July 6, 2015 / 6:22 AM / 2 years ago

India Ratings for Indian debt instruments - Jul 6

Jul 6 (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
July 3, 2015.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Abok Spring                     NFB WC limits              IND A4+      10       Assigned
Mittapalli Agro Products        Non-FB                     IND A4       5        Withdrawn
                                                           (suspended)
Pawar Electros                  Non-FB                     IND A3       85       Migrated from 
                                                           (suspended)           IND A3
Shakthi Knitting                Non Fund Based             IND A3       220      Upgraded from
                                                                                 IND A4+

LONG TERM RATINGS:
-------------------
Abok Spring                     Long-TL                    IND BB+      28.1     Assigned
Abok Spring                     FB WC limits               IND BB+      140      Assigned
Bhanu Vyaapar                   Proposed                   IND AA- (SO) 650      Provisional
                                Non-debentures
Bhoruka Park                    LT Issuer                  IND BBB+     265      Affirmed
Bhoruka Park                    Rental discounting         IND BBB+     130.7    Withdrawn
                                loan
Dev Infracity                   Proposed NCD               IND AA- (SO) 550      Provisional
Emami Estates                   Proposed NCD               IND AA- (SO) 650      Provisional
Gvr Nagaur Bikaner Tollway      Senior project Bk          IND BBB-     150      Affirmed
                                loan
Harihar Infrastructure          LT Issuer                  IND BB       200      Suspended
Jubilant Offshore Drilling      LT Issuer                  IND BB       -        Downgraded
                                                                                 from IND
                                                                                 BBB-
Jubilant Offshore Drilling      LT Bk loans                IND BB       13400    Downgraded
                                                                                 from IND
                                                                                 BBB-
Jubilant Oil & Gas              LT Issuer Rating           IND BB       -        Downgraded
                                                                                 from IND
                                                                                 BBB-
Jubilant Oil & Gas              Non-FB                     IND BB       760      Downgraded
                                                                                 from IND
                                                                                 BBB-
Mittapalli Agro Export          LT Issuer                  IND B        120      Suspended
                                                           (suspended)
Mittapalli Agro Products        LT Issuer Rating           IND B        -        Withdrawn
                                                           (suspended)
Mittapalli Agro Products        FB limits                  IND B        288      Withdrawn
                                                           (suspended) /
                                                           IND A4 (suspended)
Pawar Electros                  LT Issuer                  IND BBB-     -        Migrated from
                                                           (suspended)           IND BBB-
Pawar Electros                  TL                         IND BBB-     31.6     Migrated from
                                                           (suspended)           IND BBB-
Pawar Electros                  FB                         IND BBB-     190      Migrated from
                                                           (suspended)           IND BBB-
Shakthi Knitting                Long-TL                    IND BB       7.5      Withdrawn
Shakthi Knitting                LT Issuer                  IND BBB-     -        Upgraded from
                                                                                 IND BB
Shakthi Knitting                FB WC                      IND BBB-     840      Upgraded from
                                                                                 IND BB
Shakthi Knitting                LT Issuer                  IND BBB-     -        Upgraded from
                                                                                 IND
                                                                                 INDBB
Shri Jugla                      FB limits                  IND B        51       Withdrawn
Shri Jugla                      LT Issuer                  IND B        -        Migrated from
                                                           (suspended)           IND B
Shri Jugla                      FB limits                  IND B        49       Migrated from
                                                           (suspended)           IND B
Sri Sreenivasa Constructions    LT Issuer                  IND BB-      278.4    Assigned
Sri Sreenivasa Constructions    Long-TL                    IND BB-      278.4    Assigned
Sweta Estates                   LT Issuer                  IND BBB-     3000     Affirmed
-----------------------------------------------------------------------------------------------
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; RWN- Rating
Watch Negative;
RWN- Rating Watch Positive.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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