December 23, 2016 / 10:51 AM / in a year

ICRA ratings for Indian debt instruments-Dec 23

Dec 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 22, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bharat Timber & Construction Co         FB Fac                ICRA A3     120     Reaffirmed
Bharat Timber & Construction Co         Non-FB Fac            ICRA A3     639.1   Reaffirmed
Camphor And Allied Products Ltd         ST - Fund Based/      ICRA  A2    350     Reaffirmed
                                        Non-fund based
Classic Solvents Pvt Ltd                NFBL                  ICRA A4+    275     Reaffirmed
Featherlite Products Pvt. Ltd           NFBL                  ICRA A3     22.5    Withdrawn
Jamna Auto Industries Ltd               Proposed CP (CP)      ICRA A1+    600     Final
                                        Programme
Jamna Auto Industries Ltd               Proposed CP Programme ICRA A1+    700     Provisional
Kepra Industries                        ST FBL -FDBP          ICRA A4     45      Suspended
Kredence Multi Trading Ltd              Non-FBL               ICRA A4     2400    Upgraded
                                                                                   from ICRA D
Noble Natural Resources India           ST FBL                ICRA A1+    2050    Reassigned
Pvt Ltd                                                                            from ICRA A1
Octiva Ceramic                          Non Fund Based - BG   ICRA A4     9       Suspended
Octiva Ceramic                          Non Fund Based - LOC  ICRA A4     10.9    Suspended
Sasken Communication                    FB Fac                ICRA A1+    500     Assigned
Technologies Ltd
Sasken Communication                    Non-FB Fac            ICRA A1+    400     Assigned
Technologies Ltd
Shree Umiya Cotspin Pvt Ltd             Non-FBL - LOC*        ICRA A4     -       Assigned
*: Sub-limit of term loan
Shree Umiya Cotspin Pvt Ltd             Non-FBL - BG          ICRA A4     150     Assigned
Sri Lakshmi Narasimha Spinning          Non-FBL               ICRA A4     50      Revised from
Mills (India) Pvt Ltd                                                              ICRA D
Subros Ltd                              CP *                  ICRA  A1+   1200    Removed from
                                                                                   Rating Watch
                                                                                   with
developing  implications, 'Stable' Outlook assigned on long term rating
*CP is within the secured sanctioned fund based limits
The Travancore Cochin                   ST: Fund based        ICRA A4     10      Reaffirmed
Chemicals Ltd
The Travancore Cochin                   ST: Non fund based    ICRA A4     90      Reaffirmed
Chemicals Ltd
Tippers & Trailers India Pvt            Bk Fac                ICRA A4+    45      Suspended
Ltd
Trident Infrastructure                  Non-FB Fac            ICRA A4     50      Reaffirmed
Wheels India Ltd                        ST: Non FB Fac        ICRA A1+    1500    Upgraded
Wheels India Ltd                        CP programme          ICRA A1+    1000    Upgraded
enhanced from 50 CR



MEDIUM TERM RATINGS:
-------------------
Wheels India Ltd                        Medium Term: Fixed    MA+          1825    Reaffirmed
                                        Deposit


LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+     3000    Reaffirmed
Ltd                                                           (SO)
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+     2500    Reaffirmed
Ltd                                                           (SO)
Aasan Corporate Solutions Pvt           NCDs                  ICRA A+     2500    Reaffirmed
Ltd                                                           (SO)
Aasan Corporate Solutions Pvt           NCDS                  Provisional  6000    Assigned
Ltd                                                           ICRA A+
Alidhra Machines Pvt Ltd                LT FBL -CC            ICRA BB-    50      Suspended
Anamudi Real Estates Llp                LT Loans              ICRA A+     2250    Assigned
Angel Pipes And Tubes Pvt Ltd           Bk Fac                ICRA B-     170     Suspended
Ashutosh Foods                          FBL                   ICRA B+     290     Suspended
Bhabani Print & Publications            Line of Credit        ICRA D      105.4   Suspended
Bharat Timber & Construction Co         TL                    ICRA BBB-   4.3     Reaffirmed
Camphor And Allied Products Ltd         LT - TL               ICRA BBB+   140     Reaffirmed
Camphor And Allied Products Ltd         LT / ST - Fund Based  ICRA BBB+   1010    Reaffirmed
                                        / Non-fund based      / A2
Camphor And Allied Products Ltd         LT / ST Unallocated   ICRA BBB+   57      Assigned
                                        Limits                / A2
Classic Solvents Pvt Ltd                FBL                   ICRA BB+    150     Reaffirmed
                                                              (Stable)
Columbia Asia Hospitals Pvt Ltd         Fund Based - OverdraftICRA BBB    350     Reaffirmed
Columbia Asia Hospitals Pvt Ltd         TL                    ICRA BBB    6141.2  Reaffirmed
Delite Refrigeration Co                 Bk Fac                ICRA BB- /  75      Suspended
                                                              A4
Eshaan Exports                          FBL                   ICRA  B     110     Suspended
Featherlite Products Pvt. Ltd           FBL                   ICRA BBB-   27.5    Withdrawn
Jamna Auto Industries Ltd               TL                    ICRA AA-    500     Outstanding
Jamna Auto Industries Ltd               Working Capital Fac   ICRA AA-    3015    Outstanding
                                                              /A1+
Jamna Auto Industries Ltd               Unallocated           ICRA AA-    787.5   Outstanding
                                                              /A1+
Kepra Industries                        LT FBL -TL            ICRA BB-    11.9    Suspended
                                                              (Stable)
Kepra Industries                        LT FBL -Packing       ICRA BB-            Suspended
                                        Credit*               (Stable)
* Sub-limit of FDBP
Kepra Industries                        Unallocated Limit     ICRA BB-    10.1    Suspended
                                                              (Stable)
Kotahwalas Exports Pvt Ltd              Bk Fac                ICRA B- /   72.5    Suspended
                                                              A4
M/S Marbello                            FBL                   ICRA B      100     Suspended
Mittal Electronics                      Bk Fac                ICRA BBB /  162     Suspended
                                                              A2
Nagraj Alloys Pvt Ltd                   Bk Fac                ICRA BB- /  200     Suspended
                                                              A4
National Oxygen Ltd                     TL Fac                ICRA D      124.4   Suspended
National Oxygen Ltd                     FB Fac                ICRA D      15      Suspended
National Oxygen Ltd                     Non-FB Fac            ICRA D      22.5    Suspended
Noble Natural Resources India           LT/ ST FBL            ICRA AA- /  750     Reassigned
Pvt Ltd                                                       A1+                  from ICRA A
                                                                                   / A1
Oasis Agro Infra Ltd                    FBL                   ICRA D      174.8   Suspended
Octiva Ceramic                          Fund Based - TL       ICRA BB-    19.1    Suspended
                                                              (Stable)
Octiva Ceramic                          Fund Based - CC       ICRA BB-    72.5    Suspended
                                                              (Stable)
Oriental Aromatics Ltd                  LT - TL               ICRA BBB+   50      Reaffirmed
revised from Rs. 15.00 crore
Oriental Aromatics Ltd                  LT / ST - Fund        ICRA BBB+   320     Reaffirmed
                                        Based/Non-Fund Based  / A2
revised from Rs. 26.00 crore
Oriental Aromatics Ltd                  LT / ST - Unallocated ICRA BBB+   40      Assigned
                                        Limits                / A2
Shiv Cotgin Pvt Ltd                     FBL - CC              ICRA D      340     Suspended
Shiv Cotgin Pvt Ltd                     FBL - TL              ICRA D      6.1     Suspended
Shiv Cotgin Pvt Ltd                     Fund Based- FBP*      ICRA D              Suspended
*Within Cash Credit
Shree Shyam Cotton Industries           FBL - CC              ICRA D      70      Suspended
Shree Umiya Cotspin Pvt Ltd             FBL - CC              ICRA BB-    700     Assigned
Shree Umiya Cotspin Pvt Ltd             FBL - TL              ICRA BB-    258     Assigned
Sita Polyweave Pvt Ltd                  Bk Fac                ICRA B+ /A4 61.9    Suspended
Small Industries Development            NCD Programme         ICRA AAA    45000   Withdrawn
Bank Of India
Sri Lakshmi Narasimha Spinning          CC                    ICRA B-     160     Revised from
Mills (India) Pvt Ltd                                                              ICRA D
Sri Lakshmi Narasimha Spinning          TL                    ICRA B-     29.6    Revised from
Mills (India) Pvt Ltd                                                              ICRA D
Sri Lakshmi Narasimha Spinning          Unallocated Limits    ICRA B-     0.9     Revised from
Mills (India) Pvt Ltd                                                              ICRA D
Subros Ltd                              TL                    ICRA A+     3044    Assigned
Subros Ltd                              CC                    ICRA A+     450     Assigned
Subros Ltd                              NFBL                  ICRA A+     100     Assigned
Subros Ltd                              Fund Based and NFBL   ICRA A+/A1+ 2844    Removed from
                                                                                   Rating Watch
                                                                                   with
developing implications, 'Stable' Outlook assigned on long term rating
Subros Ltd                              Unallocated           ICRA A+/A1+ 44      Removed from
                                                                                   Rating Watch
                                                                                   with
developing implications, 'Stable' Outlook assigned on long term rating
The Travancore Cochin                   LT: FB Fac            ICRA B      200     Reaffirmed
Chemicals Ltd
Tippers & Trailers India Pvt            Bk Fac                ICRA BB     147.5   Suspended
Ltd
Trident Infrastructure                  FB Fac                ICRA BB-    101.8   Reaffirmed
Wave Industries Pvt Ltd                 Fund based and NFBL   ICRA B      2832.3  Suspended
Wheels India Ltd                        LT: TL                ICRA A+     1314.8  Reaffirmed
Wheels India Ltd                        LT: FB Fac            ICRA A+     225     Reaffirmed
Wheels India Ltd                        LT: Unallocated Fac   ICRA A+     40      Reaffirmed
Wheels India Ltd                        LT / ST: Unallocated  ICRA A+ /   272.7   Upgraded
                                                              A1+
--------------------------------------------------------------------------------------------
$: 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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