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India Ratings for Indian debt instruments - Oct 5
October 5, 2016 / 6:51 AM / in a year

India Ratings for Indian debt instruments - Oct 5

Oct 5 (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, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Arvind Footwears Pvt Ltd        FB limits              IND A3           322.5    Withdrawn
                                                       (suspended)
Arvind Footwears Pvt Ltd        Non-FB limits          IND A3           5        Withdrawn
                                                       (suspended)
Aurobindo Pharma Ltd            CP (CP) programme      IND A1+          5000     Assigned
D Thakkar Constructions Pvt Ltd Non-FB limits          IND A4+          1750     Downgraded
                                                                                 from IND A3
D Thakkar Constructions Pvt Ltd Proposed Non-FB limits Provisional IND  400      Downgraded
                                                       A4+                       from
                                                                                 Provisional IND
A3
East India Technologies Pvt Ltd Non-FB limits          IND A3           135.2    Withdrawn
                                                       (suspended)
Eldeco Housing And Industries   BG                     IND A4           100      Withdrawn
Ltd                                                    (suspended)
Kannappan Textile Mill Pvt. Ltd.Non-FB WC limits       IND A4+          16.2     Upgraded from
                                                                                 IND
                                                                                 A4+(suspended)
Liberty Marketing Company       Non-FB limits          IND A4           30       Withdrawn
                                                       (suspended)
Nk Toll Road Ltd                CP (CP) programme      IND A1+ (SO)     1500     Assigned
R K Enterprise                  Non-FB WC              IND A4+          1        Assigned
Shrinath Rotopack Pvt Ltd       Non-FB limits          IND A2+          63       Affirmed
(increased from INR261.1m)
The Bombay Burmah Trading       Non-FB facility        IND A1+          10       Assigned
Corporation Ltd
The Bombay Burmah Trading       CPs*                   IND A1+          1000     Assigned
Corporation Ltd
*Over and above the existing working capital facility.

LONG TERM RATINGS:
-------------------
Arvind Footwears Pvt Ltd        LT Issuer Rating       IND BBB-                  Withdrawn
                                                       (suspended)
Bajaj Energy Ltd                long-TL                IND A            20550    Affirmed
(outstanding INR15.92bn)
Bajaj Energy Ltd                WC facility (fund      IND A / IND A1   9500     Affirmed /
                                based) *                                         Assigned
*working capital facilities have been split on fund and non-fund based nature
Bajaj Energy Ltd                NFB facility *         IND A / IND A1   570      Affirmed /
                                                                                 Assigned
*working capital facilities have been split on fund and non-fund based nature
Calcutta Electrodes Pvt Ltd     LT Issuer Rating       IND BB-                   Assigned
Calcutta Electrodes Pvt Ltd     FB WC limit            IND BB-          60       Assigned
D Thakkar Constructions Pvt Ltd LT Issuer Rating       IND BB                    Downgraded
                                                                                 from IND BBB-
D Thakkar Constructions Pvt Ltd FB WC limits           IND BB           750      Downgraded
                                                                                 from IND BBB-
Dairy And Agro Industries Ltd   Bk loans               IND BB           485.19   Migrated from
                                                       (suspended)               IND BB
Dairy And Agro Industries Ltd   FB WC Fac              IND BB           80       Migrated from
                                                       (suspended)               IND BB
East India Technologies Pvt Ltd LT Issuer Rating       IND BBB-                  Withdrawn
                                                       (suspended)
East India Technologies Pvt Ltd TL                     IND BBB-         60       Withdrawn
                                                       (suspended)
East India Technologies Pvt Ltd FB limits              IND BBB-         100      Withdrawn
                                                       (suspended)/ IND
                                                       A3 (suspended)
Eldeco Housing And Industries   LT Issuer Rating       IND B+                    Withdrawn
Ltd                                                    (suspended)
Eldeco Housing And Industries   FB WC limits           IND B+           29       Withdrawn
Ltd                                                    (suspended)/ IND
                                                       A4 (suspended)
Happy Acoustics Pvt. Ltd.       LT Issuer Rating       IND BB-                   Withdrawn
                                                       (suspended)
Happy Acoustics Pvt. Ltd.       FB WC limits           IND BB-          250      Withdrawn
                                                       (suspended)/ IND
                                                       A4+ (suspended)
Indian Receivable Trust         Series A1 PTC          Provisional IND  2761.7   Assigned
September 2016 - C                                     AAA (SO)
Indian Receivable Trust         Series A2 PTC          Provisional IND  1705.9   Assigned
September 2016 - C                                     AAA (SO)
Indian Receivable Trust         second loss credit     Provisional IND  355.2    Assigned
September 2016 - C              facility               BBB (SO); 
K.P. Packaging Ltd              LT Issuer Rating       IND D                     Migrated from
                                                       (suspended)               IND D
K.P. Packaging Ltd              FB WC limits           IND D            40       Migrated from
                                                       (suspended)               IND D
K.P. Packaging Ltd              Non-FB WC limits       IND D            50       Migrated from
                                                       (suspended)               IND D
Kannappan Textile Mill Pvt. Ltd.LT Issuer Rating       IND BB                    Upgraded from
                                                                                 IND
                                                                                 BB-(suspended)
Kannappan Textile Mill Pvt. Ltd.FB WC limit            IND BB           35       Upgraded from
                                                                                 IND
                                                                                 BB-(suspended)
Kannappan Textile Mill Pvt. Ltd.TL                     IND BB           18.87    Upgraded from
                                                                                 IND
                                                                                 BB-(suspended)
(reduced from INR53.5m)
Kanpur Packagers Pvt Ltd        LT Issuer Rating       IND BB                    Withdrawn
                                                       (suspended)
Kanpur Packagers Pvt Ltd        Bk loan                IND BB           80       Withdrawn
                                                       (suspended)
Kanpur Packagers Pvt Ltd        FB WC limits           IND BB           29.4     Withdrawn
                                                       (suspended)/IND
                                                       A4+ (suspended)
Kbn Gold & Diamond Jewellery    LT Issuer Rating       IND B-                    Withdrawn
                                                       (suspended)
Kbn Gold & Diamond Jewellery    FB WC limits           IND B-           98       Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
Liberty Marketing Company       FB limits              IND B+           40       Withdrawn
                                                       (suspended)/ IND
                                                       A4 (suspended)
M. P. Agrawal & Company Pvt Ltd LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
M. P. Agrawal & Company Pvt Ltd TL                     IND B+           24.7     Withdrawn
                                                       (suspended)
M. P. Agrawal & Company Pvt Ltd FB limits              IND B+           40       Withdrawn
                                                       (suspended) /
                                                       IND A4 (suspended)
Medics International            LT Issuer Rating       IND B (suspended)         Withdrawn
Lifesciences Ltd
Medics International            TL                     IND B (suspended)1068.4   Withdrawn
Lifesciences Ltd
Mfl Securitisation Trust -      Series A1 PTC          Provisional IND  3854.04  Assigned
XLIII                                                  AA (SO)
Mfl Securitisation Trust -      Series A2 PTCs         Provisional IND  160.58   Assigned
XLIII                                                  AA (SO)
Mfl Securitisation Trust -      liquidity facility     Provisional IND  70.3     Assigned
XLIII                                                  AAA (SO)
Mfl Securitisation Trust -      second loss credit     Provisional IND  333.21   Assigned
XLIII                           facility               BBB (SO)
Mm Trust Jun 16                 Series A PTC           IND AA+ (SO)     1014.5   Assigned
Mumbai International Airport    LT Bk loans            IND A+           42310    Affirmed
Pvt Ltd
Mumbai International Airport    FB limits              IND A+           2500     Affirmed
Pvt Ltd
Mumbai International Airport    Non-FB limits          IND A+           5900     Affirmed
Pvt Ltd
Mumbai International Airport    additional LT Bk loans IND A+           18000    Affirmed
Pvt Ltd
Mumbai International Airport    TL against real estate IND A+ (SO)      6500     Affirmed
Pvt Ltd                         deposits
Mumbai International Airport    LT Bk loan             IND A+ (SO)      26480    Affirmed
Pvt Ltd
(INR22.84bn outstanding as on 30 June 2016) 
Nagarjuna Hydro Energy Pvt Ltd  senior project Bk loansIND BBB          610.3    Upgraded from
                                                                                 IND BBB-
P.K. Jewellery House            LT Issuer Rating       IND B (suspended)         Withdrawn
P.K. Jewellery House            FB WC limits           IND B            100      Withdrawn
                                                       (suspended)/IND
                                                       A4 (suspended)
Paschim Hydro Energy Pvt Ltd    senior project Bk loan IND BBB          330      Upgraded from
                                                                                 IND BBB-
(INR 292.50m outstanding as on 21 September 2016)
R K Enterprise                  LT Issuer Rating       IND BB-                   Assigned
R K Enterprise                  FB WC                  IND BB-          10.5     Assigned
R K Enterprise                  Long-TL                IND BB-          56.26    Assigned
S.P.P Food Products Pvt Ltd     LT Issuer Rating       IND BB+                   Withdrawn
                                                       (suspended)
S.P.P Food Products Pvt Ltd     long-TL                IND BB+          46.6     Withdrawn
                                                       (suspended)
S.P.P Food Products Pvt Ltd     FB limits              IND BB+          100      Withdrawn
                                                       (suspended) /
                                                       IND A4+ (suspended)
S.P.P Food Products Pvt Ltd     Non-FB limits          IND BB+          35       Withdrawn
                                                       (suspended) /
                                                       IND A4+ (suspended)
Shakti India                    LT Issuer Rating       IND B+                    Withdrawn
                                                       (suspended)
Shakti India                    TL                     IND B+           8.54     Withdrawn
                                                       (suspended)
Shakti India                    FB limits              IND B+           40       Withdrawn
                                                       (suspended)/
                                                       IND A4 (suspended)
Shree Ashtvinayak Roller Flour  LT Issuer Rating       IND D                     Assigned
Mills Pvt Ltd
Shree Ashtvinayak Roller Flour  FB limits              IND D            50       Assigned
Mills Pvt Ltd
Shree Ashtvinayak Roller Flour  TL                     IND D            28.5     Assigned
Mills Pvt Ltd
Shrinath Rotopack Pvt Ltd       LT Issuer Rating       IND BBB+                  Affirmed
Shrinath Rotopack Pvt Ltd       TL                     IND BBB+         745      Affirmed
Shrinath Rotopack Pvt Ltd       FB WC limits           IND BBB+ / IND   805      Affirmed
                                                       A2+
(increased from INR605m)
Shrinath Rotopack Pvt Ltd       Proposed TL            Provisional IND  25       Assigned
                                                       BBB+
Shrinath Rotopack Pvt Ltd       Proposed TL            Provisional IND  22       Withdrawn
                                                       BBB+
Shrinath Rotopack Pvt Ltd       Proposed FB WC limits  Provisional IND  75       Assigned
                                                       BBB+/
                                                       Provisional 
                                                       IND A2+
The Bombay Burmah Trading       LT Issuer Rating       IND AA                    Assigned
Corporation Ltd
The Bombay Burmah Trading       term loans             IND AA           800      Assigned
Corporation Ltd
The Bombay Burmah Trading       Working capital Fac    IND AA           490      Assigned
Corporation Ltd
The Bombay Burmah Trading       Proposed NCDs          IND AA           1000     Assigned
Corporation Ltd                                        Provisional
Trichy Tollway Pvt Ltd          Bk loans               IND A+           4880     Withdrawn
Trichy Tollway Pvt Ltd          Bk loans               IND AA-          2808     Assigned
(INR2,746.6m outstanding on 30 September 2016)
Trichy Tollway Pvt Ltd          NCDs                   IND AA-          1750     Assigned
(INR1697.5m outstanding on 30 September 2016)
-----------------------------------------------------------------------------------------------
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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