January 11, 2017 / 9:38 AM / 10 months ago

ICRA ratings for Indian debt instruments-Jan 11

Jan 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 10, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
------                                  ----------            ------      -----    ---------
Cosmos Engitech Pvt Ltd                 LOC                   ICRA A4+     40      Reaffirmed
Cosmos Engitech Pvt Ltd                 Credit Exposure Limit ICRA A4+     4.9     Reaffirmed
Cosmos Engitech Pvt Ltd                 Unallocated Fac       ICRA A4+     4.4     Reaffirmed
Creative Tannery Ltd                    ST: Non FB Fac        ICRA A4      40      Downgraded
                                                                                   from ICRA A4+
(revised from 5.00 CR)
Evergreen Veneers Pvt Ltd               NFBL                  ICRA A4      160.5   Reaffirmed
Jai Bharat Steel Industries             NFL                   ICRA A4      183.7   Reaffirmed
(reduced from Rs. 25.57 CR)
Mg Well Solutions Project               ST Non-FBL            ICRA A4      40      upgraded
International Pvt. Ltd.                                                            from ICRA D
Svs Mookambika Constructions            BG                    ICRA A4      110     Reaffirmed
Pvt Ltd
(revised from Rs. 12.00 crore)
Varsha Cables Pvt Ltd                   NFBL                  ICRA A4      40      Reaffirmed
Vilas Transcore Ltd                     NFBL                  ICRA A3+     408.2   Reaffirmed
Zetatek Industries Ltd                  LC                    ICRA A4      20      Reaffirmed

Archimedis Healthcare Pvt Ltd           TL                    ICRA BB-     15      Reaffirmed
Archimedis Healthcare Pvt Ltd           CC                    ICRA BB-     55      Reaffirmed
B.V.L Exports                           Packing Credit        ICRA B       750     Reaffirmed
B.V.L Exports                           CC                    ICRA B       500     Reaffirmed
Cosmos Engitech Pvt Ltd                 TL                    ICRA BB+     57.7    Reaffirmed
Cosmos Engitech Pvt Ltd                 CC                    ICRA BB+     69.5    Reaffirmed
Creative Tannery Ltd                    LT: FB Fac - CC       ICRA BB      100     Reaffirmed
Creative Tannery Ltd                    LT/ST: Unallocated    ICRA BB /    10      Reaffirmed /
                                                              ICRA A4+             Downgraded
                                                                                   from ICRA A4
Evergreen Veneers Pvt Ltd               FBL                   ICRA B       120     Reaffirmed
Haranai Sahakari Soot Girni Ltd         FBL - TL              ICRA BB-     25      Downgraded
                                                                                   from ICRA BB
Haranai Sahakari Soot Girni Ltd         FBL - CC              ICRA BB-     35.5    Downgraded
                                                                                   from ICRA BB
Jai Bharat Steel Industries             FBL                   ICRA BB-     5       Reaffirmed
(reduced from 3.50 CR)
Jai Bharat Steel Industries             Unallocated Amount    ICRA BB-     102     Assigned
Mg Well Solutions Project               LT FBL                ICRA C       33.5    upgraded
International Pvt. Ltd.                                                            from ICRA D
Mg Well Solutions Project               Unallocated Limits    ICRA C /     17.2    upgraded
International Pvt. Ltd.                                       ICRA A4              from ICRA D
Reliable Agencies                       CC                    ICRA B+      52.1    Reaffirmed
Reliable Agencies                       TL                    ICRA B+      3       Reaffirmed
Reliable Agencies                       Unallocated Limits    ICRA B+ /    44.9    Reaffirmed
                                                              ICRA A4
Svs Mookambika Constructions            CC                    ICRA BB-     138     Reaffirmed
Pvt Ltd
Svs Mookambika Constructions            Unallocated Limits    ICRA BB- /   152     Reaffirmed
Pvt Ltd                                                       ICRA A4
(revised from Rs. 17.00 crore)
Teesta Rangit Pvt Ltd                   FBL (TL)              ICRA D       400     Reaffirmed
Varsha Cables Pvt Ltd                   FBL                   ICRA B+      85      Reaffirmed
Vilas Transcore Ltd                     FBL                   ICRA BBB     63.8    Reaffirmed
Vilas Transcore Ltd                     Unallocated Limits    ICRA BBB     40.7    Reaffirmed
Wave Distilleries & Breweries           CC                    ICRA BB+     990     Reaffirmed
Wave Distilleries & Breweries           TL                    ICRA BB+     1510    Reaffirmed
Zetatek Industries Ltd                  CC                    ICRA B+      55      Reaffirmed
Zetatek Industries Ltd                  BG                    ICRA B+      100     Reaffirmed
(revised from Rs. 14.00 crore)
Zetatek Industries Ltd                  Unallocated Limits    ICRA B+      55      Reaffirmed
(revised from Rs. 1.50 crore)
$: 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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