June 1, 2017 / 5:09 AM / 2 months ago

India Ratings for Indian debt instruments – Jun 1

9 Min Read

    Jun 1 (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
May 31, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Gaurav Earthmoving Equipments   Non-FB limit           IND A4+          0.5      Assigned
Pvt Ltd
Shree Jaya Laboratories Pvt Ltd Non-FB WC limits       IND A4+          60       Assigned

LONG TERM RATINGS:
-------------------
Gaurav Earthmoving Equipments   FB limit               IND BB+          185      Assigned
Pvt Ltd
Icici Bank: Indian Rmbs Trust   Series A PTCs          IND AAA(SO)      136.2    Affirmed
Sr Viii
Itd Cementation India Ltd       TL                     IND A-           1000     Affirmed;
                                                                                 Outlook
                                                                                 revised to
Stable from Negative
Itd Cementation India Ltd       FB WC limits           IND A-/ IND A1   8000     Long-term
                                                                                 rating
                                                                                 affirmed;
Outlook revised to Stable from Negative; short-term rating upgraded
Itd Cementation India Ltd       Non-FB WC limits       IND A-/ IND A1   35000    Long-term
                                                                                 rating
                                                                                 affirmed;
Outlook revised to Stable from Negative; short-term rating upgraded
Itd Cementation India Ltd       Project specific       IND A-/ IND A1   7500     Long-term
                                non-FB limits                                    rating
                                                                                 affirmed;
Outlook revised to Stable from Negative; short-term rating upgraded
Itd-Itd Cem Joint Venture       TL                     IND A-(SO)       796      Long-term
                                                                                 rating
                                                                                 affirmed;
Outlook revised to Stable from Negative
Itd-Itd Cem Joint Venture       FB WC limits           IND A-(SO)/ IND  1850     Long-term
                                                       A1(SO)                    rating
                                                                                 affirmed;
Outlook revised to Stable from Negative; Short-term rating upgraded
Itd-Itd Cem Joint Venture       Non-FB WC limits       IND A-(SO)/ IND  2019     Long-term
                                                       A1(SO)                    rating
                                                                                 affirmed;
Outlook revised to Stable from Negative; Short-term rating upgraded
Itd-Itd Cem Joint Venture       Proposed TL            WD               1100     Withdrawn
                                                                                 (company did
                                                                                 not proceed
with the instrument as envisaged)
Krishna Hydro Energy Ltd        Rupee TL               IND BBB(SO)      230.6    Affirmed;
                                                                                 Outlook
                                                                                 revised to
                                                                                 Negative
reduced from 248
Lakshmi Jalavidyut (Krishna) LtdRupee TL               IND BBB(SO)      549.6    Affirmed;
                                                                                 Outlook
                                                                                 revised to
                                                                                 Negative
reduced from 591
Piccadily Agro Industries Ltd.  TL                     IND BBB-         244.7    Affirmed
Piccadily Agro Industries Ltd.  FB Bk Fac              IND BBB- / IND A3700      Affirmed
Piccadily Agro Industries Ltd.  Non-FB Bk Fac          IND BBB- / IND A325       Affirmed
Pioneer Genco Ltd               Rupee TL               IND BBB(SO)      896.5    Affirmed;
                                                                                 Outlook
                                                                                 revised to
                                                                                 Negative
reduced from 964
Pioneer Power Corporation Ltd   Rupee TL               IND BBB(SO)      704.8    Affirmed;
                                                                                 Outlook
                                                                                 revised to
Negative
reduced from 757.9
Shree Jaya Laboratories Pvt Ltd FB WC limits           IND BB+/ IND A4+ 90       Assigned
Srinivasan Charitable &         Bk loans               IND D            2370     Assigned
Educational Trust
Srinivasan Health & Educational Bk loans               IND D            1800     Assigned
Trust
Ultimate Flexipack Ltd          Long-TL                IND BBB+         627.3    Affirmed
increased from 477.0 
Ultimate Flexipack Ltd          FB WC limits           IND BBB+/ IND A2 800      Affirmed
increased from 600
Ultimate Flexipack Ltd          Non-FB WC limits       IND BBB+/ IND A2 465.5    Affirmed
increased from 400

-----------------------------------------------------------------------------------------------
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