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ICRA ratings for Indian debt instruments-Aug 27
August 27, 2013 / 6:18 AM / 4 years ago

ICRA ratings for Indian debt instruments-Aug 27

Aug 27 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 26, 2013.

COMPANY                                 INSTRUMENT            RATING     AMOUNT    MOVEMENT
                                                                        (RS.MLN)
------                                  ----------            ------     -----     ---------
SHORT TERM RATINGS:
-------------------
Afflatus Trading Pvt Ltd                Non-FBL               A2+    80      Assigned
                                                              (SO)
Ashwin Vanaspati Industries             LOC                   A4+    40      Upgraded from
Pvt Ltd                                                                            A4
(reduced from Rs. 10.00 crore)
Den Networks Ltd                        Non FB Fac            A1     150     revised from
                                                                                   A2
Ester Industries Ltd                    ST FB Limits          A3+    900     Reaffirmed
Ester Industries Ltd                    ST Non-FBL            A3+    840     Reaffirmed
Exilant Technologies Pvt Ltd            Packing Credit Of     A2+    120     Assigned
                                        Foreign Currency -
                                        Fund Based
Exilant Technologies Pvt Ltd            Export Packing Credit A2+    120     Assigned
                                        (Sub limit of PCFC) -
                                        Fund Based
Exilant Technologies Pvt Ltd            Foreign Usance Bill   A2+    120     Assigned
                                        Discounted (Sub limit
                                        of PCFC) - Fund Based
Exilant Technologies Pvt Ltd            Derivatives - NFBL    A2+    25      Assigned
Hariom Ingots & Power Pvt. Ltd.         Non-FBL               A4     55.6    Assigned
Imperiall Technoforge Pvt Ltd           Letter of Guarantee   A4     4       Assigned
Jalaram Agri Exports                    Credit Exposure Limit A4     20      Reaffirmed
Kanhha Cables Pvt Ltd                   NFBL                  A4     170     Reaffirmed
Kiran Infra Engineers Ltd               Non FB Fac            A4+    850     Reaffirmed
(enhanced from 44.0cr)
Kiran Infra Ispat Ltd                   Non FB Fac            A4     100     Reaffirmed
N. K. Proteins Ltd                      ST fund based/ non-FBL A4     1100    revised from
                                                                                   A4+
Nezone Pipes & Structures               NFBL - BG/LOC         A4     50      Assigned
Rane Engine Valve Ltd                   ST FB Fac             A2     325     Revised from
                                                                                   A2+
Rane Engine Valve Ltd                   ST FB Fac - sublimit  A2     220     Revised from
                                                                                   A2+
Rane Engine Valve Ltd                   ST non FB Fac         A2     122     Revised from
                                                                                   A2+
Rane Engine Valve Ltd                   ST non FB Fac -       A2     175     Assigned
                                        sublimit
Rane Engine Valve Ltd                   CP                    A2     100     Revised from
                                                                                   A2+
Rohini Industrial Electricals           NFBL                  D      1300    Revised from
Ltd                                                                                A2+
Rohit Steels                            Non Fund Based        A4     53.5    Reaffirmed
(enhanced from 1.95cr)
Rucha Engineers Pvt Ltd                 ST Fund Based         A3+    30      Assigned
Rucha Engineers Pvt Ltd                 ST Non Fund Based     A3+    30      Assigned
Sabari Exim Pvt Ltd                     Non-FB Fac            A4     930     Assigned
The Ratnakar Bank Ltd                   CD Programme          A1+    10000   Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Rane Engine Valve Ltd                   Fixed deposits        MA-          -       Reaffirmed
                                        programme
The Ratnakar Bank Ltd                   Fixed Deposit         MAA-         -       Assigned
                                        Programme

LONG TERM RATINGS:
-------------------
Ashwin Vanaspati Industries             BG                    -            -       -
Pvt Ltd
(Reduced from Rs. 0.50 crore)
Ashwin Vanaspati Industries             CC                    BB+    50      Upgraded from
Pvt Ltd                                                                            C+
Den Networks Ltd                        CC Fac                A      750     revised from
                                                                                   BBB+
Den Networks Ltd                        TL                    A      4138.6  revised from
                                                                                   BBB+
Ester Industries Ltd                    TL                    BBB    1591    Reaffirmed
(reduced from 187.25cr)
Ester Industries Ltd                    LT FBL                BBB    400     Reaffirmed
Ester Industries Ltd                    LT Non-FBL            BBB    93.7    Reaffirmed
(reduced from 13.4cr)
Exilant Technologies Pvt Ltd            Proposed TL - Fund    A      355     Assigned
                                        Based
Exilant Technologies Pvt Ltd            CC (Sub limit of      A      50      Assigned
                                        PCFC) - Fund Based
G.M. Exports Pvt. Ltd                   CC                    B+     4       Assigned
G.M. Exports Pvt. Ltd                   TL                    B+     10.7    Assigned
G.M. Exports Pvt. Ltd                   EPC                   B+     27      Assigned
G.M. Exports Pvt. Ltd                   Unallocated           B+     18.3    Assigned
Hariom Ingots & Power Pvt. Ltd.         TL                    B+     124.4   Assigned
Hariom Ingots & Power Pvt. Ltd.         FB Limits (CC)        B+     200     Assigned
Imperiall Technoforge Pvt Ltd           CC                    B      50      Assigned
Imperiall Technoforge Pvt Ltd           TL                    B      65.8    Assigned
Jalaram Agri Exports                    Export Packing Credit* B+ /   100     Reaffirmed
                                                              A4
* Fully interchangeable with FBP/FBD
Kalpataruvu Spinning Mills Ltd          LT FB Fac             B+     257.4   Suspended
Kanhha Cables Pvt Ltd                   FBL                   BB     30      Reaffirmed
Kanhha Cables Pvt Ltd                   Unallocated           BB     0.5     Reaffirmed
Kiran Infra Engineers Ltd               FB Fac                BB+    120     Reaffirmed
(enhanced from 3.0cr)
Kiran Infra Ispat Ltd                   FB Fac                BB-    150     Reaffirmed
M/S Champalal K Khinvasara              TL                    BB     240     Assigned
Marvel Sigma Homes Pvt Ltd              FBL                   BB+    515     Withdrawn/
                                                              (SO) /               Assigned
                                                              D
(Enhanced from Rs. 40.00 crore)
Miraj Products Pvt Ltd                  LT fund based Bk Fac  BB+    250     Suspended
N. K. Proteins Ltd                      LT FBL                B-     745     revised from
                                                                                   BB+
Nezone Pipes & Structures               FBL - TL              B      162.5   Upgraded from
                                                                                   D
Nezone Pipes & Structures               FBL - CC              B      170     Upgraded from
                                                                                   D
Nezone Pipes & Structures               FBL - Standby Line of B      17      Upgraded from
                                        Credit                                     D
Ramineni Agro Industries (P)            LT FB Fac             B-     150     Suspended
Ltd
Rane Engine Valve Ltd                   TL Fac                BBB+   500     Revised from
                                                                                   A- 
Rane Engine Valve Ltd                   LT FB Fac             BBB+   250     Revised from
                                                                                   A-
Rane Engine Valve Ltd                   LT FB Fac - sublimit  BBB+   175     Assigned
RCS Steel & Auto Pvt Ltd                FBL                   B      5       Assigned
RCS Steel & Auto Pvt Ltd                TL                    B      70      Assigned
Rohini Industrial Electricals           FBL                   D      250     Revised from
Ltd                                                                                BBB+
Rohit Steels                            Working Capital Limits BB-    100     Reaffirmed
(enhanced from 4.0cr)
Rohit Steels                            TL                    BB-    60      Reaffirmed
Rohit Steels                            Unallocated           BB-    6.5     Reaffirmed
Rucha Engineers Pvt Ltd                 CC                    BBB    220     Reaffirmed
reduced from Rs. 23.00 crore
Rucha Engineers Pvt Ltd                 TL                    BBB    130     Assigned
Sabari Exim Pvt Ltd                     Fund based facility   B      370     Assigned
SFL Trust 2012                          PTC Series A Second   AAA    -       Retained /
                                        Loss Facility         (SO)                 Revised from
                                                                                   A(SO)
Shiv Shakti Inter Globe                 FBL                   BB     480     Revised from
Exports Pvt Ltd                                                                    BB-
Sindhu Cargo Services Ltd               TL (Proposed)         BB     430     Assigned
Sindhu Cargo Services Ltd               LT FB Fac             BB     320     Assigned
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Dec-11                                 (SO)
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Feb-12                                 (SO)
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Feb-12                                 (SO)
II
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Jan -11                                (SO)
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Mar -10                                (SO)
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Mar -11                                (SO)
Sundaram Finance Ltd. Cv &              Purchaser Payouts     AAA    -       Retained
Tractor Loan Pool D.A. Mar-12                                 (SO)
Sundaram Finance Ltd. Cv Pool           Purchaser Payouts     AAA    -       Retained
D.A. Feb-09 II                                                (SO)
Sundaram Finance Ltd. Cv Pool           Purchaser Payouts     AAA    -       Retained
D.A. Mar-09 II                                                (SO)
The Winning Edge Agro Products          CC                    B+     40      Assigned
The Winning Edge Agro Products          TL                    B+     50      Assigned
The Winning Edge Agro Products          Unallocated           B+     7.5     Assigned
Utkarsh Micro Finance Pvt Ltd           NCD Programme         BBB-   160     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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