November 9, 2017 / 5:41 AM / 2 months ago

India Ratings for Indian debt instruments – Nov 9

    Nov 9 (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 8, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
B D Transport Company           Non-FB WC limit        IND A4+          1        Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Dolswap Business Pvt Ltd        Non-FB limits          IND A3           30       Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gba Steels & Metals Pvt Ltd     Non-FB WC limit        IND A4+          0.5      Affirmed
National Cooperative            CP (CP)                IND A1+          15.98    Assigned
Development Corporation’S
Pioneer Syntex Pvt Ltd          Non fund based WC      IND A3           42.5     Assigned
                                limits
Veendeep Oiltek Exports Pvt Ltd Non-FB Fac             IND A4+          40       Upgraded from
                                                                                 A4
(ISSUER NOT COOPERATING)
India Standard Loan Trust Xlix  Series A pass-through  IND A (SO)       1284.86  Assigned
                                certificates (PTCs)
India Standard Loan Trust Xlix  Liquidity facility (LF)IND AAA(SO)      12.85    Assigned
India Standard Loan Trust Xlix  Second loss credit     IND BBB(SO)      46.25    Assigned
                                facility (SLCF)

LONG TERM RATINGS:
-------------------
Altius Management Advisors Pvt  TL (LT lease rental    WD               511.4    Withdrawn
Ltd                             discounting loan)
B D Transport Company           FB WC limit            IND BB-          13.2     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
B D Transport Company           TL                     IND BB-          36.36    Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Century 21 Town Planners Pvt LtdTL                     IND BB           1950     Affirmed
(increased from 869.67)
Century 21 Town Planners Pvt LtdProposed long- TL      WD               1130.33  Withdrawn
(issuer is no longer proceeding with the instrument as envisaged)
Dolswap Business Pvt Ltd        FB Limits              IND BBB-         130      Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Gallus Cv Ifmr Capital 2017     Series A1 pass-through IND A-(SO)       344.5    Assigned
                                certificates (PTCs)
Gallus Cv Ifmr Capital 2017     Series A2 PTCs         IND BB+(SO)      20.8     Assigned
Gba Steels & Metals Pvt Ltd     TL                     IND BB-          21       Affirmed
(reduced from 35.6)
Gba Steels & Metals Pvt Ltd     Proposed FB WC limit*  IND BB- / IND A4+3.9      Affirmed
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by GBA to the satisfaction of Ind-Ra.

Gba Steels & Metals Pvt Ltd     Proposed FB WC limit*  IND BB- / IND A4+6.1      Assigned
* The ratings are provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facilities by GBA to the satisfaction of Ind-Ra.

Gba Steels & Metals Pvt Ltd     FB WC limit            IND BB-/IND A4+  40       Affirmed
Hdfc Da July 2011 - I           Second loss credit     IND AA-(SO)      487.8    Upgraded from
                                facility (SLCF)                                  A+(SO)
Hdfc Da July 2011 - I           Purchaser payouts      IND AAA(SO)      2354.7   Affirmed
Hdfc Da July 2011 - Iii         Second loss credit     IND AA-(SO)      73.4     Upgraded from
                                facility (SLCF)                                  A+(SO)
Hdfc Da July 2011 - Iii         Purchaser payouts      IND AAA(SO)      588.6    Affirmed
Hdfc Da –Non-Psl Nov 09         Second loss credit     IND AA(SO)       143.4    Affirmed
                                facility (SLCF)
Hdfc Da –Non-Psl Nov 09         Purchaser payouts      IND AAA(SO)      597.8    Affirmed
Hdfc Da Psl Nov09               Second loss credit     IND AA(SO)       145.9    Affirmed
                                facility (SLCF)
Hdfc Da Psl Nov09               Purchaser Payouts      IND AAA(SO)      699.9    Affirmed
National Cooperative            Bonds (FY15)           IND AA+          2.5      Affirmed
Development Corporation’S
National Cooperative            TBs*                   IND  AA+         3        Assigned
Development Corporation’S
*The assignment of final rating is based on the closure of the issue upon the receipt of final
documentation, conforming to the information already received by Ind-Ra.

National Cooperative            TBs                    WD               2        Withdrawn
Development Corporation’S
(the issuer did not proceed with instrument as envisaged)

Pioneer Syntex Pvt Ltd          TL                     IND BBB-         915.56   Assigned
Pioneer Syntex Pvt Ltd          Proposed TL limits*    IND BBB-         105      Assigned
* The above ratings are provisional and shall be confirmed upon the sanction and execution of
loan documents for the above facilities by PSPL to the satisfaction of Ind-Ra.

Pioneer Syntex Pvt Ltd          FB WC limits           IND BBB-/IND A3  180      Assigned
Pioneer Syntex Pvt Ltd          Proposed fund based WC IND              150      Assigned
                                limits*                BBB-/Provisional
                                                       IND A3
Platinum Trust June 2017 –      Pass-through           IND AAA(SO)      3742.96  Assigned
Tranche Ii                      certificates (PTCs) -
                                Series A
Platinum Trust June 2017 –      Second loss credit     IND BBB(SO)      202.12   Assigned
Tranche Ii                      facility (SLCF)
Prism Cement Ltd                NCD                    IND A-           1000     Assigned
Prism Cement Ltd                NCD                    IND A-           2000     Assigned
Prism Cement Ltd                NCD                    IND A-           1000     Assigned
Qube Cinema Technologies Pvt LtdTL                     IND A-/RWE       240.9    Placed on RWE
Qube Cinema Technologies Pvt LtdFB WC limits           IND A-/RWE/IND   300      Placed on RWE
                                                       A1/RWE
Qube Cinema Technologies Pvt LtdNon-FB limits          IND A1/RWE       50       Placed on RWE
Rajpal Cotton Industries        FBL                    IND BB-          84       Downgraded
                                                                                 from IND BB
Sbl Ifmr Capital 2017           Series A1 pass-through IND A-(SO)       156.43   Assigned
                                certificates (PTCs)
Sbl Ifmr Capital 2017           Series A2 PTCs         IND A-(SO)       49.66    Assigned
Sbl Ifmr Capital 2017           Series A3 PTCs         IND BB+(SO)      12.41    Assigned
Shreepati Jewels                TL (LT)                IND D            469.2    Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Shreepati Jewels                FB WC limit (LT)       IND D            47.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Up Sarila Urja Pvt Ltd          Project TL             IND BBB          2000     Assigned
Urja Pvt Ltd                    TL                     IND BBB          1790     Assigned
Veendeep Oiltek Exports Pvt Ltd FB Fac                 IND BB-          50       Upgraded from
                                                                                 B+
(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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