July 13, 2017 / 4:47 AM / 10 days ago

India Ratings for Indian debt instruments – Jul 13

6 Min Read

    Jul 13 (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
July 12, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Raj Woodart Interior Ltd        Non-FB WC limits       IND A4           40       Assigned
Shriram Transport Finance Co.   ST debt/CP programme^  IND A1+          15000    Affirmed
Ltd
^ Unutilised
Sonachi Industries Ltd          NFBF                   IND A4+          7.5      Assigned
Uti Liquid Cash Plan            ST                     IND A1+mfs       -        Affirmed
Uti Money Market Fund           ST                     IND A1+mfs       -        Affirmed

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd  Fixed deposit programmeIND tAA/RWE      -        Placed on RWE

LONG TERM RATINGS:
-------------------
Azafran Innovacion Ltd          Long-TL                IND B-           42       Affirmed
Azafran Innovacion Ltd          FB Fac                 IND B- / IND A4  20       Affirmed
Bses Rajdhani Power Ltd         TL                     IND BB-          2000     Assigned
Idfc Bank Ltd                   Senior bonds           IND AAA/RWE      422000   Placed on RWE
Idfc Bank Ltd                   Senior infra bonds     IND AAA/RWE      100000   Placed on RWE
Raj Woodart Interior Ltd        FB WC limits           IND B+ / IND A4  30       Assigned
Rama Power And Steel Pvt Ltd    FB WC limit            IND BB+          200      Assigned
Saraf Agencies Pvt Ltd          TL                     IND BBB-         2342.1   Upgraded from
                                                                                 IND BB
Secure Industries Pvt Ltd       TL                     IND BB           120      Assigned
Secure Industries Pvt Ltd       FB Fac                 IND BB / IND A4+ 180      Assigned
Shriram City Union Finance Ltd  Bk loan                IND AA/RWE       150000   Placed on RWE
Shriram City Union Finance Ltd  LT debt programme      IND AA/RWE       4500     Placed on RWE
Shriram Housing Finance Ltd     Bk loans               IND AA/RWE       15000    Placed on RWE
Shriram Housing Finance Ltd     NCD                    IND AA/RWE       7000     Placed on RWE
Shriram Transport Finance Co.   NCDs (NCDs)*           IND AA+          175000   Affirmed
Ltd
Shriram Transport Finance Co.   Subordinated debt*     IND AA+          26200    Affirmed
Ltd
Shriram Transport Finance Co.   Bk loans               IND AA+ / IND A1+130000   Affirmed
Ltd
Shriram Transport Finance Co.   Term deposit           tAA+             -        Affirmed
Ltd
Sonachi Industries Ltd          FBF                    IND BB / IND A4+ 142.5    Assigned
Uti Floating Rate Fund          LT                     IND AAAmfs       -        Affirmed
-----------------------------------------------------------------------------------------------
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; RWE- Rating Watch Evolving.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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