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ICRA ratings for Indian debt instruments-Dec 10
December 10, 2012 / 7:43 AM / 5 years ago

ICRA ratings for Indian debt instruments-Dec 10

Dec 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 7, 2012.


COMPANY                                 INSTRUMENT                RATING   AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------                ------   -----   ---------
SHORT TERM RATINGS:
-------------------
Acrysil Ltd                             ST FBL (EPC, FBP, SLC) A3     100     Reaffirmed
Acrysil Ltd                             ST non-FB Limits (LOC) A3     60      Reaffirmed
Acrysil Steel Ltd                       ST non-FBL            A3     5       Reaffirmed
                                                              (SO)
Active Char Products Pvt Ltd            ST, FB Fac            A4     96.2    Assigned
Aditya Birla Nuvo Ltd                   CP                    A1+    10000   Reaffirmed
Anil Special Steel Industries           LC/BG Limits          A4     256.7   Revised from
Pvt Ltd                                                                            A4+
Anil Special Steel Industries           Unallocated           A4     36.8    Revised from
Pvt Ltd                                                                            A4+
Bharat Bijlee Ltd                       CP                    A1+    400     Reaffirmed
Consolidated Construction               FB Fac                A3     1900    Revised from
Consortium Ltd                                                                     from A2
Consolidated Construction               Non-FB Fac            A3     12750   Revised from
Consortium Ltd                                                                     from A2
Dnh Projects Ltd                        Non Fund Based - BG   A4     100     Assigned
Him Teknoforge Ltd                      Non Fund Based (Rated A4+    260     Assigned
                                        on ST Scale)
Idfc Asset Management Company           IDFC Ultra ST Fund    A1+    -       Assigned
Pvt Ltd                                                       mfs
Idfc Asset Management Company           IDFC Cash Fund        A1+mfs -       Reaffirmed
Pvt Ltd
Il&Fs Securities Services Ltd           ST Debt Programme     A1+    1000    Reaffirmed
Il&Fs Transportation Networks           CP programme          A1     2000    Withdrawn
Ltd
Il&Fs Transportation Networks           CP programme          A1+    2000    Assigned
Ltd                                                           (SO)
Metro Exporters Pvt Ltd                 FBL                   A2     105     Reaffirmed
Metro Exporters Pvt Ltd                 Non-FBL               A2     45      Reaffirmed
Peregrine Guarding Pvt Ltd              ST, non fund based    A3     90      Suspended
                                        LOC and BG Fac
Prakash Dal & Flour Mills               *Non-FBL              A4+   37.5    Reaffirmed
*Non-fund based limits are a sub limit of the fund based limits and total 
utilisation shouldn't exceed Rs. 7.5 crore
Techno Spring Industries                NFBL (SLC)            A4+    2.6     Assigned
Trikoot Iron And Steel                  NFBL                  A4     60      Reaffirmed
Castings Ltd
Veto Ceramic Pvt Ltd                    BG                    A4     7       Assigned


LONG TERM RATINGS:
-------------------
Acrysil Ltd                             LT FB Limits          BBB-   20      Reaffirmed
Acrysil Ltd                             TL I                  BBB-   38.4    Reaffirmed
Acrysil Ltd                             TL II                 BBB-   20      Reaffirmed
Acrysil Steel Ltd                       LT FBL (CC)           BBB-   30      Reaffirmed
                                                              (SO)
Acrysil Steel Ltd                       TL I                  BBB-   22.8    Reaffirmed
                                                              (SO)
Acrysil Steel Ltd                       TL II                 BBB-   13.3    Reaffirmed
                                                              (SO)
Active Char Products Pvt Ltd            LT, TL                BB-    28.8    Assigned
Adilabad Expressway Pvt Ltd             FBL- TL               BBB-   3500    Reaffirmed
Aditya Birla Nuvo Ltd                   FBL                   AA+    17500   Reaffirmed
Enhanced from Rs. 1250.0 cr
Aditya Birla Nuvo Ltd                   TL                    AA+    7180.5  Reaffirmed
Aditya Birla Nuvo Ltd                   NCD                   AA+    10000   Reaffirmed
Aditya Birla Nuvo Ltd                   NFBL                  AA+    12500   Reaffirmed
                                                              /A1+
Anil Special Steel Industries           TL                    BB     326.5   Revised from
Pvt Ltd                                                                            BB+
Anil Special Steel Industries           Working Capital Limits BB     230     Revised from
Pvt Ltd                                                                            BB+
Bedmutha Industries Ltd                 TL                    BB /   77.5    Suspended
                                                              A4
Bedmutha Industries Ltd                 FBL                   BB /   490     Suspended
                                                              A4
Bedmutha Industries Ltd                 Non-FBL               BB /   240     Suspended
                                                              A4
Bharat Bijlee Ltd                       FBL*                  AA- /  750     Revised from
                                                              A1+            AA
*Completely interchangeable with FBP/PC/CP, hence to be rated on both 
the scales / (enhanced from Rs. 45.0 Crore)
Bharat Bijlee Ltd                       Non-FBLed*            AA- /  4000    Reaffirmed
                                                              A1+
*BGs are to be rated on both the scales and also completely interchangeable 
with LC which is to be rated on short term/ (enhanced from Rs. 350.0 Crore)
Cholamandalam Investment And            Subordinated          AA     500     assigned
Finance Co. Ltd                         Boptionally
                                        convertible debenturens
Consolidated Construction               TL                    BBB-   720.5   Revised from
Consortium Ltd                                                                     BBB+
Consolidated Construction               FB Fac                BBB-   3800    Revised from
Consortium Ltd                                                                     BBB+
Consolidated Construction               Proposed Fac          BBB-   450     Revised from
Consortium Ltd                                                                     BBB+
Consolidated Construction               NCD Programme         BBB-   500     Revised from
Consortium Ltd                                                                     BBB+
Dnh Projects Ltd                        Fund Based - CC       B      180     assigned
Genesis Infratech Pvt Ltd               Proposed LT FBL       C      150     Assigned
Globe Precision Industries (P)          FBL (Rated on LT      BB+    159     Assigned
Ltd                                     Scale)
Him Teknoforge Ltd                      Fund Based (Rated on  BB+    815     assigned
                                        LT Scale)
Idfc Asset Management Company           IDFC Money Manager    AAAmfs -       Reaffirmed
Pvt Ltd                                 Treasury Fund
Idfc Asset Management Company           IDFC Money Manager    AAAmfs -       Reaffirmed
Pvt Ltd                                 Investment Fund
Idfc Asset Management Company           IDFC Super Saver      AAAmfs -       Reaffirmed
Pvt Ltd                                 Income Fund ST Plan
India Infoline Finance Ltd              LT equity linked      PP-MLD       2000    Assigned
                                        debentures (principal AA-
                                        protected)
Manohar Filaments (P) Ltd               FBL and TL            BB     220     Withdrawn
Metro Exporters Pvt Ltd                 *FBL                  BBB    100     Reaffirmed
*The Fund based limit rated on long term scale is a sublimit of the 
fund based limit rated on short term scale and the combined utilisation 
should not exceed Rs. 10.
Palm Fibre (India) Pvt Ltd              TL Fac                BB-    15.1    Withdrawn
Peregrine Guarding Pvt Ltd              LT loans & working    BBB-   240     Suspended
                                        capital Fac
Prakash Dal & Flour Mills               FBL                   BB+   75      Reaffirmed
Tangling Mini Hydel Power               FB Limits - TL        ICRA]D       194     Revised from
Project                                                                            C
Tangling Mini Hydel Power               FB Limits -           ICRA]D       6       Revised from
Project                                 Unallocated                                C
Techno Spring Industries                FBL (TL)              BB+    32.5    assigned
Techno Spring Industries                FBL (CC)              BB+    54.6    assigned
Trikoot Iron And Steel                  TL                    BB     47.9    Reaffirmed
Castings Ltd
Trikoot Iron And Steel                  FBL                   BB     270     Reaffirmed
Castings Ltd
Ulhasnagar Municipal                    Issuer rating         IrBBB-       -       Suspended
Corporation Icra
Veto Ceramic Pvt Ltd                    CC                    B      30      Assigned
Veto Ceramic Pvt Ltd                    optionally            B      15      Assigned
                                        convertible debenture*
*Sub-limit of Cash Credit
Veto Ceramic Pvt Ltd                    TL                    B      37.2    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 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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