January 5, 2017 / 10:35 AM / in 10 months

ICRA ratings for Indian debt instruments-Jan 5

Jan 5 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 4, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Itd-Itd Cem Joint Venture               NFBL                  A2+    1500    Upgraded
                                                              (SO)                 from
                                                                                   A1 (SO)
Laborate Pharmaceuticals India          ST Fund Based         A2+    330     Reaffirmed
Ltd
(enhanced from Rs. 28 crore)
Laborate Pharmaceuticals India          ST Non-Fund Based     A2+    50      Reaffirmed
Ltd
(reduced from Rs. 15 crore)
Metro Ortem Ltd                         ST Scale-Packing      A2     2.3     Reaffirmed
                                        Credit
Metro Ortem Ltd                         ST Scale-NFBL         A2     93.8    Reaffirmed
R. L. Steels & Energy Ltd               ST, FBL               D      419.9   Reaffirmed
R. L. Steels & Energy Ltd               ST, Non fund based    D      560     Reaffirmed
Metro Tyres Ltd                         ST Scale - Non FB Fac A2+    600     Reaffirmed
Millennium Vitrified Tiles Pvt          BG                    A4     51.8    Reaffirmed
Ltd
Millennium Vitrified Tiles Pvt          Credit Exposure Limit A4     5.9     Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Appollo Distilleries Pvt Ltd            FBL                   D      750     Downgraded
                                                                                   from B+
Baba Rice Mill                          FBL - CC              BB     100     Reaffirmed
Empee Sugars And Chemicals Ltd          Non-FBL               D      1281.8  Reaffirmed
Empee Sugars And Chemicals Ltd          FBL                   D      5120.4  Reaffirmed
Empee Sugars And Chemicals Ltd          Unallocated Amount    D      7.8     Reaffirmed
Hindusthan Malleables &                 CC                    BB-    80      Downgraded
Forgings Ltd                                                                       from BB
Itd Cementation India Ltd               TL                    BBB+   1000    Upgraded
                                                                                   from A-
Itd Cementation India Ltd               FBL                   BBB+   8000    Upgraded
                                                                                   from A-
Itd Cementation India Ltd               NFBL                  BBB+   30000   Upgraded
                                                              / A2+          from
                                                                                   A-/
                                                                                   A1
Itd-Itd Cem Joint Venture               TL                    BBB+   1320    Upgraded
                                                              (SO)                 from
                                                                                   A-(SO)
Itd-Itd Cem Joint Venture               FBL                   BBB+   1850    Upgraded
                                                              (SO)                 from
                                                                                   A-(SO)
Jade Blue Lifestyle India Ltd           CC                    BBB+   580     Reaffirmed
Jade Blue Lifestyle India Ltd           TL                    BBB+   111.8   Reaffirmed
Jade Blue Lifestyle India Ltd           Stand-by LOC          BBB+   70      Reaffirmed
Jade Blue Lifestyle India Ltd           Un-allocated Limits   BBB+   31.4    Reaffirmed
Laborate Pharmaceuticals India          LT Fund Based         A-     420     Reaffirmed
Ltd
(enhanced from Rs. 32 crore)
Metro Ortem Ltd                         LT Scale-TL           BBB+   49.5    Reaffirmed
Metro Ortem Ltd                         LT-Scale-CC           BBB+   54      Reaffirmed
Metro Ortem Ltd                         LT Scale-Unallocated  BBB+   50.4    Reaffirmed
Metro Tyres Ltd                         LT Scale-TL           A-     150     Reaffirmed
Metro Tyres Ltd                         LT Scale-CC Fac       A-     1000    Reaffirmed
Millennium Vitrified Tiles Pvt          CC                    B+     120     Reaffirmed
Ltd
Millennium Vitrified Tiles Pvt          TL                    B+     183.8   Reaffirmed
Ltd
R. L. Steels & Energy Ltd               LT, FBL - TL          D      1170    Reaffirmed
R. L. Steels & Energy Ltd               LT, FBL - CC          D      850.1   Reaffirmed
Rajshree Sugars And Chemicals           FBL                   D      5791.3  Reaffirmed
Ltd
Rajshree Sugars And Chemicals           Unallocated Amount    D      706.9   Reaffirmed
Ltd
Shrimati Sulochna Devi                  FBL                   B+     154     Reaffirmed
Education Foundation
Sri Krishna Rice Mill                   FBL - CC              BB     100     Reaffirmed
Sri Krishna Rice Mill                   FBL - TL              BB     5.7     Reaffirmed
Trident Sugars Ltd                      FBL                   C      419.5   Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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