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India Ratings for Indian debt instruments – Aug 22
August 22, 2017 / 3:57 AM / a month ago

India Ratings for Indian debt instruments – Aug 22

    Aug 22 (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 21, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Gati                            Non-FB WC limits       IND A2+          50       -
Migrated to Non-Cooperative Category
Mahakali Ispat                  Non-FB limit           IND A4           11.5     Assigned
Shree Radha Vallabh Giriraj     Non-FB WC limit        IND A4           110      -
Migrated to Non-Cooperative Category
Wilson’S Additional             CP                     IND A1+          1000     Assigned


LONG TERM RATINGS:
-------------------
Ford India                      Bk Fac                 IND AAA/A1+      19000    Assigned
Ford Motor Pvt Ltd              Bk Fac                 IND AAA/A1+      2        Assigned
Gati                            TL                     IND A-           798.3    -
Migrated to Non-Cooperative Category
Gati                            FB WC limits           IND A-           450      -
Migrated to Non-Cooperative Category
Gati                            Proposed FB WC limits  Provisional IND  200      -
                                                       A-
Migrated to Non-Cooperative Category
Gati                            Proposed TL            Provisional IND  200      -
                                                       A-
Migrated to Non-Cooperative Category
India Standard Loan Trust Xlv   Series A pass-through  IND A            2347.9   Assigned
                                certificates (PTCs)
India Standard Loan Trust Xlv   Liquidity facility (LF)IND AAA          23.48    Assigned
India Standard Loan Trust Xlv   Second loss credit     IND BBB          90.4     Assigned
                                facility (SLCF)
J.R. Agrotech                   FB Limit ((Long- and   IND D            2800     Downgraded
                                ST)                                              from IND BBB-
Migrated to Non-Cooperative Category
J.R. Agrotech                   TL                     IND D            150      Downgraded
                                                                                 from IND BBB-
Migrated to Non-Cooperative Category
J.R. Agrotech                   Proposed FB and non-FB IND D            400      Withdrawn
                                limit
M/S George Maijo Industries     FB Fac                 IND BB-          100      -
Migrated to Non-Cooperative Category
M/S Magnolia                    TL                     IND BB+          23.95    -
Migrated to Non-Cooperative Category
M/S Magnolia                    FB Fac                 IND BB+ / A4+    65       -
Migrated to Non-Cooperative Category
Mahakali Ispat                  FB limit               IND B+           45       Assigned
Rf Trus                         Series A pass-through  IND BBB          243.6    Affirmed
                                certificates (PTCs)
Shree Radha Vallabh Giriraj     FB WC limit            IND B / A4       35       -
Migrated to Non-Cooperative Category
Vama Woven                      TL (LT)                IND D            120      -
Migrated to Non-Cooperative Category
Vama Woven                      FB limits (LT)         IND D            65       -
Migrated to Non-Cooperative Category
Vector Green Sunshine           NCD                    IND A-           -        Assigned
Wilson’S Additional             Non-FB limits*         IND AA-/A1+      6500     Assigned
* The assignment of final ratings follows the receipt of executed financing documents.

-----------------------------------------------------------------------------------------------
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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