August 16, 2019 / 5:10 AM / 2 months ago

India Ratings for Indian debt instruments – Aug 16

    Aug 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
August 14, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Rungta Sons Pvt Ltd             FB limits              IND A1+          2000     Affirmed
(increased from INR500)
The Indian Wood Products Co. LtdNon-FB WC limits       IND A3+          250      -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Vivo Mobile India Pvt Ltd       NCDs (NCDs)            INR7             43822    IND BB/RWN
(Placed on  RWN)

LONG TERM RATINGS:
-------------------
Bhargava Educational Society    TL                     IND B+           58       -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Bhargava Educational Society    WC facility            IND B+           5        -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Bonai Industrial Co. Ltd        FB limits              IND A1+/RWN      2000     -
(increased from INR500),Placed on RWN
Calcutta Electrodes Pvt Ltd     FB WC limit            IND BB-          70       -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Feegrade & Company Pvt Ltd      FB limits              IND A1+/RWN      1500     -
(increased from INR500),Placed on RWN
Jsw Techno Projects Management  Tranche A NCDs         IND A(SO)        1500     IND A(SO)
Ltd
Jsw Techno Projects Management  Tranche B NCDs         IND A(SO)        1500     IND A(SO)
Ltd
Mangilall Rungta                LT                     IND A            -        -
Mfl Securitisation Trust LxxxviiSeries A1 pass-through Provisional IND  2438.1   Assigned
                                certificates (PTCs)*   AA(SO)
(* The assignment of final ratings is contingent upon the receipt of final documents conforming
to the information already received.)
Mfl Securitisation Trust LxxxviiSeries A2 PTCs*        Provisional IND  62.5     Assigned
                                                       AA(SO)
(* The assignment of final ratings is contingent upon the receipt of final documents conforming
to the information already received.)
Mfl Securitisation Trust LxxxviiSecond-loss credit     Provisional IND  62.5     Assigned
                                facility (SLCF)*       BBB-(SO)
(* The assignment of final ratings is contingent upon the receipt of final documents conforming
to the information already received.)
Rank Silicon And Industries Pvt FB WC limit            IND BBB-         130      -
Ltd
(Migrated to non-cooperating category,Issuer Not Cooperating)
Rungta Mines Ltd.               FB limits              IND A1+/RWN      5000     -
(increased from INR3,300),Placed on RWN
Sansar Trust June 2018          Second loss credit     IND A-(SO)       375.68   Affirmed
                                facility (SLCF)
Sansar Trust June 2018          Series A pass-through  IND AAA(SO)      4066.9   Affirmed
                                certificates (PTCs)
The Indian Wood Products Co. LtdFB WC limits           IND BBB          410      -
(Migrated to non-cooperating category,Issuer Not Cooperating)
The Indian Wood Products Co. LtdTL                     IND BBB          43.3     -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Trn Energy Pvt Ltd              TL                     IND BBB          28156.9  Downgraded
(INR24,638.30 outstanding as on 31 March 2019)
Trn Energy Pvt Ltd              External commercial    IND BBB          -        Downgraded
                                borrowing (ECB)
(USD39.22outstanding as on 31 March 2019)
Trn Energy Pvt Ltd              FB limits              IND BBB          2050     Downgraded
Trn Energy Pvt Ltd              Non-FBL                IND BBB          1500     Downgraded
Trn Energy Pvt Ltd              Non-FB limits*         IND BBB          750      Downgraded and
                                                                                 assigned
(*The final rating has been assigned following the receipt of sanction letter for the above
facilities by Ind-Ra)
Trn Energy Pvt Ltd              Loan equivalent risk   IND BBB          700      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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