Reuters logo
India Ratings for Indian debt instruments – Aug 29
August 29, 2017 / 5:38 AM / in 3 months

India Ratings for Indian debt instruments – Aug 29

    Aug 29 (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 28, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Auro Impex & Chemicals Pvt. Ltd.Non-FB limits          IND A4+          55       Assigned
Auro Impex & Chemicals Pvt. Ltd.Proposed non-FB limits*Provisional IND  16.5     Assigned
                                                       A4+
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by AICPL to the satisfaction of Ind-Ra.
Bhaskar Tea & Industries Pvt LtdNon-FB WC  limits      IND A4           0.7      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Bkd Infrastructure Pvt Ltd      Non-FB working limits  IND A4+          120      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Clifton Export Pvt Ltd          FB WC limits           IND A3           420      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Clifton Export Pvt Ltd          Non-FB WC limits       IND A3           11.5     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dantal Hydraulics Pvt Ltd       Non-FB WC limit        IND A3           225      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kalindi Ispat Pvt Ltd           Non-FB WC limit        IND A4+          10       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Mukand System & Networking Pvt  Non-FB limits          IND A4+          40       Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Pawan Communication Pvt Ltd     Non-FB WC limit        IND A4+          20       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rajendra Singh Kiledar          Non-FB limits          IND A3           305      Migrated to
Constructions Pvt Ltd                                                            Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rswm Ltd                        CP                     IND A1           2500     Downgraded
Sat Inder Constructions Pvt Ltd Non-FB WC limit        IND A4+          45       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Vasundhara Chem Plast IndustriesNon-FB WC limits       IND A4           20.4     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Welcast Products Pvt. Ltd.      FB WC limits           IND A4           170      Affirmed

LONG TERM RATINGS:
-------------------
Auro Impex & Chemicals Pvt. Ltd.FB limits              IND BB-          120      Assigned
Avinash Ispat Pvt Ltd           FB WC limits           IND BB-          110      Affirmed
Avinash Ispat Pvt Ltd           Long-TL                WD               2.68     Withdrawn
                                                                                 (repaid in
                                                                                 full)
Bhaskar Tea & Industries Pvt LtdFB WC  limits          IND B-           54       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Bkd Infrastructure Pvt Ltd      FB working limits      IND BB+          20       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Castings India Pvt Ltd          FB WC facility         IND B+           50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Castings India Pvt Ltd          TL                     IND B+           14       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Clifton Export Pvt Ltd          Long-TL                IND BBB-         112      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Concord Hospitality Pvt Ltd     TL (LT)                IND D            516.5    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dantal Hydraulics Pvt Ltd       TL                     IND BBB-         204.96   Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dantal Hydraulics Pvt Ltd       FB WC limit            IND BBB- / IND A3480      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dantal Hydraulics Pvt Ltd       Proposed FB WC limit   Provisional IND  90.04    Migrated to
                                                       BBB- /                    Non-
                                                       Provisional IND A3        Cooperating
Category
(ISSUER NOT COOPERATING)
Himachal Futuristic             6.5% Cumulative        IND BBB-         805      Ratings
Communications Ltd              redeemable PS                                    affirmed;
                                                                                 Outlook revised
to Negative from Stable
Himachal Futuristic             TL                     IND BBB+         2104.5   Ratings
Communications Ltd                                                               affirmed;
                                                                                 Outlook revised
to Negative from Stable
(reduced from 2,609.1)
Himachal Futuristic             FB WC limits           IND BBB+ /IND A2+1500     Ratings
Communications Ltd                                                               affirmed;
                                                                                 Outlook revised
to Negative from Stable
Himachal Futuristic             Non-FB WC limits       IND BBB+ /IND A2+4507     Ratings
Communications Ltd                                                               affirmed;
                                                                                 Outlook revised
to Negative from Stable
India Standard Loan Trust XLVIIISeries A pass-through  IND AAA(SO)      1491.1   Assigned
                                certificates (PTCs)
India Standard Loan Trust XLVIIILiquidity facility (LF)IND AAA(SO)       14.9    Assigned
India Standard Loan Trust XLVIIISecond loss credit     IND BBB(SO)      92.4     Assigned
                                facility (SLCF)
K. Maganlal Impex               FB WC limits           IND BB+          110      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kalindi Ispat Pvt Ltd           FB WC limit            IND BB-          117.5    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Makino Automotive               TL                     IND BBB-         10       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Makino Automotive               FB limit               IND BBB- / IND A360       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Mukand System & Networking Pvt  FB limits              IND BB+          32.5     Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Naagaami Infratech Pvt Ltd      Proposed FB limits     Provisional IND  300      Migrated to
                                                       BB-                       Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Pawan Communication Pvt Ltd     FB WC limit            IND BB           30       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Pragati Milk Products Pvt Ltd.  FB working limits      IND BBB-         50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Pragati Milk Products Pvt Ltd.  Long-TL                IND BBB-         105.8    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rajendra Singh Kiledar          TL                     IND BBB-         0.97     Migrated to
Constructions Pvt Ltd                                                            Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rajendra Singh Kiledar          FB limits              IND BBB-         20       Migrated to
Constructions Pvt Ltd                                                            Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rishi Traders                   FB limits              IND B+           80       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rishi Traders                   TL                     IND B+           13       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rswm Ltd                        TL                     IND A+           6912.6   Rating
                                                                                 affirmed;
                                                                                 Outlook revised
to Negative from Stable
(reduced from 9,142)
Rswm Ltd                        FB limits              IND A+ /IND A1   8200     Long- term
                                                                                 rating
                                                                                 affirmed;
Outlook revised to Negative from Stable; Short- term rating downgraded
Rswm Ltd                        Non-FB limits          IND A+ /IND A1   1485     Long- term
                                                                                 rating
                                                                                 affirmed;
Outlook revised to Negative from Stable; Short- term rating downgraded
Sat Inder Constructions Pvt Ltd FB WC limit            IND BB-          50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sat Inder Constructions Pvt Ltd Long-TL                IND BB-          7.3      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Vasundhara Chem Plast IndustriesFB WC limits           IND B+           80       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Vasundhara Chem Plast IndustriesLong-TL                IND B+           10.64    Migrated to
                                                                                 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below