November 13, 2017 / 7:08 AM / 4 days ago

India Ratings for Indian debt instruments – Nov 13

    Nov 13 (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
November 10, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Apollo Tyres                    CP (CP)                IND A1+          90000    Assigned
Dhaulagiree Polyolefins         Non-FB limit           IND A4           200      Assigned
Dhaulagiree Polyolefins         Proposed non-FB limit *Provisional IND  200      Assigned
                                                       A4
*The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by DPPL to the satisfaction of Ind-Ra.
Wellness Forever Medicare       Non-FB Fac             IND A3+          285      Affirmed
Wockhardt                       Non-FB limits          IND A1+          57130    -
Placed on RWN
Wockhardt                       CP/ST debt programmes  IND A1+          20000    -
Placed on RWN
Writer Safeguard                Non-FB limits          IND A1           1000     Assigned

LONG TERM RATINGS:
-------------------
Apollo Tyres                    NCDs (NCDs)            IND AA+          62500    Affirmed
Apollo Tyres                    NCDs #                 IND AA+          45000    Assigned
#The assignment of final rating is based on the receipt of transaction documents.
Dhaulagiree Polyolefins         FB limit               IND B            140      Assigned
Dhaulagiree Polyolefins         Proposed TL *          Provisional IND B900      Assigned
*The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by DPPL to the satisfaction of Ind-Ra.
Dhaulagiree Polyolefins         Proposed FB limit *    Provisional IND B200      Assigned
*The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by DPPL to the satisfaction of Ind-Ra.
Ezra Sbl Ifmr Capital           Series A2 PTCs         IND BB+          32.6     Assigned
Ezra Sbl Ifmr Capital           Series A1 pass-through IND BBB+         1500     Assigned
                                certificates (PTCs)
Irm Energy                      TL                     IND BBB          19300    Assigned
Krishna Institute Of Medical    TL                     WD               23585    Withdrawn
Sciences
Krishna Institute Of Medical    FB limits              WD               1840     Withdrawn
Sciences
Krishna Institute Of Medical    Non-FB limit           WD               360      Withdrawn
Sciences
Mansarovar Pearls (I)           FB WC limits           IND BBB- / IND A33500     Assigned
Mansarovar Pearls (I)           Proposed FB WC limits *IND BBB- / IND A31500     Assigned
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by MPIPL to the satisfaction of Ind-Ra.
Parsvnath Hotels                TL (LT)                IND D            1162.5   Downgraded
                                                                                 from IND B-
Premier Exports International   FB WC limit            IND BB / IND A4+ 500      Affirmed
Srs Travels                     FB limits              IND BBB-         7200     Affirmed
Tata Power Company              Proposed NCDs *        Provisional IND  150      Assigned
                                                       AA
* The final rating will be assigned following the closure of the issue upon the receipt of final
documentation, conforming to the information already received by Ind-Ra.
Wellness Forever Medicare       FB WC limits           IND BBB          3650     Affirmed
Wellness Forever Medicare       TL                     IND BBB          1847     Affirmed
Wockhardt                       FB limits              IND AA-          32500    -
Placed on RWN
Wockhardt                       TL                     IND AA-          -        -
Placed on RWN
Wockhardt                       TL                     IND AA-          50000    -
Placed on RWN
Wockhardt                       FB/ non-FB             IND AA- / A1+    46625    -
                                interchangeable limits
Placed on RWN
Writer Safeguard                TL                     IND A            8500     Assigned
Writer Safeguard                FB limits              IND A / IND A1   2950     Assigned
Writer Safeguard                Proposed TL            Provisional      3700     Assigned
                                                       IND A 
   
-----------------------------------------------------------------------------------------------
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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below