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India Ratings for Indian debt instruments – Nov 30
November 30, 2017 / 5:23 AM / in 19 days

India Ratings for Indian debt instruments – Nov 30

    Nov 30 (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 29, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------    ---------
SHORT TERM RATINGS:
-------------------
Air Travel Bureau Ltd           Non-FB WC limit        IND A3+          90       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Arene Life Sciences Ltd         Non-FB WC limits       IND A3           50       Assigned
Arene Life Sciences Ltd         Proposed non-FB WC     Prov IND A3      37.5     Assigned
                                limits*
*The ratings are provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facilities by ALSL to the satisfaction of Ind-Ra.    
Classic Engicon Pvt Ltd         Non-FB limits          IND A4+          160      Affirmed
Classic Engicon Pvt Ltd         Non-FB limits          IND A4+          80#      Assigned
(reduced from INR90mln) #The final rating has been assigned following the receipt of executed
financing documents by Ind-Ra.
Classic Engicon Pvt Ltd         Proposed non-FB limits*Prov IND A4+     100      Assigned
* The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by CEPL to the satisfaction of Ind-Ra. 
Communication World Informatic  Non-FB WC limit        IND A4+          20       Migrated to
Pvt Ltd                                                                          Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Communication World Informatic  Proposed non-FB WC     Prov IND A4+     30       Migrated to
Pvt Ltd                         limit                                            Non Cooperating
                                                                                 Category
Issuer Not Cooperating
G B Enterprisess Transport Pvt  Non-FB limits          IND A4+          1.13     Migrated to
Ltd                                                                              Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Gujral Roadwaays Pvt Ltd        Non-FB limits          IND A4+          1.13     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Klr Industries Ltd              Non-FB facility (ST)   IND D            125      Affirmed
K.C.V.R Infra Projects Pvt Ltd  Non-FB WC limits       IND A3+          610      Assigned
My Home Industries Pvt Ltd      Non-FB limits          IND A1+          1528.5   Affirmed
(increased from INR550.0mln)
My Home Industries Pvt Ltd      CP                     IND A1+          650      Affirmed
(reduced from INR1,400.0mln)
Prime Metals                    Non-FB limits          IND A4           12.5     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Shine Star                      Non-FB limits          IND A4+          8.5      Affirmed
Sree Lalitha Parameswari        Non-FB limits          IND A3           36.8     Migrated to
Spinning Mills Pvt Ltd                                                           Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sri Satya Sai Infrastructure    Non-FB WC              IND A4+          680      Upgraded from
Pvt Ltd                                                                          IND A4
(increased from INR250mln)
The Bombay Burmah Trading       Non-FB facility        IND A1+          10       Affirmed
Corporation Ltd
The Bombay Burmah Trading       CPs (CPs)*             IND A1+          1500     Affirmed
Corporation Ltd
* In addition to the existing working capital facility
Torrent Pharmaceuticals Ltd     CP/ST NCDs             IND A1+          5000     Assigned
Yash Papers Ltd                 Non-FB limits          IND A4+          139.3    Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating

LONG TERM RATINGS:
-------------------
A. P. Properties                TL                     IND B+           150      Assigned
Air Travel Bureau Ltd           FB WC limit            IND BBB /IND A3+ 710      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Altico Capital India Ltd        Bk loan                IND AA-          14000    Assigned
Arene Life Sciences Ltd         TL limits              IND BBB-         12.02    Assigned
Arene Life Sciences Ltd         FB WC limits           IND BBB- /IND A3 90       Assigned
Arene Life Sciences Ltd         Proposed FB WC limits* Prov IND BBB-    60       Assigned
                                                       /Prov IND A3
*The ratings are provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facilities by ALSL to the satisfaction of Ind-Ra.    
Classic Engicon Pvt Ltd         FB limits              IND BB+ /IND A4+ 50       Affirmed
Classic Engicon Pvt Ltd         FB limits              IND BB+ /IND A4+ 20       Assigned
Communication World Informatic  FB WC limit            IND BB-          45       Migrated to
Pvt Ltd                                                                          Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Communication World Informatic  Proposed FB WC limit   Prov IND BB-     55       Migrated to
Pvt Ltd                                                                          Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Delhi International Airport Ltd FB limits              IND AA-          1850     Affirmed
Delhi International Airport Ltd FB limits              IND AA-          1500     Affirmed
                                (interchangeable limit
                                between fund- and non-FB)
Delhi International Airport Ltd Non-FB limits          IND AA-          490      Affirmed
Delhi International Airport Ltd LT debt                IND AA-          56000    Assigned
Delhi International Airport Ltd Bk loans               WD               29710    Withdrawn
G B Enterprisess Transport Pvt  FB limits              IND BB-          14.6     Migrated to
Ltd                                                                              Non Cooperating
                                                                                 Category
Issuer Not Cooperating
G B Enterprisess Transport Pvt  TL                     IND BB-          12.09    Migrated to
Ltd                                                                              Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Gujral Roadwaays Pvt Ltd        FB limits              IND BB           34.3     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Gujral Roadwaays Pvt Ltd        TL                     IND BB           4.84     Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Har Auto Pvt Ltd                FB WC Fac              IND BB /IND A4+  180      Assigned
J.S. International              TL                     IND BB+          86       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
J.S. International              FB limit               IND BB+ /IND A4+ 800      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
K.C.V.R Infra Projects Pvt Ltd  FB WC limits           IND BBB /IND A3+ 90       Assigned
Klr Industries Ltd              TL (LT)                IND D            30       Affirmed
Klr Industries Ltd              FB facility (LT)       IND D            282      Affirmed
My Home Industries Pvt Ltd      Proposed NCDs (NCDs)   -                1000     Withdrawn
My Home Industries Pvt Ltd      FB WC limits           IND AA+ /IND A1+ 1650     Affirmed
Omega Solar Projects Pvt Ltd    TL                     IND BBB-         568.52   Assigned
Omni Auto Ltd                   FB limits              IND BBB-         238      Affirmed
Omni Auto Ltd                   Long-TL                IND BBB-         109      Affirmed
(reduced from INR220mln)
Prime Metals                    TL                     IND B+           1.5      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Prime Metals                    WC limits              IND B+/IND A4    60       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Progressive Infotech Pvt Ltd    FB limits              IND BBB- /IND A3 50       Assigned
Shine Star                      FB limits              IND BB-          100      Affirmed
Sree Lalitha Parameswari        Long-TL                IND BBB-         136.5    Migrated to
Spinning Mills Pvt Ltd                                                           Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sree Lalitha Parameswari        FB WC limit            IND BBB-         200      Migrated to
Spinning Mills Pvt Ltd                                                           Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Sri Satya Sai Infrastructure    Proposed long-TL       -                8        Withdrawn
Pvt Ltd
Sri Satya Sai Infrastructure    FB WC                  IND BB-          140      Upgraded from
Pvt Ltd                                                                          IND B-
(increased from INR60mln)
The Bombay Burmah Trading       TL                     IND AA           800      Affirmed
Corporation Ltd
The Bombay Burmah Trading       WC Fac                 IND AA           940      Affirmed
Corporation Ltd
(increased from INR490mln)
The Bombay Burmah Trading       NCDs (NCDs)            IND AA           1500     Affirmed
Corporation Ltd
U.P. Power Corporation Ltd      Proposed bonds (NCDs)  Prov IND A+(SO)  44982    Assigned
 (including a green shoe option of INR14,722)
Yash Papers Ltd                 TL                     IND BB           701.7    Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Yash Papers Ltd                 FB limits              IND BB /IND A4+  500      Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Issuer Not Cooperating
Yash Papers Ltd                 Proposed TL            Prov IND BB      410      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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