December 21, 2016 / 5:40 AM / 9 months ago

India Ratings for Indian debt instruments - Dec 21

Dec 21 (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 20, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Arrow Construction Ltd          NFB WC Limit           IND A4+          80       Affirmed
Bemco Sleepers Ltd              NFB WC Limit           IND A4+          50       Assigned
Dashmesh Weaving & Dyeing Mills Fund Based WC Limit    IND A4+          120      Assigned
Pvt Ltd
Deep Weldmesh Pvt Ltd           Fund Based WC Limit    IND A4+          100      Assigned
Emc Ltd                         NFB WC Limit           IND A1           43850    Rating Watch
                                                                                 Evolving
Emc Ltd                         NFB WC Limit           IND A1           9150     Provisional
Gargs Weldmesh Pvt Ltd          Fund Based WC Limit    IND A4+          100      Assigned
Hills Trade Agencies            Fund Based WC Limit    IND A4           50       Assigned
Hills Trade Agencies            NFB WC Limit           IND A4           400      Assigned
Iot Engineering Projects Ltd    NFB WC Limit           IND A4+          500      Upgraded from
                                                                                 IND D
Jayesh Industries Ltd           Fund Based WC Limit    IND A4+          87.5     Assigned
Jayesh Industries Ltd           Fund Based WC Limit    IND A4+          10       Assigned
Jayesh Industries Ltd           NFB WC Limit           IND A4+          52       Assigned
Naga Ltd                        Fund Based WC Limit    A3+              1400     Assigned
Naga Ltd                        NFB WC Limit           A3+              150      Assigned
Naga Ltd                        Fund Based WC Limit    IND A3+          430      Assigned
Naga Ltd                        NFB WC Limit           IND A3+          330      Assigned
Oasys Cybernetics Pvt Ltd       NFB WC Limit           IND A3+          815      Assigned
Samrat Gems Impex Pvt Ltd       Fund Based WC Limit    IND A4+          299.5    Affirmed
Samrat Gems Impex Pvt Ltd       NFB WC Limit           IND A4+          50       Affirmed
Sea Hawk Agro Pvt Ltd           Fund Based WC Limit    IND A4+          33       Assigned
Sunshine Vegetables Pvt Ltd     Fund Based WC Limit    IND A4+          15       Assigned

LONG TERM RATINGS:
-------------------
Aic Casting Pvt. Ltd            LT Issuer Rating       WD                        Withdrawn
Aic Casting Pvt. Ltd            Fund Based WC Limit    WD               95       Withdrawn
Aic Iron Industries Pvt. Ltd.   LT Issuer Rating       WD                        Withdrawn
Aic Iron Industries Pvt. Ltd.   Fund Based WC Limit    WD               132.5    Withdrawn
Aic Iron Industries Pvt. Ltd.   NFB WC Limit           WD               17.5     Withdrawn
Aic Iron Industries Pvt. Ltd.   TL                     WD               29       Withdrawn
Aic Steel Pvt. Ltd              LT Issuer Rating       WD                        Withdrawn
Aic Steel Pvt. Ltd              Fund Based WC Limit    WD               125      Withdrawn
Aic Steel Pvt. Ltd              NFB WC Limit           WD               8        Withdrawn
Allied Icd Services Ltd         LT Issuer Rating       WD                        Withdrawn
Allied Icd Services Ltd         Fund Based WC Limit    WD               30       Withdrawn
Allied Icd Services Ltd         NFB WC Limit           WD               6.84     Withdrawn
Allied Icd Services Ltd         TL                     WD               19.2     Withdrawn
Arrow Construction Ltd          LT Issuer Rating       IND BB                    Upgraded from
                                                                                 IND BB-
Arrow Construction Ltd          Fund Based WC Limit    IND BB           20       Upgraded from
                                                                                 IND BB-
Babu Banarasi Das Educational   Fund Based WC Limit    IND A            300      Affirmed
Society
Babu Banarasi Das Educational   TL                     IND A            157.2    Affirmed
Society
Babu Banarasi Das Educational   TL                     IND A            429.7    Affirmed
Society
Bemco Sleepers Ltd              LT Issuer Rating       IND BB                    Assigned
Bemco Sleepers Ltd              Fund Based WC Limit    IND BB           70       Assigned
Bemco Sleepers Ltd              Fund Based WC Limit    IND BB           55       Provisional
Bemco Sleepers Ltd              TL                     IND BB           11       Assigned
Bemco Sleepers Ltd              TL                     IND BB           15       Provisional
Bhagwati Sponge Pvt Ltd         LT Issuer Rating       WD                        Withdrawn
Bhagwati Sponge Pvt Ltd         Fund Based WC Limit    WD               195      Withdrawn
Bhagwati Sponge Pvt Ltd         NFB WC Limit           WD               95       Withdrawn
Dashmesh Weaving & Dyeing Mills LT Issuer Rating       IND BB                    Assigned
Pvt Ltd
Dashmesh Weaving & Dyeing Mills Fund Based WC Limit    IND BB           120      Assigned
Pvt Ltd
Dashmesh Weaving & Dyeing Mills TL                     IND BB           12       Assigned
Pvt Ltd
Deep Weldmesh Pvt Ltd           LT Issuer Rating       IND BB-                   Assigned
Deep Weldmesh Pvt Ltd           Fund Based WC Limit    IND BB-          100      Assigned
Dns Stones Pvt Ltd              LT Issuer Rating       WD                        Withdrawn
Dns Stones Pvt Ltd              Fund Based WC Limit    WD               60       Withdrawn
Dns Stones Pvt Ltd              Fund Based WC Limit    WD               60       Withdrawn
Emc Ltd                         LT Issuer Rating       IND A                     Rating Watch
                                                                                 Evolving
Emc Ltd                         Fund Based WC Limit    IND A            7000     Rating Watch
                                                                                 Evolving
Emc Ltd                         TL                     IND A            1354.2   Rating Watch
                                                                                 Evolving
Gargs Weldmesh Pvt Ltd          LT Issuer Rating       IND BB-                   Assigned
Gargs Weldmesh Pvt Ltd          Fund Based WC Limit    IND BB-          100      Assigned
Golden Food Products            LT Issuer Rating       WD                        Withdrawn
Golden Food Products            Fund Based WC Limit    WD               100      Withdrawn
Golden Food Products            Fund Based WC Limit    WD               100      Withdrawn
Golden Food Products            Fund Based WC Limit    WD               20       Withdrawn
Golden Food Products            Fund Based WC Limit    WD               20       Withdrawn
Hills Trade Agencies            LT Issuer Rating       IND B+                    Assigned
Hills Trade Agencies            Fund Based WC Limit    IND B+           50       Assigned
Iot Engineering Projects Ltd    LT Issuer Rating       IND BB-                   Upgraded from
                                                                                 IND D
Iot Engineering Projects Ltd    NFB WC Limit           IND BB-          500      Upgraded from
                                                                                 IND D
Iot Engineering Projects Ltd    Fund Based WC Limit    WD               600      Withdrawn
Iot Engineering Projects Ltd    Fund Based WC Limit    WD               600      Withdrawn
Iot Engineering Projects Ltd    Fund/NFB WC Limit      WD               650      Withdrawn
Iot Engineering Projects Ltd    TL                     WD               55.88    Withdrawn
J.V. Strips Ltd                 LT Issuer Rating       WD                        Withdrawn
J.V. Strips Ltd                 Fund Based WC Limit    WD               540      Withdrawn
J.V. Strips Ltd                 Fund Based WC Limit    WD               540      Withdrawn
J.V. Strips Ltd                 Fund Based WC Limit    WD               107.3    Withdrawn
J.V. Strips Ltd                 Fund Based WC Limit    WD               107.3    Withdrawn
J.V. Strips Ltd                 NFB WC Limit           WD               100      Withdrawn
J.V. Strips Ltd                 TL                     WD               2.7      Withdrawn
Jayesh Industries Ltd           LT Issuer Rating       IND BB-                   Assigned
Jayesh Industries Ltd           Fund Based WC Limit    IND BB-          87.5     Assigned
Jayesh Industries Ltd           TL                     IND BB-          120      Provisional
K. Sadasiva Reddy               LT Issuer Rating       WD                        Withdrawn
K. Sadasiva Reddy               BG                     WD               20       Withdrawn
K. Sadasiva Reddy               Fund Based WC Limit    WD               40       Withdrawn
Kmk Event Management Ltd        LT Issuer Rating       WD                        Withdrawn
Kmk Event Management Ltd        Fund Based WC Limit    WD               20       Withdrawn
Kmk Event Management Ltd        NFB WC Limit           WD               33       Withdrawn
M.P. Agro Nutri Foods Ltd.      LT Issuer Rating       WD                        Withdrawn
M.P. Agro Nutri Foods Ltd.      Fund Based WC Limit    WD               250      Withdrawn
N. N. Ispat Pvt. Ltd.           LT Issuer Rating       WD                        Withdrawn
N. N. Ispat Pvt. Ltd.           Fund Based WC Limit    WD               130      Withdrawn
N. N. Ispat Pvt. Ltd.           NFB WC Limit           WD               80       Withdrawn
N. N. Ispat Pvt. Ltd.           TL                     WD               150.5    Withdrawn
Naga Ltd                        LT Issuer Rating       BBB                       Assigned
Naga Ltd                        Fund Based WC Limit    BBB              1400     Assigned
Naga Ltd                        NFB WC Limit           BBB              150      Assigned
Naga Ltd                        TL                     BBB              686      Assigned
Naga Ltd                        Fund Based WC Limit    IND BBB          430      Assigned
Naga Ltd                        NFB WC Limit           IND BBB          330      Assigned
Oasys Cybernetics Pvt Ltd       LT Issuer Rating       IND BBB                   Assigned
Oasys Cybernetics Pvt Ltd       Fund Based WC Limit    IND BBB          920      Assigned
Oasys Cybernetics Pvt Ltd       TL                     IND BBB          107      Assigned
Rbc Industries Pvt. Ltd.        LT Issuer Rating       WD                        Withdrawn
Rbc Industries Pvt. Ltd.        Fund Based WC Limit    WD               25       Withdrawn
Rbc Industries Pvt. Ltd.        TL                     WD               95.576   Withdrawn
Rita International              LT Issuer Rating       IND B                     Affirmed
Rita International              Fund Based WC Limit    IND B            80       Affirmed
Rlj Concast Pvt Ltd             LT Issuer Rating       WD                        Withdrawn
Rlj Concast Pvt Ltd             Fund Based WC Limit    WD               150      Withdrawn
Rlj Concast Pvt Ltd             Fund Based WC Limit    WD               150      Withdrawn
Rlj Concast Pvt Ltd             NFB WC Limit           WD               20       Withdrawn
Rlj Concast Pvt Ltd             TL                     WD               280      Withdrawn
Samrat Gems Impex Pvt Ltd       LT Issuer Rating       IND BB                    Upgraded from
                                                                                 IND BB-
Samrat Gems Impex Pvt Ltd       Fund Based WC Limit    IND BB           299.5    Upgraded from
                                                                                 IND BB-
Samrat Gems Impex Pvt Ltd       TL                     WD               8.4      Withdrawn
Saurav Chemicals Ltd            LT Issuer Rating       WD                        Withdrawn
Saurav Chemicals Ltd            Fund Based WC Limit    WD               300      Withdrawn
Saurav Chemicals Ltd            Fund Based WC Limit    WD               300      Withdrawn
Saurav Chemicals Ltd            NFB WC Limit           WD               87.5     Withdrawn
Saurav Chemicals Ltd            NFB WC Limit           WD               87.5     Withdrawn
Saurav Chemicals Ltd            TL                     WD               139.3    Withdrawn
Sea Hawk Agro Pvt Ltd           LT Issuer Rating       IND BB                    Assigned
Sea Hawk Agro Pvt Ltd           Fund Based WC Limit    IND BB           33       Assigned
Sea Hawk Agro Pvt Ltd           TL                     IND BB           38       Assigned
Shanti Ispat Ltd                LT Issuer Rating       WD                        Withdrawn
Shanti Ispat Ltd                Fund Based WC Limit    WD               60       Withdrawn
Shanti Ispat Ltd                Fund Based WC Limit    WD               60       Withdrawn
Shanti Ispat Ltd                NFB WC Limit           WD               5        Withdrawn
Shanti Ispat Ltd                TL                     WD               29.29    Withdrawn
Shree Prithvi Alloys Pvt Ltd    LT Issuer Rating       WD                        Withdrawn
Shree Prithvi Alloys Pvt Ltd    Fund Based WC Limit    WD               82       Withdrawn
Shree Prithvi Alloys Pvt Ltd    NFB WC Limit           WD               50       Withdrawn
Shree Prithvi Alloys Pvt Ltd    TL                     WD               60.27    Withdrawn
Shree Raj Fashion Fabrics       LT Issuer Rating       WD                        Withdrawn
Shree Raj Fashion Fabrics       Fund Based WC Limit    WD               10       Withdrawn
Shree Raj Fashion Fabrics       TL                     WD               57.84    Withdrawn
Singhal Commodities Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Singhal Commodities Pvt Ltd     Fund Based WC Limit    WD               50       Withdrawn
Singhal Commodities Pvt Ltd     NFB WC Limit           WD               20       Withdrawn
Singhal Commodities Pvt Ltd     TL                     WD               5        Withdrawn
Sps Yarns Pvt Ltd               LT Issuer Rating       WD                        Withdrawn
Sps Yarns Pvt Ltd               Fund Based WC Limit    WD               34.5     Withdrawn
Sps Yarns Pvt Ltd               TL                     WD               93.67    Withdrawn
Sumer Sons Autotech Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Sumer Sons Autotech Pvt Ltd     Fund Based WC Limit    WD               140      Withdrawn
Sumer Sons Autotech Pvt Ltd     Fund Based WC Limit    WD               140      Withdrawn
Sunshine Vegetables Pvt Ltd     LT Issuer Rating       IND BB-                   Assigned
Sunshine Vegetables Pvt Ltd     Fund Based WC Limit    IND BB-          15       Assigned
Sunshine Vegetables Pvt Ltd     TL                     IND BB-          70       Assigned
Super Jewellers Pvt. Ltd.       LT Issuer Rating       WD                        Withdrawn
Super Jewellers Pvt. Ltd.       Fund Based WC Limit    WD               90       Withdrawn
Super Jewellers Pvt. Ltd.       Fund Based WC Limit    WD               90       Withdrawn
Supreme Infrastructure India LtdLT Issuer Rating       IND D                     Affirmed
Supreme Infrastructure India LtdCC                     IND D            6250     Affirmed
Supreme Infrastructure India LtdCC                     IND D            6250     Affirmed
Supreme Infrastructure India LtdNFB WC Limit           IND D            8000     Affirmed
Supreme Infrastructure India LtdNFB WC Limit           IND D            8000     Affirmed
Supreme Infrastructure India LtdTL                     IND D            4689     Affirmed
Texorange Corporation Ltd.      LT Issuer Rating       WD                        Withdrawn
Texorange Corporation Ltd.      Fund Based WC Limit    WD               291.5    Withdrawn
Transstroy Krishnagiri          Bk Loan                WD               3650     Withdrawn
Tindivanam Highways Pvt Ltd
Transstroy Tirupati Tiruthani   Bk Loan                WD               4050     Withdrawn
Chennai Tollways Pvt Ltd
Trinity Infrapark Llp           LT Issuer Rating       WD                        Withdrawn
Trinity Infrapark Llp           Fund Based WC Limit    WD               204.5    Withdrawn
Udaya Shetty                    LT Issuer Rating       WD                        Withdrawn
Udaya Shetty                    Fund Based WC Limit    WD               55       Withdrawn
Udaya Shetty                    NFB WC Limit           WD               45       Withdrawn
Udaya Shetty                    TL                     WD               30.2     Withdrawn
Usha Martin Ltd                 LT Issuer Rating       IND BBB-                  Downgraded
                                                                                 from IND BBB
Usha Martin Ltd                 Fund Based WC Limit    IND BBB-         6000     Downgraded
                                                                                 from IND BBB
Usha Martin Ltd                 NFB WC Limit           IND BBB-         1500     Downgraded
                                                                                 from IND BBB
Usha Martin Ltd                 TL                     IND BBB-         38807.5  Downgraded
                                                                                 from IND BBB
Usha Martin Ltd                 TL                     IND BBB-         3150     Provisional
Usha Martin Ltd                 Bond                   WD               4000     Withdrawn
Usha Martin Ltd                 NFB WC Limit           WD               1500     Withdrawn
Vedanta Ltd                     LT Issuer Rating       IND AA                    Affirmed
Vedanta Ltd                     Bk Loan                IND AA           5000     Affirmed
Vedanta Ltd                     NCD                    IND AA           57000    Affirmed
Vedanta Ltd                     TL                     IND AA           50000    Affirmed
Vedanta Ltd                     TL                     WD               5000     Withdrawn
Vedanta Ltd                     TL                     WD               5000     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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