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ICRA ratings for Indian debt instruments-Dec 28
December 28, 2016 / 12:33 PM / a year ago

ICRA ratings for Indian debt instruments-Dec 28

Dec 28 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of December 27, 2016.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------

SHORT TERM RATINGS:
-------------------
Agarwal Petrochem Pvt Ltd               non-fund based        A4+    5       Suspended
                                        facility
Ab&Co Global Pvt Ltd                    ST FBL - Buyers       D              Reaffirmed
                                        Credit
Alpine Panels Pvt Ltd                   NFBL                  A4     102.5   Assigned
Avi Global Plast Pvt Ltd                non fund based        A4+    242.9   Suspended
                                        facility
Diagold Designs Ltd                     ST Scale - FBL        A4     280*    Reaffirmed
*The fund based and non-fund based limits are interchangeable to the extent of Rs. 3.00 crore
Diagold Designs Ltd                     ST Scale - Non-FBL    A4     50*     Reaffirmed
*The fund based and non-fund based limits are interchangeable to the extent of Rs. 3.00 crore
International Cargo Terminals           ST, Non-fund based Bk A3+    650     Revised from
& Infrastructure Pvt Ltd                limits                                     A2
International Cargo Terminals           ST, Fund Based        A3+    140     Revised from
& Rail Infrastructure Pvt Ltd                                 (SO)                 A2 (SO)
Indian Treat Ltd                        ST FB Fac             D      250     Suspended
International Cargo Terminals           ST, Non-Fund Based    A3+    160     Revised from
& Rail Infrastructure Pvt Ltd                                 (SO)                 A2 (SO)
Intertex Pvt Ltd                        Non-FBL               A4+    1150    Assigned
Kailash Trading Corporation             ST - FB Fac           A4     1.3     Assigned
Kailash Trading Corporation             ST - Non-fund based   A4     61      Assigned
                                        faculties
Kailash Trading Corporation             ST - FB Fac           A4     1.3     Assigned
Kailash Trading Corporation             ST - Non-fund based   A4     61      Assigned
                                        faculties
Kailash Trading Corporation             LT/ST - unallocated   A4     45      Assigned
                                        limits
Kaira Can Co. Ltd                       ST, FB Fac            A3+    20      Notice of
                                                                                   withdrawal
Kaira Can Co. Ltd                       ST, non FB Fac        A3+    145     Notice of
                                                                                   withdrawal
Kali Aerated Water Works Pvt            ST, Interchangeable   A3     30      upgraded
Ltd                                     Limits*                                    from
                                                                                   A4+
* Sub-limit of long-term facilities
Kalis Sparkling Water (Pvt) Ltd         ST, Non-fund based    A3     3       Reaffirmed
Safar Polyfibre Pvt Ltd                 ST - BG               B      10      Assigned
Kalol Steel & Alloys Pvt Ltd            Non-fund based -      A4     20      Reaffirmed
                                        ILC/FLC/BG
Mandovi Drydocks                        non-fund based        A4     60      Suspended
                                        facility
Multichem Specialities Pvt Ltd          ST, non FB Fac        A4     190     Reaffirmed
Multichem Specialities Pvt Ltd          ST, unallocated       A4     10      Reaffirmed
Nandan Denim Ltd                        EPC/FBD limits        A2+    152     Reaffirmed
Nandan Denim Ltd                        LOC/BG                A2+    500     Reaffirmed
P.M. Electro-Auto Pvt. Ltd.             ST, non FB Fac        A4     140     reaffirmed
P.M. Electro-Auto Pvt. Ltd.             ST, non FB Fac        A4     140     Reaffirmed
(enhanced from Rs. 8.00 crore)
Phoenix Lamps Ltd                       ST - Non Fund Based   A1     187     Reaffirmed
reduced from Rs. 25.00 crore
Piramal Finance Pvt. Ltd                CP / ST Debt Programme A1+    90000   assigned
(enhanced from 7,000cr)
Rajoo Engineers Ltd                     Export Packaging      A2             Reaffirmed
                                        Credit*
* Sub limit of Cash Credit Limits
Safar Polyfibre Pvt Ltd                 ST - CEL for forward  A4     0.9     Assigned
                                        Contract
Safar Polyfibre Pvt Ltd                 ST - LC (Capital      A4             Assigned
                                        Gooptionally
                                        convertible debentures)**
*Sublimit within CC **Sublimit within TL
Satish Chand Rajesh Kumar Pvt           Non-FBL               A4     80      Reaffirmed
Ltd
Sri Swetharka Constructions             BG                    A4     30      Reaffirmed
Pvt Ltd
Sri Vigneswara Raw & Boiled             FBL                   A4     2.5     Suspended
Rice Mill
Sterling & Wilson Pvt Ltd               NCD                   A1     1000    Reaffirmed
Sterling & Wilson Pvt Ltd               CP                    A1+    1000    Withdrawn
Sterling Generators Pvt Ltd             FBL#                  A3     800     Reaffirmed
enhanced from 50.00 CR; #completely interchangeable with buyers credit, working 
capital demand loan and overdraft facilities
Sterling Generators Pvt Ltd             Non-FBL #             A3     1225    Reaffirmed
reduced from 190.00 CR; #completely interchangeable with buyers credit,
 working capital demand loan and overdraft facilities
Superhouse Ltd                          Non-FB Fac            A2     685     Revised from
                                                                                   A2+
The Mithra Agencies (Hyderabad)         ST FBL                A4+    225     Reaffirmed


LONG TERM RATINGS:
-------------------
Ab&Co Global Pvt Ltd                    LT FBL - CC           D              Reaffirmed
Ab&Co Global Pvt Ltd                    Non- FBL - LOC        D      500     Reaffirmed
Ab&Co Global Pvt Ltd                    Non- FBL - BG         D              Reaffirmed
Agarwal Petrochem Pvt Ltd               CC facility           BB+    200     Suspended
Allahabad Bypass Pathways Pvt           TL                    D      785     Re-assigned
Ltd                                                                                from
                                                                                   BBB(SO)
Developing implications removed
Allahabad Bypass Pathways Pvt           Non-FB Fac            D      486     Re-assigned
Ltd                                                                                from
                                                                                   BBB(SO)
Developing implications removed
Alpine Panels Pvt Ltd                   FBL                   B      7.5     Assigned
Alpine Panels Pvt Ltd                   Unallocated Limits    B /    32.5    Assigned
                                                              A4
Avi Global Plast Pvt Ltd                FB Fac                BB+    221.2   Suspended
Bharat Agriculture Export               TL facility           B-     100     Suspended
Import Co. Pvt Ltd
Bhartiya Samruddhi Finance Ltd          PTC Series A1         BB-    82.7    Assigned
                                                              (SO)
Bhartiya Samruddhi Finance Ltd          Originator's Residual              9.2     Unrated
                                        Share
Bhaskar Fertilizers Pvt Ltd             Bk Fac                B /    200     Suspended
                                                              A4
Capital Electech Pvt. Ltd.              Bk Fac                BB- /  310     Suspended
                                                              A4
D.D. Agro Industries Ltd                Bk Fac                BB- /  209.5   Suspended
                                                              A4
Dainik Savera News Media                Bk Fac                D      106     Suspended
Network
En Vogue Wood Working (P) Ltd           Bk Fac                B+ /   180     Suspended
                                                              A4
Envee Drugs Pvt Ltd                     Bk limits             BB- /  140     Suspended
                                                              A4
Firepro Systems Pvt Ltd                 Bk Fac                B+/ A4 2900    Suspended
Ganga Spintex Ltd                       Bk lines              BB-   283.4   Suspended
Gee Emm Spinfab Ltd                     Bk Fac                BB     627     Suspended
Golden Tobacco Ltd.                     FBL (CC)              D      443     Reaffirmed
Golden Tobacco Ltd.                     FBL (TL)              D      65      Reaffirmed
Golden Tobacco Ltd.                     Non FBL               D      30      Reaffirmed
Harman Cottex & Seeds Pvt Ltd           Bk Fac                BB-    125     Suspended
Hero Solar Energy Pvt. Ltd.             NCD                   A      1750    Assigned
Hero Wind Energy Pvt. Ltd               NCD                   A      150     Assigned
Hero Wind Energy Pvt. Ltd               NCD                   A      3000    Reaffirmed
Himghar Udyog Pvt Ltd                   Seasonal CC           B-     35      Suspended
Himghar Udyog Pvt Ltd                   Working capital TL    B-     2.7     Suspended
Himghar Udyog Pvt Ltd                   Working capital loan  B-     7.5     Suspended
Himghar Udyog Pvt Ltd                   TL Fac                B-     15      Suspended
Hindva Builders                         Working capital       BB-    60      Reaffirmed
                                        demand loan
Hindva Builders                         Dropline overdraft    BB-    300     Reaffirmed
                                        facility
Iitl-Nimbus The Hyde Park,              Bk lines              BB    500     Suspended
Noida
Imperial Frozen Food Products           Bk Fac                B      117.4   Suspended
Imperial Frozen Food Products           Bk Fac                B      117.4   Suspended
Inter India Roadways Pvt Ltd            Bk lines              BB /   220     Suspended
                                                              A4+
International Cargo Terminals           TL                    BBB    680.8   Revised from
& Infrastructure Pvt Ltd                                                           BBB+
International Cargo Terminals           TL                    BBB    1420    revised from
& Rail Infrastructure Pvt Ltd                                 (SO)                 BBB+
                                                                                   (SO)
Intertex Pvt Ltd                        FBL                   BB     100     Assigned
Jalan Con Cast Ltd                      FBL                   B+     110     Suspended
Kailash Trading Corporation             LT - FB Fac - CC      B      40      Assigned
Kailash Trading Corporation             LT - FB Fac - TL      B      2.7     Assigned
Kailash Trading Corporation             LT - FB Fac - CC      B      40      Assigned
Kailash Trading Corporation             LT - FB Fac - TL      B      2.7     Assigned
Kailash Trading Corporation             LT/ST - unallocated   B/A4   45      Assigned
                                        limits
Kaira Can Co. Ltd                       LT, FB Fac            BBB    125     Notice of
                                                                                   withdrawal
Kaira Can Co. Ltd                       Medium Term, Public   MA-                  Notice of
                                        Deposits                                   withdrawal
Kali Aerated Water Works Pvt            LT, TL                BBB-   100     upgraded
Ltd                                                                                from
                                                                                   BB+
Kali Aerated Water Works Pvt            LT, Fund Based        BBB-   70      Assigned
Ltd
Kalis Sparkling Water (Pvt) Ltd         LT, TL                BBB-   141.2   Reaffirmed
Kalis Sparkling Water (Pvt) Ltd         LT, Fund Based        BBB-   20      Reaffirmed
Kalis Sparkling Water (Pvt) Ltd         LT, Proposed Fac      BBB-   90.8    Reaffirmed
Kalol Steel & Alloys Pvt Ltd            FB - CC               B+     40      Reaffirmed
Kalol Steel & Alloys Pvt Ltd            FB - TL               B+     5.6     Reaffirmed
Katyayini Paper Mills Pvt. Ltd.         Bk Fac                BB /A4 500     Suspended
Mandovi Drydocks                        fund based facility   BB     107.5   Suspended
Multichem Specialities Pvt Ltd          LT, FB Fac            B+             Reaffirmed
Nandan Denim Ltd                        TL                    A-     4980.3  Reaffirmed
reduced from Rs. 541.85 crore
Nandan Denim Ltd                        CC Limits             A-     1698    Reaffirmed
Nine Globe Industries Pvt Ltd           LT FB Fac             D      137.5   Suspended
P.M. Electro-Auto Pvt. Ltd.             LT, Unallocated       -            -       -
P.M. Electro-Auto Pvt. Ltd.             LT, TL                BB     92.1    upgraded
                                                                                   from
                                                                                   BB-
P.M. Electro-Auto Pvt. Ltd.             LT, FB Fac            BB     215     upgraded
                                                                                   from
                                                                                   BB-
P.M. Electro-Auto Pvt. Ltd.             LT, Unallocated       -            -
(reduced from 0.48 crore)
P.M. Electro-Auto Pvt. Ltd.             LT, TL                BB     92.1    Upgraded
                                                                                   from
                                                                                   BB-
(reduced from Rs. 11.52 crore)
P.M. Electro-Auto Pvt. Ltd.             LT, FB Fac            BB     215     Upgraded
                                                                                   from
                                                                                   BB-
(enhanced from Rs. 20.00 crore)
Paragon Industries Ltd                  Bk Fac                BB+    494.1   Suspended
                                                              /A4+
Phoenix Lamps Ltd                       LT - Fund Based       A      1063*   Reaffirmed
enhanced from Rs. 100.00 crore; * including Rs. 16.3 crore unallocated limits
Piramal Finance Pvt. Ltd                Subordinate Bond      AA     5000    Assigned
                                        (Tier II) Programme
Piramal Finance Pvt. Ltd                LT Bk Fac             AA     35250   assigned
(enhanced from 2,250cr)
Piramal Finance Pvt. Ltd                NCD Programme         AA     75000   Outstanding
Polestar Maritime                       TL facility           A-     654     Suspended
Rajoo Engineers Ltd                     CC*                   BBB+   195     Reaffirmed
Raksan Transformers Pvt Ltd             Bk Fac                BB-   135     Suspended
                                                              / A4
Rashi Steel & Power Ltd                 TL                    D      820     Downgraded
                                                                                   from
                                                                                   BB-
Safar Polyfibre Pvt Ltd                 LT/ST - Unallocated   -                    Assigned
Safar Polyfibre Pvt Ltd                 LT - CC Limits        B      100     Assigned
Safar Polyfibre Pvt Ltd                 LT - TL               B      2525    Assigned
Safar Polyfibre Pvt Ltd                 LT -EPC/FBD*          B              Assigned
Satish Chand Rajesh Kumar Pvt           FB Limits             B+     10      Reaffirmed
Ltd
Shapoorji Pallonji Roads Pvt            NFBL                  AA+    3360    Withdrawn
Ltd                                                           (SO)
Shivam Syncotex Pvt Ltd                 Bk Fac                B+     210     Suspended
Shree Hazarilal Cold Storage            CC                    B      41.5    Suspended
Pvt Ltd
Shree Hazarilal Cold Storage            working capital loan  B      6       Suspended
Pvt Ltd
Shree Hazarilal Cold Storage            working capital TL    B      5       Suspended
Pvt Ltd
Skyscape Developers Pvt Ltd             NCDs                  AA     4000    Assigned
                                                              (SO)
Sri Lakshmi Vigneswara Rice             CC                    BB-    52.5    Suspended
Industries
Sri Lakshmi Vigneswara Rice             TL                    BB-    1.9     Suspended
Industries
Sri Lakshmi Vigneswara Rice             NFBL                  BB- /  2.6     Suspended
Industries                                                    A4
Sri Swetharka Constructions             CC                    B+     60      Reaffirmed
Pvt Ltd
Sri Vigneswara Raw & Boiled             CC                    B+     60      Suspended
Rice Mill
Sri Vigneswara Raw & Boiled             unallocated limits    B+     17.5    Suspended
Rice Mill
St. John'S Orthodox Church              LT fund based         B+     100     Reaffirmed
Society (Regd.)
State Bank Of Travancore                Additional Tier-I     AA+    6000    Assigned
                                        Bonds Programme -     (hyb)
                                        Basel III
Sterling & Wilson Energy                Non-FBL (BG/LC)*      BBB-   70      Reaffirmed
Systems Pvt Ltd                                               / A3
*Rated on both the scales and would attract rating as per the tenure of usage.
Sterling & Wilson Powergen Pvt          FBL (CC)              BBB-   50      Reaffirmed
Ltd
Sterling & Wilson Powergen Pvt          TL                    BBB-   250     Reaffirmed
Ltd
Sterling & Wilson Powergen Pvt          Non-FBL (BG)*         BBB-   1025    Reaffirmed
Ltd                                                           / A3
Rated on both the scales and would attract rating as per the tenure of usage
Sterling & Wilson Pvt Ltd               FBL                   A+     2600    Placed on
                                                                                   notice of
                                                                                   withdrawal
Sterling & Wilson Pvt Ltd               FBL                   A+     400     Reaffirmed
Sterling & Wilson Pvt Ltd               Non -FBL              A+     25290   Placed on
                                                              /A1+                 notice of
                                                                                   withdrawal
Sterling & Wilson Pvt Ltd               Non -FBL              A+     1710    Reaffirmed
                                                              /A1+
Sterling Generators Pvt Ltd             FBL (CC)              BBB-   800     Reaffirmed
reduced from 100.00 CR
Sterling Generators Pvt Ltd             Non-FBL (BG)*         BBB-   250     Reaffirmed
                                                              /A3
*Rated on both the scales and would attract rating as per the tenure of usage
Superhouse Ltd                          FB Fac                BBB+   2083.3  Revised from
                                                                                   A-
The Mithra Agencies (Hyderabad)         TL                    BB     65.3    Reaffirmed
The Mithra Agencies (Hyderabad)         CC                    BB     100     Reaffirmed
The Mithra Agencies (Hyderabad)         Unallocated Limits    BB /   12.2    Reaffirmed
                                                              A4+
Trident Techlabs Pvt. Ltd.              Bk Fac                B+/ A4 175     Suspended
Ujjivan Financial Services Ltd          NCD (NCDs)            A+     2750    Assigned
Ujjivan Financial Services Ltd          NCD (NCDs)            A+     2750    Assigned
Undavalli Constructions                 TL                    B+     61.5    Suspended
Undavalli Constructions                 unallocated limits    B+     28.5    Suspended
Unitech Power Transmission Ltd          Fund based and non    BB-    3500    Suspended
                                        fund based working
                                        capital Fac
Vaishali Export House                   Bk Fac                B+ /A4 76.9    Suspended
Visura Trading & Investment             FBL                   B+     90      Reaffirmed
(India) Ltd
Visura Trading & Investment             Unallocated Limits    B+ /A4 30      Reaffirmed
(India) Ltd
Vulcan Industrial Engineering           Limits                BB /   689.3   Suspended
Co. Ltd                                                       A4
--------------------------------------------------------------------------------------------
$: 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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