October 3, 2016 / 9:16 AM / a year ago

India Ratings for Indian debt instruments - Oct 3

Oct 3 (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 30, 2016.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
JCL Infra Ltd                   Non-FB BG              IND A4           240      Withdrawn
                                                       (suspended)
Jubilant Generics Ltd           NFB WC limits          IND A1+          2500     Affirmed
Jubilant Generics Ltd           ST debt/CP programme * IND A1+          1500     Assigned
(carved out of the fund-based working capital limits)
Jubilant Generics Ltd           ST debt/CP programme * IND A1+          1000     Withdrawn
(carved out of the fund-based working capital limits)
Jubilant Life Sciences Ltd      NFB WC limits          IND A1+          8000     Affirmed
(reduced from INR9,750m)
Jubilant Life Sciences Ltd      ST debt/CP programme * IND A1+          4500     Assigned
(carved out of fund-based working capital limits)
Mahindra Sanyo Special Steel    Non-FB limits          IND A2+          2400     Affirmed
Pvt Ltd
Olive Tex Silk Mills Pvt Ltd    Non-FB Fac             IND A4+          22.5     Affirmed
Premier Metcast Pvt Ltd         Non-FB limits          IND A4+          15       Withdrawn
                                                       (suspended)
Premier Metcast Pvt Ltd         Proposed Non-FB limits Provisional IND  10       Withdrawn
                                                       A4+ (suspended)
Sterlite Power Grid Ventures LtdCP programme *         IND A1           1000     Affirmed
* (carved out of the working capital bank lines)
Touch Tone Teleservices         Non-FB Fac             IND A4+          60       Upgraded from
                                                                                 IND A4

LONG TERM RATINGS:
-------------------
Aavishkaar Sep 2016 Trust       Series A1 PTC          Provisional      350.1    Assigned
                                                       IND A- (SO)
Aavishkaar Sep 2016 Trust       second loss credit     Provisional      21       Assigned
                                facility               IND BB (SO)
Alliance Industrial Marketing   LT Issuer Rating       IND BB                    Withdrawn
                                                       (suspended)
Alliance Industrial Marketing   FB WC limits           IND BB           108      Withdrawn
                                                       (suspended)/ IND
                                                       A4+ (suspended)
Deepak Cotton Factory           FB WC limits           IND B            100      Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
Deepak Cotton Factory           LT Issuer Rating       IND B (suspended)         Withdrawn
Hotel Jayapushpam Pvt Ltd       LT Issuer Rating       IND BB                    Affirmed
Hotel Jayapushpam Pvt Ltd       Long-TL                IND BB           84.6     Affirmed
(reduced from INR120.9m) 
India Standard Loan Trust -     liquidity facility     Provisional      7.54     Assigned
XXXVI                                                  IND AAA (SO)
India Standard Loan Trust -     Series A1 PTC          Provisional      264.22   Assigned
XXXVI                                                  IND AAA (SO)
India Standard Loan Trust -     Series A2 PTC          Provisional      490.1    Assigned
XXXVI                                                  IND AAA (SO)
India Standard Loan Trust -     second loss credit     Provisional      50.92    Assigned
XXXVI                           facility               IND BBB (SO)
JCL Infra Ltd                   LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
JCL Infra Ltd                   FB WC limits           IND B+           65       Withdrawn
                                                       (suspended) /
                                                       IND A4 (suspended)
Jubilant Generics Ltd           LT Issuer Rating       IND AA-                   Upgraded from
                                                                                 IND A+
Jubilant Generics Ltd           LT Bk loan             IND AA-/IND A+   5300     Upgraded from
                                                                                 IND A+/
                                                                                 Affirmed
(increased from INR4,300m)
Jubilant Generics Ltd           FB WC limits           IND AA-/IND A+   2500     Upgraded from
                                                                                 IND A+ /
                                                                                 Affirmed
Jubilant Life Sciences Ltd      LT Issuer Rating       IND AA-                   Upgraded from
                                                                                 IND A+
Jubilant Life Sciences Ltd      LT Bk loan             IND AA-          12050    Upgraded from
                                                                                 IND A+
(increased from INR10,800m) 
Jubilant Life Sciences Ltd      FB WC limits           IND AA-/IND A1+  5500     Upgraded from
                                                                                 IND A+ /
                                                                                 Affirmed
K.C. Edible Oils Pvt Ltd        LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
K.C. Edible Oils Pvt Ltd        FB limits              IND B+           90       Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
K.C. Edible Oils Pvt Ltd        Proposed FB limits     Provisional IND  35       Withdrawn
                                                       B+ (suspended)/
                                                       Provisional IND A4 
                                                       (suspended)
K.C. Roller Flour Mills (P) Ltd LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
K.C. Roller Flour Mills (P) Ltd FB limits              IND B+           90       Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
K.C. Roller Flour Mills (P) Ltd FB limits              Provisional IND  9        Withdrawn
                                                       B+ (suspended)/
                                                       Provisional IND A4
                                                       (suspended)
K.S.M. Bashir Mohammad & Sons   LT Issuer Rating       IND BB-                   Withdrawn
                                                       (suspended)
K.S.M. Bashir Mohammad & Sons   TL                     IND BB-          11       Withdrawn
                                                       (suspended)
K.S.M. Bashir Mohammad & Sons   FB limits              IND BB-          77       Withdrawn
                                                       (suspended)/ IND
                                                       A4+ (suspended)
Mahindra Sanyo Special Steel    LT Issuer Rating       IND BBB+                  Affirmed
Pvt Ltd
Mahindra Sanyo Special Steel    LT loans               IND BBB+         820      Affirmed
Pvt Ltd
Mahindra Sanyo Special Steel    FB WC limits           IND BBB+ / IND   1330     Affirmed
Pvt Ltd                                                A2+
Olive Tex Silk Mills Pvt Ltd    LT Issuer Rating       IND BB                    Affirmed
Olive Tex Silk Mills Pvt Ltd    long-TL                IND BB           12.8     Affirmed
(reduced from INR27.5m) 
Olive Tex Silk Mills Pvt Ltd    FB Fac                 IND BB / IND A4+ 343.4    Affirmed
(increased from INR270m)
Premier Metcast Pvt Ltd         LT Issuer Rating       IND BB                    Withdrawn
                                                       (suspended)
Premier Metcast Pvt Ltd         FB limits              IND BB           110      Withdrawn
                                                       (suspended)/ IND
                                                       A4+ (suspended)
Premier Metcast Pvt Ltd         Proposed FB limit      Provisional IND  65       Withdrawn
                                                       BB (suspended)/
                                                       Provisional IND A4+ 
                                                       (suspended)
Ratan Seeds Pvt Ltd             LT Issuer Rating       IND B (suspended)         Withdrawn
Ratan Seeds Pvt Ltd             FB WC limits           IND B            50       Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
SDU Beverages Pvt Ltd           LT Issuer Rating       IND D                     Assigned
SDU Beverages Pvt Ltd           long-TL                IND D            210      Assigned
SJVN Ltd                        LT Issuer Rating       IND AA+                   Affirmed
SJVN Ltd                        TL                     IND AA+          3445     Affirmed
(reduced from INR4,000m)
Sterlite Power Grid Ventures LtdLT Issuer Rating       IND A                     Upgraded from
                                                                                 IND A-
Sterlite Power Grid Ventures LtdNon-FB WC Fac          IND A / IND A1   4000     Upgraded from
                                                                                 IND A-
Sterlite Power Grid Ventures LtdFB WC Fac              IND A / IND A1   5000     Upgraded from
                                                                                 IND A- / IND A1
The Tiger Camp                  LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
The Tiger Camp                  TL                     IND B+           67.5     Withdrawn
                                                       (suspended)
The Tiger Camp                  FB limits              IND B+           2.5      Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
Touch Tone Teleservices         LT Issuer Rating       IND BB-                   Upgraded from
                                                                                 IND B+
Touch Tone Teleservices         FB WC Fac              IND BB-          60       Upgraded from
                                                                                 IND B+
(increased from INR50m)
-----------------------------------------------------------------------------------------------
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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