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India Ratings for Indian debt instruments-Aug 5
August 5, 2013 / 5:13 AM / 4 years ago

India Ratings for Indian debt instruments-Aug 5

Aug 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
August 2, 2013.

COMPANY                         INSTRUMENT                 RATING       AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------                 ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Balaji Amines Ltd (BAL)         Non-FB limits              IND A2+      1400     Affirmed
(enhanced from INR700m)
Bonai Industrial Company Ltd    FB limits                  IND A1+      1800     Affirmed
(BICL)
(increased from INR1,000m)
Bonai Industrial Company Ltd    Non-FB limits              IND A1+      200      Affirmed
(BICL)
Feegrade & Company Pvt.Ltd      FB limits                  IND A1+      1000     Affirmed
(FCPL)
Feegrade & Company Pvt.Ltd      Non-FB limits              IND A1+      120      Affirmed
(FCPL)
Hi-Tech Radiators Pvt.Ltd       LC                         IND A4+      85       Assigned
(HRL)
Hi-Tech Radiators Pvt.Ltd       Proposed enhancement in LC IND A4+(exp) 15       Assigned
(HRL)
M/S Mangilall Rungtas           FB limits                  IND A1       500      Upgraded from
                                                                                 IND A2+
M/S Mangilall Rungtas           Non-FB limits              IND A1       500      Upgraded from
                                                                                 IND A2+
Rbs Financial Services (I) Pvt  ST CP                      IND A1+      5000     Affirmed
Ltd (RBSFS)
Rungta Mines Ltd (RML)          FB limits                  IND A1+      3300     Affirmed
Rungta Mines Ltd (RML)          Non-FB limits              IND A1+      1000     Affirmed
Rungta Sons Pvt. Ltd.(RSPL)     FB limits                  IND A1+      1800     Affirmed
(increased from INR1,000m)
Rungta Sons Pvt. Ltd.(RSPL)     Non-FB limits              IND A1+      120      Affirmed
Balaji Amines Ltd (BAL)         TL outstanding             IND A-       1401     Affirmed
(enhanced from INR816m)
Balaji Amines Ltd (BAL)         FB limits                  IND A- /     1580     Affirmed
                                                           IND A2+
(enhanced from INR1,000m)

LONG TERM RATINGS:
-------------------
Bonai Industrial Company Ltd    Long-TL                    IND AA       32.3     Upgraded from
(BICL)                                                                           IND AA-
(reduced from INR285.4m)
Feegrade & Company Pvt. Ltd     Long-TL                    IND AA       7.5      Upgraded from
(FCPL)                                                                           IND AA-
(reduced from INR126.2m)
Hi-Tech Radiators Pvt. Ltd      TL                         IND BB       20.6     Assigned
(HRL)
Hi-Tech Radiators Pvt. Ltd      CC                         IND BB       100      Assigned
(HRL)
Hi-Tech Radiators Pvt. Ltd      Usance bills discounted    IND BB       70       Assigned
(HRL)                           (UBD) under LOC (LC)
Hi-Tech Radiators Pvt. Ltd      Proposed TL                IND BB (exp) 36.8     Assigned
(HRL)
Hi-Tech Radiators Pvt. Ltd      Proposed enhancement in CC IND BB (exp) 20       Assigned
(HRL)
Hi-Tech Radiators Pvt. Ltd      Proposed enhancement in    IND BB (exp) 5        Assigned
(HRL)                           UBD under LC
Institute Of Management         Bk loans                   IND A-       873.09   Assigned
Studies
M/S Mangilall Rungtas           Long-TL                    IND A        27       Upgraded from
                                                                                 IND A-
(reduced from INR160.1m)
Mukunda Dairy Products Pvt Ltd  FB WC limits               IND BB+ /    20       Withdrawn
                                                           IND A4+
Mukunda Dairy Products Pvt Ltd  FB WC limits               IND BB+ /    80       Suspended
                                                           IND A4+
Pratibha Shipping Co. Ltd       Long-TL.                   IND BBB      2742     Withdrawn
(PSCL)
Pratibha Shipping Co. Ltd       LT Issuer Rating           IND BBB-     -        Withdrawn
(PSCL)
Rbs Financial Services (I) Pvt  LT principal protected     IND PP - MLD 925      Affirmed
Ltd (RBSFS)                     equity-linked notes        AAA emr
Rungta Mines Ltd (RML)          Long-TL                    IND AA       -        Withdrawn
Rungta Sons Pvt. Ltd.S (RSPL)   Long-TL                    IND AA       28.5     Upgraded from
                                                                                 IND AA-
(reduced from INR327.7m)
Silver Spring Spinners (I)      Long-TL                    IND D        2        Assigned
Pvt. Ltd
Silver Spring Spinners (I)      FB limits                  IND D        46.5     Assigned
Pvt. Ltd
Silver Spring Spinners (I)      Non-FB limits              IND D        34.5     Assigned
Pvt. Ltd
-----------------------------------------------------------------------------------------------
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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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