May 11, 2017 / 10:22 AM / 3 months ago

ICRA ratings for Indian debt instruments-May 11

    May 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 10, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Archit Plywood Pvt Ltd                  ST: LOC               ICRA A4     400     Reaffirmed
Gic Housing Finance Ltd                 CP programme          ICRA A1+    15000   Reaffirmed
Gic Housing Finance Ltd                 ST Bk lines           ICRA A1+    5000    Reaffirmed
Minex Metallurgical Co. Ltd             ST fund based/non-FBL ICRA A1     150     Reaffirmed
Rajgangpur Ispat Udyog                  FBL                   ICRA A4     50      Reaffirmed
Sharekhan Financial Services            CP programme (IPO     ICRA A1+    -       Assigned
Pvt Ltd                                 financing)
Sharekhan Financial Services            CP/ST debt programme  ICRA A1+    -       Outstanding
Pvt Ltd
Skg Timbers Pvt Ltd                     ST: Non-FBL           ICRA A4     180     Reaffirmed
William Industries Pvt Ltd              PC / FBP as Sub limit ICRA A4     -       Reaffirmed
                                        of CC
William Industries Pvt Ltd              Bill Discounting as   ICRA A4     -       Reaffirmed
                                        Sub limit of CC


LONG TERM RATINGS:
-------------------
Aircel Cellular Ltd                     FB/Non-FBL            ICRA BBB    17,4790^Revised from
                                                                                  ICRA BBB+
^These limits are consolidated for Aircel Group;
interchangeable among Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and
Aircel Smart Money Limit
Aircel Ltd                              FB/Non-FBL            ICRA BBB    174790^ Revised from
                                                                                  ICRA BBB+
^These limits are consolidated for Aircel Group; 
 interchangeable among Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and
Aircel Smart Money Limit
Aircel Smart Money Ltd                  FB/Non-FBL            ICRA BBB    174790^ Revised from
                                                                                  ICRA BBB+
^These limits are consolidated for Aircel Group; 
interchangeable among Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and
Aircel Smart Money Limit
Ambuthirtha Power Pvt Ltd               TL                    ICRA BBB    1250    Reaffirmed
Archit Plywood Pvt Ltd                  LT: CC                ICRA B      400     Reaffirmed
Archit Plywood Pvt Ltd                  LT: TL                ICRA B      75      Reaffirmed
Archit Plywood Pvt Ltd                  ST/LT: Unallocated    ICRA B/A4   25      Reaffirmed
Azure Power Infrastructure              Rupee TL              ICRA BBB+   2600    Upgraded
Pvt. Ltd.                                                                         from
                                                                                  ICRA BBB
Dishnet Wireless Ltd                    FB/Non-FBL            ICRA BBB    174790^ Revised from
                                                                                  ICRA BBB+
^These limits are consolidated for Aircel Group; 
interchangeable among Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and
Aircel Smart Money Limit
Gic Housing Finance Ltd                 LT Bk lines           ICRA AA+    85000   Reaffirmed
Gic Housing Finance Ltd                 NCD programme         ICRA AA+    5500    Reaffirmed
Minex Metallurgical Co. Ltd             LT FBL                ICRA A+     700     Upgraded
                                                                                  from ICRA A
Rajgangpur Ispat Udyog                  CC                    ICRA B-     30      Reaffirmed
Skg Timbers Pvt Ltd                     LT: FBL               ICRA BB-    50      Reaffirmed
Soham Mannapitlu Power Pvt Ltd          TL                    ICRA B+     544     Reaffirmed
Srilanand Mansions Pvt Ltd              TL                    ICRA BBB-   400     Assigned
Srilanand Mansions Pvt Ltd              Non-FB Fac            ICRA BBB-   100     Assigned
Team Krian                              FB Fac                ICRA BB+    150     Assigned /
                                                                                  outstanding
William Industries Pvt Ltd              CC                    ICRA B      70      Reaffirmed
Yaaganti Seeds Pvt Ltd                  FB limits             ICRA BBB-   180     Placed on
                                                                                  notice of
                                                                                  withdrawal
Yaaganti Seeds Pvt Ltd                  Unallocated limits    ICRA BBB-   20      Placed on
                                                                                  notice of
                                                                                  withdrawal
--------------------------------------------------------------------------------------------
$: 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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