April 5, 2018 / 7:05 AM / 4 months ago

India Ratings for Indian debt instruments – Apr 5

   Apr 5 (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 4, 2018.
 
COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------    ---------
SHORT TERM RATINGS:
-------------------
Cimechel Electric Company       Non-FB limits          IND A4+          350      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Cimechel Electric Company       Proposed non-FB limits Provisional IND  100      Migrated to
                                                       A4+                       Non
                                                                                 Cooperating
                                                                                 Category
Coirfoam India Pvt Ltd          Non-FB WC              IND A4+          10       Affirmed
Deepak Spinners Ltd             FB limits              IND A3+          50       Affirmed
Deepak Spinners Ltd             Non-FB limits          IND A3+          185      Affirmed
Delco Infrastructure Projects   Non-FB WC Fac          IND A4#          130      Downgraded and
Ltd                                                                              reassigned
# Reassigned ‘IND A4’ after being downgraded to ‘IND D’
Hemraj Devkarandas Metals And   Non-FB Fac             IND A4           60       Assigned
Minerals Ltd
L&T Howden Pvt Ltd              Non-FB limits          IND A1           600      Affirmed
L&T Howden Pvt Ltd              Forward contract limit IND A1           100      Affirmed
Millenium Marble Pvt Ltd        Non-FB Fac             IND A4+          20       Affirmed
Prachi (I) Pvt Ltd              Non-FB WC limit        IND A4+          30       Assigned
Seshsayi Foods Pvt Ltd          Non-FB WC limits       IND A4+          7.8      Affirmed
Sindhu Cargo Services Pvt Ltd   Non-FB limits          IND A4+          20       Assigned

LONG TERM RATINGS:
-------------------
Bhavani Constructions           FB WC limits           IND BB+ /IND A4+ 50       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Cimechel Electric Company       FB limits              IND BB-          180      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Cimechel Electric Company       Proposed-FB limits     Provisional IND  70       Migrated to
                                                       BB-                       Non
                                                                                 Cooperating
                                                                                 Category
Coirfoam India Pvt Ltd          FB WC                  IND BB-/IND A4+  70       Affirmed
Deepak Spinners Ltd             FB limits              IND BBB          600      Affirmed
Deepak Spinners Ltd             Long-TL                IND BBB          830      Affirmed
Delco Infrastructure Projects   FB WC Fac              IND B+/IND A4*   50       Downgraded and
Ltd                                                                              reassigned
* Reassigned ‘IND B+’/‘IND A4’ after being downgraded to ‘IND D’
Energon Gj Wind Power Pvt Ltd   TL                     IND A-           1970     Affirmed
Hemraj Devkarandas Metals And   FB Fac                 IND B/IND A4     85       Assigned
Minerals Ltd
Hemraj Devkarandas Metals And   Proposed FB Fac*       Provisional IND  52       Assigned
Minerals Ltd                                           B /Provisional
                                                       IND A4
* The ratings are provisional and shall be confirmed upon the sanction and
  execution of loan documents for the above facilities by HDMML 
  to the satisfaction of Ind-Ra
Indore Table Tennis Trust       TL                     IND B            72.2     Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Indore Table Tennis Trust       WC Facility            IND B            0.54     Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Jsw Steel Ltd                   NCDs (NCDs)            IND AA-          53510.4  Affirmed
Kims Hospital Enterprises Pvt   TL                     -                200      Withdrawn
Ltd
Kims Hospital Enterprises Pvt   FB WC limits           -                50       Withdrawn
Ltd
Ksc Engineers Pvt Ltd           FB limit               IND BB+/IND A4+  80.4     Affirmed
L&T Howden Pvt Ltd              FB WC limits           IND A            250      Affirmed
Lavish Exim Pvt Ltd             TL (LT)                IND D            51.5     Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Laxmi Rice Mill                 TL                     IND BB-          20.09    Assigned
Laxmi Rice Mill                 FB WC facility         IND BB-/IND A4+  65       Assigned
M/S Heena Enterprises           Proposed FB WC limit   -                100      Withdrawn
M/S Heena Enterprises           FB WC limit            IND BB-/IND A4+  180      Affirmed
Manjeet Fibers Pvt Ltd          TL                     IND BB+          81.1     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Manjeet Fibers Pvt Ltd          FB limits              IND BB+(ISSUER   380      Migrated to
                                                       NOT                       Non
                                                                                 Cooperating
                                                                                 Category
Manjeet Fibers Pvt Ltd          Proposed-FB limits     Provisional IND  120      Migrated to
                                                       BB+                       Non
                                                                                 Cooperating
                                                                                 Category
Mantilal Umraomal               FB limits              IND BB-          50       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Millenium Marble Pvt Ltd        FB Fac                 IND BB-/IND A4+  80       Affirmed
Ntpc Bhel Power Projects Pvt LtdFB limits              -                300      Withdrawn
                                (interchangeable
                                between FB and non-FBL)
Ntpc Bhel Power Projects Pvt LtdNon-FB limits          IND BBB- /IND A3 1700     Downgraded
Prachi (I) Pvt Ltd              TL                     IND BB-          26.58    Assigned
Prachi (I) Pvt Ltd              TL                     IND BB-          4.38     Assigned
Prachi (I) Pvt Ltd              FB WC limit            IND BB-/IND A4+  150      Assigned
Prachi (I) Pvt Ltd              Proposed TL*           Provisional IND  170      Assigned
                                                       BB-
*The rating is provisional and shall be confirmed upon the sanction and execution
 of loan documents for the above facilities by PIPL to the satisfaction of Ind-Ra.
R. Sheladia Construction        TL                     IND BB           175      Assigned
Rwl Healthworld Ltd             TL (LT)                IND D            1287.5   Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
                                                                                 Cooperating
                                                                                 Category
Rwl Healthworld Ltd             WC demand loans (LT)   IND D            250      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Sagar Business Pvt Ltd          FB limits              IND BB           230      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Sagar Business Pvt Ltd          Proposed FB limits     Provisional IND  20       Migrated to
                                                       BB                        Non
                                                                                 Cooperating
                                                                                 Category
Satyajeet Traders               FB WC Fac              IND BBB-/IND A3  95       Affirmed
Seshsayi Foods Pvt Ltd          TL                     IND BB+          121.4    Affirmed
Seshsayi Foods Pvt Ltd          WC TL                  IND BB+          43.75    Affirmed
Seshsayi Foods Pvt Ltd          TL                     IND BB+          17.3     Affirmed
Seshsayi Foods Pvt Ltd          FB WC limits           IND BB+/IND A4+  300      Affirmed
Sindhu Cargo Services Pvt Ltd   FB limits              IND BB+          450      Assigned
Sindhu Cargo Services Pvt Ltd   Proposed FB limits*    Provisional IND  530      Assigned
                                                       BB+
*The rating is provisional and shall be confirmed upon the sanction and 
 execution of loan documents for the above facilities by SCSPL
 to the satisfaction of Ind-Ra. 
Torque Commercial Vehicles Pvt. FB WC limits           IND B+           150      Assigned
Ltd
Vaishnodevi Refoils & Solvex    FB limits              IND BB+          300      Assigned
Vaishnodevi Refoils & Solvex    TL 1                   IND BB+          3.7      Assigned
Vaishnodevi Refoils & Solvex    TL 2                   IND BB+          5.1      Assigned
-----------------------------------------------------------------------------------------------
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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