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ICRA ratings for Indian debt instruments-Jan 29
January 29, 2013 / 4:32 AM / 5 years ago

ICRA ratings for Indian debt instruments-Jan 29

Jan 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 28, 2013.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Appl Industries Ltd                     Non-FBL               A2     100     Reaffirmed
Baba Bearings Pvt Ltd                   LOC                   A4     9       Assigned
Baba Bearings Pvt Ltd                   Unallocated           A4     2.3     Assigned
Kiran Udyog Pvt Ltd                     Non-FB Fac            A3+    270     Reaffirmed
Oshiya Industries Pvt Ltd               NFBL (Line of Credit) A4     90      Assigned
Oshiya Industries Pvt Ltd               Proposed - NFBL       A4     60      Assigned
Puran Chand Rice Mills                  fund based and non FB A4     202     Suspended
Saboo Engineers Pvt Ltd                 ST fund based Bk      A4+    65      Suspended

Aparna Infra Pvt Ltd                    LT FBL                BB+    150     Suspended
Aparna Infra Pvt Ltd                    LT NFBL               BB+    233.5   Suspended
Aparna Infra Pvt Ltd                    Unallocated           BB+    366.5   Suspended
Appl Industries Ltd                     TL                    BBB    156.5   Reaffirmed
Appl Industries Ltd                     CC Fac                BBB    260     Reaffirmed
Appl Industries Ltd                     Proposed FB Fac       BBB    163.5   Reaffirmed
Appl Industries Ltd                     FB Fac                BBB /  120     Reaffirmed
Aurora Sri Venkateswara Swamy           Bk Fac                ICRA]B+      123     Suspended
Steel & Alloys Pvt Ltd
Baba Bearings Pvt Ltd                   TL                    B+     22.2    Assigned
Baba Bearings Pvt Ltd                   CC                    B+     26      Assigned
Gmr Highways Ltd                        NCD I                 BBB    1250    Revised from
Gmr Highways Ltd                        NCD II                BBB+   3750    Withdrawn
!conditional rating
Interglobe Hotels Pvt Ltd               TL                    BBB-   3790    Reaffirmed
Interglobe Hotels Pvt Ltd               Non-FB Limits         BBB-   280     Reaffirmed
Keystone Infracon India Pvt Ltd         Bk Fac                D      700     Suspended
Kiran Udyog Pvt Ltd                     TL                    BBB    305.9   Reaffirmed
Kiran Udyog Pvt Ltd                     CC Fac                BBB    300     Reaffirmed
Oshiya Industries Pvt Ltd               FBL (CC)              BB-    60      Assigned
Oshiya Industries Pvt Ltd               Proposed - FBL        BB-    20      Assigned
Para Products Pvt Ltd                   CC                    B+     92      Revised from
Para Products Pvt Ltd                   CC cum LOC            B+/    100     Revised from
                                                              A4             from
Rajhans Enterprises                     Fund Based            BB     32      Reaffirmed
Rajhans Enterprises                     TL                    BB     132.5   Reaffirmed
Rajhans Enterprises                     Non Fund Based        BB     32      Reaffirmed
Saboo Engineers Pvt Ltd                 FBL                   BB+    20      Suspended
Shree Bharat Motors Ltd                 FBL - CC              BB+    50      Reaffirmed
Shree Narmada Architectural             LT FB Fac             BB-    375     Suspended
Systems Ltd
Shree Narmada Architectural             LT non FB Fac         BB-    25      Suspended
Systems Ltd
Srinivasa Enterprises                   Bk Fac                BB /   115     Suspended
Venus Lifestyles Ltd                    Fund based and non FB BB+ /  534.4   Suspended
                                        Fac                   A4+
$: 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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