July 30, 2019 / 4:05 AM / 19 days ago

India Ratings for Indian debt instruments – Jul 30

    Jul 30 (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 29, 2019.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
D.R. Shah Construction Co.      Non-FB Fac             IND A4           30
Migrated to non-cooperating category; Issuer Not Cooperating
Dsp Investment Managers Pvt.    DSP Liquidity Fund     IND A1+mfs                Assigned
Ltd.
Indian Oil Corporation Ltd      CP (CP) programme      IND A1+          400      Affirmed
National Cooperative            CP (CP)                IND A1+          18.88    Affirmed
Development Corporation
National Cooperative            CP (CP)                IND A1+          2.17     Assigned
Development Corporation

LONG TERM RATINGS:
-------------------
D.R. Shah Construction Co.      FB Fac                 IND B+           30
Migrated to non-cooperating category; Issuer Not Cooperating
Indian Oil Corporation Ltd      NCDs (NCDs)            WD               10.7
Withdrawn (paid in full)
National Cooperative            TBs                    IND AA+          3        Affirmed
Development Corporation
National Cooperative            Proposed bonds*        Provisional IND  5        Affirmed
Development Corporation                                AA+
* The final rating will be assigned following the closure of the issue upon the receipt of final
documentation, conforming to the information already received by Ind-Ra.
Rba Finance Pvt Ltd             Bk loans               IND BB-          141
Maintained in non-cooperating category; Issuer Not Cooperating
Samriddhi Rice Mill (P) Ltd.    TL                     IND BB-          10.74
Migrated to non-cooperating category; Issuer Not Cooperating
Samriddhi Rice Mill (P) Ltd.    FB limits              IND BB-          75
Migrated to non-cooperating category; Issuer Not Cooperating
Vadilal Enterprises Ltd         Non-FB Bk Fac          IND A2+/ RWN     5
Downgraded and maintained on RWN
Vadilal Enterprises Ltd         TL                     IND BBB+/ RWN    200.6
Downgraded and maintained on RWN
Vadilal Enterprises Ltd         FB Bk Fac              IND BBB+/ RWN/   100
                                                       IND A2+/ RWN
Downgraded and maintained on RWN
Vadilal Industries Ltd          Non-FB Bk Fac          IND A2+/ RWN     102.5
Downgraded and maintained on RWN
Vadilal Industries Ltd          TL                     IND BBB+/ RWN    900
Downgraded and maintained on RWN
Vadilal Industries Ltd          FB Bk Fac              IND BBB+/ RWN    577.7
Downgraded and maintained on RWN
-----------------------------------------------------------------------------------------------
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