May 18, 2017 / 5:19 AM / 3 months ago

India Ratings for Indian debt instruments – May 18

    May 18 (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 17, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Carrier Wheels Pvt Ltd          Non- fund- based WC    IND A4           7.5      Migrated to
                                limit                                            Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Idbi Bank Ltd                   Certificates of        IND A1+          160      Affirmed
                                deposits
Quality Industries              Non- fund- based WC    IND A4+          150      Migrated to
                                limit                                            Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Satnam Industries               Non- fund- based limit IND A4           20       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd        NCDs                   IND AA+          20       Assigned
Carrier Wheels Pvt Ltd          Fund- based WC limit   IND B/IND A4     42.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Carrier Wheels Pvt Ltd          Proposed fund- based   Provisional IND  40       Migrated to
                                WC limit               B/Provisional             Non-
                                                       IND A4                    Cooperating
Category
(ISSUER NOT COOPERATING)
Hindustan Aegis Lpg Ltd         Non- fund- based limitsWD               1250     Withdrawn
                                                                                 (repaid in
                                                                                 full)
Idbi Bank Ltd                   Upper Tier II          IND A-           3.5      Downgraded
                                subordinated bond
                                programme
Idbi Bank Ltd                   AT1 perpetual debt     IND A-           50       Downgraded
Idbi Bank Ltd                   Basel III- compliant   IND AA           20       Downgraded
                                bonds*
*Yet to be issued
Idbi Bank Ltd                   Omni infrastructure    IND AA           80       Downgraded
                                bonds
Idbi Bank Ltd                   Basel III- complaint   IND AA           30       Downgraded
                                Tier II bonds
Idbi Bank Ltd                   Senior debt            IND AA           71.2     Downgraded
Idbi Bank Ltd                   Lower Tier II bonds    IND AA           37.7     Downgraded
Idbi Bank Ltd                   Deposit rating         IND tAA+         -        Downgraded
K. L. Rathi Steels Ltd          Fund- based limits     IND BB/IND A4+   400      Assigned
K. L. Rathi Steels Ltd          Non- fund- based limitsIND BB/IND A4+   10       Assigned
L.Madanlal (Aluminium) Ltd      Fund- based limits     IND BB- /IND A4+ 60       Affirmed
Ongc Petro Additions Ltd        CCDs*                  IND AAA(SO)      16710    Assigned
*assigned final rating
Platinum Trust February 2017 –  PTC (PTCs)- Series A   IND AAA(SO)      2944     Assigned
Tranche Ii
Platinum Trust February 2017 –  Second loss credit     IND BBB(SO)      154.6    Assigned
Tranche Ii                      facility (SLCF)
Quality Industries              TL                     IND BB+          3.33     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Quality Industries              Fund- based WC limit   IND BB+/IND A4+  81.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sadasivapet Municipality        Long- Term Issuer      IND B+                    Assigned
                                Rating
Sangareddy Municipality         Long- Term Issuer      IND B+                    Assigned
                                Rating
Satnam Industries               Fund- based WC limit   IND B+           50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Satnam Industries               TL                     IND B+           19.6     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Tandur Municipality             Long- Term Issuer      IND B+                    Assigned
                                Rating
Vadodara Bharuch Tollway Ltd    Project Bk loans*      IND A            384.2    Affirmed
* INR339.3 million outstanding
Vadodara Bharuch Tollway Ltd    NCDs                   IND A            2880     Affirmed
Vadodara Bharuch Tollway Ltd    NCDs                   IND A            2500     Affirmed
Vadodara Bharuch Tollway Ltd    NCDs                   IND A            3975     Affirmed
Vikarabad Municipality          Long- Term Issuer      IND B                     Assigned
                                Rating
Zaheerabad Municipality         Long- Term Issuer      IND B                     Assigned
                                Rating

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