February 23, 2018 / 7:53 AM / 8 months ago

India Ratings for Indian debt instruments – Feb 23

    Feb 23 (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 22, 2018.

COMPANY                         INSTRUMENT              RATING         AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------              ------         ------   ---------
SHORT TERM RATINGS:
-------------------
 Uniworth Enterprises Llp       Non-FB WC facility     IND A4+          70       Assigned
Dembla Timber Company Pvt Ltd   Non-FB limit           IND A4           216.1    Affirmed
Fomento Resources Pvt Ltd       Forward contract limitsIND A4+          100      Assigned
Pongalur Pioneer Textiles Pvt   Non-FB limits          IND A4+          215      Migrated to
Ltd                                                                              Non
                                                                                 Cooperating 
                                                                                 Category
Puneet Iron And Steel Pvt Ltd   Non-FB limits          IND A4+          70       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Safety Controls & Devices Pvt   Non-FB WC limit        IND A3           792.2    Affirmed
Ltd
Shri Ram Rubtech Pvt Ltd        Non-FB limits          IND A4+          20       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category

LONG TERM RATINGS:
-------------------
Uniworth Enterprises Llp       TL                     IND BB+          440       Assigned
Uniworth Enterprises Llp       FB WC facility         IND BB+/IND A4+  150       Assigned
Uniworth Enterprises Llp       Proposed FB WC         Provisional IND  90        Assigned
                               facility*              BB+/Provisional
                                                      IND A4+
*The ratings are provisional and shall be confirmed upon the sanction and execution of 
loan documents for the above facility by Uniworth to the satisfaction of Ind-Ra.
Dembla Timber Company Pvt Ltd   FB WC limit            IND B+/IND A4    30       Affirmed
Fomento Resources Pvt Ltd       TL                     IND BB           3000     Assigned
Fomento Resources Pvt Ltd       FB WC limits           IND BB           1100     Assigned
Petron Engineering Construction TL (LT)                IND D            121.6    Downgraded
Ltd                                                                              from IND BB-
Petron Engineering Construction FB limits (LT)         IND D            845      Downgraded
Ltd                                                                              from IND BB-
Petron Engineering Construction Non-FB limits (ST)     IND D            4120     Downgraded
Ltd                                                                              from IND BB-
Petron Engineering Construction Proposed TL (LT)       Provisional IND D 200     Downgraded
Ltd                                                                              from IND BB-
Petron Engineering Construction Proposed FB limits (LT)Provisional IND D 350     Downgraded
Ltd                                                                              from IND BB-
Petron Engineering Construction Proposed non-FB limits Provisional IND D 650     Downgraded
Ltd                             (ST)                                             from IND BB-
Platinum Trust February 2018 –  Pass-through           Provisional IND  3155.91  Assigned
Tranche II                      certificates (PTCs) -  AAA(SO)
                                Series A
Platinum Trust February 2018 –  Second loss credit     Provisional IND  176.73   Assigned
Tranche II                      facility (SLCF)        BBB(SO)
Pongalur Pioneer Textiles Pvt   FB limits              IND BB+          57.5     Migrated to
Ltd                                                                              Non
                                                                                 Cooperating 
                                                                                 Category
Pongalur Pioneer Textiles Pvt   TL                     IND BB+          184.85   Migrated to
Ltd                                                                              Non
                                                                                 Cooperating 
                                                                                 Category
Puneet Iron And Steel Pvt Ltd   FB limits              IND BB /IND A4+  150      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Reliance Cement Company Pvt Ltd TL                     IND AA-          830      Assigned
Rk Poultries Pvt Ltd            FB Fac                 IND BB/IND A4+   60       Assigned
Safety Controls & Devices Pvt   FB WC limit            IND BBB-/IND A3  55       Affirmed
Ltd
Sagar Metallics Pvt Ltd         TL                     IND BB-          23.9     Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Sagar Metallics Pvt Ltd         FB WC limits           IND BB- / IND A4+110      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Shri Ram Rubtech Pvt Ltd        FB limits              IND B+           30       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Shri Ram Rubtech Pvt Ltd        TL                     IND B+           0.41     Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Zuari Cement Ltd                FB WC Fac               -               1500     Withdrawn
Zuari Cement Ltd                Non-FB WC Fac           -               500      Withdrawn
Zuari Cement Ltd                TL                      -               4936.1   Withdrawn
-----------------------------------------------------------------------------------------------
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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