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ICRA ratings for Indian debt instruments-Mar 6
March 6, 2017 / 10:27 AM / 7 months ago

ICRA ratings for Indian debt instruments-Mar 6

    Mar 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 3, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
API Ispat And Powertech Pvt Ltd         Non-FB Limits         ICRA A2+     25      Reaffirmed
Dalmia Bharat Sugar &                   CP                    ICRA A1+     700     Assigned /
Industries Ltd                                                                     outstanding
Dalmia Bharat Sugar &                   Non-FBL               ICRA A1+     200     Outstanding
Industries Ltd
DCB Power Ventures Ltd                  NFBL                  ICRA A1      63      Notice of
                                                                                   Withdrawal
                                                                                   for a period 
                                                                                   Of 90 days
Deepak Fertilisers &                    CP                    ICRA A1+     1000    Reaffirmed
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    Non-FBL               ICRA A1+     1500    Reaffirmed
Petrochemicals Corporation Ltd
Hero Corporate Service Pvt Ltd          Unallocated           ICRA A1+     50      Reaffirmed
Kay Bouvet Engineering Ltd              ST, Non fund based -  ICRA A4      250     Downgraded
                                        BG                                         from ICRA A4+
Kay Bouvet Engineering Ltd              ST, Non fund based –  ICRA A4      50      Downgraded
                                        LOC                                        from ICRA A4+
Kellton Tech Solutions Ltd              ST: Non-FBL           ICRA A2+     20      Assigned
Lampex Electronics Ltd                  BG                    ICRA A4+     3       Upgraded to
                                                                                   from ICRA A4
Lampex Electronics Ltd                  LOC                   ICRA A4+     10      Upgraded to
                                                                                   from ICRA A4
Mangalore Ganesh Beedi Works            ST Non-FBL            ICRA A1+     0.5     Upgraded
                                                                                   from ICRA A2+
Real Ispat & Power Ltd                  Non-FB Limits         ICRA A2+     30      Reaffirmed
Va Tech Wabag Ltd                       ST: Non-FB Fac        ICRA A1+     2346    Reaffirmed
Va Tech Wabag Ltd                       ST: Proposed Non-fund ICRA A1+     154     Reaffirmed
                                        Based
Va Tech Wabag Ltd                       ST: CP                ICRA A1+     150     Withdrawn
Zf Steering Gear (India) Ltd            ST – Non Fund Based   ICRA A1+     4       Reaffirmed

LONG TERM RATINGS:
-------------------
Api Ispat And Powertech Pvt Ltd         FB Limits             ICRA A-      45      Reaffirmed
Balkrushna Ginning & Pressing           FB Limits             ICRA B+      6       Reaffirmed
Industries
Dalmia Bharat Sugar &                   FBL                   ICRA A+      650     Assigned /
Industries Ltd                                                                     outstanding
Dalmia Bharat Sugar &                   Unallocated           ICRA A+      257.02  Assigned
Industries Ltd
Dalmia Bharat Sugar &                   TL                    ICRA A+      575.78  Outstanding
Industries Ltd
Dalmia Bharat Sugar &                   NCD                   ICRA A+      33.33   Withdrawn
Industries Ltd
Dcb Power Ventures Ltd                  TL                    ICRA A+      175     Withdrawn
Dcb Power Ventures Ltd                  NCD                   ICRA A+      175     Withdrawn
Dcb Power Ventures Ltd                  Unallocated           ICRA A+      12      Withdrawn
Deepak Fertilisers &                    NCDs                  ICRA AA-     750     Reaffirmed
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    NCDs                  ICRA AA-     100     Reaffirmed
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    FBL                   ICRA AA-     1000    Reaffirmed
Petrochemicals Corporation Ltd
Deepak Fertilisers &                    TL                    ICRA AA-     580.6   Reaffirmed
Petrochemicals Corporation Ltd
Hero Corporate Service Pvt Ltd          FB Fac                ICRA A+      5       Reaffirmed
Hero Corporate Service Pvt Ltd          Non FB Fac            ICRA A+      1       Reaffirmed
Kay Bouvet Engineering Ltd              LT, FBL – CC          ICRA BB      110     Downgraded
                                                                                   from ICRA BB+
Kay Bouvet Engineering Ltd              LT, FBL – TL          ICRA BB      41      Downgraded
                                                                                   from ICRA BB+
Kellton Tech Solutions Ltd              LT: FBL               ICRA A-      15      Assigned
Kellton Tech Solutions Ltd              LT: FBL               ICRA A-      *       Assigned
*Although the bank facilities are denominated in foreign currency, ICRA’s rating for the same is
on the national scale as distinct from an international rating scale
Kellton Tech Solutions Ltd              LT: TL                ICRA A-      *       Assigned
*Although the bank facilities are denominated in foreign currency, ICRA’s rating for the same is
on the national scale as distinct from an international rating scale
Kellton Tech Solutions Ltd              Unallocated Limits    ICRA A-/A2+  15.15   Assigned
Lampex Electronics Ltd                  TL                    ICRA BB+     2       Upgraded to
                                                                                   from ICRA BB
Lampex Electronics Ltd                  CC                    ICRA BB+     30      Upgraded to
                                                                                   from ICRA BB
Mangalore Ganesh Beedi Works            LT FBL                ICRA A+      70      Upgraded
                                                                                   from ICRA A-
Modrina Auto Enterprises                FB Limits             ICRA BB-     7       Reaffirmed
Modrina Auto Enterprises                Unallocated Limits    ICRA BB-     9       Reaffirmed
National Capital Region                 LT bonds programme    ICRA AAA     500     Reaffirmed
Planning Board
National Capital Region                 LT bonds programme    ICRA AAA     400**   Withdrawn
Planning Board
**Bonds aggregating to Rs. 400 crore have been redeemed by the Board by exercising call option
National Company                        LT: FBL               ICRA BB+     9.95    Reaffirmed
National Company                        LT: Unallocated LimitsICRA BB+     3.6     Reaffirmed
Punjab Infrastructure                   Rs. 150 crore Regular ICRA BBB     31      #
Development Board                       Return Bonds - Series
                                        I
Punjab Infrastructure                   Rs. 500 crore         ICRA BBB     500     #
Development Board                       DDBsSeries II
Punjab Infrastructure                   Rs. 150 crore         ICRA BBB     150     #
Development Board                       DDBsSeries III
Punjab Infrastructure                   Rs. 750 crore Regular ICRA BBB     305     #
Development Board                       Return BondsSeries
                                        IVA, IVB and IVC
Real Ispat & Power Ltd                  FB Limits             ICRA A-      50      Reaffirmed
Shrinivasa Cattle Feeds Pvt Ltd         LT: FBL               ICRA BB-     22.5    Reaffirmed
Shrinivasa Cattle Feeds Pvt Ltd         LT: unallocated       ICRA BB-     0.5     Reaffirmed
Snqs International Socks Pvt            FBL                   ICRA B+      8       Reaffirmed
Ltd
Thirumeni Finance Pvt Ltd               PTC Series A2         Provisional  2.09    Assigned
                                                              ICRA BB+
Thirumeni Finance Pvt Ltd               PTC Series A1         Provisional  24.77   Assigned
                                                              ICRA A-
VA Tech Wabag Ltd                       LT: FB Fac            ICRA AA-     300     Reaffirmed
VA Tech Wabag Ltd                       LT: Proposed FB Fac   ICRA AA-     200     Assigned
ZF Steering Gear (India) Ltd            LT – TL               ICRA A+      4       Assigned
ZF Steering Gear (India) Ltd            LT – CC               ICRA A+      11.65   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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