August 27, 2013 / 4:48 AM / 4 years ago

India Ratings for Indian debt instruments-Aug 27

Aug 27 (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 26, 2013.

COMPANY                         INSTRUMENT                 RATING      AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------                 ------      ------    ---------
SHORT TERM RATINGS:
-------------------
BC Sen & Co. Ltd                Non-FB limits              IND A2+      85       Upgraded from
                                                                                 IND A2
(enhanced from INR60m)
Grain Milling Company Pvt Ltd   Non-FB Fac                 IND A3       2.5      Migrated from
                                                           (suspended)           IND A3
Liberty Oil Mills Ltd           Non-FB limits              IND A2       5476.5   Affirmed

LONG TERM RATINGS:
-------------------
BC Sen & Co. Ltd                FB limits                  IND BBB+ /   165      Upgraded from
                                                           IND A2+               IND BBB/ IND
                                                                                 A2
(enhanced from INR154.5m)
Grain Milling Company Pvt Ltd   TL                         IND BBB-     117.6    Migrated from
                                                           (suspended)           IND BBB-
Grain Milling Company Pvt Ltd   CC limit                   IND BBB-     100      Migrated from
                                                           (suspended)           IND BBB-
Liberty Oil Mills Ltd           FB limits                  IND BBB /    1786     Affirmed
                                                           IND A2
(interchangeable with the non-fund-based limits)
Samtex Fashions Ltd             TL                         IND BB       100.2    Withdrawn
                                                           (suspended)
Samtex Fashions Ltd             FB WC limits               IND BB       230      Withdrawn
                                                           (suspended)
                                                           / IND A4+ 
                                                           (suspended)
Samtex Fashions Ltd             Non-FB WC limits           IND BB       65       Withdrawn
                                                           (suspended)
                                                           / IND A4+ 
                                                           (suspended)
Samtex Fashions Ltd             Stand-by limits            IND BB       59       Withdrawn
                                                           (suspended)
                                                           / IND A4+ (suspended)
Sanghvi Foods Pvt Ltd           TL                         IND BBB-     176.6    Migrated from
                                                           (suspended)           IND BBB-
Sanghvi Foods Pvt Ltd           CC limit                   IND BBB-     300      Migrated from
                                                           (suspended)           IND BBB-
Surat Dahisar Tollway Pvt Ltd   TL                         IND BB       22.5     Withdrawn
                                                           (suspended)
Surat Dahisar Tollway Pvt Ltd   FB WC limits               IND BB       25       Withdrawn
                                                           (suspended)
                                                           / IND A4 
                                                           (suspended)
Surat Dahisar Tollway Pvt Ltd   Non-FB WC limits           IND BB       10       Withdrawn
                                                           (suspended)
                                                           / IND A4 
                                                           (suspended)
Surat Dahisar Tollway Pvt Ltd   senior project Bk loan     IND BBB      12371.5  Affirmed
(reduced from INR13,007.59m)
-----------------------------------------------------------------------------------------------
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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