October 1, 2019 / 6:16 AM / a month ago

India Ratings for Indian debt instruments – Oct 1

    Oct 1 (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
September 30, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Icici Prudential Asset          ICICI Overnight Fund   IND A1+mfs       -        Assigned
Management Company
Lendingkart Finance Ltd’S (Lfl) CP (CP)                IND A2           500      Affirmed
Debt

LONG TERM RATINGS:
-------------------
Altico Capital India Ltd’S      NCDs (LT)              IND D            30.5     Downgraded
Chamaria Infrastructures Pvt    TL (LT)                IND D            55       Downgraded
Ltd’S
Compuage Infocom Ltd’S          FB limits*             WD               2054     Affirmed and
                                                                                 withdrawn
* Affirmed at ‘IND A-’/Negative/IND A2+ before withdrawal
Compuage Infocom Ltd’S          Non-FB limits#         WD               4950     Affirmed and
                                                                                 withdrawn
# Affirmed at ‘IND A2+’ before withdrawal.
Gmr Warora Energy Ltd’S         NCDs                   IND D            750      Downgraded
Hindustan Petroleum Corporation NCDs*                  IND AAA/Stable   20       Assigned
Ltd’S
*The final rating has been assigned after the receipt of the final documents, including the
debenture trustee deed, by the agency. The final terms and conditions are in line with the
information already received by Ind-Ra, based on which the provisional rating was assigned.
Details in annexure.
Hindustan Petroleum Corporation Proposed NCDs#         Provisional IND  30       Assigned
Ltd’S                                                  AAA/Stable
#The final rating will be assigned following the final issuance and the receipt of the final
documentation, conforming with the information already received by Ind-Ra.
India Standard Loan Trust Liii  Series A pass-through  IND AAA          13364.7  Assigned
(An Asset Backed Securities     certificates (PTCs)    (SO)/Stable
Transaction)
India Standard Loan Trust Liii  Liquidity facility (LF)IND              133.65   Assigned
(An Asset Backed Securities                            AAA(SO)/Stable
Transaction)
India Standard Loan Trust Liii  Second loss credit     IND              815.25   Assigned
(An Asset Backed Securities     facility (SLCF)        BBB(SO)/Stable
Transaction)
Kosamattam Finance Ltd’S (Kfl)  Proposed NCDs (NCDs)*  IND BBB/Stable   3500     Assigned
Lendingkart Finance Ltd’S (Lfl) Bk loans               IND BBB+/        1000     Affirmed
Debt                                                   Positive
Outlook revised to Positive from Stable
Lendingkart Finance Ltd’S (Lfl) Principal protected    IND PP-MLD       250      Affirmed;
Debt                            market linked          BBB+emr/Positive
                                debenture*
Outlook revised to Positive from Stable
Mm Trust Sep 17 I’S (An Abs     Series A PTCs          IND              575.4    Affirmed
Transaction)                                           AA+(SO)/Stable
Mm Trust Sep 19 Ii (An Abs      Series A PTC (PTCs)    Provisional IND  6568.7   Assigned
Transaction)                                           AAA(SO)/Stable
Northern Arc 2019 Sbl Shalini   Series A1 pass-through Provisional IND  461.01   Assigned
(An Asset-Backed Securities     certificates (PTCs)    A(SO)/Stable
Transaction)
Prasanna Education Trust’S      Bk loans               IND B-           100      -
Migrated to non-cooperating category; (Issuer Not Cooperating)
Prasanna Education Trust’S      FB WC facility         IND B-           20       -
Migrated to non-cooperating category; (Issuer Not Cooperating)
Vivriti Krati 09 2019 (An       Series A1 pass-through Provisional IND  553.04   Assigned
Asset-Backed Securities         certificates (PTCs)    AA-(SO)/Stable
Transaction)
Vivriti Schmidt 09 2019 (An     Series A1 pass-through Provisional IND  321.8    Assigned
Asset Backed Securities         certificates (PTCs)    AA(SO)/Stable
Transaction)
-----------------------------------------------------------------------------------------------
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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