February 14, 2018 / 7:48 AM / in 9 months

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, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
------                          ----------             ------         ------     ---------
Amiya Steel Pvt Ltd             Non-FB limits          IND A4           40       Migrated to
Amiya Steel Pvt Ltd             Proposed non FB limits Provisional IND  30       Migrated to
                                                       A4                        Non
Man Tubinox Ltd                 Non-FB Fac             IND A4           230      Upgraded from
                                                                                 IND D
Overseas Timber Corporation     Non-FB limit           IND A4           3        upgraded from
                                                                                 IND B-
Prathima Infrastructure Ltd     Non-FB Fac             IND A3           960      Assigned

Amiya Steel Pvt Ltd             FB limits              IND B-           177      Migrated to
Amiya Steel Pvt Ltd             Proposed FB limits     Provisional IND  23       Migrated to
                                                       B-                        Non
Man Tubinox Ltd                 FB WC                  IND B+           95       Upgraded from
                                                                                 IND D
Man Tubinox Ltd                 TL*                    IND B+           1070     Upgraded from
                                                                                 IND D
*Not disbursed
Overseas Timber Corporation     FB WC limit            IND B            20       Upgraded from
                                                                                 IND B-
Prathima Infrastructure Ltd     Long-TL                IND BBB-         140      Assigned
Prathima Infrastructure Ltd     FB Fac                 IND BBB-/IND A3  300      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 The withdrawn criteria are now available on India Ratings' website at

$: 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

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
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