May 17, 2018 / 3:50 AM / 7 days ago

India Ratings for Indian debt instruments – May 17

    May 17 (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 16, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Asha Enterprises Pvt Ltd        Non-FB WC limit        IND A4+          60
Maintained in Non- Cooperating Category
G.S. Express Pvt Ltd            Non-FB limit           IND A4+          580
Migrated to non- cooperating category
G.S. Express Pvt Ltd            Proposed non-FB limit  Provisional IND  420
                                                       A4+
Migrated to non- cooperating category
General Polytex Pvt Ltd         Non-FB limit           IND A4+          23
Migrated to Non- Cooperating Category
Grey’S Exim Pvt Ltd             Non-FB limit           IND A4+          55
Maintained in Non- Cooperating Category
Ion Healthcare Pvt Ltd          Non-FB WC limit        IND A4+          20
Maintained in Non- Cooperating Category
Jogindra Castings Pvt Ltd       Non-FB limits          IND A4+          30
Migrated to Non- Cooperating Category
National Fertilizers Ltd        Non-FB WC              IND A1+          15       Assigned
National Fertilizers Ltd        CP*                    IND A1+          10       Assigned
*Carved out of the fund- based working capital limits
Prashant Automobiles Pvt. Ltd.  Non-FB WC limit        IND A4           8.6
Maintained in Non- Cooperating Category
Rajbir Construction Pvt Ltd     NFB WC limits          IND A3+          910      Affirmed
(increased from 710 mln)
Vibrant Constructions Pvt Ltd   Non-FB WC limits       IND A4+          160      Assigned
Vinay Wires & Poly Products Pvt Non-FB limit           IND A4+          140
Ltd
Migrated to Non- Cooperating Category

LONG TERM RATINGS:
-------------------
3B Infrastructure Pvt Ltd       TL                     IND BB-          165
Maintained in non- cooperating category
3B Infrastructure Pvt Ltd       FB limits              IND BB-/ IND A4+ 10
Maintained in non- cooperating category
Ahp Garments Pvt Ltd            TL                     IND AA-          1896.1   Assigned
Alex Green Energy Pvt. Ltd      TL                     IND BB+          285.1
Maintained in Non- Cooperating Category
Amarprakash Developers Pvt Ltd  Long-TL                IND BBB-         2321.7
Maintained in non- cooperating category
Amarprakash Developers Pvt Ltd  Long-TL                IND BBB-         565
Maintained in non- cooperating category
Amarprakash Developers Pvt Ltd  Proposed long-TL       Provisional IND  750
                                                       BBB-
Maintained in non- cooperating category
Asha Enterprises Pvt Ltd        FB WC limit            IND BB+/ IND A4+ 15
Maintained in Non- Cooperating Category
Calcom Cement India Ltd         TL                     IND A            6113.5   Affirmed
Calcom Cement India Ltd         FB limits              IND A/ IND A1    298      Affirmed
Calcom Cement India Ltd         Non-FB limits          IND A/ IND A1    78.8     Affirmed
Continental Earthmovers         FB WC limit            IND BB/ IND A4+  70
Migrated to Non- Cooperating Category
Foodlink Restaurants (I) Pvt LtdLong-TL                IND BB           100
Maintained in non- cooperating category
Foodlink Restaurants (I) Pvt LtdFB limit               IND BB/ IND A4+  25
Maintained in non- cooperating category
Foodlink Restaurants (I) Pvt LtdProposed long-TL       Provisional IND  205
                                                       BB
Maintained in non- cooperating category
G.S. Express Pvt Ltd            FB limit               IND BB-/ IND A4+ 400
Migrated to non- cooperating category
G.S. Express Pvt Ltd            Proposed FB limit      Provisional IND  100
                                                       BB-/
                                                        Provisional IND A4+
Migrated to non- cooperating category
General Polytex Pvt Ltd         TL                     IND BB-          561.7
Migrated to Non- Cooperating Category
General Polytex Pvt Ltd         FB limit               IND BB-          180
Migrated to Non- Cooperating Category
Gp Wind (Jangi) Pvt Ltd         NCDs                   IND AA-(SO)      2920     Affirmed
(reduced from 3,000 mln)
Grey’S Exim Pvt Ltd             Long-TL                IND BB-          4.5
Maintained in Non- Cooperating Category
Grey’S Exim Pvt Ltd             FB limit               IND BB-/ IND A4+ 242.5
Maintained in Non- Cooperating Category
Grey’S Exim Pvt Ltd             Proposed FB limit      Provisional IND  48
                                                       BB-/ Provisional
                                                       IND A4+
Maintained in Non- Cooperating Category
Hindusthan Loha Ltd             FB limits              IND BB           230
Migrated to Non- Cooperating Category
Ion Healthcare Pvt Ltd          TL                     IND BB-          32
Maintained in Non- Cooperating Category
Ion Healthcare Pvt Ltd          FB WC limit            IND BB-/ IND A4+ 90
Maintained in Non- Cooperating Category
Jogindra Castings Pvt Ltd       FB WC limits           IND BB+/ IND A4+ 70
Migrated to Non- Cooperating Category
Magppie Exports Pvt Ltd         FB WC limits           IND B/ IND A4    195      Assigned
National Fertilizers Ltd        FB WC                  IND AA/ IND A1+  10       Assigned
Parameswara Agencies            FB WC limits           IND B/ IND A4    60
Maintained in Non- Cooperating Category
Prashant Automobiles Pvt. Ltd.  FB WC limit            IND B-           57.5
Maintained in Non- Cooperating Category
Prashant Automobiles Pvt. Ltd.  Long-TL                IND B-           17.4
Maintained in Non- Cooperating Category
Rajbir Construction Pvt Ltd     FB WC limits           IND BBB          35       Affirmed
Sis Hospital & Research Centre  TL                     IND B            62.38
Migrated to Non- Cooperating Category
Vibrant Constructions Pvt Ltd   FB WC limits           IND BB/ IND A4+  20       Assigned
Vijay Automobiles               FB WC limits           IND B+/ IND A4   100
Maintained in non- cooperating category
Vinay Wires & Poly Products Pvt FB limit               IND BB-/ IND A4+ 100
Ltd
Migrated to Non- Cooperating Category
Yogesh Trading Co.              FB WC limit            IND BB/ IND A4+  350
Maintained in Non- Cooperating Category
-----------------------------------------------------------------------------------------------
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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