February 14, 2019 / 7:31 AM / 7 days ago

India Ratings for Indian debt instruments – Feb 14

    Feb 14 (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
February 13, 2019.

COMPANY                         INSTRUMENT             RATING        AMOUNT      MOVEMENT
                                                                   (RS.MLN)
------                          ----------             ------       ------       ---------
SHORT TERM RATINGS:
-------------------
Asandas & Sons                  Non-FB limits          IND A4+          25       Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Chetan Overseas (Delhi) Pvt Ltd Non-FB limits*         IND A4+          120      Affirmed
*One way interchangeability of the non-fund based limits (up to INR60 million) to fund-based
limits.
Neokraft Global Pvt Ltd         Non-FB limits          IND A3+          125      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Neolite Zkw Lightings Pvt Ltd   Non-FB WC limits       IND A3+          97.5     Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
                                                                                 cooperating 
                                                                                 category
Niki Resorts Pvt Ltd            Non-FB limit           IND A4+          1.5      Assigned
Radha Krishna Impex Pvt Ltd     Non-FB WC limit        IND A3           30       Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Scc Projects Pvt Ltd            Non FB limits          IND A4           80       Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Shree Tnb Polymers Ltd          Non-FB limits          IND A4+          14       Assigned


LONG TERM RATINGS:
-------------------
Adani Green Energy (Up) Ltd     Non-FB facility        IND A(SO)        600      Affirmed
Adani Green Energy (Up) Ltd     TL                     IND BBB          10740    Affirmed
Adani Green Energy (Up) Ltd     WC loan                IND BBB          850      Affirmed
Adani Green Energy (Up) Ltd     Loan equivalent risk   IND BBB          1100     Affirmed
Asandas & Sons                  Long-TL                IND BB           285.62   Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Asandas & Sons                  FB limits              IND BB/IND A4+   145      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Asandas & Sons                  Proposed FB limits     Provisional IND  130      Migrated to
                                                       BB/Provisional            non
                                                       IND A4+                   cooperating 
                                                                                 category
Chetan Overseas (Delhi) Pvt Ltd FB limits              IND BB/IND A4+   200      Affirmed
Dex Agro Sweeteners Pvt Ltd     TL                     IND BB           17.63    Upgraded
Dex Agro Sweeteners Pvt Ltd     FB limits              IND BB/IND A4+   10.1     Long-term
                                                                                 rating
                                                                                 upgraded; 
                                                                                 ST rating 
                                                                                 affirmed
Edac Engineering Ltd            FB limit               IND BBB-/IND A3  5        Affirmed
Edac Engineering Ltd            Non-FBL                IND BBB-/IND A3  658      Affirmed
Edac Engineering Ltd            Proposed FB limit*     Provisional IND  80       Affirmed
                                                       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 EDAC to the satisfaction of Ind-Ra.
Edac Engineering Ltd            Proposed non-FBL*      Provisional IND  507      Affirmed
                                                       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 EDAC to the satisfaction of Ind-Ra.
Gainwell Commosales Pvt Ltd     TL                     IND A-           1531.8   Assigned
Gainwell Commosales Pvt Ltd     FB WC limits           IND A-/IND A1    4100     Assigned
Gainwell Commosales Pvt Ltd     Non-FB WC limits       IND A-/IND A1    5400     Assigned
M/S Avigna Properties Pvt Ltd   TL                     IND BB+          700      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Neokraft Global Pvt Ltd         TL                     IND BBB          97.9     Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Neokraft Global Pvt Ltd         FB limits              IND BBB/IND A3+  175      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Neolite Zkw Lightings Pvt Ltd   TL                     IND BBB          185.9    Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Neolite Zkw Lightings Pvt Ltd   FB WC limits           IND BBB/IND A3+  320      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Niki Resorts Pvt Ltd            TL                     IND BB           214.15   Assigned
Octal Sales Pvt Ltd             FB limits              IND B-           70       Downgraded and
                                                                                 reassigned
Platinum Trust February 2018    Series A pass-through  IND AAA(SO)      2668.99  Affirmed
Tranche Ii                      certificates (PTCs)
Platinum Trust February 2018    Second loss credit     IND BBB(SO)      246.16   Affirmed
Tranche Ii                      facility 
Radha Krishna Impex Pvt Ltd     FB WC limit            IND BBB-         105      Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Sadbhav Jodhpur Ring Road Pvt   Senior project TL      IND A-           5308.8   Assigned
Ltd
Scc Projects Pvt Ltd            FB WC limits           IND B-           90       Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Scc Projects Pvt Ltd            TL                     IND B-           1.13     Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Shree Tnb Polymers Ltd          TL                     IND BB-          16       Assigned
Shree Tnb Polymers Ltd          FB limits              IND BB-/IND A4+  220      Assigned
Unique Food                     FB WC limits           IND BBB-         117.5    Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Unique Food                     TL                     IND BBB-         25.3     Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Vanilla Clean Power Pvt Ltd     TL                     IND BB/RWN       2300     Downgraded;
                                                                                 Maintained on
                                                                                 RWN
Vanilla Clean Power Pvt Ltd     Overdraft              IND BB/RWN       210      Downgraded;
                                                                                 Maintained on
                                                                                 RWN
Yashwant Dugdh Prakriya Ltd     Long-TL                IND BB-          8.93     Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Yashwant Dugdh Prakriya Ltd     FBL                    IND BB-/IND A4+  90       Migrated to
                                                                                 non
                                                                                 cooperating 
                                                                                 category.
-----------------------------------------------------------------------------------------------
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