January 12, 2018 / 3:51 AM / 10 days ago

India Ratings for Indian debt instruments – Jan 12

    Jan 12 (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 11, 2018.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Cosmo Films                     Non-FB WC limits       IND A1           1840     Affirmed
Cosmo Films                     CP** (carved out from  IND A1           100      Affirmed
                                FB limits)
**Not yet issued
Cosmo Films                     Proposed non-FB WC     Provisional IND  350      Affirmed
                                limits*                A1
*The rating is provisional and shall be confirmed upon the execution of the loan documents for
the above facility by CFL to the satisfaction of Ind-Ra.
Visen Industries                Non-FB WC limits*      IND A2           4250     Affirmed


LONG TERM RATINGS:
-------------------
Cosmo Films                     LT Bk loans            IND A+           4758.4   Affirmed
Outlook revised
Cosmo Films                     FB WC limits           IND A+ / IND A1  2650     Affirmed
Outlook revised
Cosmo Films                     Proposed long-TL*      Provisional IND  1200     Affirmed
                                                       A+
Outlook revised / *The rating is provisional and shall be confirmed upon the execution of the
loan documents for the above facility by CFL to the satisfaction of Ind-Ra.
Haryana Vidyut Prasaran Nigam   Bonds                  IND A+           6.657    Affirmed
Visen Industries                TL                     IND BBB          765      Affirmed
Visen Industries                Proposed non-FB WC     WD               300      Withdrawn
                                limits
(company did not proceed with the instrument as envisaged)


-----------------------------------------------------------------------------------------------
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 The withdrawn criteria are now available on India Ratings' website at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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