Reuters logo
ICRA ratings for Indian debt instruments-Apr 5
April 5, 2012 / 6:32 AM / 6 years ago

ICRA ratings for Indian debt instruments-Apr 5

Apr 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of April 4, 2012.	
	
COMPANY                                 INSTRUMENT            RATING      AMOUNT  MOVEMENT	
                                                                          (RS.MLN)	
------                                  ----------            ------      -----   ---------	
SHORT TERM RATINGS:	
-------------------	
Action Industrial Corporation           FB, ST Fac            A4+    5       Revised from	
                                                                                   A3	
Action Industrial Corporation           Non-FB, ST Fac        A4+    10      Revised from	
                                                                                   A3	
Action International                    Non-FB, ST Fac        A4+    19.5    Revised from	
                                                                                   A3	
Ankit International                     Non-FBL               A4     2.5     Reaffirmed	
Ajay Plastic Industries                 Non-FB, ST Fac        A4+    16.5    Revised from	
                                                                                   A3	
Balaji Powertronics                     NFBL                  A1     75      Reaffirmed	
CMC Ltd                                 ST Non-FB Fac         A1+    1000    Reaffirmed	
CMC Ltd                                 CP/STD Programme      A1+    500     Reaffirmed	
Ecocat (India) Pvt Ltd                  Non-FB Fac            A3     1       Reaffirmed	
Euro Forge Pvt Ltd                      FB, ST Fac            A4+    10      Revised from	
                                                                                   A3	
Euro Forge Pvt Ltd                      Non-FB, ST Fac        A4+    10      Revised from	
                                                                                   A3	
Golden Tobacco Ltd                      ST, non-FBL           A4     30      Reaffirmed	
Kabeer Textiles Pvt Ltd                 Non-FB, ST Fac        A4+    31      Revised from	
                                                                                   A3	
Kajaria Ceramics Ltd                    NFBL                  A2+    1720    Upgraded from	
                                                                                   A2	
Kirloskar Oil Engines Ltd               ST debt               A1+    1000    Withdrawn	
Kotak Mahindra Investments Ltd          ST Debt               A1+    5750    Reaffirmed	
Kotak Securities Ltd                    ST Debt               A1+    5000    Reaffirmed	
Mahan Plastics Pvt Ltd                  Non-FB, ST Fac        A4+    57.5    Revised from	
                                                                                   A3	
Metroworld Tiles Pvt Ltd                ST, Non-FBL           A4     9.9     Assigned	
Micro Industrial Corporation            Non-FB, ST Fac        A4+    100     Revised from	
                                                                                   A3	
Microtek International Pvt Ltd          NFBL                  A2+    23      Reaffirmed	
Mpg Hotels & Infrastructure             NFBL                  A4+@   23      Assigned	
Ventures Pvt Ltd	
@ - placed under rating watch with negative implications	
Muthoot Hotels Pvt Ltd                  NFBL                  A4+@   20      Assigned	
@ - placed under rating watch with negative implications	
Nikhil Footwears Pvt Ltd                Non-FB, ST Fac        A4+    32.5    Revised from	
                                                                                   A3+	
Nikhil International                    Non-FB, ST Fac        A4+    32      Revised from	
                                                                                   A3	
Nikhil Udyog                            Non-FB, ST Fac        A4+    29      Revised from	
                                                                                   A3	
Radhika Jewellers                       LT- FBL-FCNB (DL/TL)* A4     30      Assigned	
*sublimit of cash credit facility	
Radhika Jewellers                       ST- FBL- Metal Gold   A4     35      Assigned	
                                        Loan*	
*sublimit of cash credit facility	
Reliance Mediaworks Ltd                 CP programme          A1+    7350    Withdrawn	
                                                              (SO)	
Reliance Mediaworks Ltd                 Short-TL              A1+    1500    Assigned	
                                                              (SO)	
Sanchit Polymers                        Non-FB, ST Fac        A4+    30      Revised from	
                                                                                   A3+	
Scintillating Jewellery                 ST, FB Fac            A4     600     Reaffirmed	
Shree Bhawani Lumbers                   LOC                   A4     75      Assigned	
Systematix Shares & Stocks              ST non-fund based Bk  A3     885     Reaffirmed	
(India) Ltd                             limits	
(reduced from Rs. 110 crores)	
Tata Capital Financial                  ST Loans              A1+    11000   Assigned	
Services Ltd	
Tata Capital Financial                  ST Debt programme     A1+    45000   Assigned	
Services Ltd	
Ysr Spinning And Weaving Mills          Non-FB Fac            A4     21.5    Reaffirmed	
Pvt Ltd	
(enhanced from Rs. 1.95 crore)	
	
LONG TERM RATINGS:	
-------------------	
	
Action Ginni Devi Cancer                FBL                   BB     260     Reaffirmed	
Hospital	
Action Industrial Corporation           TL                    BB+    20      Revised from	
                                                                                   BBB-	
Action Industrial Corporation           FB, LT Fac            BB+    40      Revised from	
                                                                                   BBB-	
Action International                    FB, LT Fac            BB+    80      Revised from	
                                                                                   BBB-	
Ajay Plastic Industries                 TL                    BB+     100    Revised from	
                                                                                   BBB-	
Ajay Plastic Industries                 FB, LT Fac            BB+     42.5   Revised from	
                                                                                   BBB-	
Ankit International                     TL                    BB     24      Reaffirmed	
Ankit International                     FBL                   BB     26      Reaffirmed	
Balaji Powertronics                     FBL                   A-     73.6    Reaffirmed	
Charishma Hotels Pvt Ltd                Overdraft             BB +  20      Assigned	
Charishma Hotels Pvt Ltd                TL (Rupee)            BB +  305     Assigned	
Charishma Hotels Pvt Ltd                Foreign Currency TL   BB +  125     Assigned	
                                        ($ 2.5 million)	
Charishma Hotels Pvt Ltd                Non Fund Based (BG)   BB +  20      Assigned	
Charishma Hotels Pvt Ltd                Proposed Fund Based   BB +  30      Assigned	
Cmc Ltd                                 LT FB Fac             AA+    1000    Reaffirmed	
Cmc Ltd                                 LT Non-FB Fac         AA+    1500    Reaffirmed	
Diamond Hut (India) Pvt Ltd             FBL                   B      1000    Downgraded	
                                                                                   From	
                                                                                   BB+	
Ecocat (India) Pvt Ltd                  TL                    BBB-   56.9    Reaffirmed	
Ecocat (India) Pvt Ltd                  CC                    BBB-   180     Reaffirmed	
Ecocat (India) Pvt Ltd                  Proposed FB Fac       BBB-   42.1    Reaffirmed	
Euro Forge Pvt Ltd                      TL                    BB+    25      Revised from	
                                                                                   BBB-	
Euro Forge Pvt Ltd                      FB, LT Fac            BB+    60      Revised from	
                                                                                   BBB-	
Ferns Builders & Developers             TL                    ICRA] BBB+   125     Assigned	
General Motors India Pvt Ltd            Long-TL               BBB    8000    Downgraded	
                                                                                   from	
                                                                                   BBB+	
General Motors India Pvt Ltd            LT/ST Working Capital BBB /  4250    Downgraded	
                                        Fac*                  A2             from	
                                                                                   BBB+/	
                                                                                   ICRA]A2+	
* Working capital facilities are interchangeable between Long-Term & Short-Term Fund-Based and
Non-Fund facilities	
Golden Tobacco Ltd                      TL                    C+     65      Revised from	
                                                                                   B	
Golden Tobacco Ltd                      LT, FB limits         C+     443     Revised from	
                                                                                   B	
Jain Rice Mill                          Working Capital Limits B+     160     Assigned	
Kabeer Textiles Pvt Ltd                 FB, LT Fac            BB+    150     Revised from	
                                                                                   BBB-	
Kajaria Ceramics Ltd                    FBL                   A-     2950    Upgraded from	
                                                                                   BBB+	
Kotak Mahindra Investments Ltd          LT Debt Programme     AA     350     Reaffirmed	
Kotak Mahindra Investments Ltd          LT Equity Linked      AA             Withdrawn	
                                        Debenture	
Kotak Securities Ltd                    LT Debt Programme     AA     500     Reaffirmed	
Kotak Securities Ltd                    LT Equity Linked      AA     1250    Withdrawn	
                                        Debenture	
Lala Munni Lal Mange Ram                FBL                   BB+    238.4   Revised from	
Charitable Trust                                                                   BBB-	
Magma Mettcast Ltd                      CC Limits             D      50      Reaffirmed	
Magma Mettcast Ltd                      TL                    D      199.7   Reaffirmed	
Magma Mettcast Ltd                      LC/BG                 D      10      Reaffirmed	
Magma Mettcast Ltd                      Unallocated           D      0.3     Reaffirmed	
Mahan Plastics Pvt Ltd                  FB, LT Fac            BB+    57.5    Revissed from	
                                                                                   BBB-	
Metroworld Tiles Pvt Ltd                TL                    B+     80      Assigned	
Metroworld Tiles Pvt Ltd                LT, FB Limits         B+     40      Assigned	
Micro Industrial Corporation            TL                    BB+    9.6     Revised from	
                                                                                   BBB-	
Micro Industrial Corporation            FB, LT Fac            BB+    163.4   Revised from	
                                                                                   BBB-	
Microtek International Pvt Ltd          FBL                   BBB+   50      Reaffirmed	
MPG Hotels & Infrastructure             TL                    BB+@   886     Assigned	
Ventures Pvt Ltd	
MPG Hotels & Infrastructure             FBL                   BB+@   10      Assigned	
Ventures Pvt Ltd	
Muthoot Hotels Pvt Ltd                  TL                    BB+@   56      Assigned	
Muthoot Hotels Pvt Ltd                  FBL                   BB+@   5       Assigned	
Neelkanth Urban Developers Pvt          CC                    D      950     Revised from	
Ltd                                                                                BB+	
Nikhil Footwears Pvt Ltd                FB, LT Fac            BB+    150     Revised from	
                                                                                   BBB	
Nikhil International                    FB, LT Fac            BB+    150     Revised from	
                                                                                   BBB-	
Nikhil International                    TL                    BB+    6.4     Revised from	
                                                                                   BBB-	
--------------------------------------------------------------------------------------------	
$: 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, E-mail at rru.data@reuters.com)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below