December 27, 2016 / 10:37 AM / 9 months ago

ICRA ratings for Indian debt instruments-Dec 27

Dec 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 26, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Amber Exports (India)                   Packing Credit        A2             Reaffirmed
Ambika Overseas                         non-FB Bk Fac         A4     10      Suspended
Anupam Industries Ltd                   ST FBL                D      1080    Suspended
Anupam Industries Ltd                   ST Non- FBL           D      2090    Suspended
Amroon Foods Pvt Ltd                    Working Capital       A3     1250    Assigned
Art India                               ST FB Limits          A4     36      Reaffirmed
Atlas Cycles (Haryana) Ltd              ST - NFBL             A4     295     Reaffirmed
Atlas Exports (India)                   Packing Credit        A2+            Reaffirmed
Bhagwandas Metals Ltd                   Non-FB Fac            A4     55      Suspended
Delta Corp Ltd                          ST, FB Bk Fac         A3+    225     Reaffirmed
revised from Rs 6.50 crore
Everon Castings Pvt Ltd                 FB Fac (sub limit)    A4     130     Suspended
Everon Castings Pvt Ltd                 non-FB Fac            A4     30      Suspended
Express Way Truck Terminus Pvt          NFBL                  A4     20      Suspended
Ltd
Fair Exports (India) Pvt Ltd            Working Capital       A3     1950    Assigned
Fil Sep Equipments Pvt Ltd              BG                    A4     60      Reaffirmed
Fil Sep Equipments Pvt Ltd              LOC                   A4     10      Reaffirmed
Garuda Fashions Pvt Ltd                 ST - Non Fund Based   A4+    9       Reaffirmed
Health Care Energy Foods Pvt            NFBL- ST              A3     70      Suspended
Ltd
Highstreet Cruises &                    ST, FB Bk Fac         A3+    95      Reaffirmed
Entertainment Pvt Ltd
Revised from Rs 6.50 crore
Religare Finvest Ltd                    ST Debt programme     A1+    10000   Outstanding
Kataria Industries Pvt Ltd              LOC                   A4+    25      Assigned
Kataria Industries Pvt Ltd              LOC*                  A4+            Assigned
*Sub limit of Bank Guarantee
Kataria Industries Pvt Ltd              BG                    A4+    440     Assigned
M/S Onsaz Jewellery Creations           NFBL                  A4     20      Suspended
Micropack Ltd                           Non FB Fac            A3+    7.5     Suspended
Celebrity Fashions Ltd                  ST FB Fac             D      480     Suspended
Celebrity Fashions Ltd                  ST Non-FB Fac         D      115     Suspended
Minox Metal Pvt Ltd                     ST - Non Fund Based   A4     450     Reaffirmed
                                        (ILC/FLC/Buyer's
                                        Credit)
Enhanced from 35 CR
Nand Kishore & Sons                     NFBL- ST              A4;    300     Suspended
Prakash Retail Pvt Ltd                  FB Fac                A4+    180     Reaffirmed
enhanced from Rs. 13.0cr
Rajkrishna Aditya Auto Store            ST Non Fund Based     A4     30.5    Reaffirmed
Pvt Ltd
Religare Finvest Ltd                    ST Bk Limits          A1+    6000    Outstanding
Rajkrishna Aditya Auto Store            ST Non Fund Based     A4     30.5    Reaffirmed
Pvt Ltd
Sehore Agri Services Pvt Ltd            Non-FBL- BG (BG)      A2+    15**    Reaffirmed
                                                              (SO)
**Short-term loan of Rs. 0.65 crore is a sublimit of bank guarantee rated at 
ICRA]A2+(SO) and Cash credit limit of Rs. 0.65 crore is also a sublimit of bank 
guarantee rated at A- (SO) (Stable) 
Shri Shanker Gauri Agro                 Unallocated Limits- ST A4     8.1     Suspended
Product Pvt Ltd
Slo Steel Industries Ltd                Non-FB Fac            A4     150     Suspended
Sri Kannapiran Mills Ltd                ST FB Fac             A4+    170     Upgraded
                                                                                   from A4
Sri Kannapiran Mills Ltd                ST non FB Fac         A4+    160     Upgraded
                                                                                   from A4
Sun Metallics & Alloys Pvt Ltd          ST non-FBL            A4     115     Revised from
                                                                                   A4+

LONG TERM RATINGS:
-------------------
Adarsha Motor Sales Pvt Ltd             FB Fac                BB-    77.7    Reaffirmed
Adarsha Motor Sales Pvt Ltd             Unallocated           BB-    2.3     Reaffirmed
Aditya Automobile Spares Pvt            LT FB                 BB-    100     Reaffirmed
Ltd
Adven Biotech Pvt Ltd                   FB Bk Fac             B      75      Suspended
Amber Exports (India)                   Foreign Bill Purchase BBB    150     Reaffirmed
Ambika Overseas                         FB Bk Fac             B      170     Suspended
Amit Constructions                      Bk Fac                B+ /A4 120     Suspended
Anupam Industries Ltd                   TL                    D      669.1   Suspended
Anupam Industries Ltd                   FBL                   D      0.9     Suspended
Art India                               LT FB Limits          BB-    15.8    Upgraded
                                                                                   from B+
Atlas Cycles (Haryana) Ltd              LT - FBL              B+     480     Upgraded
                                                                                   from B
Atlas Cycles (Haryana) Ltd              LT - NFBL             B+     2.5     Upgraded
                                                                                   from B
Atlas Cycles (Haryana) Ltd              Unallocated           B+     68      Upgraded
                                                                                   from B
Atlas Exports (India)                   Foreign Bill Purchase BBB+   100     Reaffirmed
Reduced from Rs. 15.00 crore
Bhagwandas Metals Ltd                   FB Fac                B+     30      Suspended
Bharani Commodities Pvt Ltd             Unallocated Limits    BB-    100     Assigned
                                                              /A4
Bharti Farms India (P) Ltd              Bk Fac                D      122.4   Suspended
Bharti Research And Breeding            Bk Fac                D      201.7   Suspended
Farm
Blue Wings Tours & Travels Pvt          FB Bk Fac             B+ /A4 88.5    Suspended
Ltd
Celebrity Fashions Ltd                  TL Fac                D      596.2   Suspended
Celebrity Fashions Ltd                  LT Proposed Facility  D      49.9    Suspended
Celebrity Fashions Ltd                  LT FB Fac             D      30      Suspended
Crescent Spa And Resorts                Bk Fac                BB-    169.9   Suspended
(Indore) Pvt Ltd
Davendra Feeds India (P) Ltd            Bk Fac                D      134.5   Suspended
Delta Corp Ltd                          Long-TL               BBB    588.8   Reaffirmed
revised from Rs 109.0 crore
Delta Corp Ltd                          LT, FB Bk Fac         BBB    105     Reaffirmed
revised from Rs 6.50 crore
Delta Corp Ltd                          LT/ ST, unallocated   BBB    301.2   Assigned
                                        Fac                   /A3+
Dr. R L Khera Charitable Trust          Bk Fac                BB-    280     Suspended
Everon Castings Pvt Ltd                 TL Fac                B+     80.9    Suspended
Everon Castings Pvt Ltd                 fund based            B+     180     Suspended
Express Way Truck Terminus Pvt          LT FB Fac             B+     130     Suspended
Ltd
Fair Exports (India) Pvt Ltd            TL                    BBB-   725     Assigned
Fil Sep Equipments Pvt Ltd              TL                    B+     5.1     Reaffirmed
Fil Sep Equipments Pvt Ltd              CC                    B+     40      Reaffirmed
Garuda Fashions Pvt Ltd                 LT- Fund based/CC     BB+    60      Reaffirmed
Garuda Fashions Pvt Ltd                 LT / ST - Unallocated BB+    1       Reaffirmed
                                                              /A4+
Goel Mohata Associates                  LT fund based         BB     65      Suspended
Health Care Energy Foods Pvt            FBL- LT               BBB-   300     Suspended
Ltd
Health Care Energy Foods Pvt            Unallocated Limits- LT BBB-   140     Suspended
Ltd
Highstreet Cruises &                    Long-TL               BBB    80.5    Reaffirmed
Entertainment Pvt Ltd
Revised from Rs 69.0 crore
Highstreet Cruises &                    LT, FB Bk Fac         BBB    35      Reaffirmed
Entertainment Pvt Ltd
Revised from Rs 6.50 crore
Highstreet Cruises &                    LT/ ST, unallocated   BBB    609.5   Assigned
Entertainment Pvt Ltd                   Fac                   /A3+
Icici Prudential Asset                  Fund Based Bk Lines   AAA    1250    Withdrawn
Management Co. Ltd
Jai Laxmi Cement Co. Pvt. Ltd.          FBL- LT               BB-    60      Suspended
Kataria Industries Pvt Ltd              CC                    BB+    50      Assigned
Kataria Industries Pvt Ltd              CC*                   BB+            Assigned
*Sub limit of Bank Guarantee
Kataria Industries Pvt Ltd              Unallocated           BB+    5       Assigned
                                                              /A4+
Kevin Enterprises Pvt Ltd               Bk limits             BBB-   220     Suspended
                                                              /A3
Lalitha Devi Modern Rice Mill           FB Fac                B+     50      Suspended
Lalitha Devi Modern Rice Mill           TL Fac                B+     20      Suspended
Lml Ltd                                 Preference Share      D      1250    Reaffirmed
                                        Capital
M/S Onsaz Jewellery Creations           FBL                   B     45      Suspended
M/S Shree Balaji Alumnicast             FBL                   BB     200     Suspended
Pvt Ltd
Micropack Ltd                           FB Fac                BBB    72.5    Suspended
Minox Metal Pvt Ltd                     LT - Fund Based (CC)  BB     205     Reaffirmed
Enhanced from 15.00 CR
Nand Kishore & Sons                     FBL- LT               BB-    100     Suspended
New Asian Construction Company          FBL (CC)              D      70      Revised from
                                                                                   C+
New Asian Construction Company          Non FBL (BG)          D      150     Revised from
                                                                                   C+
Reduced from Rs. 18.00 crore
New Asian Infrastructure                FBL (TL)              D      295     Reaffirmed
Development Pvt. Ltd.
Om Namah Shivay Trading Company         LT FB Fac             B+     85      Suspended
P N Rao                                 LT - TL               BBB-   27      Reaffirmed
P N Rao                                 LT - Fund based       BBB-   60      Reaffirmed
Paswara Papers Ltd                      Bk Fac                B+ /A4 101.4   Suspended
Prakash Retail Pvt Ltd                  TL                    BB+    170     Reaffirmed
enhanced from Rs. 12.0cr
R.S.G. Exports Pvt. Ltd.                FBL- LT               B+     400     Suspended
Rajkrishna Aditya Auto Store            LT Fund Based         BB-    29.5    Reaffirmed
Pvt Ltd
Rajkrishna Aditya Auto Store            LT Fund Based         BB-    29.5    Reaffirmed
Pvt Ltd
Ram Lal Kamal Raj Jewellers             Bk Fac                D     310     Suspended
Pvt Ltd
Religare Finvest Ltd                    Non-CPS               A+     1250    Outstanding
Religare Finvest Ltd                    LT Debt programme     AA-    34000   Outstanding
Religare Finvest Ltd                    LT Bk Limits          AA-    114000  Outstanding
Religare Finvest Ltd                    CP programme          AA-    27000   Outstanding
Religare Finvest Ltd                    Nifty Linked          pp - MLD-    1000    Outstanding
                                        Debenture programme   AA-
S.K. Gold Chain Company Pvt Ltd         Bk Fac                D      150     Suspended
Sarala Foods Pvt Ltd                    FB Fac                B+     150     Suspended
Sehore Agri Services Pvt Ltd            FBL- TL (TL)          A-     159*    Reaffirmed
                                                              (SO)
*Letter of credit of Rs. 11 crore is a sublimit of term loan rated at ICRA]A2+(SO)
Sehore Agri Services Pvt Ltd            Unallocated limits    A-     6       Assigned
                                                              (SO) /A2+
                                                              (SO)
Shatabdi Shiksha Prasar Sabha           Fund based Bk Fac     B      100     Suspended
Shivalik Shulz Pvt Ltd                  Bk Fac                B+     98.5    Suspended
Shree Venketesh Paper Mills Ltd         Bk Fac                BB/ A4 360.5   Suspended
Shri Darshna Industries                 Bk Fac                B+ /   70      Suspended
                                                              A4
Shri Shanker Gauri Agro                 FBL- LT               B      289.1   Suspended
Product Pvt Ltd
Slo Steel Industries Ltd                LT FB Fac             B      250     Suspended
Sri Kannapiran Mills Ltd                TL Fac                BB     230.9   Upgraded
                                                                                   from
                                                                                   BB-
revised from 33.24 CR
Sri Kannapiran Mills Ltd                LT - FB Fac           BB     240     Upgraded
                                                                                   from
                                                                                   BB-
Sri Kannapiran Mills Ltd                Proposed facility     BB/    101.5   Assigned
                                                              A4+
Srijan Cement Ltd                       FBL- LT               D      50      Suspended
Sun Metallics & Alloys Pvt Ltd          LT FB limits          BB     150     Revised from
                                                                                   BB+
Sun Metallics & Alloys Pvt Ltd          LT / ST unallocated   BB /A4 5       Revised from
                                                                                   BB+
                                                                                   /A4+
Surat Goods Transport Pvt Ltd           Fund Based-CC         A-     630     Reaffirmed
Surat Goods Transport Pvt Ltd           Non Fund Based-BG     A- /   105     Reaffirmed
                                                              A2+
Tips Industries Ltd                     LT Fund Based         BB+    850     Assigned /
                                                                                   Outstanding
Tirthanjali Educational Society         LT FB limits          BBB    86      Reaffirmed
Tirthanjali Educational Society         Unallocated limits    BBB    14      Reaffirmed
Veer Hatcheries                         Bk Fac                D      100     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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