April 20, 2017 / 5:32 AM / 3 months ago

India Ratings for Indian debt instruments – Apr 20

7 Min Read

    Apr 20 (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 19, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Gupta Machine Tools Pvt Ltd     Non-FB WC facility     IND A2+          260      Assigned
Jayantisuper Construction Pvt   Non-FB limits          IND A3           630      Assigned
Ltd
Orix Auto Infrastructure        Non-FBL                IND A1+          100      Affirmed
Services Ltd
Orix Auto Infrastructure        Short-TL               IND A1+          1050     Affirmed
Services Ltd
(increased from 400)
Surana Meta Cast (I) Pvt Ltd    Non-FB limits          IND A4           25.5     Assigned
Xl Enterprises Ltd              FB limit               IND A4+          60       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Alchemist Hospitals Ltd         Proposed long-TL       IND BB+          311.5    Provisional

LONG TERM RATINGS:
-------------------
City Corporation Ltd            FB WC limit            WD               710      Withdrawn
City Corporation Ltd            TL                     WD               110      Withdrawn
City Corporation Ltd            Proposed TL            WD               400      Withdrawn
Dreisatz Mysolar24 Pvt Ltd      Senior project Bk loan WD               502.3    Withdrawn
                                1
Dreisatz Mysolar24 Pvt Ltd      Senior project Bk loan WD               370      Withdrawn
                                2                                                (paid in full)
Gupta Machine Tools Pvt Ltd     FB WC facility         IND A-/ IND A2+  270      Assigned
Hearts Malabar Clinical         Long-TL                IND B            100      Assigned
Solution Pvt Ltd
Jayantisuper Construction Pvt   FB limits              IND BBB-         40       Assigned
Ltd
Mahindra Rural Housing Finance  NCDs*                  IND AA+          3        Assigned
Ltd
*Yet to be issued
Mi Mysolar24 Pvt Ltd            Senior project Bk loan WD               502.3    Withdrawn
                                1
Mi Mysolar24 Pvt Ltd            Senior project Bk loan WD               370      Withdrawn
                                2
Orix Auto Infrastructure        TL                     IND AAA          7550     Affirmed
Services Ltd
(increased from 3,856)
Orix Auto Infrastructure        FB limits              IND AAA/ IND A1+ 2950     Affirmed
Services Ltd
(increased from 2,200)
Orix Leasing & Financial        NCDs (NCDs)            IND AAA          4000     Assigned
Services India Ltd
Orix Leasing & Financial        NCDs                   IND AAA          3200     Affirmed
Services India Ltd
Orix Leasing & Financial        Bk loans               IND AAA          8800     Affirmed
Services India Ltd
(increased from 7,700)
Premier Seafoods Exim Pvt Ltd   FB Fac                 IND BB+/ IND A4+ 102      Assigned
Shree Radha Krishna Vinimay Pvt FB limits              IND BB-          25       Assigned
Ltd
Solapur Municipal Corporation   LT Issuer Rating       IND BBB-                  Assigned
Surana Meta Cast (I) Pvt Ltd    TL                     IND B            103.6    Assigned
Surana Meta Cast (I) Pvt Ltd    FB limits              IND B            25       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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