January 11, 2019 / 5:00 AM / 4 months ago

India Ratings for Indian debt instruments – Jan 11

    Jan 11 (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
January 10, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Uttam Industrial Engineering    Non-FB limits          IND A4           328.7    Affirmed
Pvt Ltd

LONG TERM RATINGS:
-------------------
Grand Prix Engineering Pvt Ltd  FB WC Fac              IND BB+ / IND A4+100      -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Grand Prix Engineering Pvt Ltd  Non-FB WC Fac          IND BB+ / IND A4+215      -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Janani Foodtek (I) Pvt Ltd      TL                     IND BB-          85       Assigned
Janani Foodtek (I) Pvt Ltd      FB limits              IND BB-          60       Assigned
M V Omni Projects (I) Ltd       FB WC limits (LT)      IND D            1200     Downgraded
M V Omni Projects (I) Ltd       Non-FB WC limits (ST)  IND D            1900     Downgraded
M V Omni Projects (I) Ltd       Forward contract       IND D            10       Downgraded
                                limits (ST)
M V Omni Projects (I) Ltd       Proposed corporate     Provisional IND D120      Downgraded
                                loan* (LT)
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MEIL to the satisfaction of Ind-Ra.
Megha Engineering &             FB WC limits           IND AA- / IND A1+3150     Long-term
Infrastructures Ltd                                                              rating
                                                                                 upgraded;
Short-term rating affirmed
Megha Engineering &             Non-FB WC limits       IND AA-/ IND A1+ 84100    Long-term
Infrastructures Ltd                                                              rating
                                                                                 upgraded;
Short-term rating affirmed
Megha Engineering &             Proposed FB WC limits* Provisional IND  1850     Long-term
Infrastructures Ltd                                    AA-/Provisional           rating
                                                       IND A1+                   upgraded;
Short-term rating affirmed
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MEIL to the satisfaction of Ind-Ra.
Megha Engineering &             Proposed non-FB WC     Provisional IND  8400     Long-term
Infrastructures Ltd             limits*                AA-/Provisional           rating
                                                       IND A1+                   upgraded;
Short-term rating affirmed
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MEIL to the satisfaction of Ind-Ra.
Uttam Industrial Engineering    Long-TL                IND B+           11.3     Upgraded
Pvt Ltd
Uttam Industrial Engineering    FB limits              IND B+           5        Upgraded
Pvt Ltd
-----------------------------------------------------------------------------------------------
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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