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India Ratings for Indian debt instruments – Feb 23
February 23, 2017 / 10:37 AM / 7 months ago

India Ratings for Indian debt instruments – Feb 23

   Feb 23 (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 22, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------   ---------
SHORT TERM RATINGS:
-------------------
Au Financiers (I) Ltd           CP                     IND A1+          15       Affirmed
Eagle Fibres Pvt Ltd            Non-FB limits          IND A4+          60       Assigned
Kmk Event Management Ltd        Non-FB limits          IND A4+          28       Assigned
Pc Jeweller Ltd                 CP*                    IND A1+          3000     Assigned
*The CP programme is carved out of the fund-based working capital banking lines. 
Pc Jeweller Ltd                 CP*                    IND A1+          2000     Assigned
*The CP programme is carved out of the fund-based working capital banking lines.
Prince Industries               Non-FB limits          IND A3           100      Assigned
Sanghi Industries Ltd           Non-FB limits          IND A2+          150      Assigned


LONG TERM RATINGS:
-------------------
Aditya Birla Retail Ltd         NCDs                   IND A+                    Assigned
Au Financiers (I) Ltd           Bk loans               IND A+           7.45     Affirmed
Au Financiers (I) Ltd           NCDs                   IND A+           17.5     Affirmed
Au Financiers (I) Ltd           NCDs                   IND A+           10       Affirmed
Au Financiers (I) Ltd           Subordinated debts     IND A+           1.5      Affirmed
Ballarpur Industries Ltd        Non-convertible        IND C            5000     Downgraded
                                debenture (NCDs)                                 from IND BBB-
Ballarpur Industries Ltd        CP                     IND C            2470     Downgraded
                                                                                 from IND BBB-
Ballarpur Industries Ltd        TL                     IND D            490      Downgraded
                                                                                 from IND BBB-
Ballarpur Industries Ltd        FB and Non-FB WC limitsIND D/IND D      7520     Downgraded
                                                                                 from IND BBB-
Bilt Graphic Paper Products Ltd NCDs                   IND C            8500     Downgraded
Bilt Graphic Paper Products Ltd CP                     IND C            3880     Downgraded
Bilt Graphic Paper Products Ltd TL                     IND D            4760     Downgraded
                                                                                 from IND BBB-
Bilt Graphic Paper Products Ltd FB and non-FB WC limitsIND D/IND D      8700     Downgraded
                                                                                 from IND BBB-
Eagle Fibres Pvt Ltd            FB limits              IND BB           240      Assigned
Securevalue India Limited       TL#                    IND A-(SO)       503.8    Assigned
# The maturity date range is for vehicle loans, which have been classified under term loans.
SVIL has a bank term loan maturing in July 2019. 
Securevalue India Limited       Non-FB WC Bk Fac*      IND A-(SO) / IND 280      Assigned
                                                       A1(SO)
* Includes an INR140 million sublimit of fund-based working capital facilities
Kmk Event Management Ltd        FB limits              IND BB+          40       Assigned
Mantilal Umraomal               FB limits              IND BB-          50       Assigned
Sanghi Industries Ltd           FB limits              IND A-           1500     Assigned
Sanghi Industries Ltd           Proposed FBL*          IND A-           350      Assigned
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by SIL to the satisfaction of Ind-Ra. 
Sembcorp Gayatri Power Ltd      Rupee TL               IND BBB-         61396    Upgraded
Sembcorp Gayatri Power Ltd      NFB (BG) facility      IND BBB-         1400     Upgraded
Sembcorp Gayatri Power Ltd      Rupee TL               IND D            61396    Downgraded
Sembcorp Gayatri Power Ltd      Non-FB (BG) facility   IND D            1400     Downgraded
Sree Aksya Trading Company      FB WC                  IND B+ /IND A4   49       Assigned
Wadhwa Realty Pvt Ltd           TL                                      2000     Withdrawn
Western U.P. Power Transmission Rupee TL               IND BBB          37717.2  Affirmed
Company 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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