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ICRA ratings for Indian debt instruments-Jan 6
January 6, 2017 / 10:24 AM / a year ago

ICRA ratings for Indian debt instruments-Jan 6

Jan 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 5, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Aarti Drugs Ltd                         ST - Fund Based       ICRA A2+     3560    Reaffirmed
Aarti Drugs Ltd                         ST - Non Fund Based   ICRA A2+     2710    Reaffirmed
Asian Solvochem Pvt. Ltd.               FB Limits             ICRA A4              Downgraded
                                                                                   from ICRA A4+
Dharmlok Industries                     FB - ST               ICRA A4      50      Reaffirmed
Lenz Ceramic Pvt Ltd                    Non-FBL               ICRA A4      25      Reaffirmed

Aarti Drugs Ltd                         LT - TL               ICRA A-      2302.2  Reaffirmed
Aarti Drugs Ltd                         CC                    ICRA A-      300     Reaffirmed
Aarti Drugs Ltd                         LT/ST Unallocated     ICRA A- /    107.8   Reaffirmed
                                        Limits                ICRA A2+,
Asian Solvochem Pvt. Ltd.               Non-FBL               ICRA BB      800     Downgraded
                                                                                   from ICRA BB+
Crown Promoters And Developers          TL                    ICRA D       63      Reaffirmed
Crown Promoters And Developers          NFBL                  ICRA D       47      Reaffirmed
Dharmlok Industries                     FB - LT               ICRA B+      47      Upgraded
                                                                                   from ICRA B
Grant Thornton India Llp                Working Capital LimitsICRA A       195     Revised from
                                                                                   ICRA A+
Grant Thornton India Llp                BG                    ICRA A       40      Assigned
Jhv Steels Ltd                          CC                    ICRA B       125     Reaffirmed
Laxmi Technical Textile Pvt Ltd         LT, FB based Fac      ICRA A (SO)  95      Assigned
Laxmi Technical Textile Pvt Ltd         LT, FB based Fac      ICRA A (SO)  108.5   Assigned
Laxmi Technical Textile Pvt Ltd         LT, non-FB Fac        ICRA A (SO)  10      Assigned
Laxmi Technical Textile Pvt Ltd         LT/ST,                ICRA A (SO)  86.2    Assigned
                                        Unallocated/Proposed  / ICRA A1
                                        Fac                   (SO)
Lenz Ceramic Pvt Ltd                    FB Limits             ICRA B       130     Reaffirmed
R. J. Agro Industries                   FB Limits             ICRA B       60      Reaffirmed
Sapphire Lifesciences Pvt. Ltd.         FBL                   ICRA BB      267.1   Reaffirmed
Sapphire Lifesciences Pvt. Ltd.         Un-allocated Amount   ICRA BB      17.5    Reaffirmed
Sbk Properties Pvt Ltd                  NCDs                  ICRA AA-(SO) 1250    Reaffirmed
V3S Infratech Ltd                       CC                    ICRA D       300     Reaffirmed
V3S Infratech Ltd                       TL                    ICRA D       25      Reaffirmed
V3S Infratech Ltd                       BG                    ICRA D       400     Reaffirmed
Walker Chandiok & Company Llp           Working Capital LimitsICRA A       100     Revised from
                                                                                   ICRA A+
$: 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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