March 27, 2018 / 3:50 AM / 4 months ago

India Ratings for Indian debt instruments – Mar 27

    Mar 27 (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 26, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Clp Wind Farms (I) Pvt Ltd      CP (CP)                IND A1+          4000     Affirmed
Rkd Construction Pvt Ltd        Non-FB WC limits       IND A2           1925     Affirmed
Rkd Construction Pvt Ltd        Proposed non-FB WC     Provisional IND  1450     Affirmed
                                limits*                A2
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by RKD to the satisfaction of Ind-Ra.; increased from 775 mln
Shriram Transport Finance Co.   CP*                    IND A1+          25000    Assigned
Ltd
*Unutilised
Touch Tone Teleservices         Non-FB WC Fac          IND A4+          40       Affirmed
reduced from 60 mln

LONG TERM RATINGS:
-------------------
Akin Chemicals Pvt. Ltd.        Non-FB WC limits       IND BBB- /IND A3 100      Assigned
Amroon Foods Pvt Ltd            FB limits              IND BBB+ /IND A2 1200     Affirmed
increased from 1,188.2 mln
Amroon Foods Pvt Ltd            Non-FB limits          IND BBB+ /IND A2 5        Affirmed
Amroon Foods Pvt Ltd            TL                     WD               6.8      Withdrawn
                                                                                 (repaid in
                                                                                 full)
Chenani Nashri Tunnelway Ltd    Senior LT Bk loans*    IND A-           29760    Upgraded
(INR28,906.9 outstanding on 31 January 2018)
Chenani Nashri Tunnelway Ltd    Subordinated LT Bk     IND A-           3720     Upgraded
                                loans
(INR3,484.9 outstanding on 31 January 2018)
Clp Wind Farms (I) Pvt Ltd      NCDs (NCDs; bond       IND AA           6000     Affirmed
                                issuance)
Clp Wind Farms (I) Pvt Ltd      External commercial    IND AA           USD293.78Affirmed
                                borrowing (ECB)*
*RTL and ECB outstanding as on 31 December 2017 were INR5,488 million and USD137.7 million.
Clp Wind Farms (I) Pvt Ltd      Rupee TL (RTL)*        IND AA           8292     Affirmed
*RTL and ECB outstanding as on 31 December 2017 were INR5,488 million and USD137.7 million.;
reduced from 13,556 mln
Fair Exports India Pvt Ltd      TL                     IND BBB+         200      Affirmed
increased from 59.5 mln
Fair Exports India Pvt Ltd      FB limits              IND BBB+ /IND A2 1300     Affirmed
reduced from 1,405.5 mln
Fair Exports India Pvt Ltd      Non-FB limits          IND BBB+ /IND A2 35       Affirmed
Kamineni Educational Society    TL                     IND BBB-         650      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kamineni Educational Society    Non-FB WC limits       IND BBB-         200      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Kamineni Educational Society    FB WC limits           IND BBB-         50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
M.M. Detergents Company Pvt Ltd FB limit               IND BB /IND A4+  450      Assigned
Poggenamp Nagarsheth            FB WC limit            IND BB+ /IND A4+ 200      Assigned
Powertronics Pvt Ltd
Raghuvir Developers And BuildersLong-TL                IND BBB-         4316.3   Assigned
Rkd Construction Pvt Ltd        TL                     IND BBB+         142.29   Upgraded
reduced from 325 mln
Rkd Construction Pvt Ltd        FB WC limits           IND BBB+         975      Upgraded
Rosa Power Supply Co. Ltd       Rupee TL               IND A            32760    Downgraded
Rosa Power Supply Co. Ltd       External commercial    IND A            USD192.19Downgraded
                                borrowing
Shriram Transport Finance Co.   Subordinated debt*     IND AA+          20000    Assigned
Ltd
*Unutilised
Srimathi Sundaravalli Memorial  Bk loans               WD               698.4    Withdrawn
Educational Trust
Srimathi Sundaravalli Memorial  FB WC Fac              WD               12       Withdrawn
Educational Trust
Srimathi Sundaravalli Memorial  Proposed Bk loans      WD               939.6    Withdrawn
Educational Trust
Suryoday One Energy Pvt Ltd     Rupee TL*              IND BBB+         2121     Assigned
*The assignment of final rating is based on the receipt of all executed financing documents
related to rupee term loan 
Touch Tone Teleservices         FB WC Fac              IND BB-          80       Affirmed
increased from 60 mln
Vashudev Trading Company        FB WC                  IND B+ /IND A4   50       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Visvesvaraya Jala Nigam Ltd     TL                     IND AA- (SO)     3000     Affirmed
Visvesvaraya Jala Nigam Ltd     Proposed TL*           Provisional IND  7350     Assigned
                                                       AA- (SO)
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by VJNL to the satisfaction of Ind-Ra.
-----------------------------------------------------------------------------------------------
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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