May 14, 2014 / 5:33 AM / 4 years ago

India Ratings for Indian debt instruments - May 14

May 14 (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 13, 2014.

COMPANY                         INSTRUMENT                 RATING      AMOUNT   MOVEMENT
------                          ----------                 ------      ------   ---------
Greaves Cotton Ltd              CP                         IND A1+      500      Assigned
Greaves Cotton Ltd              Non-FB limits:             IND A1+      2200     Assigned
Andhra Banks (Ab)               Certificates of deposits   IND A1+      40000    Affirmed
Creative Health Care Pvt Ltd    Non-FB WC limit            IND A4       20       Assigned

Essel Vidyut Vitaran            Non-FB limits              IND A3+      415.4    Assigned
(Muzaffarpur) Pvt.  Ltd
Greaves Cotton Ltd              LT Issuer Rating:          IND AA                Assigned
Greaves Cotton Ltd              FB limits                  IND AA       650      Assigned
Andhra Banks (Ab)               Subordinated bonds:        IND AA       15000    Affirmed
Creative Health Care Pvt Ltd    FB WC limits               IND B        120      Assigned
Creative Health Care Pvt Ltd    TL                         IND B        24.7     Assigned
Creative Health Care Pvt Ltd    Proposed additional FB WC  IND B(exp)   115.3    Assigned
Essel Vidyut Vitaran            LT Issuer Rating           IND BBB               Assigned
(Muzaffarpur) Pvt.  Ltd
Essel Vidyut Vitaran            TL                         IND BBB      740      Assigned
(Muzaffarpur) Pvt.  Ltd
Essel Vidyut Vitaran            FB WC limits               IND BBB      100      Assigned
(Muzaffarpur) Pvt.  Ltd
North Karnataka Expressways Ltd Zero-coupon NCDs           IND AAA(SO)  4636     Assigned
Sun Infrastructures Pvt Ltd     LT Issuer Rating           IND BB+               Assigned
Sun Infrastructures Pvt Ltd     TL                         IND BB+(exp) 980      Assigned
Vardan Intensive Care Hospital  FB limits                  IND BB       90       Assigned
Pvt Ltd
Vardan Intensive Care Hospital  TL                         IND BB       23.3     Assigned
Pvt Ltd
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 The withdrawn criteria are now available on India Ratings' website at

$: 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

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

Our Standards:The Thomson Reuters Trust Principles.
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