March 23, 2017 / 5:48 AM / 6 months ago

India Ratings for Indian debt instruments – Mar 23

    Mar 23 (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
March 22, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------    ---------
SHORT TERM RATINGS:
-------------------
Capacite Engineering Pvt Ltd    Non-FB Fac             IND A2+(SO)      70       Assigned
Ideas Engineers (Ideas)         Non-FB WC limits       IND A4+          75       Assigned
Ideas Engineers (Ideas)         Proposed non-FB WC     Provisional IND  55       Assigned
                                limits*                A4+
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by Ideas to the satisfaction of Ind-Ra.
Liberty Oil Mills Ltd           Non-FB limits          IND A2           8640     Affirmed
Niit Ltd                        CP (carved out of FB   IND A1+          340      Affirmed
                                Bk lines)
Niit Ltd                        ST debt                IND A1+          400      Affirmed
Nomura Capital (I) Pvt Ltd      ST debt (CP)           IND A1+          1500     Affirmed
Nomura Capital (I) Pvt Ltd      ST debt (CP)^          IND A1+          3500     Affirmed
^ Yet to be issued
Nomura Fixed Income Securities  ST debt (CP) *         IND A1+          5000     Affirmed
Pvt Ltd
* Yet to be issued
Rungta Irrigation Ltd           Non-FB limits          IND A4+          80       Assigned
Saviton Metplast Pvt Ltd        Non-FB WC limit        IND A4           24.65    Assigned
Shreem Electric Ltd             Non-FB WC Fac          IND A2+          6860     Placed on
                                                                                 Notice of
                                                                                 Withdrawal
LONG TERM RATINGS:
-------------------
Dbl Mundargi Harapanahalli      Rupee TL               IND BBB          850      Assigned
Tollways Ltd
Capacite Engineering Pvt Ltd    FB CC Fac              IND A-(SO)/IND   67.5     Assigned
                                                       A2+(SO)
Dbl Hirekerur Ranibennur        TL                     IND BBB          960      Assigned
Tollways Ltd
Ezra Sbl Ifmr Capital 2017      Series A2 PTCs         Provisional IND  3.26     Assigned
                                                       BB+(SO)
Ezra Sbl Ifmr Capital 2017      Series A1 pass-through Provisional IND  150      Assigned
                                certificates (PTCs)    BBB+(SO)
Ideas Engineers (Ideas)         FB WC limits           IND BB+ /IND A4+ 50       Assigned
Jp Motor Pvt Ltd                FB limit               IND BB           91       Assigned
Jp Motor Pvt Ltd                TL                     IND BB           9        Assigned
Liberty Oil Mills Ltd           FB limits              IND BBB /IND A2  1600     Affirmed
Niit Ltd                        LT debt                -                700      Withdrawn
Niit Ltd                        FB Bk Fac              IND AA- /IND A1+ 614      Affirmed
Niit Ltd                        Non-FB Bk Fac          IND AA- /IND A1+ 668      Affirmed
Niit Ltd                        Proposed non-FB Bk     Provisional IND  1100     Assigned
                                limits*                AA- /Provisional
                                                       IND A1+
* The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facilities by NIIT to the satisfaction of Ind-Ra.
Nomura Capital (I) Pvt Ltd      Principal protected    IND PP-MLD AAAemr30.5*    Affirmed
                                equity- linked notes
*The outstanding amount is INR91 million (reduced from INR100 million), which is the total of
INR30.5 million and INR60.5 million as mentioned above.
Nomura Capital (I) Pvt Ltd      Principal protected    IND PP-MLD AAAemr60.5*    Affirmed
                                equity- linked notes
*The outstanding amount is INR91 million (reduced from INR100 million), which is the total of
INR30.5 million and INR60.5 million as mentioned above.
Nomura Capital (I) Pvt Ltd      Principal protected    IND PP-MLD AAAemr3500     Affirmed
                                equity-linked
                                debentures^
^ Yet to be issued
Punjab State Transmission       WC facility            IND BBB-         2000     Assigned
Corporation Ltd
Punjab State Transmission       TL                     IND BBB (SO)     440      Assigned
Corporation Ltd
Punjab State Transmission       TL                     IND BBB (SO)     968.8    Assigned
Corporation Ltd
Punjab State Transmission       TL                     IND BBB (SO)     2500     Assigned
Corporation Ltd
Rungta Irrigation Ltd           FB limits              IND BB- /IND A4+ 140      Assigned
Saviton Metplast Pvt Ltd        TL                     IND B+           18.35    Assigned
Saviton Metplast Pvt Ltd        FB WC limit            IND B+ /IND A4   37       Assigned
Shreem Electric Ltd             Fund based WC Fac      IND A-           2650     Placed on
                                                                                 Notice of
                                                                                 Withdrawal
Shreem Electric Ltd             TL                     IND A-           61.6     Placed on
                                                                                 Notice of
                                                                                 Withdrawal
-----------------------------------------------------------------------------------------------
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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