August 30, 2018 / 4:09 AM / 3 months ago

India Ratings for Indian debt instruments – Aug 30

    Aug 30 (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 29, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Columbia Petro Chem Pvt Ltd     Non-FBL                IND A2+          4450
(Issuer Not Cooperating); Migrated to non-cooperating category
Gallantt Metal Ltd              Non-FB limits          IND A1           1250     Upgraded
Punjab Metal Works Pvt Ltd      Non-FBL                IND A4+          50
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Shakti Component Ventures Pvt   Non-FB Fac             IND A4+          15
Ltd
(Issuer Not Cooperating); Maintained in non-cooperating category

LONG TERM RATINGS:
-------------------
Columbia Petro Chem Pvt Ltd     FB limits              IND A-/IND A2+   300
(Issuer Not Cooperating); Migrated to non-cooperating category
Dinesh Oils Ltd                 FB limit (long- and ST)IND D            600
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Dinesh Oils Ltd                 Non-FB limit (long-    IND D            1082
                                and ST)
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Dinesh Oils Ltd                 Long-TL (LT)           IND D            10
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Gallantt Metal Ltd              FB limits              IND A/IND A1     500      Upgraded
Gee Emm Overseas                FB WC limit            IND B+ /IND A4   60
(Issuer Not Cooperating); Maintained in non-cooperating category
M/S Saka Embroidery Pvt Ltd     Long-TL                IND BB-          72.87
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
M/S Saka Embroidery Pvt Ltd     FB WC limits           IND BB-/IND A4+  62.5
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Northern Arc 2018 MFI Prithvi   Series A1 pass-through Provisional IND  2210.3   Assigned
(An Abs Transaction)            certificates (PTCs)*   A(SO)
* The final rating is contingent upon the receipt of the final documents conforming to the
information already received. 
Nupur Finvest Pvt Ltd           LT Bk loans*           IND A-(SO)       1800     Assigned
* The final rating has been assigned upon the receipt of the final documents.
Nupur Finvest Pvt Ltd           LT Bk loans            IND A-(SO)       700
Rating affirmed; Outlook revised to Stable
Paisalo Digital Ltd             LT Bk loans            IND A-           9900
increased from 8,000 mln; Outlook revised to Stable; rating affirmed
Paisalo Digital Ltd             LT debentures          WD               1000
Withdrawn (the company did not proceed with the instrument as envisaged)
Punjab Metal Works Pvt Ltd      FB limits              IND BB-/IND A4+  30
(Issuer Not Cooperating); Migrated to Non-Cooperating Category
Sara Creation Inc.              TL                     IND BB-          50
(Issuer Not Cooperating); Maintained in non-cooperating category
Sara Creation Inc.              FB WC  limit           IND BB-/IND A4+  60
(Issuer Not Cooperating); Maintained in non-cooperating category
Shakti Component Ventures Pvt   TL                     IND BB-          0.85
Ltd
(Issuer Not Cooperating); Maintained in non-cooperating category
Shakti Component Ventures Pvt   FB Fac                 IND BB-/IND A4+  70
Ltd
(Issuer Not Cooperating); Maintained in non-cooperating category
-----------------------------------------------------------------------------------------------
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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