April 24, 2018 / 6:35 AM / 3 months ago

India Ratings for Indian debt instruments – Apr 24

    Apr 24 (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 23, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Neelkanth Yarn                  Non-FBL                IND A4+          62       Assigned
PSK Engineering Construction & Co. Non-FB WC limits    IND A3           450      Assigned
Starwing Plastic And Chemicals  Non-FBL                IND A4           110      Migrated to
Pvt Ltd                                                                          Non
                                                                                 Cooperating 
                                                                                 Category

LONG TERM RATINGS:
-------------------
Classic Foods                   Long-TL                IND B+           3.4      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Classic Foods                   FB Fac                 IND B+ /IND A4   68       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Hi-Rock Construction Pvt Ltd    Long-TL                IND BB-          200      Assigned
Mahitechs                       FB WC                                   27.5     Withdrawn
Mahitechs                       Non-FB WC                               70       Withdrawn
Mughalsarai Nagar Palika        Issuer rating LT       IND BB                    Withdrawn
Parishad
Nainital Motors Pvt Ltd         TL                     IND BB+          10       Affirmed
Nainital Motors Pvt Ltd         FB WC                  IND BB+ /IND A4+ 180      Affirmed
Neelkanth Yarn                  FB WC limit            IND BB+ /IND A4+ 28       Assigned
PSK Engineering Construction & Co FB WC limits         IND BBB- /IND A3 350      Assigned
Sikko Industries Ltd            FB Fac                 IND B+ /IND A4   70       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Sikko Industries Ltd            Proposed FB limit      Provisional IND  30       Migrated to
                                                       B+                        Non
                                                                                 Cooperating 
                                                                                 Category
Starwing Plastic And Chemicals  FB Fac                 IND B /IND A4    40       Migrated to
Pvt Ltd                                                                          Non
                                                                                 Cooperating 
                                                                                 Category
Sultanpur Nagar Palika Parishad Issuer rating LT       IND BB-                   Withdrawn
Supreme Housing And Hospitality Long-TL                IND D            3900     Migrated to
Pvt Ltd                                                                          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)
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