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India Ratings for Indian debt instruments – Aug 21
August 21, 2017 / 4:40 AM / a month ago

India Ratings for Indian debt instruments – Aug 21

    Aug 21 (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 18, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
A K Lumbers Ltd                 NFBL                   IND A4+          90.5     Assigned
High Ground Enterprise Ltd      Non-FB WC limits       IND A2           50       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
India Coke And Power Pvt Ltd    Non-FB WC limits       IND A4+          1000     Assigned
India Glycols Ltd               Non-FB limit           IND A3+          14003    Affirmed
(reduced from INR14,726)
Jindal Wood Products Pvt Ltd    NFBL                   IND A4+          170      Assigned
Petron Engineering Construction Non-FB limits          IND A4+          4120     Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Petron Engineering Construction Proposed non-FB limits IND A4+          650      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Punjab Metal Works Pvt Ltd      NFBL                   IND A4+          50       Assigned
Svasca Industries (I) Ltd       Non-FB WC limit        IND A4           160      Migrated to
                                                                                 Cooperating
                                                                                 Category
Titanium Equipment And Anode    Non-FB limits          IND A3           120      Migrated to
Manufacturing Co. Ltd                                                            Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd  Fixed deposit programmeIND tAA/RWE      -        Maintained on
                                                                                 RWE


LONG TERM RATINGS:
-------------------
A K Lumbers Ltd                 FBL                    IND BB- / IND A4+45       Assigned
Abhirama Steels Ltd             TL (LT)                IND D            16.2     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Abhirama Steels Ltd             FB WC facility (LT/ST) IND D            400      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Abhirama Steels Ltd             Proposed FB WC         IND D            200      Migrated to
                                facility (LT/ST)                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Cosmos Industries Ltd           FB WC limits           IND BB / IND A4+ 620      Affirmed
High Ground Enterprise Ltd      Long-TL                IND BBB          37.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
High Ground Enterprise Ltd      FB WC limits           IND BBB          202.5    Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
India Glycols Ltd               TL                     IND BBB          1131.8   Affirmed
(reduced from INR1,443)
India Glycols Ltd               FB limit               IND BBB / IND A3+4150     Affirmed
Jindal Wood Products Pvt Ltd    FBL                    IND BB- / IND A4+40       Assigned
M C Spinners Pvt Ltd            TL (LT)                IND D            256.5    Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
M C Spinners Pvt Ltd            FB limits (LT)         IND D            150      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
M C Spinners Pvt Ltd            Non-FB limits (ST)     IND D            22       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
M.S. Cold Storage               TL                     IND BB-          90.1     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Oasis Commercial Pvt Ltd        FB WC limits           WD               450      Withdrawn
Oasis Commercial Pvt Ltd        Non-FB WC limits       WD               50       Withdrawn
Oasis Commercial Pvt Ltd        TL                     WD               591.3    Withdrawn
Petron Engineering Construction TL                     IND BB-          121.6    Downgraded
Ltd                                                                              from IND BBB-
Migrated to Non - Cooperating Category,(ISSUER NOT COOPERATING)
Petron Engineering Construction FB limits              IND BB-          845      Downgraded
Ltd                                                                              from IND BBB-
Migrated to Non - Cooperating Category,(ISSUER NOT COOPERATING)
Petron Engineering Construction Proposed TL            IND BB-          200      Downgraded
Ltd                                                                              from IND BBB-
Migrated to Non - Cooperating Category,(ISSUER NOT COOPERATING)
Petron Engineering Construction Proposed FB limits     IND BB-          350      Downgraded
Ltd                                                                              from IND BBB-
Migrated to Non - Cooperating Category,(ISSUER NOT COOPERATING)
Punjab Metal Works Pvt Ltd      FBL                    IND BB- / IND A4+30       Assigned
Sara Creation Inc.              TL                     IND BB-          50       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Sara Creation Inc.              FB WC limit            IND BB- / IND A4+60       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Shriram City Union Finance Ltd  Bk loan                IND AA/RWE       150000   Maintained on
                                                                                 RWE
Shriram City Union Finance Ltd  LT debt programme*     IND AA/RWE       3000     Maintained on
                                                                                 RWE
Sri Kaliswari Metal Powders Pvt FB limits              IND BB+(SO) /    40       Migrated to
Ltd                                                    IND A4+(SO)               Non -
                                                                                 Cooperating
                                                                                 Category
Sri Kaliswari Metal Powders Pvt Non-FB limits          IND BB+(SO) /    155.6    Migrated to
Ltd                                                    IND A4+(SO)               Non -
                                                                                 Cooperating
                                                                                 Category
Svasca Industries (I) Ltd       FB WC limit            IND B+           130      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Titanium Equipment And Anode    FB limits              IND BBB-         45       Migrated to
Manufacturing Co. Ltd                                                            Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
-----------------------------------------------------------------------------------------------
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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