India Ratings for Indian debt instruments-Oct 7

Mon Oct 7, 2013 11:35am IST

Oct 7 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd
(India Ratings), formerly known as Fitch Ratings India for local debt instruments as of
October 4, 2013.

COMPANY                         INSTRUMENT                 RATING       AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------                 ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Ajay Trading Company (ATC)      Non-FB limits              IND A4       100      Withdrawn
B & A Packaging India Ltd.      Non-FB limits              IND A4+      42       Withdrawn
(BAPIL)
Calcutta Springs Ltd. (CSL)     Non-FB limits              IND A4       200      Withdrawn
Cosmic Ferro Alloys Ltd.        Non-FBL                    IND A4+      1170     Withdrawn
(CFAL)
Harshit Power & Ispat Pvt Ltd   Non-FB limits              IND A4       50       Withdrawn
(HPIL)
M.K. Patel Exim Pvt. Ltd.       Non-FB limits              IND A4       730      Withdrawn
Sahyogi Distributors Ltd.       Non-FB limits.             IND A4       220      Withdrawn
Shri Dhanalakshmi Spinntex Pvt  Non-FB limits              IND A4+      100      Assigned
Ltd (SDSPL)
Wearit Global Ltd. (WGL)        FB Fac for packing credit  IND A4       250      Suspended
Wearit Global Ltd. (WGL)        Non-FB Fac                 IND A4       50       Suspended

LONG TERM RATINGS:
-------------------
Ajay Trading Company (ATC)      FB limits                  IND B+       40       Withdrawn
B & A Packaging India Ltd.      Long-TL                    IND BB-      69       Withdrawn
(BAPIL)
B & A Packaging India Ltd.      FB limits                  IND BB-      60       Withdrawn
(BAPIL)
Bhavya Constructions Pvt Ltd    FB WC facility.            IND B+ (exp) 75       Withdrawn
(BCPL)
Calcutta Springs Ltd. (CSL)     Long-TL                    IND B-       196.5    Withdrawn
Calcutta Springs Ltd. (CSL)     FB limits                  IND B-       85       Withdrawn
Chowdary Spinners Ltd (CSL)     FB WC limit                IND B+/      200      Suspended
                                                           IND
Cosmic Ferro Alloys Ltd.        Long-TL                    IND BB+      217.1    Withdrawn
(CFAL)
Cosmic Ferro Alloys Ltd.        CC limits                  IND BB+      380      Withdrawn
(CFAL)
Emerald Mineral Exim Ltd        FB limits:                 IND D        154      Withdrawn
Emerald Mineral Exim Ltd        Non-FB limits:             IND D        50.07    Withdrawn
Harshit Power & Ispat Pvt Ltd   Long-TL I                  IND C        117.2    Withdrawn
(HPIL)
Harshit Power & Ispat Pvt Ltd   FB limits:                 IND C        97       Withdrawn
(HPIL)
Harshit Power & Ispat Pvt Ltd   long-TL II                 IND D        70       Withdrawn
(HPIL)
Kwality Feeds Ltd               Outstanding TL as of 31    IND BB+      38.95    Assigned
                                August 2013
Kwality Feeds Ltd               FB WC limits               IND BB+ /IND 45       Assigned
                                                           A4+
Kwality Feeds Ltd               FB (small and medium       IND BB+/ IND 2.5      Assigned
                                enterprises) credit limits A4+
Kwality Feeds Ltd               FB WC demand loan          IND BB+/ IND 60       Assigned
                                                           A4+
M.K. Patel Exim Pvt. Ltd.       CC limits                  IND B+       80       Withdrawn
Madras Fertilizers Ltd (MFL)    FB limits                  IND C / IND  1914     Affirmed
                                                           A4
Madras Fertilizers Ltd (MFL)    Non-FB limits              IND C / IND  1328     Affirmed
                                                           A4
increased from INR300m
Muppa Homes Pvt Ltd (MHPL)      FB demand loan limits      IND BB / IND 100      Assigned
                                                           A4+
New Tech Steel & Alloys Pvt Ltd LT Issuer Rating           IND D                 Suspended
New Tech Steel & Alloys Pvt Ltd long-TL                    IND D        104.2    Suspended
New Tech Steel & Alloys Pvt Ltd FB limits                  IND D        63.39    Suspended
Saluja Steel & Power Pvt Ltd    long-TL                    IND C        35.8     Withdrawn
Saluja Steel & Power Pvt Ltd    FB limits                  IND C        140.8    Withdrawn
Saluja Steel & Power Pvt Ltd    non-FB limits:             IND D        20       Withdrawn
Shri Dhanalakshmi Spinntex Pvt  Outstanding TL             IND BB-      713.2    Assigned
Ltd (SDSPL)
Shri Dhanalakshmi Spinntex Pvt  FB limits                  IND BB-/ IND 176      Assigned
Ltd (SDSPL)                                                A4+
Wearit Global Ltd. (WGL)        TL                         IND B-       420      Suspended
Wearit Global Ltd. (WGL)        CC limits                  IND B-       140      Suspended
-----------------------------------------------------------------------------------------------
Note:- All Indian National-scale ratings previously assigned by Fitch have been transferred to
India Ratings & Research Private Ltd (India Ratings), which is a wholly owned subsidiary of the
Fitch Group. The withdrawn criteria are now available on India Ratings' website at
www.indiaratings.co.in

$: 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

INDIA RATINGS 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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