August 21, 2019 / 4:53 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 20, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Longowalia Yarns Ltd            Non-FB WC limit        IND A3           110      Affirmed
Longowalia Yarns Ltd            Non-FB WC limit*       IND A3           30       Assigned
*The final rating has been assigned following the receipt of executed financing documents by
Ind-Ra.
Parayil Food Products Pvt Ltd   Non-FB WC limit        IND A4+          10       Affirmed
(increased from INR5)

LONG TERM RATINGS:
-------------------
Aruna Industrial Products Pvt   TL                     IND BB-          163      -
Ltd
(Migrated to non-cooperating category,Issuer Not Cooperating)
Aruna Industrial Products Pvt   FB WC  limits          IND BB-/IND A4+  50       -
Ltd
(Migrated to non-cooperating category,Issuer Not Cooperating)
Aruna Industrial Products Pvt   Proposed TL            Provisional IND  67       -
Ltd                                                    BB-
(Migrated to non-cooperating category,Issuer Not Cooperating)
Criyagen Agri & Biotech Pvt Ltd TL                     IND BB-          68.4     Assigned
Criyagen Agri & Biotech Pvt Ltd WC limits              IND BB-/IND A4+  70       Assigned
Gsn Ferro Alloys Pvt Ltd        TL (LT)                IND D            668.7    Affirmed
Issuer did not cooperate; based on best available information
Gsn Ferro Alloys Pvt Ltd        FB Fac (LT/ST)         IND D            222.5    Affirmed
Issuer did not cooperate; based on best available information
Gsn Ferro Alloys Pvt Ltd        Non-FB Fac (ST)        IND D            57.5     Affirmed
Issuer did not cooperate; based on best available information
Hindustan Coca-Cola Beverages   FB and non-FB WC limitsIND AAA/IND A1+  22000    Affirmed
Pvt Ltd
J.P Infra (Mumbai) Pvt Ltd      NCD                    IND BBB-         1000     Affirmed
Longowalia Yarns Ltd            TL                     IND BBB-         288.41   Affirmed
(reduced from INR437.7)
Longowalia Yarns Ltd            FB WC limit            IND BBB-/IND A3  580      Affirmed
Longowalia Yarns Ltd            FB WC limit*           IND BBB-/IND A3  100      Assigned
*The final rating has been assigned following the receipt of executed financing documents by
Ind-Ra.
Longowalia Yarns Ltd            Proposed TL            WD               96       Withdrawn 
(the company did not proceed with the instrument as envisaged)
Megha Engineering &             Non-FB limits*         IND AA-/IND A1+  5        Assigned
Infrastructures Ltd’S
*The final rating has been assigned following the receipt of the executed financing documents by
Ind-Ra.
Nimp Healthcare Pvt Ltd         TL (LT)                IND D            44.5     Affirmed
Issuer did not cooperate; based on the best-available information
Nimp Healthcare Pvt Ltd         FB WC facility (LT/ST) IND D            22.5     Affirmed
Issuer did not cooperate; based on the best-available information
Northern Arc 2019 Sbl Toledo    Series A1 pass-through Provisional IND  156.47   Assigned
                                certificates (PTCs)    A(SO)
Northern Arc 2019 Sbl Toledo    Series A2 PTCs         Provisional IND  3.6      Assigned
                                                       BBB+(SO)
Panchshil Corporate Park Pvt LtdTranche 1 NCDs         IND AAA(SO)      3550     Affirmed
Panchshil Corporate Park Pvt LtdTranche 2 NCDs         IND AAA(SO)      470      Affirmed
Panchshil Corporate Park Pvt LtdTranche 3 NCDs         IND AAA(SO)      480      Affirmed
Parayil Food Products Pvt Ltd   TL                     IND BB+          6.93     Upgraded
(reduced from 10)
Parayil Food Products Pvt Ltd   FB WC limit            IND BB+/IND A4+  120      -
Long-term upgraded, Short-term affirmed
R. Sheladia Developers          TL                     IND B+           100      -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Shemaroo Entertainment Ltd      FB WC limits*          WD               1250     Affirmed and
                                                                                 withdrawn
*Affirmed at ‘IND A’/Stable before withdrawal
Shemaroo Entertainment Ltd      TL*                    WD               229.5    Affirmed and
                                                                                 withdrawn
*Affirmed at ‘IND A’/Stable before withdrawal
Siddapur Distilleries Ltd       TL                     IND BB+          44.4     -
(Migrated to non-cooperating category,Issuer Not Cooperating)
Skylark Realtors Pvt. Ltd.      Long-TL                IND BBB-         2000     Affirmed
Skylark Realtors Pvt. Ltd.      Long-TL*               IND BBB-         1500     Assigned
*The final ratings have been assigned following the receipt of executed financing documents by
Ind-Ra.
Skylark Realtors Pvt. Ltd.      NCD                    WD               500      Withdrawn
(paid in full)
Southern Petrochemical          Proposed FB WC limits* Provisional IND  5000     Affirmed
Industries Corporation Ltd                             BBB
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the abo
Tata Power Co. Ltd              NCDs                   IND AA           3        Affirmed
Tata Power Co. Ltd              NCDs                   IND AA           3        Affirmed
Tata Power Co. Ltd              NCDs                   IND AA           3        Affirmed
Tata Power Co. Ltd              NCDs                   IND AA           3        Affirmed
Tata Power Co. Ltd              NCDs                   IND AA           3        Affirmed
-----------------------------------------------------------------------------------------------
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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