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ICRA ratings for Indian debt instruments-Dec 19
December 19, 2016 / 10:32 AM / a year ago

ICRA ratings for Indian debt instruments-Dec 19

Dec 19 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 16, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Airona Tiles Ltd                        BG (Proposed)         ICRA A4     22.7    Assigned
Bikanervala Foods Pvt Ltd               NFBL                  ICRA A1     257.3   Assigned
Cd Integrated Services Ltd              Bk Fac                ICRA A3+    675     Suspended
Dhruvdesh Metasteel Pvt Ltd             ST - Non Fund Based   ICRA A4     70      Assigned
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+    25000   Assigned
                                        Financing)
Jaxx Vitrified Pvt Ltd                  Non-fund Based BG     ICRA A3     101     Revised from
                                                                                  ICRA A3+
Jaxx Vitrified Pvt Ltd                  Non-fund Based -FLC*  ICRA A3             Revised from
                                                                                  ICRA A3+
K N Diamond                             ST Scale - FBL        ICRA A4     270     Suspended
Khanna Industrial Pipes Pvt Ltd         ST Non-FBL            ICRA A3     191.1   Revised from
                                                                                  ICRA A4+
Khanna Industrial Pipes Pvt Ltd         ST FBL                ICRA A3     80      Revised from
Kraft Powercon India Pvt Ltd            ST, NFBL - BG         ICRA A3     40      Assigned
                                        (Regular)
Kraft Powercon India Pvt Ltd            ST, NFBL - BG (one    ICRA A3     12.6    Assigned
                                        time)
Kraft Powercon India Pvt Ltd            ST, NFBL - LOC        ICRA A3     10      Assigned
Ridley Life Science Pvt Ltd             ST - Non fund based   ICRA A4+    20      Assigned
Nirmal Bang Securities Pvt Ltd          ST non-fund based Bk  ICRA A2+    2000    Suspended
                                        lines
Tata Power Delhi Distribution           ST Debt Programme     ICRA A1+    2000    Reaffirmed
Ltd                                                                               ICRA A4+
Standard Chartered Securities           ST debt               ICRA A1+    500     Withdrawn
(India) Ltd
Mas Financial Services Ltd              CP Programme          ICRA A1     500     Withdrawn
Mcs Trading Company Pvt Ltd             non-fund based ST Bk  ICRA A4     100     Suspended
                                        Fac
Rbl Bank Ltd                            CDs                   ICRA A1+    30000   Assigned
Sentini Bioproducts Pvt Ltd             BG                    ICRA A3+    30      Reaffirmed
Shabnam Petrofils Pvt Ltd               Non Fund Based        ICRA A4;    2.3     Reaffirmed
Shree Gopinath Paper Mills Pvt          LOC                   ICRA A4     50      Reaffirmed
Ltd
Shree Gopinath Paper Mills Pvt          BG                    ICRA A4     10      Reaffirmed
Ltd
Shree Gopinath Paper Mills Pvt          Credit Exposure Limit ICRA A4     2.5     Reaffirmed
Ltd
Standard Chartered Securities           Bk Fac                ICRA A1+    1800    Withdrawn
(India) Ltd
Tata Power Delhi Distribution           NFBL                  ICRA A1+    7250    Reaffirmed
Ltd
Tata Power Delhi Distribution           CP                    ICRA A1+    3000    Reaffirmed
Ltd
Wall Street Finance Ltd                 non fund based ST Bk  ICRA A1     20      Suspended
                                        Fac

LONG TERM RATINGS:
-------------------
Kraft Powercon India Pvt Ltd            LT, FBL - TL          ICRA BBB-   40      Assigned
Lavgan Dockyard Pvt Ltd                 Financial Strength    Grade 4             Assigned
                                        Grade
Airona Tiles Ltd                        CC (Proposed)         ICRA BB-    94.7    Assigned
Airona Tiles Ltd                        TL (Proposed)         ICRA BB-    15      Assigned
Atpac Industries                        LT - Fund based       ICRA BB+    80      Reaffirmed
Bikanervala Foods Pvt Ltd               FBL                   ICRA A+     175     Assigned
Bikanervala Foods Pvt Ltd               TL                    ICRA A+     248.7   Assigned
Bikanervala Foods Pvt Ltd               Unallocated Bk limits ICRA A+ /   239     Assigned
                                                              ICRA A1
Dabur India Ltd                         NCD                   ICRA AAA    150     Reaffirmed
Dhruvdesh Metasteel Pvt Ltd             LT - Fund Based (CC)  ICRA B      200     Assigned
Dhruvdesh Metasteel Pvt Ltd             LT - TL               ICRA B      280     Assigned
Ecl Finance Ltd                         NCD Programme         ICRA AA     20000   Assigned
Faiz Industries                         FB - Working Capital  ICRA B+     95      Reaffirmed
Faiz Industries                         FB - TL               ICRA B+     7.5     Reaffirmed
Jaxx Vitrified Pvt Ltd                  FB TL                 ICRA BBB-   591.1   Revised from
                                                                                  ICRA BBB
Jaxx Vitrified Pvt Ltd                  FB CC                 ICRA BBB-   180     Revised from
                                                                                  ICRA BBB
Jaxx Vitrified Pvt Ltd                  Unallocated Limits    ICRA BBB-   172.7   Assigned
                                                              / ICRA A3
Khanna Industrial Pipes Pvt Ltd         LT FBL                ICRA BBB-   91.5    Revised from
                                                                                  ICRA BB+
Khanna Industrial Pipes Pvt Ltd         TL                    ICRA BBB-   108.3   Revised from
                                                                                  ICRA BB+
Kns Infrastructure Pvt Ltd              TL                    ICRA BB+    700     Withdrawn
Kraft Powercon India Pvt Ltd            LT, FBL- CC           ICRA BBB-   75      Assigned
Mas Financial Services Ltd              Subordinated debt     ICRA A-     600     Reaffirmed
                                        programme
Mas Financial Services Ltd              LT fund based TL      ICRA A-     571.9   Reaffirmed
Mas Financial Services Ltd              LT fund based CC      ICRA A-     7434.1  Withdrawn
                                        facility 7
Mas Financial Services Ltd              LT Unallocated limits ICRA A-     10494   Withdrawn
Mas Financial Services Ltd              Issuer Rating         IrA-                Withdrawn
N.K. Gupta Builders Pvt Ltd             FB Fac                ICRA  BB /  120     Suspended
                                                              ICRA A4+
Nirmal Bang Securities Pvt Ltd          LT fund based Bk linesICRA BBB+   420     Suspended
Pyramid Finance Pvt Ltd                 Bk lines programme    ICRA BBB    190     Suspended
Raj Corporation Ltd                     fund and non FB Fac   ICRA  BB+   515     Suspended
                                                              / ICRA 
                                                              A4+
Ridley Life Science Pvt Ltd             LT - Fund based       ICRA BB     55      Assigned
S.S. Construction                       fund based and non FB ICRA  B-    80      Suspended
                                        Fac
Sentini Bioproducts Pvt Ltd             CC                    ICRA BBB    650     Outlook
                                                                                  revised from
                                                                                  Stable  
                                                                                  to  Positive 
Sentini Bioproducts Pvt Ltd             TL                    ICRA BBB    150     outlook
                                                                                  revised from
                                                                                  Stable  
                                                                                  to  Positive
Shabnam Petrofils Pvt Ltd               Fund Based-CC         ICRA BB     80      Reaffirmed
Shabnam Petrofils Pvt Ltd               Fund Based-TL         ICRA BB     65.9    Reaffirmed
Shabnam Petrofils Pvt Ltd               Unallocated Limit     ICRA BB /   44.1    Reaffirmed
                                                              ICRA A4 ;
Shree Gopinath Paper Mills Pvt          CC                    ICRA BB-    110     Reaffirmed
Ltd
Shree Gopinath Paper Mills Pvt          TL                    ICRA BB-    38.1    Reaffirmed
Ltd
Shree Gopinath Paper Mills Pvt          Unallocated           ICRA BB-    32.4    Assigned
Ltd
Sicom Investments And Finance           Bk Fac                ICRA BBB+   750     Suspended
Ltd                                                           /A2+
Tata Power Delhi Distribution           TL                    ICRA AA-    39000   Reaffirmed
Ltd
Tata Power Delhi Distribution           FBL                   ICRA AA-    2450    Reaffirmed
Ltd
Tata Sons Ltd                           NonConvertible        ICRA AAA    12500   Assigned
                                        Debenture programme
Tirupati Educational And                Bk Fac                ICRA D      183     Suspended
Welfare Trust
Wall Street Finance Ltd                 fund based LT Bk Fac  ICRA LA     480     Suspended
--------------------------------------------------------------------------------------------
$: 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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