March 29, 2017 / 4:49 AM / 8 months ago

India Ratings for Indian debt instruments – Mar 29

    Mar 29 (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 28, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
------                          ----------             ------           ------   ---------
Grover Impex Pvt Ltd            Non-FB limits          IND A4+          100      Assigned
Klassik Lamitex Pvt Ltd         Non-FB limits          IND A4+          110      Assigned

Supreme Kopargaon Ahmednagar    TL                     IND D            1750     Affirmation
Tollways Pvt Ltd
Athulitha Laboratories Pvt Ltd  TL                     IND D            52.6     Assigned
Athulitha Laboratories Pvt Ltd  FB WC limit            IND D            25       Assigned
Athulitha Laboratories Pvt Ltd  Non FB limit           IND D            20       Assigned
BSCPL Godhra Tollways Ltd       Proposed secured,      IND A+           3500     Provisional
                                rated, unlisted,
                                redeemable NCDs
BSCPL Godhra Tollways Ltd       Proposed LT project    IND A+           1100     Provisional
                                Bk loan
Care Corupack Ltd               FB WC limit            IND BBB-         170      Assigned
Care Corupack Ltd               LT loan                IND BBB-         39.54    Assigned
Care Corupack Ltd               Long-TL                IND BBB-         0.59     Assigned
Care Corupack Ltd               Long-TL                IND BBB-         6.71     Assigned
Grover Impex Pvt Ltd            FB limits              IND BB-/ IND A4+ 25       Assigned
Klassik Lamitex Pvt Ltd         FB limits              IND BB+          60       Assigned
Klassik Lamitex Pvt Ltd         TL                     IND BB+          107.65   Assigned
Maheshwari Pharmaceuticals (I)  TL                     IND B+           5.11     Affirmed
(reduced from INR6.77)
Maheshwari Pharmaceuticals (I)  FB limit               IND B+/ IND A4   56       Affirmed
Sikko Industries Ltd            Proposed FB limit      IND B+           30       Provisional
Sikko Industries Ltd            FB limit               IND B+/ IND A4   70       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

$: 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;
RWN- Rating Watch Evolve.

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

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