May 3, 2017 / 5:08 AM / 4 months ago

India Ratings for Indian debt instruments – May 3

    May 3 (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
May 2, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Frost & Sullivan India Pvt Ltd  FB limits              IND A2           120      Affirmed
(increased from INR95 mln)
Mishrilal Associates Pvt Ltd    Non-FB WC limit        IND A4           50.25    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sharma Construction Company     Non-FB WC limit        IND A4           30       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Uttarakhand Engineering         Non-FB limit           IND A4+          57.5     Assigned
Products Pvt Ltd

LONG TERM RATINGS:
-------------------
HDFC Da December 2010 – III     Second Loss Credit     IND AA-(SO)      57.7     Affirmed
                                Facility (SLCF)
HDFC Da December 2010 – III     Purchaser Payouts      IND AAA(SO)      307.8    Affirmed
In-Style Embroideries Pvt Ltd   TL                     IND BB-          52.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
In-Style Embroideries Pvt Ltd   Proposed TL            IND BB-          15       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
Provisional, (ISSUER NOT COOPERATING)
In-Style Embroideries Pvt Ltd   FB WC limit            IND BB-/ IND A4+ 12.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
In-Style Embroideries Pvt Ltd   Proposed FB WC limit   IND BB-/ IND A4+ 5        Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
Provisional , (ISSUER NOT COOPERATING)
Kandarp Constructions (I) Pvt   TL (LT)                IND D            100      Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kandarp Constructions (I) Pvt   FB WC limit (LT)       IND D/ IND D     60       Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Mahanadi Education Society      TL facility            IND BB           74.5     Assigned
Mahanadi Education Society      WC facility            IND BB           100      Assigned
Mishrilal Associates Pvt Ltd    FB WC limit            IND B/ IND A4    15       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Platinum Trust March 2016       Second loss credit     IND A(SO)        17.3     Affirmed
Tranche 1                       facility (SLCF)
Platinum Trust March 2016       Series A1 pass-through IND AAA (SO)     965      Affirmed
Tranche 1                       certificates (PTCs)
Platinum Trust March 2016       Series A2 PTCs         IND AAA (SO)     578.5    Affirmed
Tranche 1
Sharma Construction Company     FB WC limit            IND B+/ IND A4   62       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sis Hospital & Research Centre  TL                     IND B            62.38    Assigned
Uttarakhand Engineering         FB limit               IND BB-/ IND A4+ 40       Assigned
Products Pvt Ltd
Yogiraj Spinning Pvt Ltd        FB WC limit            IND BBB-         100      Assigned
Yogiraj Spinning Pvt Ltd        TL                     IND BBB-         263.01   Assigned

-----------------------------------------------------------------------------------------------
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)

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