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ICRA ratings for Indian debt instruments-Oct 26
October 26, 2017 / 10:27 AM / 2 months ago

ICRA ratings for Indian debt instruments-Oct 26

    Oct 26 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 25, 2017.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aesthetic Stampings &                   Bill of Exchange      ICRA A4      60      Withdrawn
Laminations Ltd                         under LC 
Milestones Engineering Pvt Ltd          NFBL                  ICRA A4      52.5    Reaffirmed
Newage Laminators Pvt Ltd               Non-Fund Based        ICRA A4      12      -
(Issuer not cooperating)
P. Mangatram Jewellers Pvt Ltd          ST fund based         ICRA A4+     -       Reaffirmed
(revised from 5.00 CR)
P. Mangatram Jewellers Pvt Ltd          ST non-fund based     ICRA A4+     -       Reaffirmed
(revised from 15.00 CR)
Sagar Foods                             Foreign Documentary   ICRA A4      60      -
                                        Bill Purchase
(Issuer not cooperating)
Sagar Foods                             Packing Credit        ICRA A4      80      -
(Issuer not cooperating)
Svarn Telecom Ltd                       ST NFB                ICRA A4      35      -
(Issuer not cooperating)
Svarn Tex Prints Pvt Ltd                ST Non Fund Based     ICRA A4      70      -
(Issuer not cooperating)
The Indian Wood Products Co.            Non-FBL – LOC         ICRA A3      125     -
Ltd
(ISSUER NOT COOPERATING); Outlook revised from ‘Positive’ to ‘Stable’ and rating moved to the
‘(Issuer not cooperating)’ category
Thermodyne Technologies Pvt             ST - Non fund based   ICRA A4      90      Withdrawn
Ltd
Track Innovations (India) Pvt           BG                    ICRA A4      67.3    Reaffirmed
Ltd
Zibon Ceramic Pvt Ltd                   Non-fund Based – BG   ICRA A4      7.5     Reaffirmed
(reduced from Rs. 1.00)

LONG TERM RATINGS:
-------------------
Aesthetic Stampings &                   CC                    ICRA B+      5       Withdrawn
Laminations Ltd
Atc Logistics Pvt Ltd                   Bk Fac                ICRA BB-     277.5   -
(Issuer not cooperating)
Gemini Exports                          LT – FB ( PC/PSC/FBP) ICRA BB-     90      Upgraded
                                                                                   from ICRA B+
(enhanced from Rs. 6.00 crore)
Gemini Exports                          LT – Unallocated      ICRA BB-     10      Upgraded
                                                                                   from ICRA B+
(Reduced from Rs. 4.00 crore)
Gimpex Pvt Ltd                          Bk Loan Ratings       ICRA BB+     4450    -
(Issuer not cooperating)
Gmr Ose Hungund Hospet                  TL                    ICRA D       10779.7 Reaffirmed
Highways Pvt. Ltd.
Hindusthan Engineering &                CC                    ICRA BBB+    150     -
Industries Ltd
Reason for delay in carrying out periodic review
- Issuer delayed in giving information

Hindusthan Engineering &                BG                    ICRA BBB+    250     -
Industries Ltd
Reason for delay in carrying out periodic review
- Issuer delayed in giving information

K.D. Iron And Steel Company             Bk Fac                ICRA BBB     410     -
(Issuer not cooperating)
M R Steel Corporation                   FB – CC               ICRA BB-     60      Reaffirmed
M R Steel Corporation                   Unallocated           ICRA BB- /   20      Reaffirmed
                                                              ICRA A4
Metawood Display System                 LT FBL- CC            ICRA D       200     -
(Issuer not cooperating)
Milestones Engineering Pvt Ltd          FBL                   ICRA B+      12      Reaffirmed
Miracalus Pharma Pvt Ltd                CC                    ICRA B+      55      Withdrawn
Newage Laminators Pvt Ltd               FB                    ICRA B+      53.4    -
(Issuer not cooperating)
Newage Laminators Pvt Ltd               Unallocated           ICRA B+ /    34.6    -
                                                              ICRA A4
(Issuer not cooperating)
Oshiya Industries Pvtltd                FB - CC               ICRA D       100     -
(Issuer not cooperating)
Oshiya Industries Pvtltd                Non-fund Based - LOC  ICRA D       220     -
(Issuer not cooperating)
P. Mangatram Jewellers Pvt Ltd          LT FB                 ICRA BB+     665     Reaffirmed
(revised from 46.50 CR)
P. Mangatram Jewellers Pvt Ltd          TL                    ICRA BB+     0       Reaffirmed
(revised from 46.50 CR)
P. Mangatram Jewellers Pvt Ltd          Unallocated           ICRA BB+     105     Reaffirmed
(revised from 0.70 CR)
Palakkad Municipality                   Issuer Rating         IrB+         -       Assigned
Panipat Elevated Corridor Ltd           NCD                   ICRA BBB-    1900    Reaffirmed
(reduced from 235.0 CR)
Patil Rail Infrastructure Pvt           NCD                   ICRA BB      1350    -
Ltd
(Issuer not cooperating)
Ptg Technopak Pvt Ltd                   CC                    ICRA B       30      Assigned
Ptg Technopak Pvt Ltd                   TL                    ICRA B       50      Assigned
Ptg Technopak Pvt Ltd                   LOC                   ICRA B       28.5    Assigned
Rameshwar Cottex                        BLR                   ICRA B       95      -
(Issuer not cooperating)
Sagar Foods                             Unallocated Limits    ICRA B /     13.8    -
                                                              ICRA A4
(Issuer not cooperating)
Saraswatipur Tea & Industries           FB-limit- cashcredit  ICRA B       95.5    -
Ltd                                     facility
(Issuer not cooperating)
Saraswatipur Tea & Industries           FB-limit- termloan    ICRA B       7.9     -
Ltd
(Issuer not cooperating)
Saraswatipur Tea & Industries           Unallocated           ICRA B       0.6     -
Ltd
(Issuer not cooperating)
Shree Gauri Rice Mill Pvt Ltd           TL                    ICRA B       25.7    -
(Issuer not cooperating)
Shree Gauri Rice Mill Pvt Ltd           CC                    ICRA B       110     -
(Issuer not cooperating)
Shree Gauri Rice Mill Pvt Ltd           Unallocated Limits    ICRA B /     12.3    -
                                                              ICRA A4
(Issuer not cooperating)
Shree Oshiya Strips Impex Pvt           FB - CC               ICRA D       60      -
Ltd
(Issuer not cooperating)
Shree Oshiya Strips Impex Pvt           Non-fund Based - LOC  ICRA D       210     -
Ltd
(Issuer not cooperating)
Silvertones Speciality Textile          LT- Fund based        ICRA B+      20      Withdrawn
Pvt Ltd
(Issuer not cooperating)
Silvertones Speciality Textile          LT/ST – Non Fund BasedICRA B+ /    120     Withdrawn
Pvt Ltd                                                       ICRA A4
(Issuer not cooperating)
Soma Nutrition Labs Pvt Ltd             TL                    ICRA B+      80      -
(Issuer not cooperating)
Soma Nutrition Labs Pvt Ltd             CC                    ICRA B+      20      -
(Issuer not cooperating)
Sundaram Finance Ltd                    PTC's                 ICRA         3740.7  confirmed as
                                                              AAA(SO)              final
Sundaram Finance Ltd                    PTC's                 ICRA         6946.8  confirmed as
                                                              AAA(SO)              final
Surya Oil & Agro Industries             BLR                   ICRA B+      107.9   -
(Issuer not cooperating)
Svarn Telecom Ltd                       LT CC                 ICRA BB-     50      -
(Issuer not cooperating)
Svarn Telecom Ltd                       LT TL                 ICRA BB-     9.4     -
(Issuer not cooperating)
Svarn Telecom Ltd                       LT - Unallocated      ICRA BB-     155.6   -
(Issuer not cooperating)
Svarn Tex Prints Pvt Ltd                LTCC                  ICRA B+      82.5    -
(Issuer not cooperating)
Svarn Tex Prints Pvt Ltd                LTTL                  ICRA B+      20      -
(Issuer not cooperating)
Svarn Tex Prints Pvt Ltd                LT - Unallocated      ICRA B+      77.5    -
(Issuer not cooperating)
Swastik Tradelink Pvt Ltd               CC                    ICRA BB-     80      -
(Issuer not cooperating)
The Indian Wood Products Co.            FB Limit – CC         ICRA BBB-    140     -
Ltd
(ISSUER NOT COOPERATING); Outlook revised from ‘Positive’ to ‘Stable’ and rating moved to the
‘(Issuer not cooperating)’ category
The Indian Wood Products Co.            FB Limit – TL         ICRA BBB-    34      -
Ltd
(ISSUER NOT COOPERATING); Outlook revised from ‘Positive’ to ‘Stable’ and rating moved to the
‘(Issuer not cooperating)’ category
The Indian Wood Products Co.            LT/Shortterm          ICRA BBB- /  8.5     -
Ltd                                     Unallocated           A3
(ISSUER NOT COOPERATING); Outlook revised from ‘Positive’ to ‘Stable’ and rating moved to the
‘(Issuer not cooperating)’ category
Thermodyne Technologies Pvt             LT FB                 ICRA BB      25      Withdrawn
Ltd
Track Innovations (India) Pvt           CC                    ICRA B+      150     Upgraded
Ltd                                                                                from ICRA B
Track Innovations (India) Pvt           TL                    ICRA B+      2.7     Upgraded
Ltd                                                                                from ICRA B
Zibon Ceramic Pvt Ltd                   FB – CC               ICRA B+      30      Upgraded
                                                                                   from ICRA B
(increased from Rs. 2.20)
Zibon Ceramic Pvt Ltd                   FB – TL               ICRA B+      47.4    Upgraded
                                                                                   from ICRA B
(reduced from Rs. 5.50)
Zibon Ceramic Pvt Ltd                   Unallocated Limit     ICRA B+      2.1     Upgraded
                                                                                   from ICRA B
                                                                                   / ICRA A4
(increased from Nil)
--------------------------------------------------------------------------------------------
$: 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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