ICRA ratings for Indian debt instruments-Nov 23

Source : REUTERS
Last Updated: Wed, Nov 23, 2016 16:20 hrs

Nov 23 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of November 22, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Chennai Textiles ST: FB Fac A4 120 Reaffirmed Clean Max Enviro Energy NFBL (LOC) A3+ 220 Upgraded Solutions Pvt Ltd from A3 Emmennar Pharma Pvt Ltd ST non-FBL A3+ 53 Outstanding India Shoes Exports Pvt Ltd ST: FB Fac A3 455 Reaffirmed revised from 47.50 CR India Shoes Exports Pvt Ltd ST: Non FB Fac A3 81.5 Reaffirmed Kandukuri Industries Pvt Ltd Non fund based A4 90 Reaffirmed enhanced from Rs.5 crore Lakshmanan Isola Pvt Ltd ST - Fund Based A4 5 Reaffirmed Lakshmanan Isola Pvt Ltd ST - Non-fund Based A4 7 Reaffirmed Malti Enterprises Non-fund based Bk A4+ 50 Suspended facility Megha Technical & Engineers LOC/BG A1 30 Assigned Pvt Ltd Miter And Miter Engineers Pvt ST, NFBL A4 10 Assigned Ltd Muthoot Finance Ltd ST fund based Bk A1+ 103180^ Assigned/ limits outstanding enhanced from Rs. 9,392 crore; ^ Term loans and long-term fund based bank limits include interchangeable limit of Rs. 35 crore. Also, long-term and short-term fund based bank limits include interchangeable limit of Rs. 6,935 crore. The total rated bank facilities stands at Rs. 12,060 crore Oshina Expo Pvt Ltd LOC A4 10 Reaffirmed Polyplastics Industries India ST - Non-fund based A3+ 80 Assigned Pvt Ltd Proline India Ltd ST-Non-Fund Based-LC A3 30 Reaffirmed S.R.S. Exports Pvt. Ltd. ST Non-fund based-LOC A4 300 Reaffirmed Saviton Living Concepts Non-FBL A4 22.5 Suspended Saviton Metplast Pvt Ltd Non-FBL A4 24.6 Suspended Shadiram & Sons ST Non-fund based - A4 950 Revised from LOC A4+ Star Cement Ltd ST loans A1 1500 Assigned Star Cement Ltd LOC/BG A1 250 Assigned Star Cement Meghalaya Ltd ST loans A1 200 Assigned Star Cement Meghalaya Ltd LOC/BG A1 100 Assigned Sunmark Ceramic Non Fund Based - BG A4 10 Suspended Tarini Motors Pvt Ltd Non-FBL - BG A4 25 Reaffirmed Umiya Wood Works Pvt Ltd Non-FBL - LOC A4 190 Reaffirmed United Breweries Ltd Fund based A1+ 6000# Outstanding (inter-changeable) Fac #The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based facilities may be utilized either as long-term or as short-term facilities. Total amount rated by ICRA is Rs.1,380.00 crore United Breweries Ltd Non-fund based A1+ 1500# Outstanding (inter-changeable) Fac #The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based facilities may be utilized either as long-term or as short-term facilities. Total amount rated by ICRA is Rs.1,380.00 crore United Breweries Ltd CP A1+ 5000 Outstanding LONG TERM RATINGS: ------------------- Amit Buildwell Pvt Ltd LT FB Fac B+ 60 Reaffirmed Amit Buildwell Pvt Ltd LT/ST B+/ A4 40 Reaffirmed (interchangeable) non-FB Fac Clean Max Enviro Energy FBL (CC) BBB 30 Upgraded Solutions Pvt Ltd from BBB- Clean Max Enviro Energy Proposed Limits BBB 500 Upgraded Solutions Pvt Ltd /A3+ from BBB- /A3 enhanced from Rs 25.00 crore Emmennar Pharma Pvt Ltd LT FBL BBB 400 Outstanding Emmennar Pharma Pvt Ltd Unallocated BBB/ 239.5 Outstanding A3+ India Shoes Exports Pvt Ltd LT: FB Fac BBB- 44.1 Reaffirmed revised from 1.83 CR Jagdambay Cotspin Ltd LT FB Fac B 200 Reaffirmed Jayaswal Neco Industries Ltd TL Fac D 30867 Assigned Jayaswal Neco Industries Ltd LT FB limits D 6530.4 Assigned Jayaswal Neco Industries Ltd ST Non-FBL D 4352.6 Assigned Kandukuri Industries Pvt Ltd CC B+ 118 Reaffirmed enhanced from Rs.8.80 crore Kandukuri Industries Pvt Ltd TL B+ 65 Reaffirmed Kandukuri Industries Pvt Ltd Unallocated B+ 27 Reaffirmed revised from Rs.4.70 crore Karun Rice & General Mills CC B 65 Suspension Revoked Karun Rice & General Mills Unallocated B 5 Suspension Revoked Ktc Threads Llp Limits B /A4 145.5 Suspended Lakshmanan Isola Pvt Ltd LT scale - CC B- 77.5 Reaffirmed Maithan Ispat Ltd PS C 3576.6 Assigned Malti Enterprises Untied limit BB/ 30 Suspended A4+ Malti Enterprises CC facility BB+ 10 Suspended Megha Technical & Engineers CC A+ 150 Assigned Pvt Ltd Meghalaya Power Ltd CC 280 Assigned Meghalaya Power Ltd TL 1053.9 Assigned Meghalaya Power Ltd LOC/BG 70 Assigned Miter And Miter Engineers Pvt LT, FBL - TL BB 25 Assigned Ltd Miter And Miter Engineers Pvt LT, FBL - CC BB 65 Assigned Ltd Muthoot Finance Ltd NCD programme AA 13000 Assigned Muthoot Finance Ltd Subordinated debt AA 1000 Assigned programme Muthoot Finance Ltd TL AA 500^ Outstanding Muthoot Finance Ltd LT fund based Bk AA 86620^ Assigned/ limits outstanding enhanced from Rs. 8,286 crore; ^ Term loans and long-term fund based bank limits include interchangeable limit of Rs. 35 crore. Also, long-term and short-term fund based bank limits include interchangeable limit of Rs. 6,935 crore. The total rated bank facilities stands at Rs. 12,060 crore Oshina Expo Pvt Ltd CC B 50 Reaffirmed Oshina Expo Pvt Ltd TL B 40 Reaffirmed Padmashri Dr. Vitthalrao Vikhe LT, FBL - CC BB 2500 Assigned Patil Sahakari Sakhar Karkhana Ltd Padmashri Dr. Vitthalrao Vikhe LT, FBL - TL BB 1100 Assigned Patil Sahakari Sakhar Karkhana Ltd Patwari Steels Pvt Ltd FBL - Corporate Loan D 8.1 Downgraded reduced from Rs. 1.35 crore Patwari Steels Pvt Ltd FBL - CC D 110 Downgraded revised from Rs. 9.00 crore Patwari Steels Pvt Ltd FBL - Standby Line of D 7.2 Downgraded Credit reduced from Rs. 1.35 crore Patwari Steels Pvt Ltd Untied limits D 11.7 Assigned Polyplastics Industries India LT - TL BBB+ 200 Assigned Pvt Ltd Polyplastics Industries India LT - CC BBB+ 420 Assigned Pvt Ltd Polyplastics Industries India LT - Unallocated BBB+ 300 Assigned Pvt Ltd Proline India Ltd LT-Fund Based-CC BBB- 170 Reaffirmed Rachana Television Pvt Ltd CC limits BB+ 115 Assigned Radhe Krishna Cotton Industries Fund Based - TL B+ 11 Suspended Radhe Krishna Cotton Industries Fund Based - CC B+ 49 Suspended Ramky Pharma City (India) Ltd Bk Fac C+ 150 Withdrawn S.R.S. Exports Pvt. Ltd. LT Fund based-CC* B+ Reaffirmed *Sublimit of Letter of Credit Samarth Devcon Pvt Ltd FBL B 150 Suspended Saviton Living Concepts FBL B+ 107.5 Suspended Saviton Metplast Pvt Ltd FBL B+ 77.4 Suspended Shanku'S Biosciences Pvt Ltd Limits B+ /A4 81.1 Suspended Shanku'S Foundation Limits BB 88.3 Suspended Shree Geeta Textile Mills Pvt LT FB CC limit B 135 Revised from Ltd B+ Shree Geeta Textile Mills Pvt LT fund- based TL B 434.6 Revised from Ltd B+ Shree Geeta Textile Mills Pvt LT/ST non-fund based B /A4 17.5 Revised from Ltd BG B+ /A4 Star Cement Ltd CC A+ 1990 Assigned Star Cement Ltd TL A+ 1394.5 Assigned Star Cement Ltd Corporate Loans A+ 800 Assigned Star Cement Ltd Unallocated A+ 400 Assigned Star Cement Meghalaya Ltd CC A+ 1100 Assigned Star Cement Meghalaya Ltd TL A+ 1941.2 Assigned Sukritha Buildmann Pvt Ltd LT - Fund Based- TL B+ 300 Assigned/ outstanding enhanced from 20 CR Sunmark Ceramic Fund Based - TL B 55.8 Suspended Sunmark Ceramic Fund Based - CC B 30 Suspended Suvarna Lakshmi Jewellers LT FB limits (TL) B+ 5.8 Reaffirmed Suvarna Lakshmi Jewellers LT FB limits (CC) B+ 180 Reaffirmed Suvarna Lakshmi Jewellers LT Unallocated B+ 86.2 Reaffirmed revised from 9.20 CR Tarini Motors Pvt Ltd FBL - TL B+ 17.4 Reaffirmed Tarini Motors Pvt Ltd FBL - CC B+ 32.5 Reaffirmed Umiya Wood Works Pvt Ltd FBL - CC BB- 20 Reaffirmed United Breweries Ltd TL AA- 1300 Assigned United Breweries Ltd Fund based AA- 6000# Outstanding (inter-changeable) Fac #The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based facilities may be utilized either as long-term or as short-term facilities. Total a United Breweries Ltd Non-fund based AA- 1500# Outstanding (inter-changeable) Fac #The Rs.600.00 crore fund based facilities and the Rs.150.00 crore non-fund based facilities may be utilized either as long-term or as short-term facilities. Total a Western Refrigeration Pvt Ltd LT/ST Fund based Bk A- 850 Upgraded Fac /A2+ from BBB+ /A2 revised from Rs 44.00 crore Western Refrigeration Pvt Ltd LT/ST Fund based Bk A- 640 Upgraded Fac /A2+ from BBB+ /A2 revised from Rs 10 crore Western Refrigeration Pvt Ltd LT/ST Unallocated A- 10 Upgraded limits /A2+ from BBB+ /A2 revised from Rs 61 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 rru.data@thomsonreuters.com)



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