June 5, 2017 / 3:56 AM / 4 months ago

India Ratings for Indian debt instruments – Jun 5

    Jun 5 (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
June 2, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Bmw Enterprises                 Non-FBL                IND A4+          20       Affirmed
Ctm Textile Mills               Non-FB limit           IND A3           30       Assigned
Dishman Carbogen Amcis Ltd      Non-FB limits          IND A1+          340.3    Assigned
Dishman Carbogen Amcis Ltd      CP (CP)                IND A1+          170      Assigned
Dishman Carbogen Amcis Ltd      CP (carved out of FBL) IND A1+          330      Assigned
Megasoft Ltd                    Non-FB limit           IND A4           70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shaarc Projects Ltd             Non-FB limits          IND A4+          50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Bharatpur Municipal Corporation LT Issuer Rating       IND BBB-                  Assigned
Bmw Enterprises                 FB limits              IND BB           420      Affirmed
Ctm Textile Mills               FB limit               IND BBB-         125      Assigned
Ctm Textile Mills               TL                     IND BBB-         228.56   Assigned
Ctm Textile Mills               Proposed TL            IND BBB-         75       Provisional
Ctm Textile Mills               Proposed FB limit      IND BBB-         10       Provisional
Daron Engineering Pvt Ltd       TL (LT )               IND D            59.4     Downgraded
(increased from 35)
Daron Engineering Pvt Ltd       FB Fac (LT/ ST)        IND D/ IND D     20       Downgraded
Dishman Carbogen Amcis Ltd      TL                     IND A+           1628.4   Assigned
Dishman Carbogen Amcis Ltd      FB limits              IND A+/ IND A1+  3679     Assigned
Dishman Pharmaceuticals And     FB limits              WD               3679     Withdrawn
Chemicals Ltd
Dishman Pharmaceuticals And     Non-FB limits          WD               340.3    Withdrawn
Chemicals Ltd
Dishman Pharmaceuticals And     CP (CP)                WD               500      Withdrawn
Chemicals Ltd
Dishman Pharmaceuticals And     TL                     WD               1628.4   Withdrawn
Chemicals Ltd
Electronica Finance Ltd         Bk Fac                 IND A-           1750     Assigned
Gangapur City Municipal Council LT Issuer Rating       IND BB+                   Assigned
Global Green Co. Ltd            TL                     IND BBB-(SO)/ RWN30       Placed on RWN
Global Green Co. Ltd            FB Fac                 IND BBB-(SO)/    895      Placed on RWN
                                                       RWN/ IND A3(SO)/
                                                       RWN
Global Green Co. Ltd            Non-FB Fac             IND BBB-(SO)/    100      Placed on RWN
                                                       RWN/ IND A3(SO)/
                                                       RWN
Heritage Lifestyles And         TL                     IND BB           203.7    Migrated to
Developers Pvt. Ltd.                                                             Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Hindaun City Municipal Council  LT Issuer Rating       IND BB                    Assigned
Indian Clearing Corporation Ltd LT Issuer Rating       IND AAA                   Assigned
Joyful Plastics Pvt. Ltd        TL                     IND BB-          15.76    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Joyful Plastics Pvt. Ltd        FB limit               IND BB-/ IND A4+ 49.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Megasoft Ltd                    FB limit               IND B+           150      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Paddington Resorts              TL                     IND B+           87.7     Assigned
Paddington Resorts              FB Fac                 IND B+/ IND A4   2.5      Assigned
Quest Infosys Foundation        TL                     IND B            57       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Quest Infosys Foundation        FB WC                  IND B            40       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shaarc Projects Ltd             FB limits              IND BB/ IND A4+  25       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sree Shanmuga Modern Rice Mills FB WC limits           IND BB/ IND A4+  239.2    Assigned
Pvt Ltd
Strands Textile Mills Pvt. Ltd. FB limit               IND BB           47.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Tata Marcopolo Motors Ltd       FB WC Bk facility      IND A+           2650     Upgraded
Tata Marcopolo Motors Ltd       Non-FB WC Bk facility  IND A+/ IND A1+  600      Upgraded
Tata Marcopolo Motors Ltd       TL                     WD               1784.2   Withdrawn
                                                                                 (repaid in
                                                                                 full)
Vedanta Ltd                     NCDs (NCDs)*           IND AA           57       Rating
                                                                                 Affirmed;
Vedanta Ltd                     Project finance Fac    IND AA           5        Rating
                                                                                 Affirmed;
Vedanta Ltd                     TL                     IND AA           46.2     Rating
                                                                                 Affirmed;
(reduced from INR50)
Yazdani Steel & Power Ltd       TL (LT)                IND D            434.9    Assigned
Yazdani Steel & Power Ltd       FB limit (LT)          IND D            180      Assigned
Yazdani Steel & Power Ltd       Non-FB limit (ST)      IND D            75.1     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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