December 16, 2016 / 6:08 AM / 10 months ago

India Ratings for Indian debt instruments - Dec 16

Dec 16 (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 15, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Bambino Agro Industries Ltd     Fund Based WC Limit    IND A3           417      Affirmed
Bambino Agro Industries Ltd     NFB WC Limit           IND A3           18.5     Affirmed
Deetya Projects                 Fund Based WC Limit    IND A4+          30       Assigned
Deetya Projects                 NFB WC Limit           IND A4+          20       Assigned
Excellent Moulders              NFB WC Limit           IND A4+          85       Assigned
Iot Infrastructure & Energy     BG                     IND A1+          11100    Affirmed
Services Ltd
Iot Infrastructure & Energy     Fund/NFB WC Limit      IND A1+          2500     Affirmed
Services Ltd
Iot Infrastructure & Energy     LOC                    IND A1+          1000     Affirmed
Services Ltd
Jeewan Motors Pvt Ltd           NFB WC Limit           IND A4+          10       Assigned
Jindal Overseas Corporation     Fund Based WC Limit    IND A4+          100      Affirmed
Jindal Overseas Corporation     NFB WC Limit           IND A4+          750      Affirmed
Jubilant Autoworks Pvt Ltd      Fund Based WC Limit    IND A3+(SO)      100      Assigned
Jubilant Autoworks Pvt Ltd      NFB WC Limit           IND A3+(SO)      100      Assigned
Jubilant Motorworks (South) Pvt Fund Based WC Limit    IND A3+(SO)      120      Assigned
Ltd
Jubilant Sports Cars Pvt Ltd    Fund Based WC Limit    IND A3+(SO)      25       Assigned
Jubilant Sports Cars Pvt Ltd    NFB WC Limit           IND A3+(SO)      35       Assigned
Mahindra And Mahindra Financial CP                     IND A1+          15000    Assigned
Services Ltd
Mahindra And Mahindra Financial CP                     IND A1+          10000    Assigned
Services Ltd
Nova Integrated Systems Ltd     Fund Based WC Limit    IND A1           100      Affirmed
Nova Integrated Systems Ltd     NFB WC Limit           IND A1           540      Affirmed
Tasec Ltd                       Fund Based WC Limit    IND A1           65       Assigned
Tasec Ltd                       NFB WC Limit           IND A1           435      Assigned
Tata Advanced Systems Ltd       NFB WC Limit           IND A1           547.5    Affirmed
Tata Lockheed Martin            Fund Based WC Limit    IND A1           600      Affirmed
Aerostructures Ltd
Tata Lockheed Martin            NFB WC Limit           IND A1           1155     Affirmed
Aerostructures Ltd
Tata Sikorsky Aerospace Ltd     NFB WC Limit           IND A1           150      Affirmed
Vsk Laboratories Pvt Ltd        Fund Based WC Limit    IND A4           55       Assigned
Vsk Laboratories Pvt Ltd        NFB WC Limit           IND A4           25       Assigned

LONG TERM RATINGS:
-------------------
Abhimaani Prakashana            LT Issuer Rating       IND D                     Assigned
Abhimaani Prakashana            TL                     IND D            63.9     Assigned
Apollo Computing Laboratories   LT Issuer Rating       IND D                     Downgraded
Pvt Ltd                                                                          from IND BB
Apollo Computing Laboratories   Fund Based WC Limit    IND D            100      Downgraded
Pvt Ltd                                                                          from IND BB
Apollo Computing Laboratories   NFB WC Limit           IND D            220      Downgraded
Pvt Ltd                                                                          from IND BB
Apollo Computing Laboratories   TL                     IND D            30       Downgraded
Pvt Ltd                                                                          from IND BB
Bambino Agro Industries Ltd     Fund Based WC Limit    IND BBB-         33       Affirmed
Bambino Agro Industries Ltd     LT Issuer Rating       IND BBB-                  Affirmed
Bambino Agro Industries Ltd     Fund Based WC Limit    IND BBB-         417      Affirmed
Bambino Agro Industries Ltd     Fund Based WC Limit    IND BBB-         33       Affirmed
Bambino Agro Industries Ltd     TL                     IND BBB-         143.5    Affirmed
Bambino Agro Industries Ltd     Fund Based WC Limit    WD               30       Withdrawn
Bambino Agro Industries Ltd     Fund Based WC Limit    WD               30       Withdrawn
Deetya Projects                 LT Issuer Rating       IND BB-                   Assigned
Deetya Projects                 Fund Based WC Limit    IND BB-          30       Assigned
Excellent Moulders              LT Issuer Rating       IND BB                    Assigned
Excellent Moulders              Fund Based WC Limit    IND BB           60       Assigned
Hela Systems Pvt Ltd            LT Issuer Rating       WD                        Withdrawn
Hela Systems Pvt Ltd            Fund Based WC Limit    WD               350      Withdrawn
Hela Systems Pvt Ltd            NFB WC Limit           WD               37.5     Withdrawn
Hela Systems Pvt Ltd            NFB WC Limit           WD               USD16.46 Withdrawn
Iot Infrastructure & Energy     LT Issuer Rating       IND A+                    Affirmed
Services Ltd
Iot Infrastructure & Energy     BG                     IND A+           11100    Affirmed
Services Ltd
Iot Infrastructure & Energy     CC                     IND A+           1000     Affirmed
Services Ltd
Iot Infrastructure & Energy     Fund/NFB WC Limit      IND A+           2500     Affirmed
Services Ltd
Iot Infrastructure & Energy     TL                     IND AA-(SO)      2400     Affirmed
Services Ltd
Iot Infrastructure & Energy     CP                     WD               300      Withdrawn
Services Ltd
Iot Infrastructure & Energy     TL                     WD               2335     Withdrawn
Services Ltd
Jain Timber Co. Pvt. Ltd.       LT Issuer Rating       WD                        Withdrawn
Jain Timber Co. Pvt. Ltd.       Fund Based WC Limit    WD               22.5     Withdrawn
Jain Timber Co. Pvt. Ltd.       Fund Based WC Limit    WD               22.5     Withdrawn
Jain Timber Co. Pvt. Ltd.       NFB WC Limit           WD               50       Withdrawn
Jeewan Motors Pvt Ltd           LT Issuer Rating       IND BB                    Assigned
Jeewan Motors Pvt Ltd           Fund Based WC Limit    IND BB           300      Assigned
Jindal Overseas Corporation     LT Issuer Rating       IND BB                    Affirmed
Jindal Overseas Corporation     Fund Based WC Limit    IND BB           100      Affirmed
Jubilant Autoworks Pvt Ltd      Fund Based WC Limit    IND BBB(SO)      100      Assigned
Jubilant Energy (Kharsang) Pvt  LT Issuer Rating       WD                        Withdrawn
Ltd
Jubilant Energy (Kharsang) Pvt  Bk Loan                WD               5850     Withdrawn
Ltd
Jubilant Motorworks (South) Pvt Fund Based WC Limit    IND BBB(SO)      120      Assigned
Ltd
Jubilant Oil & Gas Pvt Ltd      LT Issuer Rating       WD                        Withdrawn
Jubilant Oil & Gas Pvt Ltd      NFB WC Limit           WD               760      Withdrawn
Jubilant Sports Cars Pvt Ltd    Fund Based WC Limit    IND BBB(SO)      25       Assigned
Mahajan Fabrics Pvt Ltd         LT Issuer Rating       WD                        Withdrawn
Mahajan Fabrics Pvt Ltd         Fund Based WC Limit    WD               120      Withdrawn
Mahajan Fabrics Pvt Ltd         Fund Based WC Limit    WD               120      Withdrawn
Mahajan Fabrics Pvt Ltd         TL                     WD               30       Withdrawn
Mahindra And Mahindra Financial NCD                    IND AAA          1100     Assigned
Services Ltd
Mahindra And Mahindra Financial Subordinated Debt      IND AAA          5900     Assigned
Services Ltd
Mahindra And Mahindra Financial LT Issuer Rating       IND AAA                   Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          20000    Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          15000    Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          10000    Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          20000    Assigned
Services Ltd
Mahindra And Mahindra Financial Debenture              IND AAA          5000     Assigned
Services Ltd
Mahindra And Mahindra Financial Debenture              IND AAA          5000     Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          5000     Assigned
Services Ltd
Mahindra And Mahindra Financial NCD                    IND AAA          20000    Assigned
Services Ltd
Mahindra And Mahindra Financial Subordinated Debt      IND AAA          5000     Assigned
Services Ltd
Mansingh Hotels & Resorts Ltd   LT Issuer Rating       WD                        Withdrawn
Mansingh Hotels & Resorts Ltd   Fund Based WC Limit    WD               50       Withdrawn
Mansingh Hotels & Resorts Ltd   Fund Based WC Limit    WD               50       Withdrawn
Mansingh Hotels & Resorts Ltd   NFB WC Limit           WD               15       Withdrawn
Mansingh Hotels & Resorts Ltd   NFB WC Limit           WD               15       Withdrawn
Mansingh Hotels & Resorts Ltd   TL                     WD               135      Withdrawn
Markandeshwar Foods & Allied    LT Issuer Rating       WD                        Withdrawn
Products Ltd
Markandeshwar Foods & Allied    Fund Based WC Limit    WD               182.5    Withdrawn
Products Ltd
Markandeshwar Foods & Allied    Fund Based WC Limit    WD               182.5    Withdrawn
Products Ltd
Mms Steel & Power Pvt Ltd       BG                     WD               10       Withdrawn
Mms Steel & Power Pvt Ltd       Fund/NFB WC Limit      WD               180      Withdrawn
Mms Steel & Power Pvt Ltd       LOC                    WD               30       Withdrawn
Ninex Developers Ltd            LT Issuer Rating       WD                        Withdrawn
Ninex Developers Ltd            TL                     WD               286      Withdrawn
Nova Integrated Systems Ltd     LT Issuer Rating       IND A                     Affirmed
Nova Integrated Systems Ltd     Fund Based WC Limit    IND A            100      Affirmed
Nova Integrated Systems Ltd     NFB WC Limit           IND A            540      Affirmed
Nova Integrated Systems Ltd     TL                     IND A            100      Affirmed
Nova Integrated Systems Ltd     TL                     WD               50       Withdrawn
Nova Integrated Systems Ltd     TL                     WD               50       Withdrawn
Orbit Metal Industries (Unit Ii)LT Issuer Rating       WD                        Withdrawn
Orbit Metal Industries (Unit Ii)Fund Based WC Limit    WD               45       Withdrawn
Orbit Metal Industries (Unit Ii)Fund Based WC Limit    WD               45       Withdrawn
Orbit Metal Industries (Unit Ii)NFB WC Limit           WD               45       Withdrawn
Orbit Metal Industries (Unit Ii)TL                     WD               19.1     Withdrawn
Pawan Autowheels Pvt Ltd        LT Issuer Rating       WD                        Withdrawn
Pawan Autowheels Pvt Ltd        Fund Based WC Limit    WD               60       Withdrawn
Pawan Autowheels Pvt Ltd        Fund Based WC Limit    WD               60       Withdrawn
Pawan Autowheels Pvt Ltd        TL                     WD               36.58    Withdrawn
Privilege Industries Ltd        LT Issuer Rating       IND BBB-                  Assigned
Privilege Industries Ltd        CC                     IND BBB-         250      Assigned
Privilege Industries Ltd        TL                     IND BBB-         267.2    Assigned
Rsi Switchgear Pvt Ltd          LT Issuer Rating       WD                        Withdrawn
Rsi Switchgear Pvt Ltd          Fund Based WC Limit    WD               70       Withdrawn
Rsi Switchgear Pvt Ltd          Fund Based WC Limit    WD               70       Withdrawn
Rsi Switchgear Pvt Ltd          NFB WC Limit           WD               50       Withdrawn
Shri Parasnath Alloys Pvt Ltd   LT Issuer Rating       WD                        Withdrawn
Shri Parasnath Alloys Pvt Ltd   Fund Based WC Limit    WD               45       Withdrawn
Shri Parasnath Alloys Pvt Ltd   Fund Based WC Limit    WD               45       Withdrawn
Shri Parasnath Alloys Pvt Ltd   TL                     WD               10.9     Withdrawn
Tasec Ltd                       LT Issuer Rating       IND A                     Assigned
Tasec Ltd                       Fund Based WC Limit    IND A            65       Assigned
Tata Advanced Systems Ltd       LT Issuer Rating       IND A                     Affirmed
Tata Advanced Systems Ltd       Fund Based WC Limit    IND A            350      Affirmed
Tata Advanced Systems Ltd       TL                     IND A            752.5    Affirmed
Tata Lockheed Martin            LT Issuer Rating       IND A                     Affirmed
Aerostructures Ltd
Tata Lockheed Martin            Fund Based WC Limit    IND A            600      Affirmed
Aerostructures Ltd
Tata Sikorsky Aerospace Ltd     LT Issuer Rating       IND A                     Affirmed
Tata Sikorsky Aerospace Ltd     Fund Based WC Limit    IND A            930      Affirmed
Tata Sikorsky Aerospace Ltd     TL                     IND A            629      Affirmed
The Bombay Dyeing &             LT Issuer Rating       WD                        Withdrawn
Manufacturing Co. Ltd
Vsk Laboratories Pvt Ltd        LT Issuer Rating       IND B                     Assigned
Vsk Laboratories Pvt Ltd        Fund Based WC Limit    IND B            55       Assigned
Vsk Laboratories Pvt Ltd        TL                     IND B            161.5    Assigned
Windlas Biotech Ltd.            LT Issuer Rating       WD                        Withdrawn
Windlas Biotech Ltd.            Fund Based WC Limit    WD               330      Withdrawn
Windlas Biotech Ltd.            Fund Based WC Limit    WD               330      Withdrawn
Windlas Biotech Ltd.            NFB WC Limit           WD               20       Withdrawn
Windlas Biotech Ltd.            NFB WC Limit           WD               20       Withdrawn
Windlas Biotech Ltd.            TL                     WD               167.5    Withdrawn
Windlas Healthcare Pvt. Ltd     LT Issuer Rating       WD                        Withdrawn
Windlas Healthcare Pvt. Ltd     Fund Based WC Limit    WD               50       Withdrawn
Windlas Healthcare Pvt. Ltd     Fund Based WC Limit    WD               50       Withdrawn
Windlas Healthcare Pvt. Ltd     TL                     WD               32.8     Withdrawn
-----------------------------------------------------------------------------------------------
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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