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India Ratings for Indian debt instruments – Jun 7
June 7, 2017 / 4:42 AM / 4 months ago

India Ratings for Indian debt instruments – Jun 7

    Jun 7 (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 6, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Ekk Infrastructure Pvt Ltd      Proposed non-FB WC     Provisional IND  1400     Assigned
                                limits*                A2+
*The above ratings are provisional and shall be confirmed upon the sanction and execution of the
loan documents for the above facilities by EKK to the satisfaction of Ind-Ra.    
Rajendrakumar & Co              Non-FB WC limits       IND A4           95       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Shiv Build India Pvt Ltd        Non-FB WC limits       IND A4+          150      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Swastik Ceracon Ltd             Non-FB WC limits       IND A4+          141.5    Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Vallabhaneni Constructions Pvt  Non-FB WC limits       IND A4+          260      Migrated to
Ltd                                                                              Non Cooperating
                                                                                 Category
LONG TERM RATINGS:
-------------------
Deoria Nagar Palika Parishad    LT Issuer Rating       IND BB-          -        Affirmed
Ekk Infrastructure Pvt Ltd      Proposed FB WC limits* Provisional IND  250      Assigned
                                                       BBB+
*The above ratings are provisional and shall be confirmed upon the sanction and execution of the
loan documents for the above facilities by EKK to the satisfaction of Ind-Ra.        
Fatehpur Nagar Palika Parishad  LT Issuer Rating       IND BB-          -        Assigned
M/S Mukti Gold Pvt Ltd          FB Fac                 IND BBB- /IND A3 130      Assigned
Panchshil Corporate Park Pvt LtdProposed NCDs Tranche  Provisional IND  3750     Assigned
                                1*                     AAA(SO)
* The issuer intends to raise two additional tranches (Tranche 2 and Tranche 3) of INR500
million each, taking the total size to INR4,750.0 million. These two NCDs will be secured by the
same set of assets (Tower A and Tower B) and will have a pari passu charge on all charged
accounts. Ind-Ra has analysed the transaction considering a total issuance of INR 4,750.0
million. The rating will be reviewed at the time of the issuance and the rating of these
additional tranches.
Rajendrakumar & Co              CC limits              IND B+           25       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Satia Industries Ltd            TL                     IND BBB          1416     Affirmed
increased from INR1,411.5)
Satia Industries Ltd            FB Bk Fac              IND BBB /IND A3+ 850      Affirmed
Satia Industries Ltd            Non-FB Bk Fac          IND BBB /IND A3+ 460      Affirmed
Shiv Build India Pvt Ltd        FB WC limits           IND BB+          50       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Shree Tribhuvan Ispat Pvt Ltd   FB WC limit            IND BB- /IND A4+ 100      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Stanzen Engineering Pvt Ltd     TL (LT)                IND D            15.5     Assigned
Stanzen Engineering Pvt Ltd     FB Fac (LT)            IND D            50       Assigned
Swastik Ceracon Ltd             TL                     IND BB-          121      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Swastik Ceracon Ltd             FB WC limits           IND BB-          500      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Vallabhaneni Constructions Pvt  FB WC limits           IND BB /IND A4+  50       Migrated to
Ltd                                                                              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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