November 7, 2017 / 7:53 AM / a month ago

India Ratings for Indian debt instruments – Nov 7

   Nov 7 (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 6, 2017.

COMPANY                         INSTRUMENT             RATING          AMOUNT   MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Brahmani Developers Pvt Ltd     Non-FB limits          IND A4+          25       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Dcw Ltd                         Non-FB WC limits       IND A2+          3393.8   Downgraded
East Hooghly Polyplast Pvt Ltd  Non-FB limits          IND A4+          3.84     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Paradigm Tunneling Pvt Ltd      Non-FB WC limit        IND A4+          110      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Preca Solutions India Pvt Ltd   Non-FB WC limits       IND A3           80       Assigned
Preca Solutions India Pvt Ltd   Proposed non-FB WC     Provisional IND  80       Assigned
                                limits                 A3
Priya Ltd                       FB post-shipment       IND A4           210      Downgraded
                                export finance credit
                                facility
Priya Ltd                       Non-FB limits          IND A4           210      Downgraded
Sona Sati Organics Pvt Ltd      Non-FB limit           IND A4           40       Assigned
Sriram Compounds Pvt Ltd        Non-FB WC limit        IND A3+          350      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
T V Sundaram Iyengar & Sons Pvt CP                     IND A1+          8000     Assigned
Ltd

LONG TERM RATINGS:
-------------------
Anil Trading Company            FB limit               IND B-           125      Assigned
Brahmani Developers Pvt Ltd     FB limits              IND BB+          45       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Dcw Ltd                         TL                     IND BBB+         5787.74  Downgraded
Dcw Ltd                         FB WC facility         IND BBB+ /IND A2+527.5    Downgraded
East Hooghly Polyplast Pvt Ltd  FB limits              IND BB+          76.5     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
East Hooghly Polyplast Pvt Ltd  TL                     IND BB+          38.43    Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Epari’S Jewellers               FB limit               IND B                     Assigned
India Standard Loan Trust -     Series A pass-through  IND AA(SO)       213.25   Affirmed
XVIII                           certificates (PTCs)
India Standard Loan Trust -     Liquidity Facility     IND AAA(SO)      8.04     Affirmed
XVIII 
India Standard Loan Trust -     Second loss credit     IND BBB(SO)      27.3     Affirmed
XVIII                           facility (SLCF)
India Standard Loan Trust -     Series A pass-through  IND AA(SO)       624.58   Affirmed
XXVI                            certificates (PTCs)
India Standard Loan Trust -     Liquidity Facility (LF)IND AAA(SO)      10.6     Affirmed
XXVI 
India Standard Loan Trust -     Second loss credit     IND BBB(SO)      53       Affirmed
XXVI                            facility 
India Standard Loan Trust -XXXVILiquidity facility (LF)IND AAA(SO)      7.54     Affirmed
India Standard Loan Trust -XXXVISeries A1 pass-through IND AAA(SO)      35.2     Affirmed
                                certificates (PTCs)
India Standard Loan Trust -XXXVISeries A2 PTCs         IND AAA(SO)      490.1    Affirmed
India Standard Loan Trust -XXXVISecond loss credit     IND BBB(SO)      50.92    Affirmed
                                facility (SLCF)
Mahindra World City (Jaipur) LtdNCDs (NCDs)            IND AA-          1500     Affirmed
Mahindra World City (Jaipur) LtdNCDs                                    500      Withdrawn
Mahindra World City (Jaipur) LtdCP                                      500      Withdrawn
Mahindra World City (Jaipur) LtdProposed debt programme                 500      Withdrawn
Nk Toll Road Ltd                CP                                      1500     Withdrawn
One Business House Pvt Ltd      FB WC limit            IND BB+          150      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
One Business House Pvt Ltd      Proposed FB WC limit   Provisional IND  100      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
One Business House Pvt Ltd      Proposed long-TL       Provisional IND  150      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Paradigm Tunneling Pvt Ltd      FB WC limit            IND BB           30       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 Category
Preca Solutions India Pvt Ltd   TL limits              IND BBB-         128.6    Assigned
Preca Solutions India Pvt Ltd   FB WC limits           IND BBB- /IND A3 110      Assigned
Preca Solutions India Pvt Ltd   Proposed TL limits*    Provisional IND  60       Assigned
                                                       BBB-
* The ratings are provisional and shall be confirmed upon the sanction 
 and execution of the loan documents for the above facilities 
 by Preca to the satisfaction of Ind-Ra. 
Preca Solutions India Pvt Ltd   Proposed FB WC limits* Provisional IND  90       Assigned
                                                       BBB- /
                                                       Provisional IND A3
* The ratings are provisional and shall be confirmed upon the sanction 
 and execution of the loan documents for the above facilities 
 by Preca to the satisfaction of Ind-Ra. 
R.R. Energy Ltd                 TL (LT)                                 447.47   Withdrawn
R.R. Energy Ltd                 FB WC limits (LT)                       240      Withdrawn
R.R. Energy Ltd                 Non-FB limits (ST)                      191      Withdrawn
Sona Sati Organics Pvt Ltd      FB limit               IND B            100      Assigned
Sona Sati Organics Pvt Ltd      TL                     IND B            400.74   Assigned
Sriram Compounds Pvt Ltd        FB WC limit            IND BBB /IND A3+ 400      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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