November 16, 2017 / 3:58 AM / 2 months ago

India Ratings for Indian debt instruments – Nov 16

    Nov 16 (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 15, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
M S Infraengineers Pvt Ltd      Non- fund- based limitsIND A4+          40       Affirmed
Phoeniix                        Non- fund- based Fac   IND A4           3        Affirmed
Ramvijay Clothing Company Pvt   Non- fund- based limitsIND A4           5        Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sahyadri Hospitals Ltd          Non- fund- based WC    IND A3           60       Affirmed
                                limits
increased from 5 Crores
Touch Tone Teleservices         Non- fund- based WC FacIND A4+          60       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Edac Engineering Ltd            Fund- based facility   IND BBB-/ IND A3 5        Affirmed
Edac Engineering Ltd            Non- fund- based       IND BBB-/ IND A3 908      Affirmed
                                facility
increased from 700.3 Crores
Edac Engineering Ltd            Proposed fund- based   Provisional IND  20       Assigned
                                facility*              BBB-/
                                                       Provisional IND A3
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by EDAC to the satisfaction of Ind-Ra.
Edac Engineering Ltd            Proposed non- fund-    Provisional IND  317      Affirmed
                                based facility*        BBB-/
                                                       Provisional IND A3
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by EDAC to the satisfaction of Ind-Ra.;
reduced from 544.7 Crores 

Green Leaf Plasto Pvt Ltd       TL                     IND BB-          6.9      Assigned
Green Leaf Plasto Pvt Ltd       Fund- based Fac        IND BB-/ IND A4+ 99       Assigned
M S Infraengineers Pvt Ltd      Fund- based limits     IND BB           150      Affirmed
Phoeniix                        Fund- based Fac        IND B+/ IND A4   160      Affirmed
Phoeniix                        Long- TL               WD               3.4      Withdrawn
 (instrument was repaid in full)
Ramvijay Clothing Company Pvt   Long- TL               IND B+           10.8     Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ramvijay Clothing Company Pvt   Fund- based limit      IND B+/ IND A4   55       Migrated to
Ltd                                                                              Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Sahyadri Hospitals Ltd          TL                     IND BBB-         1204.8   Affirmed
increased from 1,119.7 Crores
Sahyadri Hospitals Ltd          Fund- based WC limits  IND BBB-         150      Affirmed
Sahyadri Hospitals Ltd          TL (Short- term)       WD               182.3    Withdrawn (no
                                                                                 debt
                                                                                 outstanding)
Shetron Ltd                     Long- TL               IND BB           343.1    Upgraded
reduced from 438.31 Crores
Shetron Ltd                     Fund- based Fac        IND BB/ IND A4+  362.5    Upgraded
increased from 287.5 Crores
Shetron Ltd                     Non- fund- based Fac   IND BB/ IND A4+  390      Upgraded
increased from 370.0 Crores
Shri Keshav Cements And Infra   Long- TL               IND BBB-         413      Assigned
Ltd
Shri Keshav Cements And Infra   Fund- based Fac        IND BBB-/ IND A3 267      Assigned
Ltd
Silver Oak Shops Offices Co.    Term loans             IND BB+          199.57   Assigned
Op. Housing Society Ltd
Silver Oak Shops Offices Co.    Overdraft              IND BB+          100      Assigned
Op. Housing Society Ltd
Touch Tone Teleservices         Fund- based WC Fac     IND BB-          60       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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