December 26, 2018 / 4:47 AM / 5 months ago

India Ratings for Indian debt instruments – Dec 26

    Dec 26 (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 24, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Ceat Ltd                        CP                     IND A1+          3500     Assigned
Emirates Nbd Bank               CD (CD) programme*     IND A1+          3000     Assigned
* Yet to be issued
Jai India Weaving Mills Pvt Ltd Non-FB Fac             IND A4+          55.8
(Issuer Not Cooperating); Migrated to non-cooperating category

LONG TERM RATINGS:
-------------------
Friends Paper Mill’S            FB limits(LT)          IND D            100      Downgraded
Friends Paper Mill’S            TL (LT)                IND D            68.26    Downgraded
(reduced from INR89.195 mlns)
India Standard Loan Trust -Xl’S Series A pass-through  IND A (SO)       470.13   Affirmed
                                certificates (PTCs)
India Standard Loan Trust -Xl’S Liquidity facility (LF)IND AAA(SO)      15.7     Affirmed
India Standard Loan Trust -Xl’S Second loss credit     IND BBB(SO)      53.26    Affirmed
                                facility (SLCF)
Jai India Weaving Mills Pvt Ltd TL                     IND BB+          206.3
(Issuer Not Cooperating); Migrated to non-cooperating category
Jai India Weaving Mills Pvt Ltd FB Fac                 IND BB+ /IND A4+ 217.5
(Issuer Not Cooperating); Migrated to non-cooperating category
K. Palaniappa Memorial          Bk loans               IND BBB-         150
Educational Trust
(Issuer Not Cooperating); Migrated to non-cooperating category
Kalyani Technoforge Ltd         FB limits              IND A- /IND A2+  1000     Assigned
L&T Finance Ltd                 NCDs*                  IND AAA          50000    Assigned
* Yet to be issued
Mohini Health & Hygiene Ltd     FB limits              IND BBB/IND A3+  250      Assigned
Platinum Trust December 2017    Series A PTC           IND AAA (SO)     4774.4   Affirmed
Platinum Trust December 2017    Second loss credit     IND BBB(SO)      233.74   Affirmed
                                facility (SLCF)
Rathinam Arumugam Research And  Bk loans               IND BBB-         163
Educational 
(Issuer Not Cooperating); Migrated to non-cooperating category
Rathinam Arumugam Research And  FB WC limit            IND BBB-         20
Educational 
(Issuer Not Cooperating); Migrated to non-cooperating category
Shriram Transport Finance Co.   Subordinated debt      IND AA+          20000    Assigned
Ltd
Vectus Industries Ltd           FB WC limits           IND A /IND A1    180      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)
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