October 15, 2019 / 6:25 AM / 4 months ago

India Ratings for Indian debt instruments – Oct 15

    Oct 15 (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
October 14, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
Ajit Kumar Swain                Non-FB WC limit        IND A3           150      -
(ISSUER NOT COOPERATING)
Max Life Insurance Co. Ltd      ST                     IND A1+          -        Withdrawn



LONG TERM RATINGS:
-------------------
Ajit Kumar Swain                FB WC limit            IND BBB-         110      -
(ISSUER NOT COOPERATING)
C. Gems & Jewels Pvt. Ltd       TL (LT)                IND D            330      Downgraded and
                                                                                 migrated to
                                                                                 non-cooperating
                                                                                 category  
(ISSUER NOT COOPERATING)
C. Gems & Jewels Pvt. Ltd       FB limits (LT/ST)      IND D            100      Downgraded and
                                                                                 migrated to
                                                                                 non-cooperating
                                                                                 category
(ISSUER NOT COOPERATING)
Eagle Receivable Trust          Series A1 pass-through WD               1577.3   Withdrawn
                                certificates (PTCs)
Exotica Bar And Restaurant Llp  FB WC limit            IND B+/Stable    5        Affirmed
Exotica Bar And Restaurant Llp  TL                     IND B+/Stable    44.13    Affirmed
S.D. Rice Mills                 FB WC limits           IND              165      Affirmed
                                                       B+/Stable/IND A4
Samrat Wires Pvt Ltd            TL                     IND B            54       -
(ISSUER NOT COOPERATING)
Samrat Wires Pvt Ltd            Non-FB WC limit        IND B/IND A4     30       -
(ISSUER NOT COOPERATING)
Samrat Wires Pvt Ltd            FB WC limit            IND B/IND A4     50       -
(ISSUER NOT COOPERATING)
Trn Energy Pvt Ltd              TL (LT)                IND D            28156.9  Downgraded
Trn Energy Pvt Ltd              External commercial    IND D            -        Downgraded
                                borrowing (ECB) (LT)
Trn Energy Pvt Ltd              FB limits (LT)         IND D            2050     Downgraded
Trn Energy Pvt Ltd              Non-FBL (LT)           IND D            2250     Downgraded
Trn Energy Pvt Ltd              Loan equivalent risk   IND D            700      Downgraded
                                (LT)
Tsi Business Parks (Hyderabad)  LRD rupee loan         IND A+/Stable    3708.4   Affirmed
Pvt Ltd                         facility 1 *
*LRD rupee loan facility 1’s size of issue includes an overdraft facility (OD) of INR500.0
million. As on 31 Aug 2019, INR366.6 million of OD limit had been drawn
Tsi Business Parks (Hyderabad)  LRD rupee loan         IND A+/Stable    2286     Affirmed
Pvt Ltd                         facility 2
Ubl Trust 5                     Series A pass-through  WD               1029.8   Withdrawn
                                certificates (PTCs)



-----------------------------------------------------------------------------------------------
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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