August 20, 2018 / 3:48 AM / 3 months ago

India Ratings for Indian debt instruments – Aug 20

    Aug 20 (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 17, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Baidyanath Renewables Pvt Ltd   Non-FB WC  Fac         IND A2           346.6    Assigned
High Ground Enterprise Ltd      Non-FB WC limits       IND A2           5
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
S.M. Cold Storage Pvt Ltd       FB limit - ST bulk     IND A4           36.32
                                finance
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
S.M. Cold Storage Pvt Ltd       FB limit - ST          IND A4           9.74
                                operating expenses
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
S.M. Cold Storage Pvt Ltd       FB limit - Secured     IND A4           3.52
                                overdraft limit
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
S.M. Cold Storage Pvt Ltd       Non-FB limit - Letter  IND A4           2.6
                                of guarantee
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Sambandam Spinning Mills Ltd    Non-FB Fac             IND A3           130      Affirmed
Shri Saravana Industries Pvt LtdNon-FB limits          IND A4           253
(Issuer Not Cooperating); Migrated to Non-Cooperating Category

MEDIUM TERM RATINGS:
-------------------
Sambandam Spinning Mills Ltd    Fixed deposit programmeIND tA-          69.7     Affirmed
increased from 53.8 mln
Sambandam Spinning Mills Ltd    Proposed fixed deposit Provisional IND  150.3    Assigned
                                programme*             tA-
* The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by SSML to the satisfaction of Ind-Ra.

LONG TERM RATINGS:
-------------------
Baidyanath Renewables Pvt Ltd   TL                     IND BBB          53.1     Assigned
Baleshwar Kharagpur Expressway  Senior project Bk loansIND BB-/RWN      3936.2
Ltd
reduced from 3,952.10 mln; Downgraded, placed on RWN
Barwa Adda Expressway Ltd       TL                     IND B+/RWN       14400
Downgraded, Placed on RWN
Eastern Travels Pvt Ltd         FB limit               IND BB           90
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Eastern Travels Pvt Ltd         Proposed FB limits     Provisional IND  30
                                                       BB
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Gvr Ashoka Chennai Orr Ltd      Senior project TL (LT) IND D            10800
(Issuer Not Cooperating); Migrated to non-cooperating category
Gvr Behari Hanumana Tollway Pvt TL                     IND D            1086.9   Affirmed
Ltd
(Issuer Not Cooperating)
Gvr Panna Amanganj Tollway Pvt  TL (LT)                IND D            870.7    Affirmed
Ltd
(Issuer Not Cooperating)
High Ground Enterprise Ltd      Long-TL                IND BBB          37.5
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
High Ground Enterprise Ltd      FB WC limits           IND BBB          202.5
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Next Generation Charitable TrustTL                     IND BB-          53.11
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Rishanth Wholesale Trading Pvt  Proposed NCDs (NCDs)*  Provisional IND A8500     Assigned
Ltd
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by RWTPL to the satisfaction of Ind-Ra. 
Sambandam Spinning Mills Ltd    TL                     IND BBB-         152.1    Affirmed
reduced from 179.6 mln
Sambandam Spinning Mills Ltd    FB WC Fac              IND BBB-/IND A3  494      Affirmed
reduced from 512.5 mln
Shri Saravana Industries Pvt LtdFB WC limits           IND B+/IND A4    45
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Sikar Bikaner Highway Ltd       Senior project Bk loansIND B+/RWN       4000
Downgraded; Placed on RWN
-----------------------------------------------------------------------------------------------
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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