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ICRA ratings for Indian debt instruments-Mar 1
March 1, 2017 / 11:04 AM / 7 months ago

ICRA ratings for Indian debt instruments-Mar 1

    Mar 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 28, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
DNH Projects Ltd                        Non-FBL               ICRA A4      60      Reaffirmed
Icmc Corporation Ltd                    ST, Non-FB Fac        ICRA A4      245     Downgraded
                                                                                   from  ICRA A4
Ifci Ltd                                CP programme          ICRA A1+     5000    Reaffirmed
Indira Damper Industries                ST: Non-fund based    ICRA A4+     100     Reaffirmed
                                        facilitie
Indira Industries                       ST: FB Fac – EPC      ICRA A4+     -       Reaffirmed
Indira Industries                       ST: Non-FB Fac        ICRA A4+     150     Reaffirmed
J.R. Metal Chennai Ltd                  ST, Non-fund based    ICRA A4      290     Reaffirmed
K P Buildcon Pvt Ltd                    Short–term Non-FBL    ICRA A4      15      Reaffirmed
Liya Infratech Pvt. Ltd.                ST; BG                ICRA A4      50      Reaffirmed
Luxmi Tea Company Pvt Ltd               ST- ST loan           ICRA A1      -       Reaffirmed
Safe-Tronics Automation Pvt Ltd         Non-FBL               ICRA A4      90      Reaffirmed
Shyam Ferro Alloys Ltd                  Non FB Fac            ICRA A2+     2460    Reaffirmed
Terra Energy Ltd                        ST NFBL               ICRA A4      110     Upgraded
                                                                                   from  ICRA D
Thiru Arooran Sugars Ltd                ST NFBL               ICRA A4      15      Upgraded
                                                                                   from  ICRA D
Truwoods Pvt Ltd                        NFBL                  ICRA A4      130     Reaffirmed
V. K. Industrial Corporation            ST Non-fund Based Bk  ICRA A2      2950    Reaffirmed
Ltd                                     Fac

LONG TERM RATINGS:
-------------------
Bangalore Electricity Supply            issue rating          IrBBB+               Reaffirmed
Co. Ltd
Dnh Projects Ltd                        FBL                   ICRA C       120     Reaffirmed
Dnh Projects Ltd                        Unallocated Limit     ICRA C /     100     Reaffirmed
                                                              ICRA A4
Icmc Corporation Ltd                    LT, FB Fac            ICRA BB      632.9   Downgraded
                                                                                   from
                                                                                    ICRA BB+
Icmc Corporation Ltd                    LT, Proposed Fac      ICRA BB      17.1    Downgraded
                                                                                   from
                                                                                    ICRA BB+
Ifci Ltd                                LT Bk borrowings      ICRA A       100000  Downgraded
                                                                                   from  ICRA A+
Ifci Ltd                                LT bonds (including   ICRA A       80000** Downgraded
                                        Subordinated debt)                         from  ICRA A+
**outstanding amount is Rs. 4,488.45 crore
Ifci Ltd                                Bonds/NCD programme   ICRA A       20000   Downgraded
                                                                                   from  ICRA A+
Indira Damper Industries                LT: FB Fac – CC       ICRA BB+     60      Reaffirmed
Indira Industries                       LT: FB Fac – CC       ICRA BB+     145     Reaffirmed
Indira Industries                       LT/ ST: Unallocated   ICRA BB+ /   20      Reaffirmed
                                        limits                A4+
J.R. Metal Chennai Ltd                  LT: FB Fac            ICRA BB      50      Upgraded to
                                                                                    ICRA BB-
J.R. Metal Chennai Ltd                  LT: TL                ICRA BB      26.8    Upgraded to
                                                                                    ICRA BB-
J.R. Metal Chennai Ltd                  LT: Unallocated       ICRA BB      73.2    Upgraded to
                                                                                    ICRA BB-
K P Buildcon Pvt Ltd                    LT FB Limit           ICRA B+      155.5   Reaffirmed
K P Buildcon Pvt Ltd                    Unallocated           ICRA B+      2       Reaffirmed
                                                              (Stable)/A4
Livingstones                            LT: FBL               ICRA B+      480     Reaffirmed
Livingstones                            LT: unallocated       ICRA B+      8.2     Reaffirmed
Liya Infratech Pvt. Ltd.                LT; CC                ICRA BB      200     Reaffirmed
Liya Infratech Pvt. Ltd.                LT; TL                ICRA BB      10      Reaffirmed
Luxmi Tea Company Pvt Ltd               LT-CC Limits          ICRA A       295     Reaffirmed
Safe-Tronics Automation Pvt Ltd         FBL                   ICRA B+      40      Reaffirmed
Safe-Tronics Automation Pvt Ltd         Unallocated Limits    ICRA B+      10      Reaffirmed
                                                              (Stable) /
                                                              ICRA A4;
Shyam Ferro Alloys Ltd                  FB Fac                ICRA A-      1460    Reaffirmed
Sri Sathyanarayana Educational          LT- Fund Based-TL     ICRA BBB     160     Reaffirmed
Trust
State Bank Of Bikaner & Jaipur          Basel II compliant    ICRA AAA     5000    Reaffirmed
                                        Lower Tier II bonds
State Bank Of Bikaner & Jaipur          Basel II compliant    ICRA AAA     5000    Withdrawn
                                        Lower Tier II bond
State Bank Of Bikaner & Jaipur          Basel III compliant   ICRA AAA     2000    Reaffirmed
                                        Tier II bonds         (hyb)
State Bank Of Bikaner & Jaipur          Basel III compliant   ICRA AAA     7500    Withdrawn
                                        Tier II bonds         (hyb)
Sunglow Suitings Pvt Lim                LT – FB Limits        ICRA BB-     132.6   Reaffirmed
Terra Energy Ltd                        TL                    ICRA B+      98.9    Upgraded
                                                                                   from  ICRA D
Terra Energy Ltd                        LT fund based         ICRA B+      89.5    Upgraded
                                                                                   from  ICRA D
Terra Energy Ltd                        Proposed FBL          ICRA B+      201.6   Upgraded
                                                                                   from  ICRA D
Thiru Arooran Sugars Ltd                TL                    ICRA B+      297     Upgraded
                                                                                   from  ICRA D
Thiru Arooran Sugars Ltd                LT fund based         ICRA B+      568.4   Upgraded
                                                                                   from  ICRA D
Thiru Arooran Sugars Ltd                Proposed FBL          ICRA B+      161.1   Upgraded
                                                                                   from  ICRA D
Thiru Arooran Sugars Ltd                LT NFBL               ICRA B+      2350.3  Assigned
Truwoods Pvt Ltd                        FBL                   ICRA B+      70      Reaffirmed
V. K. Industrial Corporation            LT Fund based Bk Fac  ICRA BBB+    550     Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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