Dec 31 (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 28, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
Afcons Infrastructure Ltd CP* IND A1+ 9000 Affirmed
*To be utilised for working capital purposes
Laxmi Organic Industries Ltd Non-FB WC facility IND A1 1970 Assigned
Laxmi Organic Industries Ltd Proposed CP (CP)* IND A1 100 Assigned
* Yet to be issued. The CP will be carved out of the existing working capital facility.
Laxmi Organic Industries Ltd Proposed non-FB WC Provisional IND 150 Assigned
facility# A1
# The rating is provisional and shall be confirmed upon the sanction and execution of documents
for the above instrument by LOIL to the satisfaction of Ind-Ra.
LONG TERM RATINGS:
-------------------
Asian Hotels (West) Ltd TL IND BBB 2304 Assigned
Asian Hotels (West) Ltd FB WC limit IND BBB/ IND A3+ 270 Assigned
Knr Tirumala Infra Pvt Ltd TL IND A 5730 Assigned
Laxmi Organic Industries Ltd TL IND A+ 644.44 Assigned
Laxmi Organic Industries Ltd TL IND A+ USD7.0 Assigned
Laxmi Organic Industries Ltd FB WC facility IND A+/ IND A1 1850 Assigned
Mata Rani Trust TL (LT) IND D 291
(Issuer Not Cooperating); Maintained in non-cooperating category
Mathura Fibres & Cotton FB WC limit IND BB-/ IND A4+ 300
Industries
(Issuer Not Cooperating) Migrated to non-cooperating category
National Education Foundation TL IND BBB- 341.9
(Issuer Not Cooperating) Migrated to non-cooperating category
National Education Foundation Proposed TL Provisional IND 8.1
BBB-
(Issuer Not Cooperating) Migrated to non-cooperating category
Pes Engineers Pvt Ltd TL IND A- 97.6 Assigned
Pes Engineers Pvt Ltd TL IND A- 14.5 Affirmed
Pes Engineers Pvt Ltd FB WC limits IND A-/ IND A1 550 Affirmed
Pes Engineers Pvt Ltd Non-FB limits IND A-/ IND A1 4626.5 Affirmed
Pes Engineers Pvt Ltd Non-FB limits IND A-/ IND A1 150 Assigned
Pes Engineers Pvt Ltd Proposed FBL* Provisional IND 200 Assigned
A-/ Provisional
IND A1
* The above rating is provisional and shall be confirmed upon the sanction and execution of the
loan documents for the above facility by PES to the satisfaction of Ind-Ra.
Pes Engineers Pvt Ltd Proposed non- FBL* Provisional IND 1843.5 Assigned
A-/ Provisional
IND A1
* The above rating is provisional and shall be confirmed upon the sanction and execution of the
loan documents for the above facility by PES to the satisfaction of Ind-Ra.
Pes Engineers Pvt Ltd Non-FB limits WD 2780
Withdrawn (limits repaid in full)
Sanshu Agro Pvt Ltd FB WC limits IND B+/ IND A4 140
(Issuer Not Cooperating) ; Migrated to non-cooperating category
Universal Educational Society TL IND BB+ 335.53
(Issuer Not Cooperating) ; Migrated to non-cooperating category
Universal Educational Society Overdraft IND BB+ 35
(Issuer Not Cooperating) ; Migrated to non-cooperating category
Vishesh Diagnostics Pvt Ltd TL IND BBB- 1630 Assigned
Vishesh Diagnostics Pvt Ltd FB limit IND BBB- 120 Assigned
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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)
