October 12, 2016 / 10:01 AM / a year ago

ICRA ratings for Indian debt instruments-Oct 12

Oct 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 10, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Apex Frozen Foods Pvt Ltd               Foreign Bill Purchase A3     450     Reaffirmed
Apex Frozen Foods Pvt Ltd               LOC limits            A3     80      Reaffirmed
Bds Projects India Pvt Ltd              BG                    A4     72.5    Reaffirmed
Icon Granito Pvt Ltd                    Non-FBL - BG          A4+    21.5    Reaffirmed
Icon Granito Pvt Ltd                    Non-FBL - LOC         A4+    25      Reaffirmed
Icon Granito Pvt Ltd                    Non-FBL - Capex LOC / A4+            Reaffirmed
                                        Buyer Credit*
* Sublimit within term loan
Orfina Ceramic Pvt Ltd                  Non-FBL - Letter of   A4     20      Reaffirmed
                                        Guarantee
Orfina Ceramic Pvt Ltd                  Non-FBL - Bill        A4             Reaffirmed
                                        discount under LC*
* Sublimit cash credit facility
Saimax Ceramic Pvt Ltd                  Non-fund Based - BG   A4+    27.5    Reaffirmed
Shankara Sai Rice Industries            FBL                   A4     17.5    Suspended
The Gowthami Solvent Oils Ltd           Non-FB Fac            A4+    40      Reaffirmed


LONG TERM RATINGS:
-------------------
Apex Frozen Foods Pvt Ltd               CC Limits             BBB-   450     Reaffirmed
Apex Frozen Foods Pvt Ltd               TL Limits             BBB-   55.9    Reaffirmed
Apex Frozen Foods Pvt Ltd               Unallocated Limits    BBB-   33.7    Reaffirmed
                                                              / A3/
Bds Projects India Pvt Ltd              CC                    B      12.5    (Upgraded
                                                                                   from B-
Delhi Aviation Fuel Facility            TL                    A+     2200    Reaffirmed
Pvt Ltd
Eftec (India) Pvt Ltd                   LT/ST - Fund          BBB+/  170     Reaffirmed
                                        Based/Non Fund Based  A2
Gemini Aluminium Trading Co.            FBL                   B+     100     Suspended
Pvt. Ltd
Icon Granito Pvt Ltd                    FB Limit - CC         BB+    140     Reaffirmed
Icon Granito Pvt Ltd                    FB Limit - TL         BB+    100.8   Reaffirmed
Jivandhara Cotton Industries            FB -CC Limit          B+     140     Reaffirmed
Kaveri Cotex Pvt Ltd                    LT Scale - FBL - CC   B      140     Reaffirmed
Kaveri Cotex Pvt Ltd                    LT Scale - FBL - TL   B      2.8     Reaffirmed
Kaveri Cotex Pvt Ltd                    Unallocated Limits    B      4.7     Assigned
Late Shri Vishnu Waman Thakur           FBL rated on a LT     BBB-           Reaffirmed
Charitable Trust                        scale
Late Shri Vishnu Waman Thakur           TL                    BBB-   104.1   Reaffirmed
Charitable Trust
Manasa Rice Industry                    CC                    B+     90      Suspended
Manasa Rice Industry                    TL                    B+ /   13.7    Suspended
                                                              A4
Manasa Rice Industry                    Unallocated limits    B+ /   6.3     Suspended
                                                              A4
Orfina Ceramic Pvt Ltd                  FB Limit - CC         B      40      Reaffirmed
Orfina Ceramic Pvt Ltd                  FB Limit - TL         B      90      Reaffirmed
Saimax Ceramic Pvt Ltd                  FB - CC               B+     40      Reaffirmed
Saimax Ceramic Pvt Ltd                  FB - TL               B+     40.5    Reaffirmed
Shankara Sai Rice Industries            CC facility           B      17.5    Suspended
Shankara Sai Rice Industries            TL Fac                B      35      Suspended
Shankara Sai Rice Industries            unallocated limits    B /    30      Suspended
                                                              A4
Siddhi Cotton Industries                FB Limit - CC         B+     120     Reaffirmed
Skn Rice Industries                     BG                    B+ /   100     Suspended
                                                              A4
Sp Accure Labs Pvt Ltd                  Fund based Bk Fac     BB-    100     Suspended
The Gowthami Solvent Oils Ltd           CC                    BB     520     Reaffirmed
The Gowthami Solvent Oils Ltd           TL Fac                BB     222.4   Reaffirmed
The Gowthami Solvent Oils Ltd           Unallocated           BB     20.8    Reaffirmed
Umesh & Bros. Construction              FBL                   B+     30      Suspended
Umesh & Bros. Construction              NFBL                  B+     120     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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