February 7, 2018 / 7:33 AM / 2 months ago

India Ratings for Indian debt instruments – Feb 7

    Feb 7 (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 6, 2018.
 
COMPANY                         INSTRUMENT              RATING         AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------              ------         ------   ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Retail Ltd         Non-FB WC limits       IND A1           658.3    Affirmed
(reduced from INR820mln)
Classic Knits India Pvt Ltd     Non-FB WC (ST)         IND D            20       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Pollutech Engineering           Non-FB WC limit        IND A3           30       Assigned
Precision Infomatic (M) Pvt Ltd Non-FB WC limit        IND A4+          20       Assigned
Srithik Ispat (P) Ltd           Non-FB limits (ST)     IND D            3        Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
 
LONG TERM RATINGS:
-------------------
Adani Green Energy (Up) Ltd     TL                     IND BBB          10740    Assigned
Adani Green Energy (Up) Ltd     WC loan                IND BBB          850      Assigned
Adani Green Energy (Up) Ltd     Loan Equivalent Risk   IND BBB          240      Assigned
Aditya Birla Retail Ltd         TL                     IND A+           18476.7  Affirmed
(reduced from INR21,666.3mln)
Aditya Birla Retail Ltd         NCD (NCDs)             IND A+           10000    Affirmed
(reduced from INR14,500mln)
Aditya Birla Retail Ltd         FB WC limits           IND A+ /IND A1   18216.2  Affirmed
 (increased from INR14,865mln)
Aditya Birla Retail Ltd         WC limits#             IND A+ /IND A1   2648.8   Assigned
#The final ratings have been assigned following the receipt of sanction letters for the
facilities.
Bangalore Metro Rail            Bonds                  IND AA           3000     Affirmed
Corporation Ltd
Bangalore Metro Rail            Proposed bonds         Provisional IND  5000     Affirmed
Corporation Ltd                                        AA
Bangalore Metro Rail            CP (CP)*               WD               1500     Withdrawn
Corporation Ltd
* BMRCL did not issue CP during October 2016-December 2017 and does not intend to issue CP in
the future.
Classic Knits India Pvt Ltd     TL (LT)                IND D            366.25   Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Classic Knits India Pvt Ltd     FB WC (LT)             IND D            741      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Novel Sugar Ltd                 FB WC limit            IND BB+ /IND A4+ 170      Upgraded from
                                                                                 IND BB/Affirmed
(increased from INR47.5mln)
People Combine Avenues Ltd      Bk loans               IND A            1500     Affirmed
People Combine Avenues Ltd      FB WC                  IND A            300      Affirmed
Pollutech Engineering           FB WC limit            IND BBB-         180      Assigned
Pollutech Engineering           TL                     IND BBB-         66.11    Assigned
Precision Infomatic (M) Pvt Ltd FB WC limit            IND BB+/ IND A4+ 140      Assigned
Radha Steel’S                   FB WC limits           IND BB-/ IND A4+ 240      Affirmed
Sagarshree Hospital And         TL                     IND B+           140      Migrated to
Research Institute Pvt Ltd                                                       Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sonali Autos Pvt Ltd            FB WC limit            IND B+           430      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sonali Autos Pvt Ltd            TL                     IND B+           18.3     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sree Gurudeva Charitable And    Bk loans               IND BB-          161.24   Migrated to
Educational Trust                                                                Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sree Gurudeva Charitable And    FB WC Fac              IND BB-          70       Migrated to
Educational Trust                                                                Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Srithik Ispat (P) Ltd           FB limits (LT)         IND D            180      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
Srithik Ispat (P) Ltd           LT loans (LT)          IND D            41.38    Migrated to
                                                                                 Non Cooperating
                                                                                 Category
issuer Not Cooperating
Suryoday One Energy Pvt Ltd     Rupee TL*              Provisional IND  2121     Assigned
                                                       BBB+
*Including letter of credit and letter of undertaking sub-limits
-----------------------------------------------------------------------------------------------
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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