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India Ratings for Indian debt instruments – May 10
May 10, 2017 / 5:49 AM / 6 months ago

India Ratings for Indian debt instruments – May 10

   May 10 (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
May 9, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT     MOVEMENT
                                                                     (RS.MLN)
------                          ----------             ------         ------     ---------
SHORT TERM RATINGS:
-------------------
E-Centric Solutions Pvt Ltd     Non-FB limits          IND A3+          100      Affirmed
Efc Logistics India Pvt Ltd     Non-FB WC limit        IND A3           350      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Infosoft Digital Design &       Non-FB WC limit        IND A4+          120      Migrated to
Services Pvt Ltd                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Joseph John’S (Joseph)          Non-FB Fac             IND A4           30       Affirmed
Joseph John’S (Joseph)          Proposed non-FB Fac*   Provisional IND  10       Assigned
                                                       A4
* The ratings are provisional and shall be confirmed upon the sanction 
 and execution of loan documents for the above facilities by
 Joseph to the satisfaction of Ind-Ra.
LMJ Logistics Ltd               WC limits              IND BBB + IND A2+869.93   Assigned
Sahil Polyplast Pvt Ltd         Non-FB WC limit        IND A4           15       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sahil Polyplast Pvt Ltd         Proposed FB WC limit   Provisional IND  10       Migrated to
                                                       A4                        Non -
                                                                                 Cooperating 
                                                                                 Category
Sanco Industries Ltd            Non-FB WC limit        IND A4+          154      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Terai Tea Co. Ltd               Non-FB WC limit        IND A3           20       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category

LONG TERM RATINGS:
-------------------
E-Centric Solutions Pvt Ltd     FB limits              IND BBB /IND A3+ 190      Affirmed
Efc Logistics India Pvt Ltd     FB WC limit            IND BBB-         285      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
EFC Logistics India Pvt Ltd     TL                     IND BBB-         443.3    Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Fortune Spirit Ltd              FB WC limit            IND BB-          150      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Gonda Nagar Palika Parishad     LT                     IND BB-          -        Assigned
Il&Fs Transportation Investment LT senior debt rating  Provisional IND           Assigned
Trust’                                                 AA+
India Standard Loan Trust-Xl    PTC (PTCs) - Series A  IND A(SO)        1566.38  Assigned
India Standard Loan Trust-Xl    Liquidity facility     IND AAA(SO)      15.7     Assigned
India Standard Loan Trust-Xl    Second loss credit     IND BBB(SO)      53.26    Assigned
                                facility 
Infosoft Digital Design &       FB WC limit            IND BB/IND A4+   50       Migrated to
Services Pvt Ltd                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Interlink Foods Pvt Ltd         FB WC limit            IND BB+ /IND A4+ 150      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Johnson Jewelers                FB limits              IND B+           150      Assigned
Joseph John’S (Joseph)          FB Fac                 IND B+ /IND A4   90       Affirmed
Joseph John’S (Joseph)          Proposed FB Fac*       Provisional IND  20       Assigned
                                                       B+ /Provisional
                                                       IND A4
* The ratings are provisional and shall be confirmed upon the sanction 
 and execution of loan documents for the above facilities by
 Joseph to the satisfaction of Ind-Ra.
Jupiter Trust A Jan 13          Series A pass-through  IND AA+(SO)      2.6      Affirmed
                                certificates (PTCs)
Jupiter Trust A Jan 13          Second loss credit     IND BBB(SO)      185.6    Affirmed
                                facility (SLCF)
Kamal Krishna Builders Pvt Ltd  TL                     IND BB-          62.5     Assigned
Karan Rice Mills                FB WC limit            IND B            99       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Regency Hospital Ltd            TL                     IND BBB-         541.22   Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Regency Hospital Ltd            FB WC limit            IND BBB-/IND A3  153.91   Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Regency Hospital Ltd            Non-FB WC limit        IND BBB-/IND A3  47.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sahibzada Timber & Ply Pvt Ltd  FB WC limit            IND BB- /IND A4+ 200      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sahil Polyplast Pvt Ltd         FB WC limit            IND B+ /IND A4   90       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sahil Polyplast Pvt Ltd         Proposed FB WC limit   Provisional IND  35       Migrated to
                                                       B+ /Provisional           Non -
                                                       IND A4                    Cooperating
                                                                                 Category
Sanco Industries Ltd            FB WC limit            IND BB- /IND A4+ 180      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sandhu Poultry Farm             TL                     IND BB-          20.7     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sandhu Poultry Farm             FB WC limits           IND BB-/ IND A4+ 40       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Seagull Trust I                 Series A1 pass-through IND AA+          2047.7   Assigned
                                certificates (PTCs)
Shilpi Cable Technologies Ltd   FB WC                  IND BBB- /IND A3 2660     Downgraded and
                                                                                 Migrated to
                                                                                 Non-Cooperating
                                                                                 Category
Shilpi Cable Technologies Ltd   Non-FB WC              IND BBB- /IND A3 7790     Downgraded and
                                                                                 Migrated to
                                                                                 Non-Cooperating
                                                                                 Category
Shilpi Cable Technologies Ltd   Proposed WC            Provisional IND  2050     Downgraded and
                                                       BBB-/IND A3               Migrated to
                                                                                 Non-Cooperating
                                                                                 Category
Shiw Prasad Jyoti Prasad        FB WC limit            IND BB           800      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Shukrana Impex Pvt Ltd          FB WC limit            IND B+/IND A4    50       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sunny Star Hotels Pvt Ltd       TL                     IND BB+          99.7     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Terai Tea Co. Ltd               FB WC limit            IND BBB-         216.03   Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
-----------------------------------------------------------------------------------------------
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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