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ICRA ratings for Indian debt instruments-Dec 13
December 13, 2016 / 10:03 AM / a year ago

ICRA ratings for Indian debt instruments-Dec 13

Dec 13 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 12, 2016.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Accord Plus Ceramics Pvt Ltd            Non-fund Based BGs    ICRA A4      23      Reaffirmed
Deepak Nitrite Ltd                      Non-FBL               ICRA A1+     1700    Reaffirmed
Deepak Nitrite Ltd                      CP programme          ICRA A1+     600     Reaffirmed
Hariom Pulses                           Fund based - ST       ICRA A4      30      Reaffirmed
Margadarsi Marketing Pvt Ltd            NFBL                  ICRA A4      2.1     Reaffirmed
Pvm Enterprises Pvt Ltd                 FB Bk Fac             ICRA A4+     1.5     Suspended
Sunrise Containers Ltd                  ST non-FBL            ICRA A1      130     Reaffirmed
Miraj Metals                            Dena Bk: Non Fund     ICRA D       130     Revised from
                                        Based LOC/ Buyers                          ICRA A4
                                        Credit Limit

Accord Plus Ceramics Pvt Ltd            FB TL                 ICRA B+      130     Revised from
                                                                                   ICRA B
Accord Plus Ceramics Pvt Ltd            FB CC                 ICRA B+      50      Revised from
                                                                                   ICRA B
Ajab Singh And Company                  FB Fac                ICRA BB-     50      Upgraded
                                                                                   from ICRA B+
reduced from 6.50 CR
Ajab Singh And Company                  Non-FB Fac            ICRA BB-     150     Upgraded
                                                                                   from ICRA B+
reduced from 4 CR
Arawali Phosphates Ltd                  Bk Fac                ICRA B+      75      Suspended
Dandona Finance Ltd                     LT Bk Lines           ICRA BB-     450     Reaffirmed
Deepak Nitrite Ltd                      TL                    ICRA A+      1060    Reaffirmed
reduced from Rs. 140 crore
Deepak Nitrite Ltd                      FBL                   ICRA A+      3000    Reaffirmed
Deepak Nitrite Ltd                      Fund & Non-FBL        ICRA A+      1500    Reaffirmed
                                        (Interchangeable )    /A1+
enhanced from Rs. 130 crore
Deepak Phenolics Ltd                    TL                    ICRA BBB     7200    Reaffirmed
Green Infra Wind Farm Assets            TL                    ICRA A-      1980    Upgraded
Ltd                                                                                from
                                                                                   ICRA BBB+
Green Infra Wind Farm Assets            NCD                   ICRA A-      500     Upgraded
Ltd                                                                                from
                                                                                   ICRA BBB+
Hari Kripa Business Ventures            FB Limits - LT        ICRA B       310     Reaffirmed
Pvt Ltd
enhanced from 17.50 CR
Hari Kripa Business Ventures            Non-FBL - LT/ST       ICRA B/A4    30      Reaffirmed
Pvt Ltd
enhanced from 2.50 CR
Hariom Pulses                           Fund based - LT       ICRA B       93.2    Reaffirmed
enhanced from 6.32 CR
High Point Properties Pvt Ltd           NCD                   ICRA AA      4250    Reaffirmed
ICFAI Foundation For Higher             TL                    ICRA A-      149.5   Upgraded
Rs. 19.8 crore earlier
ICFAI Foundation For Higher             Working Capital       ICRA A-      100     Upgraded
Education                               Demand Loan
ICFAI University Sikkim                 Working capital       ICRA A-      150     Upgraded
                                        demand loan           (SO)                 from
                                                                                   ICRA A-(SO)
ICFAI University Sikkim                 TL                    ICRA B+      30      Reaffirmed
revised from 5.65 CR
ICFAI University Sikkim                 Unallocated/ Proposed ICRA B+      80      Reaffirmed
revised from 5.35 CR
ICFAIAN Foundation                      FBL (Working Capital  ICRA A-      250     Upgraded
                                        Demand Loan)          (SO)                 from ICRA B+
Indian Renewable Energy                 GoI Fully Serviced    ICRA AAA     40000   Assigned
Development Agency Ltd                  Bonds Programme
Margadarsi Marketing Pvt Ltd            FBL                   ICRA BB-     120     Reaffirmed
Margadarsi Marketing Pvt Ltd            Unallocated Limits    ICRA BB- /   43      Reaffirmed
                                                              ICRA A4
Miraj Metals                            Dena Bk: Fund Based   ICRA D       20      Revised from
                                        CC Limit                                   ICRA BB-
Nsc International Pvt Ltd.              Bk Fac                ICRA BB-     150     Suspended
Paras Dyeing And Printing Mills         FB Bk Fac             ICRA B+      60      Suspended
Pvm Enterprises Pvt Ltd                 FB Bk Fac             ICRA BB      98.5    Suspended
Reliable Spaces Pvt Ltd                 LT, TL                ICRA B+      1850    Assigned
Shivalik Fasteners Pvt Ltd              Bk Fac                ICRA BB-     96      Suspended
Shree Umiya Cotspin Pvt Ltd             Unallocated Limits    ICRA BB-     100     Assigned
Sri Hamuma Enterprises                  CC Fac                ICRA B+      90      Suspended
Sri Hamuma Enterprises                  Unallocated limits    ICRA B+      17.5    Suspended
Sunrise Containers Ltd                  LT FBL                ICRA A+      320     Upgraded
                                                                                   from ICRA A
Sunrise Containers Ltd                  TL                    ICRA A+      200     Upgraded
                                                                                   from ICRA A
The ICFAI Society                       FBL                   ICRA A-      814.3   Upgraded
                                                                                   ICRA BBB+
reduced from 148.87 CR
The ICFAI Society                       Unallocated/ Proposed ICRA A-      2285.7  Upgraded
                                        Limits                                     from
                                                                                   ICRA BBB+
increase from 161.13 CR
$: 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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