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ICRA ratings for Indian debt instruments-Sep 11
September 11, 2013 / 5:53 AM / 4 years ago

ICRA ratings for Indian debt instruments-Sep 11

Sep 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of September 10, 2013.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
A.S. Transport Pvt Ltd                  Non-FB Fac            A4+    15      Reaffirmed
A.S. Transport Pvt Ltd                  Proposed non-FB Fac   A4+    5       Reaffirmed
Gmr Energy Ltd                          NFBL                  A4+    13000   Reaffirmed
Jet Granito Pvt Ltd                     ST-NFBL               A4     46.5    Suspended
Lupin Ltd                               ST FBF                A1+    9500    Reaffirmed
Lupin Ltd                               ST NFBF               A1+    3600    Reaffirmed
P. S. Steel Tubes Ltd                   Non-FBL (BG/LOC and   A3     29      Reaffirmed
                                        Credit Exposure Limit)
Sharavathy Conductors Pvt Ltd           NFBL                  A4     756     Reaffirmed
Sri Venkatesh Iron & Alloys             NFBL*                 A4+    22.4    Assigned
(India) Ltd
*Non fund based limit includes BG of Rs 2.00 crore and derivate limit of Rs 0.24 crore
Zetatek Industries Ltd                  LOC                   A4     7.5     Reaffirmed

A.S. Transport Pvt Ltd                  FB Fac                BB+    320     Reaffirmed
A.S. Transport Pvt Ltd                  Proposed FB Fac       BB+    80      Reaffirmed
Amarprakash Developers Pvt Ltd          LT, FB Fac            BB     2150    Assigned
Blackstone Gem & Jewellery              FBL (Export Bills     B+     150     Upgraded from
                                        Discounting)                               B
Cinematica Digitals Pvt Ltd             FBL (TL)              BB     250     Reaffirmed
Emco Energy Ltd                         TL programme          BBB-   26100   Reaffirmed
Gmr Energy Ltd                          TL programme          BB     394.1   Assigned
Gmr Kamalanga Energy Ltd                TL programme          BB     34050   Revised from
Gmr Kamalanga Energy Ltd                NFBL                  BB     4500    Revised from
Gmr Power Corporation Ltd               FBL                   BBB-   730     Reaffirmed
Gmr Power Corporation Ltd               NFBL                  BBB-   3287    Reaffirmed
Gmr Power Corporation Ltd               ST loan programme     BBB-   2500    Reaffirmed
Gmr Vemagiri Power Generation           FBL                   BBB-   150     Reaffirmed
Gmr Vemagiri Power Generation           NFBL                  BBB-   2700    Reaffirmed
Indo-Us Mim Tec Pvt Ltd                 NCD#                  A+     500     Assigned
# the issue is proposed
Jet Granito Pvt Ltd                     LT-FBL - CC           BB-    150     Suspended
Jet Granito Pvt Ltd                     LT-FBL - TL           BB-    148.3   Suspended
Lic Nomura Mutual Fund Asset            LIC Nomura MF Capital AAA    -       Assigned
Management Co. Ltd                      Protection Oriented   mfs(SO)!
                                        Fund - Series 1 & 2
Lupin Ltd                               NCD                   AA+    1000    Reaffirmed
Lupin Ltd                               LT FBF                AA+    1500    Reaffirmed
Lupin Ltd                               LT NFBF               AA+    400     Reaffirmed
P. S. Steel Tubes Ltd                   FBL - TL              BBB-   39.2    Reaffirmed
Reduced from Rs. 9.17 crore
P. S. Steel Tubes Ltd                   FBL - CC              BBB-   280     Reaffirmed
Sharavathy Conductors Pvt Ltd           FBL (proposed)        BB-    44      Revised from
Sri Seetha Rama Raw & Boiled            CC                    B+     48      Assigned
Rice Mill
Sri Seetha Rama Raw & Boiled            Unallocated limits    B+ /   62      Assigned
Rice Mill                                                     A4
Sri Venkatesh Iron & Alloys             FBL - CC              BB     120     Assigned
(India) Ltd
Sri Venkatesh Iron & Alloys             FBL - TL              BB     41.1    Assigned
(India) Ltd
Vitthal Corporation Ltd                 LT, FBL -TL           B-     1700    Suspended
Vitthal Corporation Ltd                 LT, FBL -CC           B-     1300    Suspended
Zetatek Industries Ltd                  CC                    BB     30      Reaffirmed
Zetatek Industries Ltd                  BG                    BB     107.5   Reaffirmed
Zetatek Industries Ltd                  Unallocated           BB     85      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

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