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India Ratings for Indian debt instruments – Jun 13
June 13, 2017 / 5:05 AM / 5 months ago

India Ratings for Indian debt instruments – Jun 13

    Jun 13 (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 12, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Globe Ecologistics Pvt. Ltd.    Non-FB limits          IND A2           150      Affirmed
Globe Ecologistics Pvt. Ltd.    Proposed non-FB limits*IND A2           50       Affirmed
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the proposed facilities by GEPL to the satisfaction of Ind-Ra. 
Gtc Oilfield Services Pvt Ltd   Non-FB limits          IND A2(SO)       146      Affirmed
Maharashtra Hybrid Seeds Co. LtdNFBL                   IND A2+          60       Affirmed
Mahindra & Mahindra Financial   CP*                    IND A1+          10000    Assigned
Services Ltd.
*Unutilised
Swosti Premium Ltd              Non-FB Fac             IND A4+          9.6      Migrated to
(ISSUER NOT COOPERATING)                                                         Non-
                                                                                 Cooperating
                                                                                 Category 

LONG TERM RATINGS:
-------------------
Dwarkadhis Projects Pvt Ltd’S   Long-TL                IND BBB-         800      Assigned
Dwarkadhis Projects Pvt Ltd’S   Non-FB facility        IND BBB- / IND A3200      Assigned
Globe Ecologistics Pvt. Ltd.    Proposed FB limits*    IND BBB+         50       Affirmed
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the proposed facilities by GEPL to the satisfaction of Ind-Ra. 
Globe Ecologistics Pvt. Ltd.    FB limits              IND BBB+/IND A2  650      Affirmed
Gtc Oilfield Services Pvt Ltd   TL                     IND BB           269.7    Affirmed
(reduced from INR369.5)
Gtc Oilfield Services Pvt Ltd   TL                     IND BBB+         243.1    Affirmed
(reduced from INR331.2)
Gtc Oilfield Services Pvt Ltd   FB CC limits           IND BBB+(SO)     70       Affirmed
Gtc Petrotech Pvt Ltd’S         TL                     IND BBB+         70       Affirmed
K Raheja It Park (Hyderabad)    NCD                    IND AAA(SO)      5000     Assigned
Ltd’S
Maharashtra Hybrid Seeds Co. LtdTL                     IND A-           500      Affirmed
Maharashtra Hybrid Seeds Co. LtdTL*                    IND A-           100      Assigned
Maharashtra Hybrid Seeds Co. LtdFBL                    IND A-           750      Affirmed
Maharashtra Hybrid Seeds Co. LtdProposed TL            -               400      Withdrawn 
(reduced from INR500),(the company did not proceed with the instrument as envisaged)
Parksons Cartamundi Pvt Ltd     TL                     IND BB+          45.3     Affirmed
Parksons Cartamundi Pvt Ltd     FB Fac                 IND BB+ /IND A4+ 147.5    Affirmed
Swosti Premium Ltd              FB Fac                 IND BB           40       Migrated to
(ISSUER NOT COOPERATING)                                                         Non-
                                                                                 Cooperating
                                                                                 Category 
Swosti Premium Ltd              Long-TL                IND BB           701.1    Migrated to
(ISSUER NOT COOPERATING)                                                         Non-
                                                                                 Cooperating
                                                                                 Category 

Ultimate Flexipack Ltd’S        *Proposed long-TL      IND BBB+         850      Assigned
* The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by UFPL to the satisfaction of Ind-Ra.
-----------------------------------------------------------------------------------------------
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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