July 16, 2012 / 5:58 AM / 5 years ago

ICRA ratings for Indian debt instruments-Jul 16

Jul 16 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 13, 2012.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ab&Co Global Pvt Ltd                    ST, FBL (Buyers       A4     250     Assigned
                                        Credit)
Ab&Co Global Pvt Ltd                    ST, NFBL (LOC)        A4     500     Assigned
Ab&Co Global Pvt Ltd                    ST, NFBL (BG) #       A4     50      Assigned
# sub-limit of Letter of Credit; Total limit should not exceed Rs. 50.0 crore
Acme Safetywears Ltd                    Non FBL - LOC cum BG  A4     7       Assigned
Anglo-French Drugs &                    ST Non-FBL            A3+    35.5    Reaffirmed
Industries Ltd
Bahuleyan Charitable Foundation         Non-FB Fac            A4     1       Assigned
Bosch Ltd                               off-grid solar        SP 1A        -       Assigned
                                        projects
C&S Electric Ltd                        NFBL                  A2+    2600    Revised from
                                                                                   A1+
Dustven Pvt Ltd                         Non-FBL               A4     135     Reaffirmed
Eltel Power Pvt Ltd                     ST Non-FB Fac         ICRA]A4      30      Assigned
Hdfc Asset Management Co. Ltd           HDFC Cash Management  A1+mfs -       Reaffirmed
                                        Fund - Savings Plan
Hdfc Asset Management Co. Ltd           HDFC Liquid Fund      A1+mfs -       Reaffirmed
Hdfc Asset Management Co. Ltd           HDFC Floating Rate    A1+mfs -       Reaffirmed
                                        Income Fund - ST Plan
Hdfc Asset Management Co. Ltd           HDFC Quarterly        A1+mfs -       Reaffirmed
                                        Interval Fund - Plan A
Hdfc Asset Management Co. Ltd           HDFC Quarterly        A1+mfs -       Reaffirmed
                                        Interval Fund - Plan B
Hdfc Asset Management Co. Ltd           HDFC Quarterly        A1+mfs -       Reaffirmed
                                        Interval Fund - Plan C
Hitesh Plastics Pvt Ltd                 Non-FBL               A2     69.5    Reaffirmed
(enhanced from Rs. 6.35 crore earlier)
Jeewan Motors (Pvt) Ltd                 BG                    A4     10      Assigned
Kvk Granites                            FB Fac                A4     50      Assigned
Manubhai Mangaldas Securities           ST non-fund based Bk  A4+    260     Reaffirmed
Pvt Ltd                                 lines
Masina Alloys Pvt Ltd                   ST Non FBL (BG)       A4     10      Reaffirmed
Muktar Minerals Pvt Ltd                 ST, non-fund based Bk A3     20      Suspended
                                        Fac
Rajendra Exim Pvt Ltd                   FBL (ST)              D      5       Revised from
                                                                                   A4
Reliance Communications Ltd             ST FB/Non-FBL         A2+    73140   Revised from
                                                                                   A1+
Reliance Communications Ltd             CP Programme          A2+    20000   Revised from
                                                                                   A1+
Reliance Infratel Ltd                   ST FB/Non-FBL         A2+    15160   Revised from
                                                                                   A1+
Reliance Infratel Ltd                   CP Programme          A2+    10000   Revised from
                                                                                   A1+
Reliance Telecom Ltd                    ST FB/Non-FBL         A2+    7290    Revised from
                                                                                   A1+
Reliance Telecom Ltd                    CP Programme          A2+    5000    Revised from
                                                                                   A1+
Sunrise Containers Ltd                  Non-FBL               A1     131.4   Reaffirmed
(enhanced from Rs. 7.53 crore earlier)
Thermax Babcock & Wilcox                Forward Cover         A2+    50      Reaffirmed
Energy Solutions Pvt Ltd
Thermax Babcock & Wilcox                BGs                   A2+    4700    Reaffirmed
Energy Solutions Pvt Ltd
Thermax Babcock & Wilcox                LOC                   A2+    5000    Reaffirmed
Energy Solutions Pvt Ltd
Venus Jewel                             ST, FB Fac            A1     5350    Reaffirmed
Venus Jewel                             ST, non FB Fac        A1     1       Reaffirmed

LONG TERM RATINGS:
-------------------
Ab&Co Global Pvt Ltd                    LT, FB limits (CC) #  BB-    100     Assigned
# sub-limit of Letter of Credit; Total limit should not exceed Rs. 50.0 crore
Acme Safetywears Ltd                    FBL - CC              BB     69      Assigned
Acme Safetywears Ltd                    FBL - TL              BB     46.51   Assigned
Anglo-French Drugs &                    LT FBL                BBB-   111.5   Reaffirmed
Industries Ltd
Anugraha Valve Castings Ltd             TL                    BBB    35.8    Withdrawn
Aradhna Fabrics Pvt Ltd                 LT FBL                BB-    130.2   Downgraded
                                                                                   from BB
Aradhna Fabrics Pvt Ltd                 LT: Non-FBL           BB-    2       Downgraded
                                                                                   from BB
Bahuleyan Charitable Foundation         TL Fac                B+     74.6    Assigned
C&S Electric Ltd                        FBL                   A-     1800    Revised from
                                                                                   A+
C&S Electric Ltd                        TL                    A-     497.6   Revised from
                                                                                   A+
Dustven Pvt Ltd                         FBL                   BB-    185     Upgraded from
                                                                                   B+
Eltel Power Pvt Ltd                     LT FB Fac             B      20      Assigned
Eltel Power Pvt Ltd                     LT Non-FB Fac         B      120     Assigned
Fullerton India Credit Co. Ltd          LT Bk Lines           AA+    20000   Assigned
Fullerton India Credit Co. Ltd          Sub. Debt Programme   AA+    2000    Assigned
Hdfc Asset Management Co. Ltd           HDFC Cash Management  AAAmfs -       Reaffirmed
                                        Fund - Treasury
                                        Advantage Plan
Hdfc Asset Management Co. Ltd           HDFC ST Plan          AAAmfs -       Reaffirmed
Hdfc Asset Management Co. Ltd           HDFC High Interest    AAAmfs -       Reaffirmed
Hitesh Plastics Pvt Ltd                 FBL - TL              BBB    244.1   Reaffirmed
(reduced from Rs. 29.80 crore earlier)
Hitesh Plastics Pvt Ltd                 FBL - CC              BBB    90      Reaffirmed
(reduced from Rs. 10.75 crore earlier)
Jeewan Motors (Pvt) Ltd                 TL                    BB     1.1     Revised from
                                                                                   BB+ 
Jeewan Motors (Pvt) Ltd                 Working Capital Fac   BB /   247.5   Revised from
                                                              A4              BB+ /
                                                                                   A4+
Kamakshi Cotton Industries              LT FBL                B      85      Assigned
Ginning & Pressing Unit
Kvk Granites                            TL                    B-     18.1    Assigned
Lakshmi Super Speciality                TL                    B      75      Assigned
Hospitals
Masina Alloys Pvt Ltd                   LT FBL (CC)           BB     57.5    Reaffirmed
Muktar Minerals Pvt Ltd                 working capital Fac   BBB-   464.5   Suspended
Pushpa Poultry Complex                  FBL                   B      115     Assigned
Rajendra Exim Pvt Ltd                   TL (LT)               D      56.1    Revised from
                                                                                   B+ 
Rajendra Exim Pvt Ltd                   Unallocated (LT / ST) ICRA]D /     8.9     Revised from
                                                              D              B+ /
                                                                                   A4
Reliance Communications Ltd             NCD                   A-     50000   Revised from
                                                                                   A+
Reliance Communications Ltd             LT Fund Based/Non-FBL A-     281160  Revised from
                                                                                   A+
Reliance Infratel Ltd                   LT Fund Based / Non   A-(SO) 10000   Revised from
                                        Fund Based Bk Fac                          A+(SO)
Reliance Telecom Ltd                    LT Fund Based / Non   A-     8670    Revised from
                                        Fund Based Bk Fac                          A+
S. D. Corporation Pvt Ltd               NCDs                  AA+    2000    Assigned
Industry                                                      (SO)
Saida Cold Storage Pvt Ltd              LT loans & working    D      62.5    Suspended
                                        capital Fac
Shree Damodar Coach Crafts Pvt          FBL                   B      54.6    Assigned
Ltd
Shree Govardhan Steels Pvt Ltd          FBL                   B+     78      Assigned
Space Age Research &                    LT FB Fac             BB+    193.6   Assigned
Technology Foundation
Charitable Trust
Sppl Hotels Pvt Ltd                     TL (Proposed)         BBB    1510    Assigned
Sri Lakshmi Satyanarayana Raw           FBL                   BB-    200     Assigned
& Boiled Rice
Sri Mittapalli Trust                    TL                    B+     80      Assigned
Sri Mittapalli Trust                    CC                    B+     10      Assigned
Stone Buildtech Pvt Ltd                 FB Limits             C+     90      Assigned
Sunrise Containers Ltd                  FBL - TL              A-     43.8    Reaffirmed
(reduced from Rs. 11.24 crore earlier)
Sunrise Containers Ltd                  FBL - CC              A-     250     Reaffirmed
(enhanced from Rs. 10.00 crore earlier)
Sunrise Containers Ltd                  FBL - External        A-     100     Assigned
                                        Commercial Borrowing
Thermax Babcock & Wilcox                TL                    A-     4370    Reaffirmed
Energy Solutions Pvt Ltd
Thermax Babcock & Wilcox                CC                    A-     1000    Reaffirmed
Energy Solutions Pvt Ltd
Venkata Ramana Charitable Trust         TL                    BB-    56.3    Assigned
Venkata Ramana Charitable Trust         CC                    BB-    22.3    Assigned
Vikas Cotton Industries Pvt Ltd         CC                    B-     85      Assigned
--------------------------------------------------------------------------------------------
$: 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below