April 18, 2017 / 6:18 AM / 4 months ago

India Ratings for Indian debt instruments – Apr 18

   Apr 18 (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
April 17, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------   ---------
SHORT TERM RATINGS:
-------------------
Anshuman Trading Pvt Ltd        Proposed non-FB limit  Provisional IND  200      Assigned
                                                       A4
Bvg India Ltd                   CP*                    IND A1           500      Assigned
*The CP will be carved out of BVGs fund-based working capital limits.
Dishman Pharmaceuticals And     Non-FB limits          IND A1+          340.3    Upgraded
Chemicals Ltd
Dishman Pharmaceuticals And     CP                     IND A1+          500      Upgraded
Chemicals Ltd
Hdfc Bank Ltd                   CD                     IND A1+                   Assigned
Mansha Builders & Contractors   Non-FB limits          IND A4+          60       Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating 
                                                                                 Category
Patiala Cotspin Ltd             Non-FB limits          IND A4+          14.2     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
R V Plastic Ltd                 Non-FB BG              IND A4           70       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Rewinder Techno Electrical      Non-FB limits          IND A4+          20       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
RPG Industrial Product Pvt Ltd  Non-FB limit           IND A4+          15       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
RR Kabel Ltd                    Non-FB WC limits       IND A2+          300      Affirmed
TP Buildtech Pvt Ltd            Non-FB limits          IND A4           50       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Yadav Tractor Company           Letter of guarantee    IND A4           30       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category

LONG TERM RATINGS:
-------------------
Abhirama Steels Ltd             TL Fac                 IND BBB-         16.2     Affirmed
Abhirama Steels Ltd             FB WC facility         IND BBB-/IND A3  400      Affirmed
Abhirama Steels Ltd             *Proposed FB WC        Provisional IND  200      Assigned
                                facility               BBB-/Provisional
                                                       IND A3
*The rating is provisional and shall be confirmed upon the sanction and execution
 of loan documents for the above facilities by ASL to the satisfaction of Ind-Ra.
Anshuman Trading Pvt Ltd        Proposed FB WC limit   Provisional IND  50       Assigned
                                                       B+/Provisional
                                                       IND A4
Bahraich Nagar Palika Parishad  LT Issuer Rating       IND BB                    Assigned
Dishman Pharmaceuticals And     TL                     IND A+           1628.4   Upgraded
Chemicals Ltd
Dishman Pharmaceuticals And     FB limits              IND A+/IND A1+   3679     Upgraded
Chemicals Ltd
Dishman Pharmaceuticals And     NCDs                                    225      Withdrawn 
Chemicals Ltd
Donatello Ifmr Capital 2017     PTC (PTCs)-Series A1   IND A(SO)        220.4    Assigned
Donatello Ifmr Capital 2017     PTCs-Series A2         IND BB+(SO)      12       Assigned
Gland Pharma Ltd                FB WC                  IND AA-/IND A1+  1000     Affirmed
Gland Pharma Ltd                Non-FB WC              IND AA-/IND A1+  1200     Affirmed
Gland Pharma Ltd                TL                                      2000     Withdrawn
Mansha Builders & Contractors   FB WC limits           IND BB- /IND A4+ 40       Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating 
                                                                                 Category
Orbit Electro Equipments Pvt    FBL                    IND BB/IND A4+   127.5    Affirmed
Ltd
Patiala Cotspin Ltd             TL                     IND BB+          232.31   Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Patiala Cotspin Ltd             FB limits              IND BB+ / IND A4+70       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Patiala Cotspin Ltd             Proposed TL            Provisional IND  45       Migrated to
                                                       BB+                       Non -
                                                                                 Cooperating 
                                                                                 Category
Patiala Cotspin Ltd             Proposed FB limits     Provisional IND  10       Migrated to
                                                       BB+                       Non -
                                                                                 Cooperating 
                                                                                 Category
R V Plastic Ltd                 FB limits              IND B+           100      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Rewinder Techno Electrical      FB WC limits           IND BB- /IND A4+ 35       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Rpg Industrial Product Pvt Ltd  FB limit               IND BB+          150      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Rpg Industrial Product Pvt Ltd  TL                     IND BB+          240      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
RR Kabel Ltd                    FB WC limits           IND A-           2800     Affirmed;
                                                                                 Outlook
                                                                                 revised 
                                                                                 to 
                                                                                 Positive
RR Kabel Ltd                    TL                     IND A-           137.6    Affirmed;
                                                                                 Outlook
                                                                                 revised 
                                                                                 to 
                                                                                 Positive
RR Kabel Ltd                    External commercial    IND A-           127.5    Affirmed;
                                borrowings                                       Outlook
                                                                                 revised 
                                                                                 to 
                                                                                 Positive
RR Kabel Ltd                    Proposed FB WC limits* Provisional IND  540      Assigned
                                                       A-
 * The ratings are provisional and shall be confirmed upon the sanction and
 execution of loan documents for the above facilities by RRKL
Rr Kabel Ltd                    Proposed TL*           Provisional IND  600      Assigned
                                                       A-
 * The ratings are provisional and shall be confirmed upon the sanction and 
execution of loan documents for the above facilities by RRKL
Rr Kabel Ltd                    Proposed FB WC limits                   367.5    Withdrawn
(company did not proceed with the instrumentas envisaged)
Sangotra Fashions Pvt Ltd       FB limits              IND BB+          70       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Talwandi Sabo Power Ltd         FB limits              IND A+           5        Assigned
Tata Power Renewable Energy Ltd LT Issuer Rating       IND A+                    Assigned
Tp Buildtech Pvt Ltd            FB limits              IND B+ /IND A4   40       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Yadav Tractor Company           CC                     IND B+ /IND A4   24.3     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
-----------------------------------------------------------------------------------------------
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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below