June 15, 2017 / 5:50 AM / a month ago

India Ratings for Indian debt instruments – Jun 15

6 Min Read

    Jun 15 (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 14, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Antelec Ltd                     Non-FB Bk Fac          IND A3           130      Affirmed
Bajrang Nirman Pvt Ltd          Non-FB WC limit        IND A4+          47.5     Assigned
Ghv (I) Pvt Ltd                 Non-FB WC limits       IND A1           1330     Assigned
Ghv (I) Pvt Ltd                 Proposed non-FB limits*IND A1           2140     Assigned
* The ratings are provisional and shall be confirmed upon the receipt of the sanction letters by
Ind-Ra.
M P Agarwala                    Non-FB Fac             IND A4+          110      Affirmed
(ISSUER NOT COOPERATING)                                                         
Pawar Patkar Construction Pvt   Non - FB WC limits     IND A4+          430      Migrated
Ltd                                                                              to Non-
                                                                                 Cooperating
                                                                                 Category

LONG TERM RATINGS:
-------------------
Antelec Ltd                     FB WC limit            IND BBB-         5.5      Affirmed
Bajrang Nirman Pvt Ltd          FB WC limit            IND BB / IND A4+ 5.5      Assigned
Ganeshvani Merchandise Pvt Ltd  Senior project Bk loan IND BBB-         335      Assigned
(INR246.14 outstanding as on 31 May 2017)
Ghv (I) Pvt Ltd                 Proposed FB limits*    IND A            900      Assigned
* The ratings are provisional and shall be confirmed upon the receipt of the sanction letters by
Ind-Ra.
M P Agarwala                    FB Fac LT/ST           IND A4+          70       Affirmed
(ISSUER NOT COOPERATING)                                                         

Pawar Patkar Construction Pvt   FB WC limits           IND BB+          140      Migrated
Ltd                                                    IND A4+                   to Non-
                                                                                 Cooperating
                                                                                 Category
Peerless Hospitex Hospital And  FB CC limit            IND BBB-         50       Migrated
Research Center Ltd                                                              to Non-
(ISSUER NOT COOPERATING)                                                         Cooperating
                                                                                 Category
Peerless Hospitex Hospital And  TL                     WD               27.12    Migrated
Research Center Ltd                                                              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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