August 5, 2013 / 6:29 AM / 4 years ago

ICRA ratings for Indian debt instruments-Aug 5

Aug 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 2, 2013.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd                     LOC                   A4     40      Assigned
International Cylinders Pvt Ltd         ST Non-FB Fac         A4+    150     Assigned
Kalpesh Synthetics Pvt Ltd              ST, Non-FBL           A4     2.5     Reaffirmed
[reduced from Rs. 0.45 crore]
Kothari Auto Link Pvt Ltd               ST - Non fund based   A4+    2       Assigned
                                        (BG)
Revised from Rs. 0.00 crore
Padmasri Rice Mill                      ST NFBL               A4     0.3     Reaffirmed
Salaxmi Distributors                    CC                    A4     30      Suspended
Samruddha Resources Ltd                 ST FB sub-limit       BB-    300*    Revised from
                                                                                   B+
*Sub-limit of Rs. 30.00 crore long-term fund-based limit
Samruddha Resources Ltd                 ST Non-FBL            A4     30      Reaffirmed
Satyam Enterprises                      ST FB Limits          A3     1440    Revised from
                                                                                   A4+
(enhanced from 120cr)
Satyam Enterprises                      ST Non-FBL            A3     20      Revised from
                                                                                   A4+
(enhanced from 0.05cr)
United Rubber Industries                ST, FB Fac            D      55*     Revised from
(India) Pvt Ltd                                                                    A4
enhanced from Rs. 4.50 crore) *- Rs. 5.50 crore short-term, fund based facilities are sub-limit
of Rs. 16.50 crore long-term, fund based facilities with combined utilization limit of Rs. 16.50
crore
United Rubber Industries                ST, non-FB Fac        D      55      Revised from
(India) Pvt Ltd                                                                    A4
(enhanced from Rs. 4.50 crore)
Vasan Publications Pvt Ltd              ST non FB Fac         A2     90      Revised from
                                                                                   A3+
Vasant Chemicals Pvt Ltd                Non-FBL               A3     17.5    Reaffirmed
Venkateshwara Hatcheries Pvt            ST Fund Based         A2    3900    Revised from
Ltd                                                                                A2+
Venkateshwara Hatcheries Pvt            Non Fund Based        A2    498.5   Assigned
Ltd

LONG TERM RATINGS:
-------------------
Addi Alloys Pvt Ltd                     CC                    B      100     Assigned
Delhi Airport Metro Express             Rupee TL              BB(SO) 15085   Downgraded
Pvt Ltd                                                                            from
                                                                                   A(SO)
Delhi Airport Metro Express             External Commercial   BB(SO) 1060    Downgraded
Pvt Ltd                                 Borrowing                                  from
                                                                                   A(SO)
Gayatri Sri Narayana Swamy              LT FBL                B-     100     Assigned
Ginning Mill
International Cylinders Pvt Ltd         CC Limits             BB+    60      Assigned
International Cylinders Pvt Ltd         Stand-by Line of      BB+    5       Assigned
                                        Credit
International Cylinders Pvt Ltd         Long-TL (Vehicle      BB+    1       Assigned
                                        Loans)
Jagdambay Cotspin Ltd                   CC Limits             B      50      Assigned
Jagdambay Cotspin Ltd                   Long-TL               B      150     Assigned
Kalpesh Synthetics Pvt Ltd              LT, FB limits         B      139.1   Reaffirmed
[enhanced from Rs. 11.99 crore]
Kamakshi Cotton Industries              LT FBL                B      185     Reaffirmed
Ginning & Pressing Unit
Kothari Auto Link Pvt Ltd               LT - CC               BB     170     Reaffirmed
Revised from Rs. 20.40 crore
Kothari Auto Link Pvt Ltd               LT - TL               BB     65.8    Reaffirmed
Revised from Rs. 9.60 crore
Kothari Auto Link Pvt Ltd               LT - Unallocated      BB     62.2    Reaffirmed
Revised from Rs. 0.00 crore
Manmeet Alloys Pvt Ltd                  CC                    B      150     Assigned
Manmeet Alloys Pvt Ltd                  TL                    B      40.6    Assigned
Padmasri Rice Mill                      LT FBL                B      249.7   Reaffirmed
Rana Milk Foods Pvt Ltd                 FBL                   B      190     Reaffirmed
(enhanced from Rs. 15.50 crore)
Samruddha Resources Ltd                 LT FB Limit           BB-    300     Revised from
                                                                                   B+
Satyam Enterprises                      TL                    BB+    -       Withdrawn
(reduced from 1.95)
Supreme Audiotronics Pvt Ltd            FB Limits             B      58      Assigned
United Rubber Industries                Long-TL               D      50.8    Revised from
(India) Pvt Ltd                                                                    BB-
(enhanced from Rs. 4.08 crore)
United Rubber Industries                LT, FB Fac            D      165     Revised from
(India) Pvt Ltd                                                                    BB-
(enhanced from Rs. 12.00 crore)
Vasan Publications Pvt Ltd              TL Fac                BBB+   13.8    Revised from
                                                                                   BBB
Vasan Publications Pvt Ltd              LT FB Fac             BBB+   100     Revised from
                                                                                   BBB
Vasan Publications Pvt Ltd              LT non FB Fac         BBB+   2       Revised from
                                                                                   BBB
Vasan Publications Pvt Ltd              Proposed LT Fac       BBB+   44.3    Revised from
                                                                                   BBB
Vasant Chemicals Pvt Ltd                FBL -TL               BBB-   185.2   Reaffirmed
Vasant Chemicals Pvt Ltd                FBL - Working Capital BBB-   180     Reaffirmed
Vasant Chemicals Pvt Ltd                Unallocated limits    BBB-   17.3    Reaffirmed
                                                              / A3
Venkateshwara Hatcheries Pvt            TL                    BBB   4895.3  Revised from
Ltd                                                                                BBB +
Enhanced from Rs. 398.00 crore
Venkateshwara Hatcheries Pvt            CC                    BBB   2390    Revised from
Ltd                                                                                BBB +
Enhanced from Rs. 148.75 crore
--------------------------------------------------------------------------------------------
$: 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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