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India Ratings for Indian debt instruments – Nov 6
November 6, 2017 / 8:26 AM / 15 days ago

India Ratings for Indian debt instruments – Nov 6

    Nov 6 (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 3, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd        CP                     IND A1+          170000   Affirmed
Aditya Birla Housing Finance LtdCP (CP)                IND A1+          15000    Affirmed
Advantage Overseas Pvt Ltd      Non-FB WC Fac          IND A4+          70000    Downgraded
Antony Waste Handling Cell Pvt  Non-FB WC limits       IND A4           330      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
G.C. Threads Pvt Ltd            Non-FB WC limit        IND A3           5.55     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Ganesh Steel & Alloys Ltd       Non-FB WC limits       IND A4+          27.4     Assigned
Hsil Ltd’S Commercial Paper     CP                     IND A1+          500      Assigned
Reliance Infrastructure Ltd     CP                     IND A1+(SO)      500      Assigned
Shreeji Infrastructure India    Non-FB limits          IND A2           240      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Shreeji Infrastructure India    Proposed non-FBL       IND A2           240      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Summa Real Media Pvt Ltd        Non-FB limit           IND A4+          20       Assigned
Tenty Marketing Company Pvt Ltd Non-FB limits          IND A3           25       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Tomar Builders & Contractors    Non-FB WC limits       IND A4+          300      Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Vm Apparels Pvt. Ltd            Non-FB limits          IND A4           20       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Zen Lefin Pvt Ltd               CP*                    IND A3+          500      Assigned
* Yet to be issued

LONG TERM RATINGS:
-------------------
Aditya Birla Finance Ltd        Perpetual debt         IND AA+          7000     Upgraded from
                                                                                 IND AA
Aditya Birla Finance Ltd        NCDs (NCDs)            IND AAA          126500   Upgraded from
                                                                                 IND AA+
(reduced from INR145)
Aditya Birla Finance Ltd        Lower tier 2           IND AAA          21500    Upgraded from
                                subordinated debt                                IND AA+
Aditya Birla Housing Finance LtdNCDs (NCDs)            IND AAA          20000    Upgraded from
                                                                                 IND AA+
Aditya Birla Housing Finance LtdSubordinated debt      IND AAA          10000    Upgraded from
                                (Sub-debt)                                       IND AA+
Advantage Overseas Pvt Ltd      FB WC limits           IND BB           285000   Downgraded
Antony Waste Handling Cell Pvt  FB WC limits           IND B+           330      Migrated to
Ltd                                                                              Non -
                                                                                 Cooperating
                                                                                 Category
Equitas Small Finance Bank Ltd  Bk loans               IND A+           865      Affirmed
Equitas Small Finance Bank Ltd  NCDs (NCDs)            IND A+           3000     Affirmed
Equitas Small Finance Bank Ltd  Subordinated debt      IND A+           400      Affirmed
Equitas Small Finance Bank Ltd  CP                                      250      Withdrawn
Evergreen Farmhouse             TL                     IND B+           70       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
G.C. Threads Pvt Ltd            TL                     IND BBB-         177.24   Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
G.C. Threads Pvt Ltd            FB WC limit            IND BBB-/IND A3  129      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ganesh Steel & Alloys Ltd       FB WC limits           IND BB           70       Assigned
Manasa Hotels Pvt Ltd           Proposed TL limits                      100      Withdrawn
Mms Steel & Power Pvt Ltd       WC facility*           IND BB           170      Assigned
*INR2.5 million reduction every month from May 2017 to March 2018. MSPPL also received a
temporary working capital sanction of INR7.5 million in July 2017 according to management.
Mms Steel & Power Pvt Ltd       LOC                    IND BB           40       Assigned
Poompuhar Shipping Corporation  FB WC limits           WD               100      Withdrawn
Ltd
Poompuhar Shipping Corporation  Non-FB WC limits       WD               30       Withdrawn
Ltd
Pragati Milk Products Pvt. Ltd  FB limit               IND BBB          50       Upgraded
Pragati Milk Products Pvt. Ltd  TL                     IND BBB          44.415   Upgraded
Prism Cement Ltd                NCDs                   Provisional IND  1000     Assigned
                                                       A-
Sai Bharathi Homes              FB limit               IND B+           130      Affirmed
Shreeji Infrastructure India    FB limits              IND BBB+         10       Migrated to
Pvt Ltd                                                                          Non -
                                                                                 Cooperating
                                                                                 Category
Shreeji Infrastructure India    Proposed FB limits     Provisional IND  10       Migrated to
Pvt Ltd                                                BBB+                      Non -
                                                                                 Cooperating
                                                                                 Category
Summa Real Media Pvt Ltd        TL                     IND BB           70.96    Assigned
Summa Real Media Pvt Ltd        FB limit               IND BB           40       Assigned
Tenty Marketing Company Pvt Ltd FB Limits              IND BBB-         80       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Vm Apparels Pvt. Ltd            FB limits              IND B+           180      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
Vm Apparels Pvt. Ltd            Long-TL                IND B+           27.7     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
-----------------------------------------------------------------------------------------------
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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