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
------                                  ----------            ------    -----     ---------
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
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

Utv Software Communications Ltd         CP programme          A1+    2000    Withdrawn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
*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
Sree Vidyanikethan Educational          TL                    BB     331.9   Reaffirmed
Sree Vidyanikethan Educational          Unallocated           BB     118.1   Reaffirmed
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

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