December 21, 2017 / 8:26 AM / 6 months ago

India Ratings for Indian debt instruments – Dec 21

   Dec 21 (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 20, 2017.

COMPANY                         INSTRUMENT             RATING         AMOUNT     MOVEMENT
                                                                     (RS.MLN)
------                          ----------             ------         ------     ---------
SHORT TERM RATINGS:
-------------------
JSR Infra Developers Pvt Ltd    Non-FB limits          IND A4+          430      Downgraded
JSR Infra Developers Pvt Ltd    Proposed non-FB limits*Provisional IND  970      Downgraded
                                                       A4+
* The ratings are provisional and shall be confirmed upon the sanction and 
 execution of the loan documents for the above 
 facility by JSR to the satisfaction of Ind-Ra. 
Metal Care Alloys Pvt Ltd       Proposed  Non-FB Fac*  Provisional IND  100      Assigned
                                                       A4+
* The ratings are provisional and shall be confirmed upon the sanction and 
 execution of the loan documents for the above 
 facility by JSR to the satisfaction of Ind-Ra. 
Rural Electrification           ST debt/CP programme                    70000    Withdrawn;
Corporation Ltd                 (including BG)  (FY17)                           Paid in full
Rural Electrification           ST  borrowing          IND A1+          50000    Affirmed
Corporation Ltd                 programme (including
                                CP (CP) and BG) (FY18)
Sivanthi Joe Coirs              Non-FB WC limits       IND A4+          2.5      Assigned
Sree Lalitha Parameswari        Non-FB WC limit        IND A3           36.8     Affirmed
Spinning Mills Pvt Ltd
Sree Lalitha Parameswari        Proposed non-FB WC     Provisional IND  23.2     Affirmed
Spinning Mills Pvt Ltd          limit*                 A3
*The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan documents for the above facilities by SLP to the satisfaction of Ind-Ra.

LONG TERM RATINGS:
-------------------
Deep Weldmesh Pvt Ltd           FB limits (long- and   IND D            100      Downgraded and
                                ST)                                              Migrated to
                                                                                 Non-Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Gargs Weldmesh Pvt Ltd          FB limits (LT/ST)      IND D            100      Downgraded and
                                                                                 Migrated to
                                                                                 Non-Cooperating
                                                                                 Category
Jsr Infra Developers Pvt Ltd    FB limits              IND BB+          116.2    Downgraded
Jsr Infra Developers Pvt Ltd    Proposed FB limits*    Provisional IND  283.8    Downgraded
                                                       BB+
* The ratings are provisional and shall be confirmed upon the sanction and
 execution of the loan documents for the above facility by 
 JSR to the satisfaction of Ind-Ra.
Mata Rani Trust                 TL (LT)                IND D            291      Migrated to
                                                                                 Non
                                                                                 Non-Cooperating
                                                                                 Category
Metal Care Alloys Pvt Ltd       FB Fac                 IND BB+ / IND A4+100      Assigned
Metal Care Alloys Pvt Ltd       Proposed FB Fac*       Provisional IND  100      Assigned
                                                       BB+ /
                                                       Provisional IND A4+
* The ratings are provisional and shall be confirmed upon the sanction and 
execution of loan documents for the above facilities by MCAPL to the satisfaction of Ind-Ra.
Rural Electrification           LT annual borrowing    IND AAA          500000   Affirmed
Corporation Ltd                 programme
(FY18)
Rural Electrification           Other LT annual        IND AAA          1336790  Affirmed
Corporation Ltd                 borrowing programme
                                (FY07-FY17)
Sivanthi Joe Coirs              Long-TL                IND BB           25.2     Assigned
Sivanthi Joe Coirs              FB WC limits           IND BB /IND A4+  60       Assigned
Sree Lalitha Parameswari        TL                     IND BBB-         481      Affirmed
Spinning Mills Pvt Ltd
Sree Lalitha Parameswari        FB WC limit            IND BBB- /IND A3 234.5    Affirmed
Spinning Mills Pvt Ltd
Sree Lalitha Parameswari        Proposed FB WC limit*  Provisional IND  110.5    Affirmed
Spinning Mills Pvt Ltd                                 BBB-
                                                       /Provisional IND A3
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of loan documents for the above facilities by MCAPL to the satisfaction of Ind-Ra.
-----------------------------------------------------------------------------------------------
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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below