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India Ratings for Indian debt instruments – Jun 9
June 9, 2017 / 3:49 AM / 5 months ago

India Ratings for Indian debt instruments – Jun 9

    Jun 9 (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 8, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
------                          ----------             ------           ------   ---------
Cooper Corporation Pvt Ltd      Non-FB limits          IND A1           500      Affirmed
increased from 200
Suryodaya Infra Projects (I)    Non-FB WC limit        IND A4+          100      Assigned
Pvt Ltd
Vijai Electricals Ltd           Non-FB Fac             IND A3           11730.9  Assigned
Vijai Electricals Ltd           Proposed non-FB Fac    IND A3           574.7    Assigned
Welcome Footwears               Non-FB WC limit        IND A4+          70       Assigned
Welcome Footwears               Proposed non-FB limits IND A4+          30       Assigned

Amrita Sai Educational          WC Fac                 IND BB           29       Affirmed
Improvement Trust
Aphelion Finance Pvt. Ltd.      Bk loan (TL)           IND BB           100      Upgraded
Aphelion Finance Pvt. Ltd.      Bk loan (TL)           IND BB           50       Upgraded
Aphelion Finance Pvt. Ltd.      CC                     IND BB           200      Upgraded
increased from 100
Cooper Corporation Pvt Ltd      TL                     IND A+           837.1    Affirmed
reduced from 1,450
Cooper Corporation Pvt Ltd      CC Fac                 IND A+           1389     Affirmed
increased from 1,200
India Standard Loan Trust XXXIX Pass-through           IND AA (SO)      994.8    Assigned
                                Certificates (PTCs) -
                                Series A
India Standard Loan Trust XXXIX Liquidity Facility (LF)IND AAA (SO)     9.95     Assigned
India Standard Loan Trust XXXIX Second loss credit     IND BBB (SO)     48.75    Assigned
                                facility (SLCF)
Shri Dakshineshwari Maa         Proposed long-TL       IND BB           670      Assigned
Polyfabs Ltd
Shyam Enterprises               TL limit               IND B+           10       Assigned
Shyam Enterprises               FB WC limit            IND B+/ IND A4   40       Assigned
Suryodaya Infra Projects (I)    FB WC limit             IND BB-/ IND A4+50       Assigned
Pvt Ltd
Vijai Electricals Ltd           Long-TL                IND BBB-         195.7    Assigned
Vijai Electricals Ltd           FB facility            IND BBB-/ IND A3 1182     Assigned
Vijai Electricals Ltd           Proposed FB Fac        IND BBB-/ IND A3 60       Assigned
Welcome Footwears               TL                     IND BB+          26       Assigned
Welcome Footwears               FB WC limit            IND BB+/ IND A4+ 60       Assigned
Welcome Footwears               Proposed FB limits     IND BB+/ IND A4+ 34       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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