December 12, 2016 / 9:08 AM / 7 months ago

ICRA ratings for Indian debt instruments-Dec 12

12 Min Read

Dec 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 9, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A.B. Sugars Ltd                         LOC/ BG               ICRA A3      300     revised from
                                                                                   ICRA A4+
Alstone International                   Non-FB Fac            ICRA A2      100     Upgraded
                                                                                   from ICRA A3+
Bazargaon Paper And Pulp Mills          ST NFBL               ICRA A4      5       Assigned
Pvt Ltd
Dynamic Ship Recyclers Pvt Ltd          LOC                   ICRA A4      316     Withdrawn
Echjay Forgings Pvt Ltd                 Non Fund Based        ICRA A4      94.2    Assigned/
                                                                                   outstanding
enhanced from 5 CR
Eid Mohammed Nizammudin                 ST NFBL               ICRA A4+     100     Assigned
Emmanuel Cashew Industries              ST fund based and non ICRA A4+     200     Suspended
                                        FB Fac
Eswar Print 'N' Pack Pvt Ltd            NFBL                  ICRA A4      3       Suspended
Himson Engineering Pvt Ltd              FBL - Packing Credit  ICRA A4      10      Reaffirmed
Himson Engineering Pvt Ltd              Non-FBL - Import LOC  ICRA A4      10      Reaffirmed
Mac Chem Products (India) Pvt           BG                    ICRA A4      5       Reaffirmed
Ltd
Metal Alloys Corporation                Non-fund Based - LC/BGICRA A4      50      Reaffirmed
Nakoda Products                         Solar projects        SP 3C                Assigned
Reliance Commodities Ltd                ST non-fund based Bk  ICRA A1+     2000    Reaffirmed
                                        Fac
Reliance Securities Ltd                 ST Non-Fund Based Bk  ICRA A1+     4000    Reaffirmed
                                        Fac
Reliance Securities Ltd                 CP Programme          ICRA A1+     1000    Reaffirmed
Royalex Fashions (India) Pvt            ST-Fund Based-SLC     ICRA A2      20      Reaffirmed
Ltd
Royalex Fashions (India) Pvt            Short Tem- Non Fund   ICRA A2      0.5     Reaffirmed
Ltd                                     Based- LC
Sunalco Alloys Pvt Ltd                  ST FBLed              ICRA A4+             Reaffirmed
Sunalco Alloys Pvt Ltd                  ST NFBL               ICRA A4+             Reaffirmed
Supran Exim Pvt Ltd                     NFBL                  ICRA A4      8.4     Assigned
Supran Exim Pvt Ltd                     NFBL                  ICRA A4      8.4     Assigned

LONG TERM RATINGS:
-------------------
A.B. Sugars Ltd                         TL                    ICRA BBB-    259.7   revised from
                                                                                   ICRA BB+
A.B. Sugars Ltd                         CC Limit              ICRA BBB-    1100    revised from
                                                                                   ICRA BB+
A.B. Sugars Ltd                         Unallocated Fundbased ICRA BBB-    772.2   revised from
                                        Limit                                      ICRA BB+
Alstone International                   FB Bk Fac             ICRA BBB+    80      Upgraded
                                                                                   from ICRA BBB
Bazargaon Paper And Pulp Mills          LT FB limits: CC      ICRA B-      72.5    Assigned
Pvt Ltd
Bazargaon Paper And Pulp Mills          LT FB limits: TL      ICRA B-      15      Assigned
Pvt Ltd
Bazargaon Paper And Pulp Mills          Unallocated LT/ST     ICRA         7.5     Assigned
Pvt Ltd                                                       B-/ICRA A4
C.A.V. Cotton Mills Pvt Ltd             Bk Fac                ICRA D       260.4   Suspended
Celcon Green Ltd                        Bk Fac                ICRA C       195     Suspended
Celcon Green Ltd                        Bk Fac                ICRA C       195     Suspended
Dynamic Ship Recyclers Pvt Ltd          Fund Based (CC)       ICRA BB      7       Withdrawn
Echjay Forgings Pvt Ltd                 Fund Based-CC         ICRA BB-     215     Assigned/
                                                                                   outstanding
enhanced from 9.42 CR
Echjay Forgings Pvt Ltd                 Fund Based-TL         ICRA BB-     5.8     Outstanding
Eco Rrb Infra Pvt Ltd                   LT FB Fac - TL        ICRA B       210     Revised from
                                                                                   ICRA B+
Eid Mohammed Nizammudin                 LT FBL                ICRA BB      50      Assigned
Emmanuel Cashew Industries              LT FB Fac             ICRA BB      50      Suspended
Eswar Print 'N' Pack Pvt Ltd            FB Fac                ICRA B+      53.3    Suspended
Eswar Print 'N' Pack Pvt Ltd            Unallocated limits    ICRA B+ /A4  23.7    Suspended
Himson Engineering Pvt Ltd              FBL - CC              ICRA B       107.4   Revised from
                                                                                   ICRA B+
Lakshmi Venkata Sai Rice                Fund based Bk Fac     ICRA B-      80      Suspended
Industries
Mac Chem Products (India) Pvt           TL facility           ICRA BB      69.5    Reaffirmed
Ltd
Mac Chem Products (India) Pvt           CC facility           ICRA BB      185     Reaffirmed
Ltd
Metal Alloys Corporation                Fund based - Working  ICRA BB-     120^    Reaffirmed
                                        Capital
^EPC of Rs. 6.50 crore as sub-limit
Noel Pharma (India) Pvt Ltd             FB Fac                ICRA B       376.9   Suspended
Noel Pharma (India) Pvt Ltd             unallocated limits    ICRA B/ICRA  53.1    Suspended
                                                              A4
Reliance Jio Infocomm Ltd               NCD                   ICRA AAA     200000  Reaffirmed
Reliance Jio Infocomm Ltd               NCD                   ICRA AAA     30000   Assigned
Rmz Infotech Pvt Ltd                    LT Scale - TL         ICRA A+      12891   Upgraded
                                                                                   from ICRA A
enhanced from 1,144.24 CR
Rmz Infotech Pvt Ltd                    LT Scale - NCD        ICRA A+      6400    Upgraded
                                        Programme                                  from ICRA A
Royalex Fashions (India) Pvt            LT-TL                 ICRA BBB     100     Assigned
Ltd
Royalex Fashions (India) Pvt            LT - Fund Based- CC   ICRA BBB     210     Reaffirmed
Ltd
Sat India Ltd                           LT FBL                ICRA B-              Assigned
Sat India Ltd                           CC                    ICRA B-      55      Assigned
Sidhant Creations Pvt. Ltd.             Fund based Bk Fac     ICRA BB-     214.3   Suspended
Siva Sai Exports                        FBL                   ICRA B       112.5   Suspended
Siva Sai Exports                        Unallocated limits    ICRA B       17.5    Suspended
Southern Motorcycles                    FB Fac                ICRA BB      160     Withdrawn
Srinithi Enterprises Pvt Ltd            Bk Fac                ICRA BB-     90      Suspended
Sunalco Alloys Pvt Ltd                  LT FBL                ICRA BB+     550     Reaffirmed
Sunalco Alloys Pvt Ltd                  Unallocated Amount    ICRA BB+     50      Reaffirmed
                                                              /A4+
Supran Exim Pvt Ltd                     Export Packing Credit ICRA BB-     150     Reaffirmed
Supran Exim Pvt Ltd                     CC                    ICRA BB-     10      Reaffirmed
Supran Exim Pvt Ltd                     Unallocated limits    ICRA BB-     1.6     Reaffirmed
Supran Exim Pvt Ltd                     Export Packing Credit ICRA BB-     150     Reaffirmed
Supran Exim Pvt Ltd                     CC                    ICRA BB-     10      Reaffirmed
Supran Exim Pvt Ltd                     Unallocated limits    ICRA BB-     1.6     Reaffirmed
Unique Gems                             Fund Based-CC         ICRA BB+     250     Assigned
enhanced from 15.00 cr
Unique Gems                             Unallocated           ICRA BB+     50      Outstanding
Vital Construction Pvt Ltd              TL                    ICRA A+ (SO) 2520    Upgraded
                                                                                   from ICRA
                                                                                   A(SO)
--------------------------------------------------------------------------------------------
$: 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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