May 15, 2018 / 4:06 AM / 6 days ago

India Ratings for Indian debt instruments – May 15

    May 15 (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
May 14, 2018.

COMPANY                         INSTRUMENT             RATING        AMOUNT      MOVEMENT
                                                                     (RS.MLN)
------                          ----------             ------        ------      ---------
SHORT TERM RATINGS:
-------------------
Advance India Projects Ltd      Non-FBL                IND A3           150      Assigned
B.S. Builders                   Non-FB limits          IND A4           30
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Champion Rolling Mill Pvt Ltd   Non-FB limits          IND A4+
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Enkebee Infra’S                 Non-FB WC limit        IND A4+          50
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Gangamai Industries And         Non-FB Fac             IND A3           250
Constructions Ltd
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Hans Rubber & Sports Pvt Ltd    Non-FB limits          IND A4           10
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Mansha Builders & Contractors   Non-FBL                IND A4+          60
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Preeti Buildcon Pvt Ltd         Non-FB limits          IND A4+          24
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Regal Trading Pvt Ltd           Non-FB WC limits       IND A3           150      Upgraded
(reduced from INR275mln)
Rewinder Techno Electricals     Non-FB limits          IND A4+          20
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Advance India Projects Ltd      TL                     IND BBB-         200      Assigned
B.S. Builders                   FB limits              IND B+ /IND A4   40
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Champion Rolling Mill Pvt Ltd   Long-TL                IND BB+
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Champion Rolling Mill Pvt Ltd   FB limits (CC)         IND BB+
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Enkebee Infra’S                 FB WC limit            IND BB-          10
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Gangamai Industries And         TL                     IND BBB-         126.6
Constructions Ltd
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Gangamai Industries And         FB WC                  IND BBB- /IND A3 2240
Constructions Ltd
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Gayatri Dye Chem’S              TL                     IND B+           11.55
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Gayatri Dye Chem’S              FB limits              IND B+           50
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Hans Rubber & Sports Pvt Ltd    FB limits              IND B /IND A4    50
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Hans Rubber & Sports Pvt Ltd    TL                     INDB             58
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Kejriwal Bee Care India Ltd     FB limits              IND BBB /IND A3+ 100      Assigned
M/S Rashmi Motor’S              FB limits              IND BB           308      Affirmed
(increased from INR168mln)
Mansha Builders & Contractors   FB limits              IND BB- /IND A4+ 40
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Mohamad Israil Cold Storage Pvt FB WC limit            IND B            23.9
Ltd
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Mohamad Israil Cold Storage Pvt Long-TL                IND B            50.18
Ltd
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Ms Solvex Pvt Ltd               FB WC limit            IND BB+          100
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Ms Solvex Pvt Ltd               TL                     IND BB+          140
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Preeti Buildcon Pvt Ltd         FB limits              IND BB+ /IND A4+ 40
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Regal Trading Pvt Ltd           Proposed FB Fac        -                5        Withdrawn
 (the company did not proceed with the instrument as envisaged)
Regal Trading Pvt Ltd           Proposed non-FB Fac    -                45       Withdrawn
 (the company did not proceed with the instrument as envisaged)
Regal Trading Pvt Ltd           FB WC limits           IND BBB- /IND A3 150      Upgraded
(increased from INR25mln)
Rewinder Techno Electricals     FB limits              IND BB- /IND A4+ 35
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Shree Dwarkadhish Udyog Pvt Ltd FB WC limits           IND D            100
Downgraded and migrated to non-cooperating category(ISSUER NOT COOPERATING)
Trishul Tread Pvt Ltd           FB limits              IND BB           170
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Trishul Tread Pvt Ltd           Proposed FB limits     Provisional IND  40
                                                       BB
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Vasudha Agro Food Products Pvt  Proposed FB limits     Provisional IND  35
Ltd                                                    B+
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
Vasudha Agro Food Products Pvt  Proposed long-TL       Provisional IND  46.5
Ltd                                                    B+
Migrated to Non- Cooperating Category (ISSUER NOT COOPERATING)
-----------------------------------------------------------------------------------------------
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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