March 12, 2019 / 9:31 AM / 3 months ago

India Ratings for Indian debt instruments – Mar 12

    Mar 12 (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
March 11, 2019.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
------                          ----------             ------          ------    ---------
Asianet Satellite               Non-FB Fac             IND A1           1710     Affirmed
Communications Ltd
K.C.V.R Infra Projects Pvt Ltd  Non-FB WC limits       IND A3           860      Downgraded
Andhra Pradesh Expressway’S     Series D NCDs          -                711      Withdrawn
                                                                                 (paid in full)

Andhra Pradesh Expressway’S     Series E to G Senior   IND AAA(SO)      1947     Affirmed
Asianet Satellite               TL                     IND A            2214.2   Affirmed
Communications Ltd
Asianet Satellite               CC limit               IND A/IND        300      Affirmed
Communications Ltd                                     A1
Eswari Green Energy Llp         TL                     IND B            200      Migrated to
Housing And Urban Development   GoI fully serviced     IND AAA          103200   Assigned
Corporation Ltd                 bonds*
* Part of HUDCO’s INR400 billion borrowing programme for FY19
Inventia Healthcare Ltd         TL                     IND BBB+         277      Assigned
Inventia Healthcare Ltd         FB limits              IND              250      Assigned
K.C.V.R Infra Projects Pvt Ltd  FB WC limits           IND              90       Downgraded
Orient Craft Ltd                TL                     IND BBB          2800     Assigned
Orient Craft Ltd                FB limits              IND              3000     Assigned
Shriram Housing Finance Ltd     Bk loans               IND AA           15000    Affirmed
Shriram Housing Finance Ltd     NCDs                   IND AA           6000     Affirmed
Skylark Realtors Pvt. Ltd       Long-TL                IND BBB-         2000     Assigned
Skylark Realtors Pvt. Ltd       NCD                    IND BBB-         500      Assigned
Skylark Realtors Pvt. Ltd       Proposed long-TL*      Provisional IND  750      Assigned
*The rating is provisional and shall be confirmed upon the sanction and execution 
of loan documents for the above facilities by SRPL to the satisfaction of Ind-Ra.
Uco Bank                        Basel III-complaint    IND AA-          5000     Assigned
                                Tier II bonds*
*Yet to be issued
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

$: 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

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
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