November 12, 2018 / 6:58 AM / 8 months ago

India Ratings for Indian debt instruments – Nov 12

   Nov 12 (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
November 9, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Safe & Secure Logistics Pvt Ltd Non-FB WC limit        IND A4+          5        Assigned
Sharmanji Yarns Pvt Ltd         Non-FB WC limits       IND A2           25       Assigned
Steel Authority Of India Ltd    Non-FB WC limits       IND A1+          20000    Affirmed
Steel Authority Of India Ltd    CP                     IND A1+          80000    Affirmed


LONG TERM RATINGS:
-------------------
Aruna Enterprise                TL                     IND BB-          93.7     Assigned
Betam Wind Energy Pvt Ltd       Senior project Bk loan*Provisional IND  1674     Assigned
                                                       A-
*A final rating will be assigned upon the receipt of executed financing documents,
 including trust and retention agreement, borrower and promoter undertakings, 
 among others in conformance to the information already received by Ind-Ra.
Betam Wind Energy Pvt Ltd       CC facility*           Provisional IND  30       Assigned
                                                       A-
*A final rating will be assigned upon the receipt of executed financing documents,
 including trust and retention agreement, borrower and promoter undertakings, 
 among others in conformance to the information already received by Ind-Ra.
Il&Fs Education & Technology    Series C NCDs          IND BB(SO)/RWN   1288     Downgraded;
Services Ltd                                                                     RWN Maintained
(outstanding on 2 November 2018)
Rushabh Flour Mills Pvt Ltd     FB WC limit            IND BB/IND A4+   60       Affirmed
(reduced from INR90)
Rushabh Flour Mills Pvt Ltd     Proposed FB WC limit*  Provisional IND  30       Affirmed
                                                       BB/Provisional
                                                       IND A4+
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan/transaction documents for the above facilities to the satisfaction of Ind-Ra.
Safe & Secure Logistics Pvt Ltd FB WC limit            IND BB+/IND A4+  190      Assigned
Sai Bharathi Homes              FB limit               IND B+           130      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Sharmanji Yarns Pvt Ltd         TL                     IND BBB+         753.9    Assigned
Sharmanji Yarns Pvt Ltd         FB WC limits           IND BBB+/IND A2  1400     Assigned
Steel Authority Of India Ltd    Bonds                  IND AA-          114430   Affirmed
(reduced from INR170,000)
Steel Authority Of India Ltd    Bk loan                IND AA-          20000    Affirmed
Steel Authority Of India Ltd    Non-FB limits          IND AA-          70000    Affirmed
Steel Authority Of India Ltd    FB WC based limits     IND AA-/IND A1+  45000#   Affirmed
# Bank sanctioned limits INR70,000 million as on date
Steel Authority Of India Ltd    Public deposits        IND tAA          10000    Affirmed
Vikas Technoplast Pvt Ltd       TL                     IND BB-          25.2     Migrated to
                                                                                 non
                                                                                 cooperating
                                                                                 category
Vikas Technoplast Pvt Ltd       FB limits              IND BB- /IND A4+ 55       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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below