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India Ratings for Indian debt instruments – May 16
May 16, 2017 / 3:50 AM / 4 months ago

India Ratings for Indian debt instruments – May 16

    May 16 (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 15, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Calance Software Pvt Ltd        Non- FB WC limits      IND A4+          20       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
G.S. Cotton Company             Proposed non- FB WC    Provisional IND  40       Migrated to
                                limit                  A4                        Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gem Motors (I) Pvt Ltd          Non- FB limit          IND A4           50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gupta & Sons (Motors) Pvt Ltd’  Non- FB limits         IND A4+          20       Affirmed
(increased from 10 mln)
Khare & Tarkunde Infrastructure Non- FB limit          IND A4+          1003.1   Migrated to
Pvt Ltd                                                                          Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kkp Spinning Mills Pvt Ltd      Non- FB Fac            IND A3           172.9    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kuna Impex Pvt Ltd              Non- FB limits         IND A4+          55       Assigned
Pure Petrochem India Pvt Ltd    Non- FB WC limits      IND A4+          20       Assigned
Shree Tirupati Balajee Agro     Non- FB limit          IND A3           220      Migrated to
Trading Company Pvt Ltd                                                          Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Aravind Ceramics Pvt Ltd        FB limits              IND BB- / IND A4+430      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Calance Software Pvt Ltd        TL                     IND BB+          70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Calance Software Pvt Ltd        FB WC limits           IND BB+/ IND A4+ 30       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
G.S. Cotton Company             FB WC limit            IND B+/ IND A4   40       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
G.S. Cotton Company             Proposed FB WC limit   Provisional IND  20       Migrated to
                                                       B+/ Provisional           Non-
                                                       IND A4                    Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gem Motors (I) Pvt Ltd          FB limit               IND B            150      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gem Motors (I) Pvt Ltd          Proposed FB limits     Provisional IND B150      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gupta & Sons (Motors) Pvt Ltd’  FB limits              IND BB           60       Affirmed
(reduced from 70 mln)
Ircon- Soma Tollway Pvt Ltd     Senior project Bk loansIND BBB+         3813     Affirmed;
                                                                                 Outlook
                                                                                 revised to
Positive from Stable
(outstanding INR1,268 as on 30 April 2017)
Itms India Pvt Ltd              FB WC facility         IND BB- / IND A4+20       Assigned
Khare & Tarkunde Infrastructure TL                     IND BB+          181      Migrated to
Pvt Ltd                                                                          Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Khare & Tarkunde Infrastructure FB limit               IND BB+/ IND A4+ 425      Migrated to
Pvt Ltd                                                                          Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kkp Spinning Mills Pvt Ltd      Long- TL               IND BBB-         279      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kkp Spinning Mills Pvt Ltd      FB Fac                 IND BBB- / IND A3500      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kuna Impex Pvt Ltd              FB limits              IND BB-          57.5     Assigned
Kuna Impex Pvt Ltd              TL                     IND BB-          6.18     Assigned
Mm Trust Mar 15 I               Series A pass- through IND AA+(SO)      191.16   Affirmed
                                certificates (PTCs)
Oriilon India Pvt Ltd           TL                     IND BB+          63       Assigned
Oriilon India Pvt Ltd           TL                     IND BB+          30       Assigned
Oriilon India Pvt Ltd           TL                     IND BB+          87       Assigned
Oriilon India Pvt Ltd           FB WC limits           IND BB+/ IND A4+ 150      Assigned
Pure Petrochem India Pvt Ltd    TL limits              IND BB-          20.6     Assigned
Pure Petrochem India Pvt Ltd    FB WC limits           IND BB- / IND A4+45       Assigned
Pure Petrochem India Pvt Ltd    Proposed FB WC limits  Provisional IND  34.4     Assigned
                                                       BB- /
                                                       Provisional IND A4+
Savorit Ltd                     TL                     IND B+           82.66    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Savorit Ltd                     FB limit               IND B+/ IND A4   70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Savorit Ltd                     Non- FBL               IND B+/ IND A4   97.34    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shree Tirupati Balajee Agro     TL                     IND BBB-         50       Migrated to
Trading Company Pvt Ltd                                                          Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shree Tirupati Balajee Agro     FB limit               IND BBB- / IND   480      Migrated to
Trading Company Pvt Ltd                                A3                        Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Stallion Investments Pvt Ltd    TL                     IND BB           47.19    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

-----------------------------------------------------------------------------------------------
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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