December 20, 2018 / 7:55 AM / a month ago

India Ratings for Indian debt instruments – Dec 20

    Dec 20 (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 19, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------          ------    ---------
SHORT TERM RATINGS:
-------------------
Columbia Petro Chem Pvt Ltd     Non-FB limits          IND A2+          5580     Affirmed
(increased from INR4,450 mlns)
Jayakrishna Flour Mills Pvt Ltd Non-FB Fac             IND A2+          10
Migrated to Non-Cooperating Category; (Issuer Not Cooperating)
Kumar Spintex Pvt Ltd           Non-FB Fac             IND A4+          28       Assigned
Srujana Enterprises (Se)        NFB WC Fac             IND A4+          25       Assigned
Venus Denim                     Non-FB Fac             IND A3           40       Assigned
Vishal Spintex                  Non-FB Fac             IND A4+          36.7     Assigned

LONG TERM RATINGS:
-------------------
Apollo Hospital Educational &   Bk loans               IND BBB          4376.1   Affirmed
Research Foundation
Apollo Hospital Educational &   FB WC                  IND BBB          150      Affirmed
Research Foundation
Apollo Hospital Educational &   Non-FB WC (BG)         IND BBB          240      Affirmed
Research Foundation
Bangalore International Airport LT senior rupee TL     IND AA+          13063    Affirmed
Ltd                             (Tranche 1)
Bangalore International Airport LT senior rupee TL     IND AA+          5074     Affirmed
Ltd                             (Tranche II)
Bangalore International Airport WC limits              IND AA+          500      Affirmed
Ltd
Bses Yamuna Power Ltd           TL                     IND BBB-         10000    Assigned
Bses Yamuna Power Ltd           FB limits              IND BBB- /IND A3 1210     Upgraded
(reduced from INR2blns)
Bses Yamuna Power Ltd           Non-FB limits          IND BBB- /IND A3 830      Upgraded
(reduced from INR2.9 blns)
Bses Yamuna Power Ltd           Proposed unallocated   Provisional IND  2860     Assigned
                                WC limits*             BBB-
                                                       /Provisional IND A3
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by BYPL to the satisfaction of Ind-Ra. 
Bses Yamuna Power Ltd           TL                     WD               5800     Withdrawn
                                                                                 (repaid in
                                                                                 full)
Columbia Petro Chem Pvt Ltd     FB limits              IND A-/IND A2+   330      Affirmed
 (increased from INR300 mlns)
Columbia Petro Chem Pvt Ltd     Proposed LT Bk         Provisional IND  340      Assigned
                                facility*              A-
* The ratings are provisional and shall be confirmed upon the sanction and execution of
documents for the above facilities by CPCPL to the satisfaction of Ind-Ra.
Columbia Petro Chem Pvt Ltd     Proposed ST Bk         Provisional IND  500      Assigned
                                facility*              A- /Provisional
                                                       IND A2+
* The ratings are provisional and shall be confirmed upon the sanction and execution of
documents for the above facilities by CPCPL to the satisfaction of Ind-Ra.
Iiert December 2017             Series A pass-through  IND AA(SO)       1427.6   Affirmed
                                certificates (PTCs)
India Standard Loan Trust       Series A pass-through  IND AA(SO)       386.23   Affirmed
-XXXIX                          certificates (PTCs)
India Standard Loan Trust       Liquidity facility (LF)IND AAA(SO)      9.95     Affirmed
-XXXIX  
India Standard Loan Trust       Second loss credit     IND BBB(SO)      48.75    Affirmed
-XXXIX                          facility (SLCF)
Jayakrishna Flour Mills Pvt Ltd TL                     IND BBB+         6.3
Migrated to Non-Cooperating Category; (Issuer Not Cooperating)
Jayakrishna Flour Mills Pvt Ltd FB Fac                 IND BBB+  /IND   300
                                                       A2+
Migrated to Non-Cooperating Category; (Issuer Not Cooperating)
Kumar Spintex Pvt Ltd           Long-TL                IND BB-          188      Assigned
Kumar Spintex Pvt Ltd           FB Fac                 IND BB- /IND A4+ 140      Assigned
Nikki Steels Pvt Ltd            FB Fac                 IND B+ /IND A4   100
Migrated to Non-Cooperating Category; (Issuer Not Cooperating)
Northern Arc 2018               Series A pass-through  IND A(SO)        819.99   Assigned
                                certificates (PTCs)
Sansar Trust Dec 2017           Second loss credit     IND A-(SO)       223.84   Affirmed
                                facility SLCF
Sansar Trust Dec 2017           Series A pass-through  IND AAA(SO)      2905.2   Affirmed
                                certificates (PTCs)
Sansar Trust December 2016 III  Second loss credit     IND A-(SO)       218.6    Affirmed
                                facility SLCF
Sansar Trust December 2016 III  Series A pass-through  IND AAA(SO)      1180.4   Affirmed
                                certificates (PTCs)
Sansar Trust December 2016 IV   Second loss credit     IND A-(SO)       212.5    Affirmed
                                facility SLCF
Sansar Trust December 2016 IV   Series A pass-through  IND AA+(SO)      476.5    Affirmed
                                certificates (PTCs)
Sansar Trust December 2017 VI   Second loss credit     IND A-(SO)       78.78    Affirmed
                                facility SLCF
Sansar Trust December 2017 VI   Series A pass-through  IND AA+(SO)      1074.1   Affirmed
                                certificates (PTCs)
Srujana Enterprises (Se)        FB WC Fac              IND BB- /IND A4+ 30       Assigned
Suchi Fasteners Pvt Ltd         FB limits (LT/ST)      IND D            67.5     Downgraded
Suchi Fasteners Pvt Ltd         WC demand loan (LT)    IND D            1.027    Downgraded
Suchi Fasteners Pvt Ltd         Non-FB limits (ST)     IND D            86.5     Downgraded
Venus Denim                     Long-TL                IND BBB-         168.4    Assigned
Vishal Spintex                  Long-TL                IND BB           468.8    Assigned
Vishal Spintex                  FB Fac                 IND BB /IND A4+  160      Assigned
-----------------------------------------------------------------------------------------------
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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