Movement of each credit rating from investment grade to non

Movement of each credit rating from investment grade to non

6.2.2.2: Movement of each credit rating from investment grade to non-investment grade and vice versa
Note :Pursuant to SEBI Circular No Circular CIR/MIRSD/4/2011 dated June 15, 2011, ICRA has adopted new rating symbols. Some of
the ratings which were assigned prior to aforesaid SEBI Circular, on old rating scale, have also been mapped to new rating symbols.
(A)
Sl. No
Sl. No
Structured Instruments – April 2011 – September 2011
Name of the issuer
Nil
Rating Movement from Investment Grade and Non-invetsment Grade
between Apr 2011-Sep 2011
From Investment Grade to Non-investment Grade
Instrument
Rating prior to Revision
Name of the issuer
1 RHO Pioneer IFMR Capital 2011
Rating Post revision
From Non-Investment Grade to Investment Grade
Instrument
Rating prior to Revision
Rating Post revision
PTC Series
[ICRA]A4+(SO)!
[ICRA]A2+(SO)!
A2
(B)
Non-Structured Instruments – April 2011 – September 2011
Rating Movement from Investment Grade to Non-investment Grade between Apr 2011-Sep 2011
S.No
1
2
2
3
4
5
5
6
6
7
7
8
8
9
9
10
10
11
11
12
13
13
14
15
16
16
17
17
18
19
19
Name of the Issuer
Acme Telecom Assets Limited
Axis Ad-Print-Media (India) Limited
Axis Ad-Print-Media (India) Limited
Belgaum Wind Farms Private Limited
Bhrigus Software India Private Limited
Birla Ericsson Optical Limited
Birla Ericsson Optical Limited
BRG Energy Limited
BRG Energy Limited
Cosmas Pharmacls Limited
Cosmas Pharmacls Limited
Dembla Valves Limited
Dembla Valves Limited
Flawless Diamond India Ltd
Flawless Diamond India Ltd
Geodesic Techniques Private Limited
Geodesic Techniques Private Limited
Indore Composite Private Limited
Indore Composite Private Limited
Indu Navayuga Infra Projects Pvt. Ltd.
Indu Projects Limited
Indu Projects Limited
Kamla Shanti Landmarc Properties Private Limited
Maharishi Ayurveda Products Private Limited
Manjeet Cotton Private Limited
Manjeet Cotton Private Limited
MRO-TEK Limited
MRO-TEK Limited
Rawmin Mining and Industries Private Limited
RRC International Freight Services Limited
RRC International Freight Services Limited
Rating prior to Revision
LA-(stable)
LBBBA3
LBBBLBBB
LBBBA3
LBBB
A3+
LBBBA3
LBBBA3
LBBBA3
LBBBA3
LBBBA3
LBBB-(positive)
LBBB
A3+
LBBB-(stable)
A3
LBBBA3
LBBBA3
A3
LBBB-(stable)
A3
Rating Post Revision
[ICRA]BB+(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB(stable)
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]C
A5
[ICRA]B+
[ICRA]A4
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BB-(stable)
[ICRA]A4
[ICRA]C+
[ICRA]B+
[ICRA]A4
[ICRA]C+
[ICRA]A4
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]A4+
[ICRA]BB+(stable)
[ICRA]A4+
Rating Movement from Investment Grade to Non-investment Grade between Apr 2011-Sep 2011
S.No
20
21
21
22
22
23
23
24
24
25
26
26
27
28
28
29
29
30
30
Name of the Issuer
Seven Island Shipping Limited
Sical Iron Ore Terminals Limited
Sical Iron Ore Terminals Limited
Srinivasa Edifice Private Limited
Srinivasa Edifice Private Limited
State Trading Corporation of India Limited
State Trading Corporation of India Limited
Sterling Biotech Limited
Sterling Biotech Limited
Synergy Shakti Renewable Energy Limited
Taj Frozen Foods India Limited
Taj Frozen Foods India Limited
Tamil Nadu Electricity Board
Technico Industries Limited
Technico Industries Limited
Unique Biotech Limited
Unique Biotech Limited
Vinayak Steels Limited
Vinayak Steels Limited
Rating prior to Revision
LBBB
LBBB-@
A3@
LBBBA3
LBBB-(negative)
A3
LBBB+
A3+
LBBBLBBBA3
LBBB-&
LBBB-(stable)
A3
LBBBA3
LBBBA3
Rating Post Revision
[ICRA]C
[ICRA]BB+(negative)
[ICRA]A4+
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB(stable)
[ICRA]A4
[ICRA]C
[ICRA]A4
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB+&
[ICRA]B+
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
Rating Movement from Speculative Grade to Investment Grade between Apr 2011-Sep 2011
Rating prior
S.No Name of the Issuer
to Revision
Rating Post Revision
1
Adani Agri Fresh Limited
LBB+
[ICRA]BBB(stable)
1
Adani Agri Fresh Limited
A4+
[ICRA]A3+
2
Arush Industries
LBB+
[ICRA]BBB-(stable)
2
Arush Industries
A4+
[ICRA]A3
3
AVR Swarnamahal Jewelry Private Limited
LBB+
[ICRA]BBB-(stable)
Rating Movement from Speculative Grade to Investment Grade between Apr 2011-Sep 2011
Rating prior
S.No Name of the Issuer
to Revision
Rating Post Revision
4
Barflex Polyfilms Pvt. Ltd.
LBB+(positive) [ICRA]BBB-(stable)
4
Barflex Polyfilms Pvt. Ltd.
A4+
[ICRA]A3
5
Bola Surendra Kamath & Sons
LBB+
[ICRA]BBB-(stable)
5
Bola Surendra Kamath & Sons
A4+
[ICRA]A3
6
Cheslind Textiles Limited
LBB+
[ICRA]BBB-(stable)
6
Cheslind Textiles Limited
A4+
[ICRA]A3
7
Fujikawa Power
LBB+
[ICRA]BBB-(stable)
7
Fujikawa Power
A4+
[ICRA]A3
8
Geon International
LBB+
[ICRA]BBB-(stable)
8
Geon International
A4+
[ICRA]A3
9
Harrisons Malayalam Limited
LBB+
[ICRA]BBB-(stable)
9
Harrisons Malayalam Limited
A4+
[ICRA]A3
10
Indu Projects Limited
LB+
[ICRA]BBB-(stable)
10
Indu Projects Limited
A4
[ICRA]A3
11
Inmar Tourism and Hotels Private Limited
LBB
[ICRA]BBB-(stable)
12
Kherani Paper Mills Private Limited
LBB+
[ICRA]BBB-(stable)
12
Kherani Paper Mills Private Limited
A4+
[ICRA]A3
13
M/s Sunland Metal Recycling Industries
LBB+
[ICRA]BBB-(stable)
13
M/s Sunland Metal Recycling Industries
A4+
[ICRA]A3
14
Net 4 India Limited
LBB+(stable)
[ICRA]BBB-(stable)
14
Net 4 India Limited
A4+
[ICRA]A3
15
Paracoat Products Limited
LBB+
[ICRA]BBB-(stable)
15
Paracoat Products Limited
A4+
[ICRA]A3
16
Petro Carbon & Chemicals Private Limited
LBB+
[ICRA]BBB-(stable)
16
Petro Carbon & Chemicals Private Limited
A4+
[ICRA]A3
17
Prince Gem & Jewelry Private Limited
LBB+
[ICRA]BBB-(stable)
17
Prince Gem & Jewelry Private Limited
A4+
[ICRA]A3
Rating Movement from Speculative Grade to Investment Grade between Apr 2011-Sep 2011
Rating prior
S.No Name of the Issuer
to Revision
Rating Post Revision
18
Pyramid Technoplast Private Limited
LBB+(stable)
[ICRA]BBB-(stable)
18
Pyramid Technoplast Private Limited
A4+
[ICRA]A3
19
Ramprastha Promoters & Developers Private Limited
LBB+
[ICRA]BBB-(stable)
20
Rathi Special Steels Limited
LBB+(stable)
[ICRA]BBB-(stable)
Renaatus Projects Private Limited (erstwhile RPP Selvam Infrastructure Private
21
Limited)
A4+
[ICRA]A3
22
S.G. International
LBB+
[ICRA]BBB-(stable)
22
S.G. International
A4+
[ICRA]A3
23
Sheetal Manufacturing Company Private Limited
LBB+
[ICRA]BBB-(stable)
24
Sun Nirman Infrastructure Private Limited
LBB+
[ICRA]BBB-(stable)
24
Sun Nirman Infrastructure Private Limited
A4+
[ICRA]A3
25
Sunnox International
LBB+
[ICRA]BBB-(stable)
25
Sunnox International
A4+
[ICRA]A3
26
Suryalakshmi Cotton Mills Limited
LBB+
[ICRA]BBB-(stable)
26
Suryalakshmi Cotton Mills Limited
A4+
[ICRA]A3