June 14, 2017 / 12:18 PM / a month ago

ICRA ratings for Indian debt instruments-Jun 14

14 Min Read

    Jun 14 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of June 13, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Atom Ceramic                            Non-FBL               ICRA A4      10      Reaffirmed
Concrete Udyog Limite                   ST non-fund based     ICRA A4      130     -
Crystal Granite & Marble Pvt            ST-Fund Based-Packing ICRA A4+     330     Reaffirmed
Ltd                                     Credit and Post
                                        Shipment Fac
Crystal Granite & Marble Pvt            ST-Non Fund Based-BG  ICRA A4+     57.5    Reaffirmed
Ltd                                     & LOC
(increased from 5.0 CR)
Deepak Vegpro Pvt Ltd                   FB –Short-TL          ICRA A4+     15.7    Withdrawn
Deepak Vegpro Pvt Ltd                   Non-fund based –LOC   ICRA A4+     550     Withdrawn
Empire Industries Ltd                   ST Interchangeable    ICRA A1      -       Revised from
                                                                                   ICRA A2+
Empire Industries Ltd                   ST Non-FBL            ICRA A1      500     Revised from
                                                                                   ICRA A2+
Export Import Bank Of India             ST Debt Programme     ICRA A1+     -       Assigned
India Infoline Ltd                      CP programme          ICRA A1+     5000    Assigned
India Infoline Ltd                      ST Bk lines           ICRA A1+     6500    Outstanding
India Infoline Ltd                      CP programme          ICRA A1+     5000    Assigned
India Infoline Ltd                      ST Bk lines           ICRA A1+     6500    Outstanding
Jai And Sons Pvt Ltd                    ST NFB                ICRA A4+     50      Assigned
Megh & Ami Exports Pvt Ltd              Fund Based Sub-Limit  ICRA A4      -       Reaffirmed
Satyavan Sales Promotion Pvt            Non-Fund Based        ICRA A4      75      Reaffirmed
Ltd
Variety Lumbers Pvt Ltd                 mport LOC cum Buyer’s ICRA A4      200     Reaffirmed
                                        Credit
Vijay Solvex Ltd                        ST FB –TL             ICRA A4+     100     Withdrawn
Vijay Solvex Ltd                        Non-fund based –LOC   ICRA A4+     350     Withdrawn
Zinka Logistics Solutions Pvt           FB limits             ICRA A2+     1965    Assigned
Ltd
Zinka Logistics Solutions Pvt           Unallocated           Provisional  35      Assigned
Ltd                                                           ICRA A2+

MEDIUM TERM RATINGS:
-------------------  
Empire Industries Ltd                   Fixed Deposit         MA           530
                                        Programme
Export Import Bank Of India             Fixed Deposits        MAAA         -       Outstanding
                                        Programme

LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      2500    Assigned
Ltd
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      1500    Assigned
Ltd
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      6000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      3000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      2500    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCD                   ICRA A+      2500    Outstanding
Ltd
Atom Ceramic                            FB Limits             ICRA B       52.3    Reaffirmed
Atom Ceramic                            Unallocated Limits    ICRA B/A4    29.1    Reaffirmed
Blackstone Gem & Jewellery              FB limits             ICRA D       150     Withdrawn
Concrete Udyog Limite                   LT fund based         ICRA BB      170     -
Crystal Granite & Marble Pvt            LT-Fund Based-TL      ICRA BB+     18.8    Assigned
Ltd
Crystal Granite & Marble Pvt            LT/ST-Unallocated     ICRA BB+ /   28.7    Assigned
Ltd                                     Limits                ICRA A4+
Deekay Treximpvt Ltd                    BLR                   ICRA BB-     103.6   -
Deepak Vegpro Pvt Ltd                   FB –CC                ICRA BB-     150     Withdrawn
Deepak Vegpro Pvt Ltd                   Unallocated           ICRA BB+/A4  184.3   Withdrawn
Empire Industries Ltd                   LT FBL                ICRA A       455.3   Revised from
                                                                                   ICRA A-
Empire Industries Ltd                   LT Interchangeable    ICRA A       -       Revised from
                                                                                   ICRA A-
Empire Industries Ltd                   LT and ST FBL         ICRA A/A1    150     Revised from
                                                                                   ICRA A-/A2+
Empire Properties                       Bk Loan Ratings       ICRA B       350     -
Export Import Bank Of India             Basel III compliant   ICRA AA+     11000   Outstanding
                                        Additional Tier-I
                                        Bonds
Export Import Bank Of India             LT Bonds Programme    ICRA AAA     50000   Assigned
Export Import Bank Of India             LT Bonds Programme    ICRA AAA     315641  Outstanding
Export Import Bank Of India             Bk Lines              ICRA AAA     30000   Outstanding
Export Import Bank Of India             Certificates of       ICRA AAA/A1+ -       Outstanding
                                        Deposit Programme
G.M. Fabrics Pvt Ltd                    FBL                   ICRA A- /    800     Upgraded
                                                              A2+                  from ICRA
                                                                                   BBB+ /A2
G.M. Fabrics Pvt Ltd                    Unallocated Limits    ICRA A- /    40      Upgraded
                                                              A2+                  from ICRA
                                                                                   BBB+ /A2
G.M. Fabrics Pvt Ltd                    FBL                   ICRA A- /    740     Upgraded
                                                              BBB+                 from ICRA
                                                                                   BBB+
Gajanand Rice Mills                     FB –CC                ICRA B+      80      Reaffirmed
Gajanand Rice Mills                     Unallocated Limits    ICRA B+      101.7   Assigned
Gajanand Rice Mills                     FB –CC                ICRA B+      80      Reaffirmed
Gajanand Rice Mills                     Unallocated Limits    ICRA B+      101.7   Assigned
Gruh Finance Ltd                        LT debt programme     ICRA AAA     8350    Assigned
Habib Textiles Pvt Ltd                  BLR                   ICRA B+      100     -
Hiraman Developers Pvt Ltd              TL                    ICRA D       70      Reaffirmed
India Infoline Finance Ltd              Purchaser Payouts     ICRA AAA     3061.1  Withdrawn
India Infoline Ltd                      LT –Equity linked     PP-MLDICRA   1000    Outstanding
                                        debenture programme   AA
India Infoline Ltd                      LT –Equity linked     PP-MLDICRA   1000    Outstanding
                                        debenture programm    AA
Jai And Sons Pvt Ltd                    LT/FB                 ICRA BB+     50      Assigned
Jai And Sons Pvt Ltd                    LT/ST-UNALLOCATED     ICRA BB+ /   20.4    Assigned
                                                              ICRA A4+
Madhav Oil Industries                   FB TL#                ICRA B+      12.2    Withdrawn
Madhav Oil Industries                   FB CC                 ICRA B+      92.5    Withdrawn
Manju Shree Syntex Pvt. Ltd             FB limits             ICRA B+      72.1    Reaffirmed
Manju Shree Syntex Pvt. Ltd             Unallocated           ICRA B+      16.6    Reaffirmed
Megh & Ami Exports Pvt Ltd              Fund Based CC Limits  ICRA B+      75      Reaffirmed
Meghdoot Ginning & Pressing             FB Limits             ICRA B       300     Reaffirmed
Industries Pvt Ltd
Patel Oswal Housin                      CC                    ICRA D       120     Reaffirmed
Piramal Realty Pvt Ltd                  NCD                   ICRA A+      3500    Assigned
Piramal Realty Pvt Ltd                  NCD                   ICRA A+      2500    Outstanding
Piramal Realty Pvt Ltd                  NCD                   ICRA A+      3000    Outstanding
Satyavan Sales Promotion Pvt            FB - CC               ICRA BB-     125     Reaffirmed
Ltd
Shreepati Castle                        FB limits             ICRA D       500     Reaffirmed
Shri Balaji Sugars And                  TL                    ICRA D       650     Revised from
Chemicals Pvt Ltd                                                                  ICRA B
Shri Balaji Sugars And                  Unallocated Limits    ICRA D       150     Revised from
Chemicals Pvt Ltd                                                                  ICRA B
Tema India Ltd                          Unallocated limits    -            -       -
Tema India Ltd                          TL                    ICRA BBB     70.2    Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Tema India Ltd                          FB limits             ICRA BBB     680     Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Tema India Ltd                          Non-FBL               ICRA         2980    Upgraded
                                                              BBB/A3+              from ICRA
                                                                                   BBB-/A3
Unique Gem & Jewellery                  FB limits             ICRA D       500     Withdrawn
Unique Gem & Jewellery                  Unallocated           ICRA D       100     Withdrawn
Variety Lumbers Pvt Ltd                 CC                    ICRA B+      20      Reaffirmed
Vijay Latex Products Pvt Ltd            FBL                   ICRA D       119.3   Withdrawn
Vijay Latex Products Pvt Ltd            Non-FBL               ICRA D       30      Withdrawn
Vijay Latex Products Pvt Ltd            Unallocated amounts   ICRA D       50.7    Withdrawn
Vijay Solvex Ltd                        FB –CC                ICRA BB+     550     Withdrawn
Vijay Solvex Ltd                        Unallocated           ICRA BB+/A4+ 200     Withdrawn
--------------------------------------------------------------------------------------------
$: 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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