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ICRA ratings for Indian debt instruments-Jan 12
January 12, 2017 / 11:07 AM / 10 months ago

ICRA ratings for Indian debt instruments-Jan 12

Jan 12 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 11, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adisankara Spinning Mills Pvt           ST: Non-FBL           ICRA A1     200     Reaffirmed
Ltd
Bosch Rexroth (India) Pvt Ltd           ST FB Limits^         ICRA A1+    200     Reaffirmed
^ Sublimit of and fully interchangeable with long term fund based facility. The 
total utilisation for short-term facilities not to exceed Rs. 20.00 crore
D&H Secheron Electrodes Pvt.            Non-FBL               ICRA A3     40      Reaffirmed
Ltd.
(reduced from 5.00 CR)
Grt Jewellers (India) Pvt Ltd           ST: FBL               ICRA A1+    500     Assigned
Grt Jewellers (India) Pvt Ltd           ST: NFBL              ICRA A1+    1020    Assigned
Grt Jewellers (India) Pvt Ltd           ST: Fund based / Non  ICRA A1+            Assigned
                                        fund based sub-limit
Grt Jewellers (India) Pvt Ltd           CP programme          ICRA A1+    500     Assigned
                                        (proposed)
Ifmr Capital Finance Pvt Ltd            CP                    ICRA A1+    4000    Assigned /
                                                                                   Outstanding
(enhanced from 300.00)
Jay Bharat Maruti Ltd                   CP Programme          ICRA A1+    500     ASsigned
Jay Bharat Maruti Ltd                   CP Programme          ICRA A1+    250     Outstanding
Kanchan Motors                          FBL                   ICRA A4     100     Reaffirmed
Karnataka Roadlines Pvt Ltd             Non- Fund Based BG    ICRA  A4+   5       Reaffirmed
Mahendra Roadlines Pvt Ltd              Non- Fund Based BG    ICRA A4+    5       Reaffirmed
Matrix Clothing Pvt Ltd                 ST FBL                ICRA A3+    835.3   Reaffirmed
Matrix Clothing Pvt Ltd                 ST NFBL               ICRA A3+    100     Reaffirmed
N G Projects Ltd                        BG                    ICRA A3     990     Reaffirmed
Rane Brake Lining Ltd                   ST FB Fac             ICRA A1+    100     Reaffirmed
Rane Brake Lining Ltd                   ST non FB Fac         ICRA A1+    295     Reaffirmed
Rane Brake Lining Ltd                   CP programme          ICRA A1+    300     Reaffirmed
Sfo Technologies Pvt Ltd                ST FB Fac             ICRA A2+    196.5   Reaffirmed
Sfo Technologies Pvt Ltd                ST non FB Fac         ICRA A2+    52.6    Reaffirmed
Shiva Global Agro Industries            ST - Non Fund Based   ICRA A4+    120     Reaffirmed
Ltd
Shree Nakoda Global Ltd                 Non-FBL               ICRA A4;    140     Reaffirmed
Shree Nakoda Ispat Ltd                  Non-FBL               ICRA A4     595.2   Reaffirmed
Sp Spinning Mills Pvt Ltd               ST: Non-FB Fac        ICRA A3+    82.5    Reaffirmed
Sri Lakshmi Venkateswara                BG                    ICRA A4     5       Reaffirmed
Modern Rice Industry
Suryansh Metal & Alloys                 Non FB Limits         ICRA A4     57      Reaffirmed
(enhanced from 5.00 CR)
Topline Lamination Pvt Ltd              NFBL                  ICRA A4     90      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Shiva Global Agro Industries            Medium Term- Fixed    MB+          20      Reaffirmed
Ltd                                     Deposits

LONG TERM RATINGS:
-------------------
Abhi S.K. Hospital Pvt Ltd              LT: FBL - TL          ICRA B+     63.2    Upgraded
                                                                                  from ICRA B
Abhi S.K. Hospital Pvt Ltd              LT: Unallocated       ICRA B+     49.3    Upgraded
                                                                                  from ICRA B
Adisankara Spinning Mills Pvt           LT: FB limits         ICRA A+     450     Reaffirmed
Ltd
Adisankara Spinning Mills Pvt           Long / ST: Fund based ICRA A+ /   250     Reaffirmed
Ltd                                     unallocated limit     ICRA A1 /
Atr Warehousing Pvt. Ltd.               TL                    ICRA D      257.5   Reaffirmed
Atr Warehousing Pvt. Ltd.               CC                    ICRA D      125     Reaffirmed
Atr Warehousing Pvt. Ltd.               Unallocated           ICRA D      387.5   Reaffirmed
Bosch Rexroth (India) Pvt Ltd           LT FB - Over Draft    ICRA AA     300     Upgraded
                                        Facility                                  from ICRA 
                                                                                  AA-
Bosch Rexroth (India) Pvt Ltd           LT Non-Fund Based -   ICRA AA     400     Upgraded
                                        BGs                                       from ICRA 
                                                                                  AA-
D&H Secheron Electrodes Pvt.            FBL                   ICRA BBB-   125     Reaffirmed
Ltd.
D&H Secheron Electrodes Pvt.            Unallocated Limits    ICRA BBB-   35      Reaffirmed
Ltd.
(enhanced from 2.50 CR)
Daaj Hotels And Resorts Pvt.            TL                    ICRA D      795     Reaffirmed
Ltd.
Dharmesh Textiles Ltd                   LT fund based-CC      ICRA BBB-   70      Upgraded
                                                                                  from ICRA 
                                                                                  BB+
Dharmesh Textiles Ltd                   LT fund based-TL      ICRA BBB-   130     Upgraded
                                                                                  from ICRA 
                                                                                  BB+
Disha Microfin Pvt Ltd - Disha          PTC Series A1         ICRA A-(SO) 571.6   Provisional
Microfin Pvt Ltd
                                                                  rating
Fruitful Buildcon Pvt Ltd               LT fund based-TL      ICRA BB+    650     Reaffirmed
G R Thanga Maligai                      LT: TL                ICRA A-     10.1    Reaffirmed
(revised from 3.55 CR)
Grt Jewellers (India) Pvt Ltd           LT: TL                ICRA A+     1559.3  Reaffirmed
Grt Jewellers (India) Pvt Ltd           Long / ST: FBL        CRA]A+ /     9860   Reaffirmed
                                                              ICRA A1+
Hindustan Flour Mills                   LT fund based facilityICRA BB     100     Reaffirmed
Ifmr Capital Finance Pvt Ltd            PS                    ICRA A      150     Withdrawn
Ifmr Capital Finance Pvt Ltd            NCDs                  ICRA A+     1000    Assigned
Ifmr Capital Finance Pvt Ltd            LT FBL                ICRA A+     12500   Assigned /
                                                                                   Outstanding
(enhanced from 750.00)
Ifmr Capital Finance Pvt Ltd            NCDs                  ICRA A+     7285    Outstanding
Ifmr Capital Finance Pvt Ltd            Subordinated debt     ICRA A+     75      Outstanding
Jay Bharat Maruti Ltd                   NCD Programme         ICRA AA-    1500    ASsigned
Jay Bharat Maruti Ltd                   Bk Loan Ratings       ICRA AA- /  3570    Outstanding
                                                              A1+
Karnataka Roadlines Pvt Ltd             Fund Based CC         ICRA BB+    500     Reaffirmed
Mahendra Roadlines Pvt Ltd              Fund Based CC         ICRA BB+    250     Reaffirmed
Matrix Clothing Pvt Ltd                 TL                    ICRA BBB    28.7    Reaffirmed
(revised from 3.73 CR)
Matrix Clothing Pvt Ltd                 Unallocated Limits    ICRA BBB    8.6     Reaffirmed
N G Projects Ltd                        CC                    ICRA BBB-   240     Reaffirmed
Rane Brake Lining Ltd                   LT FB Fac ##          ICRA A+     430     Reaffirmed
Rane Brake Lining Ltd                   LT Fac - proposed     ICRA A+     828.2   Reaffirmed
Rane Brake Lining Ltd                   TL Fac                ICRA A+     46      Withdrawn
Sayaji Hotels Ltd                       TL                    ICRA BBB-   575.9   Reaffirmed
Sayaji Hotels Ltd                       CC Fac                ICRA BBB-   67.5    Reaffirmed
Sayaji Hotels Ltd                       LT Scale - Non FB Fac ICRA BBB-   27      Reaffirmed
Sayaji Hotels Ltd                       Unallocated           ICRA BBB-   268.4   Reaffirmed
Sfo Technologies Pvt Ltd                TL Fac                ICRA BBB+   89      Reaffirmed
Sfo Technologies Pvt Ltd                Proposed LT Fac       ICRA BBB+   420     Reaffirmed
Shiva Global Agro Industries            LT - Fund Based/ CC   ICRA BB     320     Reaffirmed
Ltd
Shiva Global Agro Industries            LT - Fund Based TL    ICRA BB     50      Reaffirmed
Ltd
Shree Nakoda Global Ltd                 FB Limits (CC)        ICRA B      10      Assigned
Shree Nakoda Ispat Ltd                  TL                    ICRA B+     2185    Assigned
Shree Nakoda Ispat Ltd                  FB Limits (CC)        ICRA B+     481     Assigned
Sp Spinning Mills Pvt Ltd               LT: FBL               ICRA BBB    80      Reaffirmed
Sp Spinning Mills Pvt Ltd               LT: Unallocated       ICRA BBB    30      Reaffirmed
Sri Lakshmi Venkateswara                CC                    ICRA B+     92.5    Reaffirmed
Modern Rice Industry
Sri Lakshmi Venkateswara                LT/ST Unallocated     ICRA B+/A4  2.5     Reaffirmed
Modern Rice Industry                    Limits
Suryansh Metal & Alloys                 FB Limits             ICRA B      22      Reaffirmed
Suryansh Metal & Alloys                 Unallocated Limits    ICRA B /A4  21      Reaffirmed
(reduced from 2.80 CR)
Tamil Nadu Generation &                 Non Convertible Bonds ICRA A-(SO) 3185.3  Reaffirmed
Distribution Corporation Ltd            Program
(Rs 4000 crore bond issue)
Tamil Nadu Generation &                 Non Convertible Bonds ICRA A-(SO) 1000    Reaffirmed
Distribution Corporation Ltd            Program
Tamil Nadu Generation &                 Non Convertible Bonds ICRA A-(SO) 505     Reaffirmed
Distribution Corporation Ltd            Program
Tamil Nadu Generation &                 Non Convertible Bonds ICRA A-(SO) 6642    Reaffirmed
Distribution Corporation Ltd            Program
Topline Lamination Pvt Ltd              FBL                   ICRA B      57.5    Assigned
Topline Lamination Pvt Ltd              Unallocated Limits    ICRA B /A4  2.5     Assigned
--------------------------------------------------------------------------------------------
$: 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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