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India Ratings for Indian debt instruments – May 19
May 19, 2017 / 6:23 AM / in 5 months

India Ratings for Indian debt instruments – May 19

    May 19 (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 18, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Ghv Pvt Ltd                     Non-FB WC limits       IND A1+          2470     Upgraded from
                                                                                 IND A -
Hill-Brow Metallics             Non-FB limit           INDA4+           150      Migrated to
& Construction Pvt Ltd                                                            Non
                                                                                 -Cooperating
                                                                                 Category
Institute Of Management Studies ST Fac/ WC Fac         IND A+ / IND A1+ 350      Affirmed
(reduced from INR445)
M.G.Industries                  NFB WC                 IND A4           5        Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Shree Coal Carrier              Non-FB WC limit        IND A4+          65       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Sunil Kumar Agrawal             Non-FB limit           IND A3           85       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Surya Electricals & Engineers   Non-FB limit           IND A4+          31       Migrated to
Pvt Ltd                                                                          Non
                                                                                 -Cooperating
                                                                                 Category
Veendeep Oiltek Exports Pvt Ltd Non-FB limit           IND A4           40       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Kerala State Electronics        WCL                    IND B+ / IND A4  100      Assigned

LONG TERM RATINGS:
-------------------
Development Corporation Ltd’S
Dabang Metal Industries         TL (LT)                IND D            1.25     Assigned
Dabang Metal Industries         Fund based WC limits   IND D            55       Assigned
                                (LT/ST)
Dtc Securities Ltd’S            Proposed long-TL       IND BB           3050     Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Gayatri Weavers Pvt Ltd         TL                     IND A-(SO)       360      Assigned
Gayatri Weavers Pvt Ltd         TL                     IND A-(SO)       20       Assigned
Ghv Pvt Ltd                     TL                     -                460      Withdrawn
Ghv Pvt Ltd                     Proposed FB limits     -                500      Withdrawn
Ghv Pvt Ltd                     Proposed non-FB limits -                1510     Withdrawn
Ghv Pvt Ltd                     FB WC limits           IND A            740      Upgraded from
                                                                                 IND A -
(increased from INR460 mln)
Hill-Brow Metallics             FB WC limit            IND BB+          80       Migrated to
& Construction Pvt Ltd                                                           Non
                                                                                 -Cooperating
                                                                                 Category
Institute Of Management Studies Proposed TL*           IND A+           200      Assigned
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by IMS to the satisfaction of Ind-Ra.

Institute Of Management Studies TL                     IND A+ / IND A1+ 836.43   Affirmed
(reduced from INR917.92)
Lords Oriental Resorts          TL                     IND B+           126      Assigned
Developers
Lords Oriental Resorts          FBL                    IND B+           2.5      Assigned
Developers
M.G.Industries                  TL                     IND B+           19.1     Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
M.G.Industries                  FB WC                  IND B+           35.5     Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Pothys                          Long- TL               IND BBB-         40       Assigned
Pothys                          FB WC facility         IND BBB / IND A3+160      Assigned
Pothys Chennai                  LT loans               IND BBB          1275.2   Assigned
Pothys Fabrics                  LT loans               IND BBB          60       Assigned
Pothys Fabrics                  FB WC facility         IND BBB / IND A3+90       Assigned
Pothys Garments                 Long-TL                IND BBB          121.8    Assigned
Pothys Garments                 FB WC facility         IND BBB / IND A3+185      Assigned
Pothys Matchings                TL                     IND BBB          20       Assigned
Pothys Matchings                FB WC facility         IND BBB / IND A3+60       Assigned
Pothys Pvt Ltd                  TL                     IND BBB+         1584.9   Assigned
Pothys Pvt Ltd                  FB WC facility         IND BBB+ / IND A2940      Assigned
Pothys Textiles                 FB WC facility         IND BBB / IND A3+60       Assigned
Radhika Jewellers               FBL                    IND B+           650      Assigned
Shiv Shakti Modern Rice Mill    Proposed FB limits*    IND B            64.21    Assigned
Pvt Ltd
* The ratings are provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facilities by SSMRMPL to the satisfaction of Ind-Ra.

Shiv Shakti Modern Rice Mill    Proposed long-TL*      IND B            70.79    Assigned
Pvt Ltd
* The ratings are provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facilities by SSMRMPL to the satisfaction of Ind-Ra.

Shree Coal Carrier              FB WC limit            IND BB-          25       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Shree Krishna Steels            Non-FB facility        IND BB+          803      Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Shri Ramalinga Textiles         FB WC limits           IND BB           194      Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Srinivasa Agro Products         FBF                    IND BB- / IND A4+180      Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Sunil Kumar Agrawal             FB WC limit            IND BBB-         65       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
Surya Electricals & Engineers   FBL                    IND BB-          69       Migrated to
Pvt Ltd                                                                          Non
                                                                                 -Cooperating
                                                                                 Category
Veendeep Oiltek Exports Pvt Ltd FB limit               IND B+           50       Migrated to
                                                                                 Non
                                                                                 -Cooperating
                                                                                 Category
-----------------------------------------------------------------------------------------------
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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