June 17, 2019 / 4:38 AM / a month ago

India Ratings for Indian debt instruments – Jun 17

    Jun 17 (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
June 14, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Hy-Tuf Steels Pvt Ltd           Non-FB WC limits       IND A4+          8        -
(Issuer Not Cooperating); Migrated to non-cooperating category
Rdc Concrete (I) Pvt Ltd        Non-FB limits          IND A1           130      Assigned
Simplex Castings                Non FB limits          IND A4+          550      Affirmed
Issuer did not cooperate; based on the best available information

LONG TERM RATINGS:
-------------------
Aks Medical & Research Centre   TL                     IND BB-          500      -
Pvt Ltd
(Issuer Not Cooperating); Migrated to non-cooperating category
Amrita Sai Educational          WC Fac                 IND BB           29       Affirmed
Improvement Trust’S
Dbl Tuljapur Ausa Highways Ltd  Rupee TL               IND A+           3350     Upgraded
Dbl Tuljapur Ausa Highways Ltd  Performance BG (PBG)*  WD               455.6    Withdrawn 
*The PBG was released by NHAI on the completion of 30% construction works (physical progress) in
accordance with the concession agreement signed between DTAHL and NHAI. The PBG limits were
subsequently cancelled by the lenders and there is no amount outstanding against this facility
as on date.
Global Coal And Mining Pvt Ltd  TL                     IND A            2222     Assigned
Global Coal And Mining Pvt Ltd  FB limits              IND A / IND A1   550      Assigned
Global Coal And Mining Pvt Ltd  Non-FB limits          IND A / IND A1   7100     Assigned
Hy-Tuf Steels Pvt Ltd           FB WC limits           IND BB+          130      -
(Issuer Not Cooperating); Migrated to non-cooperating category
Hy-Tuf Steels Pvt Ltd           TL                     IND BB+          34.8     -
(Issuer Not Cooperating); Migrated to non-cooperating category
Rdc Concrete (I) Pvt Ltd        TL                     IND A-           400      Assigned
Rdc Concrete (I) Pvt Ltd        FB limits              IND A-/IND A1    150      Assigned
Sbt Spintex Pvt Ltd             Long-TL                IND BB+          21.5     -
(Issuer Not Cooperating); Migrated to non-cooperating category
Sbt Spintex Pvt Ltd             FB limit               IND BB+          65       -
(Issuer Not Cooperating); Migrated to non-cooperating category
Shri Hiranyakeshi Sahakari      Long-TL                WD               101.27   Withdrawn 
Sakkare Karkhane Niyamit’S
Simplex Castings                FB limits              IND BB-          500      Downgraded
Issuer did not cooperate; based on the best available information
Simplex Castings                TL                     IND BB-          146.4    Downgraded
Issuer did not cooperate; based on the best available information
Sungro Seeds Pvt Ltd            TL                     IND BB+          72       Affirmed
Sungro Seeds Pvt Ltd            Fund based WC limits   IND BB+          365      Affirmed
Sungro Seeds Pvt Ltd             FB WC limits^         IND BB+          85       Assigned
^The final ratings have been assigned following the receipt of executed financing documents by
Ind-Ra.
Sungro Seeds Pvt Ltd            Non-FB WC limits       WD               10       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)
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