Reuters logo
India Ratings for Indian debt instruments – Feb 15
February 15, 2017 / 8:16 AM / 7 months ago

India Ratings for Indian debt instruments – Feb 15

    Feb 15 (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
February 14, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Asia (Chennai) Engineering      Non-FB WC limits       IND A3+          200      Affirmed
HRA Sales                       Proposed non-FB WC     Provisional IND  25       Assigned
                                limits*                A4
*Provisional ratings are subject to approval by the bank. The company intends to increase its
current scale of operations for which additional fund and non-fund-based limits are required.
National Steel And Agro         Non-FB WC limits       IND A3           11995    Assigned
Industries
Reliance Infrastructure         CP                     Provisional IND  300      Assigned
                                                       A1+
Simplex Castings                Non-FB  limit          IND A3           500      Affirmed
Sun Steel Industries            Non-FB limits          IND A4           115      Downgraded
                                                                                 from IND A4+
The Bombay Burmah Trading Corp  CP*                    IND A1+          500      Assigned
*Over and above the existing working capital facility


LONG TERM RATINGS:
-------------------
Baddi Infrastructure            TL                     IND B-           52       Assigned
Calcom Cement India             TL                     IND A            6113.5   Assigned
Calcom Cement India             FB limits              IND A/A1         298      Assigned
Calcom Cement India             Non-FB limits          IND A/A1         78.8     Assigned
Capital Cables India            FB WC limits           IND BB- / IND A4+100      Assigned
Cescom                          Long-TL                IND A            5024.62  Affirmed
Cescom                          FB WC limits           IND A            500      Affirmed
Creative Clothex                FB WC limits           IND D            30       Assigned
Creative Clothex                Non-FB limits          IND D            4.5      Assigned
Creative Clothex                TL                     IND D            19       Assigned
Ganesh Sponge                   FB limit               IND D            260      Assigned
Ganesh Sponge                   TL                     IND D            116.5    Assigned
Hcl Infosystems                 TL                     IND A-           7000     Affirmed
Hcl Infosystems                 Non-FB Bk Fac          IND A- / IND A1  18000    Affirmed
Hcl Infosystems                 FB Bk Fac              IND A- / IND A1  3000     Affirmed
Hcl Infosystems                 Proposed NCDs (tranche Provisional IND  500      Affirmed
                                1)*                    A-
*The NCDs proceeds will be used for refinancing short-term upcoming debt maturities. The final
ratings are contingent upon the receipt of final documents conforming to the information already
received. 
Hcl Infosystems                 Proposed NCDs (tranche Provisional IND  500      Affirmed
                                2)*                    A-
*The NCDs proceeds will be used for refinancing short-term upcoming debt maturities. The final
ratings are contingent upon the receipt of final documents conforming to the information already
received. 
HRA Sales                       FB WC limits           IND B-/ IND A4   20       Assigned
HRA Sales                       Proposed FB WC limits* Provisional IND  30       Assigned
                                                       B- / Provisional
                                                       IND A4
*Provisional ratings are subject to approval by the bank. The company intends to increase its
current scale of operations for which additional fund and non-fund-based limits are required.
India Standard Loan Trust Xli   PTC (PTCs)- Series A   Provisional IND  879.7    Assigned
                                                       AA
India Standard Loan Trust Xli   Liquidity facility (LF)Provisional IND  8.797    Assigned
                                                       AAA
India Standard Loan Trust Xli   Second loss credit     Provisional IND B42.2     Assigned
                                facility (SLCF)
Kisan Proteins                  FB limits              IND BB-          95       Assigned
Leaseplan India                 Long-TL                IND AAA          8.3      Affirmed
Leaseplan India                 Long-TL                IND AAA          2        Assigned
Mfl Securitisation Trust -      Series A1 pass-through IND AA           365.2    Affirmed
XXXIII                          certificates (PTCs)
Mfl Securitisation Trust -      Series A2 PTCs         IND AA           11.7     Affirmed
XXXIII 
Mfl Securitisation Trust -      Liquidity facility (LF)IND AAA          11.2     Affirmed
XXXIII 
Mfl Securitisation Trust -      Second loss credit     IND BBB          45.5     Affirmed
XXXIII                          facility (SLCF)
National Steel And Agro         Long-TL                IND BBB-         156      Assigned
Industries
National Steel And Agro         FB WC limits           IND BBB-         2006     Assigned
Industries
National Steel And Agro         *Proposed FB WC Limits Provisional IND  1843     Assigned
Industries                                             BBB-
*The final rating will be assigned upon receipt of sanction letter by the agency.
Sansar Trust                    Second loss credit     IND A-           370.8    Affirmed
                                facility (SLCF
Sansar Trust                    Series A pass-through  IND AAA          872.8    Affirmed
                                certificates (PTCs)
Simplex Castings                FB limit               IND BBB-         500      Affirmed
Simplex Castings                TL                     IND BBB-         81.4     Affirmed
Simplex Castings                TL                     IND BBB-         65       Affirmed
Sun Steel Industries            FB limits              IND B+           60       Downgraded
                                                                                 from IND BB-
The Bombay Burmah Trading Corp  Proposed NCDs#         Provisional IND  500      Assigned
                                                       AA
#The above rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by BBTCL to the satisfaction of Ind-Ra. 
-----------------------------------------------------------------------------------------------
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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below