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India Ratings for Indian debt instruments – Mar 02
March 2, 2017 / 4:32 AM / 9 months ago

India Ratings for Indian debt instruments – Mar 02

    Mar 2 (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
March 1, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Dineshchandra R Agrawal         Non-FB WC facility     IND A1+          10650    Assigned
Infracon Pvt Ltd 
Dineshchandra R Agrawal         Proposed non-FB WC     IND A1+          1150     Assigned
Infracon Pvt Ltd                facility*
* The ratings are provisional and shall be confirmed upon the sanction and execution
 of loan documents for the proposed facilities by DRAIPL to the satisfaction of Ind-Ra.
Hindustan Agencies              Non-FB limit           IND A3           4        Assigned
Lenz Ceramic Pvt Ltd            NFBL                   IND A4+          25       Assigned
Ramkrishna Agencies             Non-FB limit           IND A3           60       Assigned
Ratnadeep Metal & Tubes Ltd     Non-FB limits          IND A4+          330      Assigned
Sanvijay Infrastructures Pvt LtdProposed non-FB WC     IND A3           50       Assigned
                                facility*
*The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan documents for the proposed facilities by SIPL to the satisfaction of Ind-Ra.
York Print Pvt Ltd              NFB WC limit           IND A3+          103      Assigned

LONG TERM RATINGS:
-------------------
Anwesha Engineering & Projects  TL                     IND BBB-         239.25   Downgraded
Ltd
Anwesha Engineering & Projects  FB limit               IND BBB-/ IND A3 1250     Downgraded
Ltd
Anwesha Engineering & Projects  Non-FB limit           IND BBB-/ IND A3 2460     Downgraded
Ltd
Anwesha Engineering & Projects  Proposed non-FB limit* Provisional IND  500      Downgraded
Ltd                                                    BBB-/Provisional
                                                       IND A3
* The above rating is provisional and shall be confirmed upon the sanction and 
 execution of the loan documents for the above facilities by AEPL
 to the satisfaction of Ind-Ra. 
Classic Foods                   Long-TL                IND B+           3.4      Assigned
Classic Foods                   FB Fac                 IND B+/IND A4    68       Assigned
Dineshchandra R Agrawal         FB CC limit            IND A+           1100     Assigned
Infracon Pvt Ltd 
Dineshchandra R Agrawal         Proposed FB CC limit*  IND A+           100      Assigned
Infracon Pvt Ltd 
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan documents for the proposed facilities by DRAIPL to the satisfaction of Ind-Ra. 
Guru Nanak International Pvt    FB WC limits           IND BB-/IND A4+  115      Assigned
Ltd 
Guru Nanak International Pvt    Proposed fund based WC Provisional IND  10       Assigned
Ltd                             limits*                BB-/Provisional
                                                       IND A4+
*The ratings are provisional and the final rating will be assigned subject to 
execution of sanction letter for the above facilities. 
Hindustan Agencies              FB limit               IND BBB-         150      Assigned
Hindustan Distributors          FB limit               IND BBB-         132      Assigned
Kamineni Educational Society    TL                     IND BBB-         150      Assigned
Lenz Ceramic Pvt Ltd            TL                     IND BB           12.59    Assigned
Lenz Ceramic Pvt Ltd            FB WC limits           IND BB/IND A4+   80       Assigned
Lingard Ifmr Capital 2017       PTC (PTCs)-Series A1   IND A-(SO)       270.4    Assigned
Lingard Ifmr Capital 2017       PTCs-Series A2         IND BB+(SO)      12.7     Assigned
Max International               FB limit               IND BBB-         140      Assigned
Mfl Securitisation Trust - XlviiSeries A1 pass-through IND AA(SO)       3145.2   Assigned
                                certificates 
Mfl Securitisation Trust - XlviiSeries A2 PTCs         IND AA(SO)       131.1    Assigned
Mfl Securitisation Trust - XlviiLiquidity facility     IND AAA(SO)      57.3     Assigned
Mfl Securitisation Trust - Xlvii Second loss credit    IND BBB(SO)      286.7    Assigned
                                facility (SLCF)
Mifl Securitisation Trust Xv    Series A1 pass-through IND AA(SO)       295.6    Assigned
                                certificates 
Mifl Securitisation Trust Xv    Series A2 PTCs         IND AA(SO)       4.3      Assigned
Mifl Securitisation Trust Xv    Liquidity facility     IND AAA(SO)      5.25     Assigned
Mifl Securitisation Trust Xv    Second loss credit     IND BBB(SO)      24.6     Assigned
                                facility 
Ramkrishna Agencies             FB limit               IND BBB-         430      Assigned
Ratnadeep Metal & Tubes Ltd     FB limits              IND BB/ IND A4+  300      Assigned
Sai Shakti Agencies             FB limit               IND BBB-         250      Assigned
Sansar Trust Feb 2017 Ii        Pass-through           IND AAA(SO)      424.1    Assigned
                                certificates
                                (PTCs)-Series A*
*The final ratings are contingent upon the receipt of final documents conforming
 to information already received. The new and used commercial vehicle, equipment 
 loans and passenger vehicle pool to be assigned to the trust has been originated 
 by Shriram Transport Finance Co. Ltd 
Sansar Trust Feb 2017 Ii        Second loss credit     IND BBB(SO)      26.51    Assigned
                                facility (SLCF)*
*The final ratings are contingent upon the receipt of final documents conforming
 to information already received. The new and used commercial vehicle, equipment 
 loans and passenger vehicle pool to be assigned to the trust has been originated 
 by Shriram Transport Finance Co. Ltd 
Sanvijay Infrastructures Pvt LtdProposed TL*           IND BBB-         420      Assigned
*The ratings are provisional and shall be confirmed upon the sanction and
 execution of loan documents for the proposed facilities by SIPL to 
 the satisfaction of Ind-Ra.
Sanvijay Infrastructures Pvt LtdProposed FB CC         IND BBB-         350      Assigned
                                facility*
*The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan documents for the proposed facilities by SIPL to the satisfaction of Ind-Ra.
Shakti Agencies Pvt Ltd         FB limit               IND BBB-         440      Assigned
Shree Venkatesh Group           TL                     IND BB           277.5    Affirmed
York Print Pvt Ltd              FB WC limit            IND BBB          243      Assigned
York Print Pvt Ltd              LT loan                IND BBB          392.124  Assigned
-----------------------------------------------------------------------------------------------
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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