June 7, 2018 / 7:53 AM / 2 months ago

India Ratings for Indian debt instruments – Jun 7

    Jun 7 (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 6, 2018.

COMPANY                         INSTRUMENT             RATING        AMOUNT      MOVEMENT
                                                                     (RS.MLN)
------                          ----------             ------        ------      ---------
SHORT TERM RATINGS:
-------------------
Biovet Pvt Ltd                  Non-FB WC limit        IND A4+          50       Assigned
Demandshore Solutions Pvt Ltd   Non FB Fac             IND A4           20       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Demandshore Solutions Pvt Ltd   Proposed non FB Fac    Provisional IND  10       Maintained in
                                                       A4                        non
                                                                                 cooperating 
                                                                                 category
Ford Credit India Pvt Ltd       CP                     IND A1+          10000    Affirmed
Sitaram Infraproject Pvt Ltd    Non-FB WC limits       IND A4+          100      Assigned


LONG TERM RATINGS:
-------------------
Bank Of India                   Basel III AT1          -                5        Withdrawn
                                perpetual bonds
Bank Of India                   Basel III Tier 2 bonds IND AA+          10       Affirmed
Bharatpur Municipal Corporation Issuer rating          IND BBB-         -        Withdrawn
Biovet Pvt Ltd                  FB WC limit            IND BB-/IND A4+  60       Assigned
Carol Info Services Ltd         TL                     IND BBB+         2500     Downgraded
Demandshore Solutions Pvt Ltd   Long-TL                IND B+           18.2     Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Demandshore Solutions Pvt Ltd   FB Fac                 IND B+/IND A4    65       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Demandshore Solutions Pvt Ltd   Proposed long-TL       Provisional IND  13       Maintained in
                                                       B+                        non
                                                                                 cooperating 
                                                                                 category
Demandshore Solutions Pvt Ltd   Proposed FB Fac        Provisional IND  20       Maintained in
                                                       B+/Provisional            non
                                                       IND A4                    cooperating 
                                                                                 category
Ford Credit India Pvt Ltd       Bk loans               IND AAA          12000    Affirmed
Ford Credit India Pvt Ltd       Bk loans*              IND AAA          3000     Assigned
* Yet to be issued
Gland Pharma Ltd                FB limits              -                1000     Withdrawn
Gland Pharma Ltd                Non-FB limits          -                1200     Withdrawn
Green Infra Wind Power          Bk loan                IND A+           6290     Upgraded
Generation Ltd
Green Infra Wind Power          CC/overdraft facility  IND A+           300      Upgraded
Generation Ltd
Green Infra Wind Power          Capex LOC*             IND A+           2500     Upgraded
Generation Ltd
* A facility commonly availed by GIWPGL and Green Infra Wind Energy Limited (‘IND AA-’).
Hindaun City Municipal Council  LT Issuer Rating       IND BB           -        Withdrawn
Kwality Feeds Ltd               TL                     IND BB           75.3     Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Kwality Feeds Ltd               FB Fac                 IND BB/IND A4+   47.5     Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Montecarlo Hubli Haveri         TL                     IND A            4227.5   Assigned
Highways Pvt Ltd
Purvanchal Flour Mill Pvt Ltd   TL                     IND BB           55       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Purvanchal Flour Mill Pvt Ltd   FB WC limit            IND BB/IND A4+   20       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Quest Infosys Foundation        TL                     IND B            57       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Quest Infosys Foundation        FB WC facility         IND B            40       Maintained in
                                                                                 non
                                                                                 cooperating 
                                                                                 category
Sitaram Infraproject Pvt Ltd    FB WC limits           IND BB+/IND A4+  150      Assigned
Tera Software Ltd               FB limits              IND BB+/IND A4+  430      Downgraded
Tera Software Ltd               Non-FBL                IND BB+/IND A4+  880      Downgraded
-----------------------------------------------------------------------------------------------
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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