August 2, 2019 / 4:17 AM / 17 days ago

India Ratings for Indian debt instruments – Aug 2

    Aug 2 (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 1, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Casablanca Multiventures        Non-FB limits (ST)     IND D            140      Downgraded
Dineshchandra R Agrawal InfraconNon-FB WC Fac          IND A1+          11050    Affirmed
Dineshchandra R Agrawal InfraconNon-FB WC Fac#         IND A1+          450      Assigned
#Converted from provisional to final rating based on the receipt of final documentation
Dineshchandra R Agrawal InfraconProposed non-FB WC     Provisional IND  300      Affirmed
                                facility*              A1+
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the proposed facilities by DRAIPL to the satisfaction of Ind-Ra.
Northern Arc 2019 Csl Aries     Series A1 pass-through IND A3+          132.9    Assigned
                                certificates (PTCs)
Srr Projects                    Non-FB WC limits       IND A3           1212.5   Downgraded
Srr Projects                    Non-FB-WC limits*      IND A3           350      Downgraded &
                                                                                 Assigned
*Downgraded to ‘Provisional IND A3’ and assigned the final rating following the receipt of
executed financing documents by Ind-Ra.
Srr Projects                    Proposed non-FB-WC     Provisional IND  162.5    Assigned
                                limits#                A3
#The rating is provisional and shall be confirmed upon the sanction and execution of
loan/transaction documents for the above instruments to the satisfaction of Ind-Ra.
  
LONG TERM RATINGS:
-------------------
Brattle Foods                   TL                     IND BBB          583.3    Affirmed
(Outlook revised to Negative from Stable)
Casablanca Multiventures        FB WC limits (LT/ST)   IND D            10       Downgraded
Dineshchandra R Agrawal InfraconFB WC Fac              IND A+           650      Affirmed
Dineshchandra R Agrawal InfraconFB WC Fac#             IND A+           150      Assigned
#Converted from provisional to final rating based on the receipt of final documentation
Dineshchandra R Agrawal InfraconProposed FB WC         Provisional IND  400      Affirmed
                                facility*              A+
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the proposed facilities by DRAIPL to the satisfaction of Ind-Ra.
K Maniar                        Long-TL                IND BB           353.285  -
(Migrated to non-cooperating category)
Raj Arcade Homes                Long-TL                IND BB           776.747  -
(Migrated to non-cooperating category)
Srr Projects                    FB WC limits           IND BBB- /IND A3 430      Downgraded
Tvs Automobile Solutions        Bk loan limits         IND A- /IND A2+  2000     Assigned
Utkal Healthcare                TL                     IND BB           450      -
(Migrated to 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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