January 31, 2018 / 9:07 AM / 25 days ago

India Ratings for Indian debt instruments – Jan 31

   Jan 31 (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 30, 2018.

COMPANY                         INSTRUMENT             RATING         AMOUNT   MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------   ---------
SHORT TERM RATINGS:
-------------------
Ashok Timber Trading Co.’S      Non-FB limits          IND A4           300      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Dhanlaxmi Electricals Pvt Ltd   Non-FB WC limits       IND A3           170      Upgraded
Dhanlaxmi Electricals Pvt Ltd   Proposed non-FB WC     Provisional IND  675      Assigned
                                limits*                A3
*The rating is provisional and shall be confirmed upon the sanction and execution
 of loan documents for the above facilities by DEPL to the satisfaction of Ind-Ra.
Fivebro International Pvt Ltd   Non-FB LOC limits      IND A4           120      Upgraded
Fivebro International Pvt Ltd   Non-FB BG limits       IND A4           30       Upgraded
Maruti Infracreation Pvt Ltd    Non-FB Fac             IND A3           310      Assigned
Melzer Chemicals Pvt Ltd        Non-FB WC limits       IND A3           50       Affirmed
Melzer Chemicals Pvt Ltd        Proposed non-FB WC     Provisional IND  17.5     Affirmed
                                limits*                A3
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of the loan documents for the above facility by MCPL to the satisfaction of Ind-Ra.
Neo Pack Plast (I) Pvt Ltd      Non-FB WC limits       IND A4+          3.5      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Neolite Zkw Lightings Pvt Ltd   Non-FB limits          IND A3+          97.5     Upgraded
Pc Jeweller Ltd                 CP                     IND A1+          5000     Affirmed
Precious Tradelink Pvt Ltd      Proposed non-FBL       Provisional IND  100      Migrated to
                                                       A4+                       Non
                                                                                 Cooperating 
                                                                                 Category
Renny Strips Pvt Ltd            Non-FB limits          IND A4+          50       Affirmed


LONG TERM RATINGS:
-------------------
Ashok Timber Trading Co.’S      FB limits              IND B            75       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Dhanlaxmi Electricals Pvt Ltd   FB WC limits           IND BBB-/IND A3  60       Upgraded
Dhanlaxmi Electricals Pvt Ltd   Proposed FB WC limits* Provisional IND  80       Assigned
                                                       BBB-/Provisional
                                                       IND A3
*The rating is provisional and shall be confirmed upon the sanction and execution 
of loan documents for the above facilities by DEPL to the satisfaction of Ind-Ra.
Dhanlaxmi Electricals Pvt Ltd   Long-TL                                 9.2      Withdrawn
                                                                                 (repaid in
                                                                                 full)
Fivebro International Pvt Ltd   TL                     IND C            8.6      Upgraded from
                                                                                 ‘IND D
Fivebro International Pvt Ltd   FB WC  limits          IND C/IND A4     130      Upgraded
Fortesi Sbl Ifmr Capital 2018   Series A1 pass-through Provisional IND  76.03    Assigned
                                certificates (PTCs)    BBB-
Gajraj Automobiles Pvt Ltd      FB WC limits           IND BB-          180      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Maruti Infracreation Pvt Ltd    FB Fac                 IND BBB-/IND A3  70       Assigned
Melzer Chemicals Pvt Ltd        TL                     IND BBB-         24.8     Affirmed
Melzer Chemicals Pvt Ltd        FB WC limits           IND BBB-         100      Affirmed
Melzer Chemicals Pvt Ltd        Proposed TL*           Provisional IND  60       Assigned
                                                       BBB-
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of the loan documents for the above facility by MCPL to the satisfaction of Ind-Ra.
Melzer Chemicals Pvt Ltd        Proposed FB WC limits* Provisional IND  20       Assigned
                                                       BBB-
* The ratings are provisional and shall be confirmed upon the sanction and execution 
of the loan documents for the above facility by MCPL to the satisfaction of Ind-Ra.
Multifilms Plastics Pvt Ltd     TL                     IND BB           9.3      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Multifilms Plastics Pvt Ltd     FB limits              IND BB /IND A4+  50       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Multifilms Plastics Pvt Ltd     Non-FB limits          IND BB /IND A4+  40       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Neo Pack Plast (I) Pvt Ltd      FB WC limits           IND BB-          50       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Neo Pack Plast (I) Pvt Ltd      Long-TL                IND BB-          5.8      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Neolite Zkw Lightings Pvt Ltd   TL                     IND BBB          185.9    Upgraded
Neolite Zkw Lightings Pvt Ltd   FB WC limits           IND BBB/IND A3+  320      Upgraded
Renny Strips Pvt Ltd            FB limits              IND BB+          130      Affirmed
Shakuntala Warehouse’S          FB limits              IND B+           174      Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Vasudev Power Pvt Ltd           FB WC Fac                               10       Withdrawn
Vasudev Power Pvt Ltd           Non-FB Fac                              75       Withdrawn
-----------------------------------------------------------------------------------------------
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