October 16, 2017 / 4:40 AM / a month ago

India Ratings for Indian debt instruments – Oct 16

    Oct 16 (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 13, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Adani Green Energy Ltd          Short-TL               IND A1           2.5      Assigned
Contec Syndicate Pvt Ltd        Non-FB WC limits       IND A4+          120      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Map Refoils India Ltd           Non-FB WC limits       IND A4+          350      Assigned
Mayur Construction Company      Non-FB WC limit        IND A4           70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Rangotsav Sarees Pvt Ltd        Non-FB WC limits       IND A4+          10       Migrated to
                                (Standby Line of                                 Non-
                                credit)                                          Cooperating
Category
(ISSUER NOT COOPERATING)
Rangotsav Sarees Pvt Ltd        Non-FB WC limits       IND A4+          7.5      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ratnesh Ispat Services Pvt Ltd  Non-FB limits          IND A3           145      Affirmed
Ratnesh Ispat Services Pvt Ltd  Forward contract       IND A3           5        Affirmed
Sangam (I) Ltd                  Non-FB limits          IND A1           95.1     Assigned

LONG TERM RATINGS:
-------------------
Chandukaka Saraf & Sons Pvt Ltd FB CC facility         IND BBB/ IND A2  250      Assigned
Contec Syndicate Pvt Ltd        FB WC limits           IND BB           30       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Hansa Metallics Ltd             Long-TL                IND BB           229.2    Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Hansa Metallics Ltd             FB WC limits           IND BB/ IND A4+  770      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Hypercity Retail (I) Ltd        ST debt/CP             IND A1(SO)/ RWE  500      Placed on RWE
Kashipur Sitarganj Highways Pvt Senior LT rupee loans  IND D            4220     Downgraded and
Ltd                             (LT)                                             Migrated to
                                                                                 Non-
Cooperating category
(ISSUER NOT COOPERATING)
Map Refoils India Ltd           TL limits              IND BB           302.7    Affirmed
(increased from 127.5)
Map Refoils India Ltd           FB WC limits           IND BB/ IND A4+  670      Affirmed
(increased from 319)
Mayur Construction Company      FB WC limit            IND B+/ IND A4   70       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Prime Technoplast Pvt Ltd       FB WC limit (LT)       IND D            270      Downgraded and
                                                                                 Migrated to
                                                                                 Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Prime Technoplast Pvt Ltd       Long-TL (LT)           IND D            46.5     Downgraded and
                                                                                 Migrated to
                                                                                 Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Prime Technoplast Pvt Ltd       Non-FB WC limits (ST)  IND D            50       Downgraded and
                                                                                 Migrated to
                                                                                 Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Radiant Bizcom Pvt Ltd          FB Fac (LT/ST)         IND D            250      Downgraded and
                                                                                 migrated to
                                                                                 Non-
Cooperating category
(ISSUER NOT COOPERATING)
Rangotsav Sarees Pvt Ltd        FB WC limit            IND BB-          140      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ratnesh Ispat Services Pvt Ltd  FB WC limits           IND BBB-         135      Affirmed
Ratnesh Ispat Services Pvt Ltd  TL                     IND BBB-         70       Affirmed
Sangam (I) Ltd                  TL                     IND A+           470.9    Assigned
Sangam (I) Ltd                  CP (CP)                WD               1000     Withdraw
                                                                                 (repaid in
                                                                                 full)
Sansar Trust October 2016 I     Second loss credit     IND A-(SO)       273.8    Affirmed
                                facility (SLCF)
Sansar Trust October 2016 I     Series A pass-through  IND AAA (SO)     2266.4   Affirmed
                                certificates (PTCs)
Shoppers Stop Ltd               CP (CP)                IND A1/ RWE      500      Placed on RWE
Shoppers Stop Ltd               ST debt/CP             IND A1/ RWE      1000     Placed on RWE
Thdc India Ltd                  NCDs (NCDs)            IND AA+          6000     Affirmed
-----------------------------------------------------------------------------------------------
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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