April 16, 2019 / 5:36 AM / 6 days ago

India Ratings for Indian debt instruments – Apr 16

    Apr 16 (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 15, 2019.

COMPANY                         INSTRUMENT              RATING        AMOUNT     MOVEMENT
                                                                      (RS.MLN)
------                          ----------              ------        ------     ---------
LONG TERM RATINGS:
-------------------
Dev-Dwarka Windproject Ltd      Rupee TL               IND A-           2420     Upgraded
 (reduced from INR2,450; INR2,246.92 outstanding as on 1 April 2019)
Hazaribagh Ranchi Expressway LtdSenior NCDs            IND D(SO)        5380     Downgraded
(outstanding INR4,580 as on date)
Hazaribagh Ranchi Expressway LtdSubordinate NCDs       IND D(SO)        1770     Downgraded
 (outstanding INR1,430 as on date)
Indian Receivable Trust Dec18A  Series A pass-through  IND AAA(SO)      4032.7   Assigned
                                certificates (PTCs)
Indian Receivable Trust Dec18A  Second loss credit     IND BBB(SO)      342.8    Assigned
                                facility (SLCF)
Ml Trust - 1                    Series A pass-through  IND AA+(SO)      110.4    Upgraded
                                certificates (PTCs)
Ml Trust - 2                    Series A pass-through  IND AA+(SO)      60       Upgraded
                                certificates (PTCs)
Sansar Trust Feb 2019 Ii        Second loss credit     IND A-(SO)       130.3    Assigned
                                facility (SLCF)
Sansar Trust Feb 2019 Ii        Series A pass-through  IND AAA(SO)      2529.9   Assigned
                                certificates (PTCs)
Vivriti Andrew 12 2018          Series A2 PTCs         IND A-(SO)       5.68     Assigned
Vivriti Andrew 12 2018          Series A1 pass-through IND A+(SO)       249.99   Assigned
                                certificates (PTCs)
Vivriti Kepler 12 2018          Series A2 PTCs         IND A-(SO)       10.23    Assigned
Vivriti Kepler 12 2018          Series A1 pass-through IND A+(SO)       450      Assigned
                                certificates (PTCs)
-----------------------------------------------------------------------------------------------
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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