January 11, 2018 / 8:55 AM / a year 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, 2018.

COMPANY                         INSTRUMENT              RATING        AMOUNT    MOVEMENT
------                          ----------              ------        ------    ---------
Paradigm Tunneling Pvt Ltd      Non-FB WC limits       IND A4#          110      Downgraded and
# Reassigned ‘IND A4’ after being downgraded to IND D

Sri Mouli Textiles Pvt Ltd      Non-FB WC facility     IND A4+          43.1     Upgraded

Darbhanga-Motihari Transmission Secured NCDs           IND AAA(SO)      8600     Assigned
Co. Ltd
Darbhanga-Motihari Transmission Unsecured NCDs          -               8600     Withdrawn
Co. Ltd
Darbhanga-Motihari Transmission Rupee TL                -               8000     Withdrawn
Co. Ltd
L&T Samakhiali Gandhidham       Senior project Bk loansIND BBB+         7798     Affirmed
Tollway Ltd
Omniactive Health Technologies  TL                     IND BBB+         1400     Assigned
Omniactive Health Technologies  WC Fac                 IND BBB+ /IND A2 700      Assigned
Paradigm Tunneling Pvt Ltd      FB WC limits           IND B*           30       Downgraded and
* Reassigned ‘IND B’  after being downgraded to IND D
Sri Mouli Textiles Pvt Ltd      TL                     IND BB-          196.9    Upgraded from
                                                                                 IND B+
Sri Mouli Textiles Pvt Ltd      FB WC facility         IND BB- /IND A4+ 120      Upgraded
Vsk Laboratories Pvt Ltd        FB WC limits (LT/ST)   IND D            55       Downgraded and
                                                                                 Migrated to
Vsk Laboratories Pvt Ltd        NFB WC limits (ST)     IND D            25       Downgraded and
                                                                                 Migrated to
Vsk Laboratories Pvt Ltd        TL (LT)                IND D            161.5    Downgraded and
                                                                                 Migrated to
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 The withdrawn criteria are now available on India Ratings' website at

$: 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

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
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