July 10, 2019 / 7:51 AM / 2 months ago

India Ratings for Indian debt instruments – Jul 10

    Jul 10 (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
July 9, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Dantal Hydraulics               Non-FBL                IND A3+          315      -
(Migrated to non-cooperating category)
Wellness Forever Medicare       Non-FB WC limits       IND A3+          28.5     -
(Migrated to non-cooperating category)


LONG TERM RATINGS:
-------------------
Dantal Hydraulics               TL                     IND BBB          300      -
(Migrated to non-cooperating category)
Dantal Hydraulics               FB limits              IND BBB/A3+      385      -
(Migrated to non-cooperating category)
Dbl Hassan Periyapatna Tollways TL                     IND A            1296.7   Upgraded
Dbl Hassan Periyapatna Tollways Performance BG* (PBG)  WD               129.3    Withdrawn
* The PBG facility is closed by the lenders and there is no amount outstanding against this
facility as on date.
Dbl Hirekerur Ranibennur        TL                     IND A            960      Upgraded
Tollways
Dbl Mundargi Harapanahalli      Rupee TL               IND A            850      Upgraded
Tollways
Eagle Receivable Trust          Series A1 pass-through Provisional IND  1577.3   Assigned
                                certificates (PTCs)    AAA
Falcon Receivable Trust         Series A1 pass-through Provisional IND  1431.7   Assigned
                                certificates (PTCs)    AAA
Flamingo Receivable Trust       Series A1 pass-through Provisional IND  1429.9   Assigned
                                certificates (PTCs)    AAA
Green Infra Wind                NCDs (NCDs)            IND AA           10000    Affirmed
Green Infra Wind                WC facility            IND AA-/IND A1+  250      Affirmed
Green Infra Wind                LOC facility           IND AA-/IND A1+  4000     Affirmed
Green Infra Wind                TL                     WD               2060     Withdrawn
(paid in full)
Harrier Receivable Trust        Series A1 pass-through Provisional IND  1575.3   Assigned
                                certificates (PTCs)    AAA
Institute Of Foreign Trade &    TL                     IND BBB-         70       -
Management Society
(Maintained in non-cooperating category)
Institute Of Foreign Trade &    WC facility            IND BBB-         100      -
Management Society
(Maintained in non-cooperating category)
Nakshtra                        Proposed FB WC limits  IND D            20       Downgraded
                                (LT/ST)
Nakshtra                        FB WC limits (LT/ST)   IND D / D        70       Downgraded
Shri K. K. Jain Educational     TL                     IND BB+          102.7    Affirmed
Trust
Shri K. K. Jain Educational     WC facility            IND BB+          100      Affirmed
Trust
Wellness Forever Medicare       FB WC limits           IND BBB          480      -
(Migrated to non-cooperating category)
Wellness Forever Medicare       TL                     IND BBB          96.9     -
(Migrated to non-cooperating category)

-----------------------------------------------------------------------------------------------
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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