February 16, 2018 / 4:57 AM / 4 months ago

India Ratings for Indian debt instruments – Feb 16

    Feb 16 (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 15, 2018.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Dtc Projects Pvt Ltd            Non-FB WC limits*      IND A4+          20       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING),*a bank guarantee limit, which is a sublimit of the term loan.
Geelon Industries Pvt Ltd       NFBL                   IND A3           7.5      Affirmed
Lahoty Brothers Pvt Ltd         NFBL                   IND A4+          110      Affirmed
Landmark Royal Engineering (I)  NFBL                   IND A4+          32.5     Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Radha Krishna Impex Pvt Ltd     NFB WCL                IND A3           30       Affirmed
Ritesh Tradefin Ltd             FB limits (overdraft   IND A4+          55       Migrated to
                                against book debtFac)                            Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Ritesh Tradefin Ltd             Non-FB limits          IND A4+          1        Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Ckp Products Ltd                FB WC limit            IND BBB- / IND A345       Assigned
Ckp Products Ltd                Proposed FB WC limit*  IND BBB- / IND A3105      Assigned
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by CKP to the satisfaction of Ind-Ra.
Dtc Projects Pvt Ltd            TL                     IND BB           330      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Firestar Diamond Bvba           FB WC Fac              IND A-(SO) / RWN -        Placed on RWN
                                                       / IND A2+ (SO) /
                                                       RWN
Firestar Diamond Bvba           Proposed WC Fac*       Provisional IND  -        Placed on RWN
                                                       A-(SO) / RWN /
                                                       Provisional 
                                                       IND A2+(SO) / RWN
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by FDBVBA’s parent, Firestar International Private Limited
(FIPL; ‘IND A-’/RWN), to the satisfaction of Ind-Ra.
Firestar Diamond Fze            FB WC Fac              IND A-(SO) / RWN -        Placed on RWN
                                                       / IND A2+(SO) /
                                                       RWN
Firestar Diamond Fze            Proposed WC Fac*       Provisional IND  -        Placed on RWN
                                                       A-(SO) / RWN /
                                                       Provisional IND A2+(SO) / RWN
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by FDBVBA’s parent, Firestar International Private Limited
(FIPL; ‘IND A-’/RWN), to the satisfaction of Ind-Ra.
Firestar Diamond International  FB WC Fac              IND A-(SO) / RWN 3824     Placed on RWN
Pvt Ltd                                                / IND A2+(SO) /
                                                       RWN
Firestar Diamond International  Non-FB WC Fac          IND A2+(SO)/RWN  1059     Placed on RWN
Pvt Ltd
Firestar Diamond International  Proposed WC Fac*       Provisional IND  3367     Placed on RWN
Pvt Ltd                                                A-(SO) / RWN /
                                                       Provisional 
                                                       IND A2+(SO) / RWN
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by FIPL to the satisfaction of Ind-Ra.
Firestar Diamond Ltd            FB WC Fac              IND A-(SO) / RWN -        Placed on RWN
                                                       / IND A2+(SO) /
                                                       RWN
Geelon Industries Pvt Ltd       FBL                    IND BBB-         160      Affirmed
Irestar International Pvt Ltd   FB WC Fac              IND A-/ RWN /IND 17132    Placed on RWN
                                                       A2+ / RWN
Irestar International Pvt Ltd   Non-FB WC Fac          IND A2+/RWN      2272     Placed on RWN
Irestar International Pvt Ltd   Proposed WC Fac*       Provisional IND  5197     Placed on RWN
                                                       A- / RWN /
                                                       Provisional 
                                                       IND A2+ / RWN
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by FIPL to the satisfaction of Ind-Ra.
Lahoty Brothers Pvt Ltd         FBL                    IND BB+          75       Affirmed
Landmark Royal Engineering (I)  FBL                    IND BB           2.5      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Radha Krishna Impex Pvt Ltd     FB WCL                 IND BBB-         105      Affirmed
Ritesh Tradefin Ltd             FB limits (CC Fac)     IND BB           75       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Rohit Enterprises               FB WC limit            IND BB-          250      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
 (ISSUER NOT COOPERATING)
Unique Foods                    FB WC limit            IND BBB-         117.5    Affirmed
Unique Foods                    TL                     IND BBB-         25.3     Affirmed
(reduced from INR51.1)
Unique Foods                    NFBL                   WD               20       Withdrawn
                                                                                 (repaid in
                                                                                 full)
-----------------------------------------------------------------------------------------------
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)
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