January 13, 2017 / 10:52 AM / 6 months ago

ICRA ratings for Indian debt instruments-Jan 13

12 Min Read

Jan 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 12, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Anthem Biosciences Pvt Ltd              NFBL                  ICRA A2+     28.9    Upgraded
                                                                                   from
                                                                                   A3+
Anthem Cellutions (India) Pvt           NFBL                  ICRA A2      10      Upgraded
Ltd                                                                                from
                                                                                   A3+
Chloride Metals Ltd                     Non-fund Based - LC   ICRA A1+     150     Reaffirmed
Chloride Metals Ltd                     Non-fund Based - BG   ICRA A1+     10      Reaffirmed
Dalmia Bharat Sugar &                   CP                    ICRA A1+     5000    Assigned
Industries Ltd
enhanced from 300.00 CR
Dalmia Bharat Sugar &                   NFBL                  ICRA A1+     2000    Outstanding
Industries Ltd
Dalmia Bharat Sugar &                   STL                   ICRA A1+     250     Outstanding
Industries Ltd
Jm Financial Products Ltd               CP programme          ICRA A1+     35000   Reaffirmed
Mbm Engineering Infotech Ltd            Short- term - Non- FB ICRA A4      2.5     Reaffirmed
                                        Fac
(Revised from 3.25 CR)
Prince Enterprises                      ST: Non Fund based    ICRA A4      125     Reaffirmed
Sainor Pharma Pvt. Ltd                  ST FBL                ICRA A4      20      Reaffirmed
Sainor Pharma Pvt. Ltd                  ST Non-FBL            ICRA A4      20      Reaffirmed
Sanghvi & Sons                          ST Fund Based Working ICRA A3      660     Reaffirmed
                                        Capital Demand Loan
Sivaraj Spinning Mills Pvt Ltd          ST: Non-FBL           ICRA A1      100     Reaffirmed
Sri Matha Spinning Mills Pvt            ST: Non-FBL           ICRA A1      200     Reaffirmed
Ltd
Sri Shanmugavel Mills Pvt Ltd           Long / ST: Fund based ICRA A+      850     Reaffirmed
                                        unallocated limits    ICRA A1
(revised from 105.0 CR)
Sri Shanmugavel Mills Pvt Ltd           ST: Non-FBL           ICRA A1      400     Reaffirmed
Sri Velayudhaswamy Mills Pvt            ST: Non-FBL           ICRA A1      500     Reaffirmed
Ltd
Sudhan Spinning Mills Pvt Ltd           ST: Non-FBL           ICRA A1              Reaffirmed
(revised from 50.0 CR)
Tangerine Design Pvt Ltd                ST FBL                ICRA A3+(SO) 585     Reaffirmed
(revised from 30.50 CR)
Vedha Spinning Mills Pvt Ltd            LT/ST FB unallocated  ICRA A+      60      Reaffirmed
                                        limits                ICRA A1
Vedha Spinning Mills Pvt Ltd            ST: Non-FBL           ICRA A1      150     Reaffirmed

LONG TERM RATINGS:
-------------------
Anthem Biosciences Pvt Ltd              TL                    ICRA A-      1382.5  Upgraded
                                                                                   from
                                                                                   BBB
Anthem Biosciences Pvt Ltd              FBL                   ICRA A-      220     Upgraded
                                                                                   from
                                                                                   BBB
Anthem Cellutions (India) Pvt           TL                    ICRA BBB+    40      Upgraded
Ltd                                                                                from
                                                                                   BBB
Anthem Cellutions (India) Pvt           FBL                   ICRA BBB+    38.5    Upgraded
Ltd                                                                                from
                                                                                   BBB
Anthem Cellutions (India) Pvt           Unallocated           ICRA BBB+ /  11.5    Upgraded
Ltd                                                           A2                   from
                                                                                   BBB /
A3+
Chloride Metals Ltd                     FB Limits - CC        ICRA AA      150     Reaffirmed
Dalmia Bharat Sugar &                   TL                    ICRA A+      7578    Outstanding
Industries Ltd
Dalmia Bharat Sugar &                   FBL                   ICRA A+      5000    Outstanding
Industries Ltd
Dalmia Bharat Sugar &                   NCD Programme         ICRA A+      333.3   Outstanding
Industries Ltd
Evan Multi Specialty Hospital           LT FB TL              ICRA B       200     Reaffirmed
And Research Center Pvt Ltd
Frostees Export (India) Pvt Ltd         FBL                   ICRA BB+     150     Reaffirmed
(enhanced from Rs. 14.00 crore earlier)
Gks Business Associates Pvt Ltd         FBL                   ICRA BB-     410     Reaffirmed
(Enhanced from 15.00 CR)
Gks Business Associates Pvt Ltd         Non-FBL               ICRA BB-     5       Reaffirmed
Gks Business Associates Pvt Ltd         Unallocated Amount    ICRA BB-     -       Reaffirmed
(Reduced from 1.00 CR)
Jm Financial Products Ltd               NCD Programme         ICRA AA      7000    Reaffirmed
Jm Financial Products Ltd               LT Bk lines           ICRA AA      5000    Reaffirmed
Jm Financial Products Ltd               LT Equity Linked      PP-MLDICRA   2250    Reaffirmed
                                        Debentures (Principal AA
                                        Protected)
Joyalukkas Retail Pvt Ltd               LT: TL                ICRA BBB     50      Reaffirmed
Joyalukkas Retail Pvt Ltd               LT: FBL               ICRA BBB     400     Reaffirmed
Manglam Multiplex Pvt Ltd               Non-FBL               ICRA BBB-    110     Reaffirmed
Manglam Multiplex Pvt Ltd               Unallocated           ICRA BBB-    77.5    Reaffirmed
Mbm Engineering Infotech Ltd            LT - Fund based       ICRA B       65      Downgraded
                                        facility                                   from B+
(revised from 7.50 CR)
Mbm Engineering Infotech Ltd            LT - TL               ICRA B       8       Downgraded
                                                                                   from B+
(revised from 9.25 CR)
Mbm Engineering Infotech Ltd            LT/ST - Unallocated   ICRA B /     24.5    Assigned
                                                              ICRA A4
(Enhanced from nil)
Prince Enterprises                      LT: Fund Based        ICRA BB-     50      Reaffirmed
Prince Enterprises                      LT/ST: Unallocated    ICRA BB- /   5       Reaffirmed
                                                              ICRA A4
Sainor Pharma Pvt. Ltd                  LT FBL                ICRA B+      55      Reaffirmed
Sainor Pharma Pvt. Ltd                  LT Unallocated Limits ICRA B+      25      Reaffirmed
Shriramkrupa Fibres                     FBL                   ICRA B+      77.5    Assigned /
                                                                                   Outstanding
(enhanced from Rs 6.00 crore)
Sivaraj Spinning Mills Pvt Ltd          LT: TL                ICRA A+      122.5   Reaffirmed
(revised from 14.00 CR)
Sivaraj Spinning Mills Pvt Ltd          LT: FB limits         ICRA A+      450     Reaffirmed
(revised from 40.00 CR)
Sivaraj Spinning Mills Pvt Ltd          Long / ST: Fund based ICRA A+ /    27.5    Reaffirmed
                                        unallocated limits    ICRA A1
(revised from 11.00 CR)
Sri Matha Spinning Mills Pvt            LT: FB limits         ICRA A+      400     Reaffirmed
Ltd
Sri Matha Spinning Mills Pvt            Long / ST: Fund based ICRA A+ /    200     Reaffirmed
Ltd                                     unallocated limits    ICRA A1
Sri Shanmugavel Mills Pvt Ltd           LT: FB limits         ICRA A+      1200    Reaffirmed
Sri Velayudhaswamy Mills Pvt            LT: FB limits         ICRA A+      1500    Reaffirmed
Ltd
Sri Velayudhaswamy Mills Pvt            Long / ST: Fund       ICRA A+      500     Reaffirmed
Ltd                                     based,unallocated     /ICRA A1
                                        limits
Sudhan Spinning Mills Pvt Ltd           LT: TL                ICRA A+              Reaffirmed
(revised from 132.0 CR)
Sudhan Spinning Mills Pvt Ltd           LT: FB limits         ICRA A+              Reaffirmed
(revised from 110.0 CR)
Sudhan Spinning Mills Pvt Ltd           Long / ST: Fund based ICRA A+ /            Reaffirmed
                                        unallocated limits    ICRA A1
(revised from 68.0 CR)
Surat Good Transport Pvt Ltd            FBL                   ICRA A-      630     Outstanding
Surat Good Transport Pvt Ltd            NFBL                  ICRA A-      160     Assigned /
                                                                                   Outstanding
(enhanced from Rs 10.50 crore)
Vedha Spinning Mills Pvt Ltd            LT: FB limits         ICRA A+      350     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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