March 7, 2013 / 4:42 AM / in 5 years

India Ratings for Indian debt instruments-Mar 7

Mar 7 (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
March 6, 2013.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Enam Finance Pvt Ltd (EFPL)     CP (CP) programme           IND A1+      2000     Assigned
Surina Impex Pvt. Ltd           FB limits                   IND A4       95       Assigned
Surina Impex Pvt. Ltd           non-FB limits               IND A4       360.5    Assigned
Surina Impex Pvt. Ltd (SIPL)    FB limits                   IND A4       95       Affirmed
Surina Impex Pvt. Ltd (SIPL)    Non-FB limits               IND A4       360.5    Affirmed

LONG TERM RATINGS:
-------------------
Fuso Glass India Pvt Ltd        FB limits                   IND D        260      Assigned
Fuso Glass India Pvt Ltd        Non-FB limits               IND D        155      Assigned
Fuso Glass India Pvt Ltd        TL                          IND D        136.2    Assigned
Saurav Chemicals Ltds (SCL)     Long-TL                     IND BB+      85.1     Upgraded from
                                                                                  IND BB
(enhanced from INR31.0m)
Saurav Chemicals Ltds (SCL)     FB limits                   IND BB+ /    155      Upgraded IND
                                                            IND A4+               BB / Affirmed
(enhanced from INR145m)
Saurav Chemicals Ltds (SCL)     Non-FB limits               IND BB+ /    102.5    Upgraded IND
                                                            IND A4+               BB / Affirmed
(enhanced from NR90m)
Surina Impex Pvt. Ltd           FB limits                   IND B        220      Assigned
Surina Impex Pvt. Ltd (SIPL)    FB limits                   IND B+       220      Upgraded from
                                                                                  IND B
-----------------------------------------------------------------------------------------------
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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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