January 5, 2018 / 5:10 AM / 8 months ago

India Ratings for Indian debt instruments – Jan 5

    Jan 5 (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 4, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Jai India Weaving Mills Pvt Ltd Non-FB Fac             IND A4+          55.8     Affirmed
(reduced from INR65.8mlns)
Jayesh Industries Ltd           Standby line of credit IND A4+          10       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Jayesh Industries Ltd           Non-FB WC limit        IND A4+          52       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Lmj International Ltd           Non-FB limits          IND A2+          3600     Assigned

LONG TERM RATINGS:
-------------------
Achampet Nagar Panchayat        LT Issuer Rating       IND B                     Assigned
Cv Ifmr Capital 2016            Series A1 pass-through IND A+(SO)       139.54   Upgraded
                                certificates (PTCs)
Cv Ifmr Capital 2016            Series A2 PTCs         IND BBB-(SO)     41       Upgraded
Darbhanga-Motihari Transmission Secured NCDs (NCDs)    IND AAA(SO)      8600     Assigned
Co. Ltd
Darbhanga-Motihari Transmission Unsecured NCDs         WD               8600     Withdrawn
Co. Ltd
Darbhanga-Motihari Transmission Rupee TL               WD               8000     Withdrawn
Co. Ltd
Dheepti Spices                  FB WC limit            IND B /INDA4     54       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Dubbaka Nagara Panchayat        LT Issuer Rating       IND B-           -        Assigned
Jai India Weaving Mills Pvt Ltd TL                     IND BB+          206.3    Upgraded from
                                                                                 IND BB
 (reduced from INR251.3mln)
Jai India Weaving Mills Pvt Ltd FB Fac                 IND BB+ /IND A4+ 217.5    Upgraded from
                                                                                 IND BB/
                                                                                 Reaffirmed
(reduced from INR220mlns)
Jayesh Industries Ltd           FB WC limit            IND BB-          87.5     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Jayesh Industries Ltd           Proposed LT loans      Prov IND BB-     120      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
ISSUER NOT COOPERATING
Lmj International Ltd           FB limits              IND BBB+ /IND A2+1840     Assigned
Medak Municipality              LT Issuer Rating       IND BB-          -        Assigned
Nikki Steels Pvt Ltd            FB WC limit            IND B+/IND A4    100      Assigned
-----------------------------------------------------------------------------------------------
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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