November 23, 2018 / 4:56 AM / 19 days ago

India Ratings for Indian debt instruments – Nov 23

    Nov 23 (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 22, 2018.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Capacite Infraprojects Ltd      Non-FB Fac*            IND A1           630      Assigned
*The assignment of the final rating follows the receipt of the final documents conforming to the
information already received by Ind-Ra. 
Capacite Infraprojects Ltd      Non-FB Fac             IND A1           1880     Assigned
Hindustan Petroleum Corporation CP*                    IND A1+          150000   Affirmed
Ltd
* The proceeds are to be utilised for general corporate purposes.
Jonson Rubber Industries Ltd    Non-FB limits          IND A4+          300
reduced from 380.0 mln; Affirmed
Kailash Devbuild India Pvt Ltd  Non-FB limits          IND A3           580
reduced from 680 mln; Affirmed
Mayur Seeds And Agritech        Non-FB WC limits       IND A4           10
(Issuer Not Cooperating); Maintained in non-cooperating category
Rajinder Infrastructure Pvt Ltd Non-FB limits          IND A3           300
(Issuer Not Cooperating); Migrated to non-cooperating category
Ramvijay Clothing Company Pvt   Non-FB limits          IND A4           5
Ltd
(Issuer Not Cooperating); Maintained in Non-Cooperating Category

LONG TERM RATINGS:
-------------------
Devikkesh Novamate Boards Pvt   FB limits              IND B+           37.5
Ltd
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Devikkesh Novamate Boards Pvt   TL                     IND B+           32
Ltd
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Haldia Petrochemicals Ltd       Proposed NCDs*         Provisional IND  10       Assigned
                                                       AA
* The final rating will be assigned following the closure of the issue upon the receipt of the
final documentation, conforming to the information already received by Ind-Ra. 
Hiland Agro Products Pvt Ltd    TL                     IND B+           59.6     Assigned
Hiland Agro Products Pvt Ltd    FB WC Fac              IND B+/IND A4    10       Assigned
Hindustan Petroleum Corporation WC limits              IND AAA/INDA1+   450000   Affirmed
Ltd
Hindustan Petroleum Corporation NCDs (NCDs)            WD               9750
Ltd
Withdrawn (repaid in full)
Inabensa Bharat Pvt Ltd         FB WC Fac (LT/ST)      IND D            150
(Issuer Not Cooperating); Maintained in non-cooperating category
Inabensa Bharat Pvt Ltd         Non-FB WC Fac (LT/ST)  IND D            50
(Issuer Not Cooperating); Maintained in non-cooperating category
India Glycols Ltd               TL                     IND A-           2130     Assigned
Jonson Rubber Industries Ltd    FB limits              IND BB/IND A4+   320
increased from 220.0 mln; Affirmed
Jonson Rubber Industries Ltd    TL                     WD               9.1
Withdrawn (repaid in full)
Kailash Devbuild India Pvt Ltd  FB limits              IND BBB-         160
reduced from 180 mln; Affirmed
Mayur Seeds And Agritech        FB WC limits           IND B+           90
(Issuer Not Cooperating); Maintained in non-cooperating category
Meghalaya Power Generation      NCDs                   WD               500      Withdrawn
Corporation Ltd
Nabinagar Power Generating      Long-TL                IND A+           105.92   Assigned
Company Pvt Ltd
Nabinagar Power Generating      Non-FB WC limits       IND A+/IND A1    0.77     Assigned
Company Pvt Ltd
Nabinagar Power Generating      Proposed long-TL*      Provisional IND  6.24     Assigned
Company Pvt Ltd                                        A+
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by NPGCPL to the satisfaction of Ind-Ra. 
R.S.G Exports Pvt Ltd           TL                     IND BB           150
(Issuer Not Cooperating); Migrated to non-cooperating category
R.S.G Exports Pvt Ltd           FB limit               IND BB/IND A4+   200
(Issuer Not Cooperating); Migrated to non-cooperating category
R.S.G Exports Pvt Ltd           Proposed FB limit      Provisional IND  50
                                                       BB/Provisional
                                                       IND A4+
(Issuer Not Cooperating); Migrated to non-cooperating category
Rajinder Infrastructure Pvt Ltd FB limits              IND BBB-/IND A3  100
(Issuer Not Cooperating); Migrated to non-cooperating category
Rajpal Cotton Industries        FB limit               IND BB-          84
(Issuer Not Cooperating); Migrated to non-cooperating category
Ramvijay Clothing Company Pvt   Long-TL                IND B+           10.8
Ltd
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Ramvijay Clothing Company Pvt   FB limit               IND B+/IND A4    55
Ltd
(Issuer Not Cooperating); Maintained in Non-Cooperating Category
Rmg Polyvinyl India Ltd         FB limit               WD               110
Migrated to Non-Cooperating Category and Withdrawn
Rmg Polyvinyl India Ltd         Non-FB limit           WD               179
Migrated to Non-Cooperating Category and Withdrawn
Rmg Polyvinyl India Ltd         TL                     WD               126.7
Migrated to Non-Cooperating Category and Withdrawn
Rosa Power Supply Co. Ltd       Rupee TL               IND BB           32760
(Issuer Not Cooperating); Migrated to non-cooperating category
Rosa Power Supply Co. Ltd       External commercial    IND BB           USD192.19
                                borrowing
(Issuer Not Cooperating); Migrated to non-cooperating category
Shri Balaji Business House Pvt  FB WC limit            IND B+           95
Ltd
(Issuer Not Cooperating); Migrated to non-cooperating category
Shri Balaji Business House Pvt  Proposed FB limits     Provisional IND  130
Ltd                                                    B+
(Issuer Not Cooperating); Migrated to non-cooperating category
Srs Travels                     FB limits              IND BB+          720
(Issuer Not Cooperating); Downgraded and migrated to non-cooperating category
Studiokon Ventures Pvt Ltd      Non-FB WC limit        WD               70       Withdrawn
Studiokon Ventures Pvt Ltd      TL                     WD               60       Withdrawn
Trichy Tollway Pvt Ltd          TL                     IND AA-          2808     Affirmed
Trichy Tollway Pvt Ltd          NCDs (NCDs)            IND AA-          1750     Affirmed
Vinplex India Pvt Ltd           TL                     IND A-           1.6      Assigned
Writers & Publishers Pvt. Ltd.  NCDs                   Provisional IND  3500     Assigned
                                                       AA-(SO)
-----------------------------------------------------------------------------------------------
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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