February 8, 2017 / 10:59 AM / in 8 months

ICRA ratings for Indian debt instruments-Feb 8

    Feb 8 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of February 7, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Ankit Diamonds                          ST - FB Limit         ICRA A4     500     Assigned
Ankit Diamonds                          ST - Interchangeable  ICRA A4     8750    Assigned
Coirfoam India Pvt Ltd                  ST Non Fund Based     ICRA A4     10      Reaffirmed
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+    25000   Assigned
                                        financing)
Ecl Finance Ltd                         CP                    ICRA A1+    36000   Outstanding
Ecl Finance Ltd                         ST NCD                ICRA A1+    1000    Outstanding
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+    7500    Withdrawn
                                        financing)
Ecl Finance Ltd                         CP Programme (IPO     ICRA A1+    25000   Withdrawn
                                        financing)
Ecl Finance Ltd                         ST Equity linked      PP-MLD       9000    Outstanding
                                        Debenture             ICRA A1+
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+    30000   Outstanding
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD                ICRA A1+    1000    Outstanding
Ltd
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+    30000   Assigned
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+    10000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          CP Programme (IPO     ICRA A1+    25000   Withdrawn
Ltd                                     financing)
Edelweiss Commodities Services          ST NCD                ICRA A1+    1000    Outstanding
Ltd
Edelweiss Commodities Services          ST Equity linked      PP-MLD       5000    Outstanding
Ltd                                     Debenture             ICRA A1+
Edelweiss Commodities Services          ST Equity linked      PP-MLD       5000    Outstanding
Ltd                                     Debenture             ICRA A1+
Edelweiss Finance &                     CP Programme (IPO     ICRA A1+    10000   Assigned
Investments Ltd                         financing)
Edelweiss Finance &                     CP Programme (IPO     ICRA A1+    10000   Withdrawn
Investments Ltd                         financing)
Edelweiss Finance &                     CP                    ICRA A1+    5000    Outstanding
Investments Ltd
Edelweiss Finance &                     ST Equity linked      PP-MLD       4000    Outstanding
Investments Ltd                         Debenture             ICRA A1+
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+    30000   Assigned
Ltd                                     financing)
Edelweiss Financial Services            CP Programme (IPO     ICRA A1+    30000   Withdrawn
Ltd                                     financing)
Edelweiss Financial Services            CP                    ICRA A1+    50000   Outstanding
Ltd
Edelweiss Financial Services            ST NCD                ICRA A1+    1000    Outstanding
Ltd
Godrej Industries Ltd                   Short-TL              ICRA A1+    2000    Reaffirmed
Godrej Industries Ltd                   ST – NFBL             ICRA A1+    6000    Reaffirmed
Godrej Industries Ltd                   ST Debt/ CP Programme^ICRA A1+    600     Reaffirmed
Godrej Industries Ltd                   ST Debt/ CP Programme ICRA A1+    9400    Reaffirmed
                                        (Standalone)
Joyalukkas India Pvt Ltd                ST: NFBL              ICRA A1     100     Reaffirmed
Joyalukkas India Pvt Ltd                ST: Fund based / Non  ICRA A1             Reaffirmed
                                        fund based sub-limits
Keltron Component Complex Ltd           ST non-FB Fac         ICRA A4     127.5   Reaffirmed
Marbilano Tiles Llp                     NFBL                  ICRA A4     20      Assigned
Mastek Ltd                              Non-FBL               ICRA A1+    90      Removed from
                                                                                   Rating Watch
                                                                                   with
                                                                                   developing
                                                                                   implications
Quality Engineering & Software          FB Fac                ICRA A1+    300     Reaffirmed
Technologies Pvt Ltd
Quality Engineering & Software          Non-FB Fac            ICRA A1+    10      Reaffirmed
Technologies Pvt Ltd
Srl Diagnostics Pvt Ltd                 ST Non FB Fac*        ICRA A2+            Reaffirmed
*Interchangeable with cash credit facilities
Samruddha Resources Ltd                 ST non-FBL            ICRA D              Withdrawn
Srl Ltd                                 ST Non FB Fac*        ICRA A1+            Reaffirmed
*Interchangeable with cash credit facilities
Usha International Ltd                  Non-FBL               ICRA A3+    2100    Reaffirmed
Weener Empire Plastics Ltd              Non – FBL – BG/LC     ICRA A2+    5       Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Godrej Industries Ltd                   Medium Term, Public   MAA+                Reaffirmed
                                        Deposits
LONG TERM RATINGS:
-------------------
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA A+(SO) 6000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA A+(SO) 3000    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA A+(SO) 2500    Outstanding
Ltd
Aasan Corporate Solutions Pvt           NCDs (NCDs)           ICRA A+(SO) 2500    Outstanding
Ltd
Anjali Infracrete Pvt Ltd               CC                    ICRA B      35      Reaffirmed
Anjali Infracrete Pvt Ltd               TL                    ICRA B      54      Reaffirmed
Anjali Infracrete Pvt Ltd               Unallocated Limits    ICRA B      11      Assigned
Coirfoam India Pvt Ltd                  LT Fund Based         ICRA B+     70      Reaffirmed
Ecl Finance Ltd                         NCD                   ICRA AA     63500   Outstanding
Ecl Finance Ltd                         Sub Debt              ICRA AA     6500    Outstanding
Ecl Finance Ltd                         Bk Lines              ICRA AA /   57000   Outstanding
                                                              A1+;
Ecl Finance Ltd                         LT Equity linked      PP-MLD       13500   Outstanding
                                        Debenture             ICRA AA
Edelweiss Commodities Services          NCD                   ICRA AA     10000   Assigned
Ltd
Edelweiss Commodities Services          NCD                   ICRA AA     15000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA     20000   Outstanding
Ltd
Edelweiss Commodities Services          NCD                   ICRA AA     15000   Outstanding
Ltd
Edelweiss Commodities Services          Bk Lines              ICRA AA     20000   Outstanding
Ltd
Edelweiss Finance &                     NCD                   ICRA AA     7500    Outstanding
Investments Ltd
Edelweiss Finance &                     Sub Deb               ICRA AA     500     Outstanding
Investments Ltd
Edelweiss Finance &                     LT Equity linked      PP-MLD       8000    Outstanding
Investments Ltd                         Debenture             ICRA AA
Edelweiss Financial Services            NCD                   ICRA AA     5000    Outstanding
Ltd
Gmr Aviation Pvt Ltd                    LT FB Bk Fac          ICRA BB-    30      Upgraded
                                                                                  from ICRA B
Gmr Aviation Pvt Ltd                    LT/ ST Non-fund based ICRA BB-    36      Upgraded
                                        Bk Fac                                    from
                                                                                  ICRA B/
                                                                                  ICRA A4 
                                                                                  Reaffirmed
Gmr Aviation Pvt Ltd                    LT/ ST Unallocated Bk ICRA BB-    14      upgraded
                                        Fac                                       from
                                                                                  ICRA B/
                                                                                  ICRA A4 
                                                                                  Reaffirmed
Godrej Industries Ltd                   LT - FBL              ICRA AA     900     Reaffirmed
Godrej Industries Ltd                   LT - NFBL             ICRA AA     500     Reaffirmed
Godrej Industries Ltd                   LT Debt / NCD         ICRA AA     1250    Reaffirmed
                                        Programme
Gokak Power & Energy Ltd                FBL (TL)              ICRA A-     860     Reaffirmed
Joyalukkas India Pvt Ltd                LT: TL                ICRA A      1000    Reaffirmed
Joyalukkas India Pvt Ltd                LT: FBL               ICRA A      12900   Reaffirmed
Keltron Component Complex Ltd           LT FB Fac             ICRA B-     112.5   Reaffirmed
Marbilano Tiles Llp                     FBL                   ICRA B      190     Outstanding
Mastek Ltd                              FB/ Non-FBL           ICRA A+/    60      Removed from
                                                              ICRA A1+            Rating Watch
                                                                                  with 
                                                                                  developing
                                                                                  implications, 
‘Stable’ Outlook assigned to the long-term rating
Mastek Ltd                              FB Limits             ICRA A+;    40      Removed from
                                                                                  Rating Watch
                                                                                  with 
                                                                                  developing 
                                                                                  implications, 
                                                                                  Stable
                                                                                  Outlook 
                                                                                  assigned
Print Solutions Pvt Ltd                 FBL                   ICRA B      190     Assigned
Quality Engineering & Software          Fund based            ICRA A+             Reaffirmed
Technologies Pvt Ltd                    (Sub-limit) Fac
Samruddha Resources Ltd                 FBL                   ICRA B-     250     Upgraded
                                                                                  from ICRA D
Srl Diagnostics Pvt Ltd                 LT FB Fac             ICRA A-     150     Reaffirmed
Srl Ltd                                 LT FB Fac             ICRA A+     240     Reaffirmed
Usha International Ltd                  Bk Fac (including TL  ICRA BBB    1400    Reaffirmed
                                        and unallocated Fac)
                                        (earlier Rs. 221.00 crore)
Weener Empire Plastics Ltd              FBL – TL              ICRA BBB+   192.1   Reaffirmed
Weener Empire Plastics Ltd              FBL – CC              ICRA BBB+   255     Reaffirmed
Weener Empire Plastics Ltd              FBL – Working capital ICRA BBB+   200     Reaffirmed
                                        Fac
--------------------------------------------------------------------------------------------
$: 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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