June 25, 2020 / 7:49 AM / a month ago

India Ratings for Indian debt instruments – Jun 25

    Jun 25 - 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
June 24, 2020.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
------                          ----------             ------          ------   ---------
Anmol Associates                Non-FB WC limits       IND A4+          200      -
Migrated to non-cooperating category(issuer not cooperating)
Maple Panels Pvt Ltd            Non-FB limits          IND A4+          10       -
Downgraded and migrated to non-cooperation category(Issuer Not Cooperating)
Tenon Facility Management India Non-FB facility        IND A3+          30       Assigned
Pvt Ltd

Anmol Associates                FB WC limits           IND BB / IND A4+ 50       -
Migrated to non-cooperating category(issuer not cooperating)
Barath Building Constructions   TL                     IND BB+          920      Downgraded
(I) Pvt Ltd
Britto Amusements Pvt Ltd       FB limits              IND BB+ /IND A4+ 180      -
Downgraded and migrated to non-cooperating category(Issuer Not Cooperating)
Core Jewellery Pvt Ltd          FB WC Fac (LT/ST)      IND D            503      Downgraded
(increased from INR450 mlns)
Core Jewellery Pvt Ltd          TL (LT)                IND D            57       Downgraded
(reduced from INR110 mlns)
Maple Panels Pvt Ltd            Long-TL                IND BB+          139.39   -
Downgraded and migrated to non-cooperation category(Issuer Not Cooperating)
Maple Panels Pvt Ltd            FB limits              IND BB+          75       -
Downgraded and migrated to non-cooperation category(Issuer Not Cooperating)
Profive Engineering Pvt Ltd     TL                     IND BB/Stable    35.708   Assigned
(outstanding as on 30 April 2020)
Profive Engineering Pvt Ltd     FB WC limits           IND              50       Assigned
Roto Power Projects Pvt Ltd     FB facility            IND              40       Assigned
Roto Power Projects Pvt Ltd     Proposed-FB facility*  Provisional IND  40       Assigned
                                                       BBB- / Stable /
                                                       Provisional IND A3
* The final rating will be assigned following the closure of the issue upon the receipt of the
final documentation, conforming to the information already received by Ind-Ra. 
Shrem Roadways Pvt Ltd          LT loans               IND BBB+/Stable1 600      Affirmed
Tenon Facility Management India FB facility            IND              340      Assigned
Pvt Ltd                                                BBB/Stable/IND
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

$: 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

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@refinitiv.com)
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