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India Ratings for Indian debt instruments – Jun 2
June 2, 2017 / 6:01 AM / in 6 months

India Ratings for Indian debt instruments – Jun 2

    Jun 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
June 1, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
------                          ----------             ------          ------    ---------
J C Construction Pvt Ltd        Non-FB WC limit        IND A4+          100      Assigned
New Laxmi Steel & Power Pvt Ltd Proposed non-FB limit  Provisional IND  250      Assigned
Sant Muktai Sugar And Energy    Non-FB limits          IND A4           5        Assigned
Asian Handicrafts Pvt Ltd       TL                     IND BB-          392.6    Assigned
Asian Handicrafts Pvt Ltd       FB WC                  IND BB- /IND A4+ 1000     Assigned
Brattle Foods Pvt Ltd           TL                     IND BBB          812      Affirmed
(reduced from INR920)
Di-An-Are Exports               FB WC limits           IND BB- /IND A4+ 100      Affirmed
Di-An-Are Exports               Proposed FB limit      WD               30       Withdrawn
J C Construction Pvt Ltd        FB WC limit            IND BB           60       Assigned
J C Construction Pvt Ltd        TL                     IND BB           9.39     Assigned
Madurai Trans Carrier Ltd       TL                     IND A-           670      Assigned
Narayan Cotton Industries       TL                     IND B+           10.63    Assigned
Narayan Cotton Industries       FB WC limits           IND B+           160      Assigned
New Laxmi Steel & Power Pvt Ltd FB limits              IND BB           200      Assigned
Oom Exports                     Long-TL                IND BBB-         6.75     Assigned
Oom Exports                     FB WC limit            IND BBB- /IND A3 115      Assigned
Sant Muktai Sugar And Energy    FB limits              IND B /IND A4    300      Assigned
Super Overseas Pvt Ltd          TL                     IND BB+          15.68    Assigned
Super Overseas Pvt Ltd          FB WC limit            IND BB+/IND A4+  80       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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