February 6, 2017 / 10:52 AM / 9 months ago

ICRA ratings for Indian debt instruments-Feb 6

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

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Acrysil Steel Ltd                       Non-FBL               ICRA A3     17.5    Reaffirmed
Advantage Computers India Pvt           ST - FB               ICRA A4     4       Reaffirmed
Chintamani'S Jewellery Arcade           Non-FBL^              ICRA A4             Revised from
Pvt Ltd                                                                           ICRA A4+
^Sublimit of fund based limit 
Gayathri Exports                        ST FBL                ICRA A4     260     Reaffirmed
Hardoli Paper Mills Ltd                 Non-FBL               ICRA A4     10      Reaffirmed
Hindustan Mint And Agro                 Non FB Limits         ICRA A4     9.5     Reaffirmed
Products Pvt Ltd
M.M. Brothers                           NFBL                  ICRA A4     350     Reaffirmed
Medhassu E-Solutions Pvt Ltd            BG                    ICRA A4     45      Notice of
Ruttonsha International                 Non-FBL               ICRA A4+    11      Reaffirmed
Rectifiers Ltd
Sparkle Port Services Ltd               Non Fund Based Bk     ICRA A1+    100     Reaffirmed
                                        Limits                (SO)1
Valvoline Cummins Pvt Ltd               NFBL*                 ICRA A1+    280     Reaffirmed
* The Fund based and Non-Fund based Limits are interchangeable

Acrysil Steel Ltd                       FB Limit              ICRA BBB-   35      Reaffirmed
Acrysil Steel Ltd                       Unallocated Limit     ICRA BBB-   20      Assigned
                                                              / ICRA A3
Advantage Computers India Pvt           LT FB - CC            ICRA BB-    140     Upgraded
Ltd                                                                               from ICRA B+
Advantage Computers India Pvt           LT - Unallocated      ICRA BB-    6       Upgraded
Ltd                                                                               from ICRA B+
Baba Construction Pvt Ltd               LT FB - CC            ICRA BB     140     Upgraded
                                                                                  ICRA BB-
Baba Construction Pvt Ltd               LT Non-fund Based - BGICRA BB     300     Upgraded
                                                                                  ICRA BB-
Chintamani'S Jewellery Arcade           FBL                   ICRA BB-    230     Revised from
Pvt Ltd                                                                           ICRA BB
Chordia Food Products Ltd               LT: FBL               ICRA BB+    100     Revised from
                                                                                  ICRA BBB-
Gaurishanker Bihani                     CC                    ICRA B+     150     Reaffirmed
Gaurishanker Bihani                     Unallocated Limits    ICRA B+     50      Assigned
Gayathri Exports                        LT FBL                ICRA BB     20      Reaffirmed
Hardoli Paper Mills Ltd                 FBL                   ICRA B+     150     Reaffirmed /
Hindustan Mint And Agro                 FB Limits             ICRA BB     440     Reaffirmed
Products Pvt Ltd
Hindustan Mint And Agro                 Unallocated Amount    ICRA BB     2.8     Reaffirmed
Products Pvt Ltd
J M Constructions Company               FBL                   ICRA BB-    35      Reaffirmed
J M Constructions Company               NFBL                  ICRA BB-    50      Reaffirmed
                                                              /ICRA A4
Jawahar Shetkari Sahakari               LT, FBL - Cash Cred   ICRA  BBB-  4650    Upgraded
Sakhar Karkhana Ltd                                                               from
                                                                                  ICRA BB+
Jawahar Shetkari Sahakari               LT, FBL - TL          ICRA  BBB-  795     Upgraded
Sakhar Karkhana Ltd                                                               from
                                                                                  ICRA BB+
M.M. Brothers                           CC                    ICRA BB-    50      Reaffirmed
Medhassu E-Solutions Pvt Ltd            Unallocated limits    ICRA B      30      Notice of
Medhassu E-Solutions Pvt Ltd            CC                    ICRA B      25      Notice of
Muthoot Microfin Ltd -Abruzzi           PTC Series A1         Provisional  378.4  Assigned
Ifmr Capital 2017                                             ICRA A-
Muthoot Microfin Ltd -Abruzzi           PTC Series A2         Provisional  21     Assigned
Ifmr Capital 2017                                             ICRA BBB
Ramesh Company                          CC                    ICRA B+     140     Reaffirmed
Ramesh Company                          Unallocated Limits    ICRA B+ /   60      Reaffirmed
                                                              ICRA A4
Rameshwar Industries                    FBL                   ICRA B      76.7    Reaffirmed
Rameshwar Industries                    Unallocated Limits    ICRA B      10.8    Reaffirmed
Ruttonsha International                 FBL                   ICRA BB+    80      Reaffirmed
Rectifiers Ltd
Ruttonsha International                 Unallocated Amount    ICRA BB+ /  9       Assigned
Rectifiers Ltd                                                ICRA A4+
Sea Sparkle Harbour Services            TL^                   ICRA AA-    206.9   Reaffirmed
Ltd                                                           (SO)
^based on guarantee from Ocean Sparkle Limited  
Shree Guru Nanak Dev Rice Mills         LT, FBL               ICRA  B     60      Reaffirmed
Shree Ramkrushna Ginning & Oil          LT: FBL               ICRA BB-    99      Reaffirmed
Shrem Resort Pvt Ltd                    TL                    ICRA BBB    1000    Provisional
                                                                                  as final
Sparkle Port Services Ltd               TL                    ICRA AA-    308.5   Reaffirmed
Valvoline Cummins Pvt Ltd               FBL*                  ICRA AA     280     Reaffirmed
* The Fund based and Non-Fund based Limits are interchangeable
$: 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

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