March 7, 2013 / 7:27 AM / 5 years ago

ICRA ratings for Indian debt instruments-Mar 7

Mar 7 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 6, 2013.


COMPANY                                 INSTRUMENT            RATING    AMOUNT    MOVEMENT
                                                                        (RS.MLN)
------                                  ----------            ------    -----     ---------
SHORT TERM RATINGS:
-------------------
Eternal Renewable Energy                Off-grid solar        SP 3C        -       Assigned
Solutions                               projects
Ganpati Ispat Pvt. Ltd.                 Non-FBL               A4     17.5    Assigned
Genus Electrotech Ltd                   ST, non-FBL           A2     300     Assigned
Mepani Brothers                         ST non-fund based     A4     17.5    Assigned
                                        facility
Mohan Meakin Ltd                        Non-fund based Bk Fac A4     60      Reaffirmed
Polynova Industries Ltd                 ST, non-FB Fac        A2     34      Assigned
R&B Denims Ltd                          ST LOC (sub-limit of  A4     100     Assigned
                                        TL facility)
R&B Denims Ltd                          ST BG                 A4     30      Assigned
Tirumala Seven Hills Pvt Ltd            NFBL - BG             A4     320     Reaffirmed
Tirumala Seven Hills Pvt Ltd            NFBL - LOC            A4     100     Reaffirmed

LONG TERM RATINGS:
-------------------
Utv Software Communications Ltd         CP programme          A1+    2000    Withdrawn
Down Town Work Pvt Ltd                  Line of credit        B+     25      Suspended
Ganpati Ispat Pvt. Ltd.                 FB Limits (CC)        B      42.5    Assigned
Geetha Cotton Mills Pvt Ltd             FBL                   B      70      Reaffirmed
Genus Electrotech Ltd                   LT, TL                BBB    235     Assigned
Genus Electrotech Ltd                   LT, FBL               BBB    250     Assigned
Mepani Brothers                         TL                    B+     17.8    Assigned
Mepani Brothers                         LT fund based facility B+     35      Assigned
Mepani Brothers                         Proposed Fac*         B+ /   74.7    Assigned
                                                              A4
*Rated on both long-term and short-term scales
Mohan Meakin Ltd                        fund based Bk Fac     B+     552     Reaffirmed
Pedvak Cranes Pvt Ltd                   CC                    B+     30      Assigned
Pedvak Cranes Pvt Ltd                   TL                    B+     70      Assigned
Polynova Industries Ltd                 LT-FB Fac             BBB    20      Assigned
Punjab Basmati Rice Ltd                 Sanctioned FBL        BB     680     Reaffirmed
Punjab Basmati Rice Ltd                 Unallocated Limits    BB     15.9    Reaffirmed
R&B Denims Ltd                          LT Loans              B+     200     Assigned
R&B Denims Ltd                          LT CC Fac             B+     84      Assigned
R&B Denims Ltd                          LT Proposed CC Fac    B+     36      Assigned
Rizon Laminates Pvt Ltd                 CC*                   B      60      Assigned
* LC sublimit of Rs. 2.00 crore
Rizon Laminates Pvt Ltd                 TL                    B      74.5    Assigned
Shree Sita Agro Foods Pvt Ltd           TL                    B+     4       Assigned
Shree Sita Agro Foods Pvt Ltd           CC                    B+     70      Assigned
Sree Vidyanikethan Educational          FBL                   BB     50      Reaffirmed
Trust
Sree Vidyanikethan Educational          TL                    BB     331.9   Reaffirmed
Trust
Sree Vidyanikethan Educational          Unallocated           BB     118.1   Reaffirmed
Trust
Sri Indra Solvent Oils Pvt Ltd          FBL                   D      70      Downgraded
                                                                                   from B+
Tirumala Seven Hills Pvt Ltd            FBL - CC              BB-    40      Downgraded
                                                                                   from BB
UTV Software Communications Ltd         Long-TL               A+     500     Withdrawn
UTV Software Communications Ltd         LT, FB Fac            A+     8610    Withdrawn
UTV Software Communications Ltd         LT, non-FB Fac        A+     965     Withdrawn
UTV Software Communications Ltd         LT debt (including    A+     2000    Withdrawn
                                        NCD programme)
Vijay Transformers                      CC                    D      25      Assigned
Vijay Transformers                      LC                    D      10      Assigned
Vijay Transformers                      BG                    D      30      Assigned
--------------------------------------------------------------------------------------------
$: 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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