February 20, 2018 / 4:00 AM / 4 months ago

India Ratings for Indian debt instruments – Feb 20

    Feb 20 (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 19, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------     ---------
SHORT TERM RATINGS:
-------------------
RS Development And              Non-FB WC limit        IND A3           400      Migrated to
Constructions India Pvt Ltd                                                      Non Cooperating
                                                                                 Category
issuer Not Cooperating

LONG TERM RATINGS:
-------------------
BSES Rajdhani Power Ltd         TL                     IND BBB-         6930     Upgraded from
                                                                                 IND BB
(reduced from INR11.3bln)
BSES Rajdhani Power Ltd         FB limits              IND BBB-/ IND A3 2970     Upgraded
BSES Rajdhani Power Ltd         Non-FB limits          IND BBB-/ IND A3 4120     Upgraded
BSES Rajdhani Power Ltd         Proposed unallocated   Prov IND BBB-/   2820     Upgraded
                                WC limits*             Prov IND A3
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by BRPL to the satisfaction of Ind-Ra. 
JSB Entrade Pvt Ltd             FB limits              IND B+           50       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
M/S Satkar Industries Pvt Ltd   FB limits              IND BB           95       Affirmed
M/S Satkar Industries Pvt Ltd   Long-TL                IND BB           1.3      Affirmed
(reduced from INR4.13mln)
Mita India Pvt Ltd              TL                     IND A-           182      Affirmed
 (reduced from INR220mln)
Mita India Pvt Ltd              Non-FB WC limit        IND A- /IND A1   85       Affirmed
Mita India Pvt Ltd              FB WC limit            IND A-/IND A1    250      Affirmed
(increased from INR225mln)
Ome Sree Sai Ganesh Poultries   Long-TL(LT)            IND D            46.5     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
Ome Sree Sai Ganesh Poultries   FB Fac(long--term)     IND D            15       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
RS Development And              TL                     IND BBB-         28.9     Migrated to
Constructions India Pvt Ltd                                                      Non Cooperating
                                                                                 Category
issuer Not Cooperating
RS Development And              FB    WC limit         IND BBB- /IND A3 250      Migrated to
Constructions India Pvt Ltd                                                      Non Cooperating
                                                                                 Category
issuer Not Cooperating
Samarth Fablon Pvt Ltd          FB limits              IND BBB          700      Affirmed
Satyamev Cot Fibers Pvt Ltd     FB WC  limits          IND BB           60       Affirmed
Satyamev Cot Fibers Pvt Ltd     Long-TL                IND BB           0.22     Affirmed
 (reduced from INR3.32mln)
Yes Bank Ltd                    Additional Tier-1      IND AA           111000   Affirmed
                                Basel III Bonds
Yes Bank Ltd                    Basel III Tier 2 Bonds IND AA+          40000    Affirmed
Yes Bank Ltd                    Basel III Tier 2 Bonds IND AA+          30000    Assigned
Yes Bank Ltd                    Infrastructure Bonds   IND AA+          35800    Affirmed
-----------------------------------------------------------------------------------------------
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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