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Company News

ICRA ratings for Indian debt instruments-Jan 6

Jan 6 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of January 5, 2016.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Doll Ceramic Pvt Ltd                    BG                    A4     10      Reaffirmed
J.P. Engineers                          NFB                   A3     1100    Reaffirmed
                                                                                   rating watch
                                                                                   with
                                                                                   developing
                                                                                   implications
                                                                                   removed
J.P. Engineers                          NFB                   A3     1100    Reaffirmed
Khimji Visram & Sons                    ST fund based facility A4     1100    Withdrawn
(Commission Department)
Kotak Mahindra Investments Ltd          ST debt programme     A1+    11500   Withdrawn
Kumaragiri Electronics Ltd              ST: Non-FB Fac        A4     40      Reaffirmed
Lenz Ceramic Pvt Ltd                    Non Fund Based- BG    A4     25      Assigned
Mastek Ltd                              Non-FBL               A1+    100     Reaffirmed
Medhassu E-Solutions Pvt Ltd            BG                    A4     45      Reaffirmed
Panacea Medical Technologies            NFB                   A4+    30      Assigned
Pvt Ltd
Piramal Enterprises Ltd                 CP/STD                A1+    5000    Assigned
Prabhu Agarwalla Construction           NFBL (BG)             A4     400     Downgraded
Pvt Ltd                                                                            from A3
Regent Granito (India) Ltd.             LOC                   A4     100     Assigned
Regent Granito (India) Ltd.             BG                    A4     50      Assigned
Regent Granito (India) Ltd.             Credit Exposure Limit A4     0.3     Assigned
Rohit Exhaust Systems Pvt Ltd           ST Fund Based-EPC     A3+    -       Withdrawn
Rohit Exhaust Systems Pvt Ltd           ST Non Fund Based-LC  A3+    5       Withdrawn
Rohit Exhaust Systems Pvt Ltd           ST Non Fund Based-LC  A3+    5       Withdrawn
Smw Metal Pvt Ltd                       NFB                   A3     55      Reaffirmed
                                                                                   rating watch
                                                                                   with 
                                                                                   developing
                                                                                   implications
                                                                                   removed
Stci Finance Ltd                        ST debt programme     A1+    15000   Reaffirmed
Windals Precision Pvt Ltd               ST Non-FBL            A3+    137.7   Assigned
(enhanced from Rs. 8.75 crore)
Yashveer Ceramics                       ST Non Fund Based-    A4     20      Reaffirmed
                                        Bk Guarantee

LONG TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                  LT FB Bk Fac          BB-    110     Upgraded
                                                                                   from B+
Action Ispat & Power Pvt Ltd            TL                    D      8365.4  Downgraded
                                                                                   from B+
Action Ispat & Power Pvt Ltd            FBL                   D      1265.4  Downgraded
                                                                                   from B+
Action Ispat & Power Pvt Ltd            NFBL                  D      150     Downgraded
                                                                                   from B+
Allahabad Bypass Pathways Pvt           TL                    BBB    785     Upgraded
Ltd                                                           (SO)                 from
                                                                                  
 BBB-(SO)
Allahabad Bypass Pathways Pvt           NFBF                  BBB    486     Upgraded
Ltd                                                           (SO)                 from
                                                                                  
 BBB-(SO)
Bbm Estates Pvt Ltd                     TL facility           A-(SO) 800     Assigned
Bombay Super Hybrid Seeds Pvt           CCL                   B+     49      Assigned
Ltd
Bombay Super Hybrid Seeds Pvt           CC Limits- Proposed   B+     6       Assigned
Ltd
Bombay Super Hybrid Seeds Pvt           TL- Proposed          B+     25      Assigned
Ltd
Bombay Super Hybrid Seeds Pvt           LT/STUnallocated      B+/    15      Assigned
Ltd                                                           A4
Dabur India Ltd                         NCD                   AAA    150     Reaffirmed
Divya Construction Company              CC                    B-     60      Reaffirmed
Divya Construction Company              BG                    B-/    140     Reaffirmed
                                                              A4
Doll Ceramic Pvt Ltd                    CC                    B-     30      Revised from
                                                                                   B
Doll Ceramic Pvt Ltd                    TL                    B-     42.3    Revised from
                                                                                   B
(reduced from Rs. 6.00 crore)
G.G. Tronics India Pvt Ltd              CC                    D      50      Reaffirmed
G.G. Tronics India Pvt Ltd              TL                    D      100     Reaffirmed
J.P. Engineers                          WC LIMITS             BBB-   150     Reaffirmed
                                                                                   rating watch
                                                                                   with 
                                                                                   developing
                                                                                   implications
                                                                                   removed
J.P. Engineers                          Working Capital Limits BBB-   150     Reaffirmed
Jhajharia Nirman Pvt Ltd                working capital       BB+    22.5    Suspended
                                        facility
Jhajharia Nirman Pvt Ltd                BG                    BB+    502.5   Assigned
Kotak Mahindra Investments Ltd          Kotak Mahindra        AAA    1000    Assigned
                                        Investments Limited
Kotak Mahindra Investments Ltd          LT debt programme     AAA    500     Withdrawn
Kumaragiri Electronics Ltd              LT: TL                B      66.4    Reaffirmed
Kumaragiri Electronics Ltd              LT: FB Fac            B      50      Reaffirmed
Lenz Ceramic Pvt Ltd                    Fund Based- TL        B      50      Assigned
Lenz Ceramic Pvt Ltd                    Fund Based- CC        B      80      Assigned
Maharashtra Transmission                TL                    BBB-   550     Assigned
Communication
Infrastructure
Ltd
Mastek Ltd                              FBL                   A+     40      Reaffirmed
Mastek Ltd                              Fund Based/ Non-FBL   A+     60      Reaffirmed
Medhassu E-Solutions Pvt Ltd            CC                    B      25      Reaffirmed
Medhassu E-Solutions Pvt Ltd            Unallocated Limits    B      30      Reaffirmed
Mhow Agroh Pathways Pvt Ltd             TL                    BBB    1387.3  Upgraded
                                                              (SO)                 from
                                                                                   BBB-
                                                                                   (SO)
Mhow Agroh Pathways Pvt Ltd             Unallocated           BBB    88      Upgraded
                                                              (SO)                 from
                                                                                   BBB- 
                                                                                   (SO)
Panacea Medical Technologies            FB-CC                 BB+    50      Assigned
Pvt Ltd
Panacea Medical Technologies            FB-TL                 BB+    35      Assigned
Pvt Ltd
Platino Classic Motors Pvt Ltd          LT FB Fac             B+     100     Assigned
Poddar Business Pvt Ltd                 working capital       BB     20      Suspended
                                        facility
Prabhu Agarwalla Construction           FBL (TL)              BB     30      Downgraded
Pvt Ltd                                                                            from
                                                                                   BBB-
(reduced from Rs. 3.80 crore)
Prabhu Agarwalla Construction           FBL (CC)              BB     200     Downgraded
Pvt Ltd                                                                            from
                                                                                   BBB-
Prabhu Agarwalla Construction           Fund Based/ NFBL      BB /   1.32    Downgraded
Pvt Ltd                                 (Untied Limit)        A4             from
                                                                                   BBB- /
                                                                                   A3
R S Spuntex Pvt Ltd                     LT FB Bk Fac          BB-    90      Upgraded
                                                                                   from B+
Raichur Laboratories Pvt. Ltd.          LT FBL                B+     150     Assigned
Raichur Laboratories Pvt. Ltd.          LT Unallocated Limits B+     50      Assigned
Rajendra Engineering Udyog Pvt          LT FB Bk Fac          B+     50      Assigned
Ltd
Rajendra Engineering Udyog Pvt          TL                    B+     15      Assigned
Ltd
Regency Yamuna Energy Ltd               FBF                   B      337.9   Revised from
                                                                                   C
Regent Granito (India) Ltd.             TL                    B+     53.3    Assigned
Regent Granito (India) Ltd.             CC                    B+     370     Assigned
Riddhi Siddhi Jewellers Pvt Ltd         CC                    B      65      Assigned
Riddhi Siddhi Jewellers Pvt Ltd         Unallocated           B      35      Assigned
Rohit Exhaust Systems Pvt Ltd           LT Fund based-CC      BBB    70      Withdrawn
Rohit Exhaust Systems Pvt Ltd           LT Fund based-TL      BBB    50      Withdrawn
Saharanpur Institute Of                 TL                    D      150     Revised from
Medical Sciences Pvt Ltd                                                           B
Satin Creditcare Network Ltd            Subordinated Debt     BBB+   250     Assigned
                                        Programme(NCD)
Shitaram Industries                     LT fund based - TL    B-     8.3     Revised from
                                                                                   B
(reduced from Rs 1.07 crore)
Shitaram Industries                     LT fund based - CC    B-     45      Revised from
                                                                                   B
Smw Metal Pvt Ltd                       WC LIMITS             BBB-   50      Reaffirmed
                                                                                   rating watch
                                                                                   with 
                                                                                   developing
                                                                                   implications
                                                                                   removed
Spark Insulators Pvt. Ltd               LT FBL                B+             Assigned
Spark Insulators Pvt. Ltd               LT Non-FBL            B+             Assigned
Spark Insulators Pvt. Ltd               Long/ST Non-Fund      B+ /           Assigned
                                        Based Limited         A4
Spark Insulators Pvt. Ltd               Long/ST Unallocated   B+ /           Assigned
                                        Limits                A4
Sree Siva Sankar Automobiles            FBL                   BB-    75      Assigned
Stci Finance Ltd                        LT debt programme     AA     3000    Reaffirmed
Stci Finance Ltd                        LT debt programme     AA     12000   Reaffirmed
Stci Finance Ltd                        LT Bk lines           AA     200     Reaffirmed
Sultanpure Textile Mills Pvt            LT, FBL - CC          BB-   95      Assigned
Ltd
Sultanpure Textile Mills Pvt            LT, FBL - CC          BB-    95      Assigned
Ltd
Teesta Rangit Pvt Ltd                   FBL (TL)              D      400     Reaffirmed
Teesta Rangit Pvt Ltd                   FBL (TL)              D      400     Reaffirmed
The Grob Tea Co. Ltd                    Working Capital       A-     140.8   Reaffirmed
The Grob Tea Co. Ltd                    Letter of Guarantee   A-     1.2     Reaffirmed
The Grob Tea Co. Ltd                    Unallocated Limit     A-     8       Reaffirmed
Universal Mine Developers &             TL                    A      1560    Outstanding
Service Providers Pvt Ltd
Universal Mine Developers &             FBL                   A      60      Outstanding
Service Providers Pvt Ltd
Windals Precision Pvt Ltd               TL                    BBB    318     Assigned
(enhanced from Rs. 14.84 crore)
Windals Precision Pvt Ltd               LT FBL                BBB    360     Assigned
(enhanced from Rs. 27.50 crore)
Yashveer Ceramics                       LT Fund based - CC    B      30      Revised from
                                                                                   B+
Yashveer Ceramics                       LT Fund based - TL    B      52.5    Revised from
                                                                                   B+
--------------------------------------------------------------------------------------------
$: 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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