August 30, 2017 / 4:00 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, 2017.

COMPANY                         INSTRUMENT              RATING        AMOUNT     MOVEMENT
                                                                      (RS.MLN)
------                          ----------              ------        ------     ---------
SHORT TERM RATINGS:
-------------------
Adhunik Corporation Ltd         Non-FB WC limit        IND A3           220      Placed on RWN
Al Gayathri Trading Company Pvt Non-FB limit           IND A4+          1        Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Gopala Polyplast Ltd            Non-FB limits          IND A4+          23       Affirmed
Iraki Trading Co                Non-FB WC limits       IND A4+          75       Affirmed
Ramesh Chandra Rai              Non-FB WC limit        IND A4           45       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Siddhardha Constructions Pvt LtdNon-FB WC limit        IND A3+          360      Upgraded
Tarun Enterprise                Non-FB WC limits       IND A4+          75       Affirmed


LONG TERM RATINGS:
-------------------
Adhunik Corporation Ltd         FB WC limits           IND BBB-         550      Placed on RWN
Al Gayathri Trading Company Pvt FB limit               IND BB+          55       Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Binayak Hi-Tech Engineering Ltd FB WC limit            IND BB /IND A4+  140      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Binayak Hi-Tech Engineering Ltd Proposed TL            Provisional IND  65       Migrated to
                                                       BB                        Non -
                                                                                 Cooperating
                                                                                 Category
Crd Foods Pvt Ltd               FB WC limits           IND B+           100      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Crd Foods Pvt Ltd               TL                     IND B+           178      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Dtc Securities Ltd              Proposed TL*           Provisional IND  305      Affirmed
                                                       BB
* The rating is provisional and shall be confirmed upon the sanction and 
  execution of loan documents for the above facility
  by DTCSL to the satisfaction of Ind-Ra.
Gopala Polyplast Ltd            Secured TL             IND BB-          225.7    Affirmed
Gopala Polyplast Ltd            CC facility            IND BB-          500      Affirmed
Haq Steels Pvt Ltd              TL                     IND BB           146.5    Affirmed
Haq Steels Pvt Ltd              FB WC limits           IND BB /IND A4+  180      Affirmed
Iraki Trading Co                FB WC limits           IND BB /IND A4+  40       Affirmed
Kayaar Exports Pvt Ltd          FB Fac                 IND BBB /IND A3+ 75       Affirmed
Kayaar Exports Pvt Ltd          Long-TL                                 82.458   Withdrawn
                                                                                 (instrument
                                                                                 repaid in full)
Ramesh Chandra Rai              FB WC limit            IND B+           20       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Shashank Nidhi Construction Pvt FB WC limit            IND BB-          120      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Shashank Nidhi Construction Pvt TL                     IND BB-          8.5      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Siddhardha Constructions Pvt LtdFB WC limit            IND BBB          250      Upgraded
                                                                                 from IND BBB-  
Society For The Advancement Of  Bk loans               IND BBB          133.2    Migrated to
Environmental Sciences                                                           Non -
                                                                                 Cooperating
                                                                                 Category
Society For The Advancement Of  WC Fac                 IND BBB          80       Migrated to
Environmental Sciences                                                           Non -
                                                                                 Cooperating
                                                                                 Category
Tarun Enterprise                FB WC limits           IND BB /IND A4+  40       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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