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ICRA ratings for Indian debt instruments-Aug 12
August 12, 2015 / 6:13 AM / 2 years ago

ICRA ratings for Indian debt instruments-Aug 12

Aug 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 11, 2015.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Accord Software & Systems Pvt           Non Fund Based-BG     A1     100     Assigned
Ltd
Accord Software & Systems Pvt           Non Fund Based-Letter A1     20      Assigned
Ltd                                     of Comfort
Accord Software & Systems Pvt           Fund Based/Non Fund   A1     231.8   Assigned
Ltd                                     Based-Unallocated
Ankit International                     Bk Fac                A4     52.5    Suspended
Cherian Varkey Construction             ST, Non-fund Based    A3+    1100    Upgraded
Company Pvt Ltd                                                                    from A3
Edelweiss Commodities Services          ST NCD Programme      A1+    1000    Assigned
Ltd
Gujarat Craft Industries Ltd            ST Non-FBL**          A4     125     Reaffirmed
** includes buyers credit & CEL
Indian Furniture Products Ltd           Non-FBL               A2     250     Reaffirmed
Karan Synthetics India Pvt Ltd          Non Fund Based        A3+   20      Upgraded
                                                                                   from A3
Mahalaxmi Technocast Ltd                Non-Fund Based Bk     A4     250     Assigned
                                        Limits*
*Interchangeable with Rs. 25.00 crore fund based bank limits
Pyramid Technoplast Pvt Ltd             ST, Non-FBL - LOC     A3     200     Assigned
Pyramid Technoplast Pvt Ltd             ST, Non-FBL - Buyer's A3     -       Assigned
                                        Credit *
*sub-limit of Letter of Credit
Pyramid Technoplast Pvt Ltd             BG                    A3     12      Assigned
Sunland Ceramic Pvt Ltd                 Non Fund Based - BG   A4     15      Reaffirmed
Veer Plastics Pvt Ltd                   Non Fund Based        A3+    32.5    Upgraded
                                                                                   from A3

LONG TERM RATINGS:
-------------------
Accord Software & Systems Pvt           Fund Based-CC         A      110     Assigned
Ltd
Accord Software & Systems Pvt           Fund Based-TL         A      35      Assigned
Ltd
Cachar Roller Flour Mills Ltd           FBL - CC              B+     54      Reaffirmed
Cachar Roller Flour Mills Ltd           Unallocated LT Limit  B+     6       Reaffirmed
Cherian Varkey Construction             LT, FB                BBB    440     Upgraded
Company Pvt Ltd                                                                    from
                                                                                   BBB-
Cms Info Systems Ltd                    TL                    AA     105     Revised from
                                                                                   A+
Cms Info Systems Ltd                    FBL (CC/WCTL)         AA     1315    Revised from
                                                                                   A+
Cms Info Systems Ltd                    NFBL (BG/LC)          AA     1380    Reaffirmed
Gujarat Craft Industries Ltd            TL                    BB     101.3   Reaffirmed
Gujarat Craft Industries Ltd            CC/SLC*               BB     159.5   Reaffirmed
*includes foreign bills discounting
Indian Furniture Products Ltd           TL                    BBB    71.4    Reaffirmed
Indian Furniture Products Ltd           FBL - CC              BBB    378.2   Reaffirmed
Jagdamba Sponge Pvt. Ltd.               FB Limits (CC)        B+     55      Reaffirmed
Jrk Industries Pvt Ltd                  Bk Fac                B-     80      Suspended
Kalyani Global Engineering Pvt          LT, FB Fac            A-     600     Reaffirmed
Ltd
Kalyani Global Engineering Pvt          LT, non-FB Fac        A-     900     Reaffirmed
Ltd
Karan Synthetics India Pvt Ltd          CC                    BBB    150     Upgraded
                                                                                   from
                                                                                   BBB-
Karan Synthetics India Pvt Ltd          TL                    BBB    43.5    Upgraded
                                                                                   from
                                                                                   BBB-
Mahalaxmi Technocast Ltd                Fund Based Bk Limits  B      250     Assigned
Ohm Highline Pvt Ltd                    CC                    B-     35      Assigned
Png Tollway Ltd                         TL                    BB+    12645.1 Downgraded
                                                                                   from
                                                                                   BB+
Pyramid Technoplast Pvt Ltd             LT, FBL - TL I        BBB-   3.2     Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - TL II       BBB-   3.2     Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - TL III      BBB-   3.3     Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - TL IV       BBB-   24      Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - TL V        BBB-   7.9     Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - TL VI       BBB-   70      Assigned
Pyramid Technoplast Pvt Ltd             LT, FBL - CC          BBB-   100     Assigned
R.K. Transport Co.                      Non Fund based - BG   BBB-   400     Upgraded
                                                                                   from BB
Rajaram Flour Mills Pvt Ltd             LT- CC                BB-    120     Assigned
Ravani Infrastructure                   TL                    BB     145     Suspended
Seeco Enterprises Pvt Ltd               FBL-TL                B+     50      Reaffirmed
Seeco Enterprises Pvt Ltd               FBL-CC                B+     10      Reaffirmed
Seeco Enterprises Pvt Ltd               Unallocated Limits    B+     10      Reaffirmed
Shree Murugan Flour Mills Pvt           LT- CC                BB     300     Assigned
Ltd
Sunland Ceramic Pvt Ltd                 Fund Based - TL       B+     39.3    Reaffirmed
Sunland Ceramic Pvt Ltd                 Fund Based - CC       B+     40      Reaffirmed
Veer Plastics Pvt Ltd                   CC                    BBB    380     Upgraded
                                                                                   from
                                                                                   BBB-
Veer Plastics Pvt Ltd                   TL                    BBB    218.3   Upgraded
                                                                                   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 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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