December 17, 2019 / 5:16 AM / a month ago

India Ratings for Indian debt instruments – Dec 17

    Dec 17 (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
December 16, 2019.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------    ---------
SHORT TERM RATINGS:
-------------------
Durga Shakti Foods Pvt Ltd      Non-FB Fac             IND A4+          5        Upgraded
Jatson Power Pvt Ltd            Non-FB WC limits       IND A4+          32.5
(Issuer Not Coopeprating); Migrated to non-cooperating category
Maya Construction Company Pvt   Non-FB WC limit        IND A4+          150
Ltd
(Issuer Not Coopeprating); Migrated to non-cooperating category
 
LONG TERM RATINGS:
-------------------
Cholamandalam Investment And    Perpetual debt (tier 1 IND AA/Stable    4500     Affirmed
Finance Co. Ltd                 instrument)
Cholamandalam Investment And    NCDs (NCDs)            IND AA+/Stable   35500    Affirmed
Finance Co. Ltd
(reduced from INR45 blns)
Cholamandalam Investment And    Lower tier 2           IND AA+/Stable   21640    Affirmed
Finance Co. Ltd                 subordinated debt
Durga Shakti Foods Pvt Ltd      Long-TL                -                1.1
Withdrawn (paid in full)
Durga Shakti Foods Pvt Ltd      FB Fac                 IND              119      Upgraded
                                                       BB/Stable/IND A4+
Gautam International            Bk loans               IND BBB-         74.04
Pratisthan’S
(Issuer Not Cooperating); Maintained in non-cooperating category
Gautam International            FB WC (overdraft)      IND BBB-         55.27
Pratisthan’S
(Issuer Not Cooperating); Maintained in non-cooperating category
Girraj Ji Stone Crushers Pvt LtdFB limits*             -                13.7     Affirmed &
                                                                                 Withdrawn
*Affirmed at ‘IND BB+(ISSUER NOT COOPERATING)/IND A4+ (ISSUER NOT COOPERATING)’ before being
withdrawn
Girraj Ji Stone Crushers Pvt LtdNon fund based**       -                58.7     Affirmed &
                                                                                 Withdrawn
** Affirmed at IND A4+(ISSUER NOT COOPERATING)’ before being withdrawn
Himachal Futuristic             6.5% cumulative        -                603.8    Withdrawn
Communications Ltd              redeemable PS
Jatson Power Pvt Ltd            TL                     IND BB-          0.09
(Issuer Not Coopeprating); Migrated to non-cooperating category
Jatson Power Pvt Ltd            FB WC limits           IND BB-          47.5
(Issuer Not Coopeprating); Migrated to non-cooperating category
Maya Construction Company Pvt   FB WC limit            IND BB- / IND A4+50
Ltd
(Issuer Not Coopeprating); Migrated to non-cooperating category
Om Esha Agro Products Pvt Ltd   FB WC limit            IND B+           125
(Issuer Not Coopeprating); Migrated to non-cooperating category
Om Esha Agro Products Pvt Ltd   TL                     IND B+           103.44
(Issuer Not Coopeprating); Migrated to non-cooperating category
Shree Tatyasaheb Kore Warana    TL                     IND B+/Stable    1041.9   Assigned
Sahakari Sakhar Karkhana Ltd
Shree Tatyasaheb Kore Warana    Fund based WC facility IND B+/Stable    5240     Assigned
Sahakari Sakhar Karkhana Ltd
Shree Tatyasaheb Kore Warana    Proposed TL*           Provisional IND  218.1    Assigned
Sahakari Sakhar Karkhana Ltd                           B+/Stable
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities to the satisfaction of Ind-Ra.
United Bank Of India            LT Issuer Rating       IND AA-          -
Rating Watch Evolving (RWE). 
-----------------------------------------------------------------------------------------------
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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