December 9, 2016 / 4:32 AM / 8 months ago

India Ratings for Indian debt instruments - Dec 9

Dec 9 (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
December 8, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Indian Acrylics Ltd             Fund Based WC Limit    IND A3           230      Affirmed
Indian Acrylics Ltd             NFB WC Limit           IND A3           1797.5   Affirmed
Kiran Impex Pvt Ltd             Fund Based WC Limit    IND A3           70       Assigned
Kiran Impex Pvt Ltd             NFB WC Limit           IND A3           170      Assigned
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    IND A3+          280      Affirmed
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    IND A3+          70       Provisional
Ncl Alltek & Seccolor Ltd       NFB WC Limit           IND A3+          50       Affirmed
Orient Fashion Exports (I) Pvt  Fund Based WC Limit    IND A2+          960      Assigned
Ltd
Orient Fashion Exports (I) Pvt  Fund Based WC Limit    IND A2+          65.5     Assigned
Ltd
Orient Fashion Exports (I) Pvt  NFB WC Limit           IND A2+          40       Assigned
Ltd
Prism Cement Ltd                CP                     IND A1           2000     Assigned
Prism Cement Ltd                NFB WC Limit           IND A1           3850     Assigned
Prism Cement Ltd                TL                     IND A1           3000     Assigned
Vasista Marine                  Fund Based WC Limit    IND A4+          170      Assigned
Vasista Marine                  Fund Based WC Limit    IND A4+          230      Assigned
Vasista Marine                  NFB WC Limit           IND A4+          10       Assigned
Wockhardt Ltd                   NFB WC Limit           A1+              5713     Affirmed
Wockhardt Ltd                   CP                     IND A1+          2000     Affirmed
Wockhardt Ltd                   Fund/NFB WC Limit      IND A1+          4662.5   Affirmed

LONG TERM RATINGS:
-------------------
Dspi Milk Foods Ltd             LT Issuer Rating       WD                        Withdrawn
Dspi Milk Foods Ltd             Fund Based WC Limit    WD               100      Withdrawn
Dspi Milk Foods Ltd             Fund Based WC Limit    WD               100      Withdrawn
Indian Acrylics Ltd             LT Issuer Rating       IND BBB-                  Affirmed
Indian Acrylics Ltd             Fund Based WC Limit    IND BBB-         230      Affirmed
Indian Acrylics Ltd             NFB WC Limit           IND BBB-         1797.5   Affirmed
Indian Acrylics Ltd             TL                     WD               43.3     Withdrawn
Indo Farm Equipment Ltd         LT Issuer Rating       WD                        Withdrawn
Indo Farm Equipment Ltd         Fund Based WC Limit    WD               750      Withdrawn
Indo Farm Equipment Ltd         Fund Based WC Limit    WD               750      Withdrawn
Indo Farm Equipment Ltd         NFB WC Limit           WD               50       Withdrawn
Indo Farm Equipment Ltd         NFB WC Limit           WD               50       Withdrawn
Indo Farm Equipment Ltd         TL                     WD               138.8    Withdrawn
Irb Kolhapur Integrated Road    Bk Loan                IND A-(SO)       2378.4   Affirmed
Development Company Pvt Ltd
Kasargod Power Corporation Ltd  WC Demand Loan         WD               65       Withdrawn
Kiran Impex Pvt Ltd             LT Issuer Rating       IND BBB-                  Assigned
Kiran Impex Pvt Ltd             Fund Based WC Limit    IND BBB-         70       Assigned
Ncl Alltek & Seccolor Ltd       LT Issuer Rating       IND BBB                   Affirmed
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    IND BBB          280      Affirmed
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    IND BBB          70       Provisional
Ncl Alltek & Seccolor Ltd       TL                     IND BBB          230      Affirmed
Ncl Alltek & Seccolor Ltd       TL                     IND BBB          100      Provisional
Ncl Alltek & Seccolor Ltd       Fixed Deposit          IND tA-          87.2     Affirmed
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    WD               20       Withdrawn
Ncl Alltek & Seccolor Ltd       Fund Based WC Limit    WD               20       Withdrawn
Orient Fashion Exports (I) Pvt  LT Issuer Rating       IND BBB+                  Assigned
Ltd
Orient Fashion Exports (I) Pvt  Fund Based WC Limit    IND BBB+         960      Assigned
Ltd
Prism Cement Ltd                LT Issuer Rating       IND A-                    Assigned
Prism Cement Ltd                NCD                    IND A-           2000     Assigned
Prism Cement Ltd                Fund Based WC Limit    IND A-           4650     Assigned
Prism Cement Ltd                NCD                    IND A-           1000     Assigned
Prism Cement Ltd                NCD                    IND A-           1000     Assigned
Prism Cement Ltd                NCD                    IND A-           1500     Assigned
Prism Cement Ltd                TL                     IND A-           8500     Assigned
Prism Cement Ltd                Term Deposit           IND tA           1000     Assigned
Prism Cement Ltd                NCD                    WD               650      Withdrawn
Prism Cement Ltd                NCD                    WD               150      Assigned
Prism Cement Ltd                TL                     WD               1100     Withdrawn
Vasista Marine                  LT Issuer Rating       IND BB                    Assigned
Vasista Marine                  Fund Based WC Limit    IND BB           170      Assigned
Vasista Marine                  Fund Based WC Limit    IND BB           230      Assigned
Wockhardt Ltd                   LT Issuer Rating       IND AA-                   Downgraded
                                                                                 from IND AA
Wockhardt Ltd                   Fund Based WC Limit    IND AA-          3250     Downgraded
                                                                                 from IND AA
Wockhardt Ltd                   Fund/NFB WC Limit      IND AA-          4662.5   Downgraded
                                                                                 from IND AA
Wockhardt Ltd                   TL                     IND AA-          USD100   Downgraded
                                                                                 from IND AA
Wockhardt Ltd                   TL                     IND AA-          USD300   Downgraded
                                                                                 from IND AA
Wockhardt Ltd                   TL                     IND AA-          5000     Downgraded
                                                                                 from IND AA

-----------------------------------------------------------------------------------------------
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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