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India Ratings for Indian debt instruments – Apr 19
April 19, 2017 / 6:05 AM / 5 months ago

India Ratings for Indian debt instruments – Apr 19

    Apr 19 (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 18, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------    ---------
SHORT TERM RATINGS:
-------------------
Champion Rolling Mill Pvt Ltd   Non-FB limits          IND A4+          140      Affirmed
K Seshagiri Rao & Co            Non-FB WC limits       IND A4+          30       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
K Seshagiri Rao & Co            Proposed non-FB WC     Provisional IND  40       Migrated to
                                limit                  A4+                       Non Cooperating
                                                                                 Category
Manchukonda Prakasham           Non-FB limits          IND A2+          130      Migrated to
Industries India Pvt Ltd                                                         Non Cooperating
                                                                                 Category
Sangam Forgings Pvt Ltd         Non-FB limit           IND A4           45       Assigned

LONG TERM RATINGS:
-------------------
Bhima And Brothers Bullion Pvt  TL                     IND BBB          15.11    Affirmed
Ltd
 (reduced from INR24.78)
Bhima And Brothers Bullion Pvt  FB WC facility         IND BBB /IND A3+ 1280     Affirmed
Ltd
(reduced from INR1,300)
Champion Rolling Mill Pvt Ltd   Long-TL                IND BB+          23.4     Affirmed
(decreased from INR49.95)
Champion Rolling Mill Pvt Ltd   FB limits (CC)         IND BB+          200      Affirmed
City Corporation Ltd            FB WC limit            -                710      Withdrawn
City Corporation Ltd            TL                     -                110      Withdrawn
City Corporation Ltd            Proposed TL            -                400      Withdrawn
J.J. House Pvt Ltd              FB WC limits           IND BBB          99       Upgraded from
                                                                                 IND BBB-
J.J. House Pvt Ltd              Proposed FB WC limits* Provisional IND  36       Upgraded from
                                                       BBB                       Provisional
                                                                                 IND BBB-
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by JJH to the satisfaction of Ind-Ra.
J.M. International              FB limit               IND B+ /IND A4   200      Affirmed
K Seshagiri Rao & Co            FB WC limits           ND BB+ /IND A4+  40       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
K Seshagiri Rao & Co            Proposed FB WC limit   Provisional IND  90       Migrated to
                                                       BB+ /Provisional          Non Cooperating
                                                       IND A4+                   Category
Kothari Prima Pvt Ltd           LT loan                IND B+           160      Assigned
Kothari Prima Pvt Ltd           FB Fac                 IND B+/IND A4    40       Assigned
Magadh Industries Pvt Ltd       FB limits              IND BB           1110     Upgraded from
                                                                                 IND BB-
Magadh Industries Pvt Ltd       Long-TL                IND BB           200      Upgraded from
                                                                                 IND BB-
(reduced from INR230.48)
Magadh Industries Pvt Ltd       Proposed FB WC limits* Provisional IND  410      Upgraded
                                                       BB
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MIND to the satisfaction of Ind-Ra.
Manchukonda Prakasham           FB limits              IND BBB+ /IND A2+120      Migrated to
Industries India Pvt Ltd                                                         Non Cooperating
                                                                                 Category
Penta Gold Ltd                  FB limits              IND BBB- /IND A3 380      Assigned
Sangam Forgings Pvt Ltd         FB limit               IND B            60       Assigned
Southern Petrochemical          Proposed FB WC limits *Provisional IND  5000     Assigned
Industries Corporation Ltd                             BBB-
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the abov
U.P. Power Corporation Ltd      NCDs                   -                5        Withdrawn
U.P. Power Corporation Ltd      NCDs                   IND AA(SO)       34895    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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