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ICRA ratings for Indian debt instruments-Mar 9
March 9, 2016 / 10:49 AM / 2 years ago

ICRA ratings for Indian debt instruments-Mar 9

Mar 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 8, 2016.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Appl Industries Ltd                     Non-FB Fac            A3     130     Reaffirmed
(enhanced from 10.00CR)
Enertech Engineering Pvt Ltd            NFBL                  A4     385.9   Reaffirmed /
                                                                                   Assigned
(revised from Rs 18.77 crore)
Isolloyd Engineering                    NFBL                  A3+    200     Revised from
Technologies Ltd                                                                   A2+
Krishnaveni Seeds And                   Non FB Fac/ BG        A4     1.1     Assigned
Fertilizers
Krishnaveni Seeds And                   Non FB Fac/ BG        A4     1.1     Assigned
Fertilizers
Lloyd Insulations India Ltd             NFBL                  A3+    5150    Revised from
                                                                                   A2+
R.K. Dhabhai Minerals &                 ST- Non Fund Based    D      22.1    revised from
Chemicals Pvt. Ltd.                                                                A4
Sri Maharaja Industries                 ST : Non Fund Based   A4     337.5   Reaffirmed
                                        Facility
Sri Maharaja Refineries                 ST : Non Fund Based   A4     393.8   Reaffirmed
                                        Facility

LONG TERM RATINGS:
-------------------
Antarctica Properties Co. Ltd           LT loans              D      744     Suspended
Appl Industries Ltd                     TL                    BBB-   459.5   Reaffirmed
(enhanced from 26.72CR)
Appl Industries Ltd                     CC Limits             BBB-   530     Reaffirmed
(enhanced from 26.00CR)
Appl Industries Ltd                     Proposed FB Fac       BBB-   0.5     Reaffirmed
(enhanced from 25.28CR)
Enertech Engineering Pvt Ltd            FBL                   BB-    67.3    Reaffirmed
(revised from Rs 10.97 crore)
Guru Kirpa Enterprises                  CC                    BB-    60      Reaffirmed
Isolloyd Engineering                    CC                    BBB    50      Revised from
Technologies Ltd                                                                   A-
Isolloyd Engineering                    TL                    BBB    12      Revised from
Technologies Ltd                                                                   A-
Isolloyd Engineering                    Unallocated           BBB    30      Revised from
Technologies Ltd                                                                   A-
Krishnaveni Seeds And                   FB Fac/ CC            BB-    50      Assigned
Fertilizers
Krishnaveni Seeds And                   FB Fac/ CC            BB-    50      Assigned
Fertilizers
Lloyd Insulations India Ltd             CC                    BBB    1060    Revised from
                                                                                   A-
Lloyd Insulations India Ltd             Unallocated           BBB    710     Revised from
                                                                                   A-
Maharaja Sathyam Industries             LT : fund based       B+     59      Revised from
Pvt Ltd                                 facility                                   BB
R.K. Dhabhai Minerals &                 LT- FBL               D      44.1    Revised from
Chemicals Pvt. Ltd.                                                                B
Shri Sode Vadiraja Mutt                 LT FB Fac             D      330     Suspended
Education Trust
Sonata Finance Pvt Ltd                  NCD programme         BBB    100     Assigned
Sonata Finance Pvt Ltd                  Subordinated Debt     BBB    150     Assigned
                                        Programme
Sri Maharaja Industries                 LT : Fund Based       B+     50      Downgraded
                                        facility                                   from
                                                                                   BB-
Sri Maharaja Refineries                 LT : Fund Based       B+     100     Downgraded
                                        facility                                   from
                                                                                   BB-
Sri Someshwara Projects Pvt Ltd         LT FB Fac             B+     200     Suspended
V Anantharaju & Sons                    LT fund based         BBB    111.4   Suspended
--------------------------------------------------------------------------------------------
$: 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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