August 23, 2017 / 4:49 AM / a month ago

India Ratings for Indian debt instruments – Aug 23

    Aug 23 (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 22, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Bhandari Exports Industries Ltd Non- fund- based limit IND A4+          80       Assigned
Chandra Prabhu International LtdNon- fund- based limitsIND A4+          170      Affirmed
Classic Bottle Caps Pvt Ltd     Proposed non- fund-    Provisional IND  20       Assigned
                                based WC limit         A3
Gati-Kintetsu Express Pvt Ltd   CP programme           WD               1100     Withdrawn
Shakti Component Ventures Pvt   Non- fund- based Fac   IND A4+          15       Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Ansal Housing & Construction LtdSecured overdraft      IND D            750      Downgraded
                                limits
(ISSUER NOT COOPERATING)
Ansal Housing & Construction LtdNon- fund- based limitsIND D            716.3    Downgraded
(ISSUER NOT COOPERATING)
Ansal Housing & Construction LtdFixed deposit programmeIND tD           1400     Downgraded
(ISSUER NOT COOPERATING)
B.L. Agro Oils Ltd              Long- TL               IND BBB          770      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
B.L. Agro Oils Ltd              Fund- based limit      IND BBB/ IND A3+ 2750     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Bhandari Exports Industries Ltd TL                     IND BB+          30       Assigned
Bhandari Exports Industries Ltd Fund- based WC limit   IND BB+/ IND A4+ 280      Assigned
Chandra Prabhu International LtdFund- based limits     IND BB-/ IND A4+ 10       Rating
                                                                                 affirmed;
Outlook revised to Negative from Stable
Classic Bottle Caps Pvt Ltd     TL                     IND BBB-         20       Assigned
Classic Bottle Caps Pvt Ltd     Fund- based WC limit   IND BBB-/ IND A3 260      Assigned
Globarena Technologies Pvt Ltd  Fund- based WC limits  IND B+/ IND A4   70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Karnataka Water And Sanitation  TL                     IND AA-(SO)      2500     Affirmed
Pooled Fund Trust
Karnataka Water And Sanitation  TL                     IND AA-(SO)      3500     Affirmed
Pooled Fund Trust
Karnataka Water And Sanitation  TL^                    IND AA-(SO)      3500     Assigned
Pooled Fund Trust
^ The assignment of final rating follows the receipt of the sanction letter, tripartite
agreement and government order
M/S George Maijo Industries Pvt Fund- based Fac        IND BB-/ IND A4+ 100      Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Manidhari Guar Gum Industries   Fund- based WC limit   IND B-/ IND A4
(ISSUER NOT COOPERATING)
Manjeet Cotton Pvt Ltd          TL                     IND BBB+         416.5    Upgraded
(increased from 228.7 MLN)
Manjeet Cotton Pvt Ltd          Fund- based and non-   IND BBB+/ IND A2 3,820*   Upgraded
                                fund- based Bk Fac
* The fund-based and non-fund-based limits are interchangeable in nature.; (increased from 3,280
MLN)
Manjeet Cotton Pvt Ltd          Proposed fund- based   WD               440      Withdrawn (the
                                limits                                           issuer did not
                                                                                 proceed with
                                                                                 the instrument
                                                                                 as envisaged)
Mash Agro Foods Ltd.            Fund- based limits     IND BBB-/ IND A3 150      Assigned
Mash Agro Foods Ltd.            Proposed fund- based   Provisional IND  275      Assigned
                                limits                 BBB-/
                                                       Provisional IND A3
Oasis Overseas Exports Pvt Ltd  Fund- based WC limits  WD               202.6    Withdrawn
Oasis Overseas Exports Pvt Ltd  Non- fund- based WC    WD               23.6     Withdrawn
                                limits
Oasis Overseas Exports Pvt Ltd  TL                     WD               288.9    Withdrawn
Shakti Component Ventures Pvt   TL                     IND BB-          0.85     Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shakti Component Ventures Pvt   Fund- based Fac        IND BB-/ IND A4+ 70       Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
V S Education Foundation        TL                     IND B            75       Assigned
-----------------------------------------------------------------------------------------------
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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