December 1, 2017 / 6:34 AM / 2 months ago

India Ratings for Indian debt instruments – Dec 1

    Dec 1 (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
November 30, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Arbee Aquatic Proteins Pvt Ltd  Non- fund- based Fac   IND A4+          27.2     Assigned
Ncc Infraspace Pvt Ltd          Non- fund- based WC    IND A3           320      Assigned
                                limits
Sree Jayajothi Cements Pvt Ltd  Non- fund- based limitsIND A1           375.2    Upgraded
Sree Jayajothi Cements Pvt Ltd’ Non- fund- based limitsIND A1+(SO)      540      Assigned
Srinivas Infrastructure Pvt Ltd Non- fund- based Fac   IND A3           70       Upgraded
Srinivas Infrastructure Pvt Ltd Proposed non- fund-    Provisional IND  40       Upgraded
                                based Fac*             A3
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by SIPL to the satisfaction of Ind-Ra.
Sterlite Power Transmission Ltd Non- fund- based limitsIND A2+          23.37    Affirmed

LONG TERM RATINGS:
-------------------
Arbee Aquatic Proteins Pvt Ltd  Long- TL               IND BB           82.87    Upgraded from
                                                                                 IND BB-
Arbee Aquatic Proteins Pvt Ltd  Fund- based Fac        IND BB/ IND A4+  80       Upgraded
Bright Star Global Trading      Fund- based WC Fac     IND B-/ IND A4   80       Migrated to
Corporation’S                                                                    Non-
                                                                                 Cooperating
Corporation’S                                                                    Category
(ISSUER NOT COOPERATING)
Escorts Ltd                     TL                     IND A+           1763     Upgraded from
                                                                                 IND A
Escorts Ltd                     Fund- based WC limits  IND A+/ IND A1+  4340     Upgraded
Escorts Ltd                     Non- fund- based WC    IND A+/ IND A1+  3980     Upgraded
                                limits
Jai Hind Sugar Pvt Ltd          Long- TL               IND BB+          410      Assigned
Jyotirmaye Textiles Pvt Ltd     TL                     IND BBB-         711.5    Assigned
Jyotirmaye Textiles Pvt Ltd     Fund- based WC limits  IND BBB-/ IND A3 400      Assigned
Mathura Fibres & Cotton         Fund- based WC limits  IND BB-/ IND A4+ 3000     Affirmed
Industries
Ncc Infraspace Pvt Ltd          Fund- based WC limits  IND BBB-/ IND A3 100      Assigned
Ozone Infra Projects            Fund- based WC Fac     IND BB-/ IND A4+ 75       Migrated to
Corporation’S                                                                    Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sree Jayajothi Cements Pvt Ltd  Fund- based WC limits  IND A            373.5    Upgraded from
                                                                                 IND BBB
Sree Jayajothi Cements Pvt Ltd  TL                     IND A            174.1    Upgraded from
                                                                                 IND BBB
Sree Jayajothi Cements Pvt Ltd  Proposed fund- based   Provisional IND  577.4    Assigned
                                Fac*                   A/ Provisional
                                                       IND A1
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by SJCL to the satisfaction of Ind-Ra.
Sree Jayajothi Cements Pvt Ltd’ Fund- based WC limits  --               373.3    Withdrawn
Sree Jayajothi Cements Pvt Ltd’ Non- fund- based limits--               375.2    Withdrawn
Sree Jayajothi Cements Pvt Ltd’ TL                     --               174.1    Withdrawn
Sree Jayajothi Cements Pvt Ltd’ Proposed fund- based   --               577.4    Withdrawn
                                Fac
Sree Jayajothi Cements Pvt Ltd’ Fund- based WC limits  IND AA+(SO)/ IND 233.5    Assigned
                                                       A1+(SO)
Srinivas Infrastructure Pvt Ltd Fund- based Fac        IND BBB-         50       Upgraded from
                                                                                 IND BB+
Srinivas Infrastructure Pvt Ltd Proposed fund- based   Provisional IND  40       Upgraded
                                Fac*                   BBB-
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by SIPL to the satisfaction of Ind-Ra.
Sterlite Power Transmission Ltd TL                     IND A-           5.53     Affirmed
Sterlite Power Transmission Ltd Fund- based limits     IND A-           5.5      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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