December 15, 2016 / 10:30 AM / 8 months ago

ICRA ratings for Indian debt instruments-Dec 15

Dec 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 14, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
A. S. Export                            IndusInd Bk           ICRA A3      750*    Reaffirmed
                                        Limited-Export Post
                                        Finance (PSC) and Export Pre Finance(EPC): Fundbased
Limits
* consists Export Pre Finance (PC) sub-limit of Rs. 20.25 crore and Rs. 2.25 crore, Export Pre
Finance (PCDDA) sub-limit of Rs. 67.50 crore and Rs. 7.50 crore and direct Export sub-limit of
Rs. 67.50 crore and Rs. 7.50 crore
Adhunik Cement Ltd                      NFBL                  ICRA A2      700     reassigned
                                                                                   from  ICRA
                                                                                   A1(SO)
Burckhardt Compression (India)          ST Non FB Fac         ICRA A2+     100     Reaffirmed
Pvt Ltd
Concorde Motors (India) Ltd             ST Fac                ICRA A1      2320    Reaffirmed
Dewan Housing Finance                   ST Debt Programme     ICRA A1+     10000   Reaffirmed
Corporation Ltd
Dodla Dairy Ltd                         ST FB Fac             ICRA A1      300     Upgraded
                                                                                   from  ICRA
                                                                                   A2+
Futura Ceramics Pvt Ltd                 LOC                   ICRA A4+     30      Reaffirmed
Futura Ceramics Pvt Ltd                 BG                    ICRA A4+     5       Reaffirmed
Futura Ceramics Pvt Ltd                 Credit Exposure Limit ICRA A4+     6.1     Reaffirmed
Futura Ceramics Pvt Ltd                 Export Packing Credit ICRA A4+     -       Reaffirmed
                                        (Sublimit of CC)
Futura Ceramics Pvt Ltd                 Buyer's Credit        ICRA A4+     -       Reaffirmed
                                        (Sublimit of LOC)
Genisys Information Systems             ST - Non Fund Based   ICRA A4      15      Reaffirmed
(India) Pvt Ltd
Gurpreet Galvanising Pvt Ltd            NFBL                  ICRA A3      400     Upgraded
                                                                                   from  ICRA
                                                                                   A4+
Hotcrete Infrastructure Pvt Ltd         BG                    ICRA A3+     100     Assigned
Iifl Facilities Services Ltd            IPO Financing         ICRA A1+     12000   Withdrawn
                                        Programme
India Infoline Finance Ltd              IPO Financing         ICRA A1+     70000   Withdrawn
                                        Programme
India Infoline Ltd                      IPO Financing         ICRA A1+     5000    Withdrawn
                                        Programme
Indus Vegpro Pvt Ltd                    ST- Fund based        ICRA A4      50      Reaffirmed
Microtex Energy Pvt Ltd                 Non-FBL               ICRA A4+     90      Upgraded
                                                                                   from  ICRA A4
Orchev Pharma Pvt Ltd                   ST non-FB Fac         ICRA A4+     78      Suspended
Prabhat Dairy Ltd                       ST, NFBL              ICRA A1      200     Assigned
Saija Finance Pvt Ltd                   Social Performance    SP2+         -       Assigned
                                        Assessment
Sawlani Synthetics Pvt Ltd              ST non FBL- Value at  ICRA A4      25      Revised from
                                        Risk (VaR)                                  ICRA A4
Sunfresh Agro Industries Pvt            ST, NFBL              ICRA A1      300     Assigned
Ltd
Sushil Financial Services Pvt           ST non-fund based Bk  ICRA A4+     450     Reaffirmed
Ltd                                     lines
Sushil Financial Services Pvt           ST fund based Bk      ICRA A4+     35      Reaffirmed
Ltd                                     lines
Tirupathi Yarntex Spinners Pvt          ST - Non-FB Fac       ICRA A4      1.5*    Reaffirmed
Ltd
*sub-limit of CC
Tirupathi Yarntex Spinners Pvt          ST - Non-FB Fac       ICRA A4      -       Reaffirmed
Ltd


LONG TERM RATINGS:
-------------------
Aadhaar Seeds Pvt Ltd                   CC                    ICRA BB-     55      Suspended
Aadhaar Seeds Pvt Ltd                   TL                    ICRA BB-     8.9     Suspended
Aadhaar Seeds Pvt Ltd                   Unallocated Limits    ICRA BB-     12.1    Suspended
Adhunik Cement Ltd                      TL                    ICRA AA(SO)  2316.8  reassigned
                                                                                   from ICRA
                                                                                   A+ (SO)
Adhunik Cement Ltd                      FBL                   ICRA BBB(SO) 820     reassigned
                                                                                   from  ICRA
                                                                                   A+(SO)
Bharat Benefication And Pvt Ltd         Line of Credit        ICRA BBB-    400     Suspended
Blb Mall Management Company             LT Fund BasedTL       ICRA BBB     135.6   Revised from
Pvt Ltd                                                                            ICRA A-
Blb Mall Management Company             LT-Unallocated        ICRA BBB     284.4   Reaffirmed
Pvt Ltd
*sublimit of Cash credit facility
Burckhardt Compression (India)          LT - CC               ICRA BBB+    45      Reaffirmed
Pvt Ltd
Central Railside Warehouse Co.          Unallocated           ICRA A+      160     Reaffirmed
Ltd
Champion Commercial Co. Ltd             FB and Non-FBL        ICRA BB+ /   185     Revised from
                                                              ICRA A4+             ICRA BBB- /
                                                                                   ICRA A3
Champion Commercial Co. Ltd             Unallocated           ICRA BB+ /   65      Revised from
                                                              ICRA A4+             ICRA BBB- /
                                                                                   ICRA A3
Concorde Motors (India) Ltd             TL                    ICRA A-      150     Reaffirmed
Concorde Motors (India) Ltd             LT FB Fac             ICRA A-      30      Reaffirmed
Dodla Dairy Ltd                         TL                    ICRA A+      779.4   Upgraded
                                                                                   from ICRA A-
Dodla Dairy Ltd                         Unallocated limits    ICRA A+      70.6    Upgraded
                                                                                   from ICRA A-
Dodla Dairy Ltd                         Credit credit*        ICRA A+/A1   725     Upgraded
                                                                                   from ICRA
                                                                                   A-/A2+
*Cash credit interchangeable with short term loans
Druk Green Power Corporation            Issuer Rating         IrBBB+       -       Reaffirmed
Ltd
Futura Ceramics Pvt Ltd                 CC                    ICRA BB+     120     Reaffirmed
Futura Ceramics Pvt Ltd                 TL                    ICRA BB+     128.9   Reaffirmed
Futura Ceramics Pvt Ltd                 Unallocated Limit     ICRA BB+/A4+ 37      Reaffirmed
Genisys Information Systems             LT - TL               ICRA BB-     53.1    Revised from
(India) Pvt Ltd                                                                    ICRA BB
Genisys Information Systems             LT - Fund Based       ICRA BB-     90      Revised from
(India) Pvt Ltd                                                                    ICRA BB
Gurpreet Galvanising Pvt Ltd            FBL                   ICRA BBB-    300     Upgraded
                                                                                   from ICRA
                                                                                   BB+
Gurpreet Galvanising Pvt Ltd            Unallocated Limits    ICRA BBB-/A3 50      Upgraded
                                                                                   from ICRA
                                                                                   BB+/A4+
Hara Parbati Cold Storage Pvt           Line of Credit        ICRA C       70      Suspended
Ltd
Hotcrete Infrastructure Pvt Ltd         CCF                   ICRA BBB     447.6   Assigned
Hotcrete Infrastructure Pvt Ltd         Unallocated Limits    ICRA BBB /   452.4   Assigned
                                                              ICRA A3+
Indus Vegpro Pvt Ltd                    LT Fund Based         ICRA B+      5       Reaffirmed
Infant'S Travels Pvt Ltd                LT FB Fac             ICRA BB      150     Reaffirmed
Kalyan Roller Flour Mills Pvt           Fund Based/Non-FBL    ICRA B+/A4   100     Suspended
Ltd
Kandalaa                                LT scale - Fund       ICRA B+      110     Reaffirmed
                                        based/CC
Microtex Energy Pvt Ltd                 CC                    ICRA BB+     125     Upgraded
                                                                                   from ICRA BB
Microtex Energy Pvt Ltd                 Corporate TL          ICRA BB+     100     Upgraded
                                                                                   from ICRA BB
Om Corrugated Pack Pvt Ltd              TL                    ICRA B+      26.5    Reaffirmed
Om Corrugated Pack Pvt Ltd              CC                    ICRA B+      40      Reaffirmed
Om Corrugated Pack Pvt Ltd              Unallocated Limits    ICRA B+/A4   27      Assigned
Orchev Pharma Pvt Ltd                   CCF                   ICRA BB+     78      Suspended
Prabhat Dairy Ltd                       LT, FBL - TL          ICRA A+      375     Assigned
Prabhat Dairy Ltd                       LT, FBL - CC / WCDL   ICRA A+      1100    Assigned
Prabhat Dairy Ltd                       LT / ST unallocated   ICRA A+/A1   125     Assigned
                                        limits
Pratap Synthetics Ltd                   line of credit        ICRA BB /    237.2   Suspended
                                                              ICRA A4
(Reduced from Rs. 42.00 crore)
Raichur Roller Flour Mills              LT scale - CC         ICRA B       35      Reaffirmed
Raichur Roller Flour Mills              LT scale - TL         ICRA B       17.8    Reaffirmed
* consists Export Pre Finance (PC) sub-limit of Rs. 20.25 crore and Rs. 2.25 crore, Export Pre
Finance (PCDDA) sub-limit of Rs. 67.50 crore and Rs. 7.50 crore and direct Export sub-limit of
Rs. 67.50 crore and Rs. 7.50 crore.
Raichur Roller Flour Mills              LT scale - UnallocatedICRA B       22.2    Reaffirmed
Rajat Ispat Pvt Ltd                     Line of Credit        ICRA B+/A4   65      Suspended
Rao Construction Pvt Ltd                Limits                ICRA B/A4    119.8   Suspended
(enhanced from 5.24 CR)
Sajee Baba Grains Pvt Ltd               Line of Credit        ICRA B/A4    62      Suspended
Sawlani Synthetics Pvt Ltd              LT FBL- FBD/FBN/FBP   ICRA C+      120     Revised from
                                                                                   ICRA B-
Shah Laxmi Narayan Satish               FBL - Overdraft/ CC   ICRA B+      35      Reaffirmed
Chandra Exim Pvt Ltd
Shah Laxmi Narayan Satish               Non- FBL - LOC        ICRA B+/A4   64.5    Reaffirmed
Chandra Exim Pvt Ltd
(revised from 549.00 CR )
Shree Ganesh Cotton Industries          FB - CC               ICRA B       60      Reaffirmed
Shree Ganesh Cotton Industries          FB - TL               ICRA B       20      Reaffirmed
Sree Vijayalakshmi Rice                 LT Bk Fac             ICRA B+      55      Suspended
Industries
(reduced from (Rs. 6.50 crore))
Sri Ramadas Paper Boards Pvt            FBL - CC              ICRA BBB-    100     Reaffirmed
Ltd
(reduced from Rs.53.00 crore)
Sri Ramadas Paper Boards Pvt            FBL -TL               ICRA BBB-    100     Reaffirmed
Ltd
(reduced from Rs. 26.5 crore)
Sri Ramadas Paper Boards Pvt            Interchangeable       ICRA BBB-/A3 -       Reaffirmed
Ltd                                     limits*
(reduced from Rs. 10.5 crore)
*sublimit of Cash credit facility
Sunfresh Agro Industries Pvt            LT, FBL - CC / WCDL   ICRA A+      1500    Assigned
Ltd
Sunfresh Agro Industries Pvt            LT / ST unallocated   ICRA A+/A1   200     Assigned
Ltd                                     limits
Textrend Lifestyle Pvt Ltd              LT - CC               ICRA B       60      Upgraded
                                                                                   from ICRA B-
Tirupathi Yarntex Spinners Pvt          LT - TL               ICRA C+      71.4    Reaffirmed
Ltd
Tirupathi Yarntex Spinners Pvt          LT- FB Fac            ICRA C+      165     Reaffirmed
Ltd
Tirupathi Yarntex Spinners Pvt          LT - Non-FB Fac       ICRA C+      6       Reaffirmed
Ltd
Tirupathi Yarntex Spinners Pvt          Proposed limits       ICRA C+      126.1   Reaffirmed
Ltd
Vaibhav Laxmi Tex Pvt Ltd               LT - TL               ICRA B+      50      Reaffirmed
(enhanced from Rs.132.00 Crore)
Vaibhav Laxmi Tex Pvt Ltd               LT - CC               ICRA B+      40      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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