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India Ratings for Indian debt instruments – Jul 5
July 5, 2017 / 4:30 AM / 5 months ago

India Ratings for Indian debt instruments – Jul 5

    Jul 5 (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
July 4, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Amrut Distilleries Pvt Ltd      Non-FB WC limits       IND A2           10       Affirmed
Balajee Mini Steels & Rerolling Non-FB WC limits       IND A3(SO)       50       Downgraded
Pvt Ltd                                                                          from IND
                                                                                 A3(SO)
Balmukund Sponge & Iron Pvt Ltd Non-FB WC limits       IND A3           377.4    Downgraded
                                                                                 from IND A3+
Bhagaban Mohapatra              NFBL                   IND A4+          360      Assigned
Constructions And Engineers Pvt
Ltd 
Pg Electroplast Ltd             Non-FB WC limit        IND A3           180      Assigned


LONG TERM RATINGS:
-------------------
Amrut Distilleries Pvt Ltd      FB WC limits           IND BBB+ / IND A21190     Affirmed
Balajee Mini Steels & Rerolling TL                     IND BBB-(SO)     13.4     Downgraded
Pvt Ltd                                                                          from IND
                                                                                 BBB(SO)
(reduced from INR27.8)
Balajee Mini Steels & Rerolling FB WC limits           IND BBB-(SO)     250      Downgraded
Pvt Ltd                                                                          from IND
                                                                                 BBB(SO)
Balmukund Sponge & Iron Pvt Ltd TL                     IND BBB-         33.1     Downgraded
                                                                                 from IND BBB
(reduced from INR40.6)
Balmukund Sponge & Iron Pvt Ltd FB WC limits           IND BBB-         510      Downgraded
                                                                                 from IND BBB
Bhagaban Mohapatra              FBL                    IND BB+          30       Assigned
Constructions And Engineers Pvt
Ltd 
India Standard Loan Trust - Xvi Series A pass-through  IND A(SO)        328.4    Affirmed
(An Abs Transaction)            certificates (PTCs)
India Standard Loan Trust - Xvi Liquidity facility (LF)IND AAA(SO)      10.91    Affirmed
(An Abs Transaction)
India Standard Loan Trust - Xvi Second loss credit     IND BBB(SO)      37.6     Affirmed
(An Abs Transaction)            facility (SLCF)
Jm Financial Credit Solutions   NCD                    IND AA           10       Assigned
Ltd
Jm Financial Credit Solutions   Bk Loans               IND AA           10       Assigned
Ltd
Kohenoor Industries             FB WC limit            IND BBB-         1750     Upgraded from
                                                                                 IND BB+
(increased from INR110)
Maa Chinnamasta Food Processor  FBL                    IND BB-          130      Assigned
Pvt Ltd
Maa Chinnamasta Food Processor  LTL                    IND BB-          20       Assigned
Pvt Ltd
Maa Kalika Bhandar              FB WC imit             IND BBB-         2250     Upgraded from
                                                                                 IND BB+
(increased from INR150)
Mytrah Ujjval Power Pvt Ltd     Proposed NCDs*         IND BBB(SO)      9000     Assigned
*The final rating will be assigned upon the issuance of NCDs and receipt of transaction
documents including a corporate guarantee deed by the agency. The proposed NCDs have a tenor of
seven years with annual coupon payment and structured repayment.
Pg Electroplast Ltd             FB WC limit            IND BBB-         150      Assigned
Pg Electroplast Ltd             TL                     IND BBB-         290      Assigned
Privilege Trust Series 12 (An   Pass-through           IND AAA(SO)      1079.4   Assigned
Abs Transaction)                certificates
                                (PTCs)-Series A
Sansar Trust Jun 2017           Second loss credit     IND A-(SO)       325.1    Assigned
                                facility (SLCF)*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used passenger vehicle, equipment and commercial vehicle loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Co. Ltd. (STFCL;
the Originator or Seller; ‘IND AA+’/Stable).
Sansar Trust Jun 2017           Pass-through           IND AAA(SO)      6502.4   Assigned
                                certificates
                                (PTCs)-Series A*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used passenger vehicle, equipment and commercial vehicle loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Co. Ltd. (STFCL;
the Originator or Seller; ‘IND AA+’/Stable).
Sansar Trust June 2017 Iv (An   Second loss credit     IND A-(SO)       210.4    Assigned
Abs Transaction)                facility (SLCF)*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used passenger vehicle, equipment and commercial vehicle loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Co. Ltd. (STFCL;
the Originator or Seller; ‘IND AA+’/Stable).
Sansar Trust June 2017 Iv (An   Pass-through           IND AAA(SO)      3627.9   Assigned
Abs Transaction)                certificates
                                (PTCs)-Series A*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used passenger vehicle, equipment and commercial vehicle loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Co. Ltd. (STFCL;
the Originator or Seller; ‘IND AA+’/Stable).
Sansar Trust June 2017 Vi       Second loss credit     IND A-(SO)       51       Assigned
                                facility (SLCF)*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used commercial vehicle, passenger vehicle and equipment loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Company Limited
(STFCL; the Originator or Seller; ‘IND AA+’/Stable/‘IND A1+’).
Sansar Trust June 2017 Vi       Pass-through           IND AA+(SO)      1000     Assigned
                                certificates
                                (PTCs)-Series A*
*The final ratings are contingent upon the receipt of final documents conforming to information
already received. The new and used commercial vehicle, passenger vehicle and equipment loan pool
to be assigned to the trust has been originated by Shriram Transport Finance Company Limited
(STFCL; the Originator or Seller; ‘IND AA+’/Stable/‘IND A1+’).
-----------------------------------------------------------------------------------------------
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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