ICRA ratings for Indian debt instruments-Oct 18

Last Updated: Tue, Oct 18, 2016 16:40 hrs

Oct 18 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of October 17, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Adcock Ingram Ltd ST FBL A1+ 400 Reaffirmed Adcock Ingram Ltd ST Non-FBL A1+ 150 Reaffirmed Garg Rice Mills FBL- LT A4 130 Suspended GE Triveni Ltd Non-FBL A2 1075 Reaffirmed Gowra Petrochem Pvt Ltd ST Non-FBL A2 94 Upgraded from A3+ Gowra Petrochem Pvt Ltd ST Unallocated Limits A2 9.8 Upgraded from A3+ (Revised from 10.30 Cr) Medreich Ltd ST FBL A1+ 2500 Reaffirmed Mg Rama Energy (P) Ltd Solar projects 'SP 2D - Assigned Mg Rama Energy (P) Ltd Solar projects 'SP 3D - Assigned Power Finance Corporation Ltd ST borrowing A1+ 250000 Assigned programme 2016-17 * (enhanced from Rs. 23,000 crore) *Short term borrowing programme is interchangeable with long term borrowing programme, subject to total short term and long term borrowings in FY17 not exceeding Rs. 70,000 crore Tablets (India) Ltd ST FB Fac - sub-limit A2+ - Revised from A3+ Tablets (India) Ltd ST non-FB Fac A2+ 80 Revised from A3+ Tablets (India) Ltd ST non-FB Fac - A2+ - Revised from sub-limit A3+ Unicon Engineers ST non fund based A4 55 Reaffirmed facility (Revised from 11 Cr) LONG TERM RATINGS: ------------------- ABW Infrastructure Ltd Bk lines D 2100 Suspended Adcock Ingram Ltd LT FBL# A+ Reaffirmed # Sub-limit of short-term fund based limits Adcock Ingram Ltd LT Non-FBL## A+ Reaffirmed ## Inter-changeable with short-term non-fund based limits Anil Special Steel Industries FBL- CC D 265 Suspended Ltd Anil Special Steel Industries FBL- TL D 155 Suspended Ltd Anil Special Steel Industries NFBL- D 324.1 Suspended Ltd Bilfinger Neo Structo Pvt Ltd Bk Fac A+ 2650 Suspended (SO) / A1+(SO) Dhandumariamman Steels LT - fund based (CC) B 55 Assigned Dhandumariamman Steels Unallocated B 5 Assigned Garg Rice Mills FBL- LT B 10 Suspended GE Triveni Ltd FBL BBB+ 60 Reaffirmed Gowra Petrochem Pvt Ltd LT FBL BBB 98.2 Reaffirmed (Revised from 7 Cr) Gowra Petrochem Pvt Ltd LT Non-FBL BBB 11 Reaffirmed Gowra Petrochem Pvt Ltd LT / ST Fund BBB / 245 Reaffirmed / Based/Non-FBL A2 Upgraded from A3+ Gulf Orient Shipping CC B+ 50 Revised from BB- Gulf Orient Shipping Unallocated Limit B+ / 50 Revised from A4 BB- / Reaffimred Hinduja Foundries Ltd TL Fac BBB 3300 (SO) $ Horizon Dream Homes Pvt Ltd TL D 98 Withdrawn Inexo Cast Metal Solutions Pvt LT - fund based (CC) BB 50 Assigned Ltd Jawahar Shetkari Sahakari LT, FBL - CC BB+ 5250 Assigned / Sakhar Karkhana Ltd Outstanding (Enhanced from Rs. 450.00 crore) Jawahar Shetkari Sahakari LT, FBL - TL BB+ 938.6 Outstanding Sakhar Karkhana Ltd Malik Cars Pvt Ltd Inventory Funding BB+ 150 Reaffirmed Limits (revised from 10 Cr) Malik Cars Pvt Ltd Unallocated Limits BB+ 15 Reaffirmed (revised from 6.5 Cr) Micro Logistics (India) Pvt Ltd CC B+ 70 Revised from BB- Micro Logistics (India) Pvt Ltd Unallocated Limit B+ / 30 Revised from A4 BB- / Reaffimred Nsn Reddy Rice Industry Fund Based - CC BB 340 Assigned / Outstanding (enhanced from Rs. 10.00 crore) Power Finance Corporation Ltd LT borrowing AAA 450000 Assigned programme 2016-17 * (enhanced from Rs. 19,000 crore) *Short term borrowing programme is interchangeable with long term borrowing programme, subject to total short term and long term borrowings in FY17 not exceeding Rs. 70,000 crore Tablets (India) Ltd TL Fac BBB+ 122.2 Revised from BBB (revised from Rs.15.58 crore) Tablets (India) Ltd LT FB Fac BBB+ 325 Revised from BBB Tablets (India) Ltd Proposed LT Fac BBB+ 75.8 Revised from BBB (revised from Rs.4.22 crore) Unicon Engineers LT fund based facility B+ 72 Upgraded from B (Revised from 8 Cr) Unicon Engineers LT/ST - Unallocated B+/ 63 Assigned A4 VRL Logistics Ltd LT scale - TL BBB+ 1596.4 Upgraded from BBB (reduced from 221.75 Cr) VRL Logistics Ltd LT scale - Fund Based BBB+ 989.5 Upgraded from BBB (increased from 109.57 Cr) -------------------------------------------------------------------------------------------- $: 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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