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India Ratings for Indian debt instruments – Aug 10
August 10, 2017 / 5:33 AM / a month ago

India Ratings for Indian debt instruments – Aug 10

   Aug 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
August 9, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Dashmesh Educational Charitable Non-FB facility        IND A4+          177      Assigned
Trust
Esds Software Solution Pvt Ltd  Non-FB Fac             IND A3           30       Assigned
Esds Software Solution Pvt Ltd  Proposed non-FB Fac*   Provisional IND  60       Assigned
                                                       A3
* The ratings are provisional and shall be confirmed upon the sanction and 
  execution of loan documents for the above facility by ESDS 
  to the satisfaction of Ind-Ra.
Eveready Industries India Ltd   CP (CP) programme*     IND A1+          1000     Affirmed
*Carved out of existing fund-based working capital banking lines
Godavari Drugs Ltd              Non-FB WC Fac          IND A3           130      Assigned
Krishi Nutrition Company Pvt LtdNon-FB WC limit        IND A4+          17       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Majestic Exports                Non-FB Fac             IND A4+          3.5      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Patel Integrated Logistics Ltd  Non-FB limits          IND A3+          176.7    Affirmed
Vpr Mining Infrastructure Pvt   Non-FB WC limits       IND A2           2450     Affirmed
Ltd

LONG TERM RATINGS:
-------------------
Dashmesh Educational Charitable TL                     IND BB+          273.4    Assigned
Trust
Dashmesh Educational Charitable TL                     IND BB+          350.2    Assigned
Trust
Dashmesh Educational Charitable TL                     IND BB+          760      Assigned
Trust
Dashmesh Educational Charitable FB WC facility         IND BB+          150      Assigned
Trust
Dashmesh Educational Charitable Proposed FB WC         Provisional IND  389.4    Assigned
Trust                           facility*              BB+
* The ratings are provisional and shall be confirmed upon the sanction and 
  execution of loan documents for the proposed facilities
  by DECT to the satisfaction of Ind-Ra.
Dcs Ltd                         FB Fac                                  100      Withdrawn
Dcs Ltd                         Non-FB Fac                              480      Withdrawn
Dcs Ltd                         Proposed TL                             300      Withdrawn
Dcs Ltd                         Proposed FB Fac                         50       Withdrawn
Dcs Ltd                         Proposed non-FB Fac                     420      Withdrawn
Eagle Steel Industries Pvt Ltd  FB WC limits           IND BB-/IND A4+  120      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Eagle Steel Industries Pvt Ltd  Proposed FB WC limit   Provisional IND  20       Migrated to
                                                       BB- /Provisional          Non -
                                                       IND A4+                   Cooperating
                                                                                 Category
Esds Software Solution Pvt Ltd  TL                     IND BBB-         20       Assigned
Esds Software Solution Pvt Ltd  FB Fac                 IND BBB- /IND A3 30       Assigned
Esds Software Solution Pvt Ltd  Proposed TL Fac*       Provisional IND  70       Assigned
                                                       BBB-
* The ratings are provisional and shall be confirmed upon the sanction and 
  execution of loan documents for the above facility by ESDS 
  to the satisfaction of Ind-Ra.
Eveready Industries India Ltd   FB limits              IND AA- /IND A1+ 1300     Long-term
                                                                                 rating
                                                                                 upgraded/
Short-term rating affirmed
Eveready Industries India Ltd   Non-FB limits          IND AA- /IND A1+ 1500     Long-term
                                                                                 rating
                                                                                 upgraded/
Short-term rating affirmed
Godavari Drugs Ltd              TL                     IND BBB-         37       Assigned
Godavari Drugs Ltd              FB WC Fac              IND BBB- /IND A3 120      Assigned
Krishi Nutrition Company Pvt LtdTL                     IND BB+          129.36   Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Krishi Nutrition Company Pvt LtdFB WC limit            IND BB+          65       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Laxmi Narasimha Breeding Farm   TL                     IND B+           21.6     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Laxmi Narasimha Breeding Farm   FB WC limits           IND B+ /IND A4   10       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Laxmi Narasimha Breeding Farm   Proposed FB WC limits  Provisional IND  110      Migrated to
                                                       B+ /Provisional           Non -
                                                       IND A4                    Cooperating 
                                                                                 Category
Majestic Exports                TL                     IND BB-          29.3     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Majestic Exports                FB Fac                 IND BB- /IND A4+ 140      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Maroli Nh Road Pvt Ltd          Senior project Bk loan*IND BB+                   Affirmed
* Outstanding USD3.123 million as on 9 August 2017
Nhpc Ltd                        Bk Fac (TL)            IND AAA          20       Affirmed
Nhpc Ltd                        NCDs (NCDs)            IND AAA          123.96   Affirmed
Nhpc Ltd                        WC limits              IND AAA / IND A1+1.55     Affirmed
Patel Integrated Logistics Ltd  Finance lease          IND BBB          87.79    Affirmed
Patel Integrated Logistics Ltd  FB limits              IND BBB /IND A3+ 523.5    Affirmed
Patel Integrated Logistics Ltd  Term deposit           IND tA-          149.3    Affirmed
Patel Integrated Logistics Ltd  Proposed term deposit* Provisional IND  50       Affirmed
                                                       tA-
* The assignment of final rating will be contingent upon receipt of final 
  documentation conforming to the information previously 
  shared by the company with Ind-Ra.
Prins Polytech Pvt Ltd          TL                     IND B+           34.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Prins Polytech Pvt Ltd          FB limit               IND B+ /IND A4   22.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Ridcor Infra Projects Ltd       Senior project Bk loansIND BBB-         2977.2   Affirmed
Rohit’S Heritage Jewellers Pvt  FB limit               IND B+ /IND A4   110      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating 
                                                                                 Category
S S Offshore Pvt Ltd            TL limit               IND BB           138.7    Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
S S Offshore Pvt Ltd            FB WC limits           IND BB /IND A4+  30       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Shivprasad Foods And Milk       TL                     IND BB-          48.4     Migrated to
Products                                                                         Non -
                                                                                 Cooperating
                                                                                 Category
Shivprasad Foods And Milk       FB WC limits           IND BB- /IND A4+ 70       Migrated to
Products                                                                         Non -
                                                                                 Cooperating 
                                                                                 Category
Shivprasad Foods And Milk       Proposed FB WC limits  Provisional IND  80       Migrated to
Products                                               BB- /Provisional          Non -
                                                       IND A4+                   Cooperating
                                                                                 Category
Siddhi Vinayak Enterprises      FB limit               IND B            45       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
VPR Mining Infrastructure Pvt   FB WC limits           IND BBB /IND A2  575      Affirmed
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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