgraded
                                                                                   from
                                                                                   AA-
Starlite Lighting Ltd                   TL                    A+    330.6   Upgraded
                                                              (SO)                 from
                                                                                   A(SO)
(reduced from Rs. 45.00 crore)
Starlite Lighting Ltd                   FBL                   A+    750     Upgraded
                                                              (SO)                 from
                                                                                   A(SO)
(enhanced from Rs. 60.00 crore)
Starlite Lighting Ltd                   NCD                   A+    500     Upgraded
                                                              (SO)                 from
                                                                                   A(SO)
Sterlite Technologies Ltd               NCD                   -            1500    Reaffirmed
Sterlite Technologies Ltd               TL                    AA-    5000    Reaffirmed
Sterlite Technologies Ltd               CC                    AA-    8050    Reaffirmed
Sterlite Technologies Ltd               LT / ST NFBL          AA-    31950   Reaffirmed
Sundaram Bnp Paribas Home               NCDs                  AA+    11900   Reaffirmed
Finance Ltd
Sundaram Bnp Paribas Home               Subordinated Deb      AA+    3700    Reaffirmed
Finance Ltd
Sundaram Bnp Paribas Home               LT Bk Limits          AA+    11190.7 Reaffirmed
Finance Ltd
T.C. Spinners Pvt Ltd                   Bk Fac                B+/A4  1037.5  Suspended
Tata Motors Finance Ltd                 PTCs                  Provisional  2500.7  Assigned
                                                              AAA
Tata Motors Finance Ltd                 Second Loss Facility  Provisional  187.6   Assigned
                                                              BBB
The Scottish Assam (India) Ltd          Fund Based Bk Fac     BBB+   90      Reaffirmed /
                                                                                   Assigned
Thomas Hotels & Resorts Pvt Ltd         Term Fac              B      156.5   Suspended
Torrent Pharmaceuticals Ltd             Long/ST - Unallocated -            950     Reaffirmed
Torrent Pharmaceuticals Ltd             LT - CC               AA     17950   Reaffirmed /
                                                                                   Assigned
Torrent Pharmaceuticals Ltd             LT - TL               AA     11710   Reaffirmed
Torrent Pharmaceuticals Ltd             NCD                   AA     10000   Reaffirmed
Tufanganj Agro Industries Pvt           TL                    B/A4   50.7    Suspended
Ltd
Tufanganj Agro Industries Pvt           CC facility           B/A4   3       Suspended
Ltd
Tufanganj Agro Industries Pvt           Unallocated Limits    B/A4   8.8     Suspended
Ltd
Turtle On The Beach                     TL Fac                B      80      Suspended
Universal Mine Developers &             TL                    A      1560    Reaffirmed
Service Providers Pvt Ltd
Universal Mine Developers &             FBL                   A      60      Reaffirmed
Service Providers Pvt Ltd
V. V. Ramasamy Chettiar & Co.           Bk Fac                B /    100     Suspended
                                                              A4
Venkata Naga Lakshmi Paper              TL Limits             B+     17.1    Reaffirmed
Mills Pvt Ltd
Venkata Naga Lakshmi Paper              CC Limits             B+     90      Reaffirmed
Mills Pvt Ltd
Venkata Naga Lakshmi Paper              Unallocated Limits    B+/A4  142.9   Reaffirmed
Mills Pvt Ltd
Vijay Industries                        CCL                   BB     70      Reaffirmed
Yatharth Hospitals & Trauma             Bk Fac                B+     412     Suspended
Care Services Pvt. Ltd.
--------------------------------------------------------------------------------------------
$: 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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