June 24, 2020 / 6:58 AM / 18 days ago

India Ratings for Indian debt instruments – Jun 24

    Jun 24 - 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 23, 2020.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
D. Manoharan’S                  Non-FB limits          IND A4           15       Affirmed
Hitech Print Systems Ltd        Non-FB limits          IND A4           55       Upgraded
Prism Johnson Ltd               Non-FB WC limits       IND A1           5440     Affirmed
Prism Johnson Ltd               Unsecured short-TL     IND A1           900      Affirmed
Prism Johnson Ltd               CP (CP) programme**    IND A1           2000     Affirmed
** CP has been carved out of PJL’s working capital limits and will be used to meet working
capital requirements
 
MEDIUM TERM RATINGS:
-------------------
Prism Johnson Ltd               Term deposit programme IND tA+/Stable   50       Affirmed
 
 
LONG TERM RATINGS:
-------------------
D. Manoharan’S                  FB limits              IND              85       Affirmed
                                                       B+/Stable/IND A4
D. Manoharan’S                  Proposed FB WC limit*  WD               55       Withdrawn
*The rating has been withdrawn as it has been outstanding for more than 90 days. The rated
instrument is no longer expected to proceed as previously envisaged
D. Manoharan’S                  Proposed non-FB WC     WD               5        Withdrawn
                                limits*
*The rating has been withdrawn as it has been outstanding for more than 90 days. The rated
instrument is no longer expected to proceed as previously envisaged
Hitech Print Systems Ltd        TL                     IND B+/Stable    82.56    Upgraded
(reduced from INR111.80 mlns)
Hitech Print Systems Ltd        FB limits              IND B+/Stable    140      Upgraded
Mb Power (Madhya Pradesh) Ltd   Proposed rupee TL      WD               51960    Withdrawn
Mb Power (Madhya Pradesh) Ltd   Proposed short-TL      WD               2500     Withdrawn
                                under WC facility
Mbl (Cgrg) Road Ltd             Rupee TL               IND A/Stable     5338     Affirmed
Mbl (Gsy) Road Ltd              Rupee TL               IND A/Stable     6694     Affirmed
Ostro Renewables Pvt Ltd        TL                     WD               1300     Withdrawn
Prism Johnson Ltd               LT Issuer Rating       IND A/Stable     -        Affirmed
Prism Johnson Ltd               NCDs##                 IND A/Stable     500      Assigned
## The assignment of the final rating follows the receipt of transaction documents, including
the final term sheet conforming to the information already received by Ind-Ra
Prism Johnson Ltd               NCDs                   IND A/Stable     3190     Affirmed
(reduced from INR4.94 blns)
Prism Johnson Ltd               TL                     IND A/Stable     10390    Affirmed
Prism Johnson Ltd               FB limits              IND A/Stable     4000     Affirmed
Prism Johnson Ltd               Proposed NCDs (NCDs)#  Provisional IND  2500     Affirmed
                                                       A/Stable
#The final rating will be assigned following the final issuance and the receipt of the final
documentation, conforming to the information already received by Ind-Ra
Pune Municipal Corporation      NCDs (NCDs)*           IND AA+/Stable   2000     Affirmed
* The frequency of interest payment is semi-annual (20 June and 20 December each year) and the
NCDs have a bullet repayment structure.
Ramagundam Fertilizers And      Long-TL*               IND A-/Stable    39400    Affirmed
Chemicals Ltd
* Non-fund based limits of INR11.8 billion sanctioned within the long-term loan limits. 
Uti Asset Management Company LtdUTI Ultra ST Fund      IND A+mfs        -        Affirmed
-----------------------------------------------------------------------------------------------
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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