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ICRA ratings for Indian debt instruments-Mar 29
March 29, 2017 / 10:50 AM / 8 months ago

ICRA ratings for Indian debt instruments-Mar 29

    Mar 29 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of March 28, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aerostructures Manufacturing            ST FBL                ICRA A3+     550     Reaffirmed
India Pvt Ltd
(enhanced from 53.00CRS)
Aerostructures Manufacturing            ST Non-FBL            ICRA A3+     10      Reaffirmed
India Pvt Ltd
(revised from 3.00CRS)
Alumilite Architecturals Pvt            Non-FBL – BG          ICRA A4      35      Reaffirmed
Ltd
Ayushman Merchants Pvt Ltd              BG Limits             ICRA A4      10      Reaffirmed
Mothi Spinner Pvt Ltd                   ST: FBL               ICRA A2      5       Reaffirmed
Mothi Spinner Pvt Ltd                   ST: NFBL              ICRA A2      28.3    Reaffirmed
Nucon Pneumatics Pvt Ltd                Non Fund based        ICRA A4      59.7    Reaffirmed
Rasi Tex (In) Pvt Ltd                   ST: Fund based        ICRA A3      -       Downgraded
                                        sub-limits                                 from ICRA A3+
Shri Ramalinga Mills Ltd                ST: NFBL              ICRA A4+     15.5    Reaffirmed
Structural Specialities &               Non-FBL – BG          ICRA A4+     50      Reaffirmed
Projects (India) Pvt Ltd
(enhanced from Rs. 3.85 crore)
Sudha Agro Oil And Chemical             Non Fund based        ICRA A4+     3.34    Revised from
Industries Ltd                                                                     ICRA A3
Turbo Energy Pvt Ltd                    ST fund based facilityICRA A1      70      Reaffirmed
Turbo Energy Pvt Ltd                    ST non-FB Fac         ICRA A1      20      Reaffirmed
Turbo Energy Pvt Ltd                    ST non-FB Fac (sub    ICRA A1      -       Reaffirmed
                                        limit)
Visa Suncoke Ltd                        Non-FBL – LOC         ICRA D       200     Downgraded
                                                                                   from ICRA A4+
Windlas Biotech Pvt Ltd                 ST Non-FBL            ICRA A2+     20      Reaffirmed

LONG TERM RATINGS:
-------------------
Aerostructures Manufacturing            TL                    ICRA BBB     39.4    Reaffirmed
India Pvt Ltd
(revised from 4.5CRS)
Aerostructures Manufacturing            LT FBL                ICRA BBB     50      Reaffirmed
India Pvt Ltd
Alumilite Architecturals Pvt            FB Limits – CC        ICRA B       35      Reaffirmed
Ltd
Ayushman Merchants Pvt Ltd              CC Limits             ICRA B+      190     Reaffirmed
(revised from 14.00crs)
Deccan Industries                       LT – FB Fac           ICRA BB-     94      Reaffirmed
Deccan Industries                       LT - TL               ICRA BB-     0.5     Reaffirmed
(revised from 0.49crs)
Deccan Industries                       Long – term -         ICRA BB-     4.9     Reaffirmed
                                        Unallocated
(enhanced from 0.05crs)
Devang Paper Mills Pvt Ltd              CC                    ICRA BB-     30      Reaffirmed
Devang Paper Mills Pvt Ltd              Unallocated Limits    ICRA BB-     65      Reaffirmed
Everest Building Solutions Ltd          FBL (SO)- NFBL (SO)   ICRA A(SO)   100     Revised from
                                                              / ICRA A1            ICRA A+(SO)
                                                              (SO)                 /ICRA A1 (SO)
Isgec Hitachi Zosen Ltd                 FBL                   ICRA AA      1400    Reaffirmed
                                                              (SO)
(enhanced from Rs 100.0 crore)
Isgec Hitachi Zosen Ltd                 NFBL                  ICRA AA (SO) 2800    Reaffirmed
(enhanced from Rs 175.0 crore)
Isgec Hitachi Zosen Ltd                 Fund based / NFBL     ICRA AA (SO) 400     Reaffirmed
(enhanced from Rs 25.0 crore)
Isgec Hitachi Zosen Ltd                 NFBL                  ICRA BBB+    250     Assigned
Isgec Hitachi Zosen Ltd                 Unallocated limits    ICRA BBB+    650     Assigned
Keltech Energies Ltd                    LT-CC                 ICRA BBB+    150     Reaffirmed
(enhanced from 12.00crs)
Keltech Energies Ltd                    LT- Non-FBL           ICRA BBB+    300     Reaffirmed
Mansa Devi Rice Mills                   LT FB limits          ICRA B+      310     Assigned
Mothi Spinner Pvt Ltd                   Long/ ST: Unallocated -            -       -
Mothi Spinner Pvt Ltd                   LT: TL Fac            ICRA BBB+    97.19   Reaffirmed
Mothi Spinner Pvt Ltd                   LT: FB Fac            ICRA BBB+    46      Reaffirmed
Nucon Pneumatics Pvt Ltd                CC                    ICRA C       72.3    Downgraded
                                                                                   from ICRA B
Nucon Pneumatics Pvt Ltd                TL                    ICRA C       80.3    Downgraded
                                                                                   from ICRA B
Nucon Pneumatics Pvt Ltd                Unallocated           ICRA C       47.7    Downgraded
                                                                                   from ICRA B
Rasi Tex (In) Pvt Ltd                   LT: FBL               ICRA BBB-    40      Downgraded
                                                                                   from ICRA BB
Sai Radha Pharma (India) Pvt            FBL                   ICRA B+      150     Assigned
Ltd
(enhanced from Rs. 8.25 crore)
Shivam Cottex                           FB CC                 ICRA B+      60      Reaffirmed
Shivam Cottex                           FB TL                 ICRA B+      15      Reaffirmed
Shri Ramalinga Mills Ltd                LT: TL Fac            ICRA BB      41.87   Reaffirmed
Shri Ramalinga Mills Ltd                LT: FB Fac            ICRA BB      112     Reaffirmed
Shri Ramalinga Mills Ltd                LT: Proposed Fac      ICRA BB      43.75   Reaffirmed
Structural Specialities &               FB Limits – CC        ICRA BB      30      Reaffirmed
Projects (India) Pvt Ltd
(enhanced from Rs. 1.50 crore)
Structural Specialities &               FB Limits – TL        ICRA BB      4.3     Reaffirmed
Projects (India) Pvt Ltd
(revised from 0.67crs)
Sudha Agro Oil And Chemical             CC                    ICRA BB+     20      Revised from
Industries Ltd                                                                     ICRA BBB-
Sudha Agro Oil And Chemical             TL                    ICRA BB+     10.69   Revised from
Industries Ltd                                                                     ICRA BBB-
Sudha Agro Oil And Chemical             Unallocated           ICRA BB+     54.97   Revised from
Industries Ltd                                                                     ICRA BBB-
Team Krian                              FB Fac*               ICRA BB+     125     Reaffirmed
*Instrument details are provided in Annexure-1
Visa Suncoke Ltd                        FBL – CC              ICRA D       50      Downgraded
                                                                                   from ICRA BB+
Windlas Biotech Pvt Ltd                 TL                    ICRA A-      330.4   Reaffirmed
Windlas Biotech Pvt Ltd                 CC                    ICRA A-      270     Reaffirmed
Windlas Biotech Pvt Ltd                 LT/ST FBL             ICRA A- /    233     Reaffirmed
                                                              ICRA A2+
Windlas Biotech Pvt Ltd                 Un-allocated Limits   ICRA A-      234.6   Reaffirmed
                                                              /ICRA A2+
--------------------------------------------------------------------------------------------
$: 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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