September 30, 2016 / 5:26 AM / 10 months ago

India Ratings for Indian debt instruments - Sep 30

6 Min Read

Sep 30 (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 29, 2016.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Ark Builders                    Non- FB Fac            IND A4+          15       Assigned
Kumaragiri Spinnerss Pvt Ltd    FB Fac                 IND A3           65       Assigned
Nahar Textiles Pvt Ltd          Non-FB limit           IND A4+          50       Affirmed
Religare Enterprises Ltd        ST debt                IND A1+          7000     Assigned

LONG TERM RATINGS:
-------------------
Ark Builders                    Long-TL                IND B+           51       Assigned
Ark Builders                    FB Fac                 IND B+ / IND A4  37.5     Assigned
Energon Rj Wind Power Pvt Ltd   Senior secured project IND A-           3640     Assigned
                                Bk loan
Kumaragiri Spinnerss Pvt Ltd    Long-TL                IND BBB-         354.38   Affirmed
(reduced from INR404.3m)
Kumaragiri Spinnerss Pvt Ltd    FB Fac                 IND BBB- / IND A3185      Affirmed
 (Increased from INR120m)
Kumaragiri Spinnerss Pvt Ltd    Non-FB Fac             IND BBB- / IND A37.9      Assigned
 (reduced from INR9.8m)
Meghalaya Energy Corporation    Non-convertible bond   IND BBB+(SO)     1200     Withdrawn
Ltd'S                           issuances
 (Option I: INR75m and Option II: INR1,125m)
Meghalaya Power Generation      LT unsecured           IND BBB+(SO)     1200     Withdrawn
Corporation Ltd.'S              Non-convertible bond
                                issuances
Nahar Textiles Pvt Ltd          FB WC limits           IND BB           115      Upgraded from
                                                                                 IND BB-
Platinum Trust August 2016 -    Series A PTC           IND AAA(SO)      2420.3   Assigned
Tranche Ii
Platinum Trust August 2016 -    Second loss credit     IND BBB(SO)      127.1    Assigned
Tranche Ii                      facility
Platinum Trust September 2016 - Series A PTC           IND AAA(SO)      2511.7   Assigned
Tranche Ii
Platinum Trust September 2016 - Second loss credit     IND BBB(SO)      125.6    Assigned
Tranche Ii                      facility
Privilege Trust Series - 9      Series B PTCs          IND AA-(SO)      8.4      Affirmed
Privilege Trust Series - 9      Series A PTC           IND AAA(SO)      160.3    Affirmed
Religare Enterprises Ltd        Senior, secured NCDs   IND AA-          1760     Assigned
(reduced from INR4.48bn)
Religare Enterprises Ltd        senior, secured NCDs   IND AA-          7000     Assigned
Sidhhartha Corporation Pvt Ltd  FB limits              IND A-           810      Assigned
-----------------------------------------------------------------------------------------------
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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