July 3, 2017 / 4:57 AM / 5 months ago

India Ratings for Indian debt instruments – Jul 3

    Jul 3 (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 30, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Ashirvad Food Products Pvt Ltd  Non-FB limits          IND A4+          58.8     Affirmed
Fairdeal Overseas               Non-FB WC limit        IND A4+          5        Assigned
Heg Ltd                         CP                     IND A1           1000     Affirmed
Kaliash Devbuild India Pvt Ltd  Non-fund- based limits IND A3           680      Assigned
Laxmi Diamond Pvt Ltd           Non-FB limits          IND A2+          934.7    Upgraded
Mahindra World City Developers  CP (CP)*               IND A1+          500      Assigned
* CP to be carved out of the existing working capital facility
Odyssey Advanced Telematics     Non-FB limit           IND A4+          19       Assigned
Systems

LONG TERM RATINGS:
-------------------
Aditya Birla Housing Finance LtdSubordinated debt      IND AA+          3        Affirmed
Aditya Birla Housing Finance LtdSubordinated debt      IND AA+          7        Assigned
Aditya Birla Housing Finance LtdNCDs (NCDs)            IND AA+          10       Affirmed
Aditya Birla Housing Finance LtdNCDs                   IND AA+          10       Assigned
Aqua Space Developers Pvt Ltd   TL                     IND A-           3250     Reassigned
Ashirvad Food Products Pvt Ltd  FB limits              IND BB-          206.4    Affirmed
Ashirvad Food Products Pvt Ltd  TL                     IND BB-          0.6      Affirmed
Axis Wind Farms (Ananthapur)    Senior Bk loan         IND BBB-         5910     Assigned
Pvt Ltd
Axis Wind Farms (Ananthapur)    WC facility            IND BBB-         500      Assigned
Pvt Ltd
Bmw Logistics Pvt Ltd           FB WC limits           IND BB+          110      Affirmed
Choudhary Builders Pvt. Ltd     FB WC limit            IND BB+          175      Assigned
Clean Solar Power (Chitradurga) Bk  loan               IND BBB          2200     Assigned
Pvt Ltd
Clean Solar Power (Chitradurga) WC facility            IND BBB          100      Assigned
Pvt Ltd
Fairdeal Overseas               FB WC limit            IND BB-          150      Assigned
Heg Ltd                         TL                     IND A            2347     Affirmed
reduced from 2,371.2
Heg Ltd                         FB WC limits           IND A/ IND A1    5050     Affirmed
reduced 6,550
Heg Ltd                         Non-FB WC limits       IND A/ IND A1    1950     Affirmed
reduced from 2,600
Hindustan Coca-Cola Beverages   FB and non-FB WC limitsIND AAA/ IND A1+ 18900    Affirmed
Pvt Ltd
increased from 13,500
Kaliash Devbuild India Pvt Ltd  FB limits              IND BBB-         180      Assigned
Laxmi Diamond Pvt Ltd           TL                     IND A            264.2    Upgraded from
                                                                                 IND A-
Laxmi Diamond Pvt Ltd           FB WC limits           IND A /IND A2    8000     Upgraded
Mahindra World City Developers  LT Issuer Rating       IND AA-          -        Assigned
Mahindra World City Developers  FB WC Fac              IND AA-          1000     Assigned
Mahindra World City Developers  CP                     WD               600      Withdrawn
                                                                                 (repaid in
                                                                                 full)
My Home Constructions Pvt Ltd   Proposed TL*           Provisional IND  2500     Assigned
                                                       A-
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MHCPL to the satisfaction of Ind-Ra.
My Home Constructions Pvt Ltd   Proposed TL            WD               2500
Withdrawn (the did not with the instrument as envisaged)
Neogrowth Credit Pvt Ltd        NCDs                   IND BBB          575      Assigned
Nrss Xxxi (B) Transmission Ltd  Non-FB facility        IND AA-          275      Assigned
Nrss Xxxi (B) Transmission Ltd  Bk loans               Provisional IND  6000     Assigned
                                                       AA-
Odyssey Advanced Telematics     FB limit               IND BB-          80       Assigned
Systems
Prathamesh Land Developers      Long-TL                IND BB+          349.9    Affirmed
Welspun Delhi Meerut Expressway TL                     IND A            4000     Assigned
Pvt Ltd

-----------------------------------------------------------------------------------------------
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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