January 9, 2017 / 10:43 AM / 8 months ago

ICRA ratings for Indian debt instruments-Jan 9

Jan 9 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 6, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ashok Leyland Ltd                       CP / ST debt          A1+    9000    Reaffirmed
Ashok Leyland Ltd                       ST: Non-FBL (Note)    A1+    7500    Reaffirmed
Ashok Leyland Ltd                       ST: FBL (proposed)    A1+    2000    Reaffirmed
Gaurav Exportrades Pvt Ltd              ST - Fund Based       A4     70      Reaffirmed
                                        facility
Gaurav Exportrades Pvt Ltd              ST - Non FB Fac       A4     35      Reaffirmed
Knk Nexgen Constructions Pvt            ST-Non Fund Based-BG  A3     400     Reaffirmed
Ltd
United Breweries Ltd                    Fund based            A1+    6000#   Reaffirmed
                                        (inter-changeable) Fac
# The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based 
facilities may be utilized either as long-term or as short-term facilities. Total 
amount rated by ICRA is Rs.1,380.00 crore
United Breweries Ltd                    Non-fund based        A1+    1500#   Reaffirmed
                                        (inter-changeable) Fac
# The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based 
facilities may be utilized either as long-term or as short-term facilities. Total 
amount rated by ICRA is Rs.1,380.00 crore
United Breweries Ltd                    CP                    A1+    5000    Reaffirmed


LONG TERM RATINGS:
-------------------
Ashok Leyland Ltd                       NCD                   AA     4000    upgraded
                                                                                   from
                                                                                   AA-
Ashok Leyland Ltd                       LT: FBL (Note)        AA     9000    upgraded
                                                                                   from
                                                                                   AA-
Ashok Leyland Ltd                       LT: Loans (proposed)  AA     550     upgraded
                                                                                   from
                                                                                   AA-
Ashok Leyland Ltd                       NCD                                6750    Withdrawn
Avadh Infra Project                     LT FBL                BB-    740     Reaffirmed
Carrycon India Ltd                      Non FB Limits         B+     33      Reaffirmed
Carrycon India Ltd                      FB Limits             B+     65      Reaffirmed
Carrycon India Ltd                      Proposed FB Limits    B+     3       Reaffirmed
Dantara Jewellers                       LT & ST FBL           BB- /  150     Reaffirmed
                                                              A4
Eros International Media Ltd            NCD                   A+     7500    Withdrawn
Gaurav Exportrades Pvt Ltd              LT - CC               B+     10      Reaffirmed
Knk Nexgen Constructions Pvt            LT-Fund BasedCC       BBB-   150     Reaffirmed
Ltd                                                           (SO)
Knk Nexgen Constructions Pvt            LT/Short              BBB-/  50      Reaffirmed
Ltd                                     TemUnallocated        A3
Meena Advertisers                       LT - Fund based       B+     80      Reaffirmed
                                        facility
Meena Advertisers                       LT - Unallocated      B+     20      Reaffirmed
Mfar Developers Pvt Ltd                 FBL - TL              BBB-   4380    Assigned
                                                              (SO)
Mfar Developers Pvt Ltd                 Unallocated Limits    Provisional  1020    Assigned
                                                              BBB-
                                                              (SO)
Polyplastics Automotive India           Non-FBL               D     2.5     Reaffirmed
Pvt Ltd
Polyplastics Automotive India           FBL                   D     189.5   Reaffirmed
Pvt Ltd
Polyplastics Automotive India           Unallocated Amount    D     58      Reaffirmed
Pvt Ltd
United Breweries Ltd                    TL                    AA-    1300    Reaffirmed
United Breweries Ltd                    Fund based            AA-    6000#   Reaffirmed
                                        (inter-changeable) Fac
# The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based 
facilities may be utilized either as long-term or as short-term facilities. Total 
amount rated by ICRA is Rs.1,380.00 crore
United Breweries Ltd                    Non-fund based        AA-    1500#   Reaffirmed
                                        (inter-changeable) Fac
# The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based 
facilities may be utilized either as long-term or as short-term facilities. Total 
amount rated by ICRA is Rs.1,380.00 crore
--------------------------------------------------------------------------------------------
$: 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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