November 21, 2018 / 4:43 AM / 6 months ago

India Ratings for Indian debt instruments – Nov 21

    Nov 21 (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 20, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
B.G. Transport Company          Non-FB WC limits       IND A4+          1        -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Bhupinder Singh’S               Non-FB limits          IND A4+          2.14     -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Rattan Kaur                     Non-FB limits          IND A4+          1.12     -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Perfect Infraengineers Ltd      Non-FB WC limits (ST)  IND D            45       -
Affirmed and Migrated to non-cooperating category; (Issuer Not Cooperating)
Smartchem Technologies Ltd      Non-FB limits (Bk Fac) IND A1+          1000     Affirmed
Tejinder Kaur’S                 Non-FB limits          IND A4+          1        -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
 
LONG TERM RATINGS:
-------------------
Asian Business Connections Pvt  NCDs                   WD               4500     Withdrawn
Ltd
Avaada Solar Energy Pvt Ltd     TL                     IND BBB          5190     Assigned
Avaada Solar Energy Pvt Ltd     Non-FB facility (BG)   IND BBB          225      Assigned
Avaada Solar Energy Pvt Ltd     WC facility            IND BBB          130      Assigned
B.G. Transport Company          TL                     IND BB-          59.87    -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
B.G. Transport Company          FB WC limits           IND BB-          13.5     -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Bee Jay Industrial              FB WC limit            IND BB- /IND A4+ 200      -
Corporation’S 
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Bhupinder Singh’S               FB limit               IND BB-          64       -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Bhupinder Singh’S               TL                     IND BB-          44.31    -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Blue Duck Textiles Pvt Ltd      TL                     IND BB-          18.36    -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Blue Duck Textiles Pvt Ltd      FB WC limit            IND BB- /IND A4+ 60       -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Centre For Digestive And Kidney TL                     IND A            2200     Reassigned
Diseases (I) Pvt Ltd
Eastman Auto & Power Ltd        TL                     IND A            350      Affirmed
Eastman Auto & Power Ltd        FB WC limits           IND A /IND A1    530      Affirmed
Eastman Auto & Power Ltd        Non-FB WC limits       IND A /IND A1    180      Affirmed
Eastman Auto & Power Ltd        FB WC limits*          IND A /IND A1    220      Assigned
*The final ratings have been assigned on the receipt of the executed sanction letter, conforming
to the information already received by Ind-Ra.
Gopal Krishna Rice Mills’S      FB WC limit            IND B /IND A4    70       -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Lamane Infrastructure Pvt Ltd   TL                     IND BB-          200      -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Nagpur Seoni Express Way Ltd    NCDs                   IND AAA(SO)      1950*    Affirmed
*amount outstanding on 19 November 2018 was INR1,67.65 million
Perfect Infraengineers Ltd      TL (LT)                IND D            0.9      -
Affirmed and Migrated to non-cooperating category; (Issuer Not Cooperating)
Perfect Infraengineers Ltd      FB WC limits (LT)      IND D            47.5     -
Affirmed and Migrated to non-cooperating category; (Issuer Not Cooperating)
Psk Textiles India Pvt Ltd      TL                     IND BB+          50       Assigned
Psk Textiles India Pvt Ltd      FB Fac                 IND BB+ /IND A4+ 50       Assigned
Rattan Kaur                     FB limits              IND BB-          13.9     -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Rattan Kaur                     TL                     IND BB-          49.76    -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Ravindranath Ge Medical         TL                     IND A            1600     Upgraded
Associates Pvt Ltd
Shree Doodhaganga Krishna       FB WC Fac              IND BB- /IND A4+ 600      Assigned
Sahakari Sakkare Karkhane
Niyamit
Shri Keshav Cements And Infra   Long-TL                IND BBB-/RWN     413      Placed on RWN
Ltd’S
Shri Keshav Cements And Infra   FB limits              IND BBB-/RWN/IND 267      Placed on RWN
Ltd’S                                                  A3/RWN
Sundaram Packaging India Pvt LtdFB limit               IND BBB          120      -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Sundaram Packaging India Pvt LtdTL                     IND BBB          109      -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Tejinder Kaur’S                 FB limit               IND BB-          13.9     -
Maintained in Non-Cooperating Category; (Issuer Not Cooperating)
Tejinder Kaur’S                 TL                     IND BB-          40.38    -
Maintained in 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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