March 14, 2012 / 5:32 AM / 5 years ago

ICRA ratings for Indian debt instruments-Mar 14

Mar 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 13, 2012.	
	
	
COMPANY                                 INSTRUMENT             RATING     AMOUNT   MOVEMENT	
                                                                          (RS.MLN)	
------                                  ----------             ------     -----    ---------	
	
SHORT TERM RATINGS:	
-------------------	
Anand Teknow Aids Engineering           ST non FB Fac         A4     250     Assigned	
India Ltd	
Astral Pharmaceutical                   ST Fund               A3+    99.5    Assigned	
Industries	
Astral Pharmaceutical                   Non FB Fac            A3+    20      Assigned	
Industries	
Deepak Nitrite Ltd                      Non-FBL               A1+    1250    Reaffirmed	
(enhanced from Rs. 95.00 crore)	
Deepak Nitrite Ltd                      CP                    A1+    200     Reaffirmed	
(enhanced from Rs. 95.00 crore	
Deepak Steel & Power Ltd                FBL - Export Packing  A3     350     Assigned	
                                        Credit	
Deepak Steel & Power Ltd                FBL - ST Loan         A3     200     Assigned	
Deepak Steel & Power Ltd                Non-FBL - Forward     A3     31.2    Assigned	
                                        Contract	
Dhoot Transmission Pvt Ltd              ST FB Fac and non FB  A3+    70      Assigned	
                                        Fac	
Greatweld Steel Grating Ltd             ST non FB Fac         A4     113     Assigned	
Kamadgiri Fashion Ltd                   FBL - IUBD (Sublimit  A3     50      Assigned	
                                        within CC Limits	
Kamadgiri Fashion Ltd                   NFBL - LOC            A3     90      Assigned	
N.K. Polymers & Additives               Non-fund Based, ST Fac A4     110     Assigned	
Manufacturing Company	
Nikas Gems                              EPC                   A4     40      Assigned	
Nikas Gems                              PSC                   A4     80      Assigned	
Sai-Laxmi Texofab                       ST Non-FBL            A4     1.6     Assigned	
Short Term Non-Fund Based               ST Non-FBL            A4     25      Assigned	
Limits	
Sudhir Gensets Ltd                      ST Scale NFB Limits   A1+    2110    Reaffirmed	
Sudhir Intra Vidyut Limted              ST Scale NFB Limits   A1+    130     Reaffirmed	
                                                              (SO)	
Sudhir Power Projects Ltd               ST Scale NFB Limits   ICRA]A1+(SO) 1166    Reaffirmed	
Taneja Aerospace & Aviation Ltd         ST, non fund based    A2     231.3   Suspended	
                                        LOC and BG Fac        (SO)	
Troikaa Pharmaceuticals Ltd             fund based and non FB A3     700     Withdrawn	
                                        Fac	
Zeta Industrial Corporation             Non-FBL               A4     32.5    Assigned	
Pvt Ltd	
	
LONG TERM RATINGS:	
-------------------	
	
Anand Teknow Aids Engineering           CC Fac                BB-    166     Withdrawn	
India Ltd	
Anand Teknow Aids Engineering           CC Fac                BB-    250     Withdrawn	
India Ltd	
Astral Pharmaceutical                   TL                    BBB    15.1    Suspended	
Industries	
Astral Pharmaceutical                   CC Fac                BBB    70      Suspended	
Industries	
Bazargaon Paper & Pulp Mills            LT FBL                B      62.5    Assigned	
Pvt Ltd	
Bazargaon Paper & Pulp Mills            TL                    B      33.9    Assigned	
Pvt Ltd	
Deepak Nitrite Ltd                      TL                    A+     180     Reaffirmed	
(reduced from Rs. 32.16 crore	
Deepak Nitrite Ltd                      FBL*                  A+     1662    Reaffirmed	
* entirely interchangeable between long-term and short-term facilities;enhanced from Rs. 136.20
crore	
Deepak Steel & Power Ltd                FBL - CC              BBB-   200     Downgraded	
                                                                                   from BBB	
enhanced from Rs. 15.0 crore earlier	
Dhan Shree Fabrics Ltd                  FB Fac                B+     60      Assigned	
Dhoot Transmission Pvt Ltd              TL                    BBB    200     Suspended	
Dhoot Transmission Pvt Ltd              CC Facilites          BBB    330     Suspended	
Fruitful Buildcon Pvt Ltd               TL Programme          BB     540     Reaffirmed	
Gmr Kamalanga Energy Ltd                NFBL                  BBB /  4500    Assigned	
                                                              A3+	
Greatweld Steel Grating Ltd             TL                    BB-    39.8    Withdrawn	
Greatweld Steel Grating Ltd             CC Fac                BB-    110     Withdrawn	
Kamadgiri Fashion Ltd                   FBL - CC              BBB-   280     Assigned	
Kamadgiri Fashion Ltd                   FBL - TL              BBB-   89.9    Assigned	
Kamadgiri Fashion Ltd                   Untied Limits -       BBB-   10.1    Assigned	
                                        Unallocated amount    / A3	
Livingstones                            EPC                   B+    147     Assigned	
Livingstones                            PSC                   B+    273     Assigned	
Livingstones                            Forward Contract      B+    5       Assigned	
Maharashtra Academy Of                  TL                    A-     900     Reaffirmed	
Engineering And Educational	
Research	
revised from Rs. 105.0 crore	
Maharashtra Academy Of                  LT, FB Fac (Overdraft) A-     550     Reaffirmed	
Engineering And Educational	
Research	
revised from Rs. 40.0 crore	
N.K. Polymers & Additives               FB, LT Fac            BB-    40      Assigned	
Manufacturing Company	
Prachee Filaments Pvt Ltd               LT FBL                B-     216.5   Assigned	
Instrument	
Prachee Filaments Pvt Ltd               Proposed Limits*      B- /   1       Assigned	
Instrument                                                    A4	
Rama Wines                              LT/ST, FB Fac         BB- /  100     Revised from	
                                                              A4             BB	
Sai-Laxmi Texofab                       LT FBL                B+     62.1    Assigned	
Sjp Real Estate Ltd                     line of credit        BB-    35      Withdrawn	
Sudhir Intra Vidyut Limted              LT Scale FB Limits    AA-    82.5    Reaffirmed	
                                                              (SO)	
Taneja Aerospace & Aviation Ltd         LT loans & working    BBB+   288.3   Suspended	
                                        capital Fac           (SO)	
Uttara Foods And Feeds Pvt Ltd          TL Limits             A-(SO) 185.3   Assigned	
Vizag Seaport Pvt Ltd                   TL                    BBB-   1793.4  Reaffirmed	
Vizag Seaport Pvt Ltd                   Non FB Fac            ICRA]BBB-    170     Reaffirmed	
Zeta Industrial Corporation             FBL                   BB-    25      Assigned	
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, E-mail at rru.data@reuters.com)

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