January 5, 2017 / 7:13 AM / 8 months ago

India Ratings for Indian debt instruments - Jan 5

Jan 5 (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
January 4, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Eastman Exports Global Clothing FB WC                  IND A1           5656     Affirmed
(P) Ltd
(increased from 4726 mln)
Eastman Exports Global Clothing Non-FB WC              IND A1           270      Affirmed
(P) Ltd
(reduced from 370 mln)
Mytrah Energy (I) Pvt Ltd       Bk loans               IND A3+          12500    Affirmed
Penna Cement Industries Ltd     Bk Loans               IND A1+          3500     Assigned
Penna Cement Industries Ltd     CP                     IND A1+          500      Assigned
Radha Steel                     FB WC limits           IND A4+          240      Affirmed

LONG TERM RATINGS:
-------------------
Eastman Exports Global Clothing TL                     IND A            264      Affirmed
(P) Ltd
(increased from 112.8 mln)
Eastman Exports Global Clothing FB WC                  IND A            5656     Affirmed
(P) Ltd
(increased from 4726 mln)
India Standard Loan Trust-Xl    PTC (PTCs) - Series A  Provisional      1566.38  Assigned
                                                       IND A(SO)
India Standard Loan Trust-Xl    Liquidity Facility (LF)Provisional IND  15.7     Assigned
                                                       AAA(SO)
India Standard Loan Trust-Xl    Second Loss Credit     Provisional IND  53.26    Assigned
                                Facility (SLCF)        BBB(SO)
Leitwind Shriram Manufacturing  TL                     IND D            2465.9   Affirmed
Ltd
Leitwind Shriram Manufacturing  FB WC                  IND D            1900     Affirmed
Ltd
Leitwind Shriram Manufacturing  FB WC                  IND D            1900     Affirmed
Ltd
Leitwind Shriram Manufacturing  Non-FB WC              IND D            1620.1   Affirmed
Ltd
Leitwind Shriram Manufacturing  Non-FB WC              IND D            1620.1   Affirmed
Ltd
Mangalayatan University         TL, PNB                IND B+           54.79    Assigned
Mangalayatan University         TL, RHFL               IND B+           260.46   Assigned
Mytrah Energy (I) Pvt Ltd       Bk loans               IND BBB          2500     Affirmed
Mytrah Energy (I) Pvt Ltd       NCDs                   IND BBB          7424     Affirmed
Penna Cement Industries Ltd     NCDs                   IND AA-          350      Assigned
Penna Cement Industries Ltd     Bk Loans               IND AA-          11791.6  Assigned
Radha Steel                     FB WC limits           IND BB-          240      Affirmed
Shree Sukhakarta Developers Pvt NCDs (NCDs)            IND BB-          3500     Assigned
Ltd 
-----------------------------------------------------------------------------------------------
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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