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ICRA ratings for Indian debt instruments-May 15
May 15, 2017 / 10:24 AM / 6 months ago

ICRA ratings for Indian debt instruments-May 15

   May 15 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of May 12, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Fritzmeier Motherson Cabin              ST, FB Limits         ICRA A2+     20      upgraded
Engineering Ltd                                                                    from ICRA A3
Fritzmeier Motherson Cabin              ST Interchangeable**  ICRA A2+             upgraded
Engineering Ltd                                                                    from ICRA A3
**Sub-limit of cash-credit facility
Harsha Stone Industries                 Foreign Outward Bills ICRA A4      50      Withdrawn
                                        Purchase (FOBP)
Hindustan Copper Ltd                    Non-FB Fac            ICRA A1+     5000    Reaffirmed
Koneru Constructions Pvt Ltd            Non FB                ICRA A4      75      Assigned /
                                                                                   outstanding
Meridian Clothing Company Pvt           Non-FBL               ICRA A4      20      Reaffirmed
Ltd
Nis Management Pvt Ltd                  Non-FB – BG           ICRA A2      100     Assigned
Sinosteel India Pvt Ltd                 Unallocated Non-FB    ICRA A4+     220     Withdrawn


LONG TERM RATINGS:
-------------------
Fritzmeier Motherson Cabin              FB – TL               ICRA BBB+    72      upgraded
Engineering Ltd                                                                    from ICRA
                                                                                   BBB-
Fritzmeier Motherson Cabin              FB – CC               ICRA BBB+    130     upgraded
Engineering Ltd                                                                    from ICRA
                                                                                   BBB-
Fritzmeier Motherson Cabin              Unallocated Limits    ICRA BBB+    130     upgraded
Engineering Ltd                                                                    from ICRA
                                                                                   BBB-
Grama Vidiyal Microfinance              PTC Series A1         ICRA A-(SO)          Withdrawn
Ltd- Cura Ifmr
Capital 2015
Grama Vidiyal Microfinance Ltd          PTC Series A1         ICRA AA+(SO)         Withdrawn
-Indian Mfi Trust Series XV

Harsha Stone Industries                 Packing Credit        ICRA B       45      Withdrawn
Hindustan Copper Ltd                    TL                    ICRA AA+     2000    Reaffirmed
Hindustan Copper Ltd                    FB Fac                ICRA AA+     1850    Reaffirmed
Hindustan Copper Ltd                    FB Fac                ICRA AA+     2650    Reaffirmed
Koneru Constructions Pvt Ltd            FB                    ICRA B+      51.2    Assigned /
                                                                                   outstanding
Koneru Constructions Pvt Ltd            Unallocated Limits    ICRA B+      33.8    Assigned
                                                              /ICRA A4
Meridian Clothing Company Pvt           FBL                   ICRA BB-     58.5    Reaffirmed
Ltd                                                           / ICRA A4
Meridian Clothing Company Pvt           Unallocated limits    ICRA BB-     21.5    Reaffirmed
Ltd                                                           / ICRA A4
Nis Management Pvt Ltd                  FB – CC               ICRA BBB+    360     Assigned
Pritech Projects                        TL                    ICRA BBB     1350    Final Ratings
Shilpi Cable Technologies Ltd           NCD programme         ICRA BB      270     Downgraded
                                                                                   from ICRA
                                                                                   BBB+ 
Sinosteel India Pvt Ltd                 Unallocated FB Limit  ICRA BB+     100     Withdrawn
Sinosteel India Pvt Ltd                 FB/ Non-FB Limits     ICRA BB+     180     Withdrawn
                                                              /ICRA A4+
--------------------------------------------------------------------------------------------
$: 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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