November 7, 2019 / 7:12 AM / 4 months 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, 2019.

COMPANY                         INSTRUMENT             RATING         AMOUNT     MOVEMENT
                                                                      (RS.MLN)
------                          ----------             ------         ------     ---------
SHORT TERM RATINGS:
-------------------
Asoke Timber Co                 Non-FB limits          IND A4+          50       -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Firoze Fabricators              Non-FB WC limit        IND A4           16       Affirmed
Gold Star Jewellery Pvt Ltd     ST Issuer              IND A2+          -
(Affirmed and withdrawn)
India Coke And Power Pvt Ltd    Non-FB WC facility     IND A4+          1000     Affirmed
Maria International             Non-FB WC limit        IND A4           50       Assigned
Prn Infratech                   Non FB limits          IND A3           450      Assigned
Samarth Diamond                 Non-FB WC Fac          IND A3+          51       -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Vikram Infrastructure Company   Non-FB limits          IND A4+          100      -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Welcast India Pvt Ltd           FB WC limits           IND A4           200      -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Welcast India Pvt Ltd           Non-FB WC limits       IND A4           100      -
(Issuer Not Cooperating)/Migrated to non-cooperating category

LONG TERM RATINGS:
-------------------
Asoke Timber Co                 FB WC limits           IND BB           160      -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Aye Finance Pvt Ltd             NCDs*^                 IND BBB+         1129     Assigned
*Senior Unsecured/^Yet to be issued
Fertilisers And Chemicals       FB WC limit            IND BB+/IND A4+  6825     Assigned
Travancore Ltd
Fertilisers And Chemicals       Non-FB WC limit        IND BB+/IND A4+  4471     Assigned
Travancore Ltd
(Issuer Not Cooperating)/Migrated to non-cooperating category
Firoze Fabricators              FB WC limit            IND B+/IND A4    50       Affirmed
Heenal Operating Lease Co. Pvt  TL                     WD               695.6    Withdrawn
Ltd
Indo Sponge Power And Steel Ltd FB WC limit (LT)       IND D            80       -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Indo Sponge Power And Steel Ltd Long-TL(LT)            IND D            50       -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Jasmine Towels Pvt Ltd          TL                     IND BB+          92.55    Assigned
Jasmine Towels Pvt Ltd          FB WC limits           IND BB+/IND A4+  90       Affirmed
(reduced from 190)
Maria International             FB WC limit            IND B+/IND A4    100      Assigned
Prn Infratech                   FB limits              IND BBB-         360      Assigned
Samarth Diamond                 FB WC Fac              IND BBB/IND A3+  490      -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Samarth Diamond                 Proposed FB WC Fac     Provisional IND  109      -
                                                       BBB/Provisional
                                                       IND A3+
(Issuer Not Cooperating)/Migrated to non-cooperating category
Tata Capital Financial Services Bk loans               IND AAA          10000    Affirmed
Ltd
Tata Capital Housing Finance LtdRetail bonds*          IND AAA          50000    Affirmed
*Unutilised; combination of non-convertible debentures and subordinated bonds
Tata Capital Housing Finance LtdLT Bk loans            IND AAA          15000    Affirmed
Tata Capital Ltd                NCDs*                  IND AAA          2500     Affirmed
*Unutilised
Uco Bank                        Basel III Tier 2 bonds IND AA-          15000    Affirmed
Uco Bank                        Basel III Tier 2       IND AA-          5000     Assigned
                                bonds^
^Yet to be issued
Vikram Infrastructure Company   FB limits              IND BB-          150      -
(Issuer Not Cooperating)/Migrated to non-cooperating category
Zen Shipping & Ports India Pvt  TL                     IND BBB-         528.11   -
Ltd
(Issuer Not Cooperating)/Migrated to non-cooperating category
Zen Shipping & Ports India Pvt  FB WC Fac              IND BBB-/IND A3  100      -
Ltd
(Issuer Not Cooperating)/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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below