June 16, 2020 / 7:34 AM / 21 days ago

India Ratings for Indian debt instruments – Jun 16

    Jun 16 - 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
June 15, 2020.

COMPANY                         INSTRUMENT            RATING         AMOUNT   MOVEMENT
                                                                    (RS.MLN)
------                          ----------            ------         ------   ---------
SHORT TERM RATINGS:
-------------------
Sai Retail India Ltd           debt moratorium        IND A-           -       -
In view of the COVID-19 led lockdown, the issuer has informed the agency that it needs more time
to provide the required data.
Balaji Action Buildwell        TL                     IND A+/Stable    61      Affirmed
(reduced from INR260 mlns)
 

LONG TERM RATINGS:
-------------------
Balaji Action Buildwell        FB limit*              IND              800     Affirmed
                                                      A+/Stable/IND A1+
(reduced from INR1,000 mlns)* The lender has provided a sub-limit of INR300 million for
non-fund-based limits under the sanctioned fund-based limits.
Carol Info Service Ltd         TL                     IND BBB-/RWE     3500    Placed on RWE
(increased from INR2,500 mlns)
Cymbio Pharma Pvt Ltd          TL                     IND BB           3.91    -
Migrated to non-cooperating category(Issuer not Cooperating)
Cymbio Pharma Pvt Ltd          FB WC limits           IND BB /IND A4+  50      -
Migrated to non-cooperating category(Issuer not Cooperating)
Emaar Mgf Land Ltd             LT Issuer Rating       IND BBB-/Stable  -       -
Emaar Mgf Land Ltd             TL                     IND BBB-/Stable  27782   -
(reduced from INR32.672 blns)
Emaar Mgf Land Ltd             TL                     IND BBB-/Stable  6800    -
Emaar Mgf Land Ltd             Fund based WC Limits   IND              6472    -
                                                      BBB-/Stable/IND
                                                      A3
(increased from INR5.450 blns)*/*Overdraft limits worth INR3.000 billion and working capital
limits worth INR2.450 billion were previously listed separately. They have now been merged with
the fund -based working capital limits.
Emaar Mgf Land Ltd             Non-FB WC limits       IND              1410    -
                                                      BBB-/Stable/IND
                                                      A3
(reduced from INR2.616 blns)
Ennore Tank Terminals Pvt Ltd  Bk loans               IND AA/Stable    1344    Affirmed
(reduced from INR1,715 mlns)
Ennore Tank Terminals Pvt Ltd  WC Fac                 IND AA/Stable    401     Affirmed
(reduced from INR500 mlns)
Hotel Swosti Pvt Ltd.          TL                     IND BB           41.9    -
Migrated to non-cooperating category(Issuer not Cooperating)
Hotel Swosti Pvt Ltd.          FB limits              IND BB           7.5     -
Migrated to non-cooperating category(Issuer not Cooperating)
Patna Bakhtiyarpur Tollway Ltd Bk loans(LT)           IND D            7145.89 -
Maintained in Non-Cooperating Category(Issuer Not Cooperting)
Sai Silks (Kalamandir) Ltd     debt moratorium        IND A-           -       -
In view of the COVID-19 led lockdown, the issuer has informed the agency that it needs more time
to provide the required data.
Sathyam Green Power Pvt Ltd    Senior Bk loans        IND BB-          358.4   -
Maintained in Non-Cooperating Category(Issuer Not Cooperting)
Sathyam Green Power Pvt Ltd    FB WC limit            IND BB-          97.5    -
Maintained in Non-Cooperating Category(Issuer Not Cooperting)
Shree Hari Steel Industries    FB WC limits           IND B+/Stable    100     Assigned
Silver Oak Shops Offices Co.   TL*                    -                147.3   -
Op. Housing Society
*Maintained at ‘IND BBB-(ISSUER NOT COOPERATING)’ before being withdrawn
Silver Oak Shops Offices Co.   Overdraft*             -                260     -
Op. Housing Society
*Maintained at ‘IND BBB-(ISSUER NOT COOPERATING)’ before being 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@refinitiv.com)
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