Petrol hike pumps hope for India
Raising prices at petrol pumps is never likely to be popular. India's brave decision will also prove meaningless unless it is followed by bolder action to cut the more generous diesel subsidies. But the direction of travel is right and if the journey continues India could just turn a corner, writes Jeff Glekin. Full Article
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Long-term debt programs of Indian firms rated by FITCH:PART II
/F2+(ind) Parsvnath Developer Ltd. Issuer Ratings
A-(ind) Downgraded Parsvnath Developer Ltd. Long Term Debt A-(ind) 2000 Downgraded Parsvnath Developers Ltd Long Term Rating
BB-(ind) Reaffirmed Patel Engineering Ltd.
NLTR A+(ind) Withdrawn Patel Engineering Ltd. NCD
A+(ind) 250 Withdrawn Patel Integrated Logistics Ltd National LT Rating BB+(ind) Assigned Patel Integrated Logistics Ltd LT Bank Loans
BB+(ind) 7.5 Assigned Patel Integrated Logistics Ltd Cash Credit Limit BB+(ind) 239 Assigned Patel Integrated Logistics Ltd Financial Lease
Obligation BB+(ind) 52 Assigned PEC Ltd NLTIR A(ind) Assigned PEC Ltd LT FBL A(ind) 1020 Assigned Pearl Polymers Limited WC BB+(ind) 190 Assigned Pearl Polymers Limited BB+(ind)/ Petronet LNG Ltd. NLTR
AA(ind) Reaffirmed Phillips Carbon Black Ltd NLTIR A(ind) Assigned Phillips Carbon Black Ltd Existing LT bank loans A(ind) 1469.7 Assigned Phillips Carbon Black Ltd FBL working capital A(ind) 1450 Assigned Phorotech Surfin Pvt. Ltd. NLTR
BB+(ind) Assigned Phorotech Surfin Pvt. Ltd.
LT Loans BB+(ind) 35.7 Assigned Phorotech Surfin Pvt. Ltd. FB Cash Credit Limits BB+(ind) 20 Assigned Pimpri Chinchwad Municipal Corp. NLTR AA-(ind) Assigned Polycab Cables NLTR
A- Assigned Polycab Cables Pvt. Ltd.
NLTR A-(ind) Assigned Polycab Wires Pvt. Ltd. NLTR
A+(ind) Assigned Polycab Wires Pvt. Ltd.
Cash Credit A+(ind) 500 Assigned Polycab Wires Pvt. Ltd. FB Working Capital
A+(ind) 5100 Assigned Polycab Wires Industries
NLTR BBB(ind) Assigned Polycab Wires Industries Cash Credit
BBB(ind) 300 Assigned Polycab Wires Industries Pvt. Ltd. NLTR BBB(ind) Assigned Polycab Wires Industries Pvt. Ltd. Cash Credit
BBB(ind) 300 Assigned Polycab Wires Pvt. Ltd.
Fund Based WC Limit A+(ind)/ F1(ind) 5100 Assigned Pooja Forge Ltd. NLTR
BBB(ind) Assigned Pooja Forge Ltd.
Term Loans BBB(ind) 139.9 Assigned Pooja Forge Ltd. FB Working Capital
BBB(ind) /F2(ind) 280 Assigned Pooja Forge Ltd.
NFB Working Capital BBB(ind) /F2(ind) 90 Assigned Power Fin. Corp. Ltd. Issuer Rating AAA(ind) Reaffirmed Power Fin. Corp. Ltd. LT FCIDR BBB-
Reaffirmed Precision Automation & Robotics India Ltd.
NLTR A-(ind)
Assigned Precision Automation & Robotics India Ltd.
Term Loans A-(ind) 249 Assigned Precision Automation & Robotics India Ltd.
Fund Based WC Limits A-(ind) 478.7 Assigned Precision Automation & Robotics India Ltd.
F1(ind) 1079.9 Assigned Punjab National Bank LT Issuer Rating
BBB- Assigned Punjab National Bank
Support Rating Floor BBB- Assigned Punjab National Bank LT Rating
AAA(ind) Assigned Punjab National Bank
Subor. Lower Tier II AAA(ind) Assigned Punjab National Bank Indivisdual Rating
C/D Assigned Punjab State Co-op Milk Producers National LT rating BBB(ind) Assigned Punjab State Co-op Milk Producers Fund Based Limit
BBB(ind) Assigned Puravankara Projects Ltd
National LT Issuer Rating BBB(ind) Downgraded Puravankara Projects Ltd LT Debt
BBB(ind) 5000 Downgraded QH Talbros Ltd.
NLTR BBB(ind) Assigned QH Talbros Ltd. O/S Term Loans
BBB(ind) 209.08 Assigned QH Talbros Ltd.
FBL BBB(ind) /F3(ind) 370 Assigned QH Talbros Ltd. NFBL
BBB(ind) /F3(ind) 202 Assigned Quippo Telecom Infrastructure NLTR BBB-(ind)
Assigned Quippo Telecom Infrastructure LT Loans
BBB-(ind) Assigned Quippo Telecom Infrastructure Fund Based WC Limits BBB-(ind) /F3(ind) Assigned Quippo Telecom Infrastructure Non-Fund Based WC Limits BBB-(ind) /F3(ind) Assigned Rain Commodities Ltd NLTR
A-(ind) Assigned Rain Commodities Ltd
LT Bank Loan A-(ind) 2854 Assigned Rain Commodities Ltd Cash Credit
A-(ind) 80 Assigned Raj Royan Ltd.
NLTR BB-(ind) Downgraded Raj Royan Ltd. LT Bank Loans
BB-(ind) 653 Downgraded Raj Royan Ltd.
Cash Credit BB-(ind) 500 Downgraded Rashtriya Ispat Nigam Ltd. National Issuer Rating AA(ind) Assigned Rashtriya Ispat Nigam Ltd. Fund Based Working AA(ind)
Capital Banking Limits /F1+(ind) 5153.5 Assigned Rashtriya Ispat Nigam Ltd. Non-Fund Based Facilities AA(ind) 24600 Assigned Rashmi Cement Ltd National LT Rating BB+(ind) Assigned Rashmi Cement Ltd Outstanding LT Debt BB+(ind) 137.2 Assigned Rashmi Cement Ltd Cash Credit Limit BB+(ind) 1045 Assigned Rashmi Metaliks Ltd National LT Rating BB+(ind) Assigned Rashmi Metaliks Ltd Outstanding LT Debt BB+(ind) 790.3 Assigned Rashmi Metaliks Ltd Cash Credit Limit BB+(ind) 1560 Assigned Raychem RPG NLTR A+(ind) Reaffirmed Raychem RPG
LT Bank Loan A+(ind) 444.9 Reaffirmed Raychem RPG Fund Based WC Limits A+(ind)/ 875 Reaffirmed F1(ind) 875 Reaffirmed Responsive Industries Limited National Long-term A-(ind) - Assigned Responsive Industries Limited LT loans A-(ind) 15.8 Assigned Responsive Industries Limited Cash credit limits A-(ind) 400 Assigned RMBS Trust Series VIII PTC Series A AAA(ind) Assigned RB Loan Trust Series VI SeriesA BBB(ind) 1002.9 Downgraded RB Loan Trust Series VII
SeriesA1(IO) BBB(ind) 24.9 Downgraded RB Loan Trust Series VI SeriesA2(PO) BBB(ind) 518.2 Downgraded RB Loan Trust Series IX
SeriesA BBB(ind) 100.3 Downgraded (Mumbai Rate Reporting Unit, +91 22 6636 9222, rru.data@reuters.com)
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