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India Ratings for Indian debt instruments - Nov 20
November 20, 2014 / 4:02 AM / 3 years ago

India Ratings for Indian debt instruments - Nov 20

Nov 20 (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
November 19, 2014.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
------                          ----------                  ------       ------   ---------
Goldman Sachs (I) Finance Pvt   CP programme               IND A1+      10000    Affirmed

Relishah Export                 Post shipment demand       IND A4       450*     Affirmed
                                loan/usance foreign bill
                                purchased/ foreign bill purchased
*includes an INR80m standby limit under the Bank of Baroda's gold card scheme (enhanced from

Relishah Export                 Packing credit/ packing    IND A4       50       Affirmed
                                credit in foreign currency
Relishah Export                 Inland BGs                 IND A4       20       Affirmed

Uttar Bharat Hydro Power Pvt   TL                          IND BB       500      Assigned
Amon-Ra Impex Pvt Ltd           FB CC limits               IND B+       5000     Suspended
Amon-Ra Impex Pvt Ltd           non-FB LOC                 IND B+       45000    Suspended
NHPC Ltd                        LT bond programme          IND AAA      20000    Assigned
NHPC Ltd                        long-TL programme          IND AAA      20000    Assigned
NHPC Ltd                        LT bond programme          IND AAA      15000    Assigned
NHPC Ltd                        LT bond programme          IND AAA      15000    Assigned
NHPC Ltd                        Non-convertible TFBs       IND AAA      10000    Assigned
NHPC Ltd                        Non-convertible bond       IND AAA      16000    Assigned
NHPC Ltd                        WC loans                   IND AAA /    1550     Assigned
                                                           IND A1+
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 The withdrawn criteria are now available on India Ratings' website at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 RWN- Rating
Watch Negative.

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

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