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India Ratings for Indian debt instruments – Apr 21
April 21, 2017 / 5:03 AM / 5 months ago

India Ratings for Indian debt instruments – Apr 21

   Apr 21 (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 20, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
3G Telecom Infra India Pvt Ltd  Proposed non-FB WC     IND A4           29.6     Migrated to
                                limits                                           Non -
                                                                                 Cooperating
                                                                                 Category
3G Telecom Infra India Pvt Ltd  Non-FB WC limits       IND A4           30.4     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Barmalt Malting (I) Pvt Ltd     Fund- and non-FB WC    IND A1           1330     Affirmed
                                limits
Magadh Construction Works       Non-FB Limits          IND A4+          80       Assigned
Mahalakshmi Infraprojects Ltd   Non-FB limit           IND A3           1100     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Minitek System (I) Pvt Ltd      Non-FB limit           IND A4           12.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Muzaffarpur Vidyut Vitaran Ltd  Non-FB WC facility     IND A3           415.4    Downgraded
Sasi Anand Spinning Mills (I)   Non-FB limit           IND A3           11.5     Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Savita Construction Pvt Ltd     Non-FB limit           IND A4           100      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category

LONG TERM RATINGS:
-------------------
Sultanpur Nagar Palika          LT Issuer Rating       IND BB-                   Assigned
Parishad
3G Telecom Infra India Pvt Ltd  FB WC limits           IND B+ / IND A4  30       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
3G Telecom Infra India Pvt Ltd  Proposed FB WC limits  IND B+ / IND A4  10       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Anantnath Silk Mills Pvt Ltd    TL                     IND BB+          40.1     Affirmed
Anantnath Silk Mills Pvt Ltd    FB limit               IND BB+ /IND A4+ 231.3    Affirmed
Arka Carbon Fuels Pvt. Ltd      Proposed Bk Fac        IND BBB / IND    200      Migrated to
                                                       A3+                       Non -
                                                                                 Cooperating
                                                                                 Category
Arka Carbon Fuels Pvt. Ltd      FB WC Fac              IND BBB /IND A3+ 100      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Arka Carbon Fuels Pvt. Ltd      Non-FB WC Fac          IND BBB /IND A3+ 1000     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
B.A.S.S. Minerals India Pvt Ltd FB WC limits           IND B+ /IND A4   40       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
B.A.S.S. Minerals India Pvt Ltd Non-FB WC limits       IND B+ /IND A4   10       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Barmalt Malting (I) Pvt Ltd     TL                     IND A            48.3     Affirmed
Barmalt Malting (I) Pvt Ltd     Fund- and non-FB WC    IND A            1330     Upgraded
                                limits
Emami Power Ltd                 Rupee TL               IND A-(SO)       1430     Assigned
Hdfc Da December 2010 – II      Second Loss Credit     IND A+ (SO)      59.2     Affirmed
                                Facility (SLCF)
Hdfc Da December 2010 – II      Purchaser Payouts      IND AAA(SO)      473.3    Affirmed
Kalyanpur Cements Ltd           Zero-coupon NCDs       IND C            794.6    Affirmed and
                                                                                 Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
Krishna Bhagya Jala Nigam Ltd   Bond                   IND AA-(SO)      5016     Affirmed
Krishna Bhagya Jala Nigam Ltd   Bond                   IND AA-(SO)      2484     Affirmed
Krishna Bhagya Jala Nigam Ltd   Bond                   IND AA-(SO)      5120     Affirmed
Krishna Bhagya Jala Nigam Ltd   Bond                   IND AA-(SO)      6445     Affirmed
Magadh Construction Works       FB limit               IND BB-          10       Assigned
Mahalakshmi Infraprojects Ltd   Long-TL                IND BBB-         31.7     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Mahalakshmi Infraprojects Ltd   FB limit               IND BBB-         660      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Minitek System (I) Pvt Ltd      Non-FB limit           IND B+ / IND A4  30.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Minitek System (I) Pvt Ltd      FB limit               IND B+ / IND A4  35       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Muzaffarpur Vidyut Vitaran Ltd  TL                     IND BBB-         732.6    Downgraded
                                                                                 from IND BBB
Muzaffarpur Vidyut Vitaran Ltd  FB WC facility         IND BBB-         100      Downgraded
                                                                                 from IND BBB
Pvn Tex Industries              FB WC limits (LT)      IND D            120      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Pvn Tex Industries              TL (LT)                IND D            13.3     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Pvn Tex Industries              Non-FB WC limits (ST)  IND D            60       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Royale Manor Hotels And         TL                     IND BB           9.28     Assigned
Industries Ltd 
Royale Manor Hotels And         FB limit               IND              79.55    Assigned
Industries Ltd                                         BB/IND A4+
Sansar Trust March 2016 V       Second loss credit     IND A-(SO)       311.25   Affirmed
                                facility (SLCF)
Sansar Trust March 2016 V       Series A pass-through  IND AAA(SO)      2527.8   Affirmed
                                certificates (PTCs)
Sasi Anand Spinning Mills (I)   TL                     IND BBB-         150      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Sasi Anand Spinning Mills (I)   FB limit               IND BBB-         180      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Savita Construction Pvt Ltd     TL                     IND B-           3.9      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Savita Construction Pvt Ltd     FB limit               IND B-           60       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Shree Ganpatlal Onkarlal        WC loans               IND BBB- /IND A3 180      Migrated to
Agrawal & Company                                                                Non -
                                                                                 Cooperating
                                                                                 Category
Swastik Coal Corporation Pvt.   Proposed Bk Fac        IND BBB / IND    290      Migrated to
Ltd                                                    A3+                       Non -
                                                                                 Cooperating
                                                                                 Category
Swastik Coal Corporation Pvt.   FB WC Fac              IND BBB / IND A3+ 425     Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Swastik Coal Corporation Pvt.   Non-FB WC Fac          IND BBB / IND A3+ 3035    Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Theiva Exim                     FB WC limits           IND B/IND        90       Assigned
                                                       A4
Vismit Infrastructure           TL                     IND B+           120      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
VRS Foods Ltd                   Proposed TL            IND A-           650      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
VRS Foods Ltd                   TL                     IND A-           442.9    Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
VRS Foods Ltd                   FB WC limit            IND A- /IND A2+  3820     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)

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