April 12, 2018 / 4:02 AM / 8 days ago

India Ratings for Indian debt instruments – Apr 12

    Apr 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
April 11, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Kanchi Karpooram Ltd            Non-FB Fac             IND A4+          100
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Regal Trading Pvt Ltd           Non-fund -based Fac    IND A4+          275
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Regal Trading Pvt Ltd           Proposed non FB Fac    Provisional IND  45
                                                       A4+
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Sravins Instruments And Systems Non-FB Fac             IND A4           60
Migrated to Non- Cooperating Category (Issuer Not Cooperating)


LONG TERM RATINGS:
-------------------
Bhavya Constructions Pvt Ltd    FB WC facility         WD               150      Withdrawn
Goodwin Jewellers Pvt Ltd       FB WC facility         IND BBB-/ IND A3 700      Rating
Iris Sbl Northern Arc 2018 (An  Series A1 pass-through IND BBB(SO)      134.37   Assigned
Abs Transaction)                certificates (PTCs)
Kanchi Karpooram Ltd            FB Fac                 IND BB-/ IND A4+ 70
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Mahindra & Mahindra Financial   NCDs                   IND AAA          15       Assigned
Services Ltd
Mm Trust Jan 18 (An Abs         Series A pass-through  IND AA+(SO)      2458.6   Assigned
Transaction)                    certificates (PTCs)
Northern Arc 2018 Mfi Bamani    Series A1 pass-through Provisional IND  206.98   Assigned
(An Abs Transaction)            certificates (PTCs)    A-(SO)
Northern Arc 2018 Mfi Bamani    Series A2 PTCs         Provisional IND  12.18    Assigned
(An Abs Transaction)                                   BB+(SO)
Pawan Shree Food International  FB limits              IND B-           55
Pvt Ltd
Maintained at Non- Cooperating Category (Issuer Not Cooperating)
Pekon Electronics Ltd           FB limits              WD               40       Withdrawn
Pekon Electronics Ltd           Long-TL                WD               24.34    Withdrawn
Pekon Electronics Ltd           Non-FB WC limits       WD               110      Withdrawn
Pilot 2 Wheelers Pvt Ltd        FB WC                  IND BB+/ IND A4+ 200
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Pilot 2 Wheelers Pvt Ltd        Proposed FB WC         Provisional IND  50
                                                       BB+/ Provisional
                                                       IND A4+
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Regal Trading Pvt Ltd           FB Fac                 IND BB+/ IND A4+ 25
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Regal Trading Pvt Ltd           Proposed FB Fac        Provisional IND  5
                                                       BB+/ Provisional
                                                       IND A4+
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Sravins Instruments And Systems TL                     IND B+           6.78
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Sravins Instruments And Systems FB Fac                 IND B+/ IND A4   30
Migrated to Non- Cooperating Category (Issuer Not Cooperating)
Sudarshan Beopar Co. Ltd        FB limits              IND BB+          110
Migrated to Non- Cooperating Category (Issuer Not Cooperating)

-----------------------------------------------------------------------------------------------
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