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ICRA ratings for Indian debt instruments-Dec 31
December 31, 2013 / 6:27 AM / 4 years ago

ICRA ratings for Indian debt instruments-Dec 31

Dec 31 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 30, 2013.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Retail Ltd                 ST, FB Fac            A2             Reaffirmed
Aditya Birla Retail Ltd                 ST, FB/ non-FB Fac    A2             Reaffirmed
Ajay Protech Pvt Ltd                    BG                    A4     100     Reaffirmed
Ajay Protech Pvt Ltd                    LOC (DP/DA upto 90    A4     30      Reaffirmed
                                        days)*
*sublimit of Inland Bank Guarantee
Green City Ceramic                      Non Fund Based- BG    A4     7       Reaffirmed
R.B Cars Pvt Ltd                        BG                    A4     30      Reaffirmed
(enhanced from Rs. 1.00 Crore)
Ramkumar Textile Pvt Ltd                Non Fund Based        A4     5       Reaffirmed
Reliance Commodities Ltd                ST Non Fund Based Bk  A1+    2000    Reaffirmed
                                        Lines
Reliance Securities Ltd                 ST Non Fund Based Bk  A1+    2000    Reaffirmed
                                        Lines
SRS Meditech Ltd                        LOC Fac               A4     20      Reaffirmed
SRS Meditech Ltd                        LOC Fac (Proposed)    A4     20      Assigned
Sudarshan Chemical Industries           NFBL                  A1     1000    Reaffirmed
Ltd
Sudarshan Europe B.V                    FBF                   A1(SO) 4       Withdrawn
Timco Steel Company                     Non-FBL               A4     20      Reaffirmed
Trinethra Superretail Pvt Ltd           ST, FB/ non-FB Fac    A2     905     Reaffirmed
Enhanced from Rs. 65.00 crore
Varun Castings Pvt Ltd                  NFBF                  A4     50      Assigned

LONG TERM RATINGS:
-------------------
Acme Solar Technologies                 TL                    BB-    1490    Suspended
(Gujarat) Pvt Ltd
Adinath Silks Ltd                       LT FBL                BB     200     Reaffirmed
Enhanced from Rs. 17.00 crore
Aditya Birla Retail Ltd                 LT, TL                BBB+           upgraded 
                                                                                   from
                                                                                   BBB
Aditya Birla Retail Ltd                 LT, FB Fac            BBB+           upgraded 
                                                                                   from
                                                                                   BBB
Ajay Protech Pvt Ltd                    TL                    B+     13.5    upgraded 
                                                                                   from
                                                                                   B
Ajay Protech Pvt Ltd                    CC                    B+     150     upgraded 
                                                                                   from
                                                                                   B
Amar Ginning Factory                    LT-FBL - CC           B+     67.5    Suspended
Arihant Wheels And Cycles Pvt           FBL                   D      67.4    Revised from
Ltd                                                                                B-
Aswani Developers                       Fund based-CC         BB     250     Reaffirmed
Bohra Exports Pvt Ltd                   Fund Based/Non-FBL    BB-/  1000    Reaffirmed
                                        (LC)*                 A4
Note*: Includes sub-limit of Buyers Credit of Rs. 50.00 crore, Cash Credit (fund based) of Rs.
61.90 crore, Letter of Credit of Rs. 40.00 crore and Working Capital D
Bohra Exports Pvt Ltd                   Proposed Limits       BB-/  500     Reaffirmed
                                                              A4
Controls & Schematics Ltd               FBL                   B+     40      Downgraded
                                                                                   from 
                                                                                   BB-
Controls & Schematics Ltd               TL                    B+     0.6     Assigned
Controls & Schematics Ltd               Non-FBL               B+     120     Downgraded
                                                                                   from 
                                                                                   BB-
Controls & Schematics Ltd               Proposed Limits       B+ /   4       Assigned
                                                              A4
Dhanlaxmi Industries                    CC                    B      68      Assigned
Fjm Cylinders Pvt Ltd                   TL                    BB     607.5   Reaffirmed
Fjm Cylinders Pvt Ltd                   CC                    BB     75      Reaffirmed
Green City Ceramic                      Fund Based- TL        B+     20      Reaffirmed
Green City Ceramic                      Fund Based- Car Loan  B+     0.6     Reaffirmed
Green City Ceramic                      Fund Based- CC        B+     40      Reaffirmed
(enhanced from Rs. 2.50 crore)
Khazanchi Jewellers Pvt Ltd             LT Fund Based         B+     102     Revised from
                                                                                   BB-
Kotak Mahindra Prime Ltd                NCD                   AA+    5000    Assigned
Kotak Mahindra Prime Ltd                Subordinated debt     AA+    1000    Reaffirmed
                                        programme
Kotak Mahindra Prime Ltd                Subordinated debt     AA+    2000    Reaffirmed
                                        programme
Kotak Mahindra Prime Ltd                Subordinated debt     AA+    2000    Reaffirmed
                                        programme
Kotak Mahindra Prime Ltd                Subordinated debt     AA+    250     Reaffirmed
                                        programme
Kotak Mahindra Prime Ltd                NCD                   AA+    2000    Reaffirmed
Kotak Mahindra Prime Ltd                NCD                   AA+    8000    Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    8000    Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    8000    Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    8000    Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    10000   Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    10000   Withdrawn
Kotak Mahindra Prime Ltd                NCD                   AA+    10000   Reaffirmed
Kotak Mahindra Prime Ltd                NCD                   AA+    10000   Reaffirmed
Kotak Mahindra Prime Ltd                CC and TL from Bks    AA+    63910   Reaffirmed
Kotak Mahindra Prime Ltd                Nifty linked          PP- MLD      1000    Reaffirmed
                                        Debentures            AA+
Kotak Mahindra Prime Ltd                Nifty linked          PP- MLD      1500    Reaffirmed
                                        Debentures            AA+
Kotak Mahindra Prime Ltd                Nifty linked          PP- MLD      1500    Reaffirmed
                                        Debentures            AA+
Mamta Transformer Pvt. Ltd.             FBL - LT              B      45      Assigned
Mamta Transformer Pvt. Ltd.             Non-FBL - LT          B      35      Assigned
Prime Comfort Products Pvt Ltd          FBL                   B+     225     upgraded 
                                                                                   from
                                                                                   B-
(enhanced from Rs. 17.00 CR
Prime Comfort Products Pvt Ltd          Non Fund Based        B+     225     upgraded 
                                                                                   from
                                                                                   B-
(enhanced from Rs. 5.00 CR
Prime Comfort Products Pvt Ltd          TL                    B+     123     upgraded 
                                                                                   from
                                                                                   B-
(enhanced from Rs. 14.00 CR
R.B Cars Pvt Ltd                        Fund Based LT Limits  BB     120     Reaffirmed
(enhanced from Rs. 8.83 Crore)
Rainbow Rice Pvt Ltd                    FBL                   BB-    480     Revised from
                                                                                   B+
Ramkumar Textile Pvt Ltd                CC                    B+     10      Reaffirmed
Ramkumar Textile Pvt Ltd                EPC/FCPC/FBP/FBD/FCBD B+     112.5   Reaffirmed /
                                                                                   Assigned
(enhanced from 8.75 cr)
Ramkumar Textile Pvt Ltd                Export Gold Card      B+     22.5    Reaffirmed /
                                                                                   Assigned
(enhanced from 1.75 cr)
Shree Khodiyar Oil Industries           CC                    B      130     Reaffirmed
Shree Khodiyar Oil Industries           Proposed Limits       B      20      Assigned
Shri Agrawal Educational And            LT: FBL               B+     240     Assigned
Cultural Society
Enhanced from Rs. 3.00 crore
Shri Sai Jewels Pvt Ltd                 LT/ST, FB Fac         D      488     Reaffirmed
SRS Meditech Ltd                        TL                    B+     85.7    Reaffirmed
(Previous Year Rs. 9.91 Crore)
SRS Meditech Ltd                        CC Fac                B+     80      Reaffirmed
Sudarshan Chemical Industries           TL                    A      2488.5  Downgraded
Ltd                                                                                from 
                                                                                   A-
Sudarshan Chemical Industries           FBL                   A      1850    Downgraded
Ltd                                                                                from 
                                                                                   A-
Timco Steel Company                     FBL/ TL               B+     85      Reaffirmed
Trinethra Superretail Pvt Ltd           LT, TL                BBB+   691.1   Upgraded 
                                                                                   from
                                                                                   BBB
Enhanced from Rs. 31.50 crore
Varun Castings Pvt Ltd                  FBF                   B+     40      Suspended
Varun Jewels Pvt Ltd                    LT/ST, FB Fac         D      1458    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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