December 12, 2016 / 4:23 AM / 8 months ago

India Ratings for Indian debt instruments - Dec 12

Dec 12 (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 9, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Hardcastle Restaurants Pvt Ltd  Fund Based WC Limit    IND A1           500      Affirmed
Hardcastle Restaurants Pvt Ltd  Fund Based WC Limit    IND A1           1250     Provisional
Kotak Urja Pvt Ltd              NFB WC Limit           IND A4+          120      Assigned
Next Education India Pvt Ltd    Fund Based WC Limit    IND A3+          50       Affirmed
Next Education India Pvt Ltd    Fund Based WC Limit    IND A3+          50       Affirmed
Next Education India Pvt Ltd    Fund Based WC Limit    IND A3+          200      Provisional
Nisa Industrial Services Pvt LtdFund Based WC Limit    IND A2+          650      Assigned
Padmaja Power Pvt Ltd           Fund Based WC Limit    IND A4           150      Assigned
Padmaja Power Pvt Ltd           Fund Based WC Limit    IND A4           200      Provisional
Padmaja Power Pvt Ltd           NFB WC Limit           IND A4           150      Assigned

LONG TERM RATINGS:
-------------------
Agarwal Automobiles             LT Issuer Rating       WD                        Withdrawn
Agarwal Automobiles             Fund Based WC Limit    WD               50       Withdrawn
Agarwal Automobiles             Fund Based WC Limit    WD               50       Withdrawn
Agarwal Automobiles             Fund Based WC Limit    WD               40       Withdrawn
Agarwal Automobiles             Fund Based WC Limit    WD               40       Withdrawn
Ardisons Associates             LT Issuer Rating       WD                        Withdrawn
Ardisons Associates             Fund Based WC Limit    WD               40       Withdrawn
Ardisons Associates             Fund Based WC Limit    WD               40       Withdrawn
Ardisons Associates             NFB WC Limit           WD               15       Withdrawn
Ardisons Associates             TL                     WD               5.95     Withdrawn
Deeksha Housing Pvt Ltd         LT Issuer Rating       WD                        Withdrawn
Deeksha Housing Pvt Ltd         TL                     WD               78.7     Withdrawn
Dhanraj Diamonds                LT Issuer Rating       WD                        Withdrawn
Dhanraj Diamonds                Fund Based WC Limit    WD               110      Withdrawn
Dhanraj Diamonds                Fund Based WC Limit    WD               110      Withdrawn
Dhanraj Diamonds                Fund Based WC Limit    WD               20       Withdrawn
Dhanraj Diamonds                Fund Based WC Limit    WD               20       Withdrawn
Ghodawat Agro Pvt Ltd           LT Issuer Rating       WD                        Withdrawn
Ghodawat Agro Pvt Ltd           Fund Based WC Limit    WD               80       Withdrawn
Ghodawat Agro Pvt Ltd           TL                     WD               157.3    Withdrawn
Hardcastle Restaurants Pvt Ltd  Fund Based WC Limit    IND A-           500      Affirmed
Hardcastle Restaurants Pvt Ltd  Fund Based WC Limit    IND A-           1250     Provisional
Hardcastle Restaurants Pvt Ltd  Bk Loan                WD               300      Withdrawn
Hardcastle Restaurants Pvt Ltd  Bk Loan                WD               300      Withdrawn
Hardcastle Restaurants Pvt Ltd  CC                     WD               300      Withdrawn
Hardcastle Restaurants Pvt Ltd  CC                     WD               300      Withdrawn
Hardcastle Restaurants Pvt Ltd  Other                  WD               500      Withdrawn
Hardcastle Restaurants Pvt Ltd  Other                  WD               500      Withdrawn
Hardcastle Restaurants Pvt Ltd  Other                  WD               20       Withdrawn
Kotak Urja Pvt Ltd              LT Issuer Rating       IND BB-                   Assigned
Kotak Urja Pvt Ltd              Fund Based WC Limit    IND BB-          220      Assigned
Kotak Urja Pvt Ltd              TL                     IND BB-          70       Assigned
Next Education India Pvt Ltd    Fund Based WC Limit    IND BBB          50       Affirmed
Next Education India Pvt Ltd    Fund Based WC Limit    IND BBB          50       Affirmed
Next Education India Pvt Ltd    Fund Based WC Limit    IND BBB          200      Provisional
Next Education India Pvt Ltd    TL                     IND BBB          299.6    Affirmed
Next Education India Pvt Ltd    TL                     IND BBB          211.7    Affirmed
Next Education India Pvt Ltd    TL                     IND BBB          450      Provisional
Nisa Industrial Services Pvt LtdLT Issuer Rating       IND A-                    Assigned
Nisa Industrial Services Pvt LtdFund Based WC Limit    IND A-           650      Assigned
Nisa Industrial Services Pvt LtdTL                     IND A-           300      Assigned
Nisa Industrial Services Pvt LtdTL                     IND A-           100      Provisional
Padmaja Power Pvt Ltd           LT Issuer Rating       IND B                     Assigned
Padmaja Power Pvt Ltd           Fund Based WC Limit    IND B            150      Assigned
Padmaja Power Pvt Ltd           Fund Based WC Limit    IND B            200      Provisional
Rayalaseema Expressway Pvt Ltd  Bk Loan                IND D            7030     Affirmed
-----------------------------------------------------------------------------------------------
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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