February 9, 2018 / 3:42 AM / in 6 months

India Ratings for Indian debt instruments – Feb 9

    Feb 9 (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 8, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Chanakya Technos Pvt Ltd        Non-FB limits          IND A4+          81.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dns Electronics Pvt Ltd         Non-FB WC limit        IND A4+          8        Upgraded
Dns Electronics Pvt Ltd         Proposed non-FB WC     Provisional IND  2        Upgraded
                                limit                  A4+
Kalindi Ispat Pvt Ltd.          Non-FB limits          IND A4+          10       Affirmed
Kannappan Iron And Steel        Non-FB WC limit        IND A4+          334      Migrated to
Company Pvt Ltd                                                                  Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Quality Tea Plantations Pvt Ltd Non-FB limit           IND A4+          7.5      Affirmed
Sir Biotech India Ltd           Non-FB facility        IND A4+          150      Affirmed

LONG TERM RATINGS:
-------------------
Chanakya Technos Pvt Ltd        FB limits              IND BB-          21.5     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dns Electronics Pvt Ltd         FB WC limit            IND BB-/IND A4+  152      Upgraded
Dns Electronics Pvt Ltd         Proposed FB WC limit   Provisional IND  78       Upgraded
                                                       BB-/Provisional
                                                       IND A4+
Il&Fs Transportation Networks   Long-TL                IND A/RWN        1.19     Placed on RWN
Ltd
reduced from 5.5 mln
Il&Fs Transportation Networks   NCDs (NCDs)            IND A/RWN        8        Placed on RWN
Ltd
reduced from 9.25 mln
Il&Fs Transportation Networks   CPs (CPs)*             IND A1/RWN       3.1      Placed on RWN
Ltd
* CPs are backed by a credit line of INR3.1 billion from an ‘IND AAA’ rated financial
institution which shall remain undrawn and be available for redeeming the outstanding CPs at all
point of time.
Il&Fs Transportation Networks   Proposed NCDs**        Provisional IND  7        Placed on RWN
Ltd                                                    A/RWN
** The rating is provisional and shall be confirmed upon the execution of the loan documents for
the above facility by ITNL to the satisfaction of Ind-Ra.; increased from 5.75 mln
Il&Fs Transportation Networks   Proposed TL**          Provisional IND  4.31     Assigned and
Ltd                                                    A/RWN                     placed on RWN
** The rating is provisional and shall be confirmed upon the execution of the loan documents for
the above facility by ITNL to the satisfaction of Ind-Ra.
Jagannath Rice Mill             FB WC limit            IND BB-          125.5    Assigned
Kalindi Ispat Pvt Ltd.          FB limits              IND BB           117.5    Upgraded
Kannappan Iron And Steel        FB WC limit            IND BB+/IND A4+  300      Migrated to
Company Pvt Ltd                                                                  Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
M R Diamond                     FB limits              IND BB/IND A4+   120      Assigned
Quality Tea Plantations Pvt Ltd FB WC limit            IND BB-          135      Affirmed
increased from 105.4 mln
Quality Tea Plantations Pvt Ltd TL                     IND BB-          25.2     Affirmed
reduced from 26.4 mln
Rajathadri Jewellers Pvt Ltd    FB WC limits           IND B/IND A4     180      Assigned
Sir Biotech India Ltd           TL-1                   IND BB+          15       Affirmed
reduced from 61.8 mln
Sir Biotech India Ltd           TL-2                   IND BB+          506.25   Affirmed
increased from 350.0 mln
Sir Biotech India Ltd           TL-3                   IND BB+          568.75   Affirmed
increased from 250.0 mln
Sir Biotech India Ltd           TL-4                   IND BB+          325      Affirmed
increased from 200.0 mln
Sir Biotech India Ltd           FB facility            WD               23
Withdrawn (paid 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below