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FITCH ratings for Indian debt instruments-Aug 21
August 21, 2012 / 6:12 AM / 5 years ago

FITCH ratings for Indian debt instruments-Aug 21

Aug 21 (Reuters) - Below are the ratings awarded by Fitch Ratings India Private Ltd. (fitch)
for local debt instruments as of August 17 & 20, 2012.

COMPANY                       INSTRUMENT              RATING            AMOUNT   MOVEMENT
------                        ----------              ------            ------   ---------
Adhunik Corporation Ltd       Non-fund limits        Fitch A4+(ind)          220  AFfirmed


Adhunik Corporation Ltd       LT loans               Fitch BB(ind)          37.2  AFfirmed
Adhunik Corporation Ltd       FB WC limits           Fitch BB(ind)           550  AFfirmed
Chennai Water Desalination    TL                     Fitch BBB-(ind)        2333  AFfirmed
Dhanlaxmi:                    Subordinated debt      Fitch                   170  AFfirmed
                                                     BBB-(ind); RWN
Federal Bank Ltd              Subordinated debt      Fitch AA-(ind)         4500  AFfirmed
Satyam Auto Components Ltds   TL                     Fitch AA-(ind)         98.3  AFfirmed
Satyam Auto Components Ltds   FB WC limits           Fitch                   500  AFfirmed
South Indian Bank             Subordinated debt      Fitch A+(ind)          2650  AFfirmed
$: 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wd -Rating Stands Withdrawn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

FITCH 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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at

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