September 29, 2016 / 6:06 AM / 10 months ago

India Ratings for Indian debt instruments - Sep 29

16 Min Read

Sep 29 (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
September 28, 2016.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Arihant Ship Breakers           Non-FB WC limits       IND              75       Migrated from
                                                       A4(suspended)             IND A4
Contec Syndicate Pvt Ltd        Non-FB WC limits       IND A4+          120      Affirmed
Growell Cnc Systems             Non-FB limits          IND              12.5     Migrated from
                                                       A4(suspended)             IND A4
Hi-Tech Radiators Pvt Ltd       LOC                    IND A4+          140      Affirmed
Jodhani Exports                 FB limits              IND A4+          200      Affirmed
(reduced from INR300m)
Kst Infrastructure Ltd          Non-FB BG              IND              50       Withdrawn
                                                       A4+(suspended)
Rajesh Steel & Wire Industries  Non-FB WC limits       IND A4+          30       Migrated from
                                                                                 IND A4+
Royalline Resources Ltd         WC Facility            IND A3           800      Assigned
Royalline Resources Ltd         WC facility            Provisional IND  90       Assigned
                                                       A3
Sec Buildtech Pvt Ltd           Non-FB limits          IND              45       Withdrawn
                                                       A4(suspended)
Shakun Gases Pvt Ltd            Non-FB WC limits       IND              190      Migrated from
                                                       A4(suspended)             IND A4
Sincon Infrastructure Pvt Ltd   Non-FB working capit   IND A4+          210      Assigned
Sneha Marketing                 Non-FB WC limits       IND              60       Migrated from
                                                       A4(suspended)             IND A4


LONG TERM RATINGS:
-------------------
Arihant Ship Breakers           LT Issuer Rating       IND                       Migrated from
                                                       B-(suspended)             IND B-
Arihant Ship Breakers           FB WC limits           IND              75       Migrated from
                                                       B-(suspended)             IND B-
Arihant Ship Breakers           LTs loan               IND              16.2     Migrated from
                                                       B-(suspended)             IND B-
Contec Syndicate Pvt Ltd        LT Issuer Rating       IND BB                    upgraded from
                                                                                 IND BB-
Contec Syndicate Pvt Ltd        FB WC limits           IND BB           30       upgraded from
                                                                                 IND BB-
D.S.P. Knitting Company         Long-TL                IND              15       Migrated from
                                                       BB-(suspended)            IND BB-
D.S.P. Knitting Company         Non-FB WC limits       IND              52.5     Migrated from
                                                       BB-(suspended)            IND BB-
D.S.P. Knitting Company         LT Issuer Rating       IND                       Suspended
                                                       BB-(suspended) 
Growell Cnc Systems             LT Issuer Rating       IND                       Migrated from
                                                       B-(suspended)             IND B-
Growell Cnc Systems             FB limits              IND              44       Migrated from
                                                       B-(suspended)             IND B-
Growell Cnc Systems             Long-TL                IND              20.1     Migrated from
                                                       B-(suspended)             IND B-
Hindustan Petroleum Corporation LT Issuer Rating       IND AAA                   Affirmed
Ltd
Hindustan Petroleum Corporation NCDs                   IND AAA          5450     Withdrawn
Ltd
Hindustan Petroleum Corporation NCDs                   IND AAA          9750     Affirmed
Ltd
Hi-Tech Radiators Pvt Ltd       CC limits              IND BB+          118.9    Upgraded from
                                                                                 IND BB
Hi-Tech Radiators Pvt Ltd       Long-TL                Provisional IND  129.14   Assigned
                                                       BB+
Hi-Tech Radiators Pvt Ltd       LT Issuer Rating       IND BB+                   Upgraded from
                                                                                 IND BB
Hi-Tech Radiators Pvt Ltd       Long-TL (reduced from  IND BB+          56.6     Upgraded from
                                INR75.6m)                                        IND BB
Hi-Tech Radiators Pvt Ltd       Usance bills discountedIND BB+          40       Upgraded from
                                                                                 IND BB
Iiert September 2016            Series A PTC           Provisional IND  2511.8   Assigned
                                                       AA(SO)
Jhajjar Power Ltd               NCDs                   IND A+           2230     Assigned
Kst Infrastructure Ltd          LT Issuer Rating       IND                       Withdrawn
                                                       BB-(suspended)
Kst Infrastructure Ltd          TL                     IND              28       Withdrawn
                                                       BB-(suspended)
Kst Infrastructure Ltd          proposed TL            Provisional IND  422      Withdrawn
                                                       BB-(suspended
Kst Infrastructure Ltd          FB limits              IND              100      Withdrawn
                                                       BB-(suspended)
                                                       / IND A4+(suspended)
Kushal Foods Pvt Ltd            LT Issuer Rating       IND BB+                   Affirmed
Kushal Foods Pvt Ltd            TL                     IND BB+          21.2     Assigned
Kushal Foods Pvt Ltd            FB limits              IND BB+ / IND    95       Affirmed
                                                       A4+
Kushal Foods Pvt Ltd            Proposed FB limits     Provisional IND  33.8     Assigned
                                                       BB+ /
                                                       Provisional IND A4+
Marya Frozen Agro Foods Pvt Ltd LT Issuer Rating       IND                       Withdrawn
                                                       BB(suspended)
Marya Frozen Agro Foods Pvt Ltd TL                     IND              80       Withdrawn
                                                       BB(suspended)
Marya Frozen Agro Foods Pvt Ltd FB limits              IND              200      Withdrawn
                                                       BB(suspended) /
                                                       IND A4+(suspended)
Mn Bio-Technology Pvt Ltd       NCDs                   IND BB-(SO)      545      Assigned
Mn Takshila Industries Pvt Ltd  NCDs                   IND BB-(SO)      1675     Assigned
P K Overseas Pvt Ltd            LT Issuer Rating       IND BB                    Assigned
P K Overseas Pvt Ltd            FB WC limits           IND BB / IND A4+ 380      Assigned
P K Overseas Pvt Ltd            Proposed FB WC limits  Provisional IND  170      Assigned
                                                       BB/
                                                       Provisional IND A4+
Rajesh Steel & Wire Industries  LT Issuer Rating       IND                       Migrated from
                                                       BB(suspended)             IND BB
Rajesh Steel & Wire Industries  FB WC limits           IND              50       Migrated from
                                                       BB(suspended)/            IND BB / IND
                                                       IND A4+(suspended)        A4+
Rajesh Steel & Wire Industries  Proposed FB WC limits  Provisional IND  120      Withdrawn
                                                       BB/ Provisional
                                                       IND A4+
Royalline Resources Ltd         LT Issuer Ratings      IND BBB-                  Assigned
Samara Cold Chain               LT Issuer Rating       IND B                     Assigned
Samara Cold Chain               TL                     IND B            188      Assigned
Sec Buildtech Pvt Ltd           LT Issuer Rating       IND                       Withdrawn
                                                       B+(suspended)
Sec Buildtech Pvt Ltd           FB limits              IND              10       Withdrawn
                                                       B+(suspended)/
                                                       IND A4(suspended)
Shakun Gases Pvt Ltd            LT Issuer Rating       IND                       Migrated from
                                                       D B-(suspended)           IND B-
Shakun Gases Pvt Ltd            FB WC limits           IND              40       Migrated from
                                                       D B-(suspended)           IND B-
Sh-Haryana Wires Ltd            FB WC limits           IND              110      Withdrawn
                                                       BB+(suspended)/
                                                       IND A4+(suspended)
Sh-Haryana Wires Ltd            Non-FB WC limits       IND              171.2    Withdrawn
                                                       BB+(suspended)/
                                                       IND A4+(suspended)
Sh-Haryana Wires Ltd            LT Issuer Rating       IND                       Withdrawn
                                                       BB+(suspended)
Sh-Haryana Wires Ltd            TL                     IND              31.6     Withdrawn
                                                       BB+(suspended)
Sidhi Vinayak Cotspin Ltd       LT Issuer Rating       IND                       Withdrawn
                                                       BB(suspended)
Sidhi Vinayak Cotspin Ltd       TL                     IND              1.2      Withdrawn
                                                       BB(suspended)
Sidhi Vinayak Cotspin Ltd       FB limits              IND              65       Withdrawn
                                                       BB(suspended) /
                                                       IND A4+(suspended)
Sincon Infrastructure Pvt Ltd   LT Issuer Rating       IND BB                    Assigned
Sincon Infrastructure Pvt Ltd   FB WC                  IND BB          40        Assigned
Sneha Marketing                 LT Issuer Rating       IND                       Migrated from
                                                       B(suspended)              IND B
Sneha Marketing                 FB WC limits           IND              39.5     Migrated from
                                                       B(suspended)              IND B
T K International Ltd           LT Issuer Rating       IND D(suspended)          Withdrawn
T K International Ltd           FB limits              IND D(suspended) 65.5     Withdrawn
T K International Ltd           Non-FB limits          IND D(suspended) 5        Withdrawn
T K International Ltd           term-loan              IND D(suspended) 54.7     Withdrawn
Tamil Nadu Transmission         11% Series 1 2008-09   IND A(SO)        1400     Affirmed
Corporation Ltd
(reduced from INR2bn)
Tamil Nadu Transmission         8.4% Series 2 2009-10  IND A(SO)        4810     Affirmed
Corporation Ltd
Tamil Nadu Transmission         8.32% Series 3 2009-10 IND A(SO)        2000     Affirmed
Corporation Ltd
Tamil Nadu Transmission         8.64% Series 4 2009-10 IND A(SO)        3190     Affirmed
Corporation Ltd
Tera Software Ltd               LT Issuer Rating       IND BBB-                  Affirmed
Tera Software Ltd               FB WC limits           IND BBB-/ IND A3 430      Affirmed
Tera Software Ltd               Non-FB WC limits       IND BBB-/ IND A3 880      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 Evolve.

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

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