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India Ratings for Indian debt instruments - Dec 29
December 29, 2016 / 6:46 AM / in 10 months

India Ratings for Indian debt instruments - Dec 29

Dec 29 (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 28, 2016.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Chemplast Sanmar Ltd            NFB WC Limit           IND A2+          10205    Upgraded
Himachal Power Products         Fund Based WC Limit    IND A1           250      Affirmed
Himachal Power Products         NFB WC Limit           IND A1           110      Affirmed
Infinite Computer Solutions (I) Fund/NFB WC Limit      IND A1+          160      Affirmed
Ltd
Infinite Computer Solutions (I) NFB WC Limit           IND A1+          389.5    Affirmed
Ltd
Jhajjar Power Ltd               CP                     IND A1+          8000     Affirmed
Microtek International Pvt Ltd  Fund Based WC Limit    IND A1           750      Affirmed
Microtek International Pvt Ltd  NFB WC Limit           IND A1           150      Affirmed
Mj Logistics Services Ltd       Fund Based WC Limit    IND A4+          42.5     Affirmed
Mj Logistics Services Ltd       Fund Based WC Limit    IND A4+          42.5     Affirmed
Precise Seamless Apparels Pvt   Fund Based WC Limit    IND A4+          150      Affirmed
Ltd
Precise Seamless Apparels Pvt   NFB WC Limit           IND A4+          80       Affirmed
Ltd
Precise Seamless Apparels Pvt   Fund Based WC Limit    IND A4+          150      Affirmed
Ltd
Precise Seamless Apparels Pvt   NFB WC Limit           IND A4+          80       Affirmed
Ltd
Shahi Exports Pvt Ltd           Fund Based WC Limit    IND A1+          4500     Affirmed
Shivalik Industries             Fund Based WC Limit    IND A1           250      Affirmed
Shivalik Industries             NFB WC Limit           IND A1           105      Affirmed
Srf Ltd                         CP                     IND A1+          1500     Affirmed
Srf Ltd                         Fund/NFB WC Limit      IND A1+          10570    Affirmed
Srf Ltd                         Fund/NFB WC Limit      IND A1+          1956.2   Provisional
Style Marketing Pvt Ltd         Fund Based WC Limit    IND A4+          130      Assigned
Suraksha Realty Ltd             NCD                    IND A1+(SO)      200      Provisional
Suraksha Realty Ltd             NCD                    IND A1+(SO)      400      Provisional
Universal Power Products        Fund Based WC Limit    IND A1           160      Affirmed
Universal Power Products        NFB WC Limit           IND A1           80       Affirmed
Visen Industries Ltd            NFB WC Limit           IND A2           4050     Downgraded
                                                                                 from IND A2+
Visen Industries Ltd            NFB WC Limit           IND A2           300      Provisional

LONG TERM RATINGS:
-------------------
Arshia Global Tradecom Pvt. Ltd.LT Issuer Rating       WD                        Withdrawn
Arshia Global Tradecom Pvt. Ltd.Fund Based WC Limit    WD               40       Withdrawn
Arshia Global Tradecom Pvt. Ltd.NFB WC Limit           WD               10       Withdrawn
Arshia Global Tradecom Pvt. Ltd.LT Issuer Rating       WD                        Withdrawn
Arshia Global Tradecom Pvt. Ltd.Fund Based WC Limit    WD               40       Withdrawn
Arshia Global Tradecom Pvt. Ltd.NFB WC Limit           WD               10       Withdrawn
Balmukund Concast Ltd           LT Issuer Rating       WD                        Withdrawn
Balmukund Concast Ltd           Fund Based WC Limit    WD               180      Withdrawn
Balmukund Concast Ltd           NFB WC Limit           WD               45       Withdrawn
Bansal Realtech Ltd             LT Issuer Rating       WD                        Withdrawn
Bansal Realtech Ltd             Fund Based WC Limit    WD               35       Withdrawn
Bansal Realtech Ltd             Fund Based WC Limit    WD               35       Withdrawn
Bansal Realtech Ltd             NFB WC Limit           WD               210      Withdrawn
Bansal Realtech Ltd             NFB WC Limit           WD               2        Withdrawn
Bharat Ispat Udyog              LT Issuer Rating       WD                        Withdrawn
Bharat Ispat Udyog              Fund Based WC Limit    WD               100      Withdrawn
Bharat Ispat Udyog              Fund Based WC Limit    WD               100      Withdrawn
Bhasin Industries Pvt. Ltd.     LT Issuer Rating       WD                        Withdrawn
Bhasin Industries Pvt. Ltd.     Fund Based WC Limit    WD               40       Withdrawn
Bhasin Industries Pvt. Ltd.     TL                     WD               41.5     Withdrawn
Bhatia Coal Tradelink           LT Issuer Rating       WD                        Withdrawn
Bhatia Coal Tradelink           Fund Based WC Limit    WD               35       Withdrawn
Bhatia Coal Tradelink           TL                     WD               47.5     Withdrawn
Chemplast Sanmar Ltd            LT Issuer Rating       IND A-                    Upgraded from
                                                                                 IND BBB+
Chemplast Sanmar Ltd            Fund Based WC Limit    IND A-           1080     Upgraded from
                                                                                 IND BBB+
Chemplast Sanmar Ltd            TL                     IND A-           3320     Upgraded from
                                                                                 IND BBB+
Ganpati Infrastructure          LT Issuer Rating       WD                        Withdrawn
Development Co. Ltd
Ganpati Infrastructure          TL                     WD               130      Withdrawn
Development Co. Ltd
Green Village Agros Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Green Village Agros Pvt Ltd     Fund Based WC Limit    WD               185      Withdrawn
Green Village Agros Pvt Ltd     Fund Based WC Limit    WD               185      Withdrawn
Green Village Agros Pvt Ltd     TL                     WD               7.5      Withdrawn
Himachal Power Products         LT Issuer Rating       IND A                     Affirmed
Himachal Power Products         Fund Based WC Limit    IND A            250      Affirmed
Himachal Power Products         NFB WC Limit           IND A            110      Affirmed
Hydrotech Paryavaran (I) Pvt LtdLT Issuer Rating       WD                        Withdrawn
Hydrotech Paryavaran (I) Pvt LtdFund Based WC Limit    WD               60       Withdrawn
Hydrotech Paryavaran (I) Pvt LtdFund Based WC Limit    WD               60       Withdrawn
Hydrotech Paryavaran (I) Pvt LtdNFB WC Limit           WD               60       Withdrawn
Imcola Crane Company Pvt Ltd    BG                     IND BBB          24.6     Affirmed
Imcola Crane Company Pvt Ltd    TL                     IND BBB          382.4    Affirmed
Imcola Crane Company Pvt Ltd    BG                     IND BBB          24.6     Affirmed
Imcola Crane Company Pvt Ltd    TL                     IND BBB          382.4    Affirmed
Imcola Crane Company Pvt Ltd    TL                     WD               82       Withdrawn
Imcola Crane Company Pvt Ltd    TL                     WD               82       Withdrawn
India Frozen Foods              LT Issuer Rating       WD                        Withdrawn
India Frozen Foods              TL                     WD               42.97    Withdrawn
India Frozen Foods              TL                     WD               7.5      Withdrawn
Indian School Finance Company   Bk Loan                IND BBB-         200      Upgraded from
Pvt Ltd                                                                          IND BB+
Indian School Finance Company   NCD                    IND BBB-         245      Upgraded from
Pvt Ltd                                                                          IND BB+
Infinite Computer Solutions (I) LT Issuer Rating       IND AA-                   Affirmed
Ltd
Infinite Computer Solutions (I) Fund/NFB WC Limit      IND AA-          160      Affirmed
Ltd
J.K. Electric Contractor        LT Issuer Rating       WD                        Withdrawn
J.K. Electric Contractor        Fund Based WC Limit    WD               10       Withdrawn
J.K. Electric Contractor        Fund Based WC Limit    WD               10       Withdrawn
J.K. Electric Contractor        NFB WC Limit           WD               70       Withdrawn
Jalnidhi Bitumen Specialities   LT Issuer Rating       WD                        Withdrawn
Pvt Ltd
Jalnidhi Bitumen Specialities   Fund Based WC Limit    WD               164      Withdrawn
Pvt Ltd
Jalnidhi Bitumen Specialities   NFB WC Limit           WD               57       Withdrawn
Pvt Ltd
Jhajjar Power Ltd               Bond                   IND A+           2230     Affirmed
Jhajjar Power Ltd               External Commercial    IND A+           USD462   Affirmed
                                Borrowing
Jhajjar Power Ltd               Fund/NFB WC Limit      IND A+           10000    Affirmed
Jhajjar Power Ltd               Fund/NFB WC Limit      IND A+           2500     Affirmed
Jhajjar Power Ltd               TL                     IND A+           16970    Affirmed
Jhajjar Power Ltd               Bond                   IND AA+(SO)      4760     Affirmed
Jindal Photo Ltd                LT Issuer Rating       WD                        Withdrawn
Jindal Photo Ltd                Fund Based WC Limit    WD               255      Withdrawn
Jindal Photo Ltd                Fund Based WC Limit    WD               255      Withdrawn
Jindal Photo Ltd                NFB WC Limit           WD               1550     Withdrawn
Jindal Photo Ltd                NFB WC Limit           WD               1550     Withdrawn
K.K. Duplex & Paper Mills Pvt   Fund Based WC Limit    IND D            32.5     Downgraded
Ltd                                                                              from IND B-
K.K. Duplex & Paper Mills Pvt   NFB WC Limit           IND D            2.5      Downgraded
Ltd                                                                              from IND B-
K.K. Duplex & Paper Mills Pvt   LT Issuer Rating       IND D                     Downgraded
Ltd                                                                              from IND B-
K.K. Duplex & Paper Mills Pvt   Fund Based WC Limit    IND D            32.5     Downgraded
Ltd                                                                              from IND B-
K.K. Duplex & Paper Mills Pvt   TL                     IND D            77       Downgraded
Ltd                                                                              from IND B-
K.S. Commodities Pvt Ltd        LT Issuer Rating       WD                        Withdrawn
K.S. Commodities Pvt Ltd        Fund Based WC Limit    WD               300      Withdrawn
K.S. Commodities Pvt Ltd        Fund Based WC Limit    WD               300      Withdrawn
K.S. Commodities Pvt Ltd        NFB WC Limit           WD               60       Withdrawn
K.S. Commodities Pvt Ltd        NFB WC Limit           WD               60       Withdrawn
Kanhaiya Beverages Pvt Ltd      LT Issuer Rating       WD                        Withdrawn
Kanhaiya Beverages Pvt Ltd      Fund Based WC Limit    WD               49       Withdrawn
Kanhaiya Beverages Pvt Ltd      Fund Based WC Limit    WD               49       Withdrawn
Kanhaiya Beverages Pvt Ltd      TL                     WD               17       Withdrawn
Krishna Chandra Patra           LT Issuer Rating       WD                        Withdrawn
Krishna Chandra Patra           Fund Based WC Limit    WD               31.5     Withdrawn
Krishna Chandra Patra           NFB WC Limit           WD               25       Withdrawn
Krishna Chandra Patra           TL                     WD               1.8      Withdrawn
Kudgi Transmission Ltd          Bk Loan                IND A+           10290    Upgraded from
                                                                                 IND A-
Mfl Securitisation Trust - XlviiSeries A1 PTC          IND AA(SO)       3145.2   Provisional
Mfl Securitisation Trust - XlviiSeries A2 PTC          IND AA(SO)       131.1    Provisional
Mfl Securitisation Trust - XlviiLiquidity Facility     IND AAA(SO)      57.3     Provisional
Mfl Securitisation Trust - XlviiSecond Loss Credit     IND BBB(SO)      286.7    Assigned
                                Facility
Microtek International Pvt Ltd  LT Issuer Rating       IND A                     Affirmed
Microtek International Pvt Ltd  Fund Based WC Limit    IND A            750      Affirmed
Microtek International Pvt Ltd  NFB WC Limit           IND A            150      Affirmed
Microtek International Pvt Ltd  TL                     IND A            120      Affirmed
Mifl Securitisation Trust Xv    Series A1 PTC          IND AA(SO)       295.6    Provisional
Mifl Securitisation Trust Xv    Series A2 PTC          IND AA(SO)       4.3      Provisional
Mifl Securitisation Trust Xv    Liquidity Facility     IND AAA(SO)      5.2      Provisional
Mifl Securitisation Trust Xv    Second Loss Credit     IND BBB(SO)      24.6     Assigned
                                Facility
Mj Logistics Services Ltd       LT Issuer Rating       IND BB+                   Affirmed
Mj Logistics Services Ltd       Fund Based WC Limit    IND BB+          42.5     Affirmed
Mj Logistics Services Ltd       TL                     IND BB+          63.8     Affirmed
Mj Logistics Services Ltd       LT Issuer Rating       IND BB+                   Affirmed
Mj Logistics Services Ltd       Fund Based WC Limit    IND BB+          42.5     Affirmed
Mj Logistics Services Ltd       TL                     IND BB+          63.8     Affirmed
Ms Solvex Pvt Ltd               LT Issuer Rating       WD                        Withdrawn
Ms Solvex Pvt Ltd               Fund Based WC Limit    WD               60       Withdrawn
Ms Solvex Pvt Ltd               TL                     WD               180      Withdrawn
Navkar Iron & Steels Pvt. Ltd.  LT Issuer Rating       WD                        Withdrawn
Navkar Iron & Steels Pvt. Ltd.  Fund Based WC Limit    WD               45       Withdrawn
Navkar Iron & Steels Pvt. Ltd.  TL                     WD               15       Withdrawn
Oriental Engineering Works Pvt  LT Issuer Rating       WD                        Withdrawn
Ltd
Oriental Engineering Works Pvt  Fund Based WC Limit    WD               45       Withdrawn
Ltd
Oriental Engineering Works Pvt  Fund Based WC Limit    WD               45       Withdrawn
Ltd
Oriental Engineering Works Pvt  NFB WC Limit           WD               8.2      Withdrawn
Ltd
Oriental Engineering Works Pvt  TL                     WD               23.8     Withdrawn
Ltd
Pacific Constructions           LT Issuer Rating       WD                        Withdrawn
Pacific Constructions           Fund Based WC Limit    WD               28.6     Withdrawn
Pacific Constructions           Fund Based WC Limit    WD               28.6     Withdrawn
Pacific Constructions           NFB WC Limit           WD               50       Withdrawn
Palriwal Industries Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Palriwal Industries Pvt Ltd     Fund Based WC Limit    WD               230      Withdrawn
Palriwal Industries Pvt Ltd     NFB WC Limit           WD               118.1    Withdrawn
Palriwal Industries Pvt Ltd     TL                     WD               23       Withdrawn
Pan Time Finance Company Pvt.   LT Issuer Rating       WD                        Withdrawn
Ltd
Pan Time Finance Company Pvt.   TL                     WD               72.3     Withdrawn
Ltd
People Combine Avenues Ltd      Bk Loan                IND A            1500     Upgraded from
                                                                                 IND A-
People Combine Avenues Ltd      Fund Based WC Limit    IND A            60       Upgraded from
                                                                                 IND A-
People Combine Bengaluru        Bk Loan                WD               549.5    Withdrawn
Knowledge Institutions Pvt Ltd
People Combine Bengaluru        Fund Based WC Limit    WD               25       Withdrawn
Knowledge Institutions Pvt Ltd
People Combine Educational      Bk Loan                WD               52.5     Withdrawn
Initiatives Ltd
People Combine Educational      Fund Based WC Limit    WD               110      Withdrawn
Initiatives Ltd
People Combine Educational      NCD                    WD               430      Withdrawn
Initiatives Ltd
Pharmchem                       LT Issuer Rating       WD                        Withdrawn
Pharmchem                       Fund Based WC Limit    WD               50       Withdrawn
Pharmchem                       Fund Based WC Limit    WD               50       Withdrawn
Pharmchem                       NFB WC Limit           WD               99       Withdrawn
Pharmchem                       TL                     WD               3        Withdrawn
Pharmchem                       TL                     WD               30       Withdrawn
Prashant Motors Pvt Ltd         LT Issuer Rating       WD                        Withdrawn
Prashant Motors Pvt Ltd         Fund Based WC Limit    WD               47.88    Withdrawn
Prashant Motors Pvt Ltd         TL                     WD               6.42     Withdrawn
Precise Seamless Apparels Pvt   LT Issuer Rating       IND BB                    Affirmed
Ltd
Precise Seamless Apparels Pvt   Fund Based WC Limit    IND BB           150      Affirmed
Ltd
Precise Seamless Apparels Pvt   TL                     IND BB           110      Affirmed
Ltd
Precise Seamless Apparels Pvt   LT Issuer Rating       IND BB                    Affirmed
Ltd
Precise Seamless Apparels Pvt   Fund Based WC Limit    IND BB           150      Affirmed
Ltd
Precise Seamless Apparels Pvt   TL                     IND BB           110      Affirmed
Ltd
Pushpdeep Infrastructure Pvt LtdLT Issuer Rating       WD                        Withdrawn
Pushpdeep Infrastructure Pvt LtdFund Based WC Limit    WD               150      Withdrawn
Pushpdeep Infrastructure Pvt LtdFund Based WC Limit    WD               50       Withdrawn
Pushpdeep Infrastructure Pvt LtdFund Based WC Limit    WD               50       Withdrawn
Pushpdeep Infrastructure Pvt LtdFund Based WC Limit    WD               30       Withdrawn
Pushpdeep Infrastructure Pvt LtdFund Based WC Limit    WD               30       Withdrawn
R.K. Hoteliers & Developers Pvt LT Issuer Rating       WD                        Withdrawn
Ltd
R.K. Hoteliers & Developers Pvt TL                     WD               400      Withdrawn
Ltd
Ram Ratan Real Estate Pvt Ltd   LT Issuer Rating       WD                        Withdrawn
Ram Ratan Real Estate Pvt Ltd   TL                     WD               1000     Withdrawn
Rama Constructions Company      LT Issuer Rating       WD                        Withdrawn
Rama Constructions Company      Fund Based WC Limit    WD               30       Withdrawn
Rama Constructions Company      Fund Based WC Limit    WD               30       Withdrawn
Rama Constructions Company      NFB WC Limit           WD               800      Withdrawn
Rg Infracity Pvt Ltd            LT Issuer Rating       WD                        Withdrawn
Rg Infracity Pvt Ltd            TL                     WD               250      Withdrawn
Rsn Balaji Realtors Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Rsn Balaji Realtors Pvt Ltd     TL                     WD               125      Withdrawn
Rsn Balaji Realtors Pvt Ltd     LT Issuer Rating       WD                        Withdrawn
Rsn Balaji Realtors Pvt Ltd     TL                     WD               125      Withdrawn
Sanjose Supreme Tollways        Bk Loan                WD               7900     Withdrawn
Development Pvt Ltd
Sansar Trust December 2016      Second Loss Credit     IND A-(SO)       129.5    Provisional
                                Facility
Sansar Trust December 2016      Series A PTC           IND AAA(SO)      1786.7   Provisional
Sansar Trust December 2016 Iv   Second Loss Credit     IND A-(SO)       212.5    Provisional
                                Facility
Sansar Trust December 2016 Iv   Series A PTC           IND AA+(SO)      4249.9   Provisional
Sansar Trust October 2016 I     Second Loss Credit     IND A+(SO)       273.8    Assigned
                                Facility
Sansar Trust October 2016 I     Series A PTC           IND AAA(SO)      4602     Assigned
Shahi Exports Pvt Ltd           LT Issuer Rating       IND AA-                   Upgraded from
                                                                                 IND A+
Shahi Exports Pvt Ltd           Fund Based WC Limit    IND AA-          4500     Upgraded from
                                                                                 IND A+
Shahi Exports Pvt Ltd           TL                     IND AA-          3450     Upgraded from
                                                                                 IND A+
Shivalik Industries             LT Issuer Rating       IND A                     Affirmed
Shivalik Industries             Fund Based WC Limit    IND A            250      Affirmed
Shivalik Industries             NFB WC Limit           IND A            105      Affirmed
Shree Shakambari Ferro Alloys   LT Issuer Rating       WD                        Withdrawn
Pvt Ltd
Shree Shakambari Ferro Alloys   TL                     WD               540      Withdrawn
Pvt Ltd
Sikar Bikaner Highway Ltd       Bk Loan                IND BBB          4000     Affirmed
Sonali Autos Pvt Ltd            LT Issuer Rating       IND B+                    Assigned
Sonali Autos Pvt Ltd            Fund Based WC Limit    IND B+           430      Assigned
Sonali Autos Pvt Ltd            TL                     IND B+           18.3     Assigned
Srf Ltd                         LT Issuer Rating       IND AA                    Affirmed
Srf Ltd                         Fund/NFB WC Limit      IND AA           10570    Affirmed
Srf Ltd                         Fund/NFB WC Limit      IND AA           1956.2   Provisional
Srf Ltd                         NCD                    IND AA           2000     Affirmed
Srf Ltd                         TL                     IND AA           3473.8   Affirmed
Srf Ltd                         NCD                    WD               1500     Withdrawn
Sri Vidya Milk Products         LT Issuer Rating       WD                        Withdrawn
Sri Vidya Milk Products         Fund Based WC Limit    WD               13.5     Withdrawn
Sri Vidya Milk Products         TL                     WD               100      Withdrawn
Stock Redler India Pvt Ltd      LT Issuer Rating       WD                        Withdrawn
Stock Redler India Pvt Ltd      Fund Based WC Limit    WD               80       Withdrawn
Stock Redler India Pvt Ltd      NFB WC Limit           WD               255      Withdrawn
Style Marketing Pvt Ltd         LT Issuer Rating       IND BB-                   Assigned
Style Marketing Pvt Ltd         Fund Based WC Limit    IND BB-          130      Assigned
Surajmal Jainarayan             LT Issuer Rating       WD                        Withdrawn
Surajmal Jainarayan             Fund Based WC Limit    WD               70       Withdrawn
Suraksha Realty Ltd             NCD                    IND AA-(SO)      200      Provisional
Suraksha Realty Ltd             NCD                    IND AA-(SO)      200      Provisional
Swami Vivekanand Institute Of   LT Issuer Rating       WD                        Withdrawn
Neurology, Neurosurgery And
Spine
Swami Vivekanand Institute Of   TL                     WD               55.59    Withdrawn
Neurology, Neurosurgery And
Spine
Tata Chemicals Ltd              LT Issuer Rating       WD                        Withdrawn
Tata Chemicals Ltd              Bk Loan                WD               36000    Withdrawn
Tata Chemicals Ltd              Bk Loan                WD               36000    Withdrawn
Tata Chemicals Ltd              CP                     WD               2000     Withdrawn
Universal Power Products        LT Issuer Rating       IND A                     Affirmed
Universal Power Products        Fund Based WC Limit    IND A            160      Affirmed
Universal Power Products        NFB WC Limit           IND A            80       Affirmed
Vardan Intensive Care Hospital  LT Issuer Rating       WD                        Withdrawn
Pvt Ltd
Vardan Intensive Care Hospital  Fund Based WC Limit    WD               100      Withdrawn
Pvt Ltd
Vardan Intensive Care Hospital  TL                     WD               113.04   Withdrawn
Pvt Ltd
Vikram Solar Pvt Ltd            LT Issuer Rating       WD                        Withdrawn
Vikram Solar Pvt Ltd            Fund Based WC Limit    WD               1400     Withdrawn
Vikram Solar Pvt Ltd            NFB WC Limit           WD               2000     Withdrawn
Vikram Solar Pvt Ltd            TL                     WD               1117.2   Withdrawn
Visen Industries Ltd            LT Issuer Rating       IND BBB                   Downgraded
                                                                                 from IND BBB+
Visen Industries Ltd            TL                     IND BBB          600      Downgraded
                                                                                 from IND BBB+
Visen Industries Ltd            NFB WC Limit           WD               750      Withdrawn
Vivo Mobile India Pvt Ltd       LT Issuer Rating       IND BB                    Assigned
Vivo Mobile India Pvt Ltd       NCD                    IND BB           7000     Assigned
Wellman Carbo Metalicks (I) Ltd NFB WC Limit           WD               560      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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