February 11, 2020 / 9:33 AM / 8 days ago

India Ratings for Indian debt instruments – Feb 11

    Feb 11 - 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
February 10, 2020.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Cmc Textiles Pvt Ltd            Non-FB limits          IND A4+          18.9     Affirmed
Global Packaging                Non-FB limits          IND A4+          5.6      Affirmed
Mani More Synthetics Pvt Ltd    Non-FB limits          IND A4+          1        Affirmed
Ultratech Cement Ltd            Non-FB limits          IND A1+          46150    Affirmed
Ultratech Cement Ltd            CP                     IND A1+          35000    Affirmed
Ultratech Cement Ltd            Short-TL               IND A1+          15000    Affirmed
Wellknown Polyesters Ltd        CP                     IND A1+          1000     Upgraded
LONG TERM RATINGS:
-------------------
Classic Mall Development        Bk loan facility       IND BBB+/Stable  5113     Affirmed
Company Pvt. Ltd
Cmc Textiles Pvt Ltd            TL                     IND BB+/Stable   88.98    Affirmed
(increased from INR68.9 mlns)
Cmc Textiles Pvt Ltd            FB limits              IND              210      Affirmed
                                                       BB+/Stable/IND
                                                       A4+
Global Packaging                TL                     IND BB/Stable    12.4     Affirmed
(reduced from INR28.46 mlns)
Global Packaging                FB limits              IND              66       Affirmed
                                                       BB/Stable/IND A4+
Good Host Spaces Pvt Ltd        TL                     IND A/Stable     4900     Upgraded
(reduced from INR5,090 mlns)
Good Host Spaces Pvt Ltd        Proposed TL            WD               990
Withdrawn (the company did not proceed with the instrument as envisaged)
Mani More Synthetics Pvt Ltd    TL                     IND BB+/Stable   20.1     Affirmed
(increased from INR4.78 mlns)
Mani More Synthetics Pvt Ltd    FB limits              IND              60       Affirmed
                                                       BB+/Stable/IND
                                                       A4+
Mn Bio-Technology Pvt Ltd       NCDs                   WD               485      Withdrawn
Mn Takshila Industries Pvt Ltd  NCDs                   WD               1517     Withdrawn
Sethu Educational Trust’S Bank  TL                     WD               270.06   Withdrawn
Shriram Epc Ltd                 FB WC limits (long-/ST)IND D            4240     Affirmed
(Issuer Not Cooperating)
Shriram Epc Ltd                 Non-FB limits          IND D            6706     Affirmed
                                (long-/ST)
(Issuer Not Cooperating)
Shriram Epc Ltd                 TL (LT)                IND D            18231.7  Affirmed
(Issuer Not Cooperating)
Ultratech Cement Ltd            NCDs (NCDs)            IND AAA/Stable   5000     Affirmed
Ultratech Cement Ltd            FB limits              IND              13850    Affirmed
                                                       AAA/Stable/IND
                                                       A1+
-----------------------------------------------------------------------------------------------
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@refinitiv.com)
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