January 22, 2013 / 5:34 AM / 5 years ago

ICRA ratings for Indian debt instruments-Jan 22

Jan 22 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 21, 2013.

COMPANY                                 INSTRUMENT                RATING   AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------                ------   -----   ---------
SHORT TERM RATINGS:
-------------------
Accent Metals Pvt Ltd                   Non-FBL               A4     75      Reaffirmed
Asha Cotex                              ST-FBL- optionally    A4     6       Suspended
                                        convertible
                                        debentureBD
Bharat Cottage Industries               ST NFBL               A4     37      Reaffirmed
Enhanced from Rs 0.10 crore
Bhavya Cements Ltd                      ST NFBL               A4+    70      Suspended
Dahyabhai B. Patel                      BG                    A4     50      Assigned
Essel Marketing & Promotions            ST, non-fund based -  A4     25      Reaffirmed
Pvt Ltd                                 LOC *
* Interchangeable with Buyer's Credit.(enhanced from Rs 0.50 crore)
Jkc General Trading Company             FBL                   A4+    70      Reaffirmed
Jkc General Trading Company             Sub-limit: FBL        A4+    35      Reaffirmed
Kailash Infratech Pvt Ltd               ST FB Fac             A4     10      Assigned
M/S Parishi Diamonds                    EPC                   A4     40      Assigned
M/S Parishi Diamonds                    PSC                   A4     80      Assigned
Padham Steel Enterprises Pvt            ST Non FBL- LOC       A4+    150     Reaffirmed
Ltd
Paracoat Products Ltd                   Non FBL - ILC/FLC     A3     50      Reaffirmed
Enhanced from Rs. 5.00 crore
Paracoat Products Ltd                   Non FBL - BG          A3     5       Reaffirmed
Repco Home Finance Ltd                  IPO grading           IPO Grade 3          Assigned
Rudraksh Laminates Pvt Ltd              Non FB Fac            A4     25      Reaffirmed

LONG TERM RATINGS:
-------------------
Accent Metals Pvt Ltd                   TL                    B+     58.2    Revised from
                                                                                   BB
Accent Metals Pvt Ltd                   FB limits             B+     150     Revised from
                                                                                   BB
Asha Cotex                              LT-FBL - CC           BB-    80      Suspended
Bharat Cottage Industries               LT Scale FBL          B+     85      Reaffirmed
Enhanced from Rs.7.50
Bharat Cottage Industries               TL                    B+     18.9    Reaffirmed
Enhanced from Rs.0.39 crore
Bhavya Cements Ltd                      LT FBL                BB+    2410    Suspended
Dahyabhai B. Patel                      CC                    B+     40      Assigned
Energy Infratech Pvt Ltd                Non-FBL               BBB-   150     Reaffirmed
                                                              / A3
Essel Marketing & Promotions            LT, fund based - CC   B+     72      Reaffirmed
Pvt Ltd
(reduced from Rs 8.50 crore)
Guru Kirpa Agro Foods                   CC                    BB-    68      Reaffirmed
(enhanced from Rs. 5.50 crore)
Guru Kirpa Agro Foods                   TL                    BB-    2       Reaffirmed
Intec Capital Ltd                       Bk Lines              BBB    4700    Reaffirmed
(enhanced from Rs 220 crore
Jabalpur Hospital And Research          LT FBL                B      81.2    Assigned
Centre
Jabalpur Hospital And Research          Unallocated           B      8.8     Assigned
Centre
Kailash Infratech Pvt Ltd               LT FB Fac             B+     50      Assigned
Maharaja Shree Umaid Mills Ltd          TL                    BBB    1965.3  Downgraded
                                                                                   from
                                                                                   BBB+
Maharaja Shree Umaid Mills Ltd          CC Limits             BBB    250     Downgraded
                                                                                   from
                                                                                   BBB+
Maharaja Shree Umaid Mills Ltd          NFBL                  BBB    9.7     Downgraded
                                                                                   from
                                                                                   BBB+
Maharaja Shree Umaid Mills Ltd          CC Limits/ST Loans^   BBB/   850     Downgraded
                                                              A3+            from
                                                                                   BBB+/
                                                                                   A2+
^ Cash Credit limits 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          NFBL#                 BBB/   50      Downgraded
                                                              A3+            from
                                                                                   BBB+/
                                                                                   A2+
# Non Fund based limits interchangeable and 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          Unallocated           BBB/   156.8   Downgraded
                                                              A3+            from
                                                                                   BBB+/
                                                                                   A2+
Mahindra Vehicle Manufacturers          LT, FB Bk Fac         AA     4500    Reaffirmed
Ltd
Reduced from Rs. 1,250.0 crore
Mahindra Vehicle Manufacturers          NCD programme         AA     8000    Reaffirmed
Ltd
Matoshree Cotton Pvt Ltd                LT-FBL - CC           B+     60      Suspended
Padham Steel Enterprises Pvt            LT FBL - CC           BB     100     Reaffirmed
Ltd
Padham Steel Enterprises Pvt            Proposed Limit        BB     150     Reaffirmed
Ltd                                                           / A4+
Paracoat Products Ltd                   FBL - TL              BBB-   79.7    Reaffirmed
Reduced from Rs. 8.10 crore
Paracoat Products Ltd                   FBL - CC              BBB-   130     Reaffirmed
Enhanced from Rs. 11.00 crore
Rudraksh Laminates Pvt Ltd              TL                    B+     27      Reaffirmed
Rudraksh Laminates Pvt Ltd              FB Fac                B+     45      Reaffirmed
Subba Microsystem Ltd                   FBL (TL)              D      295.2   Assigned
Teesta Rangit Pvt Ltd                   FBL (TL)              D      400     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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