October 10, 2016 / 11:47 AM / 9 months ago

ICRA ratings for Indian debt instruments-Oct 10

18 Min Read

Oct 10 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 7 & October 9, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Asia Bulk Sacks Pvt Ltd                 Export Packing Credit A4     180     Suspension
                                                                                   revoked
Asia Bulk Sacks Pvt Ltd                 LOC                   A4     65      Suspension
                                                                                   revoked
Brij Engineering Works                  NFBL- ST              A4     70      Assigned
Cargill Global Trading India            Fund Based/Non-FB Fac A1+    -       Reaffirmed
Pvt Ltd
Cargill Global Trading India            Cash-backed Letters   A1+    -       Reaffirmed
Pvt Ltd                                 of Credit (LCs)
Cargill Global Trading India            Proposed cash-backed  A1+    -       Assigned
Pvt Ltd                                 letters of credit
                                        (LCs)
Cargill Global Trading India            CP/STD Programme      A1+    3000    Withdrawn
Pvt Ltd
Cargill India Pvt Ltd                   Fund Based/Non-FB Fac A1+    -       Reaffirmed
Cargill India Pvt Ltd                   Cash-backed Letters   A1+    -       Reaffirmed
                                        of Credit (LCs)
Cargill India Pvt Ltd                   Proposed Cash-backed  A1+    22000   Reaffirmed
                                        Letters of Credit
                                        (LCs)
Cargill India Pvt Ltd                   CP/STD Programme      A1+    3000    Reaffirmed
Ceraflux India Pvt Ltd                  NFBL                  A3+    35.2    Withdrawn
Ceraflux India Pvt Ltd                  NFBL                  A3+    35.2    Withdrawn
Fx Multitech Pvt Ltd                    Forward Sales Contract A4     10      Reaffirmed
Fx Multitech Pvt Ltd                    Forward Purchase      A4     25      Reaffirmed
                                        Contract
Fx Multitech Pvt Ltd                    Foreign BG/BG         A4     10      Reaffirmed
Iic Technologies Ltd                    ST FBL (SLC)          A2     50      Reaffirmed
Iic Technologies Ltd                    ST NFBL               A2     270     Reaffirmed
Maheshwari Coal Benefication &          Non-FBL - BG          A4     20      Reaffirmed
Infrastructure Pvt Ltd
Maruti Meditech Pvt Ltd                 Non-FBL - LOC#        A4             Reaffirmed
# Sub-limit of Cash Credit Limit
Maruti Meditech Pvt Ltd                 Non-FBL - Forward     A4             Reaffirmed
                                        Contract#
# Sub-limit of Cash Credit Limit
Rk Babu Trading Pvt Ltd                 ST, NFBL - BG         A4    20      Reaffirmed
Rk Babu Trading Pvt Ltd                 ST, NFBL - BG         A4    20      Reaffirmed
Rolex Hosiery Pvt Ltd                   FBL                   A3+   135     Reaffirmed
Rolex Hosiery Pvt Ltd                   Unallocated           A3+   5       Reaffirmed
Sharu Steels Pvt Ltd                    LOC                   A4     170     Reaffirmed
Shiva Polytubes Pvt Ltd                 Non-FBL - LOC#        A4+   15      Reaffirmed
# Sub-limit of Cash Credit Limit
Shiva Polytubes Pvt Ltd                 Non-FBL - BG#         A4+   5       Reaffirmed
# Sub-limit of Cash Credit Limit
Shiva Polytubes Pvt Ltd                 Non-FBL - LOC#        A4+            Reaffirmed
# Sub-limit of Cash Credit Limit
Shiva Polytubes Pvt Ltd                 Non-FBL - BG #        A4+            Reaffirmed
# Sub-limit of Cash Credit Limit
Space Textiles Pvt Ltd                  ST - FB Fac           A3+    50      Reaffirmed
Taurus Packaging Pvt Ltd                NFBL                  ICRA]A4      15      Reaffirmed
Tinna Rubber & Infrastructure           FBL-CC                A4     180     Reaffirmed
Ltd
Tinna Rubber & Infrastructure           Non fund based-BG     A4     120     Reaffirmed
Ltd
U Goenka Sons Pvt Ltd                   Non Fund Based- LOC   A4     270     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
LIC Technologies Ltd                    Fixed Deposits        M A          60      Reaffirmed
                                        Programme

LONG TERM RATINGS:
-------------------
Ab Hotels Ltd                           TL                    BB+    200     Revised from
                                                                                   BBB-
Ab Hotels Ltd                           LT Unallocated Limits BB+    600     Revised from
                                                                                   BBB-
Amrut Distilleries Pvt Ltd              Fund based - CC       BBB+   100     Assigned
Ascendum Solutions India Pvt            LT - TL               BB-    250     Upgraded
Ltd                                                                                from B+
Ascendum Solutions India Pvt            LT - Fund Based       BB-    50      Upgraded
Ltd                                                                                from B+
Asia Bulk Sacks Pvt Ltd                 TL                    B      91.6    Upgraded
                                                                                   from
                                                                                   B-; 
Asia Bulk Sacks Pvt Ltd                 CC*                   B      65      Upgraded
                                                                                   from
                                                                                   B-; 
*sub limit of Export Packing Credit
Asia Bulk Sacks Pvt Ltd                 Unallocated limits    B /    99.4    assigned
                                                              A4
Best Steel Logistics Ltd                TL                    A-     250     Assigned
Brij Engineering Works                  FBL- LT               B+     5       Assigned
Cargill Global Trading India            Fund Based/Non-FB Fac AA+ /  -       Reaffirmed
Pvt Ltd                                                       A1+
Cargill India Pvt Ltd                   Fund Based/Non-FB Fac AA+ /  -       Reaffirmed
                                                              A1+
Ceraflux India Pvt Ltd                  FBL - CC              BBB    130     Withdrawn
Ceraflux India Pvt Ltd                  FBL - CC              BBB    130     Withdrawn
Durha Vitrak Pvt Ltd                    Bk Lines              BB-   258     Withdrawn
Durha Vitrak Pvt Ltd                    Bk lines              BB-    258     Withdrawn
Foundation Engineering Company          Bk Fac                BB    -       Suspended
Foundation Engineering Company          LT Bk Fac             BB     70.9    Suspended
Fx Multitech Pvt Ltd                    TL                    BB-    4.4     Reaffirmed
Fx Multitech Pvt Ltd                    CC Limit              BB-    40      Reaffirmed
Fx Multitech Pvt Ltd                    Packaging credit Limit BB-    30      Reaffirmed
Iic Technologies Ltd                    TL Limits             BBB+   158.1   Reaffirmed
Iic Technologies Ltd                    LT FBL                BBB+   220     Reaffirmed
Iic Technologies Ltd                    Unallocated Limits    BBB+   8.3     Reaffirmed
                                                              / A2
Kamala Ginning And Oil                  LT FBL                B      300     Reaffirmed
Industries
Kamala Ginning And Oil                  LT Unallocated limits B      20      Reaffirmed
Industries
L&T Transportation                      TL                    AA     776     Reaffirmed
Infrastructure Ltd
Laxmi Balaji Industries                 CC                    B+     125     Reaffirmed
Laxmi Balaji Industries                 TL                    B+     3.9     Reaffirmed
Laxmi Balaji Industries                 Unallocated           B+     41.1    Reaffirmed
M/S. Ashutosh Bandyopadhayay            Fund Based -CC /      B      90      Outstanding
                                        Dropline Overdraft
M/S. Ashutosh Bandyopadhayay            Unallocated Limits    B/A4   110     Outstanding
                                                                                   / Assigned
Maheshwari Coal Benefication &          Unallocated           B      24.6    Reaffirmed
Infrastructure Pvt Ltd
Maheshwari Coal Benefication &          FB Limit - CC         B      60      Reaffirmed
Infrastructure Pvt Ltd
Maruti Meditech Pvt Ltd                 FB Limit - TL         BB-    26.9    Reaffirmed
Maruti Meditech Pvt Ltd                 FB Limit - CC         BB-    31      Reaffirmed
Maruti Meditech Pvt Ltd                 FB Limit - Untied     BB-    6.5     Assigned
                                        limits
Mohan Rao And Company                   LT FBL                B     100     Reaffirmed
Mohan Rao And Company                   LT Unallocated limits B     20      Reaffirmed
Mohan Rao And Company                   LT FBL                B      100     reaffirmed;
                                                                                   Suspension
                                                                                   Revoked
Mohan Rao And Company                   LT Unallocated limits B      20      reaffirmed;
                                                                                   Suspension
                                                                                   Revoked
Mojika Real Estate &                    FB-TL                 BB-    150     Reaffirmed
Developers Pvt Ltd
Mojika Real Estate &                    FB-TL                 BB-    150     Reaffirmed
Developers Pvt Ltd
Narayan Cold Storage Pvt Ltd            FBL - Drop-line       B      83.5    Reaffirmed
                                        Overdraft Limit
Narayan Cold Storage Pvt Ltd            FBL - Untied Limit    B      6.5     Reaffirmed
Northern India Media Pvt Ltd            NCD                   AAA    1450    Withdrawn
Power Research And Development          Fund Based - CC       ICRA]B+      60      Reaffirmed
Consultants Pvt Ltd
Power Research And Development          Non Fund Based - BG   ICRA]B+      35      Reaffirmed
Consultants Pvt Ltd
Psk Infrastructure And                  FBL - CC              BBB    150     Upgraded
Projects Pvt Ltd                                                                   from
                                                                                   BBB-
Psk Infrastructure And                  Non FBL - BG          BBB    950     Upgraded
Projects Pvt Ltd                                                                   from
                                                                                   BBB-
Rk Babu Trading Pvt Ltd                 LT, FBL- CC           BB-   110     Reaffirmed
Rk Babu Trading Pvt Ltd                 LT, FBL - TL          BB-   12      Reaffirmed
Rk Babu Trading Pvt Ltd                 LT, FBL- CC           BB-   110     Reaffirmed
Rk Babu Trading Pvt Ltd                 LT, FBL - TL          BB-   12      Reaffirmed
Sankalp Realmart Pvt Ltd                TL                    B+     100     upgraded
                                                                                   from B
Shakti Murugan Industries               FB Fac                B      130     Suspended
Shakti Murugan Industries               Unallocated Limits    B/A4   30      Suspended
Sharu Steels Pvt Ltd                    CC                    B+     170     Reaffirmed
Sharu Steels Pvt Ltd                    TL                    B+     4.8     Reaffirmed
Sharu Steels Pvt Ltd                    LT / ST               B+ /           Reaffirmed
                                        Interchangeable       A4
Shiva Polytubes Pvt Ltd                 FB Limit - CC         BB+   65      Reaffirmed /
                                                                                   Assigned
Shiva Polytubes Pvt Ltd                 FB Limit - Untied     BB+   25.6    Reaffirmed /
                                        limits                                     Assigned
Shiva Polytubes Pvt Ltd                 FB Limit - CC         BB+    65      Reaffirmed /
                                                                                   Assigned
Shiva Polytubes Pvt Ltd                 FB Limit - Untied     BB+    25.6    assigned
                                        limits
Shivam Cotton & Oil Industries          CC                    B      80      Reaffirmed
Shivam Cotton & Oil Industries          TL                    B      7.9     Reaffirmed
Shivam Cotton & Oil Industries          Unallocated           B      8.6     Reaffirmed
Sobha Projects And Trade Pvt            LT - FB working       BB-    250     Assigned
Ltd                                     capital limits
Space Textiles Pvt Ltd                  LT - TL Fac           BBB    206.7   reaffirmed /
                                                                                   Assigned
Space Textiles Pvt Ltd                  LT - FB Fac           BBB    1350    reaffirmed /
                                                                                   Assigned
Space Textiles Pvt Ltd                  Non-FB Fa             ICRA]BBB     47.5    reaffirmed /
                                                              (Stable) /           Assigned
                                                              A3+
Space Textiles Pvt Ltd                  LT/ST - Proposed Fac  ICRA]BBB     62.9    reaffirmed /
                                                              (Stable) /           Assigned
                                                              A3+
Taurus Packaging Pvt Ltd                FBL-CC                ICRA]BB      65      Upgraded
                                                                                   from
                                                                                   BB-
Taurus Packaging Pvt Ltd                FBL-TL                ICRA]BB      16      Upgraded
                                                                                   from
                                                                                   BB-
Taurus Packaging Pvt Ltd                Unallocated Limits    ICRA]BB / A4 4       Upgraded
                                                                                   from
                                                                                   BB-/
                                                                                   A4
Tinna Rubber & Infrastructure           Fund Based-TL         BB-    320     Reaffirmed
Ltd
U Goenka Sons Pvt Ltd                   Fund Based-CC         B      10      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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